[Ranking] TOP 25 Electric Utilities / Utilities Companies Q3/2023
Intro
Electric Utilities is a crucial sub-industry within the Utilities sector, playing a vital role in powering the global economy. It encompasses companies involved in the generation, transmission, and distribution of electricity, ensuring a reliable and continuous supply of this essential resource.
The influence of the Electric Utilities industry extends far beyond the power sector itself. It forms the backbone of modern infrastructure, supporting industries such as manufacturing, transportation, telecommunications, and healthcare. Any disruption or innovation within the industry has a ripple effect across diverse sectors, impacting the daily lives of individuals and the competitiveness of businesses.
With the increasing demand for electricity worldwide, the Electric Utilities industry has witnessed tremendous growth in recent years. As economies expand and populations grow, the need for reliable and sustainable power sources becomes even more crucial. This has resulted in a significant increase in investment and innovation within the industry, driving its upward trajectory.
Various trends, breakthroughs, and obstacles are currently shaping the Electric Utilities industry. The transition towards renewable energy sources, such as solar and wind power, has gained significant momentum. Advancements in technology, smart grids, and energy storage solutions are transforming the way electricity is generated, transmitted, and consumed. However, the industry also faces challenges, including aging infrastructure, regulatory complexities, and the need for continued investment in grid modernization.
The landscape of the Electric Utilities industry is constantly evolving. Rapid advancements in technology, changing consumer preferences, and environmental concerns are driving the transformation of the industry. These dynamics set the context for exploring the top companies within the Electric Utilities sub-industry, as they navigate through these changes and strive to meet the growing demand for clean, reliable, and affordable electricity.
Ranking
#25 Alliant Energy Corporation
Employees: 4.1K
Revenue: 3B$
Website: https://www.alliantenergy.com
Description: Alliant Energy Corporation is a leading electric utility company operating in the Electric Utilities industry. Founded in 1917, the company is headquartered in Madison, United States. With approximately 4.1 thousand employees, Alliant Energy provides reliable and affordable electric services to customers in the North American region. The company generates, transmits, and distributes electricity through its extensive infrastructure and power plants. Alliant Energy focuses on delivering sustainable energy solutions and has made significant investments in renewable energy sources like wind and solar power. With a revenue of 3 billion USD, Alliant Energy continues to play a crucial role in the Utilities industry, contributing to the reliable and efficient supply of electricity to communities and businesses.
#24 Pinnacle West Capital Corporation
Employees: 6K
Revenue: 4.5B$
Website: https://www.pinnaclewest.com
Description: Pinnacle West Capital Corporation is a leading electric utility company based in Phoenix, United States. Established in 1985, the company operates in the Electric Utilities industry and is focused on providing reliable electricity services to its customers. With a workforce of approximately 6,000 employees, Pinnacle West Capital Corporation is committed to delivering high-quality power generation, transmission, and distribution services to meet the energy needs of the communities it serves. The company has achieved significant growth over the years and currently generates an annual revenue of around 4.5 billion US dollars. Pinnacle West Capital Corporation continues to invest in innovative technologies and sustainable practices to ensure a resilient and efficient electric grid for its customers.
#23 CMS Energy Corporation
Employees: 8K
Revenue: 6B$
Website: https://www.cmsenergy.com
Description: CMS Energy Corporation, based in Jackson, Michigan, is a leading electric utility company operating in the Electric Utilities industry. Founded in 1987, CMS Energy serves customers in Michigan and is dedicated to providing reliable and affordable energy solutions to homes and businesses. With a workforce of approximately 8,000 employees, CMS Energy is committed to delivering safe, clean, and sustainable energy to its customers. The company generates and distributes electricity through its subsidiary, Consumers Energy, which is one of the largest electric and gas utility companies in the United States. CMS Energy aims to contribute to the development of a sustainable energy future by investing in renewable energy sources and implementing energy efficiency programs.
#22 NiSource Inc.
