A public utility company (usually just utility ) is an organization that maintains the infrastructure for a public service (often also providing a service using that infrastructure). Public utilities are subject to forms of public control and regulation ranging from local community-based groups to statewide government monopolies .
79-514: Alpena Power Company is a public utility company that provides electricity to most of Alpena County, Michigan , as well as southeastern Presque Isle County and the village of Hillman , in Montmorency County . The headquarters are located in Alpena , Michigan . The company was founded in 1881 by George N. Fletcher. they produce 1-2% of power for the area using 3 hydro electric dams located on
158-494: A legal monopoly . The worldwide postal system constituting the individual national postal systems of the world's self-governing states is coordinated by the Universal Postal Union , which among other things sets international postage rates, defines standards for postage stamps and operates the system of international reply coupons . In most countries a system of codes has been created (referred to as ZIP codes in
237-467: A postage meter is also used for bulk mailing. Postal authorities often have functions aside from transporting letters. In some countries, a postal, telegraph and telephone (PTT) service oversees the postal system, in addition to telephone and telegraph systems. Some countries' postal systems allow for savings accounts and handle applications for passports . The Universal Postal Union (UPU), established in 1874, includes 192 member countries and sets
316-626: A block of dots as a two-dimensional barcode . The "block of dots" method allows for the encoding of proof of payment of postage, exact routing for delivery, and other features. The ordinary mail service was improved in the 20th century with the use of planes for a quicker delivery. The world's first scheduled airmail post service took place in the United Kingdom between the London suburbs of Hendon and Windsor, Berkshire , on 9 September 1911. Some methods of airmail proved ineffective, however, including
395-565: A decrease in the efficiency of monopolistic companies. To protect the interests of consumers from unjustified overpricing and substandard service, there are special regulatory bodies whose powers are regulated by the Law "On Natural Monopolies" and other regulatory acts. Main functions: Interaction at different levels: It is important to note that the powers to regulate the activities of natural monopolies are distributed between federal and local authorities. Effective coordination of their actions
474-615: A form of meter label and thus do not need to be cancelled.) Documents should generally not be read by anyone other than the addressee; for example, in the United States of America it is a violation of federal law for anyone other than the addressee and the government to open mail. There are exceptions however: executives often assign secretaries or assistants the task of handling their mail; and postcards do not require opening and can be read by anyone. For mail contained within an envelope, there are legal provisions in some jurisdictions allowing
553-526: A governmental body may attempt to improve its image or attract investment. Traditionally, public services have been provided by public legal entities, which operate much like corporations, but differ in that profit is not necessary for a functional business. A significant factor in government ownership has been to reduce the risk that an activity, if left to private initiative, may be considered not sufficiently profitable and neglected. Many utilities are essential for human life, national defense, or commerce, and
632-733: A postal system in the Empire, appointing Franz von Taxis to run it. This system, originally the Kaiserliche Reichspost , is often considered the first modern postal service in the world, which initiated a revolution in communication in Europe. The system combined contemporary technical and organization means to create a stable transcontinental service which was also the first to offer (fee-based) public access. The Thurn und Taxis family, then known as Tassis, had operated postal services between Italian city-states from 1290 onward. For 500 years
711-532: A power and utilities industry outlook report by Deloitte identified a number of trends for the utilities industry: Issues faced by public utilities include: Alternative pricing methods include: Utility stocks are considered stable investments because they typically provide regular dividends to shareholders and have more stable demand. Even in periods of economic downturns characterized by low interest rates , such stocks are attractive because dividend yields are usually greater than those of other stocks, so
790-421: A power plant will only disadvantage the consumer as prices could be increased. If the infrastructure already exists in a given area, minimal benefit is gained through competing. In other words, these industries are characterized by economies of scale in production. Though it can be mentioned that these natural monopolies are handled or watched by a public utilities commission, or an institution that represents
