Global Utilities Low Leverage High Rewards

Minera Valparaiso

Market Cap: CL$1.7t

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

Shin Hai Gas

Market Cap: NT$9.0b

Engages in the supply of natural gas in Taiwan.

PTC India

Market Cap: ₹55.2b

Engages in the trading and generating of power in India, Nepal, Bhutan, and Bangladesh.

Enel Generación Chile

Market Cap: CL$3.5t

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

GAIL (India)

Market Cap: ₹1.1t

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

ToellLtd

Market Cap: JP¥15.1b

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

Lechwerke

Market Cap: €2.5b

Operates as an energy supplier in Germany.

CNTEE Transelectrica

Market Cap: RON 4.3b

CNTEE Transelectrica SA acts as a transmission and system operator of the national power system.

BKW

Market Cap: CHF 9.4b

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.

E4U

Market Cap: Kč918.4m

Invests in and operates plants that generate energy from renewable sources in the Czech Republic.

Hsin Kao GasLtd

Market Cap: NT$4.1b

Engages in the installation of natural gas for supplying domestic and commercial fuels and related pipelines in Taiwan.

Électricite de Strasbourg Société Anonyme

Market Cap: €1.1b

Engages in the supply of electricity and natural gas to individuals, businesses, and local authorities in France.

ENN Energy Holdings

Market Cap: HK$71.5b

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

Jiangsu Jiangnan Water

Market Cap: CN¥5.9b

Supplies water in China.

Osaka Gas

Market Cap: JP¥1.7t

Provides gas, electricity, and other energy products and services in Japan and internationally.

Sichuan Chuantou EnergyLtd

Market Cap: CN¥74.7b

Engages in the clean energy business in China.

EVN

Market Cap: €4.3b

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

Xinjiang Torch Gas

Market Cap: CN¥3.1b

Operates as a gas service company in China.

Nuoc Trong Hydro - Power

Market Cap: ₫567.1b

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

Lotus Hydro Power

Market Cap: LK₨1.5b

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

Summit Power

Market Cap: ৳16.6b

Engages in the generation and supply of electricity in Bangladesh.

Taliworks Corporation Berhad

Market Cap: RM 1.1b

An investment holding company, engages in the provision of contracting, project, and management services.

PBA Holdings Bhd

Market Cap: RM 638.8m

An investment holding company, operates as a water supplier in Malaysia.

Inner Mongolia MengDian HuaNeng Thermal Power

Market Cap: CN¥26.4b

Engages in thermal power generation business.

Burgenland Holding

Market Cap: €213.0m

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

Tianjin Development Holdings

Market Cap: HK$3.0b

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

Hub Power

Market Cap: PK₨206.1b

Operates as an independent power producer in Pakistan.

Genesis Energy

Market Cap: NZ$2.6b

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

Shizuoka Gas

Market Cap: JP¥88.8b

Produces, supplies, and sells city gas in Japan.

Kyungdong City Gas

Market Cap: ₩119.6b

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

Distribuidora de Gas Cuyana

Market Cap: AR$298.5b

Distributes natural gas in the Mendoza, San Luis, and San Juan provinces of Argentina.

Ping Ho Environmental Technology

Market Cap: NT$1.7b

Ping Ho Environmental Technology Co., Ltd.

Mien Trung Power Investment and Development

Market Cap: ₫1.5t

Engages in the generating, transmitting and distributing electricity in Vietnam.

Kenya Electricity Generating

Market Cap: KSh49.1b

Operates as an electric power generating company in Kenya.

Guangdong Investment

Market Cap: HK$45.0b

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.

HIROSHIMA GASLtd

Market Cap: JP¥26.3b

Engages in the gas business in Japan.