Fortnightly Magazine - July 1 1998


Why am I not convinced that electric utilities really want to sell off their generating plants? A wires company--is that something to aspire to? Nobody likes to see wires strung every which way along the street. Isn't that why electric utilities call them telephone poles?

I hear utilities say that power production looks too risky. But is a wires-only strategy a retreat back into the womb of regulation?

If power companies expect rates for transmission and distribution to remain regulated, I'm a skeptic. One reason is what's happening with gas pipelines.