New technologies and new services are announced.
Phone companies start up, merge and split up.
New demands are made for existing services. Behind those daily news events, there is a public telephone network that connects us all and makes those new services feasible. Much of that network is provided by local telephone companies like US West that, despite all the hoopla about competition, remain virtual monopolies. The objective of this regulation is to ensure that rates are fair to customers and fair to the investors who have paid to build the network. The company is entitled to a reasonable profit, but it should not be able to take advantage of customers who have no choice.