Visualcapitalist iconVisualcapitalistSep 29, 2026 ~5 min source read

Magic Radar 2026: How U.S. Investor-Owned Utilities Stack Up on Decarbonization

A single visual combines emissions intensity, target timing, and disclosure breadth for 47 U.S. investor-owned utilities, revealing where low carbon intensity, early targets, and comprehensive Scope 3 reporting overlap — and where they don’t.

Magic Radar 2026: How Do U.S. Utilities Compare on Decarbonization?

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Useful takeaways from this story.

PSEG, Avangrid, and PG&E report the lowest emissions intensity among the 47 utilities analyzed, with PSEG’s intensity reported as 0.0001 tCO₂e/MWh.

Net-zero target decades vary widely: Avangrid targets the 2030s, several utilities target the 2040s, but many set goals in the 2050s or have no net-zero target.

Scope 3 reporting coverage differs a lot: TransAlta reports 11 Scope 3 categories, Southern Company reports 10, while some utilities report zero or only one category.

The useful part

Published September 29, 2026 8:47 am | 913 views --> By Ryan Bellefontaine Design Abha Patil The following content is sponsored by The National Public Utilities Council. Key Takeaways PSEG has the lowest emissions intensity among the major investor-owned utilities in the U.S., followed by Avangrid and PG&E. Avangrid sits in the 2030s target group, the earliest decade shown in the dataset.

How it works

  • This graphic, in partnership with the Natio n al Public Utilities Council, shows the decarbonization profiles of 47 U.S.
  • Here is a table that shows emissions intensity, reporting coverage, and net-zero goal decade for the 47 utilities.
  • § indicates purchased power is not included for the utility's relevant emissions data.
  • ❌ indicates the utility had not released full 2024 data when the data was collected this year.
  • TransAlta reports the broadest Scope 3 disclosures with 11 categories, followed by Southern Company with 10.

What to take from it

However, more categories do not automatically indicate greater transparency because not every Scope 3 category applies equally to every utility. TransAlta reports 11 Scope 3 categories, the broadest coverage shown. power sector is balancing rising electricity demand with the push toward lower-carbon generation.

Example or evidence

  • A Broader View of Utility Decarbonization The Magic Radar does not rank utilities.
  • Instead, it combines emissions intensity, target timing, Scope 1 and 2 reporting, and the breadth of reported Scope 3 categories.
  • Values with this symbol are therefore not directly comparable on exactly the same reporting boundary.
  • PSEG's rounded intensity is 0.00, but is precisely 0.0001 tCO₂e/MWh, while Avangrid and PG&E each report 0.08.

Details worth keeping

PSEG, Avangrid, and PG&E stand out for low reported emissions intensity. Separately, the California Energy Commission reports that PG&E-owned Diablo Canyon supplies about 17% of California's zero-carbon electricity, adding context to the utility's low reported emissions intensity. Meanwhile, renewables have reached new highs in U.S.

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  • Fool: Cameco generates $775M in free cash flow with a 17% net margin, while USA Rare Earth burns cash as it scales. The valuation gap tells a starkly different investment story.
  • Blogspot: When we talk about ener.gy transition, much of the attention goes to solar panels, wind turbines and other energy technologies.

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