Global Utilities Healthy potentially undervalued

Fujian Funeng

Market Cap: CN¥28.6b

Produces and sells electricity and heat in China.

ENN Natural Gas

Market Cap: CN¥55.4b

Engages in the natural gas business in China and internationally.

PetroVietnam Power Nhon Trach 2

Market Cap: ₫6.1t

Engages in the production, transmission, and distribution of electricity in Vietnam.

ENEA

Market Cap: zł10.4b

Generates, transmits, distributes, and trades in electricity in Poland.

Centrica

Market Cap: UK£7.1b

Operates as an integrated energy company in the United Kingdom, Ireland, Scandinavia, North America, and internationally.

PetroVietnam Power Corporation - JSC

Market Cap: ₫41.0t

Engages in the production and distribution of industrial and consumer electricity in Vietnam.

Perusahaan Gas Negara (Persero)

Market Cap: Rp36.5t

Engages in the transmission and distribution of natural gas in Indonesia.

Mega First Corporation Berhad

Market Cap: RM 2.6b

Engages in renewable energy, resources, and packaging businesses in Malaysia, Lao PDR, other ASEAN countries, India, Bangladesh, Papua New Guinea, the United States, Australia, New Zealand, and internationally.

ENN Energy Holdings

Market Cap: HK$52.5b

An investment holding company, engages in the investment, construction, operation, and management of gas pipeline infrastructure in the People’s Republic of China.

Shenzhen Gas

Market Cap: CN¥18.3b

Provides urban gas, natural gas, and LPG energy.

Hera

Market Cap: €5.7b

A multi-utility company, engages in the waste management, water services, and energy businesses in Italy.

TAURON Polska Energia

Market Cap: zł15.3b

Through its subsidiaries, generates, distributes, and supplies electricity and heat in Poland and the Czech Republic.

AGL Energy

Market Cap: AU$6.1b

Engages in the operation of private electricity generation portfolio in Australia.

Power Grid Corporation of India

Market Cap: ₹2.5t

An electric power transmission utility, engages in the power transmission business in India and internationally.

Ørsted

Market Cap: DKK 177.2b

Owns, develops, constructs, and operates offshore and onshore wind farms, solar farms, and energy storage and combined heat and power (CHP) plants.

Enel Américas

Market Cap: CL$9.0t

Generates, transmits, and distributes electricity in Brazil, Colombia, Central America, Argentina.

Telecom Plus

Market Cap: UK£681.8m

Provides utility services in the United Kingdom.

Emirates Central Cooling Systems

Market Cap: د.إ15.7b

Provides district cooling services in the United Arab Emirates.

GAIL (India)

Market Cap: ₹1.1t

Operates as a natural gas processing and distribution company in India and internationally.

SDIC Power Holdings

Market Cap: CN¥112.5b

Engages in the electricity generation business in China.

Xinyi Energy Holdings

Market Cap: HK$6.9b

An investment holding company, engages in the operations and management of solar and wind farms in the People's Republic of China.

Pampa Energía

Market Cap: AR$6.7t

Operates as an integrated power company in Argentina.

AB Ignitis grupe

Market Cap: €1.6b

Engages in the generation and distribution of electricity and heat in Lithuania, Poland, Latvia, Finland, Estonia, and internationally.

Kunlun Energy

Market Cap: HK$60.7b

An investment holding company, engages in the exploration, development, production, and sale of crude oil and natural gas in the Republic of Kazakhstan, the Sultanate of Oman, and the Kingdom of Thailand.

Northland Power

Market Cap: CA$5.6b

Operates as a power producer in Canada, the Netherlands, Germany, Colombia, Spain, the United States, and internationally.

AXIA Energia

Market Cap: R$145.5b

Through its subsidiaries, engages in the generation, transmission, distribution, and commercialization of electricity in Brazil.

Origin Energy

Market Cap: AU$20.8b

An integrated energy company, engages in the exploration and production of natural gas, electricity generation, wholesale and retail sale of electricity and gas, and sale of liquefied natural gas in Australia and internationally.

Inner Mongolia MengDian HuaNeng Thermal Power

Market Cap: CN¥37.1b

Engages in thermal power generation and heating businesses in China.

Engie Energia Chile

Market Cap: CL$1.9t

Engages in the generation, transmission, and supply of electricity primarily in Chile and Argentina.

Premier Energy

Market Cap: RON 8.2b

Operates as an integrated energy and power infrastructure company in Romania, Moldova, Hungary, and Serbia.

Naturgy Energy Group

Market Cap: €27.4b

Engages in the supply, liquefaction, regasification, transport, storage, distribution, and sale of gas.

Tokyo GasLtd

Market Cap: JP¥2.0t

Engages in the production, supply, and sale of city gas and LNG in Japan.

Aguas Andinas

Market Cap: CL$2.0t

Aguas Andinas S.A., together with its subsidiaries, constructs and operates as a water utility company in Chile.

Genesis Energy

Market Cap: NZ$3.5b

Generates, trades in, and sells electricity to residential and business customers in New Zealand.

Gujarat Energy

Market Cap: ₹249.7b

Engages in the distribution of natural gas in India.

Adani Power

Market Cap: ₹3.9t

Engages in the generation, transmission, and sale of electricity under long term power purchase agreements (PPAs), supplemental PPAs, medium and short term PPAs, and on merchant basis in India.