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This paper proposes a framework of policies to guide the future development of America's electric transmission grid so that the electric power industry will be able to serve more effectively the changing needs of the U.S. economy and society. The paper provides a factual overview of the American electric power industry, with a focus on high voltage transmission. The current framework of public policies affecting the electric industry and, specifically, the transmission grid are summarized, and a range of proposals for legislative and regulatory policy reform are analyzed. Finally, a set of recommendations is provided which would accelerate innovation and the evolution of an end-to-end smart transmission grid in America.
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