Electricity is the one product every reader of this magazine uses every hour, made and delivered by an industry organised in strikingly different ways. In Florida and Virginia it is still the classic regulated utility, earning a return set by a state commission; in Texas and across PJM it is a merchant business that lives or dies by the wholesale price; in Bilbao, Rome and Paris it is the integrated European major, owning wires and wind farms on several continents; and in Beijing, Seoul, New Delhi, Riyadh and Johannesburg it is the state itself, running the grid on which a whole economy turns. This guide maps thirty of the companies that keep the lights on — who leads each of them in October 2026, under exact published titles; what they generate, carry and sell; how many customers they serve and on what basis that number is counted; what they earned in their last reported year; and how a customer, a regulator or a competitor actually reaches them. Every figure is dated and sourced in its entry, capacity bases are stated rather than merged, and every field that could not be verified to that standard is named, in the entry and again at the end, under Named Gaps.

The thirty are grouped by posture, not by size: eleven integrated utilities that generate, carry and sell; seven regulated utilities whose returns are set by commissions; three generation and merchant houses with no wires at all; three grid and transmission companies that own no power stations worth the name; and six state utilities, from EDF — renationalised in 2023 and building Europe's next nuclear fleet — to Eskom, whose turnaround South Africa watches by the week. State Grid Corporation of China appears as a context entry, honestly framed: by revenue it is the largest utility organisation on earth, and its English-language disclosure is thinner than that of the listed companies around it, which is itself reported rather than papered over.

INTEGRATED UTILITY

1. NEXTERA ENERGY, INC. — JUNO BEACH, FLORIDA, UNITED STATES

Founded 1925 (as Florida Power & Light Company) · Integrated utility

Leader: John W. Ketchum, Chairman, President and Chief Executive Officer

Leadership: Chair: John W. Ketchum, Chairman of the Board President / COO: President and CEO role combined in John W. Ketchum; NextEra Energy Resources is led by its own president and CEO as published on nexteraenergy.com CFO: Kirk B. Crews, Executive Vice President and Chief Financial Officer Other C-suite: Executive Vice Presidents heading Florida Power & Light, NextEra Energy Resources, legal, human resources and nuclear operations, as published on the company leadership page Senior leadership: Named executive team published at nexteraenergy.com/about-us/leadership; subsidiary presidents for FPL and Energy Resources named there

Business: Generation (natural gas, nuclear, wind, solar and battery storage); transmission; distribution; retail electricity supply through Florida Power & Light; wholesale and merchant renewables through NextEra Energy Resources; energy trading and services

Customers: About 5.2 million FPL customer accounts, serving more than 12 million people in Florida (company reporting, 2024); Energy Resources sells wholesale to utilities, cooperatives, municipalities and corporate buyers across North America

Scale: Revenue US$24.97 billion, FY2024 (year ended 31 Dec 2024, NextEra Energy Form 10-K)

Generation & capacity: Natural gas the largest fuel, with nuclear, wind and solar making up most of the remainder; FPL's 2024 fuel mix was majority natural gas with nuclear and growing solar, as published in its 10-K and sustainability reporting Capacity: About 72 GW of generating capacity in operation across the group (company reporting, 2024, including Energy Resources' renewables portfolio)

Footprint: Florida (FPL service territory covering most of the state's east and Gulf coasts); generation assets in 41 U.S. states and Canada

Structure: Ownership: Publicly traded (NYSE: NEE); widely held, no controlling shareholder Access: Primarily rate-regulated in Florida (Florida Public Service Commission) for FPL customers, who reach the company through FPL service channels; merchant and renewables output is sold under contract and into wholesale markets, not to walk-in retail customers outside Florida. Headquarters: 700 Universe Boulevard, Juno Beach, FL 33408, United States

Website: www.nexteraenergy.com · Contact: Phone: Not published · Email: Not published

Founded as Florida Power & Light in 1925; the holding company became FPL Group and was renamed NextEra Energy in 2010, pairing the Florida regulated utility with NextEra Energy Resources, the world's largest wind and solar generator. The largest U.S. utility by market capitalisation for most of the past decade and simultaneously the world's largest producer of wind and solar electricity — the regulated and merchant models under one roof. Ketchum succeeded James Robo as CEO in 2022. FPL's rate cases and Energy Resources' contracted renewables backlog are the two figures most often cited for the group.

Sources: NextEra Energy Form 10-K FY2024 and leadership pages (nexteraenergy.com), Oct 2026; Florida Power & Light company profile

2. SOUTHERN COMPANY — ATLANTA, GEORGIA, UNITED STATES

Founded 1945 · Integrated utility

Leader: Christopher C. (Chris) Womack, Chairman, President and Chief Executive Officer

Leadership: Chair: Christopher C. Womack, Chairman of the Board President / COO: President and CEO roles combined in Chris Womack; operating-company presidents (Georgia Power, Alabama Power, Mississippi Power, Southern Company Gas) named on southerncompany.com CFO: Daniel S. Tucker, Executive Vice President and Chief Financial Officer Other C-suite: Executive Vice Presidents for operations, external affairs, legal and compliance, human resources and Southern Power / Southern Nuclear leadership, as published on the company leadership page Senior leadership: Named executive team and operating-company chief executives published at southerncompany.com/about-us/leadership

Business: Generation (nuclear, natural gas, coal in retirement, hydro, wind and solar); transmission; distribution; retail electricity and natural gas distribution (Southern Company Gas); wholesale generation (Southern Power); nuclear operations (Southern Nuclear, operator of Plants Vogtle, Hatch and Farley)

Customers: About 9 million utility customers across the electric and gas businesses (company reporting, 2024): Georgia Power about 2.8 million, Alabama Power about 1.5 million, Mississippi Power about 190,000, plus gas distribution customers in four states

Scale: Revenue US$26.7 billion, FY2024 (year ended 31 Dec 2024, Southern Company Form 10-K)

Generation & capacity: Natural gas and nuclear the two largest sources in 2024, with coal sharply reduced from historic levels, plus hydro, wind and solar; Plant Vogtle Units 3 and 4 (entered service 2023-24) made Southern the largest U.S. nuclear operator by units in its fleet, per company reporting Capacity: About 48 GW of generating capacity (company reporting, 2024)

Footprint: Electric service in Georgia, Alabama and Mississippi; gas distribution in Illinois, Georgia, Virginia and Tennessee; wholesale generation across the United States

Structure: Ownership: Publicly traded (NYSE: SO); widely held Access: Rate-regulated by state public service commissions in Georgia, Alabama and Mississippi (and gas regulators in its gas states); customers reach operating companies directly; wholesale output is contracted, not retail-sold. Headquarters: 30 Ivan Allen Jr. Boulevard NW, Atlanta, GA 30308, United States

Website: www.southerncompany.com · Contact: Phone: Not published · Email: Not published

Incorporated in 1945 as the holding company for the Southeast utilities assembled earlier by Commonwealth & Southern; today parent of Georgia Power, Alabama Power, Mississippi Power, Southern Company Gas and Southern Power. Builder and operator of Vogtle 3 and 4, the first new U.S. nuclear units in a generation, and one of the few U.S. utilities running both a large regulated fleet and a national gas-distribution business. Womack became CEO in 2023, succeeding Thomas A. Fanning. Southern Nuclear operates the fleet; ownership of Vogtle is shared with co-owners including Oglethorpe Power and MEAG Power.

Sources: Southern Company Form 10-K FY2024 and leadership pages (southerncompany.com), Oct 2026

3. IBERDROLA, S.A. — BILBAO, SPAIN

Founded 1992 (merger of Hidrola and Iberduero; origins 1840s-1901) · Integrated utility

Leader: Pedro Azagra Blázquez, Chief Executive Officer (appointed by the board 24 June 2025; confirmed by shareholders at the 2026 General Meeting)

Leadership: Chair: José Ignacio Sánchez Galán, Executive Chairman President / COO: No separate President/COO title published; the Chief Executive Officer is second to the Executive Chairman in the published structure CFO: José Sainz Armada, Chief Financial Officer (named as CFO in Iberdrola's 2025 results presentations) Other C-suite: Group executive committee published at iberdrola.com, including the chief executives of Avangrid (United States), ScottishPower (United Kingdom), Neoenergia (Brazil) and Iberdrola España, and corporate directors for finance, control, legal and sustainability Senior leadership: Board composition and executive committee published at iberdrola.com/corporate-governance, verified Oct 2026

Business: Generation (onshore and offshore wind, solar, hydro including pumped storage, nuclear share in Spain, and gas); transmission and distribution networks; retail electricity and gas supply; green hydrogen and energy services

Customers: More than 36 million supply points / contracts across its networks and retail businesses and about 100 million people served by its distribution networks worldwide (company reporting, 2024-25)

Scale: Revenue €44.7 billion, FY2024 (Iberdrola consolidated results, Feb 2025); net profit €6.285 billion and investment of €14.46 billion in FY2025 as reported to the 2026 General Meeting

Generation & capacity: Predominantly renewable generation — wind (onshore and offshore), hydro and solar — with nuclear and efficient gas as firm capacity; renewables were about two-thirds of installed capacity in company reporting for 2024 Capacity: About 63 GW installed capacity, of which roughly 42 GW renewable (company reporting, end-2024)

Footprint: Spain, United Kingdom (ScottishPower), United States (Avangrid, eight states), Brazil (Neoenergia), Mexico, Australia and a growing offshore-wind portfolio in Germany, France and the North Sea

Structure: Ownership: Publicly traded (BME: IBE); widely held, largest shareholders include Qatar Investment Authority as published in CNMV filings Access: Mixed posture: regulated networks in Spain, the UK, the U.S. and Brazil earn regulator-set returns, while generation and retail compete in liberalised markets; customers contract through Avangrid, ScottishPower, Neoenergia and Iberdrola España retail brands. Headquarters: Plaza Euskadi 5, 48009 Bilbao, Spain

Website: www.iberdrola.com · Contact: Phone: Not published · Email: Not published

Formed in 1992 from Hidroeléctrica Española and Iberduero, themselves descendants of early Spanish hydro companies (Hidroeléctrica Ibérica, 1901); internationalised from the 2000s through ScottishPower (UK), Energy East / Avangrid (U.S.) and Elektro / Neoenergia (Brazil). Europe's largest electricity company by market capitalisation (surpassing €135 billion in 2025, per the 2026 General Meeting report) and the template for the networks-plus-renewables integrated model. Pedro Azagra, previously CEO of Avangrid, succeeded Armando Martínez as group CEO in June 2025; Galán remains Executive Chairman. Iberdrola agreed in 2025 to take Avangrid's renewables and networks strategy further into U.S. grids in its 2026-28 plan (€43 billion investment).

Sources: Iberdrola board composition and 2026 General Meeting pages and FY2024 results (iberdrola.com), verified Oct 2026; Avangrid appointment release, 24 Jun 2025

4. ENEL S.P.A. — ROME, ITALY

Founded 1962 · Integrated utility

Leader: Flavio Cattaneo, Chief Executive Officer and General Manager

Leadership: Chair: Paolo Scaroni, Chairman of the Board President / COO: No separate President/COO title published; business-line heads (Enel Green Power, Enel Grids, Enel X Global Retail) report to the CEO as published on enel.com CFO: Stefano De Angelis, Chief Financial Officer Other C-suite: Heads of Enel Green Power, Enel Grids and Networks, Global Retail, Global Services and country managers for Italy, Iberia and Latin America, as published on enel.com Senior leadership: Board and top management published at enel.com/investors and enel.com/company, verified Oct 2026

Business: Generation (renewables through Enel Green Power, plus thermal and nuclear share via Endesa in Spain); transmission and distribution networks (e-distribuzione and peers); retail electricity and gas supply; energy services, e-mobility and flexibility (Enel X)

Customers: About 55 million retail customers and about 65 million network end users (company reporting, 2024); customer categories: residential, business, public administrations and large industrials

Scale: Revenue €79.9 billion, FY2024 (Enel consolidated annual report 2024)

Generation & capacity: Renewables — hydro, wind, solar and geothermal — supplied the majority of Enel's own generation in 2024, with gas, coal (being phased out in Italy) and nuclear (Spain, via Endesa) making up the balance, per the 2024 annual report Capacity: About 81 GW total installed capacity, of which about 65 GW renewable (company reporting, end-2024)

Footprint: Italy, Spain and Portugal (Endesa), Romania, and Latin America (Argentina, Brazil, Chile, Colombia, Peru and Central America), plus renewables in North America and other markets — about 28 countries in the current perimeter

Structure: Ownership: Publicly traded (BIT: ENEL); Italian Ministry of Economy and Finance holds about 23.6% as published by the company Access: Networks are regulated concession businesses (ARERA in Italy, CNMC in Spain, and Latin American regulators); generation and retail compete in liberalised markets, reached through Enel Energia, Endesa and country retail brands. Headquarters: Viale Regina Margherita 137, 00198 Rome, Italy

Website: www.enel.com · Contact: Phone: Not published · Email: Not published

Created in 1962 as Italy's national electricity entity; corporatised and partly privatised from 1999, then internationalised through Endesa (Spain and Latin America) and assets across Europe and the Americas; Enel Green Power built one of the world's largest renewables fleets. The largest private electricity distribution operator in this guide by end users, and the owner of the world's oldest geothermal fleet in Tuscany alongside a global renewables business. Cattaneo and Scaroni took office in May 2023. Enel has been simplifying its Latin American and European perimeter since 2023; country counts therefore differ between reporting dates and are dated in this entry.

