ENB
2nd
Enbridge
$112.24 Bn
51.39
+1.60%
+10.11%
The company operates rate-regulated natural gas utility operations in Ontario, Quebec, Ohio, North Carolina, Utah, Wyoming, and Idaho, delivering gas to residential, commercial, and industrial customers.
EQNR
2nd
Equinor Asa
$103.05 Bn
41.84
+0.02%
+71.33%
The company develops and operates offshore wind farms and other renewable energy projects, selling electricity under power purchase agreements or government-subsidized schemes.
SBS
Companhia De Saneamento Basico Do Estado De Sao Paulo-Sabesp
$77.76 Bn
4.55
-0.66%
+6.83%
Sabesp generates the bulk of its revenue from the sale of water and sewage services to residential, commercial, industrial, and governmental customers. It operates as a regulated utility under the state regulator ARSESP, managing water supply and wastewater systems across 371 municipalities.
TRP
2nd
Tc Energy
$66.70 Bn
64.01
+1.15%
+26.90%
The company operates a material power generation business that includes nuclear power plants, selling electricity under long-term contracts or market-based pricing.
D
Dominion Energy
$60.40 Bn
68.64
-0.22%
+13.64%
Dominion Energy operates regulated electric distribution franchises in Virginia, North Carolina, and South Carolina, serving approximately 4.1 million retail customers. The profile explicitly states that regulated electric utility operations are expected to contribute approximately 90% of earnings.
XEL
Xcel Energy
$49.43 Bn
79.17
-0.05%
+9.64%
Xcel Energy is a regulated electric delivery company serving 3.9 million electric customers through subsidiaries like NSP and PSCo, earning revenues from electric sales volume of 109,401 million kilowatt hours.
VST
Vistra
$47.21 Bn
140.51
-3.83%
-29.38%
Vistra is an integrated retail electricity and power generation company that sells electricity and natural gas to approximately 5 million customers and into wholesale markets. It operates as a competitive provider in deregulated markets like ERCOT, PJM, and CAISO, earning revenue from retail supply margins and wholesale energy sales rather than regulated tariffs.
FER
2nd
Ferrovial
$45.69 Bn
63.40
-0.81%
+14.77%
The Energy segment develops and operates utility-scale renewable electricity generation, specifically solar photovoltaic plants in Texas, Spain, and Poland, selling power via PPAs and wholesale markets.
ETR
Entergy
$40.38 Bn
108.08
-0.42%
+23.03%
Entergy operates regulated electricity distribution and transmission franchises serving approximately 3 million residential, commercial, and industrial customers under tariffs approved by state utility commissions. Its primary revenue comes from regulated per-kilowatt-hour rates and fixed connection charges.
WEC
Wec Energy
$36.20 Bn
111.08
+0.53%
+4.41%
WEC Energy Group operates several regulated electric utility subsidiaries, such as WE and WPS, providing electricity generation and distribution to retail customers in Wisconsin and Michigan under regulated tariffs.
FCELB
2nd
Fuelcell Energy
$31.77 Bn
500.00
+0.40%
+52.79%
The company's Generation segment owns and operates fuel cell power plants that sell electricity to utilities and off-takers under power purchase agreements, such as those with Southern California Edison and the New York Power Authority.
AEE
Ameren
$30.36 Bn
109.67
+0.19%
+9.72%
Ameren operates regulated electric distribution franchises in Missouri and Illinois, delivering power to residential, commercial, and industrial customers under tariffs set by the Missouri Public Service Commission and the Illinois Commerce Commission.
DTE
Dte Energy
$29.19 Bn
140.26
-0.62%
+2.08%
DTE Energy's primary business is the operation of DTE Electric, a regulated electric utility that generates, transmits, and distributes electricity to residential, commercial, and industrial customers in Michigan under regulated tariffs.
FTS
Fortis
$28.85 Bn
56.47
+0.05%
+11.71%
Fortis is a diversified regulated electric utility holding company serving 3.5 million customers through subsidiaries like FortisAlberta, FortisBC Electric, and Newfoundland Power. It earns a regulated return on rate-base assets for delivering electricity to residential, commercial, and industrial users.
ATO
Atmos Energy
$28.81 Bn
170.49
+0.34%
+3.94%
Atmos Energy is a natural gas distributor serving approximately 3,400,000 residential, commercial, and industrial customers under rates set by state regulatory authorities. Its Distribution segment is its core business, providing regulated natural gas sales and delivery.
