Which electric utility stocks are good? 8 Leading Thai Companies to Watch in 2026

If you’re wondering which electric utility stocks are good and suitable for your investment goals, the answer lies in understanding the nature of the energy business and the potential of each company. In 2023, Thailand’s power sector remains one of the main securities that consistently deliver returns. Therefore, choosing which electric utility stocks are good depends on your investor type, objectives, investment horizon, and risk tolerance.

Understanding the Basics: What Are Electric Utility Stocks and Who Should Care

Power plant stocks, also known as Defensive Stocks, are a group of securities with high income stability because electricity is an essential product continuously needed by consumers and industries, regardless of economic conditions.

The stock prices of this group tend to move in line with electricity generation status, industry conditions, and national power development policies. So, which electric utility stocks are good depends on what type of investor you are.

For investors seeking:

• Steady income: Power companies often pay high and stable dividends.
• Investment safety: These companies have long-term power purchase agreements protected by the government.
• Long-term growth: The industry is supported by Power Development Plans (PDP) and Renewable Energy Plans (AEDP).

How Many Types of Electric Utility Stocks Are There?

Currently, power plant stocks can be classified in two ways: by capacity size and by energy source.

By Capacity

Revenue recognition, income models, and private power plants include:

1. Large private power plants (IPP): Capacity over 90 MW
2. Medium private power plants (SPP): Capacity 10-90 MW
3. Small private power plants (VSPP): Capacity less than 10 MW

By Energy Source

• Solar Power Stocks: Representing sustainable and environmentally friendly renewable energy.
• Hydropower Stocks: Popular in areas with sufficient natural water sources.
• Natural Gas Power Stocks: Clean and highly efficient energy.
• Nuclear Power Stocks: Complex and high-risk regarding safety and government policies.
• Renewable Energy Stocks: Wind, biomass, and ocean wave energy.

Comparing Which Electric Utility Stocks Are Good: Based on Your Investment Goals

Before deciding which electric utility stocks are good, let’s look at a comparison of 8 leading Thai companies.

2026 Power Sector Stock Data Table

Source: investing.com (Updated 2026)

Which Electric Utility Stocks Are Good for Different Types of Investors

1. For investors seeking high stability: GULF

Gulf Energy Development is Thailand’s leading power producer with the largest market cap of 795.55 billion Baht. The company operates broadly across electricity, gas, renewable energy, and infrastructure.

GULF has a P/E ratio of 0.04 (PEG), indicating undervaluation, making it a good choice for those prioritizing stability. The latest closing price is 54 Baht, up 1.4%.

Attractions: Large market cap, diversified business, recognized for sustainability.

2. For investors seeking high dividends: GPSC and RATCH

Global Power Synergy (GPSC) with a market cap of 109.26 billion Baht, is a leader in innovation and sustainability. P/E ratio at 18.7, price at 38.75 Baht. It balances growth and dividend payments.

RATCH Group is a major private power producer, with about 45% ownership by EGAT, reflecting strategic stability. P/E at 11.2, price at 31.25 Baht, making it a good long-term dividend payer.

3. For investors aiming for growth: EGCO and BGRIM

Electricity Generating Public Company (EGCO) is Thailand’s first private power producer, expanding into international markets across Asia-Pacific and North America. P/E at 12.4, price at 120.50 Baht, the highest in the table, indicating strong market confidence.

BGRIM has a P/E of 37.4, showing expected market expansion. The company plans to expand into new sectors like health, lifestyle, and digital tech. Price at 13.70 Baht, suitable for risk-tolerant investors seeking higher returns.

4. For clean energy investors: BCPG and EA

BCPG focuses on clean energy and Energy as a Service (EaaS). Despite a high P/E of 81.5, it reflects heavy investment in renewable energy projects. Price at 8.05 Baht, ideal for long-term green energy believers.

EA operates under the concept of “Energy for The Future,” pioneering battery tech, EVs, and charging stations. P/E is negative (-3.0) due to ongoing investments. Price at 3.02 Baht, up 5.6%, suitable for high-risk, high-growth investors.

BANPU is a global energy producer with 41 projects across 8 countries in Asia-Pacific and North America. P/E at 17.7, price at 11.40 Baht, good for diversification.

Why Does the Question “Which Electric Utility Stock Is Good” Matter for Your Portfolio?

1. Stable income

Power plant businesses generate continuous profits due to long-term power purchase agreements with the government and private sectors at fixed rates. So, which electric utility stocks are good will have long-term profit potential.

2. High and consistent dividends

Most power companies have a history of paying high, stable dividends thanks to steady cash flows. Regular dividends create passive income, especially for investors seeking regular income streams.

3. Defensive stocks to reduce risk

Even during economic downturns, electric utility stocks tend to maintain profitability, similar to safe assets, making them valuable for diversification during market volatility.

4. Government backing

Power businesses are protected and supported by the government’s Power Development Plan (PDP) and Renewable Energy and Alternative Energy Plan (AEDP), ensuring long-term power purchase agreements for compliant companies.

5. Suitable for long-term investment

With strong fundamentals, consistent performance, and ongoing dividends, power portfolio investments can serve as leverage to withstand market fluctuations.

6. Global green energy trend

Despite some countries adjusting energy policies, the renewable sector continues to receive subsidies, joint investment projects, and clear policies. Companies investing in renewables like BCPG and EA have sustainable growth prospects.

How to Buy Power Stocks: Practical Steps for General Investors

Method 1: Direct purchase via Thai stock market

Choose a reputable Thai broker such as Bualuang Securities, Kasikorn Securities, or Maybank Kim Eng. Account opening conditions and fees vary.

Popular trading platforms include STREAMING PRO and ASPEN.

Minimum purchase: 100 shares. For example, buying 100 GULF shares at 54 Baht each requires 5,400 Baht. If the price rises to 59 Baht, you gain 500 Baht.

Method 2: Trading CFDs through foreign brokers

Contract for Difference (CFD) allows traders to profit from price differences in both directions.

Advantages:

• Trade both long and short positions.
• Use leverage to control smaller capital and amplify gains.
• Trade various assets like stocks, gold, currencies, or indices.

Popular CFD services include MiTrade, accessible via website, mobile, or desktop, with minimum deposits of $50 and account setup in 3 minutes.

Important considerations when buying power stocks:

• Study company growth strategies (partnerships, new plants, international expansion).
• Check power purchase agreements, capacity, and revenue models.
• Observe industry trends, demand growth, and government policies.
• Follow energy sector policies and government contracts.

Summary: Which Electric Utility Stock Is Good?

There is no single answer to which electric utility stock is good; it depends on your investor profile, goals, and risk appetite.

In brief:

• For conservative investors: GULF or RATCH for stability and dividends.
• For growth-focused investors: EGCO or BGRIM for expansion potential.
• For risk-tolerant investors: BCPG or EA for clean energy and innovation.

Power plant stocks are generally considered Defensive Stocks, suitable for diversification due to their stable business, consistent income, and government support. When asking which electric utility stock is good, choose based on your own goals and risk profile to maximize returns and satisfaction.

Caution: All investments carry risks. Study thoroughly and consult an independent financial advisor before investing, as no stock may be suitable for everyone.