Public Utility Definition

An organization supplying water, electricity, transportation, etc. to the public, operated, usually as a monopoly, by a private corporation under governmental regulation or by the government directly.
Webster's New World
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

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