Cory Doctorow at Pluralistic: Americans served by privately owned electric companies saw their rates increase 49% over inflation over the last three years. Americans served by publicly electrical utilities saw rates go up at 44% below inflation over the same period.

Cory:

Power is that much-theorized economic marvel: a “natural monopoly.” Once someone has gone to the trouble of bringing a power wire to your house, it’s almost impossible to convince anyone else to invest in bringing a competing wire to your electrical service mast. For this reason, most people in the world get their energy from a publicly owned utility, and the rates reflect social priorities as well as cost-recovery. For example, basic power to run lights and a refrigerator might be steeply discounted, while energy-gobbling McMansions pay a substantial premium for the extra power to heat and cool their ostentatious lawyer-foyers and “great rooms.”

But in America, we believe in the miracle of the market, even where no market could possibly exist because of natural monopolies. That’s why about 70% of Americans get their power from shareholder-owned companies, whose managers' prime directive is extracting profit, not serving their communities.