Meaning

noun a company that performs a public service; subject to government regulation

noun the quality of being of practical use

noun the service (electric power or water or transportation) provided by a public utility

originFrom Middle English utilite, from Old French utilite, utilitet (“usefulness”), from Latin ūtilitās, from uti (“to use”). By surface analysis, utile + -ity.

Etymology from Wiktionary, CC BY-SA 3.0