Global Utilities Potentially Undervalued Companies

Colbún

Market Cap: CL$2.6t

Operates as an electric energy generating company.

Solaria Energía y Medio Ambiente

Market Cap: €1.4b

Generates solar photovoltaic energy.

Enel

Market Cap: US$79.2b

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

A2A

Market Cap: €6.7b

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

BKW

Market Cap: CHF 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.

Unitil

Market Cap: US$809.6m

A public utility holding company, engages in the distribution of electricity and natural gas.

Snam

Market Cap: €16.9b

Engages in the operation of natural gas transport and storage infrastructure.

eVISO

Market Cap: €204.6m

Develops an artificial intelligence platform for the commodities market in Italy.

Eversource Energy

Market Cap: €23.5b

A public utility holding company, engages in the energy delivery business.

Hydro One

Market Cap: €29.1b

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

Holaluz-Clidom

Market Cap: €31.1m

Produces and sells electricity and gas.

Compañía de Transporte de Energía Eléctrica en Alta Tensión Transener

Market Cap: US$804.0b

Compañía de Transporte de Energía Eléctrica en Alta Tensión Transener S.A.

Pampa Energía

Market Cap: US$5.0t

Operates as an integrated power company in Argentina.

CLP Holdings

Market Cap: €166.2b

An investment holding company, engages in the generation, retail, transmission, and distribution of electricity in Hong Kong, Mainland China, India, Thailand, Taiwan, and Australia.

Genesis Energy

Market Cap: €2.6b

Generates, trades in, and sells electricity to residential and business customers in New Zealand.

Superior Plus

Market Cap: €1.7b

Distributes propane, compressed natural gas, and renewable energy and related products and services in the United States and Canada.

Superior Plus

Market Cap: US$1.7b

Distributes propane, compressed natural gas, and renewable energy and related products and services in the United States and Canada.

NorthWestern Energy Group

Market Cap: US$3.4b

NorthWestern Energy Group, Inc., doing business as NorthWestern Energy, provides electricity and natural gas to residential, commercial, and various industrial customers.

Audax Renovables

Market Cap: €631.8m

Engages in the generation and supplying of renewable electricity and gas in Spain, Portugal, Italy, Poland, Germany, Netherlands, France, Panama, and Hungary.

Iren

Market Cap: €3.3b

Operates as a multi-utility company in Italy.

RE Royalties

Market Cap: CA$15.7m

Engages in the acquisition of revenue-based royalties from renewable energy and clean technology companies by providing a non-dilutive royalty financing solution to privately held and publicly traded companies.

PGE Polska Grupa Energetyczna

Market Cap: €24.3b

Engages in the production and distribution of electricity and heat in Poland.

Redeia Corporación

Market Cap: US$8.8b

Engages in the electricity transmission, and system operation and management of the transmission network for the electricity system in Spain and internationally.

PPL

Market Cap: €26.2b

Provides electricity and natural gas to approximately 3.5 million customers in the United States.

Telecom Plus

Market Cap: €1.5b

Provides utility services in the United Kingdom.

Spruce Power Holding

Market Cap: €50.4m

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

Electricity Generating

Market Cap: US$58.7b

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.

Companhia Paranaense de Energia - COPEL

Market Cap: US$26.6b

Engages in the generation, transformation, distribution, and sale of electricity to industrial, residential, commercial, rural, and other customers in Brazil.

Ratch Group

Market Cap: US$53.9b

An energy and infrastructure company, engages in the generation and sale of electricity and steam in Thailand, Australia, Singapore, Indonesia, and internationally.

Audax Renovables

Market Cap: €758.4m

Engages in the generation and supplying of renewable electricity and gas in Spain, Portugal, Italy, Poland, Germany, Netherlands, France, Panama, and Hungary.

Hera

Market Cap: Mex$5.3b

A multi-utility company, engages in the waste management, water services, and energy businesses in Italy.

Hong Kong and China Gas

Market Cap: US$131.6b

Produces, distributes, and markets gas, water supply and energy services in Hong Kong and Mainland China.

Consolidated Edison

Market Cap: €35.0b

Through its subsidiaries, engages in the regulated electric, gas, and steam delivery businesses in the United States.

Snam

Market Cap: €17.0b

Engages in the operation of natural gas transport and storage infrastructure.

Meridian Energy

Market Cap: US$14.8b

Engages in the generation and retailing of electricity to residential, business, and industrial customers in New Zealand, Australia, and the United Kingdom.

Contact Energy

Market Cap: €9.1b

Generates and sells electricity and natural gas in New Zealand.