Global Utilities Potentially Undervalued Companies

Acciona

Market Cap: €9.2b

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

TransAlta

Market Cap: US$5.4b

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

Avista

Market Cap: US$2.9b

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

GAIL (India)

Market Cap: €1.2t

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

SSE

Market Cap: US$18.3b

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

SSE

Market Cap: US$18.3b

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

Energía Latina

Market Cap: CL$42.9b

Engages in the generation and sale of electricity in Chile.

Huadian Power International

Market Cap: US$64.0b

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

SIIC Environment Holdings

Market Cap: US$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.

Societatea Energetica Electrica

Market Cap: €6.7b

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

Alerion Clean Power

Market Cap: €1.0b

Engages in electricity production from wind and solar power in Italy, Spain, Bulgaria, and Romania.

Électricite de Strasbourg Société Anonyme

Market Cap: €1.1b

Engages in the supply of electricity and natural gas to individuals, businesses, and local authorities in France.

Lopez Holdings

Market Cap: ₱15.3b

Through its subsidiaries, engages in the power generation and distribution business in the Philippines.

Vistra

Market Cap: US$70.6b

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

Orygen PerúA

Market Cap: S/8.0b

Engages in the energy and power generation business in Peru.

ENN Energy Holdings

Market Cap: US$71.3b

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

Clover Power

Market Cap: ฿25.6m

Engages in the generation and sale of electricity in Thailand, Australia, and Vietnam.

Huaneng Power International

Market Cap: US$116.1b

Generates and sells electric power to the regional or provincial grid companies in the People’s Republic of China and internationally.

Essential Utilities

Market Cap: €10.4b

Through its subsidiaries, operates regulated utilities that provide water, wastewater, and natural gas services in the United States.

S.N.T.G.N. Transgaz

Market Cap: €9.1b

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

Concord New Energy Group

Market Cap: US$3.1b

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

SIIC Environment Holdings

Market Cap: S$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.

TTW

Market Cap: US$35.9b

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

Adani Power

Market Cap: ₹2.7t

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.

Adani Power

Market Cap: ₹2.7t

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.

Datang International Power Generation

Market Cap: HK$60.4b

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

Guangdong Investment

Market Cap: US$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.

GAIL (India)

Market Cap: US$1.2t

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

Acciona

Market Cap: €9.2b

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

Bestsun Energy

Market Cap: CN¥3.9b

Engages in the city gas business.

AGL Energy

Market Cap: AU$5.9b

Supplies energy and other essential services in Australia.

Huaneng Power International

Market Cap: HK$116.1b

Generates and sells electric power to the regional or provincial grid companies in the People’s Republic of China and internationally.

Kunlun Energy

Market Cap: US$64.3b

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.

SIIC Environment Holdings

Market Cap: HK$461.0m

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.

Beijing Jingneng Clean Energy

Market Cap: HK$20.4b

Generates gas-fired power and heat energy, wind power, photovoltaic power, and hydropower in Mainland China and internationally.

Hokkaido Gas

Market Cap: JP¥58.4b

Engages in gas, and heat and power supply businesses in Japan.