Over the preceding decades, state and federal policymakers invented a host of new devices intended to bring market forces to the electric industry at all points, from generation to consumption. To a large extent, the major goals of wholesale and retail competition are still elusive. This report concludes that there is an urgent need for state policymakers to develop long-term and coordinated plans for the electric industry. However, each state faces unique circumstances that require individualized solutions. This report does not recommend specific solutions, since circumstances will vary a great deal in each state. State policymakers must however work together and with their federal counterparts as the electric industry becomes more regional.