It is a reality that the global power industry is one of the important essential components of various other industries. The question that why the power industry is important, let us first understand the function and operation of a power company. As everyone knows that electricity is generated at power plants and once power is generated, it moves through several steps more and gets added to the grid. The grid in a country comprises power substations, transformers and power lines which is considered to be the primary link between consumers and the power producers. Let’s assume for a while that we are without power. What will happen? It is a reality that we all will get back to the stone age. In developed countries, power is the primary component of their daily lives and nearly everything depends on electricity. It is due to electricity that results in the development of any economy. The developed economies have round the clock power supply while developing and under-developed countries experience frequent power failures. The biggest power companies have earned over $620 billion during the previous year while the net assets of these companies exceed $2 trillion. This article will discuss the largest power companies in the world as written by Insider Monkey.
French power company, Engie, is the fifth power company on the list of the biggest power companies in the world. This company has wide-range of capabilities like electricity distribution, generation, transition, petroleum and renewable energy. The total market share of Engie stands at US $26 billion and it earned a revenue of US $67.2 billion in the year 2019. Engie’s net income in the year 2019 was US $1,100 million. It is believed that the company employs around 171,000 people and it is the biggest power company to have shifted its operations from fossil fuels to renewable energy.
The sixth company on the list is NextEra Energy with a market share of US $146 billion. The company’s revenue during 2019 stood at US $ 17.2 billion. NextEra is a US-based company with an operating capacity of 46 gigawatts. The total workforce of the company is 14,000 with several of these people employed in Canada. NextEra is believed to be the biggest power company in the world with reference to market capitalization as its market share is US $146 billion. Did you find this information interesting and want to learn about the other power companies? Continue reading at 15 Largest Power Companies In The World.