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<br />"'OfU'IIIfSl', in CCrlailllll..lanL'l.:~, hl~l1 Plj(l'"
<br />(all be <.i factor III LI dl'll'r1\1111~tli(ln 10"'\111,:11
<br />,"Will ck~:lfh,;il\" 10 flll'll'lll \If lIJ.lllr;d ~~l"
<br />a~ an t,'11CI!D ...llllL"....t,..
<br />
<br />.
<br />
<br />.
<br />
<br />lives, by Ihcir ntlll-prnfit st~llIS, fr<'1Tl deril'ing lIndll~ profits from lhal
<br />power, hil' 'II", pnl\"idrd a "yanl,tick" against which Ihe public CO\lld
<br />mea.llIre and <:nmrarc I he performance of inl'estor-owned lItililies. The
<br />Preft~rcllc,~ nall'c h", thllS help~d ~\.en the '~lIstom~rs of inveslor-
<br />()wn\~d Hlitllil~" In nnw,,, d~(H'1.: plw,.,cr..\l \h~ lowest \,;o~t comm~nsural('
<br />\lith '''"l1d I'nlic~. Th~ pril'ate IIlilllh:S have arglled for years Ihal thc
<br />""arclS! i,.k.' I heN) j, 1I1111l1l1lcl, ,ill'." feckrally general,'d power is ,ub.
<br />sidi/l'd ,hrdllt~h Ill\\" illll'rL'SI raft'... and inadequate returns Oil in\'e~lll1ellt.
<br />Th;lI I'ninl i" of ~')m":, di,p'll."l by ad,,'cale, of plIhli~ rower. N')lIe.
<br />Ihtkss, ~b plt.'rL"l'l..:Jl~t.' rh)\\."('r bl.'(~~Ill~ ct\'ailabh..' to munil:ipalities anJ
<br />IHHI-prnfil aS~lh.'i;i1illl\"" 1111..' rail'''' of pri\'alc 1I1ililies \\'erc gt'nl~rdlly
<br />rCdUL'12d III i"c..pnl1.-;t.: 1,; I Ill' 10\\' 'tIll'.-, nrkl~d hy tho~(' agl.'nt.:ics. SIIHI1t..,.,
<br />t)f Ihl' rail' -.,11"11..1111"1...... df 1IIili(iL~ illlht: \'i('inily of thl-' T~nnC'.":;~l'e \'allI..'Y
<br />AlllhnnlY ha\,: ,,11l)\\1l llidl rall:~, l!~Il~lally J~din~ a:-; rrl)'Iilllily In I hI.'
<br />prckrelh\.: l-'II',Ii~1I1L'J"', III llil' TV.\ inLTl',hc=-,. Thl' hCIlt'fils flnwin!! fr~)1ll
<br />lhl' Pre i"l.'fl' II t: I.' Clall.';\,.: h;.\\'C Ihll": f1o\\'l.'d III Ihl.' gl,;'lll'ral pllhli~: a.., \\ ell ;}..
<br />to ~:lI~llll1h:r.., or 1I111I1h.:ipa' .illd t.:\lopl.'rall\-'i:'ly uwnl"O ulllilic:-..
<br />
<br />C.
<br />
<br />TIll' I'ret"uell"c (.Iau,,' l'role,'I, .\I(ain'llhe Ahll,es
<br />"fMulI"I'"I) I'""u.
<br />
<br />Till,;' l.'-"'1clllI:dly II 1I11111p\ 111...1 il: IIJIUI...: Ill' L'll'L'lrit.' utilitit.':-> i.., J rnH.:ia' l..'l1n-
<br />sidl'lalioll ill L".-:t1llilllllJ:! lilt.' ~:j)lIlilllllng Ih'l.'d for I hI.' Prt:h.'fL'IlCt' Clall...l'.
<br />rhL'lIlas.'ii\'L' :.1/.1' nll'k(llh..'al gl'llclilling piau"', rl:qlllrillg hl'a\~ \:apitali.
