I just noticed that power generation stocks still remain an interesting choice for long-term investors in the Thai stock market, especially during volatile market periods.

In fact, power generation businesses are quite stable because electricity is essential regardless of the economic situation. Factories, shops, and households all need electricity. Therefore, the revenue of power companies is quite reliable, and this is why these stocks are considered "defensive stocks."

Currently, in the Thai stock market, there are several large power companies worth watching, such as GULF, with a market value of over 795 billion baht, leading the industry, or EGCO, with a market value of 63 billion baht, which has been a major private power producer since the early days. These companies all have a relatively consistent dividend payment history.

Another company to watch is RATCH, which is supported by the Electricity Generating Authority of Thailand (EGAT), holding about 45% of shares. This provides confidence in stability and long-term relationships. GPSC is another company with a reasonable P/E ratio of 18.7 times.

For companies focusing on clean energy, BCPG and EA are gaining more attention because the global green energy trend continues to grow. Although their P/E ratios are higher, this reflects market expectations for their future. BGRIM has also expanded into various sectors beyond power generation.

Why invest in them? First, their income is quite stable due to long-term power purchase agreements with the government and private sectors. Second, dividends are consistent, making them suitable for passive income seekers. Third, this business is supported by the government through the PDP and AEDP plans, ensuring confidence in long-term policies.

Power generation stocks still deserve to be part of a long-term investment portfolio, especially for those seeking stability and dividend payments. Although they may not grow rapidly, their stability and continuity are what give these stocks value.