David Nicklaus writes a column on the drastic electricity price increases in Illinois, and finds a common villian: The government.
The Legislature, after all, passed the deregulation law in 1997 that led to this year’s rate increases. Consumers benefited for a decade from a rate cut and then a rate freeze. But the utilities, which no longer own power plants directly, had to buy power on the open market beginning this year and pass the cost on to consumers.
Statinalizing the power companies won’t solve the problems that exist when physical suppy and demand collide. Government officials only trade in perceptions.