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Largest electric utilities8/10/2023 ![]() ![]() The following lists the 20 biggest power generators in the United States, according a Reuters survey of company data. In Texas, one megawatt can supply about 500 homes during mild weather, but only 200 homes in the summer when demand is highest. In 2012, Dynegy Inc DYN.N and Edison International's EIX.N merchant generating unit, Edison Mission Energy, filed for protection due to the slump in gas prices, which in turn depressed power prices. Nashville Electric Service is one of the 12 largest public electric utilities in the nation, distributing energy to over 380,000 customers in Middle. Like telecom services, electric utilities are one business expense that can be very complicated to manage. These companies often offer both electricity and natural gas, including all ten of our list of the largest utility companies in the US. PG&E Corp PCG.N put its Pacific Gas and Electric utility unit, the biggest power company in California, into bankruptcy in 2001 to halt losses during the state's energy crisis.Īfter the California crisis, several merchant power companies failed due to the collapse of trading and weaker electric prices, including NRG Energy Inc NRG.N in 2003, Mirant in 2003, PG&E's merchant generating unit National Energy Group in 2003 and Calpine Corp CPN.N in 2005. When it comes to the largest utility companies in the US, a majority of them are electric. Still, the power industry is no stranger to high-profile bankruptcies.Įnron, the biggest energy trader, collapsed in 2001 following the California energy crisis of 2000-2001 and an accounting scandal. Though tiny, Optim Energy LLC of Texas filed for creditor protection in February, analysts say it is unlikely other power companies will follow Energy Future Holdings into bankruptcy in the near future and consumers are not expected to suffer power disruptions. Two EFH units, generator Luminant and distributor Oncor, are among the top 20 generation and distribution companies in the United States. State-owned electric utility State Grid Corporation of China (SGCC) recorded a revenue of 347bn in 2018 to emerge as the world’s biggest power company. The deal was a gamble on continued high natural gas prices just before the cost of gas collapsed as shale output surged. The State Grid Corporation of China is the world’s biggest power company by revenue. (Reuters) - Privately held Energy Future Holdings, the biggest power company in Texas, has filed for bankruptcy with more than $40 billion in debt to myriad classes of bondholders and lenders.įormerly known as TXU Corp, Energy Future was formed in 2007 in a leveraged buyout that loaded the company with more than $40 billion in debt.
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