EIX
Edison International
$28.36 Bn
73.69
+3.34%
+32.46%
Southern California Edison (SCE) operates as a regulated public utility delivering electricity to approximately five million residential, commercial, and industrial customers. Its revenue is derived from rates established by the California Public Utilities Commission (CPUC) and the Federal Energy Regulatory Commission (FERC).
FE
Firstenergy
$27.35 Bn
47.26
-0.34%
+10.34%
FirstEnergy operates one of the nation's largest investor-owned electric systems, serving over 6 million residential, commercial, and industrial customers through a regulated retail franchise. Its Distribution segment earns revenues from delivering power to end-use customers under regulated tariffs.
AWK
American Water Works Company
$27.08 Bn
136.27
+1.38%
-4.48%
American Water is a water and wastewater utility that provides drinking water and sewage services to approximately 14 million people. Its primary revenue comes from regulated per-kilowatt-hour rates and fixed connection charges through its Regulated Businesses segment, which accounts for 92% of total operating revenues.
NRG
Nrg Energy
$24.30 Bn
115.55
-5.59%
-23.19%
NRG Energy operates as a retail energy provider selling electricity and natural gas to residential, commercial, and industrial customers in competitive markets. Its revenue is derived from the sale of energy to retail and wholesale customers and capacity market payments, rather than a regulated rate base.
HRNNF
Hydro One
$24.03 Bn
40.07
-2.03%
—
Hydro One operates a regulated electricity distribution franchise serving approximately 1.5 million customers in Ontario under tariffs approved by the Ontario Energy Board. Its Distribution Business segment delivers electricity to residential, commercial, and industrial end users through 126,000 circuit kilometres of low-voltage lines.
CMS
Cms Energy
$22.28 Bn
71.04
-0.52%
-1.37%
CMS Energy's primary revenue driver is its Consumers subsidiary, which operates a regulated electric utility franchise in Michigan's Lower Peninsula, generating $5.6 billion in operating revenue from the sale of electricity to residential, commercial, and industrial customers.
CNLPL
Connecticut Light & Power
$20.27 Bn
53.90
+2.06%
+3.65%
Connecticut Light & Power is a regulated electric utility that delivers electricity to residential, commercial, and industrial customers under tariffs set by the Connecticut Public Utilities Regulatory Authority (PURA). It earns a regulated return on its invested capital for owning and maintaining the distribution infrastructure within its franchised service area.
NI
Nisource
$20.20 Bn
42.12
-0.59%
+0.98%
NiSource operates extensive regulated natural gas distribution networks through its Columbia Operations and NIPSCO Gas segments, serving approximately 3.3 million customers across six states. Its revenue is derived from the sale of natural gas to residential, commercial, and industrial customers under a regulated rate-base model.
AQNB
Algonquin Power & Utilities
$20.11 Bn
26.13
+2.03%
+1.67%
The company operates a diversified portfolio of regulated electricity distribution franchises serving 310,000 electric connections across the US, Canada, Bermuda, and Chile. It earns revenue from regulated per-kilowatt-hour rates and fixed connection charges approved by authorities like the CPUC and NHPUC.
YPF
2nd
Ypf Sociedad Anonima
$19.94 Bn
50.70
-3.81%
+50.27%
The company operates a regulated natural gas distribution business through its subsidiary Metrogas, providing distribution services to residential, commercial, and industrial customers.
AXIA
AXIA Energia
$18.83 Bn
9.53
-0.31%
+16.65%
AXIA Energia is primarily a power generator with 100% of its capacity from low-emission sources, specifically hydroelectric (97.1% of output), wind, and solar. It sells this electricity through bilateral contracts, auctions, and to Free Market clients.
LNT
Alliant Energy
$17.99 Bn
69.98
-0.53%
+8.61%
Alliant Energy operates as a regulated monopoly providing electric distribution to approximately 1,010,000 retail customers through its subsidiaries IPL and WPL. It earns revenue from regulated per-kilowatt-hour rates and fixed connection charges for residential, commercial, and industrial customers.
BIP
2nd
Brookfield Infrastructure Partners
$17.54 Bn
38.32
-1.52%
+28.33%
The company operates regulated electricity and natural gas transmission and distribution franchises in Brazil, India, and South Korea, earning a return on a regulated rate base.
