Thai Power Stocks: Which 8 Are Surging? Here's the Breakdown

Power generation stocks are beating savings accounts year after year. If you’re thinking about energy plays in Thailand, here’s what’s moving:

The Winners (YTD Performance)

• GULF: +54.49% → Net profit 8.24B baht in H1, current price 66.50 THB. Planning massive 5-year renewable energy pivot.
• CKP: +19.02% → Diversifying from construction into hydro, solar, cogeneration. Profit turned negative (-387M) but stock bouncing.
• GUNKUL: +2.86% → 5B baht revenue, building peer-to-peer energy trading platform. Analysts see potential to 5 THB.
• SSP: -25.62% but analysts project +50.85% upside. Targeting 30B+ baht asset expansion across Asia by 2025.

The Struggling Ones

• EA (Energy Absolute): -81.36% YTD. Why? Massive losses on EV bus/battery bets. Current 7.80 THB but analysts still bullish at 35 THB target.
• BANPU: -5.88% despite 90.67B baht revenue. 3,656 MW capacity spread across 8 countries, but market mood is cold.
• BGRIM: -12.66% after renewable energy contracts. Stock at 23.40 THB, analysts think fair value is 26.66 THB.

Why This Matters Thailand’s electricity demand keeps growing. Government backing both conventional (PDP) and renewable energy (AEDP) means steady contracts. Power stocks = defensive plays during market turbulence. But recent performance shows sentiment matters: renewables leaders (GULF) crushing it while old guard (BANPU, GPSC -3.09%) treading water.

The Play Want in? Thai brokerage (min 100 shares, ~5K THB entry) or CFD trading via international brokers (leverage, short selling possible). GULF’s momentum + GUNKUL’s innovation angle = hottest bets right now.