When Travis Kavulla and I were still serving on the PSC, we often made the point that protected utility monopolies like NorthWestern Energy were dedicated to "privatizing their profits by socializing their risks." Profit -- based on efficiency, performance and hard work -- is a very good thing, that incentivizes every competitive and free enterprise. But "profit" based on risk avoidance, protectionism and gaming the government system is the opposite of free market economics, and like socialism in general, rewards failure and punishes the consumer.

HB 99, currently before House Energy, Techn...