The inefficiencies come from infrastructure. Transferring electricity is so goddamn cheap, that city planners and developers hardly consider it a footnote. Water, sewage and drainage on the other hand are much, much more expensive. They require much more space, and oft times need to be pressurized. Imagine that with steam pipes where the steam on top of all that, needs to be heated too. Sure, hooking up to an existing steam main probably doesn't cost too much, but building new mains can't be worth it, even in the long run, as infrastructure constantly needs to be upgraded.
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