If you’re talking about California utilities the rate decisions are all on the CPUC website. Rate increases absolutely aren’t rubber stamped, the CPUC routinel

If you’re talking about California utilities the rate decisions are all on the CPUC website. Rate increases absolutely aren’t rubber stamped, the CPUC routinely denies expenditures and the comedians rate increases. But speaking more of the hypothetical, if set up correctly a regulated private utility could be incentivized to reduce costs to capture a higher profit at the same rate.