Business, Legal & Accounting Glossary
The state or condition of being useful; usefulness.
Also:
A basic service such as electricity, gas, or water, or the company that provides such a service. Utilities are often regulated by the government.
A utility is a company that provides services to a community. In return for the exclusive right to serve a specified area, the company is regulated at the state level by a utility commission, who must approve utility rates and frequently investments in additional equipment. Utilities typically supply electricity, natural gas, sewer service, water, and telephone service- though other similar services may be similarly regulated.
Utilities are considered quasi-public companies. Whereas antitrust laws force most companies to engage in vigorous competition, the complexity of having multiple electric companies or multiple phone companies caused an exception in the case of utilites. The development of regulated utilities was a practical solution in the special case of those services.
usefulness
benefit
service
utilities
advantage
Antitrust
Rate base
To help you cite our definitions in your bibliography, here is the proper citation layout for the three major formatting styles, with all of the relevant information filled in.
Definitions for Utility are sourced/syndicated and enhanced from:
This glossary post was last updated: 28th November, 2021 | 0 Views.