869-619: A private mail service. Notably, the Cistercians had one which connected more than 6,000 abbeys , monasteries , and churches. The best organization, however, was created by the Knights Templar . In 1716, Correos y Telégrafos was established in Spain as public mail service, available to all citizens. Delivery postmen were first employed in 1756 and post boxes were installed firstly in 1762. In 1505, Holy Roman Emperor Maximilian I established
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#1733084558502948-428: A public utility is a question that was being discussed with the rise of internet usage. This is a question that was being asked due to the telephone service being considered a public utility. Since arguably broadband internet access has taken over telephone service, perhaps it should be a public utility. The Federal Communications Commission (FCC) in the United States in 2015 made their stance on this issue clear. Due to
1027-549: A slow return of capital ; last, technical difficulties can occur in the management of plurality of networks, example in the city subsoil . Public pressure for renewable energy as a replacement for legacy fossil fuel power has steadily increased since the 1980s. As the technology needed to source the necessary amount of energy from renewable sources is still under study, public energy policy has been focused on short term alternatives such as natural gas (which still produces substantial carbon dioxide ) or nuclear power . In 2021
1106-575: A small Telephone Boutique next to a historic Postal mansion his ancestors used to go to centuries earlier. Several European Post Carriers like Deutsche Post or Österreichische Post continue to use the Thurn & Taxis Post Horn in their company logo just like the global Phone Book of the World based in the old Postal mansion of King Louis XIV in Paris. In the United Kingdom, prior to 1840 letters were paid for by
1185-520: A system with an administrative nature of relations, where the authorities have the authority to issue mandatory instructions for these companies. Proponents of such a system emphasize that it allows the authorities to directly influence the commercial activities of public utilities, ensuring their compliance with state interests. This can be expressed in: However, such a system has its drawbacks. Excessive government intervention can lead to: Resource efficiency: Despite these limitations, utilities within
1264-519: A three-year agreement with the aim of working together to modernize the country's infrastructure. As part of this agreement, the EBRD will allocate funds for the implementation of a number of important projects aimed at: In addition to these two key areas, the EBRD will continue to support other initiatives aimed at improving the well-being of citizens of Kazakhstan. In the United Kingdom and Ireland ,
1343-408: Is a system for physically transporting postcards , letters , and parcels . A postal service can be private or public, though many governments place restrictions on private systems. Since the mid-19th century, national postal systems have generally been established as a government monopoly , with a fee on the article prepaid. Proof of payment is usually in the form of an adhesive postage stamp , but
1422-589: Is derived from Old French poste , which ultimately stems from the past participle of the Latin verb ponere 'to lay down or place'. So in the U.K., the Royal Mail delivers the post , while in North America both the U.S. Postal Service and Canada Post deliver the mail . The term email , short for "electronic mail", first appeared in the 1970s. The term snail mail is a retronym to distinguish it from
1501-910: Is in Egypt , where Pharaohs used couriers to send out decrees throughout the territory of the state (2400 BCE). The earliest surviving piece of mail is also Egyptian, dating to 255 BCE. The first credible claim for the development of a real postal system comes from Ancient Persia . The best-documented claim ( Xenophon ) attributes the invention to the Persian King Cyrus the Great (550 BCE), who mandated that every province in his kingdom would organize reception and delivery of post to each of its citizens. Other writers credit his successor Darius I of Persia (521 BCE). Other sources claim much earlier dates for an Assyrian postal system, with credit given to Hammurabi (1700 BCE) and Sargon II (722 BCE). Mail may not have been
1580-456: Is necessary to ensure coordinated work and achieve common goals. As a result, the activities of the regulatory authorities of natural monopolies are aimed at ensuring a balance between the interests of consumers, utility companies and the state. 2017 was marked by a new round of cooperation between Kazakhstan and the European Bank for Reconstruction and Development (EBRD). The parties signed
1659-613: The Eastern Interconnection , the Texas Interconnection , which is a single ISO, and the Western Interconnection . U.S. utilities historically operated with a high degree of financial leverage and low interest coverage ratios compared to industrial companies. Investors accepted these credit characteristics because of the regulation of the industry and the belief that there was minimal bankruptcy risk because of
