Harnessing market forces : notes for a discussion on simplifying gas regulation

A discussion on simplifying regulations within the energy industry was discussed. It was shown that regulations tend to change as circumstances change. The discussion focused on the reliance on market forces as a means of simplifying the regulator's burden and also relieving the burden of the regulation. The example of the settlement involving Westcoast Energy's raw gathering and processing business in British Columbia was presented. The proposed framework for Light-Handed Regulation for Westcoast represents an industry solution to an industry problem that is specific to the facts of a particular case