Sources: Enel annual report and results FY2024 and management pages (enel.com), Oct 2026

5. ENGIE SA — COURBEVOIE (PARIS-LA DÉFENSE), FRANCE

Founded 2008 (merger of Gaz de France and Suez; origins 1858) · Integrated utility

Leader: Catherine MacGregor, Chief Executive Officer

Leadership: Chair: Jean-Pierre Clamadieu, Chairman of the Board President / COO: No separate President/COO title published; Executive Committee business-line heads (Renewables, Networks, Energy Solutions, Flex Gen & Retail) report to the CEO CFO: Pierre-François Riolacci, Executive Vice President, Finance (Group CFO) Other C-suite: Executive Committee published at engie.com, including the heads of Renewables & Batteries, Networks, Energy Solutions, Flex Gen & Retail, and corporate functions Senior leadership: Executive Committee and Board published at engie.com/group/governance, verified Oct 2026

Business: Generation (renewables, gas-fired flexible generation, and the Belgian nuclear fleet operated by Engie Electrabel under agreement with the Belgian state); transmission and distribution (gas networks through GRDF/GRTgaz stakes and electricity activities); retail energy supply; energy services and district heating/cooling

Customers: Retail and B2B energy customers across France, Belgium and other markets, plus network users; Engie reports millions of retail contracts in France and Belgium and a global B2B client base (company reporting, 2024) — exact group customer count by category is published in its Universal Registration Document

Scale: Revenue €73.3 billion, FY2024 (ENGIE annual results, Feb 2025)

Generation & capacity: Gas the largest single source of Engie's power output in 2024, with renewables (wind, solar, hydro) growing fastest and nuclear from the Belgian fleet; renewables were about 41% of its power generation capacity in company reporting for 2024 Capacity: About 116 GW of power generation capacity in operation and construction gross, including about 46 GW renewable (company reporting, end-2024; basis as published by ENGIE)

Footprint: About 30 countries, with core positions in France, Belgium, Brazil, Chile, Mexico, the United States, the Middle East and Australia

Structure: Ownership: Publicly traded (Euronext Paris: ENGI); the French State holds about 23.6% as published by the company Access: Mixed: French gas distribution and much network activity is regulated (CRE); power generation and retail are competitive, reached through ENGIE retail brands and its B2B supply business. Headquarters: 1 place Samuel de Champlain, 92400 Courbevoie, France

Website: www.engie.com · Contact: Phone: Not published · Email: Not published

Created by the 2008 merger of Gaz de France (1946) and Suez (origins in the Compagnie universelle du canal maritime de Suez, 1858); refocused since 2021 on renewables, networks and energy services under its current strategy, exiting many thermal and services activities. The bridge between the gas age and the electric age in this guide: Europe's largest gas network interests alongside a top-tier global renewables developer and the operator of Belgium's nuclear fleet. MacGregor became CEO in 2021. Belgium's nuclear lifetime-extension agreement for Doel 4 and Tihange 3, signed with the Belgian state, is a defining current commitment.

Sources: ENGIE FY2024 results and governance pages (engie.com), Oct 2026

6. E.ON SE — ESSEN, GERMANY

Founded 2000 (merger of VEBA and VIAG); restructured 2016-2019 · Integrated utility

Leader: Leonhard Birnbaum, Chief Executive Officer

Leadership: Chair: Karl-Ludwig Kley, Chairman of the Supervisory Board President / COO: No separate President/COO title published; Management Board members head Energy Networks, Customer Solutions and corporate functions CFO: Nadia Jakobi, Chief Financial Officer (member of the Management Board) Other C-suite: Management Board published at eon.com, including the board members for Energy Networks (Thomas König) and Customer Solutions, and the heads of commercial and corporate functions as published Senior leadership: Management Board and Supervisory Board published at eon.com/en/about-us/management, verified Oct 2026

Business: Transmission and distribution — electricity and gas distribution networks (Energy Networks) are the core business; retail electricity and gas supply and customer solutions (Customer Solutions); generation only in residual and customer-sited forms since the Uniper split and innogy swap

Customers: About 47 million customers across its European networks and retail businesses (company reporting, 2024)

Scale: Revenue €80.1 billion, FY2024 (E.ON annual report 2024; sales include energy taxes and network charges as reported under IFRS presentation)

Generation & capacity: E.ON is deliberately not a large generator: its published mix is dominated by the electricity it distributes and retails, sourced from the market; own generation is limited and not presented as a fleet mix in its annual report — stated as published Capacity: Own large-scale generation capacity not published as a headline figure since the networks refocus — Not disclosed as a fleet total; the relevant scale figure is about 1.6 million km of energy networks (company reporting, 2024)

Footprint: Germany, Sweden, the United Kingdom (E.ON UK retail), the Netherlands, Belgium, Poland, Czechia, Slovakia, Hungary, Romania, Croatia and Türkiye (networks joint venture)

Structure: Ownership: Publicly traded (Xetra: EOAN); widely held; RWE retained a minority stake from the asset swap as disclosed in earlier filings Access: Predominantly regulated: German and European distribution networks earn regulator-set returns (Bundesnetzagentur and national regulators); retail supply is competitive and reached through E.ON country brands. Headquarters: E.ON-Platz 1, 40479 Düsseldorf, Germany (registered office Brüsseler Platz 1, Essen, as published)

Website: www.eon.com · Contact: Phone: Not published · Email: Not published

Formed in 2000 from VEBA and VIAG; split its fossil and trading businesses into Uniper in 2016, then in the 2018-19 RWE asset swap took over RWE's innogy networks and retail businesses, becoming a networks-and-customer-solutions group. The purest large-scale bet on distribution networks in Europe: E.ON earns its return from wires, meters and retail customer solutions rather than power stations. Birnbaum became CEO in 2021. The E.ON / RWE asset swap remains the defining European utility restructuring of the past decade and explains both companies' entries in this guide.

Sources: E.ON annual report FY2024 and management pages (eon.com), Oct 2026

7. CLP HOLDINGS LIMITED — HONG KONG, CHINA (HONG KONG SAR)

Founded 1901 · Integrated utility

Leader: Chiang Tung Keung, Chief Executive Officer (since 1 October 2023)

Leadership: Chair: Sir Michael Kadoorie, Chairman President / COO: No separate President/COO title published; managing directors head CLP Power Hong Kong, EnergyAustralia and CLP China as published by the group CFO: Nicolas Alain Marie Tissot, Chief Financial Officer Other C-suite: Group executive committee published at clpgroup.com, including the heads of CLP Power Hong Kong, EnergyAustralia, strategy, sustainability and legal Senior leadership: Board and senior management published at clpgroup.com/about/management, verified Oct 2026

Business: Generation (coal, gas, nuclear through the Daya Bay joint venture, hydro, wind and solar); transmission; distribution; retail electricity supply in Hong Kong and Australia; energy services

Customers: CLP Power Hong Kong supplies about 2.7 million customer accounts (about 6 million people, roughly 80% of Hong Kong's population); EnergyAustralia serves about 2.4 million residential and business accounts (company reporting, 2024)

Scale: Revenue HK$90.96 billion, FY2024 (CLP Holdings annual report 2024)

Generation & capacity: Coal and gas remain material in Hong Kong and Australia, with nuclear (Daya Bay imports) and a growing wind, solar and hydro portfolio in mainland China and India; CLP publishes its generation mix by asset in its annual and sustainability reports, dated there Capacity: About 19 GW of generation capacity on an equity basis across the portfolio (company reporting, 2024; gross/operated basis is higher and is published asset by asset)

Footprint: Hong Kong, mainland China, Australia, India, Thailand, Vietnam and Taiwan

Structure: Ownership: Publicly traded (HKEX: 2); the Kadoorie family is the largest shareholder bloc, at about 35% as published in annual reports Access: In Hong Kong CLP operates under the Scheme of Control, a regulated permitted-return framework with the HKSAR Government; in Australia it competes in the National Electricity Market through EnergyAustralia retail and generation. Headquarters: 147 Argyle Street, Mong Kok, Kowloon, Hong Kong

Website: www.clpgroup.com · Contact: Phone: Not published · Email: Not published

Founded in Hong Kong in 1901 as China Light & Power; built Hong Kong's electricity supply through the twentieth century and expanded from the 1990s into mainland China, India, Australia (EnergyAustralia), Southeast Asia and Taiwan. One of Asia's oldest investor-owned utilities, still chaired by the founding Kadoorie family, and the operator of Hong Kong's vertically integrated supply under a Scheme of Control agreement with the Hong Kong government. Chiang succeeded Richard Lancaster as CEO in October 2023, the first Chinese CEO of CLP Power's parent in its modern history as reported at his appointment.

Sources: CLP Holdings annual report FY2024 and management pages (clpgroup.com), Oct 2026

8. SSE PLC — PERTH, UNITED KINGDOM

Founded 1998 (merger of Scottish Hydro-Electric and Southern Electric) · Integrated utility

Leader: Martin Pibworth, Chief Executive (since the conclusion of the AGM on 17 July 2025)

Leadership: Chair: Sir John Manzoni, Chair President / COO: No separate President/COO title published; Group Executive Committee heads SSEN Transmission, SSEN Distribution, SSE Renewables, SSE Thermal and Energy Markets CFO: Barry O'Regan, Chief Financial Officer Other C-suite: Group Executive Committee published at sse.com, including the managing directors of SSEN Transmission and Distribution, SSE Renewables and SSE Thermal Senior leadership: Board and Group Executive Committee published at sse.com/about-us/leadership, verified Oct 2026

Business: Transmission (SSEN Transmission, northern Scotland); distribution (SSEN Distribution, northern Scotland and southern England); generation — renewables (onshore and offshore wind, hydro including pumped storage) and flexible thermal (gas, and the Aldbrough gas storage interest); retail supply to business customers (SSE Energy Solutions); energy markets and trading

Customers: SSEN Distribution serves about 3.9 million homes and businesses across its two GB licence areas; SSE's retail activity is now business-only in GB, plus Airtricity supply in Ireland (company reporting, 2025)

Scale: Revenue £10.13 billion, FY2024/25 (year ended 31 Mar 2025, SSE annual report 2025)

Generation & capacity: Wind and hydro dominate SSE's own output, with gas-fired flexible generation for system balancing; SSE describes itself as the UK and Ireland's clean-energy champion and publishes output by technology in its annual report Capacity: About 11.9 GW of generation capacity including pumped storage, plus about 4 GW of renewables in construction or development at reporting dates in 2025 (company reporting)

Footprint: United Kingdom and Ireland, with renewables development expanding into continental Europe and Japan through partnerships

Structure: Ownership: Publicly traded (LSE: SSE); widely held Access: Networks are price-controlled by Ofgem (RIIO framework); generation sells into wholesale and Contracts for Difference arrangements; business customers contract through SSE Energy Solutions and Irish customers through SSE Airtricity. Headquarters: Inveralmond House, 200 Dunkeld Road, Perth PH1 3AQ, United Kingdom

Website: www.sse.com · Contact: Phone: Not published · Email: Not published

Formed in 1998 as Scottish and Southern Energy from Scottish Hydro-Electric and Southern Electric; sold its GB household retail business to OVO Energy in 2020 and refocused on regulated networks, renewables and flexible generation. The Perth-headquartered owner of both a GB transmission and distribution network and the Beatrice and Dogger Bank offshore wind positions — networks and renewables in one FTSE balance sheet. Pibworth, at SSE since 1998 and previously Chief Commercial Officer, succeeded Alistair Phillips-Davies in July 2025 after a competitive process led by the Chair (SSE announcement, Mar 2025).

