Global Utilities Low Leverage High Rewards

S.N. Nuclearelectrica

Market Cap: RON 12.2b

Engages in the production and transmission of electricity and thermal energy in Romania.

Enel Generación Chile

Market Cap: CL$3.7t

Engages in the generation, transmission, and distribution of energy in Chile.

Shizuoka Gas

Market Cap: JP¥88.5b

Produces, supplies, and sells city gas in Japan.

Shin Hai Gas

Market Cap: NT$9.1b

Engages in the supply of natural gas in Taiwan.

Gujarat Industries Power

Market Cap: ₹27.6b

Engages in the generation, transmission, and distribution of electricity to power purchasing companies in India.

Top Energy CompanyShanxi

Market Cap: CN¥6.7b

Engages in the thermal power generation, power transmission, and distribution business in China.

ToellLtd

Market Cap: JP¥14.5b

Engages in the production, wholesale, and retail of liquefied petroleum gas (LPG) in Japan and internationally.

Lechwerke

Market Cap: €2.6b

Operates as an energy supplier in Germany.

BKW

Market Cap: CHF 8.7b

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.

Sichuan Chuantou EnergyLtd

Market Cap: CN¥82.8b

Engages in the clean energy business in China.

Shaanxi Provincial Natural GasLtd

Market Cap: CN¥9.5b

A natural gas company, engages in the planning, construction, operation, management, and distribution of natural gas in Shaanxi Province, China.

Zimmite Taiwan

Market Cap: NT$2.3b

Engages in the industrial water treatment activities in Taiwan and China.

ENN Energy Holdings

Market Cap: HK$68.4b

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

EVN

Market Cap: €4.1b

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

Taliworks Corporation Berhad

Market Cap: RM 1.3b

An investment holding company, provides contracting, project, and management services.

Lotus Hydro Power

Market Cap: LK₨1.3b

Owns, builds, operates, and maintains power generating facilities in Sri Lanka.

Summit Power

Market Cap: ৳14.8b

Engages in the generation and supply of electricity in Bangladesh.

AGL Energy

Market Cap: AU$7.2b

Engages in the supply of energy and other essential services to residential, business, and wholesale customers in Australia.

Xinjiang Torch Gas

Market Cap: CN¥2.3b

Operates as a gas service company in China.

Transnational Corporation of Nigeria

Market Cap: ₦470.0b

Together with the subsidiaries, engages in the power, oil and gas, and hospitality businesses in Nigeria.

Burgenland Holding

Market Cap: €210.0m

Through its investment in Burgenland Energie AG, engages in the generation and sale of electricity in Austria.

Kyungdong City Gas

Market Cap: ₩104.0b

Engages in the manufacture and supply of liquefied natural gas through a network of pipelines.

Hub Power

Market Cap: PK₨171.1b

Operates as an independent power producer in Pakistan.

Distribuidora de Gas Cuyana

Market Cap: AR$257.0b

Distributes natural gas in the Córdoba, Mendoza, La Rioja, San Luis, Catamarca, and San Juan provinces of Argentina.

Tianjin Development Holdings

Market Cap: HK$2.0b

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

Minera Valparaiso

Market Cap: CL$1.9t

An investment company, engages in the generation and sale of electric power.

Chengdu Gas Group

Market Cap: CN¥8.5b

Engages in the urban gas supply business in China.

PETRONAS Gas Berhad

Market Cap: RM 34.6b

Engages in separating natural gas into its components and storing in Malaysia.

GAIL (India)

Market Cap: ₹1.2t

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

Mahanagar Gas

Market Cap: ₹133.0b

Operates as a natural gas distribution company in India.

Tesgas

Market Cap: zł28.8m

Engages in the construction, renovation, and modernization of gas facilities in Poland.

VERBUND

Market Cap: €22.8b

Generates, trades, and sells electricity to energy exchange markets, traders, electric utilities and industrial companies, and households and commercial customers.

Guangdong Investment

Market Cap: HK$41.1b

An investment holding company, engages in water resources, property investment and development, department store operation, hotel ownership, energy project operation and management, and road and bridge operation businesses.

United Power Generation & Distribution

Market Cap: ৳65.6b

United Power Generation & Distribution Company Ltd.

Indraprastha Gas

Market Cap: ₹269.6b

Engages in the distribution and sale of natural gas in India.

Gas Malaysia Berhad

Market Cap: RM 5.4b

Sells, markets, and distributes natural gas to the industrial, commercial, and residential sectors in Malaysia.