This book investigates the validity of the natural monopoly theory as applied to the electric utility industry. Walter J. Primeaux, an economist specializing in public utility regulation, challenges the long-held assumption that electric utilities must operate as monopolies to achieve efficiency. He presents empirical evidence to argue that direct competition between electric utilities is not only feasible but can lead to improved performance and lower costs for consumers.

Economists and policy analysts frequently cite this work as a foundational challenge to the traditional regulatory consensus regarding utility monopolies. Readers often note the technical density of the statistical arguments provided throughout the text.