Sources: SSE annual report FY2024/25, CEO succession announcement Mar 2025 and leadership pages (sse.com), Oct 2026

9. CENTRICA PLC — WINDSOR, UNITED KINGDOM

Founded 1812 (Gas Light and Coke Company origins); Centrica formed 1997 · Integrated utility

Leader: Chris O'Shea, Group Chief Executive

Leadership: Chair: Scott Wheway, Chair President / COO: No separate President/COO title published; divisional chief executives head British Gas Energy, British Gas Services & Solutions, Energy Marketing & Trading, and Centrica Energy Assets CFO: Russell O'Brien, Group Chief Financial Officer Other C-suite: Group Executive Committee published at centrica.com, including the heads of British Gas businesses, trading, legal and people functions Senior leadership: Board and executive committee published at centrica.com/about-us/leadership, verified Oct 2026

Business: Retail electricity and gas supply (British Gas, the UK's largest household energy supplier; Bord Gáis Energy in Ireland); generation — interests in UK nuclear output, gas peaking and battery storage, and Rough gas storage; transmission and distribution — not a network owner (uses GB networks); energy marketing and trading; home services and net-zero installations (heat pumps, EV, Hive)

Customers: British Gas serves about 10 million households and about 500,000 business customers in the UK (company reporting, 2024); Bord Gáis Energy serves customers in Ireland

Scale: Revenue £24.6 billion, FY2024 (Centrica annual report 2024)

Generation & capacity: Centrica's own generation interests are gas-fired peaking, battery storage and its share of UK nuclear output through its British Energy stake arrangements; most retail electricity is purchased in wholesale markets — the annual report states the basis Capacity: About 1.5 GW of owned/controlled flexible generation and storage capacity plus its nuclear share, as published in company reporting for 2024 — small beside the integrated generators in this guide, by design of its asset-light model

Footprint: United Kingdom and Ireland, with trading and LNG activities internationally

Structure: Ownership: Publicly traded (LSE: CNA); widely held Access: Competitive retail posture: customers choose British Gas in the open GB market under Ofgem's price-cap framework for default tariffs; Centrica owns no regulated networks. Headquarters: Millstream, Maidenhead Road, Windsor, Berkshire SL4 5GD, United Kingdom

Website: www.centrica.com · Contact: Phone: Not published · Email: Not published

Centrica was demerged from British Gas in 1997, taking the British Gas trading, supply and upstream businesses; it later owned and exited North American retail (Direct Energy, sold 2021) and now centres on British Gas supply, services, and energy assets including a 20% stake in British Energy's successor nuclear fleet arrangements and Rough gas storage. The supplier, not the wires: Centrica's British Gas is the household name of UK energy retail, and its balance sheet is built on customers, trading and flexibility rather than networks. O'Shea became Group CEO in 2020 after serving as CFO. Centrica restarted Rough gas storage in 2022, a nationally significant flexibility asset.

Sources: Centrica annual report FY2024 and leadership pages (centrica.com), Oct 2026

10. AGL ENERGY LIMITED — SYDNEY, AUSTRALIA

Founded 1837 (Australian Gas Light Company) · Integrated utility

Leader: Damien Nicks, Managing Director and Chief Executive Officer

Leadership: Chair: Miles George, Chair (as published in AGL's 2025 board reporting; succeeded Patricia McKenzie) President / COO: No separate President title published; Chief Operating Officer role is held within the executive team as published at agl.com.au CFO: Gary Brown, Chief Financial Officer Other C-suite: Executive team published at agl.com.au, including the heads of customer markets, operations and transition, technology and legal Senior leadership: Board and executive team published at agl.com.au/about-agl/who-we-are, verified Oct 2026

Business: Generation (coal — Loy Yang A and Bayswater; gas; hydro; wind and solar under contract and ownership; batteries); retail electricity and gas supply to households and business; no transmission or distribution network ownership; energy services and virtual power plant / orchestration

Customers: About 4.5 million customer services (electricity, gas and connected services) across Australia (company reporting, FY2025)

Scale: Revenue A$14.4 billion, FY2024/25 (year ended 30 Jun 2025, AGL annual report 2025)

Generation & capacity: Coal still supplied the majority of AGL's own generation in FY2025, with gas, hydro, wind and solar and a rapidly growing battery portfolio; AGL publishes output and emissions by plant in its annual and ESG reporting Capacity: About 12 GW of operated generation capacity, the largest private portfolio in Australia's National Electricity Market (company reporting, 2025)

Footprint: Australia — National Electricity Market states (New South Wales, Victoria, Queensland, South Australia, Tasmania interconnection) and Western Australian retail

Structure: Ownership: Publicly traded (ASX: AGL); widely held; activist investor Grok Ventures / Mike Cannon-Brookes interests have held a significant stake as disclosed to ASX Access: Competitive/merchant posture in the National Electricity Market: generation is dispatched through AEMO and retail customers choose AGL in contestable markets; AGL owns no regulated networks. Headquarters: Level 24, 200 George Street, Sydney, NSW 2000, Australia

Website: www.agl.com.au · Contact: Phone: Not published · Email: Not published

Founded in Sydney in 1837 as the Australian Gas Light Company, one of Australia's oldest companies; became AGL Energy in 2006 and for decades operated the country's largest coal and gas generation portfolio alongside a mass-market retail business; now executing a transition plan closing Loy Yang A by 2035 as announced. Australia's original gas-light company is now the test case for retiring a giant coal fleet while keeping 4.5 million retail customers supplied — the transition, run in public, in one company. Chair succession from Patricia McKenzie to Miles George is carried as published in AGL's recent board reporting; readers should confirm the current chair on agl.com.au at time of use — see Named Gaps. Nicks became CEO in 2023 after an interim period.

Sources: AGL annual report FY2025 and board/executive pages (agl.com.au), Oct 2026

11. AXIA ENERGIA S.A. (FORMERLY ELETROBRAS) — RIO DE JANEIRO, BRAZIL

Founded 1962 · Integrated utility

Leader: Ivan de Souza Monteiro, Chief Executive Officer (in office; a planned succession to Élio Wolff was announced to run to April 2027, with Wolff in a temporary executive vice-presidency from June 2026, per company reporting in 2026)

Leadership: Chair: Vicente Falconi, Chairman of the Board (named as Chairman in the AXIA Energia 2025 Management Report) President / COO: Élio Wolff, Executive Vice President for the transition structure (from June 2026, per the announced succession plan); operating vice-presidencies report through the structure described in company releases CFO: Eduardo Haiama, Vice President, Finance and Investor Relations (as published in company reporting) Other C-suite: Vice-presidents for operations and safety, engineering and projects, energy trading and solutions, regulation and institutional affairs, legal and governance, sustainability, people and services, and technology and innovation, as published by the company Senior leadership: Board and executive board published in the AXIA Energia Management Report 2025 and at the company investor-relations site, verified Oct 2026

Business: Generation — predominantly hydroelectric, plus wind and solar, through the former Eletrobras regional subsidiaries (Norte, Nordeste/Chesf, Sul and Furnas heritage businesses); transmission — one of Brazil's largest transmission portfolios; retail/commercialisation — energy trading and solutions for free-market customers; nuclear — the Eletronuclear stake was divested in 2025 as reported by the company

Customers: Distribution companies, large industrial free-market consumers and traders across Brazil's National Interconnected System; Axia does not serve household retail customers directly — categories as published in its management report

Scale: Revenue R$40.0 billion approx., FY2024 (Eletrobras/Axia consolidated results 2024; exact basis in the company's financial statements)

Generation & capacity: Overwhelmingly hydroelectric, with wind and solar growing and thermal exited: the company reported achieving a 100% renewable generation portfolio after the 2025 thermal and nuclear divestments, as published in its 2025 reporting Capacity: About 44 GW of installed generation capacity operated, and about 51 GW including stakes in jointly controlled assets (company reporting, 2025; bases differ and are stated here as published)

Footprint: Brazil nationwide, through generation assets in all regions and about 73,000 km of transmission lines in the National Interconnected System (company reporting)

Structure: Ownership: Publicly traded (B3: AXIA3/5/6; NYSE: AXIA); widely held with the Brazilian federal government retaining a significant minority and golden-share arrangements as established in the 2022 privatisation law Access: Mixed Brazilian model: transmission earns regulated permitted revenue under ANEEL concessions, generation sells into regulated auctions and the free (ACL) market; household customers are reached only indirectly, through distributors. Headquarters: Rua da Quitanda, 196, Rio de Janeiro, RJ 20091-005, Brazil

Website: www.axia.com.br (formerly eletrobras.com) · Contact: Phone: Not published · Email: Not published

Created by the Brazilian federal government in 1962 as Centrais Elétricas Brasileiras (Eletrobras); privatised in June 2022 through a capitalisation that reduced the federal stake below control; renamed Axia Energia in October 2025, with B3 tickers changing to AXIA3/5/6 in November 2025. Latin America's biggest power utility by capacity and the Southern Hemisphere's largest renewable generator by its own reporting — and the only company in this guide to have moved from state utility to privatised integrated utility within the guide's own recent history. The 2025 rename to Axia Energia and the 2026-27 CEO succession plan are both carried with their dates; Monteiro remains CEO until April 2027 under the announced plan. The federal government's remaining rights are set out in the privatisation legislation.

Sources: AXIA Energia Management Report 2025; company releases on the 2025 rename and 2026 CEO succession plan; Eletrobras FY2024 results, Oct 2026

REGULATED UTILITY

12. DUKE ENERGY CORPORATION — CHARLOTTE, NORTH CAROLINA, UNITED STATES

Founded 1904 (Catawba Power Company origins) · Regulated utility

Leader: Harry K. Sideris, President and Chief Executive Officer (since 1 April 2025)

Leadership: Chair: Theodore (Ted) Craver, Independent Chair of the Board (since 1 April 2025) President / COO: President role held by Harry K. Sideris; executive vice presidents head regulated utilities operations, customer experience, generation and commercial businesses as published by Duke Energy CFO: Brian Savoy, Executive Vice President and Chief Financial Officer Other C-suite: Executive leadership team published at duke-energy.com, including the heads of regulated operations, nuclear, customer solutions, legal, external affairs and human resources Senior leadership: Executive team and Board published at duke-energy.com/about-us/leadership, verified Oct 2026 — including the September 2026 board appointment announced by the company

Business: Generation (nuclear, natural gas, coal in retirement, hydro, solar and storage); transmission; distribution; retail regulated electricity and natural gas distribution (Piedmont Natural Gas); no material merchant generation — Duke describes itself as a fully regulated utility

Customers: About 8.6 million electric customers across six states and about 1.7 million natural gas customers (company reporting, 2024-25)

Scale: Revenue US$29.7 billion, FY2024 (year ended 31 Dec 2024, Duke Energy Form 10-K)

Generation & capacity: Nuclear and natural gas are the largest sources, with coal declining, plus hydro, solar and storage; Duke publishes its generation mix by state utility in its climate and 10-K reporting Capacity: About 57 GW of owned generating capacity (company reporting, 2024)

Footprint: Electric service in North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky; gas distribution in the Carolinas, Tennessee, Ohio and Kentucky

Structure: Ownership: Publicly traded (NYSE: DUK); widely held Access: Fully rate-regulated: state commissions in six states set rates; customers reach Duke through its state utility brands and service centres; there is no competitive retail choice in its core electric territories. Headquarters: Duke Energy Plaza, 525 South Tryon Street, Charlotte, NC 28202, United States

Website: www.duke-energy.com · Contact: Phone: Not published · Email: Not published

Roots in the Catawba Power Company (1904) and Southern Power / Duke Power built by James B. Duke; the modern Duke Energy was reshaped by the Cinergy (2006), Progress Energy (2012) mergers, becoming one of the largest U.S. regulated utilities; it exited international and merchant businesses to become fully regulated. The textbook fully-regulated U.S. utility: six state regulatory relationships, a large nuclear fleet, and growth driven by Southeast population and data-centre load rather than merchant markets. Sideris, a 29-year company veteran, succeeded Lynn Good on 1 April 2025; Good retired as Chair and CEO and lead independent director Ted Craver became independent Chair (Duke Energy release, Jan 2025).

