Not only do they have a profit motive, they have a 'Guaranteed Rate of Return'; All this at the citizen's expense.

Rate of return issue, and how the current bond market activity and yield curve plays into this, is covered in https://www.thebignewsletter.com/p/how-the-federal-reserve-s...

As interest rates go up, investor owned utilities increase their rate of return on equity ask, pushing up consumer electricity prices. A baseline of consumer electric demand is inelastic, and required for life.