This concludes this examination of the effects of multilateral rivalry on the regulation of utility industries. Three themes run throughout this book. First, there is a new rivalry in infrastructure. Traditional utility service providers, both state-owned and privately-owned, for decades have been locked into outdated service arrangements. These service arrangements might have been appropriate at the beginning of the 20th century, but they clearly do not match the economics of the 2lst century. Technologies, customer needs, and business practices have all changed so much, that there is little that a manager, who managed at the time traditional service territories and markets were established, would recognize today. Now that government policies are catching up to the new economics, new industries are emerging. Firms are merging, divesting, changing markets, and remaking themselves to be part of the new industries. New firms are emerging. The result is a new rivalry that is different from the one we assume in our traditional economic models.