Classical Economic View of the Term Paper

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With government-controlled prices, the company providing the power in an area gets a guaranteed profit, in exchange for setting a fixed price through this controlled monopolistic system. But in a competitive market, where no profit is guaranteed, companies can charge whatever the market supports. The fact consumers must use electricity to survive limits consumer choice, as does the fact that the 'competitive' utility market is not so competitive at all -- it functions more like an oligopoly, as the heavy and costly regulations and high barriers to market entry mean that consumers will always have a limited number of choices.

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Thus government regulation may be the better alterative, and actually promote free enterprise, by allowing industry as well as private consumers to pay lower utility bills.

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