Yes, it’s a standard easement. It happens very often where the utility company doesn’t know where the utilities are going to be placed ahead of time and they want a “placeholder”. The utility company usually has a file or some map where the utilities are and so the easement is around those utilities. Sometimes it’s also obvious such as where they are running the lines to your house from the street. Sometimes it’s hard to tell.
95% of the time there are no problems. However, because of the phrasing, the easement does not have a “set” location and so can cause some problems. It’s not likely to happen, but if the utilities are under the house or if you build something over the utility, you will be liable for any damages (since you dont’ know where the utility is) and of course they can demand that you remove whatever you’ve built over the easement.
Most utility companies are not complete jerks so they will work with you on the easement thing. However, do keep it in mind in case you wish to do any major building or earthwork.