CNP
Centerpoint Energy
$17.49 Bn
40.54
-0.20%
+7.45%
CenterPoint Energy operates regulated electricity distribution franchises through subsidiaries like Houston Electric and CERC, serving approximately 3,006,945 metered electric customers. Its revenue is derived from regulated per-kilowatt-hour rates and fixed charges established by the Public Utility Commission of Texas.
EMA
Emera
$15.53 Bn
51.46
+0.61%
+7.81%
Emera operates several vertically integrated regulated electric utilities, including Tampa Electric Company and Nova Scotia Power, which deliver power to residential, commercial, and industrial customers under regulated tariffs.
TLN
Talen Energy
$15.22 Bn
317.66
-11.00%
-15.72%
Talen Energy is explicitly described as an independent power producer that sells electricity, capacity, and ancillary services into competitive wholesale markets at market-based rates. Its revenue comes from energy sales and capacity contracts with regional transmission organizations like PJM and MISO rather than regulated tariffs.
KEP
Korea Electric Power
$14.50 Bn
11.29
-4.48%
-18.89%
Korea Electric Power Corporation is an integrated electric utility that owns and operates the transmission and distribution of substantially all electricity in South Korea, selling to residential, commercial, and industrial end users. It functions under government-sanctioned monopoly conditions, delivering power to retail customers across various sectors.
AA
2nd
Alcoa
$13.20 Bn
50.03
-3.27%
+68.85%
The company owns energy assets that generate electricity not only for internal smelting use but also for sale to third parties, contributing to its total revenue.
BIPC
Brookfield Infrastructure
$12.60 Bn
39.01
-1.24%
+0.44%
The company operates a regulated distribution operation in the United Kingdom providing last-mile electricity connections to residential and commercial customers under regulated tariffs. This activity is a core component of its revenue and operational structure.
ENLT
Enlight Renewable Energy
$11.63 Bn
83.43
-0.13%
+202.83%
Enlight Renewable Energy owns and operates utility-scale renewable energy projects across wind and solar, generating revenue from the sale of electricity under long-term power purchase agreements (PPAs). Specific examples include the Crimson Orchard solar and storage facility in Idaho and the CO Bar complex in Arizona.
WTRG
Essential Utilities
$11.46 Bn
40.37
+1.46%
+4.42%
The company operates a substantial Regulated Water segment under the Aqua brand, providing water and wastewater services to millions of people. Revenue is generated from metered consumption and rate structures approved by state utility commissions.
AES
Aes
$10.51 Bn
14.74
-0.14%
+10.33%
AES operates regulated electric utilities in Indiana, Ohio, and El Salvador, serving approximately 2.7 million residential, commercial, and industrial customers under state-approved tariffs.
OGE
Oge Energy
$9.72 Bn
47.06
-0.63%
+5.59%
OGE Energy operates as a vertically integrated electric utility providing electricity to over 913,000 residential, commercial, and industrial customers in Oklahoma and Arkansas. Its rates are regulated by the Oklahoma Corporation Commission and the Arkansas Public Service Commission, earning revenue from regulated retail sales.
MSEXP
Middlesex Water
$9.27 Bn
492.00
+0.00%
-12.14%
Middlesex Water Company owns and operates regulated water and wastewater systems, providing services to approximately 131,000 retail and wholesale customers. Its revenue is generated through the sale of water and wastewater services to residential, commercial, and industrial customers, as well as through municipal contracts for system management.
EAI
Entergy Arkansas
$9.23 Bn
19.77
+0.25%
—
Entergy Arkansas operates as a regulated electric utility providing generation, transmission, and distribution to retail customers in Arkansas under tariffs set by the Arkansas Public Service Commission. Its revenue is derived from regulated per-kilowatt-hour rates and fixed charges from residential, commercial, and industrial customers.
BEP
Brookfield Renewable Partners
$9.06 Bn
32.89
-4.53%
+32.25%
The company owns and operates a massive portfolio of utility-scale renewable electricity generation, including hydroelectric, wind, and solar assets. It generates revenue primarily through long-term power purchase agreements (PPAs) with customers like Amazon, Microsoft, and Google.
UGI
Ugi
$8.24 Bn
38.41
+9.46%
+11.04%
The company operates a Utilities segment that provides regulated electric and natural gas distribution services to residential, commercial, and industrial customers in Pennsylvania and neighboring states, earning revenue through rates set by public utility commissions.
