Largest power utilities in the U.S. 2023, by market value

NextEra Energy was the leading electric utility in the U.S. as of June 2023, based on market value, at almost 153 billion U.S. dollars. Georgia-based electric utility Southern Company ranked second at that time, with a market value of roughly almost 82 billion dollars.

A new age of energy company

In addition to leading the ranking in the U.S., NextEra Energy was also the leading electric utility worldwide in terms of market value as of that month. Along with companies such as Iberdrola, Enel, Orsted, and EDF Energy, NextEra Energy is part of a new generation of energy giants nicknamed green supermajors. With large investments in renewable electricity capacity, these utilities have seen their market value soar in recent years, challenging established energy companies operating in the oil sector such as Chevron and Shell.

Electric utilities in the United States

Utilities provide the public with vital commodities or services such as power, natural gas, and water. In 2021, there were nearly 1,700 electricity providers operating in the U.S., of which cooperatives accounted for the largest share. While investor-owned utilities represented less than 10 percent of electricity providers in the country that year, they usually serve the highest number of customers. In 2021, more than 158 million customers were served by the U.S. electric industry.