Maine’s utility regulators have occasionally ventured into the uncharted waters of utility regulation reform. Some such efforts have been more successful than others. Leslie Hudson and Stephanie Seguino document the process and outcomes of one such attempt at alternative electric utility regulation, the Electric Revenue Adjustment Mechanism, or ERAM. They endeavor to answer several questions arising from this brief and failed, but interesting regulatory experiment.
Hudson, Leslie, and Stephanie Seguino. "Assessing Maine’s ERAM experiment." Maine Policy Review 3.2 (1994) : 77 -88, http://digitalcommons.library.umaine.edu/mpr/vol3/iss2/9.