What Companies Are in the Public Utilities Field?
Public utilities provide essential services to the public, including electricity, gas, water, telecommunications, and transportation. These companies play a vital role in keeping our society running smoothly. In this article, we will introduce you to some of the biggest companies in the public utility industry, including their history, what they do, and what sets them apart from their competitors.
American Electric Power
American Electric Power (AEP) is one of the largest public utility companies in the United States and a leading electricity provider. Headquartered in Columbus, Ohio, AEP serves more than five million customers in 11 states. AEP employs over 17,000 people and generates over $10 billion in annual revenues.
AEP was founded in 1906 as the American Gas and Electric Company (AG&E). Over the years, the company acquired various smaller utilities and expanded its service territory. In 1952, AEP changed its name to reflect its focus on electric power generation and delivery.
Today, AEP is a Fortune 500 company with a strong commitment to providing safe, reliable, and affordable electricity to its customers. They own and operate a diverse fleet of electric generating plants, including coal-fired, natural gas-fired, nuclear, and hydroelectric facilities. The company is also one of the largest transporters of electricity in the USA.
Pinnacle West Capital Corporation
Pinnacle West Capital Corporation is an Arizona-based holding company that owns and operates electric utility companies. Its subsidiaries include Arizona Public Service Company (APS), the largest electricity provider in Arizona, and Bright Canyon Energy, which builds and operates solar infrastructure in the electric energy industry.
Pinnacle West was founded in 1985 as the Arizona Power Company and later changed its name to Pinnacle West in 1987 to reflect its growing diversification beyond electric utilities. Today, Pinnacle West is an S&P 500 company and publicly traded on the New York Stock Exchange. The current chairman and CEO of the company is Jeffrey B. Guldner. It has over 6,000 employees and produces $3.5 billion in annual revenues (as of 2017).
Duke Energy Corp. is one of the largest natural gas and power holding companies in the United States. Headquartered in Charlotte, North Carolina, Duke Energy serves 7.2 million customers across many states. The company employs over 27,000 people and generates over $21 billion in annual revenue.
Duke Energy was founded in 1904 with a different name. In 1924, the company changed its name to Duke Power and merged with several other energy companies in 1927. It grew steadily through the early 20th century, acquiring various smaller utilities and expanding its service territory. In 1997, CP&L merged with Duke Power to form Duke Energy. Currently, Duke Energy is 145th in the Fortune 500 and one of the leading electricity providers in the United States. Duke Energy’s subsidiaries include Duke Energy Carolinas, Duke Energy Progress, and Duke Energy Florida.
Edison International is one of the oldest publicly traded electric utilities in the United States. Headquartered in Rosemead, California, Edison International serves more than 15 million customers across different states. It employs over 12,000 people and generates over $12 billion in annual revenues (as of 2013). They have total assets of $41.44 billion as of 2013.
Edison International was incorporated in 1909 as the Southern California Edison Company (SCE) and became Edison International in 1996. It is the successor to the original Edison Electric Company, which was founded by Thomas Edison himself in 1892.
The public utilities field is crucial to keeping society functioning smoothly. Companies in this field provide essential services such as electricity, gas, water, telecommunications, and transportation to the public. The companies mentioned in this article are some of the biggest names in the industry and play a vital role in powering communities across the United States.
From American Electric Power’s diverse fleet of electric generating plants to Duke Energy’s commitment to renewable energy, these companies are constantly innovating and adapting to meet the changing needs of their customers. As we continue to rely on these services, it’s important to recognize the hard work and dedication of the people behind the scenes who keep the lights on and the water flowing.