Marketletter 3Q14
Annex
Marketletter
INDEX
Introduction
I. Analysis of the Results of the Consolidated Companies
3
II. Analysis of the Results of the Parent Company
12
III. Eletrobras Information
16
IV. Attachment: Subsidiary Companies Information
IV.1. Generation and Transmission Companies
31
Itaipu
32
Furnas
40
Chesf
67
Eletronorte
94
Eletronuclear
112
Eletrosul
120
CGTEE
145
IV.2. Distribution Companies
154
Amazonas Energia
155
Distribuição Acre
169
Distribuição Alagoas
179
Distribuição Piauí
188
Distribuição Rondônia
197
Distribuição Roraima
206
IV.3. Participation Company
215
Eletropar
215
EBR & EBR.B
LISTED
NYSE
ELET3 & ELET6
Conference Call in English
November 17th, 2014
2 p.m. (Brasília time)
11 a.m. (US EST)
4 p.m. (London time)
Phone: (+1 786) 837 9597 (US)
(+44) 20 3318 3776 (UK)
Password: 9532
RI:
Investor Relation
[email protected]
www.eletrobras.com/elb/ri
Tel.: (55) (21) 2514-6331
Marketletter
1.Generation and Transmission Companies
Company
Net Operating
Revenue
(R$ million)
2014
2013
Furnas
Chesf
Eletronorte
Eletrosul
Eletronuclear
CGTEE
4,508
2,555
4,529
788
1,422
252
Service
Result
(R$ million)
2014
2013
3,196
3,153
3,484
777
1,386
184
862
-468
1,298
662
-297
-199
-446
-734
1,629
332
145
-301
Income/Loss
of the Period
(R$ million)
2014
2013
2014
-292
15
1,232
146
-442
-341
373
-421
1,681
496
-26
-144
-578
-269
1,251
184
47
-358
EBITDA
(R$ million)
Margin
EBITDA (%)
2013
2014
2013
-208
-599
1,990
398
363
-247
8.27
-16.48
37.11
62.91
-1.84
-57.41
-6.52
-19.00
57.12
51.22
26.17
-134.80
Installed Capacity
Company
Full Ownership
(a)
Furnas
Chesf
Eletronorte *
Itaipu
Eletronuclear
CGTEE
Eletrosul
Eletrobras
Distribution companies
Total
9,261
10,615
9,350
7,000
1,990
840
428
2,207
41,691
SPE
(b)
1,627
303
121
216
13
2,280
Physical
Aggregation 2014
Total
(a+b)
550
180
46
199
121
1,096
10,888
10,918
9,471
7,000
1,990
840
644
13
2,207
43,971
(b) The company's participation in the project
*
The physical aggregation in 2014 of the distribution companies refers to the trnasfer of the UTE Electron from Eletronorte to Amazonas Energia.
Extension of Transmission Lines - Km
Company
Full Ownership
Furnas
Chesf
Eletronorte
Eletrosul
Distribution companies
Total
(a)
19,878
19,691
10,703
11,140
673
62,085
SPE
(b)
1,234
1,042
890
292
3,458
Physical
Aggregation 2014
Total
(a+b)
10
347
233
588
875
21,112
20,733
11,593
11,432
673
65,543
(b) The company's participation in the project
Energy Sold – MWh
Itaipu
Furnas*
Chesf
Eletronorte
Eletronuclear
Eletrosul*
CGTEE
Total
9M14
9M13
58,221,995
29,815,191
41,667,175
39,323,619
10,060,114
1,479,625
3,057,223
183,624,941
66,780,113
31,534,839
43,461,537
39,445,890
10,269,857
1,460,412
2,784,624
195,737,272
* The data related to energy sold do not include the CCEE liquidation part.
