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A Profile of the Electric Power Industry by Charles E. Clark

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Chapter 1

Introduction

The electricity industry plays an important role in the US economy. Electricity is used in the vast majority of economic activity and consumption. And a modern society relies on service that is highly reliable and that satisfies exacting standards for product quality. In addition, producing electricity can entail significant environmental impacts. The United States has invested a large amount of effort and resources to reduce these impacts to acceptable levels. The business is very capital intensive and is a significant part of the economy when measured by financial yardsticks. The revenue of the electric industry was about $370 billion in 2010. This is roughly 2.5% of the GDP of $14.6 trillion. In addition, the characteristics ...

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