The FCC's reallocation of 900 MHz spectrum for private utility broadband use created a dedicated wireless band for electric, gas, and water utilities to build interference-free operational networks, a regulatory decision that underpins Anterix's entire business model. Private LTE networks operating on licensed 900 MHz spectrum offer utilities advantages over both public carrier networks and unlicensed Wi-Fi bands, including predictable coverage, security, and quality-of-service guarantees critical for grid automation. The total addressable market for utility private broadband infrastructure is estimated in the billions of dollars as utilities replace legacy narrowband radio systems with modern IP-based solutions. Anterix's fiscal 2026 results, including $127 million in cash collected and four new utility customers, indicate that this market is moving from early trials to broader commercial rollout.