alt Hacker NewsI get it when there's an obvious natural monopoly, and an alternative is just infeasible to build.
I don't think it applies to electricity in many cases. If there are investors in building new electrical capacity, then it likely means that the area is underserved, and the prices are naturally higher. The government apparently did not build what the market is ready to pay a premium for.
The original Edison's electric company was private, and for-profit. It started selling electricity in 1882. I wonder how soon would a government-owned company manage instead.
That doesn't follow though.
If I am not mistaken, government gives tax breaks or subsidies to induce private firms to enter the market and build capacity.
The only reason investors are building capacity today, is because the demand for data centers is projected to go up.
What happened at the start of electricity, is different from what happened when it was to scale. The nature of the good decides what the most efficient form of production is advisable.