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public utility |
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public utility: see utility, public utility, public, industry required by law to render adequate service in its field at reasonable prices to all who apply for it. Public utilities frequently operate as monopolies in their market. ..... Click the link for more information. . public utilityEnterprise that provides certain classes of services to the public, including common-carrier transportation (buses, airlines, railroads); telephone and telegraph services; power, heat and light; and community facilities for water and sanitation. In most countries such enterprises are state-owned and state-operated; in the U.S. they are mainly privately owned, but they operate under close regulation. Given the technology of production and distribution, they are considered natural monopolies, since the capital costs for such enterprises are large and the existence of competing or parallel systems would be inordinately expensive and wasteful. Government regulation in the U.S., particularly at the state level, aims to ensure safe operation, reasonable rates, and service on equal terms to all customers. Some states have experimented with deregulation of electricity and natural-gas operations to stimulate price reductions and improved service through competition, but the results have not been universally promising. public utility an enterprise concerned with the provision to the public of essentials, such as electricity or water How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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Utility companies are unique, in that they are for-profit service organizations that have a great deal of responsibility to the government and constituents of the areas that they serve. In addition to meeting the guidelines of the New York Public Service Commission, the leading utility companies in this market, Keyspan, Con Edison and Orange and Rockland Utilities, are receptive to Intelligent Energy's starting operations in the region. While wholesale energy prices surged, the market became volatile and utility companies struggled to remain solvent. |
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