Wiktor Wise
The largest electrical company in the world is a highly contested title, with numerous companies emerging as leaders in providing electricity services to consumers. The largest electric utility company in the world in 2024 was NextEra Energy, headquartered in the United States, with a market value of 156 billion U.S. dollars. However, the largest electric utility in the world by the number of customers served is the State Grid Corporation of China, which serves over one billion customers. Other large electricity companies include American Electric Power, Southern Company, and FSG, which is one of the largest electrical contractors in the US.
| Characteristics | Values |
|---|---|
| Largest electricity company by market capitalization | NextEra Energy |
| Second largest utility company in the U.S. in terms of customer base | NRG Energy |
| Largest privately-owned open shop electrical contractor in the U.S. | MMR |
| Largest electrical construction company in Texas | Walker |
| Largest full-service contractor in the U.S. | Motor City Electric Co. |
| Largest electric utility holding company | Southern Company |
| Largest generator of electricity | Calpine Corp |
| Largest utility company in terms of customer base | Exelon |
| Largest electrical contractor in the U.S. | FSG |
| Largest power plant and renewable energy construction company in the U.S. | MasTec |
| Largest electrical/technology contractor in the U.S. | ArchKey Solutions |
| Largest privately-owned specialty industrial construction business in the U.S. | The Newtron Group |
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What You'll Learn
Largest electricity companies by market cap
The largest electricity companies are typically determined by their market capitalization, or market cap—the value of a publicly listed company calculated by multiplying the share price by the number of outstanding shares. Here is a list of the largest electricity companies by market cap:
- NextEra Energy Inc: Headquartered in the USA, NextEra Energy is the world's leading power producer and one of the largest producers of renewable, wind, and solar energy. As of March 31, 2023, it had a market cap of $153,196 million and reported revenues of $20,956 million for the fiscal year ending in December 2022.
- Siemens AG: With a market cap of $129,427 million as of March 31, 2023, Siemens AG is the second-largest power producer globally.
- Schneider Electric SE: This company had a market cap of $105,021 million as of March 31, 2023, making it the third-largest power producer in the world.
- Iberdrola SA: Iberdrola SA is among the top 5 power producers in the world by market cap as of March 31, 2023.
- Southern Co: Southern Co is another top 5 power producer globally, as of March 31, 2023.
- American Electric Power Co Inc: With a market cap of $46,757 million as of March 31, 2023, American Electric Power Co Inc. is the lowest of the top 10 power producers worldwide.
- Enel: This company had a total net efficient installed capacity of 84.6 GW and 227.8 TWh in 2022.
- EDF (Électricité de France): EDF is a French state-owned electricity generation and electric utility company. In 2022, it had revenues of 143,476 million EUR and 40.3 million customers worldwide.
- Sempra Energy: Headquartered in California, USA, Sempra Energy is an energy infrastructure company focused on connecting people through clean power and energy networks.
- National Grid Transco: This company generated annual revenue of 18,449 million GBP for the period ending in March 2022.
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Top US electric utility companies
The world's largest electric utility company is the State Grid Corporation of China, which serves over a billion customers. However, the top US electric utility companies are also some of the world's largest electricity companies by market capitalization.
NextEra Energy
NextEra Energy is the world's largest electric utility holding company by market capitalization, valued at over $120 billion as of November 2023. It has about 58 GW of generating capacity (24 GW from fossil fuel sources), revenues of over $18 billion in 2020, and about 14,900 employees throughout the US and Canada.
Southern Company
Southern Company is an American gas and electric utility holding company based in the southern US, with headquarters in Atlanta, Georgia, and executive offices in Birmingham, Alabama. It is the second-largest utility company in the US in terms of customer base, serving 9 million gas and electric utility customers in 6 states as of 2021.
American Electric Power (AEP)
AEP is one of the nation's largest generators of electricity, owning nearly 38,000 megawatts of generating capacity in the US. It also owns the country's largest electricity transmission system, a nearly 39,000-mile (63,000 km) network that includes 765-kilovolt ultra-high-voltage transmission lines, more than all other US transmission systems combined.
Calpine Corporation
Calpine Corp is a large generator of electricity from natural gas and geothermal resources, with a fleet of 76 power plants in operation or under construction, representing more than 26,000 megawatts of generation capacity. This is enough to power approximately 20 million homes. Through wholesale power operations and retail businesses, Calpine serves customers in 22 states, Canada, and Mexico.
Entergy
Entergy owns and operates one of the cleanest large-scale US power-generating fleets, including more than five gigawatts of carbon-free nuclear capacity, a fleet of highly efficient gas resources, and a growing portfolio of renewable resources.