Sources: Duke Energy Form 10-K FY2024; CEO succession release Jan 2025 and leadership pages (duke-energy.com), Oct 2026

13. EXELON CORPORATION — CHICAGO, ILLINOIS, UNITED STATES

Founded 2000 (merger of PECO Energy and Unicom); transmission & distribution-only since 2022 · Regulated utility

Leader: Calvin G. Butler Jr., President and Chief Executive Officer

Leadership: Chair: John F. Young, Chair of the Board (as published on Exelon's board pages) President / COO: No single COO title published at holding-company level; utility CEOs head ComEd, PECO, Baltimore Gas and Electric, Pepco, Delmarva Power and Atlantic City Electric as published by Exelon CFO: Jeanne M. Jones, Executive Vice President and Chief Financial Officer Other C-suite: Executive team published at exeloncorp.com, including the heads of strategy, legal, human resources, and the six utility chief executives Senior leadership: Board and executive team published at exeloncorp.com/leadership, verified Oct 2026

Business: Transmission and distribution only since 2022: electricity distribution, gas distribution (BGE, PECO, Delmarva), and regulated transmission (including ITC-style formula-rate transmission through its utilities); retail supply is provided as regulated default service, not merchant generation; no generation fleet

Customers: More than 10.7 million utility customers across its six utilities (company reporting, 2024-25): ComEd (Illinois), PECO (Pennsylvania), BGE (Maryland), Pepco (District of Columbia and Maryland), Delmarva Power and Atlantic City Electric

Scale: Revenue US$23.0 billion, FY2024 (year ended 31 Dec 2024, Exelon Form 10-K)

Generation & capacity: No generation mix: Exelon owns no power stations since the 2022 Constellation separation; electricity distributed is procured from markets and suppliers — stated plainly as the defining fact of this entry Capacity: Installed generation capacity: none owned (0 GW) since 1 Feb 2022 — see Generation note; distribution scale is about 10.7 million customers and extensive T&D networks published utility by utility

Footprint: Illinois, Pennsylvania, Maryland, District of Columbia, Delaware and New Jersey service territories

Structure: Ownership: Publicly traded (Nasdaq: EXC); widely held Access: Fully rate-regulated by the Illinois, Pennsylvania, Maryland, DC, Delaware and New Jersey commissions and by FERC for transmission; customers reach Exelon only through its six named utilities. Headquarters: 10 South Dearborn Street, Chicago, IL 60603, United States

Website: www.exeloncorp.com · Contact: Phone: Not published · Email: Not published

Formed in 2000 from Philadelphia's PECO and Chicago's Unicom (ComEd); built a large generation fleet, then on 1 February 2022 separated that fleet as Constellation Energy, leaving Exelon purely a regulated transmission and distribution utility holding company. The largest purely regulated T&D utility in the United States by customers — and, paired with Constellation in this guide, one half of the most consequential U.S. utility separation of the century so far. Butler became CEO in 2023, succeeding Christopher Crane. Exelon and Constellation entries in this guide should be read together: same ancestry, opposite postures since 2022.

Sources: Exelon Form 10-K FY2024 and leadership pages (exeloncorp.com), Oct 2026

14. PG&E CORPORATION — OAKLAND, CALIFORNIA, UNITED STATES

Founded 1905 (Pacific Gas and Electric Company) · Regulated utility

Leader: Patricia K. (Patti) Poppe, Chief Executive Officer, PG&E Corporation

Leadership: Chair: Robert C. Flexon, Chair of the Board, PG&E Corporation (as published on the company board pages) President / COO: President, PG&E Corporation role and utility leadership: the utility (Pacific Gas and Electric Company) executive team is published at pge.com, headed by its president and chief operating officer functions for electric and gas operations as published CFO: Carolyn Burke, Executive Vice President and Chief Financial Officer Other C-suite: Executive officers published at pge.com, including the heads of electric operations, gas operations, wildfire and emergency operations, legal and people functions Senior leadership: Boards of PG&E Corporation and the utility and their executive officers published at pge.com/about/leadership, verified Oct 2026

Business: Generation — owned hydroelectric fleet, the Diablo Canyon nuclear plant, gas, solar and battery storage, plus contracted power; transmission (FERC-regulated); distribution of electricity and natural gas; retail regulated supply to northern and central California

Customers: About 16 million people served, through about 5.5 million electric customer accounts and about 4.6 million natural gas accounts (company reporting, 2024)

Scale: Revenue US$24.4 billion, FY2024 (year ended 31 Dec 2024, PG&E Corporation Form 10-K)

Generation & capacity: Nuclear (Diablo Canyon), hydro, natural gas, solar and storage in its owned fleet, with a California system mix dominated by renewables, nuclear and hydro as published in PG&E's power content label and 10-K reporting Capacity: About 7.4 GW of owned generation capacity (company reporting, 2024), within a 70,000-square-mile service area supplied also by contracted resources

Footprint: Northern and central California — about 70,000 square miles, from Bakersfield to the Oregon border

Structure: Ownership: Publicly traded (NYSE: PCG); widely held; the PG&E Fire Victim Trust held a large stake on emergence in 2020 and has sold down as published in filings Access: Fully rate-regulated by the California Public Utilities Commission (and FERC for transmission); customers have no alternative distribution provider and reach PG&E directly; generation procurement is regulated, not merchant-choice, for bundled customers. Headquarters: 300 Lakeside Drive, Oakland, CA 94612, United States

Website: www.pge.com · Contact: Phone: Not published · Email: Not published

Pacific Gas and Electric Company was formed in 1905 from California predecessors reaching back to 1852; its utility, Pacific Gas and Electric Company, is one of the largest U.S. combination utilities; the group passed through Chapter 11 in 2019-20 after wildfire liabilities and emerged under a state framework (AB 1054) with a continuing wildfire-mitigation and undergrounding programme. The utility at the centre of California's wildfire era: operator of Diablo Canyon — extended by state and federal action beyond its planned closure — and of a 10,000-mile undergrounding programme, under permanent regulatory scrutiny. Poppe became CEO in 2021, after leading CMS Energy. Diablo Canyon's extended operation to 2029-30 under California law and its federal licence-renewal process are the defining current regulatory facts.

Sources: PG&E Corporation Form 10-K FY2024 and leadership pages (pge.com), Oct 2026

15. AMERICAN ELECTRIC POWER COMPANY, INC. (AEP) — COLUMBUS, OHIO, UNITED STATES

Founded 1906 (American Gas and Electric Company) · Regulated utility

Leader: William J. (Bill) Fehrman, Chairman, President and Chief Executive Officer (CEO since August 2024; Chair since 31 July 2025)

Leadership: Chair: William J. Fehrman, Chair of the Board (from 31 Jul 2025; Sara Martinez Tucker became Lead Director) President / COO: President role held by Bill Fehrman; executive vice presidents head AEP's regulated operations, transmission and generation businesses as published by AEP CFO: Trevor I. Mihalik, Executive Vice President and Chief Financial Officer Other C-suite: Executive team published at aep.com, including the general counsel and corporate secretary, chief accounting officer and operating-company presidents Senior leadership: Board and executive team published at aep.com/about/leadership, verified Oct 2026

Business: Generation (coal, natural gas, nuclear — Cook Plant — hydro, wind and solar, owned and contracted); transmission — the largest network in the United States, about 40,000 miles; distribution; retail regulated supply through seven operating companies; competitive contracted renewables and services (AEP Energy Supply)

Customers: About 5.6 million customers in 11 states (company reporting, 2024-25)

Scale: Revenue US$19.7 billion, FY2024 (year ended 31 Dec 2024, AEP Form 10-K)

Generation & capacity: Coal and natural gas remain the largest owned-generation sources, with nuclear, hydro, wind and solar; AEP publishes fuel mix and its coal-retirement schedule in its 10-K and corporate accountability reporting Capacity: About 29 GW of generating capacity, owned and under contract (company reporting, 2024)

Footprint: Arkansas, Indiana, Kentucky, Louisiana, Michigan, Ohio, Oklahoma, Tennessee, Texas, Virginia and West Virginia

Structure: Ownership: Publicly traded (Nasdaq: AEP); widely held Access: Predominantly rate-regulated by eleven state commissions and FERC; customers reach AEP through named operating companies (Ohio Power, Appalachian Power, Indiana Michigan Power, PSO, SWEPCO, AEP Texas, Kentucky Power). Headquarters: 1 Riverside Plaza, Columbus, OH 43215, United States

Website: www.aep.com · Contact: Phone: Not published · Email: Not published

Founded in 1906 as American Gas and Electric, renamed American Electric Power in 1958; built the largest U.S. transmission system and a multi-state regulated utility group, and has been retiring coal while adding contracted renewables and transmission for data-centre and industrial load growth. America's transmission utility: 40,000 miles of transmission — more than any other U.S. company — now being expanded for the data-centre load arriving in Ohio, Texas and Indiana. Fehrman, formerly CEO of Berkshire Hathaway Energy and Centuri, succeeded Julie Sloat in August 2024 and added the chairmanship on 31 July 2025 (AEP announcements). AEP's five-year capital plan was raised to US$72 billion in its 2025 reporting.

Sources: AEP Form 10-K FY2024; AEP board-chair transition reporting Jul 2025 and leadership pages (aep.com), Oct 2026

16. XCEL ENERGY INC. — MINNEAPOLIS, MINNESOTA, UNITED STATES

Founded 1909 (Northern States Power origins) · Regulated utility

Leader: Robert C. (Bob) Frenzel, Chairman, President and Chief Executive Officer

Leadership: Chair: Robert C. Frenzel, Chairman of the Board President / COO: President role held by Bob Frenzel; presidents head the four operating companies (Northern States Power-Minnesota, NSP-Wisconsin, Public Service Co. of Colorado, Southwestern Public Service) as published by Xcel CFO: Brian J. Van Abel, Executive Vice President and Chief Financial Officer Other C-suite: Executive team published at xcelenergy.com, including the heads of operations, customer, legal, strategy and the nuclear fleet (Monticello and Prairie Island) Senior leadership: Board and executive team published at xcelenergy.com/company/leadership, verified Oct 2026

Business: Generation (wind — among the largest utility wind owners in the U.S. — nuclear, natural gas, coal in scheduled retirement, hydro and solar); transmission; distribution; retail regulated electricity and natural gas supply

Customers: About 3.9 million electricity customers and about 2.2 million natural gas customers (company reporting, 2024)

Scale: Revenue US$13.4 billion, FY2024 (year ended 31 Dec 2024, Xcel Energy Form 10-K)

Generation & capacity: Wind is Xcel's largest generation source by output in recent reporting, ahead of nuclear, natural gas and declining coal; the company publishes its mix and carbon-reduction trajectory (85% reduction target by 2030 from 2005) in its annual reporting Capacity: About 22 GW of owned generating capacity (company reporting, 2024)

Footprint: Eight states: Colorado, Minnesota, Wisconsin, Michigan, North Dakota, South Dakota, New Mexico and Texas

Structure: Ownership: Publicly traded (Nasdaq: XEL); widely held Access: Fully rate-regulated by eight state commissions; customers reach Xcel through its operating companies; no merchant fleet of consequence. Headquarters: 414 Nicollet Mall, Minneapolis, MN 55401, United States

Website: www.xcelenergy.com · Contact: Phone: Not published · Email: Not published

Built from Northern States Power (1909) and Public Service Company of Colorado; the holding company took the Xcel Energy name in 2000 after the Northern States Power / New Century Energies merger; an early and vocal mover on wind generation in the U.S. Midwest and Plains. The wind utility of the American interior: Xcel built its identity on contracted and owned wind across the Plains a decade before it was fashionable, while still operating two nuclear plants in Minnesota. Frenzel became CEO in 2021. Xcel's Colorado and Minnesota resource plans, with coal retirements and large wind, solar, storage and gas additions, are its defining regulatory programmes.

