German Utilities Potentially Undervalued Companies

Companhia Energética de Minas Gerais - CEMIG

Market Cap: €34.1b

Through its subsidiaries, engages in the generation, transmission, distribution, and sale of energy in Brazil.

Towngas Smart Energy

Market Cap: €14.1b

An investment holding company, sells piped gas, renewable energy, and other types of energy in the People’s Republic of China.

Neoenergia

Market Cap: €28.5b

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

TTW

Market Cap: €35.9b

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

Rubis

Market Cap: €2.9b

Engages in the operation of bulk liquid storage facilities for commercial and industrial customers in Europe, Africa, and the Caribbean.

E.ON

Market Cap: €41.9b

Operates as an energy company in Germany, the United Kingdom, Sweden, the Netherlands, rest of Europe, and internationally.

MVV Energie

Market Cap: €2.0b

Provides electricity, heat, gas, water, and waste treatment and disposal products primarily in Germany.

China Resources Gas Group

Market Cap: €46.3b

An investment holding company, engages in the sale of natural and liquefied gas and connection of gas pipelines.

Pennon Group

Market Cap: €1.4b

Provides water and wastewater services for household and non-household customers in the United Kingdom.

AB Kauno Energija

Market Cap: €76.2m

Together with its subsidiary UAB GO Energy LT, generates and supplies heat to consumers in the cities of Kaunas and Jurbarkas in Lithuania.

Guangdong Investment

Market Cap: €45.0b

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.

MVV Energie

Market Cap: €2.0b

Provides electricity, heat, gas, water, and waste treatment and disposal products primarily in Germany.

Engie

Market Cap: €47.2b

Operates as an energy company, engages in the renewables and decentralized, low-carbon energy networks, and energy services businesses in France, Europe, North America, Asia, the Middle East, Oceania, South America, Africa, and internationally.

Mainova

Market Cap: €2.3b

Operates as an energy service provider in Germany.

ABO Energy GmbH KGaA

Market Cap: €398.3m

Develops renewable energy projects in Germany and internationally.

Engie

Market Cap: €47.2b

Operates as an energy company, engages in the renewables and decentralized, low-carbon energy networks, and energy services businesses in France, Europe, North America, Asia, the Middle East, Oceania, South America, Africa, and internationally.

Tianjin Development Holdings

Market Cap: €2.6b

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

Mon Courtier Energie Groupe

Market Cap: €20.0m

Operates energy brokerage network in France.

Guangdong Investment

Market Cap: €45.0b

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.

China Gas Holdings

Market Cap: €44.1b

An investment holding company, operates as a gas operator and service provider in the People’s Republic of China.

Datang International Power Generation

Market Cap: €57.3b

Engages in power generation business in the People’s Republic of China.

Kenon Holdings

Market Cap: €8.2b

Through its subsidiaries, operates as an owner, developer, and operator of power generation facilities in Israel and the United States.

Engie Brasil Energia

Market Cap: €34.0b

Generates, sells, and trades in electrical energy in Brazil.

MPC Energy Solutions

Market Cap: €240.3m

An independent power producer, develops, builds, owns, and operates renewable energy assets in Latin America and the Caribbean.

OPG Power Ventures

Market Cap: €35.1m

Develops, owns, operates, and maintains private sector power projects in India.

TransAlta

Market Cap: €5.0b

Engages in the development, production, and sale of electric energy.

Avista

Market Cap: €2.9b

Operates as an electric and natural gas utility company in the United States.

Zespól Elektrocieplowni Wroclawskich KOGENERACJA

Market Cap: €946.2m

Zespól Elektrocieplowni Wroclawskich KOGENERACJA S.A.

Hokuriku Electric Power

Market Cap: €154.1b

Supplies electricity through integrated power generation, transmission, and distribution systems in Japan.

SIIC Environment Holdings

Market Cap: €417.3m

An investment holding company, engages in the wastewater treatment, water supply, sludge treatment, solid waste incineration, and other environment related businesses primarily in the People's Republic of China.

Polaris Renewable Energy

Market Cap: €258.5m

Engages in the acquisition, exploration, development, and operation of renewable energy projects in Latin America and the Caribbean.

Dominion Energy

Market Cap: €41.5b

Provides regulated electricity and natural gas services in the United States.

China Power International Development

Market Cap: €38.1b

An investment holding company, develops, constructs, owns, operates, and manages power plants in the People’s Republic of China and internationally.

TTW

Market Cap: €35.9b

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

Drax Group

Market Cap: €2.4b

Engages in renewable power generation in the United Kingdom.

Chugoku Electric Power

Market Cap: €277.1b

Engages in generation, transmission, and distribution of electric power in Japan.