Electric Law is the main legislation regulating the activities of electric utilities. Gradually the system of licensed regional monopoly faces various challenges from theoretical, technical, and social-economic dimensions. The new economic regulation is competition-oriented, that is, facilitating the competition among the electric enterprises and reducing obstacles of entry into the electric market for potential competitors. However, in considering of the stability and safety of electric supply and the scale-economy of transmission and distribution system of electricity, it is also necessary to regulate such public utilities in various degrees. The bill of amendments to the Electric Law currently deliberated in the Legislative Yuan reflects these two directions. Nevertheless, there do still exist certain doubts and deficiencies in the current bill from the viewpoint of market structure and behavior. In addition, there are possible conflicts between the industrial administrative body and the Fair Trade Commission when enforcing the law. After the liberalization of electric industry will the Fair Trade Commission definitely play a more proactive role in preventing possible competition restrains or unfair competition. European Union and Germany, like Taiwan, have gradually revised related industrial laws and competition laws. Their experiences of liberalization might be useful references to promoting the regulative innovation of electric utilities in Taiwan.