This character is a Other Symbol and is commonly used, that is, in no specific script. The character is also known as power plant and power substation.
The glyph is not a composition. Its width in East Asian texts is determined by its context. It can be displayed wide or narrow. In bidirectional text it acts as Other Neutral. When changing direction it is not mirrored. If its East Asian Width is “narrow”, U+26EE forms a word with similar characters, which prevents a line break inside it. Otherwise it allows line breaks around it, except in some numeric contexts.
The Wikipedia has the following information about this codepoint:
A power station, also referred to as a power plant and sometimes generating station or generating plant, is an industrial facility for the generation of electric power. Power stations are generally connected to an electrical grid.
Many power stations contain one or more generators, rotating machine that converts mechanical power into three-phase electric power. The relative motion between a magnetic field and a conductor creates an electric current.
The energy source harnessed to turn the generator varies widely. Most power stations in the world burn fossil fuels such as coal, oil, and natural gas to generate electricity. Low-carbon power sources include nuclear power, and use of renewables such as solar, wind, geothermal, and hydroelectric.