Public service is a service intended to serve all members of a community. A public service company or public utility company is a corporation or other non-governmental business entity (i.e. limited partnership) which delivers public services – certain services considered essential to the public interest. Public utilities are those business undertakings which provide necessary services to the society. The ranks of such companies include public utility companies like natural gas, pipeline, electricity, and water supply companies, sewer companies, telephone companies, and telegraph companies. The undertakings dealing with the supply of electricity, gas, power, water, and transport, etc. are all covered under public utility services. They also include public services such as transportation of passengers or property as a common carrier, such as airlines, railroads, trucking, bus, and taxicab companies. All these things are needed in the day-to-day life of the people.
Public service (or utility) companies may operate under certificates of public convenience and necessity which may limit competition. Public utilities tend to be monopoly concerns. Their services may be subject to rate control and other regulations which are not common to general businesses. The entry of other entrepreneurs in these fields is generally barred by the government. They support the Government in achieving positive budget outcomes by strengthening the capacity of the government sector workforce.
Public utilities are meant for serving the consumers. They are a private corporation that supplies some essential commodity or service to the public, under governmental regulation. The concept of public service companies was that, in order to attract sufficient private investment capital and guarantee sufficient revenues to ensure appropriate operations and services, protection from ruinous competition and additional governmental oversight of rates and services were required to balance the needs of the owners of the business with those of the general public. The supply of services like electricity, water, power, transport should be adequately maintained. They are providing essential services, such as water or electricity, to the public. They improve the capability of the government sector to provide strategic and innovative policy advice, implement the decisions of the Government, and meet public expectations.
Public service is a service that is provided by government to people living within its jurisdiction, either directly or by financing private provision of services. Under concepts of deregulation, many principles under which public service companies have long operated are negated and replaced by those of a competitive market. The term is associated with a social consensus that certain services should be available to all, regardless of income. They may attract people with a public service ethos who wish to give something to the wider public or community through their work.