Transparency in the regulatory process - its importance and its elements
Article from: OGEL 3 (2003), in Electricity Law and Regulation
If there is a single concept that is absolutely critical to the successful implementation and conducting of a regulatory process it is transparency. The process, the reasoning, the mathematics, the logic, the transactions, the administration, and the mechanics of regulation must be absolutely transparent to all if the system is to inspire confidence in it. Without that confidence, investors will not risk their capital, consumers will not tolerate adverse rate changes, politicians will not refrain from tampering with the process, and restructuring will be but an empty shell. ...