Top 10: Utilities Companies

Top 10: Utilities Companies
Including leading industry players like National Grid, ACWA, Iberdrola and NextEra, Energy Digital compiles 10 of the world’s top utilities

Demand for sustainable and reliable energy is at an all-time high, which means the role of utility companies has never been more critical. 

These entities — which provide the likes of natural gas, electricity, water and other basic necessities — are key in providing supply as the demand for services surges.

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According to the International Energy Agency (IEA), global electricity demand rose moderately in 2023 but is set to grow faster through 2026. Utilities have to keep up with this demand to support infrastructure and daily life both now and in the years to come.

Utilities must also evolve as sustainability takes precedence and the transition to renewable energy continues to build momentum.

With this in mind, Energy Digital shares the world’s top 10 utilities companies, the most financially successful in the industry, as they continue to power the lives of billions of people worldwide while at the forefront of pioneering innovations that drive the transition to renewable energy sources and smarter grids. 

10. National Grid
Market cap: US$58.4bn

One of the world’s largest publicly listed utilities focused on transmission and distribution of electricity and gas, National Grid plays a vital role in connecting millions of people to the energy they use safely, reliably and efficiently. The British multinational electricity and gas utility company, headquartered in London, owns and operates electricity and natural gas transmission networks across the UK and supplies electricity and gas in Northeastern US, namely New York and Massachusetts.

9. Constellation Energy
Market cap: US$68bn

Constellation is the US’ largest producer of reliable, clean, carbon-free energy and is a leading supplier of energy products and services like sustainable energy situations. It provides these to millions of homes and businesses, including more than half of Fortune 500 companies. Its generation fleet of nuclear, hydro, wind and solar generation facilities powers more than 16 million homes and businesses, providing 10% of all clean power on the grid in the US.

8. ACWA Power
Market cap: US$70.8bn

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A developer, investor, co-owner and operator of a portfolio of power generation, renewable energy and desalinated water production plants in Saudi Arabia, ACWA Power has a presence in 13 countries across the Middle East, Africa, Central and South-East Asia. It boasts a capacity of approximately 55.1GW of power and has 90 assets in operation, construction or advanced development.

7. Enel
Market cap: US$73.4bn

The Enel Group operates in more than 30 countries, bringing energy to people through the adoption of new sustainability-oriented technologies. The Italian multinational manufacturer and distributor of electricity and gas was first established as a public body in 1962 before becoming a limited company 30 years later and then privatised 25 years ago. It brands itself as one of the most important utilities in the world thanks to its position as the largest private operator in renewables in terms of installed capacity. It also serves the largest number of customers in the world with its distribution networks and has the largest customer base globally.

6. Duke Energy
Market cap: US$77.7bn

Leading US utility Duke Energy serves 8.5m customers across six states and has more than 8,000MW of renewable energy in its portfolio. The utility aims, like many others, for net-zero carbon emissions by 2050 and supports this as a pioneer in smart grid technology. Across the states in which it operates, Duke collectively owns around 54,800MW of energy capacity. Duke Energy is dedicated to providing clean, reliable and affordable energy and sets itself apart as a leader in sustainable innovation, powering solutions to help its customers.

5. Iberdrola
Market cap: US$80bn

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A global leader in renewable energy, Iberdrola is a stellar example of a world-leading utility. Headed up by Executive Chairman Ignacio Galán, Iberdrola is a firm built around electrification, environmental protection and social responsibility. The Spanish multinational electric utility operates in Brazil, Mexico, the UK and the US, with more than 100 million people’s energy coming from Iberdrola.

“We are very proud of what we have been building at Iberdrola over the past two decades, in line with our century-long history,” Ignacio said. “And we want to continue driving the transition towards an energy system based on renewable energy, grids and storage to build a more sustainable, fair, fraternal, supportive and prosperous society and a more habitable planet for new generations.”

4. Southern Company
Market cap: US$85.1bn

American gas and electric utility Southern Company has made its name as a leading producer of clean, safe, reliable and affordable energy. It invests in clean energy solutions for its customer base, which now stands at around 9m. Operating out of Atlanta, Georgia, it is the second largest utility company in the US in terms of customer base. Chris Womack is its Chairman, President and CEO, who previously held the same role at Georgia Power, Southern Company's largest subsidiary.

3. TAQA
Market cap: US$88.2bn

The Abu Dhabi National Energy Company, TAQA is an international energy and water company operating in 11 countries across four continents. It prides itself in driving innovation to create value for its customers while facilitating economic growth and enabling energy sustainability. The company employs a workforce of more than 5,500 across 20 countries.

“At TAQA, we partner with our customers to address their most pressing challenges while enabling their performance through technology and innovation on a path marked by excellence in everything we do,” said CEO Khalid M. Nouh.

2. China Yangtze Power
Market cap: US$102bn

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Yangtze Power is a Chinese utilities company headquartered in Beijing. Founded in 2002, it is one of China’s largest utilities. Its influence and power is a result of its scale, financial strength, renewable energy focus and operational excellence. Notably, it operates the Three Gorges Dam, the world's largest hydroelectric power station, which boasts a capacity of 22,500MW.

1. NextEra Energy
Market cap: US$148.2bn

The world's largest electric utility holding company by market capitalisation, NextEra Energy is the parent company of a variety of other well-known brands, including Florida Power & Light, NextEra Energy Resources, NextEra Energy Partners, Gulf Power Company and NextEra Energy Services. Its history spans back 100 years and has, on multiple occasions, taken the top spot among World's Most Admired Companies, as set out by Forbes. It is responsible for about 58GW of generating capacity, shy of half of this coming from fossil fuel sources, and employs 15,000 people to keep its operations at optimum levels across the US and Canada.

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