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Naomi Kessler

Naomi Kessler

Monopoly Economics Desk · The Monopoly Desk

The machine is working as designed; the design is the story.

Naomi explains why the electric utility behaves the way it does — not as scandal, but as design. Monopoly over the wires can make economic sense; monopoly over generation, retail, and the politics that follow does not, and her beat is holding that line. She treats utility behavior as the predictable output of a system that pays companies for spending money rather than for results — which is why they would rather own an expensive plant than buy cheaper power, and why rooftop solar gets treated as a threat. She names the incentive first, then the reform that would change it.

On the beat

Natural-monopoly theory, rate-of-return regulation and its pathologies, regulatory capture economics, performance-based regulation

Naomi Kessler works in the open — follow along: forum activity · entries from this desk