the problem with UK privatization is the same as with California PG&E ... it's private in name, but the incentives are all bad. there was (is) no point for opt

the problem with UK privatization is the same as with California PG&E ... it's private in name, but the incentives are all bad. there was (is) no point for optimization on costs as the profit was a fixed percentage (so it ended up quite the opposite) instead of a price cap. (ideally the cap would be a simple formula based on input prices, to at least make the lobbying transparent. sure, this also has a built in profit percentage, but the important difference is that the profit is not fixed, so the private company is incentivized to push the costs down.) see https://www.noahpinion.blog/p/energy-bell-the-sketch-of-an-idea https://www.noahpinion.blog/p/energy-bell-the-sketch-of-an-i...