U.S. Utilities Potentially Undervalued Companies

Central Puerto

Market Cap: US$3.1t

Engages in the electric power generation activities in Argentina.

Engie Brasil Energia

Market Cap: US$37.0b

Engages in the generation, commercialization, trading, and transmission activities in Brazil.

Tenaga Nasional Berhad

Market Cap: US$84.3b

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

AES

Market Cap: US$10.5b

Operates as a power generation and utility company.

Eversource Energy

Market Cap: US$26.0b

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

Edison International

Market Cap: US$26.8b

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

China Water Affairs Group

Market Cap: US$7.8b

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

ENN Energy Holdings

Market Cap: US$65.3b

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

Pampa Energía

Market Cap: US$6.4t

Operates as an integrated power company in Argentina.

NRG Energy

Market Cap: US$28.3b

Operates as an energy and home services company in the United States and Canada.

Companhia Paranaense de Energia - COPEL

Market Cap: US$44.9b

Engages in the research, study, planning, construction, production, transformation, transportation, distribution, and commercialization of electricity in Brazil.

ENN Energy Holdings

Market Cap: US$65.3b

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

Light

Market Cap: US$1.1b

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

Interconexión Eléctrica E.S.P

Market Cap: US$31.5t

Engages in the electric power, roads, and ICT and telecommunications business activities.

AGL Energy

Market Cap: US$6.1b

Supplies energy and other essential services in Australia.

AGL Energy

Market Cap: US$6.1b

Supplies energy and other essential services in Australia.

Korea Electric Power

Market Cap: US$25.3t

Engages in the generation, transmission, and distribution of electricity in South Korea and internationally.

CGN Power

Market Cap: US$208.2b

Operates and manages nuclear power stations, sells electricity generated by these stations, and provides related technical services in the People’s Republic of China.

Datang International Power Generation

Market Cap: US$73.6b

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

China Resources Gas Group

Market Cap: US$42.6b

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

Origin Energy

Market Cap: US$19.1b

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.

Spruce Power Holding

Market Cap: US$51.6m

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

Dominion Energy

Market Cap: US$59.6b

Provides regulated electricity and natural gas services in the United States.

China Resources Power Holdings

Market Cap: US$104.6b

An investment holding company, invests in, develops, operates, and manages power plants and coal mines in the People’s Republic of China.

Tianjin Development Holdings

Market Cap: US$2.8b

Through its subsidiaries, supplies water, heat, thermal power, and electricity to industrial, commercial, and residential customers in the People’s Republic of China.

Compañía de Transporte de Energía Eléctrica en Alta Tensión Transener

Market Cap: US$1.5t

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

China Resources Gas Group

Market Cap: US$44.1b

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

Neoenergia

Market Cap: US$30.3k

Generates, transmits, distributes, trades in, and commercializes electric energy in Brazil.

UGI

Market Cap: US$7.5b

Engages in the distribution, storage, transportation, and marketing of energy products and related services in the United States and internationally.

Perusahaan Gas Negara (Persero)

Market Cap: US$44.2t

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

Constellation Energy

Market Cap: US$101.6b

Produces and sells energy products and services in the United States.

Caribbean Utilities Company

Market Cap: US$595.0m

Engages in the electricity generation, transmission, distribution, and telecommunication in Grand Cayman.

Hallador Energy

Market Cap: US$830.0m

Through its subsidiaries, operates as an independent power producer and fuel company in the United States.

China Gas Holdings

Market Cap: US$41.1b

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

naturenergie holding

Market Cap: US$1.1b

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

Public Power

Market Cap: US$6.9b

Generates, transmits, and distributes electricity in Greece, Romania, Bulgaria, and North Macedonia.