31
MARKETLETTER
Balance Sheet
(In US$)
Financial Statements for Consolidation Purposes
Assets
Current Assets
Cash and cash equivalents
Accounts receivable from clients
Stored materials
Obligation to receive
Legal deposits
Other accounts receivable
Current Assets Total
Non-Current Assets
Obligations to receive
Legal deposits
Results to compensate
From previous periods
Result for the period
Property, unit and equipment
Intangible
Total Non-Current Assets
Total Assets
09.30.14
12.31.13
356,548,809
955,500,537
6,211,385
3,289,154
34,027,482
38,708,252
1,394,285,619
387,365,027
1,007,320,522
6,656,848
3,288,033
21,106,491
63,452,965
1,489,189,886
212,920,439
25,459,614
238,380,053
200,840,198
43,953,374
244,793,572
-2,131,418,858
-898,199,553
-3,029,618,411
17,469,136,840
23,618,731
14,701,517,213
16,095,802,832
-942,516,046
-1,188,902,812
-2,131,418,858
17,488,882,033
22,288,878
15,624,545,625
17,113,735,511
32
Marketletter
Liabilities and Stockholders’ Equity
09.30.14
12.31.13
Current Liabilities
Loans and Financing
Remuneration and reimbursement
Suppliers
Pay roll and social obligations
Labor indemnities
Provision for lawsuits
Other obligations
Total Current Liabilities
1,224,328,703
652,985,176
17,992,813
75,711,104
12,571,237
105,597,140
5,637,104
2,094,823,277
1,168,918,872
713,493,716
59,514,157
58,919,188
27,505,259
134,774,746
3,357,166
2,166,483,104
Non-Current Liabilities
Loans and financing
Remuneration and reimbursement
Labor indemnities
Post-Emplyment benefits
Provision for lawsuits
Other obligations
Total Liabilities
11,752,825,669
363,568,609
1,705,849,965
75,265,708
3,469,604
15,995,802,832
12,675,882,137
345,044,078
1,696,400,179
126,411,007
3,515,006
17,013,735,51
Stockholders’ Equity
Capital
Centrais Elétricas Brasileiras SA
Administración Nacional de Electricidad
Total Stockholders’ Equity
Total Liabilities and Net Stockholders’ Equity
50,000,000
50,000,000
100,000,000
16,095,802,832
50,000,000
50,000,000
100,000,000
17,113,735,511
33
Marketletter
Statement of Income
(US$)
Operating Revenues
Power supply
Remuneration on power assignment
Reimbursement of charges – non assured Energy
Operating Revenue Total
Operating Expenses
Remunerations and reimbursements
Capital income
Remuneration on power assignment
Assured Energy
Royalties
Reimbursement of charges – administration and supervision
Non assured Energy
Royalties
Reimbursement of charges – administration and supervision
Operating expenses
Administrative and general expenses
Personnel
Actuarial Provisions
Materials
Third-part related services
Provision for lawsuits
Other operating expenses
Total of operating expenses
Result of Service
Other revenues / expenses
Sundry Revenues
Sundry Expenses
Financial Revenues
Income from financial applications
Moratory increase on Energy invoices
Other financial revenues
Financial Expenses
Debt charges
Non-debt charges
Charges on remunerations and reimbursements
Monetary adjustment
Other financial expenses
Financial Result
Net income for the period
09.30.14
09.30.13
2,468,259,000
244,856,874
57,808,144
2,770,924,018
2,468,259,000
285,961,270
100,737,904
2,854,958,174
-36,527,374
-244,856,874
-36,061,488
-285,961,270
-305,455,538
-23,496,580
-303,278,300
-23,329,100
-53,678,990
-4,129,154
-668,144,510
-93,542,340
-7,195,564
-749,368,062
-434,751,198
-11,958,760
-64,479,061
73,973,241
-103,249,560
-540,465,338
-1,208,609,848
1,562,314,170
-443,876,269
-9,186,621
-75,126,737
