May 9: The virtual monopoly enjoyed by incumbent utilities gave them the ability to build any new electric transmission in their service areas, even if the proposal to build new transmission capacity came from a non-incumbent, third-party company. Incumbent utilities could even exercise their right to build the new electric transmission after the benefits of the independent company’s project had already been demonstrated, leaving the independent company unable to recoup the costs of their proposal.

— Barry Smitherman, writing in Utility Dive