March 5, 2010 — FPL Group, Exelon, Southern Co., Dominion and Sempra Energy are the top five most admired companies this year in the electric utility sector, according to Fortune magazine.
The publication released the names and rankings from its “World’s Most Admired Companies” issue, which be published in its March 22, 2010 issue.
According to the list, FPL Group ranks in the top 10 among companies worldwide for innovation and, for a record fourth consecutive year, No. 1 in the electric utility industry.
In addition to being named the most admired company in its industry, FPL Group received the No. 1 ranking among its peers in the following specific areas evaluated: innovation, people management, use of corporate assets, social responsibility, quality of management, long-term investment, and quality of products and services.
FPL Group operates nearly 43,000 MW of generating capacity, and has its headquarters in Juno Beach, Fla., FPL Group’s units are NextEra Energy Resources, LLC, and Florida Power & Light Company, which serves about 4.5 million customers in Florida and is one of the largest rate-regulated electric utilities in the country.
For its latest Most Admired list, Fortune and management consulting firm, Hay Group, surveyed more than 4,000 corporate executives, directors and financial analysts.
Respondents at the largest U.S. corporations were asked to rank the top 10 companies in each industry segment based on criteria including innovation, management, use of assets, quality products and social responsibility.
Exelon Corp. placed No. 2 in the utility sector, according to Fortune. Exelon was also picked by the staff of Electric Light & Power magazine as its 2009 Utility of the Year. To read more about this award, and an interview with Exelon CEO John W. Rowe, click here.
Southern Co. and Dominion placed No. 3 and No. 4 respectively on Fortune‘s list, and Sempra Energy rounded out the top five.
Other contenders on the utility list include: PG&E, Duke Energy, Edison International, Consolidated Edison and FirstEnergy.
Some companies with investments in the power sector that made the list include Berkshire Hathaway (ranked No. 3 overall) and General Electric (No. 16 overall).
Top energy companies named by Fortune in the energy category included E.On, RWE, Integrys Energy Group, OneOK, Areva Group and GDF Suez.