PNMXO
Public Service Co Of New Mexico
$8.22 Bn
74.00
+0.00%
-5.13%
The company owns and operates two regulated electric utilities, PNM and TNMP, which deliver power to approximately 839,000 residential, commercial, and industrial customers under regulated tariffs. Its revenue is derived from electric operating revenues, including transmission and distribution rates and rate recovery mechanisms approved by regulators.
SCE-PM
Southern California Edison
$7.94 Bn
24.36
+1.12%
+3.70%
Southern California Edison operates as an investor-owned public utility delivering electricity to homes, businesses, and public facilities under rates set by the California Public Utilities Commission. Its revenue is derived from regulated per-kilowatt-hour rates and fixed charges, earning a regulated return on its rate-base assets.
NFG
2nd
National Fuel Gas
$7.93 Bn
83.39
+1.93%
-2.41%
The Utility segment, consisting of National Fuel Gas Distribution Corporation, delivers natural gas to approximately 756,000 residential, commercial, and industrial customers under a regulated cost of service model.
ELPC
Energy Co Of Parana
$7.84 Bn
10.52
-0.85%
+27.83%
Copel operates a massive regulated electricity distribution franchise under concessions from ANEEL, serving residential, industrial, commercial, and rural customers across 394 municipalities in Paraná.
OKLO
Oklo
$7.66 Bn
41.38
-5.68%
-40.02%
Oklo owns and operates advanced fission power plants (powerhouses) to generate electricity and heat, selling this output under long-term power purchase agreements to customers like Meta Platforms and Switch Ltd. Its core business is defined by its fleet of small modular fast fission reactors.
CWEN
Clearway Energy
$7.56 Bn
33.13
-2.93%
+10.80%
Clearway Energy owns and operates a large portfolio of utility-scale renewable assets, including the Alta I-V wind facilities and Luna Valley solar, selling output via power purchase agreements to utilities and corporations.
SOCGP
Southern California Gas
$7.46 Bn
31.10
+0.00%
+26.58%
Southern California Gas Company is a regulated natural gas distribution utility that delivers gas to residential, commercial, and industrial customers. Its revenue is derived from rates authorized by the California Public Utilities Commission for the sale and delivery of natural gas through its pipeline network.
ORA
Ormat Technologies
$6.74 Bn
109.64
-3.78%
+19.15%
Ormat owns and operates utility-scale geothermal and solar PV power plants, selling electricity under long-term power purchase agreements (PPAs) to utilities like NV Energy and Kenya Power and Lighting Co. Ltd.
BEPC
Brookfield Renewable
$6.52 Bn
33.51
-4.53%
-0.65%
The company's core business is owning and operating a diversified portfolio of utility-scale hydroelectric, wind, and solar power facilities. It generates revenue primarily from the sale of electricity produced by these renewable assets through long-term power purchase agreements with utilities and corporate customers like Google.
SU
2nd
Suncor Energy
$6.32 Bn
67.68
+1.51%
+75.43%
The company operates an electricity generation business using cogeneration facilities and renewable projects to sell power to the Alberta provincial grid and industrial consumers.
CIG-C
Energy Co Of Minas Gerais
$6.32 Bn
2.87
+0.35%
+7.49%
CEMIG operates a dominant electricity distribution franchise in Minas Gerais, serving approximately 9.6 million residential, commercial, and industrial customers under regulated tariffs. This distribution activity is a core segment of its business and defines its role as a regulated utility.
POR
Portland General Electric
$5.86 Bn
50.58
-0.59%
+20.63%
Portland General Electric is a vertically integrated electric utility that sells electricity to residential, commercial, and industrial customers under regulated rates approved by the Oregon Public Utility Commission. Its core revenue is derived from these retail sales within its regulated service territory.
TSLTF
Transalta
$5.68 Bn
18.82
+0.00%
+12.83%
TransAlta is a power generator that sells electricity to wholesale markets, utilities, and commercial customers, with a significant portion of its revenue coming from merchant assets and energy marketing. Its Gas segment operates 4,834 megawatts of capacity and its Energy Transition segment includes a merchant contract with Puget Sound Energy, fitting the profile of an Independent Power Producer.
NJR
New Jersey Resources
$5.63 Bn
55.50
+0.95%
+20.03%
The company's principal business is the distribution of natural gas through a regulated utility serving residential and commercial customers in several New Jersey counties, regulated by the New Jersey Board of Public Utilities.
