You look at other states or other countries where the regulations have been configured to work, and model on that.
The most important part is the network infrastructure (power lines, transformers, substations) is a natural monopoly so it needs to be owned by the state. Regulation and incentives keep failing when corporate ownership of the network infrastructure is tried. In New Zealand the national grid https://wikipedia.org/wiki/Transpower_New_Zealand is a “state owned enterprise”, while local low voltage networks and power metering is owned by each local government.
The idea is to use corporate (profit motivated) ownership for generators and retail metered billing to end consumers, but design the market to be competitive for multiple generation companies (don’t allow one generator to have a monopoly in any area) and for consumer choice of who bills them.
https://wikipedia.org/wiki/New_Zealand_electricity_market has a good high-level overview of how everything is configured, and also refers to some of the failures of the regulations. It refers to a disputed study that consumers are overpaying by ~33%, so in theory bills could be reduced with nationalisation. . . although I personally would expect a government department to be more than 33% inefficient, so I don’t think electricity consumers win either way.
The most important part is the network infrastructure (power lines, transformers, substations) is a natural monopoly so it needs to be owned by the state. Regulation and incentives keep failing when corporate ownership of the network infrastructure is tried. In New Zealand the national grid https://wikipedia.org/wiki/Transpower_New_Zealand is a “state owned enterprise”, while local low voltage networks and power metering is owned by each local government.
The idea is to use corporate (profit motivated) ownership for generators and retail metered billing to end consumers, but design the market to be competitive for multiple generation companies (don’t allow one generator to have a monopoly in any area) and for consumer choice of who bills them.
https://wikipedia.org/wiki/New_Zealand_electricity_market has a good high-level overview of how everything is configured, and also refers to some of the failures of the regulations. It refers to a disputed study that consumers are overpaying by ~33%, so in theory bills could be reduced with nationalisation. . . although I personally would expect a government department to be more than 33% inefficient, so I don’t think electricity consumers win either way.