This. I worked for what in our deregulated market is called a "distribution company" (owning the transmission from the HV lines to the meter at your home), and can absolutely attest to what enslavedrobot has said. The funding model for getting electricity from A to B was predicated on assumptions that you could amortize the high capital costs over multi-decades. Which is all fine until distributed generation (rooftop solar) exploded in a time-frame much smaller than expected. Tbh my personal view is that the writing was on the wall large enough for anyone with eyes willing to see to start planning accordingly, but true to form, most companies just tried resisting the change.