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2874 companies · fiscal year 2025 · SEC EDGAR · September 25, 2026

Largest utilities companies by total assets

Total assets is everything the company owns at the balance-sheet date. Banks and insurers dominate this measure because customer deposits and policy reserves sit on their balance sheets. Figures are for fiscal year 2025 and are read directly from each company's SEC filings; the source column on every row links to the document.

Ranks 1–100 of 101 · Fiscal year 2025 · Data as of September 25, 2026

NextEra Energy (NEE) tops the list with $213B in total assets for fiscal 2025, ahead of Duke Energy ($196B) and Southern ($156B). The top 10 together report $1.40T in total assets; the gap between #1 and #10 is ×2.16. 101 companies in Utilities report total assets, 3.6% of the 2836-filer universe. The last place on the list, Consolidated Water, comes in at $258M.

Total assets
#CompanyTotal assetsYoY15-year trend
1NextEra EnergyNEEUS$213B+11.9%
2Duke EnergyDUKUS$196B+5.0%
3SouthernSOUS$156B+7.3%
4Pg&EPCGUS$142B+5.9%
5Energy TransferETUS$141B+12.7%
6ExelonEXCUS$117B+8.2%
7Dominion EnergyDUS$116B+13.1%
8American Electric PowerAEPUS$114B+11.0%
9SempraSREUS$111B+15.3%
10Brookfield Renewable PartnersBEPBM$98.7B+4.1%
11Edison InternationalEIXUS$94.0B+9.9%
12TC EnergyTRPCA$86.7B+5.5%
13Enterprise Products PartnersEPDUS$77.9B+1.0%
14Consolidated EdisonEDUS$74.6B+5.7%
15Kinder MorganKMIUS$72.7B+1.9%
16EntergyETRUS$71.9B+11.0%
17OneokOKEUS$66.6B+4.0%
18Eversource EnergyESUS$63.8B+7.0%
19Williams CompaniesWMBUS$58.6B+7.4%
20Public Service EnterprisePEGUS$57.6B+5.4%
21Constellation EnergyCEGUS$57.2B+8.2%
22FirstenergyFEUS$55.9B+7.4%
23FortisFTSCA$54.7B+7.0%
24Venture GlobalVGUS$53.4B+22.9%
25AesAESUS$51.8B+9.2%
26Wec EnergyWECUS$51.5B+8.8%
27AmerenAEEUS$48.5B+8.7%
28Cheniere EnergyLNGUS$47.9B+9.2%
29CenterPoint EnergyCNPUS$46.5B+6.3%
30Brookfield RenewableBEPCUS$46.3B+4.8%
31Waste ManagementWMUS$45.8B+2.8%
32PPLPPLUS$45.2B+10.2%
33VistraVSTUS$41.6B+10.0%
34CMS EnergyCMSUS$39.9B+11.2%
35NiSourceNIUS$35.9B+12.8%
36American Water WorksAWKUS$35.4B+8.0%
37Republic ServicesRSGUS$34.4B+6.1%
38EvergyEVRGUS$33.9B+5.2%
39EmeraEMACA$32.7B+9.7%
40Pinnacle West CapitalPNWUS$30.0B+15.1%
41Atmos EnergyATOUS$29.8B+12.5%
42NRG EnergyNRGUS$29.1B+21.3%
43Hydro OneHRNNFCA$29.0B+13.6%
44Targa ResourcesTRGPUS$25.2B+10.9%
45Alliant EnergyLNTUS$25.0B+10.0%
46Brookfield InfrastructureBIPCUS$24.0B+1.9%
47Waste ConnectionsWCNCA$21.1B+6.6%
48Wisconsin Electric PowerWELPPUS$19.7B+14.5%
49XPLR InfrastructureXIFRUS$19.6B−3.4%
50Essential UtilitiesWTRGUS$19.5B−40.7%
51Cheniere Energy PartnersCQPUS$17.4B−0.1%
52Clearway EnergyCWENUS$16.7B+16.2%
53UgiUGIUS$15.8B+2.6%
54Western Midstream PartnersWESUS$15.0B+14.1%
55Oge EnergyOGEUS$14.4B+4.8%
56Algonquin Power & UtilitiesAQNCA$14.1B−16.7%
