Unraveling The Ownership Web: Who's In Control Of Us Electric Utilities?

The electric utility industry is one of the most important sectors in the United States, responsible for delivering electricity to homes and businesses across the country. In 2017, almost 3,000 electric distribution companies were operating in the United States. These companies are owned by shareholders or run by government entities, political subdivisions, or cooperatives.

Investor-owned utilities are large electric distributors that issue stock owned by shareholders

In the United States, almost 3,000 electric distribution companies or utilities were operating in 2017. EIA (U.S. Energy Information Administration) classifies utilities into three ownership types: investor-owned utilities, publicly run or managed utilities, and cooperatives. Investor-owned utilities are large electric distributors that issue stock owned by shareholders. Almost three-quarters of utility customers get their electricity from these companies. IOUs are most prevalent in heavily populated areas on the East and West coasts.

The two largest IOUs are in California: Pacific Gas and Electric, with 5.48 million customers, and Southern California Edison Company, with 5.07 million customers.

Entergy owns and operates one of the cleanest large-scale U.S. power-generating fleets including more than five gigawatts of carbon-free nuclear capacity, a fleet of highly efficient gas resources, and a fast-growing portfolio of renewable resources.

Calpine Corp is a large generator of electricity from natural gas and geothermal resources. Their fleet of 76 power plants in operation or under construction represents more than 26,000 megawatts of generation capacity — enough to power approximately 20 million homes. Through wholesale power operations and retail businesses Calpine Energy Solutions and Champion Energy, they serve customers in 22 states, Canada and Mexico.

Entergy owns and operates one of the cleanest large-scale U.S. power-generating fleets

Entergy is one of the largest U.S. electric utility companies and is part of the Fortune 500. Entergy's fleet of power plants includes more than five gigawatts of carbon-free nuclear capacity, a fleet of highly efficient gas resources, and a fast-growing portfolio of renewable resources.

Entergy's fleet of power plants includes more than five gigawatts of carbon-free nuclear capacity, a fleet of highly efficient gas resources, and a fast-growing portfolio of renewable resources.

Entergy's fleet of power plants includes more than five gigawatts of carbon-free nuclear capacity, a fleet of highly efficient gas resources, and a fast-growing portfolio of renewable resources.

Entergy's fleet of power plants includes more than five gigawatts of carbon-free nuclear capacity, a fleet of highly efficient gas resources, and a fast-growing portfolio of renewable resources.

Pacific Gas and Electric and Southern California Edison Company are the two largest IOUs in California

Pacific Gas and Electric (PG&E) and Southern California Edison Company are the two largest investor-owned utilities (IOUs) in California. Overseen by the California Public Utilities Commission, PG&E is the leading subsidiary of the holding company PG&E Corporation, which has a market capitalization of $34.9 billion as of March 10, 2025. PG&E was established on October 10, 1905, from the merger and consolidation of predecessor utility companies, and by 1984 was the United States' "largest electric utility business". PG&E is one of six regulated, investor-owned electric utilities (IOUs) in California; the other five are PacifiCorp, Southern California Edison, San Diego Gas & Electric, Bear Valley Electric, and Liberty Utilities.

Edison International (NYSE: EIX) company, Southern California Edison is one of the nation’s largest electric utilities, serving a population of approximately 15 million via 5 million customer accounts in a 50,000-square-mile service area within Central, Coastal and Southern California. Pacific Gas and Electric Company, a subsidiary of PG&E Corporation (NYSE: PCG), is a combined natural gas and electric utility serving more than 16 million people across 70,000 square miles in Northern and Central California.

In 2018 and 2019, PG&E received widespread media notoriety when investigations by the California Department of Forestry and Fire Protection (Cal Fire) found the company's infrastructure primarily responsible for causing two separate devastating wildfires in California, including the 2018 Camp Fire, the deadliest wildfire in California history. Edison’s equipment has also been found to be the cause of other fires, including the 2007 Malibu Canyon Fire, Liberty Fire, Meyers Fire, Rye Fire, Easy Fire, Bobcat Fire, Silverado Fire, Coastal Fire, the Fairview Fire, and possibly also the Hurst Fire.

In 2017, 168 IOUs served an average of 654,600 electric customers. The two largest IOUs are in California: Pacific Gas and Electric, with 5.48 million customers, and Southern California Edison Company, with 5.07 million customers. Publicly owned utilities, or POUs, include federal-, state-, and municipal-run utilities. In addition to government entities, political subdivisions may run POUs, also called public utility districts—utilities that residents vote into existence that operate independently of city or country government. The United States has 1,958 POUs with an average of 12,100 electricity customers each. The largest POUs are the state-run Puerto Rico Electric Power Authority (PREPA), with 1.47 million customers, and the Los Angeles Department of Water and Power, a municipal utility with 1.43 million customers.

Calpine Corp is a large generator of electricity from natural gas and geothermal resources

The electric utility industry is one of the most important sectors in the United States. It is responsible for delivering electricity to homes and businesses across the country. The fact that all ten of the largest electric utility companies are part of the Fortune 500 is a testament to the size and importance of this industry.

Almost 3,000 electric distribution companies—or utilities—were operating in the United States in 2017. EIA classifies utilities into three ownership types: investor-owned utilities, publicly run or managed utilities, and cooperatives. Investor-owned utilities, or IOUs, are large electric distributors that issue stock owned by shareholders. Almost three-quarters of utility customers get their electricity from these companies. IOUs are most prevalent in heavily populated areas on the East and West coasts.

The two largest IOUs are in California: Pacific Gas and Electric, with 5.48 million customers, and Southern California Edison Company, with 5.07 million customers. Publicly owned utilities, or POUs, include federal-, state-, and municipal-run utilities. In addition to government entities, political subdivisions may run POUs, also called public utility districts—utilities that residents vote into existence that operate independently of city or country government. The United States has 1,958 POUs with an average of 12,100 electricity customers each. The largest POUs are the state-run Puerto Rico Electric Power Authority (PREPA), with 1.47 million customers, and the Los Angeles Department of Water and Power, a municipal utility with 1.43 million customers.

Publicly owned utilities include federal-, state-, and municipal-run utilities

In 2017, EIA classified utilities into three ownership types: investor-owned utilities, publicly run or managed utilities, and cooperatives. Although there are fewer investor-owned utilities than the other two types of utilities, they tend to be very large. Investor-owned utilities, or IOUs, are large electric distributors that issue stock owned by shareholders. Almost three-quarters of utility customers get their electricity from these companies. IOUs are most prevalent in heavily populated areas on the East and West coasts.

The two largest IOUs are in California: Pacific Gas and Electric, with 5.48 million customers, and Southern California Edison Company, with 5.07 million customers.

In the United States, numerous companies have emerged as leaders in providing electricity services to millions of consumers nationwide. Below are the 10 largest U.S. electric utility companies:

• Calpine Corp is a large generator of electricity from natural gas and geothermal resources. Their fleet of 76 power plants in operation or under construction represents more than 26,000 megawatts of generation capacity — enough to power approximately 20 million homes. Through wholesale power operations and retail businesses Calpine Energy Solutions and Champion Energy, they serve customers in 22 states, Canada and Mexico.
• Entergy owns and operates one of the cleanest large-scale U.S. power-generating fleets including more than five gigawatts of carbon-free nuclear capacity, a fleet of highly efficient gas resources, and a fast-growing portfolio of renewable resources.

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