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TeachMeFinance.com - explain Used and useful Used and useful -- A concept used by regulators to determine whether an asset should be included in the utility's rate base. This concept requires that an asset currently provide or be capable of providing a needed service to customers. About the author Mark McCracken Author: Mark McCracken is a corporate trainer and author living in Higashi Osaka, Japan. He is the author of thousands of online articles as well as the Business English textbook, "25 Business Skills in English". Copyright © 2005 by Mark McCracken, All Rights Reserved. TeachMeFinance.com is an informational website, and should not be used as a substitute for professional medical, legal or financial advice. Information presented at TeachMeFinance.com is provided on an "AS-IS" basis. Please read the disclaimer for details.