19,489,448
-63,605,453
-572,305,632
-1,321,673,694
1,533,284,480
2,394,932
-38,374,975
-35,980,043
6,303,862
-5,607,261
696,601
41,872,428
2,252,485
2,616,700
46,741,613
16,732,104
2,305,946
19,038,050
-672,170,510
-2,108,825
-567,860
-28,992
-674,876,187
-1,878,646
-726,429,610
87,717,364
-5,695
-640,596,587
-628,134,574
898,199,553
-621,558,537
912,422,544
34
Marketletter
Cash Flow
(US$)
Operating Activities
Net income for the period
Adjustments
Disposal of Fixed Assets - sales
Monetary Variation on Financing and loans
Monetary Variation on Estimated Obligations
Liability provisions
Financial charges to be capitalized
Financial charges not to be capitalized
Estimated Obligations
Adjusted Income
Variations in Assets and Liabilities
Accounts Receivable variation – Rendering of Services
Stored Material variation
Other Credits variation
Remuneration and reimbursement variation
Suppliers and other variations
Payment-roll and social obligation variation
Payment of the Estimated Obligation
Net Operating Cash Flow
Investment Activities
Property, unit and equipment and intangible
Balance of the Investment Activities
Financing Activities
Loans and financing obtained
Amortization of the Loans and Financing
Payment of interest on Loans and Financing
Balance of the Financing Activities
Total of Cash Effects
Cash and cash equivalent – beginning of period
Cash and cash equivalent – end of period
Total of Cash Effects
09.30.14
09.30.13
898,199,553
912,422,544
38,097,289
200,791
2,160,682
5,095,874
-1,838,017
-111,438,314
672,172,985
121,630,846
1,732,462,146
1,878,646
726,429,610
69,060,723
1,601,611,066
51,819,984
445,463
19,160,639
-60,508,540
-39,286,811
16,791,916
-191,074,136
-202,651,485
1,529,810,661
-19,436,566
-2,023,116
29,998,412
9,762,002
-59,747,932
16,242,502
-115,247,641
-140,452,339
1,461,158,727
-19,681,949
-19,681,949
-20,059,008
-20,059,008
2,250,000
-871,773,989
-671,420,941
-1,540,944,930
-30,816,218
387,365,027
356,548,809
-30,816,218
22,049,560
-806,866,819
-728,505,749
-1,513,323,008
-72,223,289
534,263,722
462,040,433
-72,223,289
35
Marketletter
Market Data
1. Generation Assets and Energy generated
Own assets
Unit
Installed
Capacity
(MW)
Guaranteed
Energy (MW
Average)
Itaipu Binacional
14,000
8,577
Energy Generated (MWh)
1Q14
2Q14
3Q14
23,251,103
22,061,975
20,848,730
Unit
Participation
(%)
Location (State)
Beginning of Operation
End of Concession
Itaipu Binacional
50%
Brazil (Paraná) and
Paraguay (Alto Paraná)
03/1985
-
2. Electric energy purchased for resale - N/A
3. Energy sold
Own assets
Sales
model
Buyer
A
B
A
B
A
B
Eletrobras System
Others
Total
1Q14
US$ Million*
741,4
81,4
822,8
2Q14
US$ Million*
MWh
20,103,482
2,983,783
23,087,265
759,2
63,6
822,8
MWh
19,767,360
2,135,060
21,902,420
3Q14
US$ Million*
761,9
60,8
822,7
MWh
18,351,153
2,359,017
20,710,170
A - Through auction
B - Through free market agreements or bilateral contracts
*Only assured energy
4. CCEE settlement (Spot and MRE) – N/A
5. Fuel used to produce electricity– N/A
6. Losses in generation - %
1Q14
2Q14
3Q14
0.70
0.72
0.66
1Q14
2Q14
3Q14
22.60
22.60
22.60
7. Average price– US$/KW
Own assets
36
Marketletter
8.Extension of transmission lines – Km – N/A
9.Losses in transmission – N/A
10. Main Investments – US$ Million
Project
1Q14
2Q14
3Q14
Budget
0.9
0.5
0.3
2,5
4,2
1,7
0.6
1,0
6,2
9,5
0.4
1,2
0.1
4,3
6,0
-
Generation
Permanent
Technical Reserve
Softwares
Other investments
Total
11. New investments – N/A
