| 1. | a business enterprise, as a public-service corporation, performing an essential public service and regulated by the federal, state, or local government. Compare utility (def. 3). |
| 2. | Usually, public utilities. stocks or bonds of public-utility companies, excluding railroads. |
A private company supplying water, gas, electricity, telephone service, or the like, which is granted a monopoly by the government and then regulated by the government.