Definition for word: Electric Utility

A corporation, person, agency, authority, or other legal entity that delivers electric energy to the public. Included are investor-owned electric utilities, municipal and State utilities, Federal electric utilities, and rural electric cooperatives.

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An electric utility is a company (often a public utility) that engages in the generation, transmission, and distribution of electricity for sale generally in a regulated market. The electrical utility industry is a major provider of energy in most countries. It is indispensable to factories, commercial establishments, homes, and even most recreational facilities. Lack of electricity causes not only inconvenience, but also economic loss due to reduced industrial production.

Electric utilities include investor owned, publicly owned, cooperatives, and nationalized entities. They may be engaged in all or only some aspects of the industry. Electricity markets are also considered electric utilities--these entities buy and sell electricity, acting as brokers, but usually do not own or operate generation, transmission, or distribution facilities. Utilities are regulated by local and national authorities.

Electric utilities are facing increasing demands according to the fourth annual “Strategic Directions in the Electric Utility Industry Survey” for 2009/2010 from Black & Veatch. Based on input from 329 utility industry participants, maintaining reliable service, regulation and long-term investments were identified as the top-three concerns for electric utilities in 2010.

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