While the point here is generally true, investor owned utilities have revenues (i.e. electricity rates) that are tied to their expenses. That's the reason they

While the point here is generally true, investor owned utilities have revenues (i.e. electricity rates) that are tied to their expenses. That's the reason they have to ask for a rate increase; if the rate increase was designed to juice their profit margin to 30%, it would likely be denied (not guaranteed, but likely). So this is one industry where you'd expect revenue to increase in proportion to expenses.