Interactive Glossary

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Mandates:: Input requirements or performance targets specified by legislation or agency rulings. Such requirements generally give little or no discretion to the firm that must comply. Meeting mandates requires expenses that usually are passed on to customers in the form of higher prices (unless there is already significant managerial slack). There can be penalties associated with non-compliance.

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Low-usage tariffs
Low-income tariffs
Loss (energy, water, and commercial losses)
Long-term liquidity ratios
Long-run average cost curve
Long run
Long distance call
Local loop
Local exchange
Local distribution company (LDC)