<br />I<lIillll. hHlg kilt! lillll';": fill' ;..\)II"llllllinn ~lr f;h.:ilitic..." and rdiahll.' !dIL"
<br />...:a:,t.'. Ill' fldlll.... 1"I\,.:I'll-" IlldkL''1 rl.'l;til ll)r.llkli,ioll i.IllltHll! twn 111 Illnfl'
<br />1Ilililil''' III ill It.' ~L'llgl;lp"i..:;t1 arl';t iIJlIH':...~.ihk .ll. dllL';,..I, irnpral.:til....,hk in
<br />Illll.'11 ill~laIILl..'.. Itl 11.'(1)!1-IlIt1tHlll!" JIIl''''l' fal'IIW'", ~Iilll', Ilh.:al and rl'lkral
<br />gO\'l-'nUlIl'lIh h.l\"..' '''dlll IIfl.' (;f'./ npc..'filll'd nIl 111(' ptllll..'Y ,ha/ rhc public
<br />,,,,'ill hl' hl:IWfill:'d h.\ rc'.,ll klllll:' "I)I1IIWlili'lIl dllHlUg tllililk~. Tht~ r.:~ult i.,
<br />{hI..' dl~a~~d~, ~'I\' ~(I\ ...., \\l\It.'IH-:-.alh..:\lI..H\L'd I\\lHlllpohL's {}r franchlsl~~.
<br />'1Ib' gr:llll .'1 fllt)lllll'dlil.... hllllllil~' l'tlIllPilllit'..tTI.'alc., Ilh' pnlC'nllall'an
<br /><11111'.1: ;I"'; \\cll ~l~. Ill!" ,_',:,l[HHllll. "cJ1efil III ((IIl..lII1lL.r.... P,i\'.lIl' UlJpnlil-
<br />lilln.. ;11'(' ..:r(';lkd prim;llil.\ ;j', \'l:hit."h.:~ ft'll Il'lurning l1la\imurH profi", III
<br />IllL'ir ..liardlnhkl'''. ('llIIlP:t1Ill'-' l:arll inl'll';I~cd profit'! hy maintaining a..
<br />Lug.L';1 difkll'1l11;i1 ;1....1'1I..:dhk Ild\\l'l'll \'n~h alld 'lL'lling pri('l'''', or hy l'\.
<br />p;\Ildillg I ilL' 111;11 ~_c, ill ",hi,l. Iht.jr ~o{ld.. .\I"l' '1t1ld ill illll.rfnrt III nhlain
<br />int.:r~.I:,cd prllrif:.. '1Irtlli.~~11 ,!-!Jl'arCI \'nJttlllt.: alld hl\\l..'r ulli, t.'oSh. ('Plll-
<br />Pl'lilillll ~1.T\l'" a~ ;1 \.I)lllllL"n"l'it~11I ag;tilhl t.:\nlbilanl priL't:~, and lilllih
<br />Itll.- 1.'\/('111 11\ \\ilh'h ;\ ':I\ll1p..lll\ l';\I1 ft",jIlI.'C ('uq, hy dc..:rellsing 11ll'
<br />qualilY nf il'. !!I'Iild... ;!Ild -'l'n'i,'l'~. Till dL'dlion nf ;1 gl'l\'I'rllllll'lIl-..<Il1C-
<br />li\1I1('d 11Io}lJdPI)I~ 11..']1111\1.'''' IlIv,1..' hCIlt..'I"i...I.d 'l.'lpC(l:-, nl i.:'nll1pctllillll, hill
<br />doc, Ilolliill~: III ,dl~.T llll' ha..\\.' ratillll;dc Ill! the c:\io..;lclh.'l' of Ilk \:11111-
<br />pall~ --III\.' III <I ".IIIII/;llillll df j1flll'ih-and d{ll~~ nnl alll'f Iht: O1l..'lhnJ~ (If
<br />oblaining Iltn..c pi "lit.. Thlls. pri\";')fdy 0\\ Ilt..'d 1IIiliti('~ arc lItllL' (l) Sl'l.'~
<br />incrcused priLI..~~ f\H" Ilh:ir "'I'f"\'i:":l'~ \\iIIWIII ha\'ing 11) \\orry aholll the
<br />effccl 1111 I !lL'i r '1h:lIl' Ill' I Ill' !Harkel fnr ekd I iL'i(~ . .'-'
<br />The puhlit,' lItilil~ 11'glll:lr,'r~' l:ommi.....il\Il.., I-Hl h~)lh Iht' -.,I<tli.' ilnd '-"ed.
<br />era I k'\'cb, wcre c...li!bli"hL'd ltlll'glilatl' pri\"iJldy (l\\Il('u ulililiL'~ hl pili.
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<br />20
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