The Sacramento Municipal Utility District (SMUD) owns and operates an electric system that has provided retail electric service since 1947. SMUD is one of the ten largest publicly owned utilities in the United States. SMUD assets include generation, transmission, distribution, and general plant. SMUD serves approximately 655,000 customers (577,000 residential, 77,000 commercial and other customers) in its current service area of approximately 900 square miles covering the principal parts of Sacramento County and a small adjoining portion of Placer County. SMUD’s annual revenues are approximately $2.1 billion.