Public Power Sector Report
18 July 2019
Public, or municipally-owned, electric utilities serve fewer customers in the US than do investor-owned utilities but many urban and rural areas in the southern and western US rely on these entities for electric service. By par amount of new issuance, public power bond issues were the 12th largest sector of the municipal bond market in 2018.
Public utilities have experienced a fair share of negative events in recent decades, from the 1983 default of the Washington Public Power Supply System (now Energy Northwest) to more recent problems with nuclear construction at the Municipal Electric Authority of Georgia (MEAG) and South Carolina Public Service Authority (Santee Cooper).