Word: gridwork
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Dates: during 1990-1999
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...Daniels: "Utilities tend to be very conservative and try not to take a lot of risks." In fact, risk aversion in the utility business is not just a tendency, it has been a way of life. Since 1935 most of the power suppliers in the U.S. had operated a gridwork of cushy monopolies that allowed them to earn a guaranteed rate of return, limited their exposure to loss and actually punished them for experimenting with anything that didn't meet strict standards of "prudency." Under the banner of protecting consumers of electricity from being overcharged, a maze of federal, state...