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I’m only familiar with local utilities, but are there public utilities that turn profits? What happens to the profits?
I know of private utilities that are owned by municipalities and they pay dividends back to the municipality which is used in the city budget. There is also Hydro One which is about 50% owned by various orgs and is publicly traded. They pay dividends but like $0.35 per share, quarterly.
Southern California Edison. Waste Management. Every internet company. Water and sewer are about the only public utilities that are handled by the city in my city.
The person I was replying to said public utilities shouldn’t turn a profit, so I was asking about public utilities that turn profits, not privatized utilities.