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#17330845585021738-454: The European Bank for Reconstruction and Development (EBRD) notes that additional investments are needed to improve the efficiency and reliability of these systems. The analysis conducted by the EBRD revealed a number of problems faced by heating, water supply and sewerage systems in Kazakhstan. The report also provides examples of cities where networks are being upgraded with the support of
1817-568: The Han dynasty (206 BCE – 220 CE), who had relay stations every 30 li (about 15km) along major routes. The Tang dynasty (618 to 907 AD) operated a recorded 1,639 posthouses, including maritime offices, employing around 20,000 people. The system was administered by the Ministry of War and private correspondence was forbidden from the network. The Ming dynasty (1368 to 1644) sought a postal system to deliver mail quickly, securely, and cheaply. Adequate speed
1896-470: The U.S. Postal Service authorised the first tests of a secure system of sending digital franks via the Internet to be printed out on a PC printer, obviating the necessity to license a dedicated franking machine and allowing companies with smaller mail programs to make use of the option; this was later expanded to test the use of personalized postage. The service provided by the U.S. Postal Service in 2003 allows
1975-673: The Water Industry Commission for Scotland and the Utility Regulator in the United Kingdom, and the Commission for Regulation of Utilities and the Commission for Communications Regulation in the Republic of Ireland. Disabled community transport services may occasionally be included within the definition. They were mostly privatised in the UK during the 1980s. The first public utility in
2054-628: The Wodeyar dynasty (1399–1947) of the Kingdom of Mysore used mail service for espionage purposes thereby acquiring knowledge related to matters that took place at great distances. By the end of the 18th century, a postal system in India was in operation. Later this system underwent complete modernization when the British Raj established its control over most of India. The Post Office Act XVII of 1837 provided that
2133-486: The 17th century, the word mail began to appear as a reference for a bag that contained letters: "bag full of letter" (1654). Over the next hundred years the word mail began to be applied strictly to the letters themselves and the sack as the mailbag . In the 19th century, the British typically used mail to refer to letters being sent abroad (i.e. on a ship) and post to refer to letters for domestic delivery. The word Post
2212-607: The August Revolution, the Post and Wireless Office was renamed the Post Office under the Ministry of Transportation. In 1955, the Post Office was upgraded to the Ministry of Post. Some Chinese sources claim mail or postal systems dating back to the Xia or Shang dynasties , which would be the oldest mailing service in the world. The earliest credible system of couriers was initiated by
2291-550: The EBRD. These projects demonstrate how the introduction of modern technologies can improve the efficiency, reliability and environmental friendliness of heating, water supply and sewerage systems. Upgrading infrastructure is not just a matter of convenience. It is of vital importance for public health, environmental protection and ensuring the sustainable development of the economy of Kazakhstan. In most cases, public utilities in Kazakhstan are state-owned, which means that their activities are directly regulated by akimats. This creates
2370-655: The Governor-General of India in Council had the exclusive right of conveying letters by post for hire within the territories of the East India Company. The mails were available to certain officials without charge, which became a controversial privilege as the years passed. On this basis the Indian Post Office was established on October 1, 1837. The first well-documented postal service was that of Rome . Organized at
2449-490: The U.S. holds that rates paid by a utility's customers should be set at a level which assures that the utility can provide reliable service at reasonable cost. Over the years, various changes have dramatically re-shaped the mission and focus of many public utility commissions. Their focus has typically shifted from the up-front regulation of rates and services to the oversight of competitive marketplaces and enforcement of regulatory compliance. Mail The mail or post
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2528-477: The United States Postal Service's experiment with rocket mail . Receipt services were made available in order to grant the sender a confirmation of effective delivery. Before about the mid-nineteenth century, in regions where postal systems existed, the payment models varied, but most mail was sent unpaid requiring the recipient to pay the postage fee. In some regions a partial payment was made by
2607-520: The United States was a grist mill erected on Mother Brook in Dedham, Massachusetts , in 1640. In the U.S., public utilities provide services at the consumer level, be it residential, commercial, or industrial consumer. Utilities, merchant power producers and very large consumers buy and sell bulk electricity at the wholesale level through a network of regional transmission organizations (RTO) and independent system operators (ISO) within one of three grids,
