Can it be real? Utility stocks offer a super combination of high dividends, steady growth, and potential total returns that exceed the cost of capital? All that with captive customers and the government standing by to make sure it all works out that way. Too good to be true? What about risks? Risk in business has two meanings: the possibility of loss (or what might cause that loss) or the possibility that investments do not earn expected returns (or the cause of that underperformance). Utility planning tends to assume continuance of prevailing…