Employees: 8K
Revenue: 8B$
Website: https://www.nisource.com
Description: NiSource Inc. is a leading electric utilities company based in Merrillville, United States. Founded in 1912, the company operates in the Electric Utilities industry. With a workforce of approximately 8,000 employees, NiSource Inc. is dedicated to providing safe, reliable, and affordable energy solutions to its customers. The company generates revenue of around 8 billion dollars annually. NiSource Inc. focuses on delivering electricity to residential, commercial, and industrial customers across its service areas. Through its subsidiaries, including Columbia Gas and NIPSCO, NiSource Inc. ensures the efficient transmission and distribution of electricity, helping to power homes and businesses in North America.
#21 PPL Corporation
Employees: 12K
Revenue: 9.1B$
Website: https://www.pplweb.com
Description: PPL Corporation, headquartered in Allentown, United States, is a leading player in the Electric Utilities industry. Founded in 1920, the company operates in North America and serves millions of customers with electricity. With a workforce of approximately 12,000 employees, PPL Corporation generates a substantial revenue of 9.1 billion dollars. The company focuses on providing reliable and affordable electricity to residential, commercial, and industrial customers, ensuring the smooth functioning of essential services. PPL Corporation consistently invests in modernizing its infrastructure, promoting renewable energy sources, and enhancing grid reliability to meet the evolving energy needs of its customers.
#20 Eversource Energy
Employees: 9.5K
Revenue: 9.2B$
Website: https://www.eversource.com
Description: Eversource Energy is a leading electric utility company headquartered in Hartford, United States. Founded in 1966, the company operates in the Electric Utilities industry. With a workforce of approximately 9,500 employees, Eversource Energy is dedicated to providing reliable electric power to millions of customers across North America. The company generates, transmits, and distributes electricity using a diverse mix of energy sources, including nuclear, natural gas, and renewables. Eversource Energy focuses on delivering sustainable energy solutions and has made significant investments in clean energy projects. With an annual revenue of 9.2 billion dollars, the company plays a crucial role in powering homes, businesses, and communities in the region.
#19 Public Service Enterprise Group Inc.
Employees: 11K
Revenue: 9.5B$
Website: https://www.pseg.com
Description: Public Service Enterprise Group Inc. is a leading electric utility company based in Newark, United States. Founded in 1903, the company operates in the Electric Utilities industry. With approximately 11,000 employees, Public Service Enterprise Group provides reliable energy services to millions of customers in New Jersey and surrounding areas. The company generates, transmits, and distributes electricity, serving both residential and commercial customers. Public Service Enterprise Group is committed to sustainable practices and invests in renewable energy sources to reduce its environmental impact. With annual revenues of 9.5 billion dollars, the company continues to innovate and ensure the efficient delivery of electricity to its customers.
#18 FirstEnergy Corp.
Employees: 14K
Revenue: 10B$
Website: https://www.firstenergycorp.com
Description: FirstEnergy Corp. is a leading electric utility company headquartered in Akron, Ohio, United States. With a history dating back to 1997, the company operates in the Electric Utilities industry, providing electricity generation, transmission, and distribution services across North America. FirstEnergy Corp. serves millions of residential, commercial, and industrial customers, delivering reliable and affordable energy solutions. With a workforce of approximately 14,000 employees, the company is committed to powering the future by embracing innovative technologies and sustainable practices. FirstEnergy Corp. generates an annual revenue of around 10 billion dollars, contributing significantly to the growth and development of the Utilities industry.
#17 Entergy Corporation
Employees: 13K
Revenue: 11B$
Website: https://www.entergy.com
Description: Entergy Corporation is a leading electric utilities company based in New Orleans, United States. Founded in 1949, Entergy operates in the Utilities industry, specifically in the Electric Utilities sector. With a workforce of approximately 13,000 employees, Entergy provides reliable and affordable electricity to millions of customers across North America. The company generates, transmits, distributes, and sells electric power to residential, commercial, industrial, and governmental customers in various states including Arkansas, Louisiana, Mississippi, and Texas. Entergy is committed to delivering safe, clean, and sustainable energy solutions while contributing to the economic growth and development of the communities it serves. With annual revenue of around 11 billion dollars, Entergy continues to be a major player in the electric utilities industry.
