Any time we hear entrenched interests warn that something like "absolute chaos" would ensue if they faced more competition, we're reminded of the fable of the boy and the wolf.

It's easy for a business that has near-monopoly protection to view the prospect of newcomers as a sign of the apocalypse.

That's how taxi operators see House Bill 1114, by Rep. Jerry Frangas, D-Denver, which would end the power of the Public Utilities Commission to limit the number of cab licenses issued statewide. Since only three taxi companies have the legal permission to serve the Denver metro area, a near-monopoly is what we have.

Fortunately, consumers and would-be competitors have some influence, too. So we were delighted to learn that HB 1114 - which would give the marketplace a larger role in deciding how many taxicabs patrol the streets - easily passed its first committee test by a 10-2 vote on Thursday.

HB 1114 could use a tweak or two, but even in its current form this bill would mark a big leap forward.

The bill would repeal the doctrine of "regulated competition," which gives the PUC wide-ranging power to limit taxi licenses. Instead, the bill would let any entrepreneur who could pass a criminal background check, provide proof of insurance, earn safety certification, and pay a fee get a certificate "to operate a motor vehicle for hire as a taxicab."

The "as a taxicab" designation is a novel feature of HB 1114. Currently, companies that operate vehicles for hire are treated like regulated utilities. They're "common carriers" that must serve anyone who calls for service within a perimeter set by the PUC, and their fares are regulated by the commission.

And yet giving a handful of companies exclusive territories has not always delivered quality service.

A series of articles in the Rocky, along with testimony from witnesses at the committee hearing Thursday, revealed story after story of disabled residents, senior citizens and bar patrons who cited times when they waited for hours to get a cab - if one came at all - notwithstanding the PUC's mandate for universal service.

Enter HB 1114. Companies would have a chance to escape the geographic and fare regulation of the PUC and compete with existing "for hire" services. Taxicab certificate holders could set their own fares and cover any territory they chose.

Getting a certificate would cost $10,000 initially and $5,000 a year after that. Each certificate holder could then hire drivers, so long as these employees or independent contractors met safety and insurance standards, too.

The fee structure is probably too severe. Only a few new entrants might be able to meet that financial hurdle. But at least HB 1114 would give new entrants a chance to try. They now lack even that meager opportunity, and too many local residents are stuck waiting for a ride that may never arrive.