A world without power
My lesson is slightly different - regulation really does matter.  I know many (myself included) subscribe to a small (ish) government - but infrastructure is one of those areas that has to be regulated.The markets did not correct the situation (jacques gas station is not now the preferred suppliers for all Ontario)
So a simple regulation (you must be designed to keep your service flowing) seems to deal with a huge amount of this - power companies that don't have rolling brown outs get to be in business the next day etc