RRI, people need electricity even when the economy slows down. Take a look at this chart pattern for RRI.
People always need electricity, that's utility companies are able to leverage so much. It's also why utilities have been steadily going up for decades, with only tiny hiccups. Deregulation only adds more fuel to the fire.
Just go through $UTY, any of those are a good steady pick. You can't really go wrong with a big national utility company, very safe, good place to park your money. Search through the competitors and look for smaller ones who have certain regional dominance, those are clear targets for acquisition, especially if they have cleaner sources of generation. ORA could be ready to break out. Funds can't find another comparable to put their money into. That's more generation rather than full service utility, but same arena. I'm looking at EPG and USEY also. Got some history with USEY.
The whole sector is doing the same thing. A basket of utitlies based on locales would be a wise way to go. Or at least target main deregulation regions.