#16 Evergy, Inc.
Employees: 5.4K
Revenue: 11B$
Website: https://www.evergy.com
Description: Evergy, Inc. is a leading electric utility company based in Kansas City, United States. With a history dating back to 1882, the company has established itself as a key player in the electric utilities industry. Evergy serves over 1.6 million customers in Kansas and Missouri, providing reliable and affordable electricity. The company is committed to promoting sustainability and renewable energy, with a focus on reducing its carbon footprint. Through its extensive network of power plants, transmission lines, and distribution systems, Evergy ensures the efficient delivery of electricity to residential, commercial, and industrial customers. With a workforce of 5.4 thousand employees, Evergy continues to innovate and invest in the future of energy generation and distribution.
#15 Xcel Energy Inc.
Employees: 11K
Revenue: 11.5B$
Website: https://www.xcelenergy.com
Description: Xcel Energy Inc. is a leading electric utility company headquartered in Minneapolis, United States. With a history dating back to 1909, the company has established itself as a prominent player in the electric utilities industry. Xcel Energy operates in North America and serves millions of customers across several states. The company is committed to providing reliable and sustainable energy solutions to its customers, while also focusing on environmental stewardship and community engagement. With a workforce of approximately 11,000 employees, Xcel Energy generates an annual revenue of 11.5 billion US dollars. Through its comprehensive range of services, Xcel Energy plays a crucial role in powering communities and driving economic growth in the region.
#14 CenterPoint Energy, Inc.
Employees: 9.5K
Revenue: 11.7B$
Website: https://www.centerpointenergy.com
Description: CenterPoint Energy, Inc. is an electric utility company headquartered in Houston, United States. Founded in 1882, the company operates in the Electric Utilities industry. With approximately 9.5 thousand employees, CenterPoint Energy focuses on the generation, transmission, and distribution of electricity to residential, commercial, and industrial customers in several states across the United States. The company is committed to providing reliable and affordable energy services to its customers. CenterPoint Energy has a strong presence in the industry and continues to invest in modernizing its infrastructure to meet the growing energy needs of its customers.
#13 AES Corporation
Employees: 10K
Revenue: 12B$
Website: https://www.aes.com
Description: AES Corporation, headquartered in Arlington, United States, is a leading player in the Electric Utilities industry. Founded in 1981, the company operates globally and is known for its expertise in providing sustainable energy solutions. With approximately 10,000 employees, AES Corporation is committed to delivering reliable and affordable electricity to its customers. The company's impressive revenue of 12 billion dollars reflects its strong market presence and successful operations. AES Corporation continues to innovate and invest in clean energy technologies, driving the transformation of the electric utilities sector towards a more sustainable future.
#12 DTE Energy Company
Employees: 10K
Revenue: 12B$
Website: https://www.dteenergy.com
Description: DTE Energy Company is a leading electric utility company operating in the Electric Utilities industry. Headquartered in Detroit, United States, the company was founded in 1849. With a workforce of approximately 10,000 employees, DTE Energy serves millions of customers across various states in North America. The company generates, transmits, and distributes electricity, providing reliable power supply to residential, commercial, and industrial customers. DTE Energy is committed to renewable energy sources and has made significant investments in wind and solar power generation. Additionally, the company offers energy efficiency programs and services to help customers reduce their energy consumption and lower their carbon footprint. With annual revenues of around 12 billion dollars, DTE Energy continues to play a crucial role in the electric utilities industry, contributing to the sustainable development and growth of the communities it serves.
#11 Consolidated Edison, Inc.
Employees: 14K
Revenue: 13B$
Website: https://www.coned.com
Description: Consolidated Edison, Inc. is a leading electric utility company operating in the Electric Utilities industry. Headquartered in New York City, United States, the company has a rich history dating back to its founding in 1823. With approximately 14,000 employees, Consolidated Edison serves millions of customers in the North America region. The company generates annual revenue of around 13 billion dollars, making it a key player in the electric utilities sector. Consolidated Edison is committed to providing reliable and sustainable energy solutions to its customers, contributing to the development of the overall utilities industry.
