Industry Code: 57400
This industry consists of businesses that operate independently from municipalities and are involved in the provision of electric utilities services or natural gas utilities. Companies in this industry sell and/or distribute electricity or natural gas at the commercial and retail levels. This includes providing electricity or gas to private homes, apartments, office buildings, factories, etc.
Operation Details:
This industry covers the operation and maintenance of electric generating facilities and substations, as well as the construction and maintenance of power lines. There are three major areas within the electrical industry: generation (power plants), transmission / distribution (high / low voltage lines delivering electricity) and retail sales (electricity / consumers).
The generating, distribution and sale of power, whether done as an integrated service or not, is classified in this industry.
The construction of power lines includes the power augering of holes, erection of poles and transformers, hooking up and repairing of lines and the installation of underground equipment, where necessary.
Natural gas is primarily distributed by pipeline from its location of production to various points of consumption. There are three main areas in natural gas distribution: production (oil / gas companies), transmission / distribution (distribution companies) and retail sales (natural gas / consumers). Therefore, included in this industry is the company's total utility operation, inclusive of all installation, sales of natural gas appliances and service, billing, pipelines, maintenance, and administrative activities.
Deregulation within the natural gas utility industry has resulted in delineation of gas distribution and merchant or sales functions of the industry. Businesses that market and sell natural gas and do not provide the distribution function are included in this industry.
Rural Electrification Associations (REA) or independent cooperatives, referred to as rural gas co-ops, established in rural municipalities to distribute natural gas and related products, are classified here.
Rural Electrification Associations' (REA) mandate is to provide electric utility services to their rural customers. Their operations have changed since de-regulation and they now accomplish this through:
- remaining just wire owners (statutory retailers) and contracting investor-owned utilities to operate their system,
- operating as wire service provider,
- operating as full distribution utilities (responsible for all operation and maintenance services including sale, administration and billing).
Underwriting Considerations:
Companies engaged to specifically provide contract meter reading services to electric utility companies are also covered in this industry. These employers are responsible for recording meter readings for industrial, commercial and residential users within specified districts and reporting those readings to the utility company.
A utility operated by a municipality to serve its own taxpayer base, is considered part of the overall business of the municipality and classified in the respective municipal government classification.
Construction companies contracted to provide a specific service are classified in the appropriate trade industry. For example, the installation of underground power lines is classified in industry 40901; Rural Electrification Associations contracted for brush cutting around power lines are classified in industry 02200.
Businesses engaged to specifically provide contract meter reading services to natural gas distributors are also covered in this industry. These businesses are responsible for recording meter readings for industrial, commercial and residential users within specified districts and reporting those readings to the gas company.
Businesses engaged in only one segment of the industry will be classified in the appropriate trade industry. For example, contractors engaged specifically to construct pipelines are classified in industry 40905, Pipeline Construction.
Propane sales and distribution is classified in industry 60800, Sale/Distribution of Bulk Petroleum Products.
Industry Custom Pricing: Modified Experience Rating
This industry has chosen to participate in Industry Custom Pricing effective January 1, 2015. For employers participating in the Experience Rating Plan for Large Employers, the following experience rating features will be used in determining their premium rate:
- Maximum discount or surcharge of 60%
- Participation rate of 1% for every $2000 in premiums
- Maximum participation of 100%
- Maximum experience used of 100%
Premium Rate History:
Activities:
Gas Meter Reading
Gas, Natural - Utility
Natural Gas, Utility
Electric Power Companies
Meter Reading, Electric
Power and Light Operations
Rural Electrification Associations
Electric, Utility
Utility - Electric
Utility - Natural Gas
Electric Meter Reading
Rate Group History:
This industry forms its own rate group. Industry 57200, Electric Power Companies was consolidated into Industry 57400 on January 1, 2014.
This industry consists of businesses that operate independently from municipalities and are involved in the provision of electric utilities services or natural gas utilities. Companies in this industry sell and/or distribute electricity or natural gas at the commercial and retail levels. This includes providing electricity or gas to private homes, apartments, office buildings, factories, etc.
Premium Rate History:
Activities:
Gas Meter Reading
Gas, Natural - Utility
Natural Gas, Utility
Electric Power Companies
Meter Reading, Electric
Power and Light Operations
Rural Electrification Associations
Electric, Utility
Utility - Electric
Utility - Natural Gas
Electric Meter Reading
Operation Details:
This industry covers the operation and maintenance of electric generating facilities and substations, as well as the construction and maintenance of power lines. There are three major areas within the electrical industry: generation (power plants), transmission / distribution (high / low voltage lines delivering electricity) and retail sales (electricity / consumers).
The generating, distribution and sale of power, whether done as an integrated service or not, is classified in this industry.
The construction of power lines includes the power augering of holes, erection of poles and transformers, hooking up and repairing of lines and the installation of underground equipment, where necessary.
Natural gas is primarily distributed by pipeline from its location of production to various points of consumption. There are three main areas in natural gas distribution: production (oil / gas companies), transmission / distribution (distribution companies) and retail sales (natural gas / consumers). Therefore, included in this industry is the company's total utility operation, inclusive of all installation, sales of natural gas appliances and service, billing, pipelines, maintenance, and administrative activities.
Deregulation within the natural gas utility industry has resulted in delineation of gas distribution and merchant or sales functions of the industry. Businesses that market and sell natural gas and do not provide the distribution function are included in this industry.
Rural Electrification Associations (REA) or independent cooperatives, referred to as rural gas co-ops, established in rural municipalities to distribute natural gas and related products, are classified here.
Rural Electrification Associations' (REA) mandate is to provide electric utility services to their rural customers. Their operations have changed since de-regulation and they now accomplish this through:
- remaining just wire owners (statutory retailers) and contracting investor-owned utilities to operate their system,
- operating as wire service provider,
- operating as full distribution utilities (responsible for all operation and maintenance services including sale, administration and billing).
Underwriting Considerations:
Companies engaged to specifically provide contract meter reading services to electric utility companies are also covered in this industry. These employers are responsible for recording meter readings for industrial, commercial and residential users within specified districts and reporting those readings to the utility company.
A utility operated by a municipality to serve its own taxpayer base, is considered part of the overall business of the municipality and classified in the respective municipal government classification.
Construction companies contracted to provide a specific service are classified in the appropriate trade industry. For example, the installation of underground power lines is classified in industry 40901; Rural Electrification Associations contracted for brush cutting around power lines are classified in industry 02200.
Businesses engaged to specifically provide contract meter reading services to natural gas distributors are also covered in this industry. These businesses are responsible for recording meter readings for industrial, commercial and residential users within specified districts and reporting those readings to the gas company.
Businesses engaged in only one segment of the industry will be classified in the appropriate trade industry. For example, contractors engaged specifically to construct pipelines are classified in industry 40905, Pipeline Construction.
Propane sales and distribution is classified in industry 60800, Sale/Distribution of Bulk Petroleum Products.
Industry Custom Pricing: Modified Experience Rating
This industry has chosen to participate in Industry Custom Pricing effective January 1, 2015. For employers participating in the Experience Rating Plan for Large Employers, the following experience rating features will be used in determining their premium rate:
- Maximum discount or surcharge of 60%
- Participation rate of 1% for every $2000 in premiums
- Maximum participation of 100%
- Maximum experience used of 100%
Rate Group History:
This industry forms its own rate group. Industry 57200, Electric Power Companies was consolidated into Industry 57400 on January 1, 2014.