Voice over Internet Protocol presents a number of new problems for regulators. As a public utility, it seems to require public-interest regulation that accompanied the rise of other utilities like electricity, telephone, and cable television. 78 However, because the costs of market entry and exit are low, and consumers have access to a wide range of substitute communication technologies, VoIP defies the traditional regulatory calculus. Over the next several years, the voice communications industry will likely be transformed by the availability of cheap, ubiquitous VoIP service. As of this writing, it remains to be seen whether regulators will allow the transition to occur untrammeled or whether substantial regulatory controls will be imposed on the nascent industry.