or the elimination of regulatory requirements Economic deregulation initiatives have been carried out in a number of areas, including such public utility sectors as transportation and communications In some cases, governments are striving to achieve the same goals as those pursued by mechanisms other than traditional regulations, including voluntary agreements, self-regulation, dissemination of information and eco-taxes
Particularly observed in the transport and telecommunications sectors, deregulation consists in a shift to a competitive economic climate by reorienting and/or suppressing regulatory mechanisms Deregulation, however, does not necessarily refer to complete absence of free market regulation measures but rather to the promotion of competition-inducing ones (which can seek elimination of monopolies, for example)
Process of removing regulatory authority over regulated companies In a deregulated environment rates and services will be determined by the market place in much the same manner as other consumer goods
The loosening of federal and state laws and regulations that govern the generation, transmission and distribution of electricity Congress deregulated wholesale power markets in 1992, thus authorizing utilities to open their high-voltage transmission lines to wholesalers and other power sellers Subsequently, a number of states have adopted or are considering deregulation laws
Deregulation is the removal of controls and restrictions in a particular area of business or trade. Since deregulation, banks are permitted to set their own interest rates
An economic policy, begun during the administration of Jimmy Carter, which freed air and surface transportation, the savings and loan industry, natural gas, and other industries from many government economic controls
The pricing of products and services without approval of a federal regulatory body, specifically the process of modifying or ending government control over how and at what price natural gas is sold Deregulation will not compromise the safety or the reliability of our distribution system
Deregulation splits off two lines of the power business that have been controlled by monopoly utilities It allows new players to compete in providing electric services setting their own prices rather than negotiating with state regulators on a fixed rate
(1) A 1983 Federal Communications Commission ruling which freed Sprint and other interexchange carriers from the need to file rate changes or seek authority from FCC to expand AT&T was not deregulated because of its economic power and market dominance
In insurance, reducing regulatory control over insurance rates and forms Commercial insurance for businesses of a certain size has been deregulated in many states