German Utilities Potentially Undervalued Companies

TPC Consolidated

Market Cap: €39.2m

Provides retail electricity and gas services to residential, commercial, and industrial customers in Australia.

China Power International Development

Market Cap: €34.5b

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

Beijing Enterprises Water Group

Market Cap: €22.5b

An investment holding company, provides water treatment services.

ELL Environmental Holdings

Market Cap: €128.4m

An investment holding company, designs, constructs, operates, and maintains wastewater treatment facilities in the People’s Republic of China and Indonesia.

Telecom Plus

Market Cap: €705.9m

Provides utility services in the United Kingdom.

Hokkaido Gas

Market Cap: €68.7b

Engages in gas business in Japan.

Ørsted

Market Cap: €183.6b

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

Societatea Energetica Electrica

Market Cap: €17.7b

Engages in the operation, construction, and maintenance of electricity distribution networks in Romania.

Électricite de Strasbourg Société Anonyme

Market Cap: €1.2b

Engages in the operation, maintenance, and development of low- and high-voltage electrical networks in France.

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.

China Longyuan Power Group

Market Cap: €110.2b

Engages in new energy power generation in the Chinese Mainland, Canada, South Africa, and Ukraine.

Hallador Energy

Market Cap: €761.8m

Through its subsidiaries, operates as an independent power producer and fuel company in the United States.

GAIL (India)

Market Cap: €1.1t

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

Spruce Power Holding

Market Cap: €35.4m

Owns and operates distributed solar energy assets in the United States.

Scatec

Market Cap: €15.7b

Provides renewable energy solutions.

China Gas Holdings

Market Cap: €30.5b

An investment holding company, operates as an energy supplier and service provider in the People’s Republic of China.

Sichuan Energy Investment Development

Market Cap: €1.9b

A vertically integrated power supplier and service provider primarily in Mainland China.

Towngas Smart Energy

Market Cap: €11.6b

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

Origin Energy

Market Cap: €20.6b

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.

ABO Energy GmbH KGaA

Market Cap: €31.3m

Develops renewable energy projects in Germany and internationally.

CGN New Energy Holdings

Market Cap: €9.1b

Generates and supplies electricity and steam in the People’s Republic of China and Republic of Korea.

Gelsenwasser

Market Cap: €1.9b

Engages in the water, energy, and service businesses in Germany, the Czech Republic, and Poland.

ABO Energy GmbH KGaA

Market Cap: €31.3m

Develops renewable energy projects in Germany and internationally.

Vistra

Market Cap: €49.7b

Operates as an integrated retail electricity and power generation company in the United States.

Constellation Energy

Market Cap: €100.1b

Produces and sells energy products and services in the United States.

Kansai Electric Power Company

Market Cap: €2.7t

Engages in electricity, heat supply, telecommunication, and gas supply in Japan.

DIGITAL GRID

Market Cap: €32.0b

Operates power trading platform in Japan.

China Resources Power Holdings

Market Cap: €94.7b

An investment holding company, invests in, develops, operates, and manages power plants and coal mine projects in the People’s Republic of China.

Naturgy Energy Group

Market Cap: €26.8b

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

Zheneng Jinjiang Environment Holding

Market Cap: €803.1m

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

TTW

Market Cap: €41.5b

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

Hokkaido Electric Power Company

Market Cap: €217.1b

Generates, transmits, and distributes electricity in Japan.

Veolia Environnement

Market Cap: €24.8b

Designs and provides water, waste, and energy management solutions.

A2A

Market Cap: €7.1b

Engages in the production, sale, and distribution of gas and electricity, and district heating in Italy and internationally.

E.ON

Market Cap: €45.6b

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

SDIC Power Holdings

Market Cap: €110.9b

Engages in the electricity generation business in China.