BKH
Black Hills
$5.58 Bn
73.17
-0.31%
+21.24%
The company's core business involves the generation, transmission, and distribution of electricity to residential, commercial, and industrial customers under regulated tariffs approved by state utility commissions. This is explicitly described as its Electric Utilities segment, which serves customers in Colorado, Montana, South Dakota, and Wyoming.
HASI
2nd
HA Sustainable Infrastructure Capital
$5.30 Bn
41.39
-1.80%
+50.51%
The company owns and operates utility-scale renewable energy projects, including solar, solar-plus-storage, and wind, selling output via power purchase agreements (PPAs) to utilities and wholesale markets.
TXNM
Txnm Energy
$5.19 Bn
57.51
-0.10%
+1.52%
TXNM operates two regulated electric utilities, PNM and TNMP, providing electricity services to approximately 844,000 residential, commercial, and industrial customers. It earns revenue through regulated per-kilowatt-hour rates and tariffs approved by the New Mexico Public Regulation Commission and the Public Utility Commission of Texas.
OGS
ONE Gas
$5.09 Bn
81.07
+1.31%
+9.54%
ONE Gas operates as a regulated public utility delivering natural gas to residential, commercial, and transportation customers in Oklahoma, Kansas, and Texas. Its revenue is derived from natural gas sales and delivery charges under rate-regulated frameworks overseen by state commissions.
RNW
ReNew Energy Global
$4.97 Bn
6.82
+0.00%
-11.89%
ReNew Energy Global owns and operates utility-scale wind, solar, and hydro power plants, selling electricity through long-term power purchase agreements to government agencies and commercial consumers. Its core business is defined by its commissioned capacity across these renewable energy assets.
NWE
NorthWestern Energy
$4.34 Bn
70.61
-0.30%
+28.55%
NorthWestern Energy operates as a regulated electric utility delivering power to approximately 850,300 customers across Montana, South Dakota, Nebraska, and Yellowstone National Park under regulated tariffs. Its electric utility operations segment involves the generation, purchase, transmission, and distribution of electricity to retail customers.
MDU
Mdu Resources
$4.30 Bn
20.44
-0.63%
+26.02%
The company operates an Electric segment that generates, transmits, and distributes electricity to retail, commercial, and industrial customers under a regulated rate base. This is presented as a core part of its identity as a regulated energy delivery company.
PAM
2nd
Pampa Energy
$4.27 Bn
79.01
-1.19%
+5.36%
The company operates power generation activities and sells capacity and energy to wholesale and retail customers, with financial performance tied to market prices for electricity.
WELPM
Wisconsin Electric Power
$3.86 Bn
116.10
+0.00%
+8.96%
The company is a regulated utility providing electric service to approximately 1.18 million retail and wholesale customers in Wisconsin under a regulated monopoly position. Its revenue is primarily derived from the sale of electricity to these retail customers.
OTTR
Otter Tail
$3.83 Bn
91.22
-1.52%
+10.16%
Otter Tail operates a regulated electric utility providing generation, transmission, and distribution services to approximately 134,000 customers in Minnesota, North Dakota, and South Dakota. Revenue is generated from the sale of electricity to residential, commercial, and industrial customers under a regulated rate base.
FRMI
2nd
Fermi
$3.62 Bn
5.74
-6.51%
—
The company provides grid-independent energy generation via on-site natural gas-fired generation and battery storage to its tenants. This power is sold as part of the lease structure based on reserved power capacity (dollars per kilowatt per month) outside of a regulated utility rate base.
AWR
American States Water
$3.53 Bn
88.99
+1.24%
+20.32%
The company's primary business is providing regulated water purchase, production, distribution, and sale, as well as wastewater collection and treatment services through Golden State Water Company.
KEN
Kenon Holdings
$3.36 Bn
64.49
-0.85%
+43.50%
Kenon Holdings operates as a global independent power producer through OPC, owning natural gas-fired plants like Rotem and Fairview and selling electricity into wholesale markets (PJM, NYISO, ISO-NE) and via retail supply to commercial and industrial customers. Its revenue is driven by market prices, bilateral power purchase agreements, and retail supply margins rather than a regulated rate base.
