That's not an incentive for monopolies. They'll take your money and not necessarily use it for new infrastructure. Things like increasing employee benefits (gov't social engineering / "god given right"), cost of maintaining outdated technology because "utilities need to be affordable by everyone!", lobbying, good 'ol fashion profit taking, etc. Why pay for better switches when you're not sure about your labor costs in 5 years, or your own retirement portfolio?
Kind of like what electric utilities already do with small growing industries.