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Price Controls Create Shortages, Part 998,749,945

From Friday’s Wall Street Journal:

Electricity transmission and distribution are still overwhelmingly in the hands of government entities. State utilities sell power at highly discounted rates, a policy meant to keep voters happy. The upshot is that utilities have accumulated huge losses and aren’t in position to invest in grid upgrades. The rate regulations make it unpalatable for private firms to venture into those sectors.

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