this should be regulated. For example, electricity/utility companies cannot just abruptly close your account, without giving massive notice in advance, and justified reason (such as non-payment).

The internet has become utilities, and it's not just the pipe, but the monopoly applications on it such as email, etc. Being deplatformed unjustly has as bad an effect as being disconnected from the grid and utilities. This means the gov't needs to make sure this can only happen under regulated ways, and not at the whims of the company.