German Utilities Potentially Undervalued Companies

AGL Energy

Market Cap: €6.0b

Supplies energy and other essential services in Australia.

China Water Affairs Group

Market Cap: €8.9b

An investment holding company, engages in the water supply, environmental protection, and property businesses in the People’s Republic of China.

Westbridge Renewable Energy

Market Cap: €46.6m

Engages in the acquisition and development of solar photovoltaic (PV) projects in Canada, the United States, the United Kingdom, and Italy.

Fluence

Market Cap: €91.4m

Provides smart water and wastewater treatment solutions for the municipal, commercial, and industrial markets worldwide.

Kyushu Electric Power Company

Market Cap: €837.1b

Engages in the power generation, transmission, distribution, and retail in Japan and internationally.

Centrica

Market Cap: €9.4b

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

ABO Energy GmbH KGaA

Market Cap: €58.1m

Develops renewable energy projects in Germany and internationally.

TAURON Polska Energia

Market Cap: €16.2b

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

Centrica

Market Cap: €9.4b

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

Telecom Plus

Market Cap: €1.1b

Provides utility services in the United Kingdom.

China Everbright Greentech

Market Cap: €1.7b

An investment holding company, engages in the design, construction, operation, and maintenance of integrated biomass and waste-to-energy projects in China.

PGE Polska Grupa Energetyczna

Market Cap: €21.3b

Engages in the production and distribution of electricity and heat in Poland.

Korea Electric Power

Market Cap: €31.0t

An integrated electric utility company, engages in the generation, transmission, and distribution of electricity in South Korea and internationally.

Concord New Energy Group

Market Cap: €2.3b

An investment holding company, engages in the generation of power in the People’s Republic of China and internationally.

CGN Power

Market Cap: €181.3b

Operates and manages nuclear power stations, sells electricity generated by these stations, and provides related technical services in the People’s Republic of China.

Cikarang Listrindo

Market Cap: €11.5t

Engages in the generation, transmission, and distribution of electricity in Indonesia.

ABO Energy GmbH KGaA

Market Cap: €58.1m

Develops renewable energy projects in Germany and internationally.

China Everbright Water

Market Cap: €658.0m

Engages in the water environment management business in Mainland China and Germany.

Hera

Market Cap: €6.0b

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

Enagás

Market Cap: €3.9b

Engages in the transmission, storage, and regasification of natural gas.

TTW

Market Cap: €36.5b

Engages in the production and sale of treated water in Thailand.

Neoenergia

Market Cap: €40.1b

Generates, transmits, distributes, trades in, and commercializes electric energy in Brazil.

Zheneng Jinjiang Environment Holding

Market Cap: €874.8m

Engages in the generation and sale of electricity and steam in the People’s Republic of China.

Kalina Power

Market Cap: €36.7m

Engages in the power business in Australia, Canada, and the United States.

Guangdong Investment

Market Cap: €48.8b

An investment holding company, engages in water resources, property investment and development, department store operation, hotel ownership, energy project operation and management, and road and bridge operation businesses.

Beijing Enterprises Holdings

Market Cap: €44.9b

Through its subsidiaries, engages in the gas, water, environmental, brewery, and other businesses in Mainland China, Germany, and internationally.

Rivco Australia

Market Cap: €235.4m

Provides water supply solutions to Australian irrigators and farmers.

Mainova

Market Cap: €2.4b

Operates as an energy service provider in Germany.

Kunming Dianchi Water Treatment

Market Cap: €658.6m

Designs, develops, constructs, operates, and maintains water supply and wastewater treatment facilities in the People’s Republic of China.

Tohoku Electric Power Company

Market Cap: €576.4b

Operates as an energy service in Japan and internationally.

Tianjin Development Holdings

Market Cap: €2.8b

Through its subsidiaries, supplies water, heat, thermal power, and electricity to industrial, commercial, and residential customers in the People’s Republic of China.

AES

Market Cap: €10.1b

Operates as a power generation and utility company.

Caribbean Utilities Company

Market Cap: €572.7m

Engages in the electricity generation, transmission, distribution, and telecommunication in Grand Cayman.

Electricity Generating

Market Cap: €57.9b

Generates and sells electricity to government sector and industrial users primarily in Thailand, Laos, the Philippines, Indonesia, Australia, South Korea, Taiwan, and the United States.

Mon Courtier Energie Groupe

Market Cap: €16.0m

Operates energy brokerage network in France.

SDIC Power Holdings

Market Cap: €118.3b

Engages in the electricity generation business in China.