A power company that owns or operates facilities used for the generation, transmission, or distribution of electric energy, which is regulated at state and federal levels. Bloomberg Financial Dictionary
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utility u‧til‧i‧ty [juːˈtɪlti] noun utilities PLURALFORM
1. [countable usually plural] COMMERCE a large company that provides services such as gas or electricity:
• One major electric utility has already given layoff notices to 150 workers.
• the public utilities
2. [countable usually plural] COMMERCE a service such as gas or electricity, provided for people to use:
• Does your rent include utilities?
• There are several reasons why you might want to use a data compression utility.
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utility UK US /juːˈtɪləti/ noun (plural utilities)
► [C] a service for supplying electricity, gas, etc.: utility bill/company/costs »
Please enclose a copy of a recent utility bill as proof of address.
»the rising cost of utilities
► [C] a large company that provides a service such as electricity, gas, etc.: »
We are a natural gas utility serving over a million customers in the Michigan area.
»With energy consumption rising, many public utilities are struggling to meet peak-time demand.
► [C] IT a computer program that is used to do a particular task: »
The program includes a set of utilities and file recovery tools for advanced users.
► [U] how useful something is: »
The product became popular thanks to its high utility in many different situations.
Financial and business terms. 2012.