From today's NY Times:
But even as some investors have profited handsomely by buying and sometimes quickly reselling power plants, electricity customers, who were supposed to be the biggest beneficiaries of the new system, have not fared so well. Not only have their electricity rates not fallen, in many cases they are rising even faster than the prices of the fuels used to make the electricity. Those increases stand in contrast to the significantly lower prices in other businesses in which competition was introduced, such as airlines and long-distance calling.
As I have argued in the past, deregulation is not always a good thing. This is especially true in an arena where the competition is unlikely to be completely open, and even more so when the few who can afford to sit in the game can also buy politicians wholesale.
Read the whole story.
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