2686-485: The United States, postcodes in the United Kingdom and Australia, eircodes in Ireland and postal codes in most other countries) in order to facilitate the automation of operations. This also includes placing additional marks on the address portion of the letter or mailed object, called "bar coding". Bar coding of mail for delivery is usually expressed either by a series of vertical bars, usually called POSTNET coding or
2765-455: The agent usually indicates by means of a cancellation that it is no longer valid for pre-payment of postage. The exceptions are when the agent forgets or neglects to cancel the mailpiece, for stamps that are pre-cancelled and thus do not require cancellation and for, in most cases, metered mail. (The "personalized stamps" authorized by the USPS and manufactured by Zazzle and other companies are in fact
2844-904: The commercial activities related to associated electric, natural gas , telecommunications, water, railroad, rail transit, and/or passenger transportation companies. For example, the California Public Utilities Commission (CPUC) and the Public Utility Commission of Texas regulate the utility companies in California and Texas, respectively, on behalf of their citizens and ratepayers (customers). These public utility commissions (PUCs) are typically composed of commissioners, who are appointed by their respective governors, and dedicated staff that implement and enforce rules and regulations, approve or deny rate increases, and monitor/report on relevant activities. Ratemaking practice in
2923-492: The company must offer higher yields to attract bond investors , driving up the utility's interest expenses. If the company's debt load and interest expense becomes too large, its credit rating will deteriorate, further increasing the cost of capital and potentially limiting access to the capital markets. Public utilities in Kazakhstan include heating, water supply, sewerage, electricity and communications systems. A report by
3002-512: The conditions for physical mail. Email (and in recent years social networking sites) became a fierce competitor to physical mail systems, but online auctions and Internet shopping opened new business opportunities as people often get items bought online through the mail. Modern mail is organized by national and privatized services, which are reciprocally connected by international regulations, organizations and international agreements. Paper letters and parcels can be sent to almost any country in
3081-690: The cost of adding another customer is small, and duplication of facilities would be wasteful. As a result, utilities were either government monopolies, or if investor-owned, regulated by a public utilities commission . In the electric utility industry, the monopoly approach began to change in the 1990s. In 1996, the Federal Energy Regulatory Commission (FERC) issued its Order No. 888 , which mandated that electric utilities open access to their transmission systems to enhance competition and "functionally unbundle" their transmission service from their other operations. The order also promoted
3160-496: The enormous funding necessary to rapidly industrialize Japan in the late 19th century. The postal service was one of Korea's first attempts at modernization. The Joseon Post Office was established in 1884. Another important postal service was created in the Islamic world by the caliph Mu'awiyya; the service was called barid , for the name of the towers built to protect the roads by which couriers travelled. By 3000 BC, Egypt
3239-418: The entire city. Cooperative utilities are owned by the customers they serve. They are usually found in rural areas. Publicly owned utilities are non-profit. Private utilities, also called investor-owned utilities , are owned by investors , and operate for profit, often referred to as a rate of return . A public utilities commission is a governmental agency in a particular jurisdiction that regulates
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3318-416: The essential services they provide. In recent decades several high-profile utility company bankruptcies have challenged this perception. Public utilities were historically regarded as natural monopolies because the infrastructure required to produce and deliver a product such as electricity or water is very expensive to build and maintain. Once assets such as power plants or transmission lines are in place,
3397-517: The framework of this system can demonstrate high efficiency in the use of labor resources and management costs. Residents of Kazakhstan receive water, sewerage and heating from companies recognized by the state as natural monopolies. This means that there is no competition in these areas, and tariffs are set by a special state body – the Committee for Regulation of Natural Monopolies, Competition and Consumer Protection (CRNM and CP). In order to ensure
3476-405: The franks to be printed out on special adhesive-backed labels. In 2004 the Royal Mail in the United Kingdom introduced its SmartStamp Internet-based system, allowing printing on ordinary adhesive labels or envelopes. Similar systems are being considered by postal administrations around the world. When the pre-paid envelope or package is accepted into the mail by an agent of the postal service,