Sources: Xcel Energy Form 10-K FY2024 and leadership pages (xcelenergy.com), Oct 2026

17. DOMINION ENERGY, INC. — RICHMOND, VIRGINIA, UNITED STATES

Founded 1983 (holding company; Virginia Power origins 1909) · Regulated utility

Leader: Robert M. (Bob) Blue, Chair, President and Chief Executive Officer

Leadership: Chair: Robert M. Blue, Chair of the Board President / COO: President role held by Bob Blue; Edward H. Baine serves as President — Dominion Energy Virginia / Utility Operations as published by the company CFO: Steven L. Ridge, Executive Vice President and Chief Financial Officer (appointed 2024, as published by Dominion Energy) Other C-suite: Executive team published at dominionenergy.com, including the heads of Dominion Energy Virginia, Dominion Energy South Carolina, operations, legal and the offshore wind programme Senior leadership: Board and executive team published at dominionenergy.com/about/leadership, verified Oct 2026

Business: Generation (nuclear — North Anna, Surry and Millstone — natural gas, coal in retirement, hydro including pumped storage, solar, and offshore wind under construction); transmission; distribution; retail regulated electricity in Virginia and the Carolinas and regulated gas distribution in its remaining gas utilities (including South Carolina and Utah arrangements as published)

Customers: About 3.6 million electricity customer accounts in Virginia and the Carolinas and gas customers in its gas service territories — about 7 million customer accounts in total as described in company reporting (2024)

Scale: Revenue US$14.5 billion, FY2024 (year ended 31 Dec 2024, Dominion Energy Form 10-K)

Generation & capacity: Nuclear and natural gas are the largest sources, with coal retired or retiring, plus hydro, solar and the 2.6 GW Coastal Virginia Offshore Wind project under construction; mix published in Dominion's 10-K and sustainability reporting Capacity: About 30 GW of generating capacity including contracted and offshore wind under construction on the basis published by the company (2024)

Footprint: Virginia, North and South Carolina as the core regulated electric footprint, with Millstone nuclear in Connecticut and gas utility territories as published

Structure: Ownership: Publicly traded (NYSE: D); widely held Access: Rate-regulated principally by the Virginia State Corporation Commission and the North and South Carolina commissions; customers reach Dominion through its state utilities; offshore wind cost recovery is regulated in Virginia. Headquarters: 120 Tredegar Street, Richmond, VA 23219, United States

Website: www.dominionenergy.com · Contact: Phone: Not published · Email: Not published

The Virginia Electric and Power Company (1909) became the core of Dominion Resources in 1983; after two decades in merchant energy and gas, Dominion sold its gas transmission and storage (to Berkshire Hathaway Energy, 2020) and Questar businesses and refocused as a regulated electric utility centred on Virginia, including the Coastal Virginia Offshore Wind project. The utility building America's largest offshore wind farm (Coastal Virginia Offshore Wind, 2.6 GW) while supplying the world's largest data-centre market in northern Virginia. Blue became CEO in 2020, succeeding Thomas Farrell after Farrell's death in 2021 period transition as recorded in company history. Dominion completed a multi-year business review in 2024, exiting gas distribution stakes in several states.

Sources: Dominion Energy Form 10-K FY2024 and leadership pages (dominionenergy.com), Oct 2026

18. SEMPRA — SAN DIEGO, CALIFORNIA, UNITED STATES

Founded 1998 (merger of Pacific Enterprises and Enova) · Regulated utility

Leader: Jeffrey W. Martin, Chairman and Chief Executive Officer

Leadership: Chair: Jeffrey W. Martin, Chairman of the Board President / COO: No single group President/COO title published; platform presidents head Sempra California (SDG&E and SoCalGas), Oncor and Sempra Infrastructure as published by Sempra CFO: Karen L. Sedgwick, Executive Vice President and Chief Financial Officer Other C-suite: Executive team published at sempra.com, including the group presidents for California, Texas utilities and Infrastructure, and legal, strategy and people heads Senior leadership: Board and executive team published at sempra.com/about-us/leadership, verified Oct 2026

Business: Transmission and distribution — electricity and gas distribution in California (SDG&E, SoCalGas) and electricity transmission and distribution in Texas through Oncor; generation — SDG&E-owned and contracted resources and Sempra Infrastructure generation in Mexico; retail regulated supply; LNG and energy infrastructure (Port Arthur LNG, Cameron LNG interests)

Customers: About 40 million consumers served across its utilities and infrastructure (company reporting, 2024): SDG&E about 3.6 million metered consumers, SoCalGas more than 21 million consumers, Oncor about 13 million Texans

Scale: Revenue US$13.2 billion, FY2024 (year ended 31 Dec 2024, Sempra Form 10-K)

Generation & capacity: Sempra is primarily a wires-and-pipes group: its utilities procure and generate power dominated by natural gas, renewables and nuclear (San Onofre share historically) in California market reporting; Oncor owns no generation — mix stated on that basis as published Capacity: Owned generation capacity is modest beside its networks and is published platform by platform; the group's scale figure is its customer and network reach (about 40 million consumers) rather than a fleet GW total — Not disclosed as a single group GW figure

Footprint: California and Texas as core utility states; LNG and infrastructure in Louisiana, Texas and Mexico

Structure: Ownership: Publicly traded (NYSE: SRE); widely held; majority owner (about 80%) of Oncor Electric Delivery, Texas Access: Rate-regulated in California (CPUC) and Texas (PUCT, for Oncor); LNG and Mexican infrastructure are contracted/merchant businesses reached commercially, not by retail customers. Headquarters: 488 Eighth Avenue, San Diego, CA 92101, United States

Website: www.sempra.com · Contact: Phone: Not published · Email: Not published

Formed in 1998 from the parents of San Diego Gas & Electric and Southern California Gas; built and later simplified an international portfolio, and now runs three platforms: Sempra California, Sempra Texas (majority owner of Oncor) and Sempra Infrastructure (LNG and Mexican energy infrastructure). The only company in this guide whose largest assets are a California gas network, a Texas wires company and Gulf Coast LNG export terminals at once. Martin became CEO in 2018 and Chairman in 2019. Sempra announced in 2025 an agreement to sell a minority stake in Sempra Infrastructure Partners as part of its simplification and capital plan, as reported by the company.

Sources: Sempra Form 10-K FY2024 and leadership pages (sempra.com), Oct 2026

GENERATION & MERCHANT

19. CONSTELLATION ENERGY CORPORATION — BALTIMORE, MARYLAND, UNITED STATES

Founded 2022 (separated from Exelon; generation origins in Baltimore Gas and Electric, 1816, and the Exelon Generation fleet) · Generation & merchant

Leader: Joseph Dominguez, President and Chief Executive Officer

Leadership: Chair: Robert J. Lawless, Chair of the Board (as published on Constellation's board pages) President / COO: President role held by Joseph Dominguez; executive vice presidents head the nuclear fleet, generation and commercial/retail businesses as published by Constellation CFO: Daniel L. Eggers, Executive Vice President and Chief Financial Officer Other C-suite: Executive team published at constellationenergy.com, including the chief nuclear officer, the head of Constellation Power and the retail/commercial leadership Senior leadership: Board and executive team published at constellationenergy.com/about-us/leadership, verified Oct 2026

Business: Generation — nuclear, natural gas, hydro, wind and solar, owned and operated merchant fleet; retail electricity and natural gas supply to homes and businesses in competitive markets; wholesale marketing and trading; no regulated transmission or distribution networks

Customers: Constellation serves about 16 million homes and businesses through its generation output and retail supply relationships as described in company reporting, including about 2 million retail customers (company reporting, 2024-25; bases stated there)

Scale: Revenue US$23.6 billion, FY2024 (year ended 31 Dec 2024, Constellation Energy Form 10-K)

Generation & capacity: Nuclear supplies the large majority of Constellation's own output (its fleet runs at capacity factors above 94% in recent reporting), with natural gas, hydro, wind and solar making up the balance — mix published in its 10-K and sustainability reporting Capacity: About 31 GW of generating capacity before the Calpine transaction (company reporting, 2024); the Calpine combination, announced Jan 2025, would create about 60 GW on the basis stated in the merger announcement

Footprint: Generation and retail across the United States, with nuclear fleets in Illinois, Pennsylvania, Maryland, New York and Texas markets, and retail supply in most competitive states

Structure: Ownership: Publicly traded (Nasdaq: CEG); widely held Access: Merchant/competitive posture: output is sold into PJM, ERCOT, NYISO, ISO-NE and other wholesale markets and under bilateral and retail contracts; household customers in competitive states may choose Constellation as supplier, but it owns no local wires. Headquarters: 1310 Point Street, Baltimore, MD 21231, United States

Website: www.constellationenergy.com · Contact: Phone: Not published · Email: Not published

Created on 1 February 2022 when Exelon separated its generation and competitive businesses; the fleet descends from Baltimore Gas and Electric (1816), Commonwealth Edison, PECO and the former Exelon Generation, including the largest U.S. nuclear fleet. In 2025 Constellation agreed to acquire Calpine, the largest U.S. gas and geothermal generator, in a transaction announced in January 2025. America's nuclear merchant: the largest U.S. nuclear operator, selling carbon-free power by the hour — including landmark hourly-matched supply agreements with large technology customers — rather than by regulated rate case. Dominguez led Exelon Generation before the separation and became Constellation's first CEO. The Calpine acquisition was announced in January 2025 (about US$16.4 billion equity value) and was proceeding through approvals at the dates reported by the companies — recorded as announced/pending where applicable.

Sources: Constellation Energy Form 10-K FY2024; Calpine transaction announcement Jan 2025; leadership pages (constellationenergy.com), Oct 2026

20. RWE AG — ESSEN, GERMANY

Founded 1898 · Generation & merchant

Leader: Markus Krebber, Chief Executive Officer

Leadership: Chair: Werner Brandt, Chairman of the Supervisory Board President / COO: No separate President/COO title published; Executive Board members head Offshore Wind, Onshore Wind/Solar, Supply & Trading and Hydro/Biomass/Gas CFO: Michael Müller, Chief Financial Officer Other C-suite: Executive Board published at rwe.com: Katja van Doren (Hydro, Biomass, Gas and human resources) and the chief executives of RWE Offshore Wind, RWE Onshore Wind/Solar and RWE Supply & Trading as published Senior leadership: Executive Board and Supervisory Board published at rwe.com/en/the-group/management, verified Oct 2026

Business: Generation — offshore wind, onshore wind and solar, hydro, biomass and gas, plus remaining lignite and nuclear decommissioning; energy trading (RWE Supply & Trading); no transmission or distribution networks and no household retail since the E.ON swap; battery storage and green hydrogen development

Customers: Wholesale, industrial and municipal customers and market counterparties; RWE does not publish a household customer count because it has no mass retail business — customer categories as published are industrial, municipal utility and trading counterparties

Scale: Revenue €24.5 billion, FY2024 (RWE annual report 2024, revenue excluding natural gas tax / electricity tax as presented)

Generation & capacity: Wind and solar now supply the largest share of RWE's generation growth, with gas, hydro and biomass as flexible sources and lignite declining to a 2030 exit; output mix by technology is published in RWE's annual report and fact book Capacity: About 45 GW of generation capacity on a pro-rata basis including its renewables portfolio (company reporting, end-2024; basis as published by RWE)

Footprint: Germany, the United Kingdom, the Netherlands, the United States and a growing set of renewables markets in Europe and Asia-Pacific

Structure: Ownership: Publicly traded (Xetra: RWE); widely held; Qatar Investment Authority became a significant shareholder through a 2022 mandatory convertible as disclosed by the company Access: Merchant posture: generation sells into European and U.S. wholesale markets, auctions and corporate PPAs; there is no regulated retail relationship with households. Headquarters: RWE Platz 1, 45141 Essen, Germany

Website: www.rwe.com · Contact: Phone: Not published · Email: Not published

Founded in Essen in 1898 as Rheinisch-Westfälisches Elektrizitätswerk; for a century Germany's coal and nuclear utility; in the 2018-19 E.ON asset swap it received E.ON's and innogy's renewables businesses and became a generation and trading company, exiting networks and retail; its lignite fleet is scheduled to close by 2030 under German law and agreement. The mirror image of E.ON in this guide: RWE kept the power stations and the trading floor and gave up the wires — Europe's clearest generation-only major, and one of the world's largest offshore wind owners. Krebber became CEO in 2021. RWE's 2030 lignite exit in the Rhineland, agreed with German and North Rhine-Westphalia governments in 2022, is its defining domestic commitment.

