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So the question is: Do you want the government to manage that, or do you want the market to manage that? And I will point out some very clear examples where
government has failed to manage competitive markets. One need only look at the Public Utility Regulatory Policies Act, which was written by Congress in the '70s
and was implemented by the states, where government was going to decide what the avoided cost of electricity was to incent co-generation, and to this day, we
are still having to buy our way out of above-market contracts in that regard. (Ralph Izzo).
Take a look at what California did in the late '90s and the early turn of the century to buy long-term power supplies so they would have a stable low-cost supply of
energy for customers, and they ended up paying way above-market rates. (Ralph Izzo).
Take a look at what we did in New Jersey, where we had standard offer prices for energy efficiency that ended up being unmanageable because you couldn't
really judge whether or not they were achieving the efficiency that government said they were going to achieve and set a price for them. We had to buy our way
out of those contracts. (Ralph Izzo).
Take a look at what is happening in Spain and in Germany, where they had feed-in tariffs where government has set the price for renewables and now has to shut that off because they had too many people bidding in at way above what renewables needed to cost as the price for solar panels came down. (Ralph Izzo).

Bibliography - Introduction to Regulation - original link - http://ipu.msu.edu/research/pdfs/IPU Bib on Regulation.pdf permanent link - http://www.EnergyCollection.us/Energy-Regulators/Bibliography-Introduction-Regulation.pdf
Bipartisan Policy Center - Without question, our economy—in fact our way of life—is highly dependent on access to stable, affordable supplies of energy. We must unify as a nation in a bipartisan manner around a new era in energy security. The BPC Energy Project supports a fundamental reassessment of America’s energy policy goals, decision-making structures, and policies to place energy security at the very center of energy policy. Energy Project Initiatives: American Energy Innovation Council Energy & Environment Initiative Energy Innovation Initiative Energy Security Initiative. Company website - http://www.bipartisanpolicy.org/projects/energy-project/about