Global Utilities Potentially Undervalued Companies

Sichuan Energy Investment Development

Market Cap: €2.8b

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

China Gas Holdings

Market Cap: €42.7b

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

Pinnacle West Capital

Market Cap: US$10.3b

Through its subsidiary, provides retail and wholesale electric services primarily in the state of Arizona.

Westbridge Renewable Energy

Market Cap: US$67.0m

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

PG&E

Market Cap: US$33.2b

Through its subsidiary, Pacific Gas and Electric Company, engages in the sale and delivery of electricity and natural gas to customers in northern and central California, the United States.

Ferrellgas Partners

Market Cap: US$72.4m

Distributes and retails propane and related equipment and supplies.

Gia Dinh Water Supply

Market Cap: ₫370.5b

Engages in the water collection, treatment, and supply business in Vietnam.

ACEA

Market Cap: €4.1b

Operates as a multi-utility company in Italy.

CGE Transmisión

Market Cap: CL$181.8b

Operates in the electric power transmission sector primarily in the zonal transmission and dedicated transmission segments.

Kenya Power and Lighting

Market Cap: KSh28.1b

Engages in the transmission, distribution, and retail of electricity in Kenya.

Engie Brasil Energia

Market Cap: R$33.4b

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

China Everbright Water

Market Cap: US$715.2m

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

Edison International

Market Cap: €21.4b

Through its subsidiaries, engages in the generation and distribution of electric power.

SamchullyLtd

Market Cap: ₩455.7b

Engages in the supplying of natural gas in South Korea and the United States.

Hokuriku GasLtd

Market Cap: JP¥17.9b

Operates gas business in Japan.

Manila Water Company

Market Cap: ₱97.3b

Provides water treatment and distribution, sewerage, and sanitation services in the Philippines, Indonesia, Vietnam, Thailand, and the Kingdom of Saudi Arabia.

Perusahaan Gas Negara

Market Cap: US$42.8t

Engages in the transmission and distribution of natural gas in Indonesia.

Energy Absolute

Market Cap: ฿26.6b

Engages in the manufacture and distribution of crude palm oil, biodiesel, and glycerol products in Thailand.

REN - Redes Energéticas Nacionais SGPS

Market Cap: US$1.9b

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

Azure Power Global

Market Cap: US$70.6m

Operates as a renewable energy developer and independent renewable power producer in India.

CPFL Energia

Market Cap: R$44.6b

Through its subsidiaries, engages in the electric power business in Brazil.

Shinfox Energy

Market Cap: NT$16.5b

Develops renewable and clean energy plants in Taiwan and Mainland China.

Saibu Gas HoldingsLtd

Market Cap: JP¥71.5b

Produces, supplies, and sells natural gas in Japan.

REN - Redes Energéticas Nacionais SGPS

Market Cap: €1.9b

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

Huaneng Lancang River Hydropower

Market Cap: CN¥165.2b

Engages in the development, construction, operation, and management of hydropower projects.

Central Hydropower

Market Cap: ₫4.8t

Produces, transmits, and distributes electricity in Vietnam.

Kenon Holdings

Market Cap: €7.5b

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

Alsons Consolidated Resources

Market Cap: ₱3.1b

An investment holding company, engages in the energy and power, property development, and other investment businesses in the Philippines.

Sichuan Chuantou EnergyLtd

Market Cap: CN¥69.0b

Engages in the clean energy business in China.

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.

Kunming Dianchi Water Treatment

Market Cap: HK$689.5m

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

China Water Affairs Group

Market Cap: HK$10.0b

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

Thu Duc Water Supply

Market Cap: ₫422.9b

Supplies and trades water for consumption and production needs in Vietnam.

Ninh Binh Thermal Power

Market Cap: ₫150.5b

Engages in the generation of electricity in Vietnam.

GVK Power & Infrastructure

Market Cap: ₹6.3b

Engages in the energy, airport, transportation, hospitality, and life sciences businesses in India and Indonesia.

NTPC

Market Cap: ₹3.3t

Operates as an integrated power company in India.