|Type||State-owned enterprise of the United Commonwealth|
United Commonwealth |
Kingdom of Sierra
|Industry||Electric distribution, Electric utility,|
|Products||Electricity, aircraft engines, electric motors, lighting and healthcare|
|Services||Electric grid, electric distribution|
|Owner(s)||Government of the United Commonwealth|
|Parent||Continental Industrial Syndicate|
|Subsidiaries||Tennessee Valley Authority|
Continental Electric & Power (NYSE:CEP, PSE:CES) commonly known as Continental Electric and formerly known as the Continental Electric Syndicate is a Continental multinational corporation headquartered in Chicago. It is the sole electric utility in the United Commonwealth, and is responsible for the generation, transmission and distribution of electricity within the nation. It's manufacturing venture, Continental Electric Appliances produces a large share of the nation's aircraft engines, electric motors, lighting and healthcare. Established in 1920 after the Continental Revolutionary War, the 1st National Committee seized the properties of local utilities and General Electric. Prior to the 1983 reforms, the company wielded incredible power within the nation's media, finances and military-industrial complex.
Continental Electric is a state-owned enterprise controlled by the Continentalist Party and it's Central Committee, and is the sole provider within the nation; outside of the country it operates as a competitor in the Kingdom of Sierra, the Northeast Union and Brazoria. In 1983, the government of the United Commonwealth sold 49% of the shares of the countries foreign subsidiaries to private investors, as part of agreement to operate within other CAS member states. It has consistently ranked in the Fortune Global 500, ranking as the 9th largest corporation in the world. Continental Electric is a member of the World Energy Council, the World Nuclear Association and the World Association of Nuclear Operators.
It is the largest electrical distributor in North America, maintaining an extensive electrical grid and several thousands of power plants. It is the largest operator of nuclear power plants in the world and maintains several dams through its subsidiary the Tennessee Valley Authority. It has been criticized by environmentalists, domestic and abroad as being a large contributor to climate change as it was the sole provider of electricity during the United Commonwealth's industrial growth. In 2008 it was provided a series of large subsidiaries by the Continentalist government to transition to renewable energy, with the government initially mandating it focus on wind and solar, this changed during the Great Recession as the government feared public retaliation from increased energy prices. Throughout the 2010s, Continental Power ceased the construction of new coal fired plants, allowing only new plants which utilized natural gas and nuclear energy.
In 2018, a study done by the National Committee of Energy Security stated that Continental Electric's dependence on Brazorian and Sierran uranium mining operations posed the the greatest risk to Continental security. Continental authorities having worried since the 1960s about the possibility of peak uranium, have invested in billions to develop breeder reactors that would provide for the nations future electrical demand. In 2016, it opened the worlds first sodium-cooled fast breeder reactor, that currently produces 1,090 MW of electrical power. Through its Global Cooperation for Clean Energy, Continental Energy has sponsored new green energy initiatives in developing nations in an attempt to reverse the affects of climate change. Abroad, its energy subsidiaries in Brazoria and the Kingdom of Sierra are controversial, with both states legislating heavily against it.
The Continental Electrical Workers Union is the companies mandated labor union that represents all of its workers. The CEWU is considered widely by many labor activists as a "declawed union" as the government has forced a no-strike clause on the union as Continental Electric is considered a sensitive and important industries within the country. It is one of several unions forced under this designation, with the Continental Postal Workers Union, Continental Educational Workers Union, Continental Law Enforcement Union being other examples of government mandated unions which are unable to preform any sort of strike action. After the 1983 reforms, the government placed salary caps within the company and incorporated an increasingly rigged work schedule that brought about increased efficiency and worker output.