Sources: RWE annual report FY2024 and management pages (rwe.com), Oct 2026

21. VISTRA CORP. — IRVING, TEXAS, UNITED STATES

Founded 2016 (as Vistra Energy; origins in TXU and Energy Future Holdings) · Generation & merchant

Leader: Jim Burke, President and Chief Executive Officer

Leadership: Chair: Scott B. Helm, Chair of the Board (as published on Vistra's board pages) President / COO: President role held by Jim Burke; executive vice presidents head Vistra's generation fleet (including nuclear through Vistra Operations) and TXU Energy retail CFO: Stephen J. Muscato, Executive Vice President and Chief Financial Officer (as published by Vistra) Other C-suite: Executive team published at vistracorp.com, including the heads of generation, retail, strategy, legal and sustainability Senior leadership: Board and executive team published at vistracorp.com/about/leadership, verified Oct 2026

Business: Generation — natural gas, coal in retirement, nuclear (Comanche Peak and, from Energy Harbor, Beaver Valley, Davis-Besse and Perry), solar and battery storage; retail electricity supply (TXU Energy, Dynegy and Ambit brands) in competitive markets; no regulated transmission or distribution networks

Customers: About 5 million residential, commercial and industrial retail customers (company reporting, 2024, following the Energy Harbor closing)

Scale: Revenue US$17.2 billion, FY2024 (year ended 31 Dec 2024, Vistra Form 10-K)

Generation & capacity: Natural gas is the largest source, with nuclear the second pillar after the 2024 Energy Harbor acquisition, plus coal (retiring), solar and storage; mix published in Vistra's 10-K and sustainability reporting Capacity: About 41 GW of generating capacity (company reporting, 2024)

Footprint: Generation and retail across the United States, concentrated in Texas (ERCOT), PJM and the Midwest and Northeast competitive markets

Structure: Ownership: Publicly traded (NYSE: VST); widely held Access: Merchant/competitive posture throughout: generation sells into ERCOT, PJM and other wholesale markets; retail customers in competitive states choose TXU Energy, Dynegy or Ambit as supplier — Vistra owns no local wires anywhere. Headquarters: 1925 West John Carpenter Freeway, Irving, TX 75051, United States

Website: www.vistracorp.com · Contact: Phone: Not published · Email: Not published

Descends from Texas Utilities / TXU and Energy Future Holdings, whose Luminant generation and TXU Energy retail businesses emerged from the EFH Chapter 11 in 2016 as Vistra Energy, renamed Vistra Corp. in 2020; grew by acquiring Dynegy (2018), Ambit Energy and the Energy Harbor nuclear fleet (2024). Texas's merchant champion: the largest competitive power generator and retailer in the United States by the measures it publishes, built out of a bankruptcy and two fleet acquisitions in under a decade. Burke, formerly TXU Energy's head, became CEO in 2023, succeeding Curt Morgan. The Energy Harbor acquisition (closed March 2024) added about 4 GW of nuclear capacity.

Sources: Vistra Form 10-K FY2024 and leadership pages (vistracorp.com), Oct 2026

GRID & TRANSMISSION

22. NATIONAL GRID PLC — LONDON, UNITED KINGDOM

Founded 1990 (from the Central Electricity Generating Board restructuring) · Grid & transmission

Leader: Zoë Yujnovich, Chief Executive (appointed Chief Executive on 17 November 2025; joined the Board as Chief Executive Designate on 1 September 2025)

Leadership: Chair: Paula Rosput Reynolds, Chair President / COO: No separate President/COO title published; divisional chief executives head UK Electricity Transmission, UK Electricity Distribution, New England, New York and National Grid Ventures CFO: Andy Agg, Chief Financial Officer Other C-suite: Group Executive Committee published at nationalgrid.com, including the presidents of the New England and New York businesses, the head of UK Electricity Distribution and the chief strategy and regulation officer Senior leadership: Board and Group Executive Committee published at nationalgrid.com/about-us/leadership, verified Oct 2026

Business: Transmission — high-voltage electricity transmission owner in England and Wales, and interconnector interests (National Grid Ventures); distribution — electricity distribution in the English Midlands, South West and Wales (the former Western Power Distribution) and electricity and gas distribution in New York and Massachusetts; generation — none as a core business after the Renewables disposal programme; retail — regulated default supply only through its U.S. utilities, no competitive retail

Customers: National Grid's U.S. utilities serve about 9.7 million electricity and gas customer accounts/connections in New York and Massachusetts on the basis published by the company; in the UK its distribution business connects about 8 million customers and its transmission network serves the whole GB market indirectly (company reporting, 2025)

Scale: Revenue £19.95 billion, FY2024/25 (year ended 31 Mar 2025, National Grid annual report 2025)

Generation & capacity: No generation mix: National Grid is a networks company; the GB system operator role moved to NESO (public ownership) on 1 Oct 2024, and generation sold by others flows over its wires — stated plainly Capacity: Installed generation capacity: none owned as a core fleet (0 GW basis) — network scale is about £60 billion of investment planned over the five years to 2028/29 as announced by the company in 2024

Footprint: United Kingdom (England and Wales transmission; distribution in England and Wales regions) and the northeastern United States (New York and Massachusetts)

Structure: Ownership: Publicly traded (LSE: NG.; NYSE: NGG); widely held Access: Fully regulated on both sides of the Atlantic — Ofgem price controls (RIIO) in the UK and New York / Massachusetts commissions in the U.S.; customers reach National Grid through its distribution businesses, while GB households buy energy from separate suppliers. Headquarters: 1-3 Strand, London WC2N 5EH, United Kingdom

Website: www.nationalgrid.com · Contact: Phone: Not published · Email: Not published

Created in 1990 when England and Wales's CEGB transmission system became the National Grid Company at privatisation; expanded into U.S. regulated utilities from the late 1990s (New England and New York), sold its UK gas transmission business (2023-24) and in 2024 announced the sale of National Grid Renewables' U.S. onshore business, becoming a pure electricity-networks group; the GB electricity system operator passed to the publicly owned NESO in October 2024. The transatlantic wires company: the same regulated-network craft applied to the GB transmission grid and to upstate New York, with a £35 billion UK transmission upgrade programme (ASTI) at its centre. Yujnovich, formerly Shell's Integrated Gas and Upstream director, succeeded John Pettigrew on 17 November 2025 after his decade as CEO (National Grid announcement, May 2025).

Sources: National Grid annual report FY2024/25; CEO succession announcement May 2025 and leadership pages (nationalgrid.com), Oct 2026

23. STATE GRID CORPORATION OF CHINA — BEIJING, CHINA

Founded 2002 · Grid & transmission

Leader: General Manager: the current General Manager is not named in the English-language official sources consulted for this guide — Not disclosed in those sources; executive leadership below the Chairman is therefore carried as a named gap

Leadership: Chair: Zhang Zhigang, Chairman of the Board (since 27 March 2024; previously General Manager from May 2021) President / COO: No President/COO title in the Chinese state-grid structure; the General Manager is the senior executive role under the Chairman — see CEO field and Named Gaps CFO: Not published in the English-language official sources consulted — Not disclosed Other C-suite: Other named group executives are published principally in Chinese-language State Grid releases; a verified English-language C-suite roster is not published — Not disclosed in sources consulted Senior leadership: Chairman verified (Zhang Zhigang, from 27 Mar 2024); fuller English-language senior leadership roster not published in sources consulted — see Named Gaps

Business: Transmission — the world's largest transmission system, including ultra-high-voltage (UHV) AC and DC lines; distribution across its service area; retail supply to end users in its territory as China's default grid supplier; generation — limited pumped-storage and support assets only, generation having been separated in 2002; overseas grid investments and contracting

Customers: Serves a population of more than 1.1 billion in its service area, covering about 88% of China's territory (company-published figures, widely cited in its sustainability reporting)

Scale: Revenue US$548.41 billion, 2024 (Fortune Global 500 reporting of State Grid's published results, as cited in reference sources consulted Oct 2026) — the largest revenue of any company in this guide, on a state-group reporting basis

Generation & capacity: State Grid does not generate the power it carries as its core business: China's generation mix flowing over its network in 2024 was still majority coal, with hydro, wind, solar and nuclear growing rapidly ( national statistics basis) — stated on that basis, not as a company fleet mix Capacity: Installed generation capacity: not a generation fleet figure — Not disclosed as such; network scale is published in its reporting as transmission lines exceeding 1.1 million km of high-voltage circuit length on bases stated there

Footprint: 26 provinces, autonomous regions and municipalities in China, plus overseas grid assets and projects including in Brazil, Portugal, Italy, Greece, Australia, the Philippines, Oman and Chile through its international subsidiaries as published

Structure: Ownership: Wholly state-owned (central SASAC); unlisted at group level, with listed subsidiaries on Chinese exchanges Access: State monopoly posture in its territory: end users in China buy through the grid companies under regulated tariffs set by the National Development and Reform Commission and provincial price bureaus; there is no competing wires provider in its service area. Headquarters: 86 Xichang'an Street, Xicheng District, Beijing, China (head office as published)

Website: www.sgcc.com.cn · Contact: Phone: Not published · Email: Not published

Established in 2002 in the unbundling of China's State Power Corporation, which separated generation from grids; State Grid took transmission and distribution across most of China (China Southern Power Grid serves five southern provinces separately). Included here as a context entry, honestly framed: it is a state grid operator, not a listed integrated utility, and its English-language disclosure is thinner than that of the listed companies in this guide. By revenue and by people served, the largest utility organisation on earth — a grid, not a generator: the context against which every other entry's scale should be read. CONTEXT ENTRY. Zhang Zhigang's chairmanship (from 27 Mar 2024) is verified; the absence of a published English-language full executive roster is itself reported here rather than filled by inference. China Southern Power Grid, the second Chinese grid company, is not listed separately — see Named Gaps.

Sources: State Grid corporate profile and sustainability reporting (sgcc.com.cn); Fortune Global 500 2025 (2024 revenue); chairman appointment reporting Mar 2024, Oct 2026

24. POWER GRID CORPORATION OF INDIA LIMITED (POWERGRID) — GURUGRAM, HARYANA, INDIA

Founded 1989 · Grid & transmission

Leader: Ravindra Kumar Tyagi, Chairman and Managing Director (since January 2024)

Leadership: Chair: Ravindra Kumar Tyagi, Chairman and Managing Director (combined role) President / COO: No separate President/COO title published; functional Directors head Projects, Operations, Personnel and Finance on the POWERGRID board CFO: G. Ravisankar, Director (Finance) — the board finance role as published by POWERGRID Other C-suite: Board of Directors published at powergrid.in, including Director (Projects), Director (Operations) and Director (Personnel) with names as published there Senior leadership: Board published at powergrid.in/about-us/board-of-directors, verified Oct 2026

Business: Transmission only as the core business: inter-state and inter-regional transmission, system operation support historically (now POSOCO/Grid India separately), transmission consultancy, and telecom (PowerTel) and energy services subsidiaries; no generation and no retail distribution

Customers: Customers are India's state distribution utilities, generators and bulk consumers connected to the inter-state system — a wholesale, regulated-tariff customer base, not households; categories as published in its annual report

Scale: Revenue ₹45,792 crore (about ₹457.9 billion), FY2024/25 total income basis as published in POWERGRID's annual results (year ended 31 Mar 2025)

Generation & capacity: No generation mix: POWERGRID owns no power stations; it transmits power generated by others across the national grid — stated plainly Capacity: Installed generation capacity: none (0 GW) — network scale is about 180,000 circuit km of transmission lines and more than 550,000 MVA of transformation capacity (company reporting, 2025)

Footprint: All India — the inter-state transmission system across every region, with consultancy and project work in other countries in Asia and Africa

Structure: Ownership: Publicly traded (NSE/BSE: POWERGRID); Government of India holds about 51.3% as published by the company Access: Regulated posture: inter-state transmission charges are set under Central Electricity Regulatory Commission (CERC) norms on a cost-plus / availability basis; access is by generators and distribution utilities, not by end consumers. Headquarters: Saudamini, Plot No. 2, Sector 29, Gurugram, Haryana 122001, India

Website: www.powergrid.in · Contact: Phone: Not published · Email: Not published

Incorporated in 1989 as National Power Transmission Corporation, renamed Power Grid Corporation of India in 1992; built and operates India's inter-state transmission system, the backbone linking the regional grids into one national grid (one frequency since 2013). The purest grid company in Asia: one country, one grid, one frequency — POWERGRID's lines carry roughly half of all power transmitted in India. Tyagi, a career POWERGRID engineer, became CMD in January 2024. POWERGRID is a Government of India Maharatna public sector enterprise.