CPK
Chesapeake Utilities
$3.29 Bn
136.63
+1.59%
+10.94%
The company's primary business is the delivery of electricity and natural gas to residential, commercial, and industrial customers under regulated rates set by state public service commissions. This is evidenced by its Regulated Energy segment, which includes subsidiaries like Florida Public Utilities and Delmarva Natural Gas.
AVA
Avista
$3.22 Bn
38.44
-1.51%
+4.17%
Avista operates regulated electric distribution and transmission franchises in Washington, Idaho, Oregon, Montana, and Alaska, serving residential, commercial, and industrial customers under regulatory frameworks.
CWT
California Water Service
$3.08 Bn
49.85
+0.36%
+8.25%
The company's principal operation is the ownership and regulation of water utility services, specifically the purchase, treatment, storage, and distribution of potable water. Revenue is derived from the sale of water to residential, commercial, industrial, and public authority customers under rate schedules approved by state public utility commissions.
MGEE
Mge Energy
$3.07 Bn
81.25
+0.27%
-2.58%
MGE Energy operates a regulated electric utility through its subsidiary Madison Gas and Electric Company, serving approximately 170,000 customers in Dane County. This segment accounts for about 72% of total regulated revenues, delivering power under a regulated framework.
BKV
2nd
Bkv
$2.92 Bn
26.66
+1.25%
+24.41%
The company operates a Power Generation segment via a joint venture with two combined cycle plants in the ERCOT North Zone, selling electricity to wholesale markets and retail customers.
HTO
H2O America
$2.65 Bn
63.30
+0.14%
+27.29%
H2O America owns and operates regulated water and wastewater utilities, including San Jose Water Company and Connecticut Water Company. Its primary revenue is derived from the sale of water and wastewater services to residential, commercial, and industrial customers under regulated tariffs.
RUN
2nd
Sunrun
$2.22 Bn
9.26
-5.80%
-40.26%
Sunrun owns and operates a fleet of deployed solar systems and generates recurring revenue by selling solar electricity to customers via power purchase agreements.
CEPU
Central Puerto
$1.94 Bn
12.81
-1.84%
+10.34%
Central Puerto is a private electricity generation company that sells power to the wholesale market administered by CAMMESA and through long-term agreements with utilities. Its thermal segment, including combined cycle plants like the Brigadier López expansion, fits the profile of an independent power producer selling electricity outside a regulated retail rate base.
AMRC
2nd
Ameresco
$1.34 Bn
25.49
-10.28%
+11.95%
The company owns and operates small-scale renewable energy assets, including solar and biogas plants, and sells the resulting electricity and renewable natural gas under long-term agreements.
XIFR
XPLR Infrastructure
$1.08 Bn
11.44
-1.55%
+13.72%
XPLR Infrastructure owns and operates a portfolio of wind and solar projects with ten gigawatts of capacity. It generates revenue by selling electricity and renewable energy attributes to utilities and wholesale customers via long-term power purchase agreements.
EDN
Edenor
$1.02 Bn
22.46
-2.35%
-19.81%
Edenor holds an exclusive concession to distribute electricity to residential, commercial, and industrial customers in the Buenos Aires area. Its revenue is generated from the sale of electricity under regulated tariffs approved by the national energy regulator.
CSIQ
2nd
Canadian Solar
$1.00 Bn
14.74
-0.34%
+16.15%
Through its Recurrent Energy segment, the company owns and operates solar and battery storage projects to generate recurring revenue from electricity sales.
UTL
Unitil
$0.98 Bn
53.93
-0.13%
+14.87%
Unitil operates regulated electricity distribution franchises through Unitil Energy and Fitchburg Gas and Electric Light Company, serving approximately 110,100 customers in New Hampshire and Massachusetts. This segment contributed 44% of the company's total operating revenue.
HNRG
Hallador Energy
$0.74 Bn
15.79
-2.47%
-2.41%
Hallador operates the Merom Power Plant, a 1080 megawatt coal-fired facility, selling wholesale electricity and accredited capacity to utilities and market participants in the MISO region. It operates as an independent power producer selling at market prices and via bilateral contracts rather than under a regulated retail tariff.
ENIC
Enel Chile
$0.69 Bn
4.52
-1.31%
+33.33%
Enel Chile operates a regulated electricity distribution franchise serving 2.2 million customers in the Santiago Metropolitan Region, earning revenue through regulated tariffs. This distribution business is a core segment of the company, managing over 18,000 kilometers of medium and low voltage lines.