3555-507: The government. There are many different types of public utilities. Some, especially large companies , offer multiple products, such as electricity and natural gas. Other companies specialize in one specific product, such as water. Modern public utilities may also be partially (or completely) sourced from clean and renewable energy in order to produce sustainable electricity. Of these, wind turbines and solar panels are those used most frequently. Whether broadband internet access should be
3634-445: The infrastructure, e.g. power plants, telephone lines and water treatment facilities. However, over the past several decades, traditional public utilities' monopoly position has eroded. For instance, wholesale electricity generation markets, electric transmission networks, electricity retailing and customer choice, telecommunications , some types of public transit and postal services have become competitive in some countries and
3713-400: The last postmaster, Maximilian Karl, 6th Prince of Thurn and Taxis , into real estate, most of it continuing to exist today. The Phone Book of the World has its roots in the long history of the avant-garde telecommunications family Thurn & Taxis. The directory is the result of Johannes, 11th Prince of Thurn & Taxis transmitting PTT culture to a student and helping with the opening of
3792-428: The mail and packages often surveyed and their contents sometimes edited out (or even in). There have been cases over the millennia of governments opening and copying or photographing the contents of private mail. Subject to the laws in the relevant jurisdiction, correspondence may be openly or covertly opened, or the contents determined via some other method, by the police or other authorities in some cases relating to
3871-470: The mail service. Foreign observers, such as Marco Polo , have attested to the efficiency of this early postal system. Each station was maintained by up to twenty five families. Work for postal service counted as military service. The system was still operational in 18th century when 64 stations were required for a message to cross Mongolia from the Altai Mountains to China. The modern Japanese system
3950-603: The message carrier (called Chapar ) would ride to the next post, whereupon he would swap his horse with a fresh one for maximum performance and delivery speed. Herodotus described the system in this way: "It is said that as many days as there are in the whole journey, so many are the men and horses that stand along the road, each horse and man at the interval of a day's journey; and these are stayed neither by snow nor rain nor heat nor darkness from accomplishing their appointed course with all speed". The verse prominently features on New York's James Farley Post Office , although it uses
4029-692: The postal business based in Brussels and in Frankfurt was passed from one generation to another. Following the abolition of the Empire in 1806, the Thurn-und-Taxis Post system continued as a private organization into the postage stamp era before being absorbed into the postal system of the new German Empire after 1871. 1867 July 1 the State of Prussia had to make a compensation payment of 3.000.000 Thalers reinvested by Helene von Thurn & Taxis , daughter-in-law of
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#17330845585024108-454: The primary mission of this postal service, however. The role of the system as an intelligence gathering apparatus is well documented, and the service was (later) called angariae , a term that in time came to indicate a tax system. The Old Testament ( Esther , VIII) makes mention of this system: Ahasuerus , king of Medes , used couriers for communicating his decisions. The Persian system worked using stations (called Chapar-Khaneh ), whence
4187-416: The public utility market. The transmission lines used in the transportation of electricity , or natural gas pipelines , have natural monopoly characteristics. A monopoly can occur when it finds the best way to minimize its costs through economies of scale to the point where other companies cannot compete with it. For example, if many companies are already offering electricity, the additional installation of
4266-411: The public. Common chariots called Dagana were sometimes used as mail chariots in ancient India. Couriers were used militarily by kings and local rulers to deliver information through runners and other carriers. The postmaster, the head of the intelligence service, was responsible for ensuring the maintenance of the courier system. Couriers were also used to deliver personal letters. In South India ,
4345-428: The quicker email. Various dates have been given for its first use. The practice of communication by written documents carried by an intermediary from one person or place to another almost certainly dates back nearly to the invention of writing . However, the development of formal postal systems occurred much later. The first documented use of an organized courier service for the dissemination of written documents
4424-417: The recipient and the cost was determined by the distance from sender to recipient and the number of sheets of paper rather than by a countrywide flat rate with weight restrictions. Sir Rowland Hill reformed the postal system based on the concepts of penny postage and prepayment. In his proposal, Hill also called for official pre-printed envelopes and adhesive postage stamps as alternative ways of getting