12. Loans and financing – US$ million
Local currency - LC
Creditor
Balance
03.31.14
Balance
06.30.14
Balance
09.30.14
Due
FIBRA – Fundação Itaipu – BR
36,8
37,8
33,4
2023
Index
6.0% + INPC
Foreign currency - FC
Creditor
Eletrobras
National Treasury - Cession
Restructuring of foreign debt
CAJUBI – Fundação Itaipu - PY
ITAU Paraguay
TOTAL
Balance
03.31.14
4,912,1
8,289,4
256,9
70,8
13,529,2
Balance
06.30.14
Balance
09.30.14
4,740,2
8,176,2
244,9
69,4
13,230,7
4,565,7
8,061,2
246,8
67,8
2,2
12,943,7
Due Date
Currency
2014/2021/2023
2023
2013/2023
2021/2022
2016
US$
US$
US$
US$
US$
13. Contracts – US$ million
13.1. Loans and financing
Loans and financing
By activity
Generation
By creditor
Eletrobras
Others
2014
2015
2016
2017
2018
After 2018
Total
299,6
1,242,3
1,326,2
1,410,9
1,505,3
7,192,8
12,977,1
177,0
122,6
596,6
645,7
485,1
841,1
516,7
894,2
550,7
954,6
2,239,5
4,953,3
4,565,6
8,411,5
37
Marketletter
14. Number of employees
14.1.By tenure
Generation
Brazilian Margin (Left Margin)
Composition of employees by tenure
(Years)
1Q14
Up to 5
6 to 10
11 to15
16 to 20
21 to 25
beyond 25
Total
2Q14
369
380
125
161
108
262
1,405
355
393
134
158
85
289
1,414
3Q14
356
403
125
151
53
289
1,377
Paraguayan Margin (Right Margin)
Composition of employees by tenure
(Years)
1Q14
Up to 5
6 to 10
11 to15
16 to 20
21 to 25
beyond 25
Total
2Q14
579
209
281
2
394
346
1,811
551
240
268
351
364
1,774
3Q14
383
390
47
243
109
590
1,762
14.2. By region
State
Itaipu Hydrolectric Unit 3
Paraná – Brazil
São Paulo – Brazil
Brasília – Brazil
Paraguay
Total
3
1Q14
Number of employees
2Q14
2,162
313
01
03
737
3,216
2,138
311
01
03
735
3,188
3Q14
2,115
301
01
03
719
3,139
Located in Foz do Iguaçu-Paraná-Brasil and Hernandárias-Alto Paraná-Paraguay.
Brazilian Margin (Left Margin)
State
Usina Hidrelétrica de Itaipu*
Paraná – Brasil
São Paulo – Brasil
Brasília – Brasil
Paraguai
Total
3
1Q14
1,100
301
01
03
1,405
Number of employees
2Q14
3Q14
1,094
316
01
03
1,414
1,084
289
01
03
1,377
Number of employees
2Q14
3Q14
Located in Foz do Iguaçu-Paraná-Brasil and Hernandárias-Alto Paraná-Paraguay.
Paraguayan Margin (Right Margin)
State
Usina Hidrelétrica de Itaipu*
Paraná – Brasil
São Paulo – Brasil
Brasília – Brasil
Paraguai
Total
3
1Q14
1,062
12
737
1,811
1,039
12
723
1,774
1,031
12
719
1,762
Located in Foz do Iguaçu-Paraná-Brasil and Hernandárias-Alto Paraná-Paraguay.
38
Marketletter
14.3. By departments
Department
Field
Administrative
1Q14
Number of employees
2Q14
3Q14
747
2,469
727
2,461
715
2,424
Brazilian Margin
Department
1Q14
Field
Administrative
Number of employees
2Q14
380
1,009
377
1,037
3Q14
375
1,002
Paraguayan Margin
Department
1Q14
Field
Administrative
Number of employees
2Q14
367
1,444
350
1,424
3Q14
340
1,422
15. Complementary work force – N/A
16. Turn-over - %
1Q14
2Q14
3Q14
0.0109
0.0047
0.0121
Brazilian Margin
1Q14
2Q14
3Q14
0,0112
0,0064
0,0144
Paraguayan Margin
1Q14
2Q14
3Q14
0,0113
0,0124
0,0152
39
Marketletter
Balance Sheet
(R$ thousand)
Financial Statements for Consolidation Purposes
Assets
Current Assets
Availabilities
Clients (Consumers and resellers)
Loans and financing - principal
Marketable Securities
Dividends to receive (Remuneration of equity participation)
Fiscal Assets deferred (Taxes and contributions)
Income Tax and Social Contribution
Reimbursement Rights – CCC (12,111 law)
Linked deposits
Stored materials
Financial Asset
Receivables - 12,783/13 Law
Others
Current Assets Total
.
