Global Utilities Potentially Undervalued Companies

Centrica

Market Cap: UK£7.9b

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

Enel

Market Cap: US$77.6b

Operates as an integrated operator in electricity and gas industries worldwide.

Fortis

Market Cap: CA$33.9b

Operates as an electric and gas utility company in Canada, the United States, and the Caribbean countries.

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.

EVN

Market Cap: €4.1b

Provides energy and environmental services in Austria, Bulgaria, North Macedonia, Croatia, Germany, and Albania.

Sunnova Energy International

Market Cap: €23.6m

Provides solar energy services in the United States.

Tokyo Electric Power Company Holdings

Market Cap: JP¥698.7b

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

Haiphong Electricity Water Machine Assembly

Market Cap: ₫573.2b

Supplies electricity to households.

Asiatic Group (Holdings)

Market Cap: S$9.7m

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

Gunkul Engineering

Market Cap: ฿18.2b

Generates and sells renewable energy in Thailand, Japan, and Vietnam.

China Smarter Energy Group Holdings

Market Cap: HK$140.6m

An investment holding company, engages in the solar energy business in the People’s Republic of China, Hong Kong, and Singapore.

Light

Market Cap: €1.9b

Engages in the generation, transmission, distribution, and sale of electric power in Brazil.

Hydro One

Market Cap: Mex$22.5b

Through its subsidiaries, operates as an electricity transmission and distribution company in Ontario.

Unipro

Market Cap: ₽92.6b

Public Joint-Stock Company Unipro engages in the production and sale of electricity, and power and heat energy in Russia.

Veolia Environnement

Market Cap: €22.6b

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

Toplofikatsia-Burgas AD

Market Cap: лв49.2m

Engages in the production, transmission, and sale of electricity in Bulgaria.

ATCO

Market Cap: CA$5.7b

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

BKW

Market Cap: US$8.6b

An international energy and infrastructure company, plans, builds, and operates infrastructure to produce and supply energy to businesses, households, and the public sector in Switzerland, Germany, Italy, France, and internationally.

Changchun Gas Co.Ltd

Market Cap: CN¥2.7b

Produces and sells of natural gas in China.

BCPG

Market Cap: ฿20.5b

A renewable energy company, engages in the solar power, hydropower, wind power, and natural gas businesses in Thailand, Japan, Laos, Taiwan, Vietnam, the Philippines, and the United States.

Mahanagar Gas

Market Cap: ₹133.0b

Operates as a natural gas distribution company in India.

China Resources Gas Group

Market Cap: HK$50.2b

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

Foran Energy Group

Market Cap: CN¥13.3b

Foran Energy Group Co., Ltd. transports and sells natural gas in China.

China Southern Power Grid Energy Storage

Market Cap: CN¥31.2b

China Southern Power Grid Energy Storage Co., Ltd.

Pertamina Geothermal Energy

Market Cap: Rp37.8t

Engages in the development of geothermal energy in the upstream and downstream sectors in Indonesia and internationally.

Luenmei QuantumLtd

Market Cap: CN¥13.0b

Engages in the generation and supply of heat, power, and steam in China.

Sunpower Group

Market Cap: S$175.1m

An investment holding company, engages in the investment, development, and operation of centralized heat, steam, and electricity generation plants in the People’s Republic of China.

Chengdu Xingrong Environment

Market Cap: CN¥21.0b

Engages in the water purification, wastewater treatment and reclaimed water utilization, and environmental protection business in China.

GuiZhou QianYuan Power

Market Cap: CN¥6.7b

Engages in the development, operation, and management of hydropower and photovoltaic power stations in China.

Tian Lun Gas Holdings

Market Cap: HK$2.5b

Engages in the transportation, distribution, and sale of natural gas and compressed natural gas through its gas pipeline connections in the People’ Republic of China.

GAIL (India)

Market Cap: ₹1.2t

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

Binhai Investment

Market Cap: HK$1.5b

An investment holding company, operates in gas business in the People’s Republic of China.

SPCG

Market Cap: ฿8.3b

Produces and distributes electricity from solar energy in Thailand and internationally.

China Datang Corporation Renewable Power

Market Cap: HK$15.8b

Engages in the development, investment, construction, and management of wind, solar, and biomass power sources the People's Republic of China.

NLC India

Market Cap: ₹315.2b

Operates in the mining and power generation business in India.

Malakoff Corporation Berhad

Market Cap: RM 3.9b

An investment holding company, operates as an independent power production and supply, and environmental management company in Malaysia.