In this article, we discuss the 5 biggest utility companies in the world. If you want to read our detailed analysis of the utility sector, go directly to the 10 Biggest Utility Companies in the World.
5. The Southern Company (NYSE:SO)
Market Cap As of June 17: $69.47B
Based in Atlanta, Georgia, and with executive offices also located in Birmingham, Alabama, Southern Company (NYSE:SO) is an American gas and electricity utility company which primarily supplies utilities to the Southern regions of the United States. With nearly 29,000 employees and nearly 9 million gas and electricity utility customers in over 6 states, Southern Company (NYSE:SO) is the second largest utility company in the United States in terms of customer base.
Southern Company’s (NYSE:SO) subsidiaries operate largely on renewable sources of energy namely solar, wind and biomass facilities located throughout the US, with their first new nuclear units located near Augusta, Georgia. Southern Company’s (NYSE:SO) regulated regional utilities serve an estimated area of nearly 120,000 square miles, with nearly 28,000 miles of distribution lines. In keeping with the transitional changes in the utilities sector, the company has made public its aims and strategy to reach net zero emissions by 2050, completely diminishing its carbon footprints.
4. Duke Energy Corporation (NYSE:DUK)
Market Cap As of June 17: $75.31B
Headquartered in Charlotte, North Carolina, Duke Energy Corporation (NYSE:DUK) is an electric and natural gas utility holding company, which through its subsidiaries, specializes in the development, ownership and operation of multiple generation facilities in the United States. By market cap, it is one of the largest utility companies in the world, with an estimated annual revenue of $21.72 billion in the fiscal year of 2020. The profit-to-equity ratio of Duke (NYSE:DUK) stands at 22.94 with a dividend yield of 3.60%.
The company has over 29,000 employees, and provides utility services to over 7.2 million customers across the country. Their total assets are worth $162.388 billion with their asset portfolio comprising of nearly 58200 megawatts of base-load and peak generation in the United States. Their service territory covers more than 105,000 square miles with 250,200 miles of distribution lines, one of the most expansive in the country. Almost all of Duke Energy Midwest’s (NYSE:DUK) energy is generated from coal, natural gas or oil, while its generation in Carolina is primarily derived from its nuclear power plants.
3. China Yangtze Power (SSE:600900)
Market Cap As of June 17: $79.91B
China Yangtze Power Co Ltd (SSE:600900) is a renewable energy utilities company which offers energy distribution, sales, urban water supply, sewage treatment and recycled water services to the nearly 360 million inhabitants of Central China (Hubei, Hunan, Henan, Jiangxi and Chongqing), East China (Shanghai, Jiangsu, Zhejiang and Anhui) and the Guangdong Province. The company is a component of the SSE 180 Index, with a controlling share held by China Three Gorges Corporation (CTG), a state-owned enterprise under State-Owned Assets Supervision and Administration Commission of the State Council. China Yangtze Power Co. Ltd. (SSE:600900) operates three gorges hydro-power station, namely the Xiangjiaba, Gezhouba, and Xiluodu projects, generating 192kWh power annually.
China Yangtze Power Co Ltd.’s (SSE:600900) business category comprises domestic business, international business, power distribution and selling business and capital operation, including hydropower consultancy services to Germany, Pakistan, Portugal, and Malaysia, to name a few. China Yangtze, NextEra Energy (NYSE:NEE), Reliance Industries Limited (NSE:RELIANCE) and Shell plc (NYSE:SHEL), is facing a huge demand amid rising economic activity.
Headquartered in Beijing, China Yangtze Power (SSE:600900) employs nearly 5000 workers and was able to secure an annual revenue of $8.4 billion in the fiscal year of 2020, which was a 15.9% increase from the previous year. According to Forbes, the company’s total assets are worth more than $51.9 billion and with a profit-to-equity ratio of nearly 19.52, it sells electricity via one of the largest utilities companies in the world by revenue, the State Grid Corporation of China.
2. PJSC Gazprom (MCX:GAZP)
Market Cap As of June 17: $129.23B
Headquartered in the Lakhta Center in Saint Petersburg, Russia, PJSC Gazprom (MCX:GAZP) is a majority state-owned multinational energy corporation, and is the second-largest utility company in the world by market capitalization. It has been ranked as the largest publicly listed natural gas company in the world and the largest company in Russia by revenue, with it securing a 32nd position on the Fortune 2000, which aimed to rank the largest public companies in the world. As of 2020, PJSC Gazprom (MCX:GAZP) has generated a mammoth annual revenue of $87.4 billion with the operating income staying steady below $8.5 billion, causing the company to achieve a dividend yield of 4.24% and a profit-to-equity ratio of 3.34.
1. NextEra Energy, Inc. (NYSE:NEE)
Market Cap As of June 17: $139.11B
Based out of Juno Beach, Florida, NextEra Energy (NYSE:NEE) is the single largest utility holding company in the world by market capitalization. It has a power generation capacity of 58GW, nearly 14900 employees nationwide, and its annual revenues stood at $19.2 billion in the fiscal year of 2019. NextEra (NYSE:NEE), through its subsidiaries, provides utility services to more than 30 million customers across half of Florida. The company ranked 167th on the Fortune 500 in 2018, as one of the largest corporations in the United States by revenue. Florida Power and Light (NYSE:FPL) is one of the largest subsidiaries of NextEra Energy (NYSE:NEE) and provides utility services to nearly 5 million customer accounts across Florida. 41% of the generation capacity of Florida Power and Light (NYSE:FPL) is reserved for fossil fuel generation.
In keeping with the transitional changes overcoming the global utility industry, NextEra Energy (NYSE:NEE) has unveiled strategies to limit carbon emissions, through increased inclinations towards renewable energy sources, namely solar and wind power. The company’s total assets are worth $117.7 billion, with 41% reserved for fossil-fuel generation.
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