What is not fungible is the service you are signing up for. As a home consumer you cannot switch from your current electricity provider to a cheaper one... tha

What is not fungible is the service you are signing up for. As a home consumer you cannot switch from your current electricity provider to a cheaper one... that operates in a different continent. The link you provided is spot on and does not contradict in any way what I wrote. "Natural monopolies were recognized as potential sources of market failure as early as the 19th century" Another good page: https://en.wikipedia.org/wiki/Captive_market https://en.wikipedia.org/wiki/Captive_market