When markets get distorted so that price competition cannot occur everyone loses, consumers, taxpayers, utilities, governments and suppliers. Deregulation is not a failure. California Style Deregulation is a failure. California was first and could have established a model for other states to follow. Unfortunately, a number of political compromises made supply shortages and price spikes inevitable.
Jan. 17, 2001—In a filing seeking to win approval of their merger, the UK’s National Grid Group PLC and Niagara Mohawk Holdings Inc. proposed to cut electricity distribution rates 7.85% or $132 million, followed by a 10-year price freeze.