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very difficult and expensive to site additional transmission capacity into a major market. Even excluding the US markets, Asian cities are incredibly dense and the trends of migration from rural areas to urban is only going to continue.

I won't deny that.. but i believe that distributed power systems (ala fuel cells, microturbines, and solar) will displace much of the need for very large distribution lines. Power co's will find encouraging distributed power generation less expensive than refrigerating lines to almost absolute zero.
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