Good analysis by Andy Rosen about the reprise role that BGE electricity rates will play in this year's Maryland gubernatorial campaign.The nut:

Still, the real question of whether rates would be lower under a fully-regulated system -- or whether more competition would reduce prices – has never really been answered. Nor have questions over which system would be more likely to help Maryland develop more capacity to meet growing future demand.

There is very persuasive evidence that Maryland rates would have been lower the past four years if the state had never deregulated in 1999. But that's not the same as saying rates would be lower now if the state reregulated. Full reregulation would involve large costs to reacquire generation plants that were deregulated, and those costs would be built into rates. Partial deregulation would involve building new plants and passing the cost to customers.

As to the question of whether more competition would reduce prices: Of course it would. But because of environmental laws, red tape and other barriers to entry for new generation plants, there isn't enough competition.