Because it worked so well in California

Just ask Governor Gray Davis.

News & Observer:

Duke Energy is pushing to sell electricity outside its monopoly service area in the Carolinas, a move that would introduce competition and shake up the state's regulated utility model.

. . .

Duke officials are promoting wholesale competition as beneficial.

"Orangeburg will be able to offer customers much more competitively priced power than they have now, so those customers benefit," Sheehan said. "It also sends a strong economic development message to businesses trying to remain competitive or seeking to locate in the region."

Further proof that bad ideas never die; they just hide out until people forget how bad they are (reg. required):

Duke Energy, a power-generating company accused of overcharging customers millions of dollars during California's year-old energy crisis, has secretly offered Gov. Gray Davis a deal that it hopes will solve its legal problems while helping to calm the state's chaotic electricity markets.

The proposed settlement, outlined in documents prepared in March by Duke's lawyers, calls for an end to various state investigations, private lawsuits and state complaints to federal authorities accusing Duke of overcharging.

In return, Duke would make an unspecified "appropriate payment" but admit no wrongdoing.

"Duke is committed to sharing pain" and "expediting high-level confidential discussions that would embrace the governor's political and public relations needs," according to the documents, which were given to The New York Times by someone who wanted the issue aired publicly.

Pass this revision to the Public Utilities codes, and the question is how long till the next NY Times expose on Duke Energy, centering on its operations in the Carolinas? Three years? Five? Ten?