two modern electrical technicians using laptop in substation
This feature looks at the world’s top 10 largest utility companies by market value in US Dollars. Many of these companies are not only involved in power generation but also transmission and distribution. An increasing number of companies are phasing out coal power plants and replacing them with either gas power generation or and renewables. In many parts of the world, these leading traditional utility companies are now active investors and developers in renewable power such as on and offshore wind.
1. Duke Energy
Duke Energy is a 150-year-old utility company based in Charlotte North Carolina. It owns 58,200 MW of base-load and peak generation in the United States, which it distributes to its 7.2 million customers, much of it derived from fossil fuels. At present, it is phasing out its coal power plants and expanding investment a new generation derived from natural gas plus wind and solar. In addition, it meets the natural gas needs of 1.6 million customers in Ohio, Kentucky, Tennessee, and the Carolinas. As of mid-2018, it employed 28,798 people, $23.9 billion in operating revenue, $52 billion market capitalisation, and $133 billion in total assets. Duke Energy operates 32,200 miles of total transmission lines, 268,700 miles of total distribution lines and 32,900 miles of total gas transmission and distribution pipelines.
2. Engie
This French-owned multinational company based in Paris has operations worldwide including interests in renewables and natural gas power generation plus operations in delivering of such energy. EDF operates a diverse portfolio of 120+ GW worldwide. As of year-end 2017, the company has 154,950 employees and €65 billion in revenues. The firm’s market capitalisation was €31.52 billion as of June 2018.
3. National Grid
This British-based multinational company operates in the United Kingdom and North Eastern United States. It owns and operates the national high-voltage electricity transmission network in England and Wales. In addition, it is the owner and operator of the United Kingdom’s gas transmission network. In fact, all natural gas from Britain’s gas fields or imported from abroad has to use the National Grid’s transmission system to reach regional distribution networks. As of June 2018, National Grid has 25,000 employees, $20 billion in revenue and a $37.99 billion market capitalisation.
4. NextEra
This Florida-based American investment company has interests in power generation, transmission, and distribution throughout North America. As of 2018, NextEra had a generating capacity of some 45,900 MW of generating capacity, revenues of over $17 billion, and about 14,000 employees throughout the United States and Canada. This company has a $76 billion market capitalisation as of June 2018.
5. EDF
This partially state-owned energy company based in Paris provides a range of energy services worldwide including power generation, transmission, distribution, energy supply, and energy trading. EDF employs around 155,000 people. Its focus of operations is Europe, plus developing markets including Brazil, China, and Russia. It owns and operates three of the world’s top nuclear power plants by capacity and is the largest producer of low-carbon electricity in Britain. In 2017, EDF had annual revenues of €70 billion and a market capitalisation of €33 billion.
6. Enel
This partially state-owned energy company based in Rome is Italy’s leading utility, but it also has subsidiaries operating in Europe and Latin America providing electricity and gas. 34 countries across 5 continents, generating energy with a managed capacity of over 88 GW and distributing electricity and gas across a network spanning 2,2 million km, with 72 million end users around the world. Enel operates in hydroelectric, thermoelectric, nuclear, geothermal, wind, solar PV and other renewable sources. Almost half of the electricity it produced in 2017 was free of carbon dioxide emissions, making it one of the world’s major producers of clean energy. As of year-end 2017, it has 63,500 employees, €74.64 billion in revenues and in June 2018, a $49.12 billion market capitalisation.
7. Dominion Resources
This American utility based in Richmond Virginia; it is one of the largest producers and transporters of energy in North America. It has a generating capacity of some 25,700 MW, 15,000 miles of natural gas pipeline, and 6,600 miles of electric transmission lines. The company operates one of the United States largest natural gas storage systems with 928 billion cubic feet of storage capacity, serving utility and retail energy customers in 14 states. Dominion has 16,200 employees, about $13 billion in sales and a $42.93 billion market capitalisation.
8. Iberdrola
Iberdrola is a Spanish public multinational electric utility company based in Bilbao, Basque Country. Iberdrola has a workforce of around 31,330 employees in dozens of countries on four continents serving around 31.67 million customers. It has a workforce of some 31,000-employee workforce operating in four continents, serving around 32 million customers. The company had €31 billion in sales as of 2017 and a €42 billion market capitalisation in June 2018.
Southern Company is an American gas and electric utility holding company based in Atlanta, Georgia. The company is the second largest utility company in the U.S., in terms of customer base. It is not only a producer of electricity but is an active trader and distributor of power on the American wholesale power market. It serves nine million customers and has a 46,000 MW generating capacity. The company has 32,000 employees, $23.78 billion in operating revenue as of 2018 and a $45.28 billion market capitalization.
10. Exelon
This American owned company based in Chicago is one of the country’s largest power generators with over 35,500 MW of nuclear, gas, wind, solar and hydroelectric generating capacity. Exelon operates throughout North America; in 2018, it had revenues of $34.48 billion, some 34,000 employees in the U.S., and a $40.38 billion market capitalisation.