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Essay text:
Almost all interested parties accept the fact that
technological change and altered views of the nature of government
intervention have made the idea of increased competition attractive (Johnson
35). But just how should the competitive market be structured? Some
participants want complete deregulation so they can derive the fullest
benefits of competition quickly. Others argue that the unfettered free
market, however, will cause hardship and inequities (36).
Stability in electrical power has traditionally depended on a system highly
regulated by federal and state government. In recent years, however, many
leaders in government and industry alike have pushed for deregulating the
system to make it more responsive to changes in business and technology and
more open to the forces of free-market competition (Craven C5)...
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