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Biggest electrical contractors in the US
Electrical contractors are facing challenges due to rising costs, supply chain issues, and delays in material delivery. Despite these challenges, some of the biggest electrical contractors in the US have achieved significant growth in recent years.
Quanta Services, a Texas-based company, is one of the largest electrical contractors in the US. In 2023, the company achieved one of its largest annual revenue increases, surpassing 20.88 billion dollars. Quanta Services has consistently expanded its market share through acquisitions and by providing electric power infrastructure solutions.
NextEra Energy, a leading electric utility company in the US and worldwide, has also experienced substantial growth. With investments in renewable electricity, NextEra Energy has seen its market value soar, surpassing 80 billion dollars in 2022.
Additionally, the presence of union workforces in large electrical contracting companies is notable, with the IBEW (International Brotherhood of Electrical Workers) representing a significant proportion of electrical workers nationwide.
While specific rankings of the largest electrical contractors in the US are not publicly available, Quanta Services and NextEra Energy stand out as prominent players in the industry, navigating challenges and achieving substantial growth.
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Largest electric companies by customer base
In the United States, there are around 1,600 electric utility companies. The largest electric utility company in the US by market capitalization is NextEra Energy, with a valuation of over $120 billion as of November 2023. NextEra Energy has about 58 GW of generating capacity, revenues of over $18 billion in 2020, and about 14,900 employees throughout the US and Canada.
The second-largest utility company in the US in terms of customer base, as of 2021, is Southern Company, an American gas and electric utility holding company based in the southern US. Through its subsidiaries, it serves 9 million gas and electric utility customers in 6 states.
Exelon is another one of the nation's largest utility companies, serving more than 10 million customers through six fully regulated utilities. Operating across a large urban footprint, Exelon serves major metro areas in Delaware, the District of Columbia, Illinois, Maryland, New Jersey, and Pennsylvania.
Duke Energy is also one of the biggest energy companies in the country, serving 8.2 million customers across the south and central United States.
Pacific Gas & Electric (PG&E) is one of the oldest electric supply companies, serving 5.5 million electric customers on the West Coast.
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Largest electric companies by revenue
The largest electric companies are typically ranked by their market capitalization, which is calculated by multiplying the share price with the number of outstanding shares. Here is a list of the largest electric companies by revenue:
NextEra Energy
NextEra Energy is the largest electric utility company by market capitalization, with a valuation of over $142 billion as of 2025. The company has about 58 GW of generating capacity, with 24 GW from fossil fuel sources. In 2020, it recorded revenues of over $18 billion and had approximately 14,900 employees across the US and Canada. NextEra is focused on innovation and has invested heavily in infrastructure, wind, and solar energy.
Southern Company
The Southern Company is an American gas and electric utility holding company based in Atlanta, Georgia, with offices in Birmingham, Alabama. It is the second-largest utility company in the US in terms of customer base, serving 9 million customers in 6 states as of 2021. Its market capitalization is valued at $90.13 billion as of 2025.
Duke Energy
Duke Energy serves 8.2 million customers across the southern and central United States and is one of the biggest energy companies in the country. The company is committed to eliminating carbon emissions and aims to achieve net-zero by 2050. Its market capitalization is valued at $84.46 billion as of 2025.
American Electric Power (AEP)
AEP is one of the nation's largest generators of electricity, with nearly 38,000 megawatts of generating capacity. It also owns the largest electricity transmission system in the US, spanning almost 39,000 miles. AEP's market capitalization is valued at $51.91 billion as of 2025.
Exelon
Exelon is the leading energy provider in the US, serving more than 10 million customers. The company prioritizes customer satisfaction and modernizing its energy infrastructure. It also promotes clean and affordable energy through initiatives like the Climate Change Investment Initiative.
Other Notable Companies
- Xcel Energy Inc. ($37.93 billion market cap)
- PG&E Corporation ($35.62 billion market cap)
- Consolidated Edison, Inc. ($31.44 billion market cap)
- WEC Energy Group, Inc. ($30.78 billion market cap)
- DTE Energy Company ($24.75 billion market cap)
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Frequently asked questions
NextEra Energy is the largest electric utility company in the world, with a market value of 156 billion U.S. dollars as of 2024.
The State Grid Corporation of China is the largest electric utility company in China and the world's largest electric utility company in terms of the number of customers served, with over one billion customers.
Rosendin Electric is the largest employee-owned electrical contractor in the United States. FSG is also one of the largest electrical contractors in the United States by revenue and nationwide reach.
NextEra Energy is the largest electric utility company in the United States.
American Electric Power (AEP) is one of the largest generators of electricity in the United States, owning nearly 38,000 megawatts of generating capacity.
