Inevitable, but worth noting that state energy regulators are finally revisting rate-base-driven systems-utilities earning a premium on deployed capital—and their role in increasing (consumer) energy costs. The combination has been a flywheel for runaway capex spending, made worse by by AI data centers.

https://www.utilitydive.com/news/new-jersey-regulators-begin-rethinking-electric-utility-business-model/812799/