Pros
For the most part, it's a good company to be a part of. Compensation is below the market rate, but that is not surprising for a utility. Work-life balance is good and benefits are average. 9/80's are a perk, but that seems to be the going rate for many energy companies. Corporate culture seems to be improving, though you do still see that "old boys club" mentality at times.
Cons
The majority of employees at this company have been here most of their careers (20-30 yrs) so one of the primary challenges is a resistance to change. Also I think tenure/years at the company is rewarded more than exemplary work, or even education sometimes. It's incredibly frustrating. Soon, a large chunk of the employee population is going to retire and knowledge transfer is going to be an issue. Not much room for growth in every department, only some.