Electric Power Generation, Transmission and Distribution

Businesses and organizations in the Electric Power Generation, Transmission and Distribution industry (NAICS code 2211, part of the Utilities sector) received 7,567 PPP loans totaling $1.24B during the COVID-19 pandemic.

The average loan for this industry was $164,103 — above the national PPP average of approximately $67,000. This reflects the relatively large size of many businesses in this sector, which tend to have higher payroll costs and more employees.

90.2% of loans in this industry were forgiven — totaling $1.19B. To qualify for forgiveness, borrowers had to demonstrate that they maintained headcount and compensation levels and used at least 60% of loan proceeds for payroll expenses.

Notable recipients in this industry include SUNFLOWER ELECTRIC POWER CORPORATION of HAYS, KS ($10,000,000); NAVAJO TRIBAL UTILITY AUTHORITY of FORT DEFIANCE, AZ ($10,000,000); and BIG RIVERS ELECTRIC CORPORATION of HENDERSON, KY ($9,941,200).

The loan amount distribution for this industry shows a more even spread across loan sizes, suggesting a mix of small and mid-sized businesses. Because borrower names are withheld for loans under $150,000, a substantial portion of recipients in this industry may not appear by name in this dataset.

As part of the broader Utilities sector — electric, natural gas, steam, water, and sewage systems. — businesses in NAICS 2211 were particularly reliant on PPP assistance to bridge the gap between declining revenues and fixed overhead obligations during the shutdown period.