4503-623: The recording of identities of sender and recipient. The privacy of correspondence is guaranteed by the constitutions of Mexico , Colombia , Brazil and Venezuela , and is alluded to in the European Convention on Human Rights and the Universal Declaration of Human Rights . The control of the contents inside private citizens' mail is censorship and concerns social, political, and legal aspects of civil rights . International mail and packages are subject to customs control, with
4582-502: The risk of public harm with mismanagement is considerably greater than with other goods. The principle of universality of utilities maintains that these services are best owned by, and operating for, the public. The government and the society itself would like to see these services being economically accessible to all or most of the population. Furthermore, other economic reasons based the idea: public services need huge investments in infrastructures , crucial for competitiveness but with
4661-417: The role of an independent system operator to manage power flow on the electric grid. Later, FERC Order No. 889 established an electronic information system called OASIS (open access same-time information system) which would give new users of transmission lines access to the same information available to the owner of the network. The result of these and other regulatory rulings was the eventual restructuring of
4740-566: The rules for international mail exchanges as a Specialized Agency of the United Nations . The word mail comes from the Middle English word male , referring to a travelling bag or pack. It was spelled in that manner until the 17th century and is distinct from the word male . The French have a similar word, malle , for a trunk or large box, and mála is the Irish term for a bag. In
4819-532: The sender to pay for the postage, at a time when prepayment was optional, which led to the invention of the postage stamp, the Penny Black . The postal system was important in the development of modern transportation. Railways carried railway post offices . During the 20th century, air mail became the transport of choice for inter-continental mail. Postmen started to use mail trucks . The handling of mail became increasingly automated. The Internet came to change
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#17330845585024898-435: The sender. Today, worldwide, the most common method of prepaying postage is by buying an adhesive postage stamp to be applied to the envelope before mailing; a much less common method is to use a postage-prepaid envelope . Franking is a method of creating postage-prepaid envelopes under licence using a special machine. They are used by companies with large mail programs, such as banks and direct mail companies. In 1998,
4977-411: The smooth operation of public utilities, the state also controls the investment programs of monopolistic companies. This is handled by the Committee on Construction and Housing and Communal Services. Such a system allows you to regulate prices for utilities and direct investments to infrastructure development. However, this system also has its disadvantages. For example, the lack of competition can lead to
5056-668: The state, private firms, and charities ran the traditional public utilities. For instance, the Sanitary Districts were established in England and Wales in 1875 and in Ireland in 1878. The term can refer to the set of services provided by various organizations that are used in everyday life by the public, such as: electricity generation , electricity retailing , electricity supplies, natural gas supplies, water supplies, sewage works , sewage systems and broadband internet services. They are regulated by Ofgem , Ofwat , Ofcom ,
5135-520: The telephone service having been considered a public utility, the FCC made broadband internet access a public utility in the United States. Public utilities have historically been considered to be a natural monopoly . This school of thought holds that the most cost-efficient way of doing business is through a single firm because these are capital-intensive businesses with unusually large economies of scale and high fixed costs associated with building and operating
5214-486: The thunder bay river. Alpena Power has one 138KV interconnection with Consumers Energy / METC . This article about a United States company or corporation involved in the energy industry is a stub . You can help Misplaced Pages by expanding it . Public utility Public utilities are meant to supply goods and services that are considered essential; water , gas , electricity , telephone , waste disposal , and other communication systems represent much of
5293-433: The time of Augustus Caesar (62 BCE – 14 CE), the service was called cursus publicus and was provided with light carriages ( rhedæ ) pulled by fast horses. By the time of Diocletian , a parallel service was established with two-wheeled carts ( birotæ ) pulled by oxen . This service was reserved for government correspondence. Yet another service for citizens was later added. In 1802, the first Vietnamese postal service
