They're regulated no? I'm a bit confuse here. I thought utilities are regulated what is the reasoning for them being evil? Yeah they're natural monopolies but

They're regulated no? I'm a bit confuse here. I thought utilities are regulated what is the reasoning for them being evil? Yeah they're natural monopolies but they also regulated. I get that Enron mess California over but they got caught. What shady things that the electric companies in California are doing?