Now that electric utility customers in California and New York are staring at their electric bills in disbelief, many are understandably asking, "What's so great about electricity deregulation?" Sudden, dramatic rate increases and electricity supply shortages in some areas are of concern to everyone. In fact, some policymakers are questioning the wisdom that has led 24 states and the District of Columbia to open their utility markets to competition, allowing customers to select their energy suppliers much as they now choose their long-distance phone carriers.
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