Global Utilities Potentially Undervalued Companies

Shaanxi Provincial Natural GasLtd

Market Cap: CN¥9.0b

A natural gas company, engages in the planning, construction, operation, management, and distribution of natural gas in Shaanxi Province, China.

CNTEE Transelectrica

Market Cap: RON 4.2b

CNTEE Transelectrica SA acts as a transmission and system operator of the national power system.

Origin Energy

Market Cap: US$21.3b

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.

RWE

Market Cap: €25.5b

Generates and supplies electricity from renewable and conventional sources in Germany, the United Kingdom, rest of Europe, North America, and internationally.

E.ON

Market Cap: €40.4b

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

SIIC Environment Holdings

Market Cap: €463.6m

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.

ATCO

Market Cap: €5.4b

Engages in the energy, logistics and transportation, shelter, and real estate services in Canada, Australia, and internationally.

AGL Energy

Market Cap: €5.9b

Supplies energy and other essential services in Australia.

S.N.T.G.N. Transgaz

Market Cap: RON 9.1b

Engages in the operation of natural gas transmission system in Romania.

Centrica

Market Cap: UK£7.8b

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

Acciona

Market Cap: €9.2b

Engages in the energy, infrastructure, and other businesses in Spain and internationally.

Boralex

Market Cap: CA$2.7b

Engages in the developing, building, and operating power generating and storage facilities in Canada, France, and the United States.

E.ON

Market Cap: US$40.4b

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

7C Solarparken

Market Cap: €140.6m

Owns and operates PV farms in Germany and Belgium.

AES

Market Cap: €8.9b

Operates as a power generation and utility company in the United States and internationally.

Toplofikatsia-Ruse AD

Market Cap: лв221.1m

Produces and sells electricity and thermal energy in Bulgaria.

Tenaga Nasional Berhad

Market Cap: US$77.4b

Engages in the generation, transmission, distribution, and sale of electricity in Malaysia, the United Kingdom, Kuwait, the Republic of Ireland, Australia, and internationally.

Centrica

Market Cap: €7.8b

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

REN - Redes Energéticas Nacionais SGPS

Market Cap: €1.9b

Engages in the transmission of electricity and natural gas in Portugal.

Wise Energy

Market Cap: zł35.4m

Engages in the sale of electricity in Poland.

Zespól Elektrocieplowni Wroclawskich KOGENERACJA

Market Cap: €852.3m

Zespól Elektrocieplowni Wroclawskich KOGENERACJA S.A.

Veolia Environnement

Market Cap: €20.5b

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

Northland Power

Market Cap: €5.9b

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

Scan Inter

Market Cap: ฿667.5m

Primarily engages in trading natural gas through natural gas vehicle (NGV) service stations in Thailand.

YTL Corporation Berhad

Market Cap: US$30.9b

Operates as an integrated infrastructure developer.

naturenergie holding

Market Cap: CHF 1.1b

Through its subsidiaries, engages in the production, distribution, and sale of electricity under the naturenergie brand in Switzerland and internationally.

Ping Ho Environmental Technology

Market Cap: NT$1.6b

Ping Ho Environmental Technology Co., Ltd.

Electro Sur EsteA

Market Cap: S/122.8m

Engages in the distribution of electricity in Peru.

Societatea Energetica Electrica

Market Cap: €6.7b

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

Electricity Generating

Market Cap: ฿60.8b

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.

Top Energy CompanyShanxi

Market Cap: CN¥6.6b

Engages in the thermal power generation, power transmission, and distribution business in China.

Guangdong Investment

Market Cap: HK$47.5b

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.

YTL Corporation Berhad

Market Cap: RM 30.9b

Operates as an integrated infrastructure developer.

Asiatic Group (Holdings)

Market Cap: S$9.7m

An investment holding company, provides energy services and fire protection solutions in Singapore, Cambodia, and internationally.

China Oil And Gas Group

Market Cap: HK$745.1m

An investment holding company, engages in the natural gas and energy-related businesses in Hong Kong, Mainland China, and Canada.

Huadian Power International

Market Cap: HK$64.0b

Engages in the sale of power fand thermal products in the People’s Republic of China.