Yahoo Finance

Con Ed is a holding company for Consolidated Edison of New York, or CECONY, and Orange & Rockland, or O&R. These utilities provide steam, natural gas, and electricity to customers in southeastern New York—including New York City—and small parts of New Jersey. The two utilities generate nearly all of Con Ed's earnings following the sale of its clean energy business to RWE in early 2023.

National Grid owns and operates the electric transmission system in England and Wales. It sold the bulk of its UK gas transmission business in fiscal 2023 to fund the acquisition of PPL's UK power distribution assets. In the Northeastern United States, it serves electricity and gas customers combined in three states. It also owns regulated transmission and electricity generation in the United States, metering services, merchant transmission lines in the UK, and the Grain (UK) liquefied natural gas facility.

PPL is a holding company of regulated utilities in Pennsylvania, Kentucky, and Rhode Island. The Pennsylvania regulated delivery and transmission segment distributes electricity to customers in central and eastern Pennsylvania. LG&E and KU are involved in regulated electricity generation, transmission, and distribution in Kentucky. The Kentucky utilities also serve gas customers. Rhode Island Energy operates electric and gas utilities in Rhode Island.

PPL Corp., based in Allentown, Pennsylvania, has generation, transmission, distribution, and wholesale operations. Its utilities deliver electricity and natural gas on a regulated basis to customers in Pennsylvania, Kentucky, Rhode Island, and Virginia. The company also serves natural gas customers in Kentucky. The company has 3.5 million customers. In 2023, Kentucky regulated utilities accounted for 42% of total revenue while Pennsylvania regulated utilities accounted for 36%. PPL has regulated utility operations in Pennsylvania (PPL Electric, 1.4 million customers), Kentucky (KU and Louisville Gas and Electric, 1.3 million), Virginia (less than 0.1 million) and Rhode Island (Rhode Island Energy, previously called Narragansett Electric, 0.8 million). PPL has significant coal usage as a generating fuel. Management is targeting net-zero emissions by 2050, which is in line with utilities with coal plants. In addition to adding generation assets to its rate base, management has been reporting an uptick in future data center demand, which should drive transmission upgrades. The company's market cap is $25 billion.