#10 Edison International
Employees: 12K
Revenue: 14B$
Website: https://www.edison.com
Description: Edison International is a leading player in the Electric Utilities industry. Headquartered in Rosemead, United States, the company operates primarily in North America. With a history dating back to 1886, Edison International has established itself as a prominent player in the industry. With a workforce of approximately 12,000 employees, the company is actively involved in the generation, transmission, and distribution of electricity to residential, commercial, and industrial customers. Edison International is dedicated to providing reliable and affordable electric services, while also embracing renewable energy sources and promoting sustainability. With annual revenues of around 14 billion dollars, the company continues to make significant contributions to the electric utilities sector.
#9 American Electric Power Company, Inc.
Employees: 17K
Revenue: 16.2B$
Website: https://www.aep.com
Description: American Electric Power Company, Inc. (AEP) is a leading electric utility company headquartered in Columbus, Ohio. With a history dating back to 1906, AEP is one of the largest electric utilities in the United States. The company operates in the Electric Utilities industry and provides electricity generation, transmission, and distribution services to millions of customers across 11 states. AEP owns and operates a diverse portfolio of power plants, including coal, natural gas, and renewable energy facilities. The company is committed to transitioning to a cleaner energy future and has set ambitious goals to reduce carbon emissions. AEP's revenue in 2020 reached 16.2 billion dollars, with approximately 17,000 employees contributing to the company's success.
#8 Dominion Energy, Inc.
Employees: 21.5K
Revenue: 16.7B$
Website: https://www.dominionenergy.com
Description: Dominion Energy, Inc. is an electric utility company headquartered in Richmond, United States. Founded in 1983, the company operates in the Electric Utilities industry. With approximately 21,500 employees, Dominion Energy is one of the leading players in the industry. The company generates a revenue of 16.7 billion US dollars. Dominion Energy focuses on providing electricity services to customers in North America, with a strong presence in the United States. Through its subsidiaries, the company engages in the generation, transmission, and distribution of electric power, serving millions of customers in multiple states. Dominion Energy is committed to delivering reliable and sustainable energy solutions to meet the evolving needs of its customers and contribute to the development of the electric utilities sector.
#7 NextEra Energy, Inc.
Employees: 14K
Revenue: 17B$
Website: https://www.nexteraenergy.com
Description: NextEra Energy, Inc. is a leading electric utility company based in Juno Beach, Florida. With its headquarters in North America, NextEra Energy operates in the Electric Utilities industry. The company was founded in 1925 and currently employs approximately 14,000 people. NextEra Energy generates revenue of around 17 billion dollars. As one of the largest electric power companies in the United States, NextEra Energy is committed to providing clean, reliable, and affordable energy solutions to its customers. The company focuses on renewable energy generation, including wind and solar power, as well as investing in infrastructure to enhance the grid and ensure a sustainable energy future.
#6 Pacific Gas And Electric Company
Employees: 23K
Revenue: 17B$
Website: https://www.pge.com
Description: Pacific Gas and Electric Company (PG&E) is a leading electric utility company headquartered in San Francisco, United States. Since its founding in 1905, PG&E has been providing electricity and natural gas to millions of customers in Northern and Central California. With approximately 23,000 employees, the company operates in the Electric Utilities industry. PG&E is committed to delivering safe, reliable, and affordable energy services to its customers, while also focusing on renewable energy and sustainability initiatives. The company's revenue reached 17 billion dollars in the most recent fiscal year, making it a significant player in the utilities sector.
#5 WEC Energy Group, Inc.
Employees: 7.8K
Revenue: 17.3B$
Website: https://www.wecenergygroup.com
Description: WEC Energy Group, Inc. is a leading electric utility company based in Milwaukee, United States. With a rich history dating back to 1896, the company has established itself as a prominent player in the electric utilities industry. WEC Energy Group serves over 4.5 million customers across its service territory, providing reliable and affordable energy solutions. The company operates a diverse portfolio of power generation facilities, including coal, natural gas, and renewable energy sources. WEC Energy Group is committed to sustainable practices and has made significant investments in renewable energy projects. With a workforce of approximately 7.8 thousand employees and annual revenue of 17.3 billion dollars, WEC Energy Group continues to drive innovation and deliver value to its customers and shareholders.
