Also, it is very easy for most people to ignore how the rate structure will shape the evolution of demand.


I guess, in this case, the evolving electricity consumer was instructed that supply was infinite without a 1-cent increase in the price, and so inverse-rationing was the way to go.


Meaning, the assumption was that there would be infinite demand at the fleecing price - they could sell an unlimited quantity there - and that is what they got.


Or something like that!


Okay, now let's bore everyone with a debate over this asinine notion of a "natural monopoly." (I'm already laughing out loud to myself at just the thought(How do you spend your Sunday mornings?)


leroy