It depends. As a software engineer, all I need is my kitchen table, or the couch, or the cafe down the street.
> more utility usage (internet, electricity, heating)
Totally worth it for thermostat control and to not freeze my ass off in November.
> reduced potential for socializing
If you're dependent on work for socializing, well, that's rather sad. I get that because I used to be that way until I realized that 99% of coworkers go along to get along and aren't good friends. They're out of your life as soon as they change jobs. But with extra time from not commuting, it becomes easier to find real friends IRL outside of work.
> and exercising
Uh, did you mean to type that? Because there can only be more time and opportunities to exercise when working remote.
This is partially balanced by not having to commute. The time your colleagues spend in a car every day, you can spend exercising or with your friends. Also, you could set up a timer, and take each hour a 5-minute break to exercise, while your colleagues at work are taking breaks to smoke or drink coffee.
I know a guy who works from home, and he codes while walking on a treadmill. Has more exercise during his 8 hours of coding than many employed people get during their entire day.
Even if that was true, the employee is saving on fuel, time wasted sitting in traffic, vehicle wear and tear, the dangers and liabilities involved with driving, etc.