NRGV
2nd
Energy Vault Holdings
$0.66 Bn
3.65
-4.45%
+141.72%
Through its Asset Vault platform, the company develops, owns, and operates energy storage assets, generating revenue from the operation of these assets under power purchase agreements and market participation.
YORW
York Water
$0.54 Bn
33.36
+0.91%
+8.63%
The company's core business is the impounding, purifying, and distributing of water, as well as operating wastewater collection and treatment facilities. It generates revenue from the sale of water and wastewater services to residential, commercial, and industrial customers under a regulatory framework overseen by the Pennsylvania Public Utility Commission.
CWCO
Consolidated Water
$0.48 Bn
30.07
+0.07%
-7.31%
The company operates as a water utility, producing potable water from seawater via reverse osmosis and selling it to residential, commercial, and government customers under an exclusive retail license in the Cayman Islands. It also supplies bulk water to government-owned utilities in The Bahamas and the British Virgin Islands.
FIP
2nd
FTAI Infrastructure
$0.48 Bn
4.03
-5.18%
-11.23%
The Power and Gas segment operates a 485-megawatt power plant at the Long Ridge terminal, selling electricity to local electricity markets and traders.
FISN
2nd
Deep Fission
$0.47 Bn
7.82
-3.69%
—
The company intends to maintain project-level equity ownership of its Gravity Reactor facilities to receive cash flows from electricity sales under long-term power purchase agreements, effectively operating as a nuclear power producer.
GREEL
2nd
Vulcan Infrastructure & Power
$0.40 Bn
24.80
-0.40%
+199.52%
The company owns and operates a 106 megawatt natural gas power generation facility that sells electricity, capacity, and ancillary services into the wholesale market via the New York Independent System Operator (NYISO).
NPWR
Net Power
$0.37 Bn
1.64
-5.20%
-32.79%
Net Power owns and operates power generation facilities, such as its 50 megawatt thermal facility, and intends to sell electricity via wholesale markets, merchant sales, and long-term power purchase agreements. Its revenue model is based on selling electricity and capacity outside of a regulated rate base, which aligns with the Independent Power Producer classification.
WAVE
Eco Wave Power Global AB (publ)
$0.35 Bn
6.93
-0.57%
-5.33%
The company develops wave energy converter technology to produce clean electricity and intends to operate power stations under a 'Build Own Operate' model, selling electricity via long-term power purchase agreements to utilities like the Israeli Electric Corporation.
ARTNA
Artesian Resources
$0.33 Bn
35.21
+0.74%
+7.31%
Artesian Resources is a public water utility that distributes and sells water and provides wastewater collection, treatment, and disposal services to residential, commercial, and industrial customers. Its primary revenue is generated from the sale of these water and wastewater services under regulated franchises.
ELLO
Ellomay Capital
$0.28 Bn
20.45
+2.20%
+13.93%
The company's primary revenue is generated from the sale of electricity produced by its operating solar power plants in Spain, Italy, and the USA, as well as its development of a pumped storage hydro power plant in Israel.
PCYO
Pure Cycle
$0.28 Bn
11.44
+1.51%
+13.60%
Pure Cycle operates as a water and wastewater service provider, supplying wholesale potable and non-potable water and wastewater treatment to municipal, commercial, and industrial customers. Revenue is generated from metered water usage fees, wastewater treatment charges, and tap fees.
MNTK
2nd
Montauk Renewables
$0.26 Bn
1.84
-1.60%
-8.46%
The company operates a Renewable Electricity Generation segment that produces electricity from biogas using engines or turbines. This electricity is sold under long-term power purchase agreements to municipal and investor-owned utilities, such as the City of Anaheim.
GWRS
Global Water Resources
$0.25 Bn
8.77
-1.24%
-11.14%
Global Water Resources owns and operates 39 water, wastewater, and recycled water public utility systems. It generates revenue from water sales and wastewater treatment for residential, commercial, and industrial customers under the regulatory authority of the Arizona Corporation Commission.
DGXX
2nd
Digi Power X
$0.25 Bn
3.58
-7.73%
+51.05%
The company owns and operates a 60 MW gas-fired peaker plant in North Tonawanda that provides electrical power to the grid during times of peak demand.
RGCO
Rgc Resources
$0.22 Bn
21.57
+1.36%
+2.71%
The company's primary operations involve the regulated distribution and sale of natural gas to residential, commercial, and industrial customers through its subsidiary, Roanoke Gas. It operates under exclusive franchises and CPCNs with rates overseen by the State Corporation Commission (SCC).
