How we got here
It’s a century long knock-down-drag-out battle between the needs of the public and an unyielding drive for corporate profits and control. Over time, winners and losers have continued to change but the battle to protect small businesses and consumers has never ended.
For the next 54 years, utilities are restricted by federal law from entering into unregulated markets, creating pyramid corporate structures and cross-subsidizing non-utility businesses.
Despite massive political spending and lobbying, most states have found a way to enact and enforce regulations to protect citizens from monopoly utility expansions. Florida has yet to do so.
Florida’s Failure to Regulate, MEP Coalition Report 2019
A century long battle but the facts have not changed.
The use of holding companies to allow utility monopolies to acquire or set up new businesses in other unregulated industries has been debated since the 1920’s. Referred to as “self-dealing” and “pyramiding”, there has been an unending battle between the need to provide stable and efficient power infrastructure and protect ratepayers from the relentless drive for utility profits.