I think that's the idea with deregulated electricity. Where I live (Maryland USA) I can pick who generates my electricity. I have no choice in who delivers it and that is still regulated.

I found that in practice the non-default options do not wind up being any cheaper so after trying it for a few years I switched back to the default option, where the price is not regulated but is set through a prescribed auction process.

I suppose the deregulation might still put downward pressure on prices in theory.

I don’t know why people delete rules on fairness (laws) and then expect things to become more fair.

Electricity transmission at the minimum should be owned wholly by the public to remove profit incentive.

There’s your downward pressure—no incentive to jack up costs.

Until then, providing electricity to people will be a profit generating activity.