NERC mandatory reliability standards: A 10-year assessment

The conclusions are that the NERC construct offers questionable benefits when compared to the cost. The NERC construct also is called into question as to whether it achieves its purpose in the most economically efficient manner by imposing its Reliability Standards on a broadly defined electric market and suggests that further segmentation of the electric market based on relevance might enhance efficiency. Finally, suggestions are offered as to how the development of technology since the imposition of the NERC construct, leveraged with pricing and other market mechanisms, might offer a more efficient outcome.