5372-518: The traditional monopoly-regulated regime to one in which all bulk power sellers could compete. A further step in industry restructuring, "customer choice", followed in some 19 states, giving retail electric customers the option to be served by non-utility retail power marketers. Public utilities can be privately owned or publicly owned . Publicly owned utilities include cooperative and municipal utilities. Municipal utilities may actually include territories outside of city limits or may not even serve
5451-473: The translation "Neither snow nor rain nor heat nor gloom of night stays these couriers from the swift completion of their appointed rounds". The economic growth and political stability under the Mauryan Empire (322–185 BCE) stimulated sustained development of civil infrastructure in ancient India . The Mauryans developed early Indian mail service as well as public wells, rest houses, and other facilities for
5530-483: The transport of foreign and domestic tribute specifically and the conduct of trade in general. By the end of Kublai Khan's rule, there were more than 1400 postal stations in China alone, which in turn had at their disposal about 50,000 horses, 1,400 oxen, 6,700 mules, 400 carts, 6,000 boats, more than 200 dogs, and 1,150 sheep. The stations were 25 to 65 km (16 to 40 mi) apart and had reliable attendants working for
5609-557: The trend towards liberalization , deregulation and privatization of public utilities is growing. However, the infrastructure used to distribute most utility products and services has remained largely monopolistic. Key players in the public utility sector include: Public utilities must pursue the following objective given the social responsibility their services attribute to them: The management of public utilities continues to be important for local and general governments . By creating, expanding, and improving upon public utilities,
5688-443: The utility sector is often part of a long-term buy-and-hold strategy. Utilities require expensive critical infrastructure which needs regular maintenance and replacement. Consequently, the industry is capital intensive , requiring regular access to the capital markets for external financing. A utility's capital structure may have a significant debt component, which exposes the company to interest rate risk . Should rates rise,
5767-551: The whole territory of his empire the system used by Franks in northern Gaul and connected this service with that of missi dominici . In the mid-11th century, flax traders known as the Cairo Geniza Merchants from Fustat , Egypt wrote about using a postal service known as the kutubi. The kutubi system managed routes between the cities of Jerusalem, Ramla, Tyre, Ascalon, Damascus, Aleppo, and Fustat with year-round, regular mail delivery. Many religious orders had
5846-489: The world relatively easily and cheaply. The Internet has made the process of sending letter-like messages nearly instantaneous, and in many cases and situations correspondents use email where they previously would have used letters. The volume of paper mail sent through the U.S. Postal Service has declined by more than 15% since its peak at 213 billion pieces per annum in 2006. Some countries have organized their mail services as public limited liability corporations without
5925-450: Was always a problem, because of the slow overland transportation system, and underfunding. Its network had 1,936 posthouses every 60 li along major routes, with fresh horses available every 10 li between them. The Qing operated 1,785 posthouses throughout their lands. More efficient, however, was the system linking the international settlements, centered around Shanghai and the Treaty ports. It
6004-473: Was developed in the mid-19th century, closely copying European models. Japan was highly innovative in developing the world's largest and most successful postal savings system and later a postal life insurance system as well. Postmasters play a key role in linking the Japanese political system to local politics. The postmasters are high prestige, and are often hereditary. To a large extent, the postal system generated
6083-497: Was established under the Nguyen dynasty , under the Ministry of Rites. During the Nguyen dynasty, official documents were transported by horse and other primitive means to stations built about 25-30 kilometers apart. In 1904, three wireless communication offices were established, and in early 1906 they were merged with the postal service to form the Post and Wireless Office. In 1945, after
6162-600: Was the main communication system for China's international trade. Genghis Khan installed an empire-wide messenger and postal station system named Örtöö within the Mongol Empire . During the Yuan dynasty under Kublai Khan , this system also covered the territory of China. Postal stations were used not only for the transmission and delivery of official mail but were also available for travelling officials, military men, and foreign dignitaries. These stations aided and facilitated
6241-438: Was using homing pigeons for pigeon post , taking advantage of a singular quality of this bird, which when taken far from its nest is able to find its way home due to a particularly developed sense of orientation. Messages were then tied around the legs of the pigeon, which was freed and could reach its original nest. By the 19th century, homing pigeons were used extensively for military communications. Charlemagne extended to
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