Utility IT benchmarks · 2026
America's 20 largest utilities, ranked by estimated IT spend
Together they spend an estimated $9.1–13.2 billion a year on technology. We took each utility's latest fiscal-year revenue from its SEC 10-K filing and applied the energy & utilities IT-spend benchmark of 2.6%–3.8% of revenue.
| # | Utility | FY2025 revenue (10-K) | Estimated annual IT budget |
|---|---|---|---|
| 1 | Duke Energy (DUK) | $32.2B | $837M – $1.22B |
| 2 | Southern Company (SO) | $29.6B | $770M – $1.12B |
| 3 | NextEra Energy (NEE) | $27.4B | $712M – $1.04B |
| 4 | PG&E (PCG) | $24.9B | $647M – $946M |
| 5 | Exelon (EXC) | $24.3B | $632M – $923M |
| 6 | American Electric Power (AEP) | $21.9B | $569M – $832M |
| 7 | Edison International (EIX) | $19.3B | $502M – $733M |
| 8 | Consolidated Edison (ED) | $17.0B | $442M – $646M |
| 9 | Dominion Energy (D) | $16.5B | $429M – $627M |
| 10 | DTE Energy (DTE) | $15.8B | $411M – $600M |
| 11 | FirstEnergy (FE) | $15.1B | $393M – $574M |
| 12 | Xcel Energy (XEL) | $14.7B | $382M – $559M |
| 13 | Sempra (SRE) | $13.7B | $356M – $521M |
| 14 | Eversource (ES) | $13.5B | $351M – $513M |
| 15 | Entergy (ETR) | $12.9B | $335M – $490M |
| 16 | PSEG (PEG) | $12.2B | $317M – $464M |
| 17 | WEC Energy (WEC) | $9.8B | $255M – $372M |
| 18 | CenterPoint Energy (CNP) | $9.4B | $244M – $357M |
| 19 | PPL (PPL) | $9.2B | $239M – $350M |
| 20 | Ameren (AEE) | $8.8B | $229M – $334M |
Estimates for comparison — not figures reported by the companies.
Where does your utility rank — and where are the savings?
Grid modernization, smart meters, wildfire and outage systems, customer platforms and ERP all sit inside these budgets — and so do unused licenses, contracts priced above market and idle cloud. iCxO benchmarks your utility against its peers and prices the savings, from your own budget, contracts and cloud bills.
Frequently asked questions
How much do utilities spend on IT?
iCxO's energy & utilities benchmark is 2.6%–3.8% of revenue. Applied to the latest 10-K revenue of the 20 largest US utilities, that is an estimated $9–13 billion a year combined, and roughly $0.2–1.2 billion per company.
Where does utility IT money go?
Grid modernization and ADMS, smart meters (AMI) and meter data management, wildfire and outage systems, customer information and billing platforms, ERP (often SAP), cybersecurity for OT and IT, and the contracts and licenses behind all of them.
How can a utility find savings in its IT budget?
Benchmark the total against peers, then break the budget into labor, material, contracts and other; check license utilization, contract rates against market, idle cloud capacity and technical debt. iCxO does this from your budget, contracts and cloud bills in hours.
Revenue: SEC EDGAR XBRL company facts, latest annual 10-K (fiscal year ended Dec 31, 2025). Benchmark: iCxO energy & utilities IT-spend model. IT budgets on this page are estimates and are not endorsed by or reported by the utilities named. Questions: customersupport@icxoglobal.com