Sovereign Insights
Norway GPFG · Equity Holdings · 8 September 2026
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Norway GPFG Utilities holdings

Norway's Government Pension Fund Global holds 66 utilities companies worth $ 22.8B — 2.2% of its listed equity value — as of 8 September 2026.

Every position in this sector, largest first. Values are the fund's holding; ownership is the share of the company held.

CompanyTickerCountryFund value (USD)Fund value (NOK)OwnershipVotingPriceP/EMarket capAnalyst rec
NextEra Energy IncNEEUnited States$ 2.7Bkr 26.8B1.48%1.48%83.9718.87$ 175.2BBuy
RWE AGRWE.DEGermany$ 1.9Bkr 18.4B3.68%3.68%59.2613.14$ 46.2BBuy
Southern Co/TheSOUnited States$ 1.4Bkr 13.6B1.27%1.27%88.8921.42$ 102.3BHold
National Grid PLCNG.LUnited Kingdom$ 1.4Bkr 13.5B1.66%1.66%1147.0017.65$ 57.7BHold
SSE PLCSSE.LUnited Kingdom$ 1.2Bkr 11.8B3.06%3.06%2394.0022.80$ 28.9BBuy
E.ON SEEOAN.DEGermany$ 1.2Bkr 11.7B2.17%2.17%17.6513.68$ 46.1BBuy
Constellation Energy CorpCEGUnited States$ 1.0Bkr 10.1B1.14%1.14%299.5329.31$ 106.1BBuy
SempraSREUnited States$ 827.3Mkr 8.2B1.37%1.37%85.5424.79$ 55.9BBuy
Dominion Energy IncDUnited States$ 794.0Mkr 7.9B1.32%1.32%66.3122.94$ 58.3BHold
Vistra CorpVSTUnited States$ 754.6Mkr 7.5B1.41%1.41%154.7626.10$ 51.9BStrong Buy
Entergy CorpETRUnited States$ 697.0Mkr 6.9B1.30%1.3%108.5027.68$ 51.8BBuy
Exelon CorpEXCUnited States$ 579.8Mkr 5.7B1.22%1.22%44.1216.22$ 45.5BHold
Consolidated Edison IncEDUnited States$ 513.9Mkr 5.1B1.26%1.26%108.4417.84$ 40.1BHold
Public Service Enterprise Group IncPEGUnited States$ 493.5Mkr 4.9B1.22%1.22%74.3418.49$ 37.1BNone
PG&E CorpPCGUnited States$ 492.8Mkr 4.9B1.33%1.33%14.7910.64$ 32.6BBuy
CenterPoint Energy IncCNPUnited States$ 402.4Mkr 4.0B1.40%1.4%40.1123.88$ 26.4BNone
Edison InternationalEIXUnited States$ 399.2Mkr 4.0B1.39%1.39%59.156.10$ 22.8BHold
Atmos Energy CorpATOUnited States$ 375.2Mkr 3.7B1.30%1.3%168.1920.05$ 28.4BNone
CMS Energy CorpCMSUnited States$ 365.7Mkr 3.6B1.55%1.55%69.0520.73$ 21.7BBuy
PPL CorpPPLUnited States$ 351.3Mkr 3.5B1.28%1.28%35.3820.93$ 26.6BBuy
Fortis Inc/CanadaFTS.TOCanada$ 343.4Mkr 3.4B1.18%1.18%76.6522.54$ 39.2BHold
American Water Works Co IncAWKUnited States$ 342.9Mkr 3.4B1.33%1.33%140.9924.43$ 28.0BHold
NiSource IncNIUnited States$ 311.3Mkr 3.1B1.37%1.37%41.9822.33$ 20.1BBuy
Eversource EnergyESUnited States$ 302.5Mkr 3.0B1.11%1.11%71.7718.64$ 27.0BHold
United Utilities Group PLCUU.LUnited Kingdom$ 263.7Mkr 2.6B2.04%2.04%1329.0015.45$ 9.9BBuy
Essential Utilities IncWTRGUnited States$ 236.9Mkr 2.3B2.18%2.18%41.9521.51$ 11.9BHold
Centrica PLCCNA.LUnited Kingdom$ 231.6Mkr 2.3B2.21%2.21%152.3510.16$ 7.0BBuy
Talen Energy CorpTLNUnited States$ 222.8Mkr 2.2B1.21%1.21%327.27—$ 15.7BBuy
Severn Trent PLCSVT.LUnited Kingdom$ 213.5Mkr 2.1B1.80%1.8%2932.0023.84$ 8.9BHold
Metlen Energy & Metals PLCMETLEN.LUnited Kingdom$ 182.2Mkr 1.8B2.72%2.72%————
