Turning up the heat in electricity markets as liberalisation lands in Europe

Competition is surely coming to electricity markets and established utilities must not only adapt themselves to change but also persuade regulators to slow down its pace while they do so. Can these large, complacent companies perform such a difficult balancing act? The need for restructuring is clear, but for managers this will require a keen sense of which advantages to protect and which to abandon Keith Leslie, David Kausman, and Gustav Bard McKinsey & Co.