An electric utility is a company often a public utility that engages in the generation, transmission, and distribution of electricity for sale generally in a regulated market. The electrical utility industry is a major provider of energy in most countries. Electricity is an integral part of life in the Developed world.
It is indispensable to factories, commercial establishments, homes, and even most recreational facilities. Lack of electricity causes not only inconvenience, but also economic loss due to reduced industrial production.. Utilities are regulated by local and national authorities.
Electric utilities include investor owned, publicly owned, cooperatives, and nationalized entities. They may be engaged in all or only some aspects of the industry. Electricity markets are also considered electric utilities sell electricity, acting as brokers, but usually do not own or operate generation, transmission, or distribution facilities.
An electric power system is a group of generation, transmission, distribution, communication, and other facilities that are physically connected. The flow of electricity with the system is maintained and controlled by dispatch centers or with coordination agreements among utilities that are not connected.
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