Private equity firms like BlackRock and Blackstone are acquiring U.S. electric utilities, raising concerns about monopolistic control and skyrocketing electricity rates. Historical examples, such as California’s 2000–2001 energy crisis, demonstrate how privatization can lead to price gouging, rolling blackouts, and market manipulation for profit. Critics warn that these acquisitions exploit political influence, labor allies, and clean energy groups to advance deals, while leaving consumers with limited recourse and higher costs.