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Many years ago Illinois legislators told us a fairy tale about deregulated gas and electric utilities. Competition would arise and prices would be reduced as companies overcame the enormous barriers to entry in this market. This was naive.
The bright light of reality has finally revealed the true essence of utility deregulation. It’s time to re-regulate utilities. Government oversight is needed to set a fair rate of return for the companies and an appropriate rate for the general public.
Otherwise the sucking sound we’ll hear will be the utilities cleaning out our wallets.
