Energy Stocks Edge Higher in Response to a Peak Season for Power Consumption
Energy stocks edged higher in the morning session on May 27, 2021 in response to a peak season for power consumption.
Energy stocks edged higher in the morning session on May 27, 2021 in response to a peak season for power consumption.
27 พ.ค. 2564

Energy stocks edged higher in the morning session on May 27, 2021. As of 11.24 local time in Thailand, B.Grimm Power (BGRIM) rose 5.42% or 2.25 baht per share to 43.75 baht, with a trading value of 868 million baht.
Global Power Synergy (GPSC) rose 3.93% or 2.75 baht per share to 72.75 baht, with a trading value of 1,153 million baht.
Electricity Generating (EGCO) rose 3.55% or 6.00 baht per share to 175.00 baht, with a trading value of 291 million baht.
Energy Absolute (EA) rose 3.39% or 2.00 baht per share to 61.00 baht, with a trading value of 741 million baht.
Gulf Energy Development (GULF) rose 2.27% or 0.75 baht per share to 33.75 baht, with a trading value of 246 million baht. 
 
DBS Vickers Securities (DBSVS) stated that its top picks in the energy sector are BGRIM (TP: 58 baht), GPSC (TP: 95 abht), and GULF (TP: 39.25 baht), as 2Q21 is a peak season for electricity consumption. Demand from industrial users (IU) is likely to increase year over year (YoY) during this quarter, as production has been brought back to full capacity.
Additionally, in 2Q21, BGRIM and GSPC started a new COD. As a result, electricity sales in this quarter are expected to increase both year over year and quarter over quarter, potentially resulting in an increase in core profit.