market transparency and liquidity becomes essential, and anti-competitive behavior by traders or others must be fought. But that's pretty hard to do against determined cheaters;

Meaning you have to be very, very heavy handed with people who have a lot of money and influence, which is a recipe for corruption and influence disasters in a liberal democracy.

If heavy handed need be, rather be heavy handed with the real task at hand, producing and managing energy.

I'm not a socialist by any mean and I believe than markets work ... most of the time. But for certain things, it doesn't - exhibit A is health care insurance (as opposed to supplying health care itself, where a large private sector can be accomodated as proven by France). IMHO, energy is exhibit B.