May 2026
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Largest Utilities Public Companies in the UK
Benchmark revenue and EBITDA valuation multiples for public comps like
National Grid, SSE, CK Infrastructure Holdings, United Utilities and Severn Trent.
 | National Grid owns and operates the electric transmission system in England and Wales. It sold the bulk of its UK gas transmission business in fiscal 2023 to fund the acquisition of PPL's UK power distribution assets. In the Northeastern United States, it serves electricity and gas customers combined in three states. It also owns regulated transmission and electricity generation in the United States, metering services, merchant transmission lines in the UK, and the Grain (UK) liquefied natural gas facility. | $16 | +12% | $79B | $138B | 5.6x | 13.5x | ||
| SSE is an integrated utility based in the United Kingdom. The bulk of SSE's profit comes from the company's power generation businesses and its electricity transmission and distribution networks. The firm is also involved in smaller related businesses such as gas storage and energy services. | $31 | +27% | $37B | $49B | 3.6x | 11.5x | ||
| CK Infrastructure Holdings, or CKI, is a Hong Kong-headquartered global infrastructure investment company. It is part of the CK Hutchison group of companies, holding the bulk of the group’s infrastructure investments. Its portfolio primarily comprises regulated utilities and, to a lesser extent, contracted infrastructure businesses across the UK, Australia, Hong Kong, Europe, Canada, and New Zealand. The UK and Australia combined made up more than 70% of CKI's net profit in 2024. The company also owns infrastructure materials businesses in Hong Kong and mainland China, producing cement, concrete, asphalt, and aggregates. In 2024, CKI added a listing on the London Stock Exchange to its main Hong Kong listing. | $7 | +11% | $19B | $20B | 36.0x | 15.8x | ||
| United Utilities Group is primarily a holding company for United Utilities Water, the country's largest regulated water and wastewater utility, serving customers in northwest England, including Manchester and Liverpool. | $18 | +16% | $13B | $26B | 9.1x | 16.3x | ||
| Severn Trent PLC is a United Kingdom-based water utilities company. It mainly operates in the U.K., but also in the United States and other countries in Europe. The company derives the majority of its revenue from its regulated water and wastewater segment, which supplies water and conducts sewage and environmental services. The company also operates a business services segment that is involved with renewable energy operations. The company provides contract services to industrial and municipal clients to develop water treatment facilities and networks. The firm generates its renewable energy by using hydropower, wind power, and solar power. | $39 | +8% | $12B | $26B | 7.8x | 16.4x | ||
| Centrica is a diversified utility based in the UK with operations that produce oil and gas and supply natural gas and electricity. Its British Gas business unit is the largest residential supplier of natural gas and HVAC services in Britain. | $2 | +15% | $11B | $9B | 0.3x | 5.3x | ||
| Pennon Group PLC is a British water and environmental utility infrastructure company that operates mainly in the United Kingdom. It has smaller operations in the European Union, China, and other countries. The company operates through Water, Non-household retail and other segments. The water business comprises the regulated water and wastewater services undertaken by South West Water. The non-household retail business comprises the services provided by Pennon Water Services in the non-household water and wastewater retail market. Majority of revenue is derived from the water division. | $7 | +1% | $3B | $9B | 6.4x | 20.4x | ||
| Renewables Infrastructure Group (The) Ltd Guernsey registered closed-ended investment company. The company focuses on investing principally in a range of diversified operational assets that generate electricity from renewable sources, with an initial focus on onshore wind farms and solar PV parks in the United Kingdom and Northern Europe. Its revenue comprises mostly dividends received from investments made. | $1 | -14% | $2B | $2B | 5.4x | 6.9x | ||
| Econergy Ltd is an international IPP (independent power producer) of utility-scale renewable energy projects. The company develops, owns, and operates utility-scale renewable energy projects driven by deep industry, regulatory and technology expertise at every critical stage from origination to supply. Geographically, it has a presence in Italy, UK, Romania, Spain, Poland, and Greece. | $22 | -- | $2B | $2B | 201.3x | 82.6x | ||
| Telecom Plus PLC is a UK Based telecommunications and utilities company that provides mobile services, fixed-line services, Internet services, and gas and electricity services. The company generates maximum revenue from Electricity services. Its main income streams from the provision of fixed-line telephony, broadband, mobile telephony, gas and electricity services, and transactions. | $13 | -50% | $1B | $1B | 0.5x | 6.1x | ||
| Yu Group PLC is an independent supplier of gas and electricity servicing SME businesses throughout the United Kingdom. In addition to the supply of gas and electricity, the company offers certain ancillary services and has obtained the necessary Ofgem licenses to supply gas and electricity in the United Kingdom market. Its operating segments include Retail, Smart, Metering assets, and Group. The company generates the majority of its revenue from the Retail segment. | $24 | +6% | $413M | $285M | 0.3x | 4.1x | ||
| Jersey Electricity PLC functions in the United Kingdom utility industry through the importation, transmission, distribution, generation, and supply of electricity. The company operates through business segments, including Energy, Building Services, retail, property, and others, with the majority of revenue generated from the Energy segment. Its businesses include Energy Division, Energy Solutions, JEBS, Jersey Energy, Jendev, and Jersey Deep Freeze, and its projects include Solar PV arrays, Smart Meter roll out, St Helier West Substation, Normandie 1, Normandie 3, and South Hill Switching Station. | $6 | -1% | $186M | $180M | 0.9x | 4.9x | ||
| Median | $14 | +8% | $7B | $9B | 5.5x | 12.5x |
Financial data powered by FactSet and Morningstar. Valuation multiples as of current fiscal year. For more data, start your free trial here.
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