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My suspicion is that utility companies are not generally going to spend more on infrastructure if they have their price limits get cut, especially ones that can't handle their existing debt.
Maybe a better way to deal with this is to say that, for utilities with natural monopolies, like water companies, that aren't doing well, they can be compelled to sell part of their network to a neighboring utility that isn't having problems.
Maybe networks that have a natural monopoly should be in the hands of the public
Is there a neighbouring utility that isn’t also in similar trouble, though?
Natural monopolies for essential services should not be privately owned. You can't allow shareholders to take dividends while essential infrastructure rots, and it makes no sense for us all to be paying dividends to idle shareholders when we have no choice but to pay for the service they (are supposed to) provide.
Of course he did. Power is so concentrated in so few hands, there isn't even an option on the ballot paper to stop this nonsense.