Monopoly utility regulation is a throwback to medieval times. Kings granted monopolies and enforced the concept of a “just price” for goods and services.

As this ancient system of privilege and exploitation broke down, it was replaced by open entry into any endeavor and natural prices developed by competition.

Historically, the rulers who were called “great” earned the title by the large scope and intensity of robbing their fellow men.

Under capitalism, great wealth goes to those like Bill Gates and Sam Walton whose efforts benefit others.

The capitalist system channeled the efforts and energy of those with ability into providing goods and services instead of looting as a means of rising to the top.

The coming of utility regulation more than 100 years ago was not a progressive move but a regression to a less enlightened time. Monopoly privilege and the setting of prices by decree are remnants of the feudal system with an authoritarian elite lived off work of the productive class.

Until we abolish utility regulation energy users are just rate serfs, toiling for the benefit of the utilities.

Jim Clarkson is an energy consultant and CEO of Resource Supply Management in Columbia.