Other way around if you ask me... Equipment is the actual piece of, well, equipment. Fixtures are the outlets, sockets, switches and stuff.
Well, at least that's how I define them.

Thanks, Martijn. I think we actually agree - by distribution, I was thinking about switchboards, panels, transformers, etc. I think I have some semantic issues since I really have no idea how the systems part of Revit MEP works (shame on me...)
I was basing my assumption on the fact that there are ceiling and wall hosted fixture templates. Why would you typically need a ceiling hosted electrical panel or transformer? The "stuff" we are talking about (fixtures) are the parts of the electrical system that architects tend to care most about - the stuff that users interract with and see in the building - not the stuff in the electrical rooms.