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Utility companies provide natural gas, electricity, water, sewage, and other necessities for both residential and commercial properties. While many companies in the utilities sector make a profit, they are typically heavily regulated by public authorities. Utility companies range from large businesses that provide a spectrum of services to specialized, niche companies focusing on wind energy and other specific services.
The list below represents the 10 biggest utility companies in the world, ranked by market capitalization. The market cap information is as of June 28, 2025.
Key Takeaways
- Utility companies provide natural gas, electricity, water, sewage, and other necessities for both residential and commercial properties.
- Utility companies are for-profit entities, but they are typically heavily regulated by public authorities.
- Utility companies include large companies that provide utilities from all sources or small niche companies focusing on only renewable energy.
- The largest utility company in the world by market cap is Nextera Energy.
Nextera Energy
Market Capitalization: $145.93 Billion
NextEra Energy is a century‑old American utility powerhouse based in Juno‑Beach, Florida. Growing from its origins as Florida Power & Light to a global clean‑energy leader, it now operates through FPL, the third‑largest U.S. electric utility as well as NextEra Energy Resources, the world’s largest wind and solar generator. The current CEO is John Ketchum.
Iberdrola
Market Capitalization: $119.24 Billion
Iberdrola, headquartered in Bilbao, Spain, is a century‑old global energy leader renowned as the world’s top wind-power producer. It has supplied power to around 100 million people worldwide, operates in over a dozen countries including Spain, the United States, UK, Brazil, Mexico, and Australia. It employs over 40,000 staff.
TAQA
Market Capitalization: $109.30 Billion
TAQA (Abu Dhabi National Energy Company), established in 2005, is a government-controlled diversified energy and utilities group based in Abu Dhabi that provides power generation, water desalination, and oil & gas services across 11 countries. It specializes in well solutions for the oil and gas industry, covering drilling, completions, interventions, and related technologies.
China Yangtze Power
Market Capitalization: $106.14 Billion
China Yangtze Power Co., Ltd., established in 2002 and listed on the Shanghai Stock Exchange in 2003, is China’s largest listed hydropower company and the world’s premier listed hydropower generator. It operates six major cascade dams such as the Three Gorges, Gezhouba, Xiluodu, and Baihetan. These dams have over 71.7 GW installed capacity and generate around 276 TWh annually. Beyond hydro, CYPC has expanded into smart integrated energy, wind, solar, and power distribution.
Warning
Some of these stocks are only traded over-the-counter (OTC) in the U.S., not on exchanges. Trading OTC stocks often carries higher trading costs than trading stocks on exchanges. This can lower or even outweigh potential returns.
Constellation Energy
Market Capitalization: $100.34 Billion
Constellation Energy, headquartered in Baltimore, is the largest producer of carbon‑free energy in the United States. It generates nearly 90% of its power from low- or zero‑carbon sources such as nuclear, hydro, wind, and solar. With a capacity of over 32,400 MW, it powers around 16–20 million homes and serves about 2 million customers. Constellation Energy provides roughly 10% of the nation’s clean energy.
Southern Company
Market Capitalization: $100.00 Billion
Southern Company, based in Atlanta, is a major U.S. energy holding company serving around 9 million customers across six states through its regulated electric utilities, natural gas distribution businesses, and competitive generation and infrastructure subsidiaries. It emphasizes clean, safe, affordable, and reliable energy. It does that by leveraging a diverse mix that includes nuclear (notably the new Vogtle Units 3 & 4), hydro, natural gas, renewables, and grid innovation.
Enel
Market Capitalization: $95.86 Billion
Enel is a major Italian multinational energy company headquartered in Rome. It operates in around 30 countries across five continents with roughly 60,000 employees and nearly 70 million customers. It also manages about 88 GW of generation capacity, including a large renewable portfolio via Enel Green Power. It also focuses on sustainable innovation in smart grids, e‑mobility, and digital solutions to drive the global energy transition.
Duke Energy
Market Capitalization: $90.87 Billion
Duke Energy, based in Charlotte, North Carolina, is one of the largest U.S. energy holding companies, serving over 8 million electric and more than 1.6 million natural gas customers across multiple states with around 50,000–58,000 MW of generation capacity from nuclear, gas, coal, and renewables. The company is aggressively transitioning to clean energy, targeting at least 50% reduction in carbon emissions by 2030 and net-zero by 2050. It hopes to achieve this by investing in grid modernization, battery storage, and emerging zero-emission technologies like hydrogen.
National Grid
Market Capitalization: $72.07 Billion
National Grid is a major investor-owned utility operating in the UK and the northeastern U.S., providing electricity and gas services to over 20 million people across New York, Massachusetts, Rhode Island, New Hampshire, and Vermont. It’s leading a significant transformation of its energy networks; by investing around £60 billion (over $75 billion) through 2029, National Grid wants to modernize grids, enhance resilience, support the clean energy transition, and meet climate targets.
ENGIE
Market Capitalization: $56.31 Billion
Engie is a French multinational energy and services group headquartered in La Défense, near Paris, operating across 30+ countries with around 97,000 employees and €83 billion in revenues (2023). It focuses on low-carbon electricity generation (103 GW capacity, 90% from low‑carbon sources, with 23% renewables), gas infrastructure, and customer energy solutions. It’s also committed to achieving net-zero carbon by 2045.
What Is an Example of a Utility Company?
A utility company is an organization that provides electricity, gas, sewage, water, or other such necessities to a population. These companies are either the producers or distributors of utilities. Utility companies are for-profit companies but are part of the public sector.
Who Has the Highest Utility Rates in the U.S.?
The state with the most expensive electricity is Hawaii, costing just 41.27 cents per kilowatt-hour. This information is the latest data available as of June 2025, though the data is from September 2024.
What State Has the Cheapest Electricity?
The state with the cheapest electricity is Utah, costing just 11.42 cents per kilowatt-hour. This information is the latest data available as of June 2025, though the data is from September 2024.
The Bottom Line
These are the largest energy companies around the world, providing energy services to billions of people when combined. Many of these companies have made significant headway into renewable sources and continue to prioritize their business with that as a core strategy.