Non-Current Assets
Clients (Consumers and resellers)
Loans and financing - principal
Marketable Securities
Fiscal Assets deferred (Taxes and contributions)
Income Tax and Social Contribution
Reimbursement Rights – CCC (12,111 law)
Linked deposits
Financial Asset
Receivables - 12,783/13 Law
Others
Advances for equity participation
INVESTMENTS
FIXED ASSETS
INTANGIBLE
Non-Current Assets Total
Assets Total
09.30.14
09.30.13
2,059
584,892
3,080
949,106
41,445
7,671
217,022
247,306
23,599
1,430,894
215,598
3,722,672
3,691
570,176
3,435
718,664
21,143
127,998
379,042
15,331
24,218
1,499,440
216,667
3,579,805
395,231
3,893
394,052
79,662
532,140
6,469,038
185,669
51,811
8,111,496
5,087,705
5,851,221
100,909
19,151,331
22,874,003
319,501
5,324
961,326
308,720
457,326
6,346,070
1,005,772
190,700
9,594,739
4,547,271
5,812,053
93,964
20,048,027
23,627,832
40
Marketletter
Liabilities and Stockholders’ Equity
09.30.14
09.30.13
Current Liabilities
Suppliers
Loans and financing
Taxes and social contribution
Income Tax and Social Contribution
Derivatives
Estimated obligations
Advances from consumers
Shareholders remuneration (dividends payable)
Provisions for contingencies
Post-employment benefit (complementary Pension Fund)
Leasing
Onerous Contracts
Concessions to pay - UBP
Sectorial charges (regulatory taxes)
Incentive to personnel retirement
Others
Current Liabilities Total
560,529
504,957
258,211
102,674
184,663
79,617
508
134,332
24,199
1,849,690
251,700
427,826
308,120
191,610
70,967
134,414
320,205
24,414
1,729,256
Non-Current Liabilities
Suppliers
Loans and financing - Principal
Taxes and social contribution
Income Tax and Social Contribution
Derivatives
Advances from consumers (energy sell in advance)
Estimated Obligations
Provisions for contingencies
Provision for onerous contract
Post-employment benefit (Complementary Pension Fund)
Concessions to pay - UBP
Sectorial charges (regulatory taxes)
Advance for future Capital Increase
Others
Non-Current Liabilities Total
7,793,101
724,696
537,364
782,213
172,313
37,104
90,880
37,490
1
10,175,162
7,330,140
488,753
1,026,350
1,132,685
611,188
39,669
74,920
33,948
1
10,737,654
6,531,154
5,528,986
-291,645
-919,344
-
6,531,154
5,690,383
493,059
-578,088
-975,586
-
Stockholders’ Equity Total
10,849,151
11,160,922
Non-Current Liabilities and Stockholders’ Equity Total
22,874,003
23,627,832
Stockholders’ Equity
Social Capital
Capital reserves
Profit reserves
Additional dividends proposed
Accrued profit/losses
Other comprehensive income
Non-controlling participation
41
Marketletter
Statement of Income by Activity
(R$ thousand)
09.30.14
Operating Revenue
Generation
Plant Supply
Energy Supply
Short term electric Energy (CCEE)
O&M Revenue of Renewed Plants
Construction Revenue
Return on Investment - G
09.30.13
2,601,568
11,283
856,977
415,787
45,730
-
1,735,034
62,186
362,356
399,842
70,109
-
625,344
309,733
153,184
34,431
529,243
17,726
248,688
133,322
55,797
-545,712
4,508,325
-418,698
3,195,605
-862,261
-314,346
-371,003
-355,463
-605,869
-302,717
-280,821
-318,797
-1,254,971
-98,444
-163,985
-22,353
-69,592
-133,937
-3,646,355
-1,339,875
-113,978
-134,125
-18,958
-438,983
-87,415
-3,641,538
Result of equity participation
Operating Result before Financial Result
-652,998
208,972
103,335
(342,598)
Financial Result
Result before Income Tax / Social Contribution
-307,473
-98,501
-158,495
-501,093
-136,415
-56,729
-291,645
-20,383
-56,612
-578,088
Transmission
O&M Renewed Transmission Lines Revenue
O&M Revenue
Construction Revenue – Transmission
Return on Investment - T
Other Operating Revenue
Deductions to Operating Revenue
Net Operating Revenue
Operating Cost
Electric Energy purchased for resale
Charges on the use of electric grid
Fuel for production of electric Energy - CCC
Construction costs
.
