Max Lewis (Weekend Sun 4 November) misses the point. If National's Max Bradford had not pushed through privatisation and sale of the electricity industry we would have cheaper electricity today. The theory was that competition and a ‘free-market' would lower prices. History has proven that, in reality, it creates an environment for the growth of monopolies.
Previously the local ‘power boards' were owned by the people and were easily controlled by Government regulation.
China today is one of the wealthiest nations because of strict governmental controls and ownership of key industries, not privatisation and a ‘free-market'!
And further, he misses the main point. The current debate is not about how or why prices have increased out of hand.
Rather, it is whether the profits of the ‘powercos' should be retained and used for the ongoing good of the nation, as a whole, or be lost by paying them to private shareholders.
It is common sense that one does not create an ongoing income by selling the actual business (other than the one-off sale proceeds) but from running it efficiently and profitably. In this instance, any government could easily regulate against excessive price hikes.

G. Allan, Tauranga.