New York, like several other states, is deregulating the industry, abolishing the old utility monopolies and allowing power suppliers to compete for customers.

"It's the last utility monopoly available for risk-averse investors," he said of water companies.

California's move is being closely watched in the 40 other states that are considering or planning the breakup of their utility monopolies.

And third, they intend to replace the current system of utility monopolies with competition, believing that will lead to lower prices.

Instead, they embraced the notion that new technologies, market forces and the breakup of utility monopolies would reshape the electricity industry for the better.

He fought privately owned utility monopolies, and set up competing companies owned by the city.

Under the old system, a local utility monopoly built and owned both the power plants and the wires in a region.

Since the turn of the century, US state governments have kept tight lids on utility monopolies' profits.

He soon turned to fighting privately owned utility monopolies.

The idea of ending electrical utility monopolies and opening the $200 billion power market to competition is a national policy craze.