What does it mean when a utility is ‘public’ vs ‘private’?

General

A public utility is one that is regulated by a government entity and typically operates as a monopoly within a certain area. They provide essential services to the public like electricity, gas, water, and sewer services. A private utility, on the other hand, is owned by private investors or shareholders and operates in a competitive market where consumers can choose their provider. Private utilities might still be subject to some regulation to protect consumers, but they typically have more flexibility in their pricing and service offerings.

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