ANNA
2nd
AleAnna
$0.18 Bn
2.75
+0.73%
-34.99%
The company currently generates and sells electricity from its anaerobic digester sites to the state-owned utility Gestore dei Servizi Energetici SpA while those assets are being upgraded to biomethane production.
ACRG
2nd
American Clean Resources
$0.12 Bn
8.50
+6.38%
+325.00%
The company plans to develop the ACRG Greenway to Power Renewable Energy Industrial Park, which includes a 2 GW solar farm intended to generate revenue through energy sales.
TGEN
2nd
Tecogen
$0.11 Bn
3.51
-1.40%
-63.13%
Through its Energy Production segment, the company owns and operates distributed generation systems at customer sites and sells electricity, heat, and cooling under long-term contracts at competitive market-based prices.
NFE
2nd
New Fortress Energy
$0.08 Bn
0.29
-6.45%
-87.17%
The company provides power generation services under long-term power purchase agreements and manages thermal generation assets, such as those operated for the Puerto Rico Electric Power Authority.
NXXT
Nextnrg
$0.04 Bn
0.24
-4.00%
-83.10%
NextNRG owns and operates solar plus battery storage microgrids and sells the produced electricity through power purchase agreements to commercial, institutional, and government customers, such as Sunnyside Nursing and Post-Acute Care Center.
SPRU
Spruce Power Holding
$0.04 Bn
1.90
-0.52%
+34.75%
Spruce Power owns and operates a portfolio of distributed solar energy assets with a combined capacity of 509 MWdc. It generates revenue through the sale of electricity to homeowners via power purchase agreements (PPAs) and the sale of solar renewable energy credits (SRECs).
BGDE
2nd
Big Digital Energy
$0.03 Bn
6.57
-6.14%
-26.56%
The company operates an energy management business that participates in demand response and grid stability programs in the PJM market, earning payments from grid operators for adjusting power usage.
CPWR
Ocean Thermal Energy
$0.02 Bn
0.01
+0.00%
—
The company develops utility-scale renewable energy systems (OTEC) to generate clean baseload electricity for sale via long-term power purchase agreements. Its core business is the generation of electricity from a renewable ocean thermal source.
PBK
Powerbank
$0.02 Bn
0.47
+2.17%
-79.11%
PowerBank operates as an independent power producer that owns and operates solar power plants, generating revenue from electricity sales under power purchase agreements and other offtake arrangements.
BESS
Bimergen Energy
$0.02 Bn
3.88
+0.52%
-46.48%
Bimergen Energy is a developer of utility-scale solar energy projects and battery energy storage systems. It intends to generate revenue through power purchase agreements and the sale of stored energy to utilities and commercial customers.
GEBRF
2nd
Greenbriar Sustainable Living
$0.02 Bn
0.45
-6.25%
+55.17%
The company develops and operates solar and battery photovoltaic facilities, such as the Montalva Solar Project. It generates revenue by selling electricity under long-term power purchase agreements with the Puerto Rico Electric Power Authority.
QWTR
2nd
Quest Water Global
$0.01 Bn
0.06
+0.00%
+20.00%
The company operates under a 'build own operate' model where it retains ownership of installed AQUAtap™ systems and sells the purified water directly to end users and community programs, functioning as a water utility provider.
BNRG
2nd
Brenmiller Energy
$0.00 Bn
3.46
+636.17%
-94.54%
The company operates an 'Energy as a Service' model where it installs, operates, and maintains systems to sell produced energy, such as steam or hot air, under long-term contracts to users like power utilities.
ASRE
Astra Energy
$0.00 Bn
0.00
—
-100.00%
Astra Energy develops and operates utility-scale renewable projects, specifically a 42.5MW solar farm on Zanzibar and waste-to-energy systems, selling electricity to the local grid under power purchase agreements.
CBDW
2nd
1606
$0.00 Bn
0.00
—
—
The company is pursuing the acquisition of a 55 megawatt power generation facility in Texas and anticipates future income from electricity sales.
MMEX
2nd
MMEX Resources
$0.00 Bn
0.00
—
—
The Trans Permian H2Hub segment involves a natural gas to power project that will sell electricity to data centers and the ERCOT wholesale market, operating as a merchant power producer.