Electricity should be privatized because that would likely mean better rates for the general public. This would happen because there would be more companies in the business. When more companies enter a business there is more competition. More competition usually means lower prices. So, privatization of electricity would be very beneficial!
Privatizing anything basically opens the doors for monopolies to form with ease. The last thing we need is one person controlling electricity...something we need to sustain life (kinda). Although government regulated energy is equally as detrimental. It is just the lesser of two evils at this point and it will be irresponsible to change it.