#4 Southern Company
Employees: 27K
Revenue: 23B$
Website: https://www.southerncompany.com
Description: Southern Company is a leading electric utilities company headquartered in Atlanta, United States. With a history dating back to 1945, the company has established itself as a prominent player in the electric utilities industry. Southern Company operates a diverse portfolio of power generation assets, including coal, natural gas, nuclear, and renewable energy facilities. The company serves millions of customers across multiple states, providing reliable and affordable electricity. Southern Company is committed to sustainability and has made significant investments in clean energy technologies. Through its subsidiaries, the company also offers energy-related services such as energy efficiency programs and electric vehicle charging infrastructure.
#3 Duke Energy Corporation
Employees: 29K
Revenue: 24.1B$
Website: https://www.duke-energy.com
Description: Duke Energy Corporation, headquartered in Charlotte, United States, is a leading company in the Electric Utilities industry. Founded in 1904, the company has a workforce of approximately 29,000 employees. With a revenue of 24.1 billion dollars, Duke Energy operates in North America and provides electric power to both residential and commercial customers. The company specializes in the generation, transmission, and distribution of electricity, as well as energy management services. Duke Energy is committed to delivering reliable and sustainable energy solutions to meet the growing demands of the communities it serves.
#2 Exelon Corporation
Employees: 33K
Revenue: 34B$
Website: https://www.exeloncorp.com
Description: Exelon Corporation is a leading electric utility company based in Chicago, United States. Founded in 2000, the company operates in the Electric Utilities industry. With a workforce of approximately 33,000 employees, Exelon generates annual revenue of around 34 billion dollars. As a major player in the industry, Exelon is involved in the generation, transmission, and distribution of electricity to millions of customers in multiple states. The company's subsidiaries include well-known utilities such as ComEd, PECO, and Constellation. Exelon is committed to providing reliable and sustainable energy solutions, while also focusing on innovation and environmental stewardship.
#1 Avangrid, Inc.
Employees: 7.5K
Revenue: 34B$
Website: https://www.avangrid.com
Description: Avangrid, Inc. is a leading electric utility company operating in the Electric Utilities industry. With its headquarters located in Orange, CT, United States, Avangrid serves customers across North America. The company was founded in 1852 and has a workforce of approximately 7,500 employees. Avangrid generates significant revenue, amounting to 34 billion dollars. As a prominent player in the industry, Avangrid focuses on providing reliable and sustainable electric utility services to its customers, contributing to the continuous development of the electric utilities sector.
Summary
The electric utilities sub-industry is a crucial sector within the larger utilities industry, providing electricity to residential, commercial, and industrial consumers. In recent years, this sub-industry has witnessed significant growth and innovation, with several companies emerging as industry leaders.
One outstanding finding is the rapid adoption of renewable energy sources by the top companies in the electric utilities sub-industry. These companies have invested heavily in renewable energy projects, such as wind and solar power, to reduce their carbon footprint and meet the increasing demand for sustainable energy.
Among the premier companies in the electric utilities sub-industry, we find giants like Exelon Corporation, NextEra Energy, and Duke Energy. These companies have established themselves as leaders in the sector through their extensive infrastructure, diverse energy portfolios, and commitment to innovation.
Shared elements driving the prosperity of these leading firms include a focus on customer satisfaction, investment in infrastructure upgrades, and strategic partnerships. These companies prioritize providing reliable and affordable electricity to their customers, while also exploring new technologies and solutions to improve efficiency and grid resilience.
What sets these eminent companies apart from their industry rivals is their ability to adapt to changing market dynamics and regulatory environments. They have successfully navigated the transition towards cleaner energy sources, while also addressing challenges such as aging infrastructure and grid modernization. Their commitment to sustainability and resilience has positioned them as trusted and forward-thinking partners in the electric utilities industry.