[legion]

Supe, believe it or not, I think the power industry should not be deregulated--for all of the reasons you have cited. Being a natural monopoly, the market cannot be efficient--and the only viable alternative is regulation.

However, when an efficient market is present (or can be created--which is an impossibility for electricity), I prefer an efficient market to regulation. Insurance, groceries, cell phones, etc. are all in efficient markets.