Pros
work life balance, good pay and bonus. Utility companies have almost zero competition and its essential for living, so there are always paying customers, that means stability and profits. Its a decent place to retire, if thats the intent. What helps is 'keep your head down' (this was advise from an actual retiree) and say 'yes boss'. A lot of people are there to retire and they will defend it with everything, so don't come in their way and you are good.
Cons
extremely slow career growth, if at all. toxic env and managers will push back against any good idea, if its not theirs or if they can't understand it. 401K vests in 3 years, so there is high churn in new joinees, some leave because they love their career, some let go before vesting kicks in and some wait it out to 3 years and leave. Customer satisfaction is abysmal, but there is little desire to improve. Strategy changes frequently, teams are restructured and everything restarts, but not much changes.