[johnea]

The existing comments here already capture most of my thoughts on the subject: users reap benefit + shareholder loose revenue = disaster!

Disaster for who? Not the users that's for sure.

Another aspect of this in the US electric utility context is that if more power is genrated locally, and exxcess is distributed as locally as possible, then long distance distribution is reduced. THere aren't as many needs, and certainly this reduces planned expansion of long distance distribution.

However, this is also a "disaster" as defined above, since construction of those long distance transmission facilities are also payed for with public bonds and therefore direct taxpayer funding.

The economist never ceases to amaze in this twisted logic...