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public utility definition - legal

n

A company such as an electric company or gas company, the nature of which is to be a monopoly in a particular region. Because no free-market forces can exist in this situation, governmental regulation of such companies is the norm.

Webster's New World Law Dictionary Copyright © 2006 by Wiley Publishing, Inc., Hoboken, New Jersey.
Used by arrangement with John Wiley & Sons, Inc.

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