Energy ranking
Top 25 largest US-listed electric utilities by revenue 2026
NRG Energy is the largest US-listed company in this group, with revenue of USD 30.7 billion in its fiscal year ending 31 December 2025. The list ranks the 25 largest of 34 US-listed electric utilities by revenue reported for their latest full fiscal year.
Top 10 at a glance
The full list
| Rank | Company | Headquarters | Revenue, latest full fiscal year (USD million) |
|---|---|---|---|
| 1 | NRG Energy | United States | 30,713 |
| 2 | Southern Company | United States | 29,553 |
| 3 | NextEra Energy | United States | 25,800 |
| 4 | Constellation Energy | United States | 25,533 |
| 5 | American Electric Power | United States | 21,876 |
| 6 | Edison International | United States | 19,317 |
| 7 | Vistra | United States | 17,738 |
| 8 | Dominion Energy | United States | 16,506 |
| 9 | DTE Energy | United States | 15,814 |
| 10 | FirstEnergy | United States | 15,090 |
| 11 | Eversource Energy | United States | 13,547.2 |
| 12 | Entergy | United States | 12,946.7 |
| 13 | CenterPoint Energy | United States | 9,357 |
| 14 | PPL | United States | 9,042 |
| 15 | Brookfield Renewable | Bermuda | 6,407 |
| 16 | Pinnacle West Capital | United States | 5,339.9 |
| 17 | Portland General Electric | United States | 3,576 |
| 18 | OGE Energy | United States | 3,260.1 |
| 19 | Hawaiian Electric Industries | United States | 3,086.9 |
| 20 | Talen Energy | United States | 2,581 |
| 21 | Algonquin Power & Utilities | Canada | 2,433.6 |
| 22 | Black Hills | United States | 2,310 |
| 23 | TXNM Energy | United States | 2,165.6 |
| 24 | IDACORP | United States | 1,747 |
| 25 | Clearway Energy | United States | 1,429 |
How this list is built
Revenue is total revenue as reported in each company's annual financial statements for its latest full fiscal year filed by 9 November 2026, in US dollars; fiscal years differ, so each entry shows its fiscal year end. Companies are included if their shares trade on a US stock exchange and their primary Standard Industrial Classification code is 4911; companies that report in another currency, including IFRS reporters that do not report in US dollars, are not included, and each figure was checked against the prior year, other reported revenue lines and total assets. Where a listed parent and a listed subsidiary both qualify only the parent is ranked, two listed entities that report the same consolidated results are counted once, and ties share a rank.
Every position is set by the data alone, by the same rules for every company. Spotted something to update? Write to info@stratummarketresearch.com with the list and the line, and we correct it within two working days.
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Frequently asked questions
Who is number one in the electric utilities by revenue ranking?
NRG Energy ranks first with 30,713 USD million (Latest full fiscal year reported by 9 November 2026 (fiscal years ending 31 December 2025 to 31 December 2025)).
How is this ranking calculated?
Revenue is total revenue as reported in each company's annual financial statements for its latest full fiscal year filed by 9 November 2026, in US dollars; fiscal years differ, so each entry shows its fiscal year end. Companies are included if their shares trade on a US stock exchange and their primary Standard Industrial Classification code is 4911; companies that report in another currency, including IFRS reporters that do not report in US dollars, are not included, and each figure was checked against the prior year, other reported revenue lines and total assets. Where a listed parent and a listed subsidiary both qualify only the parent is ranked, two listed entities that report the same consolidated results are counted once, and ties share a rank.
Can a company pay to rank higher?
Positions come only from the counts described above, and inclusion is free. Every company is ranked by the same rules.
How often is the ranking updated?
Every list is recomputed each quarter from the latest public records, and the update date is printed on the page.
Can a ranked company use the badge?
Yes. Every ranked company can use the free web badge on this page on its website, in press releases and on social media.
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