57GFL EnvironmentalGFLUS$14.1B−4.4%
58Portland General ElectricPORUS$13.2B+5.5%
59TXNM EnergyTXNMUS$12.1B+7.6%
60SpireSRUS$11.9B+5.4%
61Talen EnergyTLNUS$10.9B+78.6%
62Black HillsBKHUS$10.9B+8.5%
63New Fortress EnergyNFEUS$10.6B−18.3%
64DT MidstreamDTMUS$10.1B+1.5%
65IdacorpIDAUS$9.2B+9.0%
66National Fuel GasNFGUS$9.2B+10.9%
67Hawaiian Electric IndustriesHEUS$8.9B−0.1%
68Enlight Renewable EnergyENLTIL$8.6B+55.6%
69Northwestern EnergyNWEUS$8.5B+5.8%
70AvistaAVAUS$8.4B+5.3%
71New Jersey ResourcesNJRUS$7.9B+9.9%
72Clean HarborsCLHUS$7.6B+3.3%
73Kinetik HoldingsKNTKUS$7.1B+4.1%
74TransaltaTACCA$6.3B−4.2%
75Ormat TechnologiesORAUS$6.2B+10.2%
76Northwest NaturalNWNUS$6.2B+17.8%
77Antero MidstreamAMUS$5.9B+2.1%
78California Water ServiceCWTUS$5.7B+9.5%
79Kenon HoldingsKENSG$5.4B+27.7%
80H2o AmericaHTOUS$5.1B+10.5%
81NGL Energy PartnersNGLUS$4.4B−9.6%
82ArchrockAROCUS$4.3B+13.7%
83Kodiak Gas ServicesKGSUS$4.3B−2.6%
84Excelerate EnergyEEUS$4.1B+43.3%
85Chesapeake UtilitiesCPKUS$4.0B+11.7%
86Otter TailOTTRUS$4.0B+8.5%
87Casella Waste SystemsCWSTUS$3.3B+2.3%
88American States WaterAWRUS$2.7B+8.6%
89USA Compression PartnersUSACUS$2.6B−4.6%
90Centuri HoldingsCTRIUS$2.4B+16.1%
91Summit MidstreamSMCUS$2.4B+1.2%
92UnitilUTLUS$2.1B+18.9%
93Middlesex WaterMSEXUS$1.4B+8.8%
94Clean Energy FuelsCLNEUS$1.1B−15.0%
95Opal FuelsOPALUS$959M+8.9%
96Montauk RenewablesMNTKUS$435M+24.8%
97Hallador EnergyHNRGUS$408M+10.5%
98Genie EnergyGNEUS$389M+5.3%
99Via RenewablesVIASPUS$331M−4.0%
100Consolidated WaterCWCOKY$258M+5.9%

All figures from SEC filings · FY2025 · 100

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<p style="max-width:680px;font:13px system-ui,sans-serif">Source: <a href="https://companiesranked.com/en/largest-utilities-companies-by-total-assets">Largest utilities companies by total assets</a> — CompaniesRanked, compiled from SEC EDGAR filings</p>

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{{cite web |title=Largest utilities companies by total assets |url=https://companiesranked.com/en/largest-utilities-companies-by-total-assets |website=CompaniesRanked |date=2026-09-25 |language=en}}

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CompaniesRanked. (September 25, 2026). Largest utilities companies by total assets. CompaniesRanked. https://companiesranked.com/en/largest-utilities-companies-by-total-assets

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@misc{companiesranked-en-largest-utilities-companies-by-total-assets-2026,
  author       = {{CompaniesRanked}},
  title        = {{Largest utilities companies by total assets}},
  year         = {2026},
  howpublished = {\url{https://companiesranked.com/en/largest-utilities-companies-by-total-assets}},
  note         = {Compiled from SEC EDGAR XBRL filings; data as of 2026-09-25},
  urldate      = {2026-09-25}
}

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