Sources: POWERGRID annual report and results FY2024/25 and board pages (powergrid.in), Oct 2026

STATE UTILITY

25. ÉLECTRICITÉ DE FRANCE S.A. (EDF) — PARIS, FRANCE

Founded 1946 · State utility

Leader: Bernard Fontana, Chairman and Chief Executive Officer (since May 2025)

Leadership: Chair: Bernard Fontana, Chairman and Chief Executive Officer (combined role) President / COO: No separate President/COO title published; Group Senior Executive Vice Presidents head nuclear, generation, customers, networks interests and finance on the Executive Committee CFO: Claude Laruelle, Group Senior Executive Vice President in charge of Performance, Impact, Investment and Finance (the group's senior finance role, presenting EDF's 2025 annual results, Feb 2026) Other C-suite: Executive Committee published at edf.fr, including the heads of the Nuclear and Thermal Generation, New Nuclear, Customers, Enedis relationship, EDF Renewables and international divisions as published Senior leadership: Executive Committee published at edf.fr/en/the-edf-group/governance, verified Oct 2026

Business: Generation — nuclear, hydro, wind, solar, gas and other thermal; transmission — RTE is an independently managed EDF subsidiary under French and EU unbundling; distribution — Enedis, EDF's independently managed distribution subsidiary serving most of France; retail supply in France, the UK (EDF Energy), Italy (Edison) and Belgium; energy services (Dalkia)

Customers: About 41 million customer accounts worldwide (electricity, gas and recurring service contracts, EDF reporting for 2025): about 30 million in France across Enedis/EDF supply, plus EDF Energy (UK), Edison (Italy) and other markets

Scale: Consolidated sales €113.3 billion, FY2025 (EDF annual results, 19-20 Feb 2026; FY2024 sales were €118.7 billion)

Generation & capacity: Nuclear supplied 373 TWh in France in 2025, the highest in six years, within group output of 515 TWh that EDF reports as 95% decarbonised (nuclear, hydro and other renewables), with gas and other thermal the remainder (EDF 2025 results) Capacity: About 118 GW of installed generation capacity worldwide on the gross basis published in EDF's recent reference documents (nuclear about 68 GW of it) — basis as published there

Footprint: France as the core, plus the United Kingdom (EDF Energy: generation, supply and Hinkley Point C / Sizewell C construction), Italy (Edison), Belgium and activities in the Americas, Africa and Asia

Structure: Ownership: Wholly owned by the French State (100% since June 2023) Access: State utility posture within liberalised markets: Enedis distribution is a regulated monopoly, EDF retail supply competes in France's open market (alongside regulated tariffs it administers), and generation sells wholesale and under the post-ARENH framework in France from 2026 as legislated. Headquarters: 22-30 avenue de Wagram, 75382 Paris Cedex 08, France (as published by EDF)

Website: www.edf.fr · Contact: Phone: Not published (press line +33 1 40 42 46 37 published for media only) · Email: servicedepresse@edf.fr (press, as published by EDF); edfirteam@edf.fr (investor relations, as published by EDF)

Created in 1946 in the nationalisation of France's electricity industry; partly listed in 2005, then renationalised: the French State completed its takeover and EDF was delisted in June 2023, returning to 100% state ownership. Operator of France's 56-reactor nuclear fleet and builder of the EPR programme (Flamanville 3 reached full power in 2025; six EPR2 reactors planned). The state nuclear utility in its purest form: one shareholder (the French Republic), the world's largest nuclear fleet, and a new-build programme (EPR2, Hinkley, Sizewell) that will define European nuclear power for a generation. Fontana, formerly CEO of Framatome, succeeded Luc Rémont in May 2025 with a mandate on nuclear output and the EPR2 programme. EDF's 2025 results (sales €113.3bn, EBITDA €29.3bn, net debt €51.5bn) are the freshest full-year figures in this guide.

Sources: EDF 2025 annual results release and transcripts, Feb 2026; EDF General Meeting release Jun 2026; governance pages (edf.fr), Oct 2026

26. KOREA ELECTRIC POWER CORPORATION (KEPCO) — NAJU, JEOLLANAM-DO, SOUTH KOREA

Founded 1898 (Hanseong Electric origins); KEPCO in present form 1982 · State utility

Leader: Kim Dong-cheol, President and Chief Executive Officer (since September 2023)

Leadership: Chair: Chair of the Board role is held within KEPCO's board structure headed by the President & CEO in the published English materials; a separate non-executive chair name is Not disclosed in the English sources consulted President / COO: President role held by Kim Dong-cheol; Vice Presidents head the transmission & distribution, nuclear-cooperation, overseas and management functions as published by KEPCO CFO: Chief Financial Officer title in English materials: Not disclosed in the sources consulted — finance is headed by a named Vice President in KEPCO's Korean-language officer listings, carried here as a named gap for English readers Other C-suite: Executive officers published at home.kepco.co.kr, including the heads of its six generation subsidiaries (KHNP for nuclear and hydro among them) at group level Senior leadership: President & CEO verified; executive roster is published by KEPCO in Korean with a partial English version — see Named Gaps

Business: Transmission; distribution; retail electricity supply as Korea's monopoly retailer; generation through six subsidiaries — Korea Hydro & Nuclear Power (nuclear and hydro), and five thermal generation companies (KOSEP, KOMIPO, Western Power, Southern Power, East-West Power); overseas generation, transmission and smart-grid projects

Customers: About 25 million customer contracts — effectively every electricity customer in South Korea, residential, commercial, industrial and agricultural (company reporting, recent years)

Scale: Revenue ₩93.9 trillion, FY2024 (KEPCO consolidated financial statements 2024)

Generation & capacity: At national-system level, Korea's generation is led by nuclear and coal, followed by LNG, with renewables growing; KEPCO group output follows that system mix through its generation subsidiaries, as published in KEPCO's annual reporting Capacity: KEPCO group generation capacity through its subsidiaries is about 84 GW on the basis published in its annual reporting (within a Korean national installed capacity of about 144 GW including independent producers, 2024)

Footprint: South Korea nationwide, plus overseas projects and offices in more than 20 countries (nuclear export programme including the UAE Barakah plant, built with KHNP)

Structure: Ownership: Publicly traded (KRX: 015760; NYSE ADR: KEP); the Government of Korea and Korea Development Bank together hold a majority (about 51%) as published Access: State utility monopoly posture: tariffs are set with government approval through the Korea Electricity Commission framework; customers have no alternative network or default retailer in mainland Korea. Headquarters: 55 Jeollyeok-ro, Naju-si, Jeollanam-do, South Korea

Website: home.kepco.co.kr · Contact: Phone: Not published · Email: Not published

Descends from Hanseong Electric (1898), Korea's first electric company; the Korea Electric Power Corporation was established in 1982 from the merged state utilities; generation was separated into six generation subsidiaries in 2001 while KEPCO kept transmission, distribution and retail as Korea's sole integrated grid utility. The single-buyer utility of an entire industrial nation: KEPCO buys, transmits, distributes and retails essentially all of Korea's electricity, and its generation arm built and operates the UAE's Barakah nuclear plant. Kim Dong-cheol, a former National Assembly member and energy-policy figure, became President & CEO in September 2023 amid KEPCO's financial stabilisation programme after the 2021-23 tariff freeze losses.

Sources: KEPCO annual report and financial statements FY2024 and corporate pages (home.kepco.co.kr), Oct 2026

27. NTPC LIMITED — NEW DELHI, INDIA

Founded 1975 · State utility

Leader: Gurdeep Singh, Chairman and Managing Director (in office since 2016; tenure extended by the Government of India as published)

Leadership: Chair: Gurdeep Singh, Chairman and Managing Director (combined role) President / COO: No President/COO title in the Indian PSU structure; functional Directors head Operations, Projects, Commercial, HR and the renewables and nuclear businesses CFO: Jaikumar Srinivasan, Director (Finance) — the board finance role as published by NTPC Other C-suite: Board of Directors published at ntpc.co.in, including Director (Operations), Director (Projects), Director (Commercial) and Director (HR), with names as published there Senior leadership: Board published at ntpc.co.in/about-us/board-of-directors, verified Oct 2026

Business: Generation — coal, gas, hydro, solar and wind, with nuclear through joint ventures (including with NPCIL) and green hydrogen / energy storage development; no transmission (PowerGrid's role nationally) and no household distribution or retail — NTPC sells bulk power to state distribution utilities, plus power trading and consultancy subsidiaries

Customers: State electricity distribution companies (DISCOMs) and bulk buyers across India — a wholesale customer base; NTPC supplies about a quarter of India's electricity demand on the basis published by the company

Scale: Revenue (total income) about ₹1.91 lakh crore (₹1.91 trillion) at group level, FY2024/25 (NTPC annual results, year ended 31 Mar 2025; standalone and group bases are both published there)

Generation & capacity: Coal supplies the large majority of NTPC's generation, with gas, hydro, solar and wind growing from a low base; NTPC targets non-fossil capacity of 60 GW by 2032 as published in its strategy materials Capacity: Group installed capacity crossed 80 GW in 2025 (NTPC reporting, 2025), including subsidiaries and joint ventures

Footprint: All India — stations in every region, plus a Bangladesh joint venture (Rampai) and consultancy internationally

Structure: Ownership: Publicly traded (NSE/BSE: NTPC); Government of India holds about 51.1% as published by the company Access: State utility / wholesale posture: tariffs for its regulated stations are set by the Central Electricity Regulatory Commission (CERC) on cost-plus norms; its customers are state DISCOMs under long-term power purchase agreements, not end consumers. Headquarters: NTPC Bhawan, SCOPE Complex, 7 Institutional Area, Lodhi Road, New Delhi 110003, India

Website: www.ntpc.co.in · Contact: Phone: Not published · Email: Not published

Incorporated in 1975 as National Thermal Power Corporation to build India's central-sector power stations; renamed NTPC Limited in 2005 as it moved beyond thermal into hydro, renewables (NTPC Green Energy, listed 2024) and nuclear joint ventures; India's largest power generator. The generator behind a quarter of India's electricity: a state champion still built on coal, now funding one of the world's largest solar and green-hydrogen build-outs from the same balance sheet. NTPC Green Energy Limited listed in November 2024. Gurdeep Singh's repeated extensions as CMD have made him one of the longest-serving heads of an Indian energy PSU.

Sources: NTPC annual report and results FY2024/25 and board pages (ntpc.co.in), Oct 2026

28. ESKOM HOLDINGS SOC LTD — SANDTON (JOHANNESBURG), SOUTH AFRICA

Founded 1923 (Electricity Supply Commission) · State utility

Leader: Dan Marokane, Group Chief Executive (since 1 March 2024)

Leadership: Chair: Mteto Nyati, Chairman of the Board President / COO: No President title; the Group Executive Committee includes the Group Executives for Generation, Distribution, Transmission (NTCSA leadership) and commercial functions as published by Eskom CFO: Calib Cassim, Chief Financial Officer (Group CFO, in office through the restructuring period as published by Eskom) Other C-suite: Group Executive Committee published at eskom.co.za, including the heads of generation, distribution and the NTCSA transmission business Senior leadership: Board and Group Executive Committee published at eskom.co.za/about-eskom/leadership, verified Oct 2026

Business: Generation — coal-dominated fleet, the Koeberg nuclear station, hydro and pumped storage, and emergency gas/diesel peakers; transmission — through the National Transmission Company of South Africa (NTCSA), a separate Eskom subsidiary since 2024; distribution — direct supply to large customers and municipalities and distribution in licensed areas; retail — bulk sales to municipalities (who resell to most households) and direct large industrial, mining and traction customers

Customers: About 7 million direct customer accounts on Eskom's reporting basis, plus the population served indirectly through municipal distributors — effectively most of South Africa's roughly 63 million people (company reporting, FY2024)

Scale: Revenue R295.8 billion, FY2023/24 (year ended 31 Mar 2024, Eskom integrated report 2024); the FY2025 report updates this figure on its publication

Generation & capacity: Coal supplies roughly 80% or more of Eskom's energy sent out, with nuclear (Koeberg), hydro and pumped storage, and diesel peakers making up most of the balance; renewables are procured mainly from independent producers rather than owned (Eskom integrated reporting) Capacity: About 54.7 GW nominal capacity in the Eskom fleet on the basis published in its integrated reporting (available capacity is materially lower and is reported separately by Eskom and the system operator)

Footprint: South Africa nationwide, with interconnected sales and purchases across the Southern African Power Pool

Structure: Ownership: Wholly state-owned (State-Owned Company, Government of South Africa as sole shareholder) Access: State monopoly posture in transition: Eskom remains the dominant generator and, through the NTCSA, the transmission owner and system operator; municipal distributors and direct customers reach it under NERSA-regulated tariffs, with market reforms legislated in 2024 now being implemented. Headquarters: Megawatt Park, Maxwell Drive, Sunninghill, Sandton, Johannesburg, South Africa

Website: www.eskom.co.za · Contact: Phone: Not published · Email: Not published

Established in 1923 as South Africa's Electricity Supply Commission (Escom, later Eskom); built the coal fleet that industrialised South Africa and the Koeberg nuclear station; after the load-shedding crisis years, Eskom was restructured under the 2024 Electricity Regulation Amendment framework, with the National Transmission Company of South Africa (NTCSA) operationalised as a separate subsidiary in 2024. Included as a context entry for Africa's largest utility. CONTEXT ENTRY for the state utility on which a G20 economy runs — and for the most closely watched turnaround in world utilities: ending rotational load-shedding while unbundling transmission into the NTCSA and opening a competitive wholesale market. Marokane returned to Eskom as Group Chief Executive in March 2024 after a previous executive period at the company; Nyati chairs the board appointed in 2022. Availability and load-shedding figures change monthly and are deliberately not carried as fixed facts here.

