The Power Brokers, Jeremiah D. Lambert
The Power Brokers, Jeremiah D. Lambert
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The Power Brokers
The Struggle to Shape and Control the Electric Power Industry

Author: Jeremiah D. Lambert

Narrator: Joe Barrett

Unabridged: 11 hr 18 min

Format: Digital Audiobook Download

Published: 09/04/2015


Synopsis

For more than a century, the interplay between private, investor-owned electric utilities and government regulators has shaped the electric power industry in the United States. Provision of an essential service to largely dependent consumers invited government oversight and ever more sophisticated market intervention. The industry has sought to manage, co-opt, and profit from government regulation. In The Power Brokers, Jeremiah Lambert maps this complex interaction from the late nineteenth century to the present day.Lambert’s narrative focuses on seven important industry players: Samuel Insull, the principal industry architect and prime mover; David Lilienthal, chairman of the Tennessee Valley Authority (TVA), who waged a desperate battle for market share; Don Hodel, who presided over the Bonneville Power Administration (BPA) in its failed attempt to launch a multiplant nuclear power program; Paul Joskow, the MIT economics professor who foresaw a restructured and competitive electric power industry; Enron’s Ken Lay, master of political influence and market-rigging; Amory Lovins, a pioneer proponent of sustainable power; and Jim Rogers, head of Duke Energy, a giant coal-fired utility threatened by decarbonization. Lambert tells how Insull built an empire in a regulatory vacuum and how the government entered the electricity marketplace by making cheap hydropower available through the TVA. He describes the failed overreach of the BPA, the rise of competitive electricity markets, Enron’s market manipulation, Lovins’ radical vision of a decentralized industry powered by renewables, and Rogers’ remarkable effort to influence cap-and-trade legislation.Lambert shows how the power industry has sought to use regulatory change to preserve or secure market dominance and how rogue players have gamed imperfectly restructured electricity markets. Integrating regulation and competition in this industry has proven a difficult experiment.

About Jeremiah D. Lambert

Jeremiah D. Lambert is a lawyer in Washington, DC, whose practice focuses on clients in the energy business. He is the author of Energy Companies and Market Reform: How Deregulation Went Wrong and Creating Competitive Power Markets: The PJM Model. He is a magna cum laude graduate of Princeton University and a member of Phi Beta Kappa, was a Fulbright Scholar at the University of Copenhagen, and is a graduate of Yale Law School, where he was an editor of the Yale Law Journal.

About Joe Barrett

Joe Barrett, an actor and Audie Award and Earphones Award–winning narrator, has appeared both on and off Broadway as well as in hundreds of radio and television commercials.


Reviews

Goodreads review by AttackGirl on July 03, 2023

I do NOT agree with the author assessment of ENRON, If anyone can recall the Paper flip chart and what happened to all the companies the government decided to list on that flip chart. So then think about what really happened to ENRON and really how that unhappy nasty extremely jealous woman changed......more

Goodreads review by Christopher on August 23, 2022

Good history and education on the electric power industry in the US from its beginning to present day. I learned a number of things, but two really stood out for me. First, Arthur Anderson (founder of the Arthur Anderson Accounting firm) helped sow the seeds of deregulation almost a century ago whic......more

Goodreads review by Jeff on February 01, 2017

A very thorough glimpse into major players in the development of electric power in the United States. Consolidation of power companies, Tennessee Valley Authority, Bonneville Power, Enron, Duke, and the influx of renewables. There are many gems of knowledge. The major downside is that it is rife wit......more

Goodreads review by Derek on December 01, 2022

I wanted to give this more stars because the information was really good, but the book was so boring and dense. Unless you are VERY interested in the topic and have some background knowledge, it's just really dense to work through.......more

Goodreads review by Timothy on July 02, 2020

Dense. But a really good and comprehensive explanation of how the US electricity industry evolved.......more


Quotes

“This book is a treasure trove of information about the development of our present-day electrical world in the US from its very beginnings in the immediate post-Edison era.” Michael Brian Schiffer, author of Power Struggles: Scientific Authority and the Creation of Practical Electricity Before Edison

“In The Power Brokers, Lambert develops an exquisite case for viewing the construction of state regulatory regimes as a fundamental activity in the creation of the electric power industry. He masterfully shows that the history of deregulation in the power sector was in fact the insertion of a regulated market into the power generation and distribution system. Indeed, Lambert’s book—presented in a wonderfully accessible biographical and straightforward historical style—is truly radical.” David C. Brock, senior research fellow, Center for Contemporary History and Policy, Chemical Heritage Foundation

“It’s imperative for the new generation of energy entrepreneurs to make sense of the forces that shaped today’s electricity system. Bravo to Jeremiah Lambert for providing both an intriguing and compelling narrative and giving the reader a fighting chance to understand its complex history through the larger-than-life players that shaped it.” H. James Koehler, Edmund A. Walsh School of Foreign Service, Georgetown University