OGE Energy CorpOGEUnited States$ 159.5Mkr 1.6B1.59%1.59%47.4720.82$ 9.8BHold
Pinnacle West Capital CorpPNWUnited States$ 144.2Mkr 1.4B1.11%1.11%98.2218.85$ 11.9BHold
Hydro One LtdH.TOCanada$ 141.7Mkr 1.4B0.57%0.57%53.4022.63$ 32.0BNone
Power Grid Corp of India LtdPOWERGRID.NSIndia$ 127.5Mkr 1.3B0.45%0.45%265.7513.02$ 2.5TBuy
Northland Power IncNPI.TOCanada$ 126.2Mkr 1.2B3.06%3.06%21.53——Buy
Portland General Electric CoPORUnited States$ 125.8Mkr 1.2B2.10%2.1%49.4721.89$ 5.8BHold
TXNM Energy IncTXNMUnited States$ 123.5Mkr 1.2B1.96%1.96%58.1031.75$ 6.0BNone
Capital Power CorpCPX.TOCanada$ 111.0Mkr 1.1B1.36%1.36%64.56113.26$ 10.1BBuy
Fervo Energy CoFRVOUnited States$ 93.5Mkr 925.6M1.09%0.53%19.15—$ 5.6BStrong Buy
Ormat Technologies IncORAUnited States$ 92.7Mkr 917.5M1.39%1.39%109.2653.56$ 6.7BBuy
UGI CorpUGIUnited States$ 90.8Mkr 898.0M1.23%1.23%38.3512.74$ 8.2BBuy
Southwest Gas Holdings IncSWXUnited States$ 84.1Mkr 832.0M1.31%1.31%88.7922.83$ 6.4BNone
Sembcorp Industries LtdU96.SISingapore$ 75.2Mkr 744.1M0.86%0.86%6.2118.82$ 11.1BBuy
New Jersey Resources CorpNJRUnited States$ 72.5Mkr 717.0M1.28%1.28%53.9214.94$ 5.5BNone
Brookfield Renewable CorpBEPC.TOCanada$ 66.8Mkr 661.5M0.52%1.21%45.43—$ 8.4BHold
Algonquin Power & Utilities CorpAQN.TOCanada$ 64.8Mkr 641.1M1.43%1.43%7.8623.82$ 6.1BHold
Brookfield Infrastructure CorpBIPC.TOCanada$ 62.7Mkr 620.2M1.32%1.32%51.86—$ 6.4BNone
ONE Gas IncOGSUnited States$ 62.5Mkr 618.3M1.29%1.29%80.9917.45$ 5.1BNone
Pennon Group PLCPNN.LUnited Kingdom$ 58.3Mkr 576.8M2.00%2%453.2023.85$ 2.1BBuy
Spire IncSRUnited States$ 57.8Mkr 571.5M1.25%1.25%83.7118.48$ 4.9BNone
Northwestern Energy Group IncNWEUnited States$ 55.9Mkr 553.2M1.27%1.27%72.1126.03$ 4.4BNone
MDU Resources Group IncMDUUnited States$ 55.9Mkr 552.7M1.26%1.26%19.8821.15$ 4.2BNone
TransAlta CorpTA.TOCanada$ 49.5Mkr 490.1M1.13%1.13%17.15—$ 5.4BBuy
Gujarat Gas LtdGUJGASLTD.NSIndia$ 46.5Mkr 460.2M1.43%1.43%————
Siemens Energy India LtdENRIN.NSIndia$ 37.6Mkr 372.2M0.27%0.27%3200.1076.50$ 1.1TBuy
Drax Group PLCDRX.LUnited Kingdom$ 33.6Mkr 332.6M0.99%0.99%805.0089.44$ 2.7BBuy
Indraprastha Gas LtdIGL.NSIndia$ 30.7Mkr 303.8M1.26%1.26%154.0216.87$ 215.6BBuy
Torrent Power LtdTORNTPOWER.NSIndia$ 26.6Mkr 262.9M0.35%0.35%1270.2027.58$ 640.1BBuy
ReNew Energy Global PLCRNWIndia$ 21.8Mkr 216.0M0.96%1.42%6.8622.13$ 2.5BBuy
Adani Total Gas LtdATGL.NSIndia$ 11.5Mkr 113.8M0.14%0.14%609.40106.17$ 670.2BNone
KPI Green Energy LtdKPIGREEN.NSIndia$ 9.7Mkr 96.4M1.17%1.17%292.0512.65$ 57.7BNone
NTPC Green Energy LtdNTPCGREEN.NSIndia$ 6.6Mkr 65.4M0.08%0.08%88.44142.65$ 745.2BNone
Mahanagar Gas LtdMGL.NSIndia$ 6.4Mkr 63.4M0.52%0.52%1103.2015.24$ 109.0BBuy
SJVN LtdSJVN.NSIndia$ 4.8Mkr 47.2M0.16%0.16%65.8737.43$ 258.9BNone
Solv Energy IncMWHUnited States$ 4.4Mkr 43.8M0.06%0.06%26.1844.37$ 5.3BStrong Buy
Telecom Plus PLCTEP.LUnited Kingdom$ 1.2Mkr 12.4M0.16%0.16%815.008.15$ 633.1MNone