Sources: Eskom integrated report FY2024 and leadership pages (eskom.co.za), Oct 2026

29. SAUDI ELECTRICITY COMPANY (SEC) — RIYADH, SAUDI ARABIA

Founded 2000 (consolidation of the regional electricity companies; origins 1976) · State utility

Leader: Khalid bin Salem AlGhamdi, Chief Executive Officer (appointed by the Board effective 1 October 2025)

Leadership: Chair: Chairman of the Board: the current chairman's name is Not disclosed in the English-language sources consulted for this edition — see Named Gaps President / COO: No President/COO title published in English materials; Executive Vice Presidents head generation, transmission (National Grid SA), distribution and technical services as published by SEC CFO: Chief Financial Officer: name Not disclosed in the English-language sources consulted for this edition — see Named Gaps Other C-suite: Senior executives named in SEC's appointment releases include its Executive Vice President for Technical Services, Chief Engineer and digital/technology leadership (roles from which the current CEO was promoted, per the October 2025 release) Senior leadership: CEO verified by SEC's October 2025 appointment announcement; a complete verified English-language executive roster is not published in sources consulted — see Named Gaps

Business: Generation — the Kingdom's dominant generator, predominantly gas and oil-fired with growing solar interconnections; transmission — through its national grid business; distribution; retail supply to more than 11 million customers across the Kingdom; district cooling and services interests

Customers: More than 11 million customers across the Kingdom (SEC, in its CEO appointment announcement, October 2025): residential, commercial, industrial, agricultural and government categories

Scale: Revenue SAR 88.7 billion, FY2024 (SEC consolidated financial statements 2024)

Generation & capacity: Natural gas and oil (crude and fuel oil) supply the large majority of Saudi generation, with solar growing under the National Renewable Energy Program; SEC publishes system fuel data through national statistics and its annual report on bases stated there Capacity: Available generation capacity in the Saudi system is about 95 GW on national reporting bases (2024), of which SEC and its subsidiaries operate the dominant share — company-specific operated capacity is published in SEC's annual report

Footprint: The whole Kingdom of Saudi Arabia, through the interconnected central, western, eastern and southern operating areas and isolated systems being progressively interconnected

Structure: Ownership: Publicly traded (Tadawul: 5110); the Public Investment Fund is the majority shareholder (about 74%) as published Access: State utility posture: SEC is the Kingdom's incumbent integrated utility under the Saudi Electricity Regulatory Authority; end users are served at regulated tariffs, with large-customer and market arrangements developing under the sector restructuring programme. Headquarters: Head Office, Riyadh, Saudi Arabia (street address not published in the English-language sources consulted)

Website: www.se.com.sa · Contact: Phone: Not published · Email: Not published

Formed in 2000 by consolidating Saudi Arabia's regional electricity companies and projects into a single listed utility under the Kingdom's electricity law; operates within the restructured Saudi market in which generation, transmission (through its National Grid SA business) and distribution are being separated under the regulator (Saudi Electricity Regulatory Authority, formerly ECRA/WERA framework). The utility of Vision 2030's building boom: 11 million customers, summer peaks among the highest per capita in the world, and a state-directed shift from burning crude for power toward gas and solar. AlGhamdi, previously SEC's Executive Vice President for Technical Services and Chief Engineer, became CEO on 1 October 2025 (SEC announcement). The PIF majority stake makes SEC a state utility in listed form.

Sources: SEC CEO appointment announcement, 1-2 Oct 2025; SEC financial statements FY2024 and corporate site (se.com.sa), Oct 2026

30. TOKYO ELECTRIC POWER COMPANY HOLDINGS, INC. (TEPCO) — TOKYO, JAPAN

Founded 1951 · State utility

Leader: Tomoaki Kobayakawa, President and Executive Officer (TEPCO's chief executive role; in office since 2017)

Leadership: Chair: Chairman of the Board: a separate chairman name is Not disclosed in the English-language sources consulted for this edition — TEPCO's published English materials centre on the President as chief executive; see Named Gaps President / COO: President role held by Tomoaki Kobayakawa; executive vice presidents head TEPCO Power Grid, TEPCO Energy Partner (retail) and TEPCO Renewable Power as published by the group CFO: Chief Financial Officer title in English materials: Not disclosed as a single named CFO in the sources consulted — finance is led by a named executive officer in TEPCO's Japanese disclosures; carried as a named gap for English readers Other C-suite: Executive officers published at tepco.co.jp/en/hd, including the presidents of TEPCO Fuel & Power interests (through JERA), TEPCO Power Grid, TEPCO Energy Partner and TEPCO Renewable Power Senior leadership: President verified in TEPCO's published materials and results presentations; fuller English-language officer roster is published in TEPCO's corporate governance report — see Named Gaps

Business: Generation — thermal through JERA (the 50/50 joint venture with Chubu Electric), hydro and renewables through TEPCO Renewable Power, and nuclear (Kashiwazaki-Kariwa, and the Fukushima decommissioning programme); transmission and distribution — TEPCO Power Grid, Japan's largest grid company; retail — TEPCO Energy Partner, Japan's largest electricity retailer, plus gas retail

Customers: TEPCO Energy Partner serves roughly 20 million retail contracts in the Kantō area on company reporting bases, and TEPCO Power Grid's area demand was 268.3 TWh in the fiscal year reported April 2026 — the largest service area in Japan, covering Tokyo and eight surrounding prefectures

Scale: Operating revenue ¥6,810.3 billion, fiscal year ended 31 March 2025 (TEPCO financial results, Apr-May 2025); ¥6,328.5 billion in the following fiscal year on the results published April 2026, both as reported by TEPCO

Generation & capacity: At group level, thermal (LNG and coal, through JERA) supplies most energy sold, with hydro, purchased renewables and nuclear at minimal utilisation pending Kashiwazaki-Kariwa's restart during the reporting period — TEPCO publishes sales volume (213.2 billion kWh total in its latest reported fiscal year) rather than a single fleet mix percentage Capacity: TEPCO group and JERA-attributable capacity is published asset by asset; JERA itself operates about 61 GW in Japan on its published basis, half attributable in economic terms to TEPCO — a single TEPCO fleet GW total is Not disclosed on a comparable basis in sources consulted

Footprint: Tokyo and the Kantō region (Tokyo, Kanagawa, Chiba, Saitama, Ibaraki, Tochigi, Gunma, Yamanashi and part of Shizuoka), with JERA and renewables activities across Japan and overseas

Structure: Ownership: Listed (TSE: 9501); the Nuclear Damage Compensation and Decommissioning Facilitation Corporation (state-backed) holds a majority of voting rights (about 54.7%) as published Access: State-controlled utility in a liberalised market: TEPCO Power Grid is the regulated monopoly network for Kantō, while TEPCO Energy Partner competes as a retailer in Japan's fully liberalised (since 2016) retail market against new entrants. Headquarters: 1-1-3 Uchisaiwai-cho, Chiyoda-ku, Tokyo 100-8560, Japan

Website: www.tepco.co.jp/en/hd/ · Contact: Phone: +81 3 6373 1111 (as published in company profile listings) · Email: Not published

Established in 1951 in the post-war restructuring of Japan's electricity industry as the integrated utility for the Kantō region; operator of the Fukushima Daiichi plant, whose 2011 accident reshaped the company and Japanese energy policy; the state-backed Nuclear Damage Compensation and Decommissioning Facilitation Corporation became its majority voting shareholder in 2012, making TEPCO a state-controlled utility in substance — the basis of its category here. Restructured in 2016 into a holding company with fuel and power generation (with JERA for thermal), power grid, and energy retail companies. The utility carrying the heaviest single responsibility in this guide: decommissioning Fukushima Daiichi and compensating its victims, while still supplying the largest metropolitan economy in the world. Kobayakawa has led TEPCO since 2017, its youngest president at appointment. The Kashiwazaki-Kariwa restart process and Fukushima decommissioning costs dominate every TEPCO financial statement and are flagged in its results.

Sources: TEPCO financial results FY ended Mar 2025 and Apr 2026 results materials (tepco.co.jp); TEPCO corporate profile, Oct 2026

NAMED GAPS

State Grid Corporation of China (context entry): Chairman Zhang Zhigang is verified (from 27 March 2024), but the current General Manager, CFO and a full executive roster are not named in the English-language official sources consulted — the cells say so rather than inferring names from Chinese-language releases.

KEPCO and TEPCO: the President & CEO of each is verified, but a separate board chair and a single named CFO are not disclosed in the English-language materials consulted; TEPCO also publishes no single fleet GW total comparable with the other generators (its thermal fleet sits in the JERA joint venture).

Saudi Electricity Company: CEO Khalid bin Salem AlGhamdi is verified from SEC's own October 2025 appointment announcement (effective 1 October 2025), but the board chairman, CFO and a head-office street address are not disclosed in the English-language sources consulted.

Published contact details are scarce by design of the industry: only EDF publishes general emails in this guide (press: servicedepresse@edf.fr; investor relations: edfirteam@edf.fr, both as published by EDF) and only TEPCO's main number (+81 3 6373 1111) is carried as a published phone, plus EDF's media-only press line. Every other phone/email cell reads 'Not published' — utilities route contact through customer service channels, regulator-facing offices and web forms, and no address or number was guessed.

Capacity figures are not on one basis: Iberdrola, Enel and EDF report gross installed capacity; CLP reports an equity basis; RWE reports pro-rata; Axia Energia reports operated capacity (~44 GW) and a higher figure including stakes (~51 GW); NTPC reports group capacity including subsidiaries and joint ventures. Each cell states its basis and date — the figures must not be ranked as if they were one measure.

No-generation entries are facts, not gaps: Exelon (since the 2022 Constellation separation), National Grid and Power Grid Corporation of India own no power stations, and E.ON and Sempra publish no single group fleet GW total since their networks refocusing — their cells say so and carry network/customer scale instead.

AGL Energy chair: the succession from Patricia McKenzie to Miles George is carried as published in AGL's recent board reporting; because Australian board reporting consulted was less complete than for other entries, readers should confirm the current chair at agl.com.au — flagged here rather than silently asserted.

Constellation / Calpine: the acquisition was announced in January 2025; its closing status should be re-checked against the companies' latest filings at time of use. Axia Energia's CEO succession (Ivan Monteiro to Élio Wolff, to April 2027) is an announced plan, carried with its dates, not as a completed change.

China Southern Power Grid, which serves five southern Chinese provinces, is not a separate entry: State Grid is the context entry for China's grid model, and adding a second thinly disclosed state grid would have padded the roster without meeting the depth standard.

Customers are counted on different bases (accounts, contracts, supply points, meters and people served) because that is how the companies publish them; each cell names its basis and date.