Whenever people bring up the issue of specific industries such as utilities needing special government treatment it makes me weary.
For instance, some suggest that market efficiency can be increased by adding regulation. Then when markets suffer, they clamor for more regulation to “solve” the problem. Perhaps the reason for the markets not performing well is the regulation in the first place?
I think the idea of utilities being so different from everything else is only true because the government defines them to be different and then forces people to act in that (mistaken) framework.
Regulation increases efficiency only when it comes about in a free market of justice.