People often think utilities should be regulated by government.
But they are, and have been forever.
However, in Illinois we see that the rates might well have been higher in order to pad the bank accounts of certain politicians, and the public paid for that.
July 18, 2020
Huge Illinois utility paying $200 million to settle bribery case implicating the real boss of Illinois politics, House Speaker Michael Madigan
By Thomas Lifson
Anyone who understands politics in the corrupt state government of Illinois realizes that the power of Michael Madigan, Speaker of the state House of Representatives since 1983 except for two years, dwarfs that of the state’s governor. He’s been called “the most powerful Democrat politician in the country” with good reason, and over the years AT has covered him (here, here, and here for instance) for his power, and lately for the appearance that federal investigators have been wiretapping associates and maybe, just maybe closing in on him.
[more at link]