A company which the government has granted exclusive rights to offer a particular service in a specific region. In return, the company agrees to have its policies and prices regulated.
A regulated monopoly is a monopoly that exist because it just make sense. For example, hydro, it doesn't make sense to have companies competing against each other, laying out a different pipe line to get water into your homes for each company...
They're regulated to prevent them from over charging consumers...
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