The privatization of public services is often seen as one of the many forms of "new public management." The introduction of competition alters action by the State in at least two ways: it necessitates (1) a reallocation of political responsibilities and (2) the creation of new types of public authorities in the form of regulators. A comparative analysis of the European electricity sector reveals that behind the diversity of these new regulatory frameworks, converging elements can be observed. However, the emergence of a common "regulatory state" has yet to be confirmed.