I have to pay for trash removal in my town and I have a variety of choices. And while I pay the town for water, many people have wells. And I have my own septic system. So, while electricity is mostly regulated, many other utilities are on a house by house basis.
Humans and absolutes tend to be a pretty bad combo.
It is my experience that no system is good for all things. While some systems trend better than others, they are only good until they are not - and there will always be a 'not'.
Similarly, every 'not' is different. When we get there we're wise to consider it with experience + evidence and a willingness to do what those indicate.
I would prefer an knowledgeable, effective and non-corrupted PSC regulate the utility in a manner that keeps the utility viable, so it can serve customers first and shareholders last.