The major drawbacks are the compensation which is highly below average, and the complete lack of opportunities for career progression, it's not a place where you want to build a career.
The utilities industry comes with many processes, most of which are very complex and require you to attain a certain level of knowledge, which if you are a software developer would not want to waste time on, not over acquiring technical skills instead. This also means a lot of time is spent on figuring out how something works, manual testing or reproducing, over coding. The amount you spend coding is very little in fact, and you mostly have to debug and fix bugs. Features and improvements are rare, this is definitely not the place for career growth and learning. Also not the easiest or best place for graduates.
Management always talks about how they are working on remediating compensation issues, but in reality not much happens. Whenever they announce some bonus or salary re-calibration, despite doing incredibly well in your job (also reflected in reviews), it doesn't really apply to you or anyone you ask about/ talk to, which makes it clear that the company values their bottom line over employee satisfaction, even when they are doing well financially and growing.
It's worth noting that the company had if not still has a very low retention rate, a lot of people come and go.
