With the opening of the Pearl Street station in lower Manhattan at 3 o'clock in the afternoon on 4 September 1882, Thomas Edison publicly presented a complete system of commercial electric lighting and power. The success of the Edison bulb created a demand for a source of power. It was this demand that led to the construction of the Pearl Street station and launched the modern electric utility industry. The Pearl Street station featured reliable central power generation, safe and efficient distribution, and a successful end use (that is, his long-lasting incandescent light bulb) at a price that competed with gas lighting.
However, as the article points out later it lost money for the first three years!
http://ethw.org/Pearl_Street_Station
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