Largest electric utilities in the U.S. 2023, by number of customers

Florida Power & Light Company was the electric utility with the highest number of customers in the United States in 2023. That year, it served approximately 5.8 million customers. Southern California Edison Company came in second, with 3.7 million customers. Florida Power & Light is a subsidiary of NextEra Energy, the largest energy holding company in the country, and is considered one of the new energy majors due to its great investments in renewable energy. NextEra Energy has one of the highest customer satisfaction scores of investor-owned utilities in the U.S.

Utility ownership in the United States

Around one-third of electricity providers in the United States are cooperatives, while a little less than 30 percent are municipal utilities. Although municipal and cooperative utilities greatly outnumber investor-owned utilities (IOUs) in the U.S., IOUs serve the highest number of customers. This is because municipal and cooperative utilities are much smaller and locally based, generally operating not for profit and without commercial incentive to expand.

Largest companies in the United States and revenue

Florida Power & Light and Southern California Edison are also the two largest IOUs in the U.S. and generated some of the highest commercial revenue among leading electric utilities in 2023. While Virginia Electric and Power had a lower number of customers, it ranked highly for commercial revenue, above many larger companies.