Energy Information Administration

Last week, we learned about lost revenue adjustment mechanisms, also known as LRAM.  I said, “Many people don’t seem to be that interested in the right answer in many jurisdictions.”  This week, I investigated another paper posted to the University of Chicago’s website, authored by two University of California-Berkeley economics professors and one University of Chicago professor.  Collectively, these flunkies have PhDs in economics from MIT, UC-Berkeley, and Princeton.  The paper drew hellfire from some in our industry, because, uh, they don’t like anyone messing with the Kool Aid punch bowl. The paper investigates the claimed savings for the Federal…