31.   Utilities like Duke that have operated as regulated monopolies have found it hard to make the transition to a free market.

32.   Unlike most businesses, utilities have always operated as regulated monopolies, each serving its own local market and legally shielded from competition from outsiders.

33.   Utilities have argued that after deregulation, they should be reimbursed for some long-term obligations taken on only because they expected to remain regulated monopolies.