Global Utilities Undervalued over 20% based on DCF

TPC Consolidated

Market Cap: AU$90.9m

Provides retail electricity and gas services to residential, industrial, and commercial customers in Australia.

Ping Ho Environmental Technology

Market Cap: NT$1.7b

Ping Ho Environmental Technology Co., Ltd.

EF-ON

Market Cap: JP¥7.9b

Operates as an energy service company in Japan.

Ryazanenergosbyt

Market Cap: ₽3.2b

Joint-Stock Company Ryazanenergosbyt engages in the purchase and sale of electricity in the wholesale and retail markets in the Ryazan Region, Russia.

China Renewable Energy Investment

Market Cap: HK$343.3m

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

Can Don Hydro Power

Market Cap: ₫1.1t

Produces and trades in electricity in Vietnam.

Cholon Water Supply

Market Cap: ₫721.5b

Operates as a water supply company in Vietnam.

Mon Courtier Energie Groupe

Market Cap: €21.2m

Operates energy brokerage network in France.

Nuoc Trong Hydro - Power

Market Cap: ₫556.3b

Engages in the production, transmission, and distribution of hydro-electricity in Vietnam.

Hydro Power - Power No. 3

Market Cap: ₫532.0b

Hydro Power Joint Stock Company - Power No.

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.

Megapower Makmur

Market Cap: Rp101.3b

Operates as an independent power producing company in Indonesia.

Kontrol Technologies

Market Cap: US$5.8m

Through its subsidiaries, provides energy compliance and consulting services in Canada and the United States.

Oceanic Wind Energy

Market Cap: CA$6.1m

Operates as a renewable energy company in Canada.