BUZZ-Utilities: Berenberg banks on resilience to low power prices

** Berenberg's top picks among utilities are Suez Environnement (Other OTC: SZEVF - news) , Veolia Environnement (Other OTC: VEOEF - news) , ENGIE (Other OTC: ENGIY - news) , Enel (Milan: ENEL.MI - news) and Centrica (Amsterdam: CC8.AS - news) , saying they were better able to weather the downturn in power prices

** Says Suez, Veolia are more resilient due to their water and waste businesses. Centrica (LSE: CNA.L - news) , ENGIE and SSE (Other OTC: SSEZF - news) have enough cash flow, balance sheet capacity and/or reserves to underpin div plans, plus management appears determined to avoid a div cut, it says

** Says its bottom picks are Verbund (Other OTC: OEZVF - news) , RWE (Other OTC: RWNEF - news) , EDF (Paris: FR0010242511 - news) , Fortum (Other OTC: FOJCF - news) and E.ON, forecasting dividend cuts

** Downgrades Endesa, EDP Renovaveis (EUREX: EDRF.EX - news) (EDPR), E.ON, Fortum, EDF and RWE, upgrades Gas Natural (AMEX: EGAS - news)

** Sees (Shanghai: 600481.SS - news) 2 pct upside for sector as a whole, rates it "neutral" (RM: maria.sheahan.thomsonreuters.com@reuters.net)