Operating Expenses
Personnel, Material and Third-part related Service
Remuneration and reimbursement
Depreciation and amortization
Donations and Contributions
Provisions
Others
Operating Costs and Expenses
Current Income Tax and and social contribution
Deferred Income Tax and and social contribution
Net income for the period
42
Marketletter
Cash Flow
(R$ thousand)
Cash Flow
09.30.2014
09.30.2013
OPERATING ACTIVITIES
Profit/Loss before income tax and social contribution
Depreciation and amortization
Net monetary and currency variations
Financial charges
Equity Equivalency Result
Provision for uncovered liability
Provision for credits of questionable liquidation
Provision for contingencies
Provision for staff realignment
Impairment – Onerous contract
Global reversal reserve charges
Adjustment to present value / market value
Minority Participation in the Results
Charges on shareholders funds
Financing assets Revenue - IRR
Derivative financial instruments
Others
Variation in operating assets / liabilities
Cash generated in operating activities
-98,501
163,985
107,178
599,621
652,998
50,433
-17,945
-11,485
-219,006
214,418
-153,184
-201,834
43,121
1,129,799
-501,093
134,126
62,233
371,371
-103,335
21,848
161,171
328,906
-357,530
198,879
-133,323
-185,400
93,029
90,882
Financial charges paid
Payment of global reversal reserve charges
Financial charges received
Remuneration received from equity participation
Financial asset revenue by RAP
Receiving compensation for financial asset
Payment of income tax and social contribution
Payment of pension fund
Lawsuits payment
Legal deposits
Net cash operating activities
-505,781
-194,178
714
60,496
172,972
993,465
-193,049
-13,744
1,450,694
-368,928
-155,135
5,635
63,100
151,314
1,472,959
-121,945
-54,442
1,083,440
422,588
-259,291
-47,849
115,448
1,392,455
-438,087
-48,221
906,147
-94,417
-4,566
-355,463
-941,392
-174,941
-1,570,779
-234,451
-14,522
-318,798
-984,626
-435,961
-1,988,358
-4,637
1,229
6,696
2,059
-4,637
2,462
3,691
1,229
FINANCING ACTIVITIES
Loans and financing obtained
Loans and financing payable – principal
Payment of Shareholders remuneration
Payment on refinancing of taxes and contributions - Principal
Receipt of Advance for future Capital Increase
Others
Net financing activities
INVESTMENT ACTIVITIES
Concession of Loans and Financing
Acquisition of fixed asset
Acquisition of intangible asset
Acquisition of Concession asset
Advance for future capital increase
Acquisition of equity participation
Others
Net cash investment activities
Increase (decrease) in cash and cash equivalent
Cash and cash equivalent – beginning of period – 12/31/13
Cash and cash equivalent – end of period – 03/31/14
43
Marketletter
Analysis of the result
3Q14 x 2Q14
The Company had a net loss in the 3Q14 483.8% higher than that recorded in the previous quarter, from a net profit of R$ 107.1 million in the
2Q14 to a loss of R$ (376.7) million in the 3Q14, mainly due the factors described below.
Operating Revenue
In generation:
The supply of electricity for distribution companies increased by 40.1%, from R$ 803.3 million in the 2Q14 to R$ 1,132.4 million in the 3Q14,
primarily due to higher volume of energy traded in the 3Q14, for the energy sold at auction A-0 started to be delivered in May, i.e., one month
less than the 3Q14.
The short-term electricity decreased by 100%, due to the fact that there was no sale of electricity in the spot market in the 3Q14.
Revenue from operation and maintenance of renewed power plants increased by 6.6%, from R$ 131 million in the 2Q14 to R$ 139.2 million in the
3Q14, mainly due to the increase in revenue from the Annual Generation Revenue (RAG) in the 3Q14.
Transmission:
Revenue from operation and maintenance increased by 24.1%, from R$ 194.1 million in the 2Q14, to R$ 240.9 million in the 3Q14, primarily due
to increased revenue from contract 062/2001.
The remuneration of financial assets increased by 34.8%, from R$ 45.9 million in the 2Q14 to R$ 61.8 million in the 3Q14, primarily due to
increased revenue from contracts.
Other revenues had increased 95%, from R$ 9.2 million in the 2Q14 for R$ 18 million in the 3Q14, primarily due to increased revenues from
service delivery.
Operating Expenses
Expenses for personnel, material and third-part related services decreased by 7.7%, from R$ (464.8) million in the 2Q14, for R$ (429.1) million
in the 3Q14, mainly due to the provision, in the 2Q14 of R$ 62.1 million of labor claims against R$ 8.5 million in the 3Q14.
Electricity purchased for resale increased by 140.8% from R$ (216.3) million, in the 2Q14, for R$ (520.1) million, in the 3Q14, primarily due to
increased electricity purchased due to the negative settlement in CCEE, resulting from exposure in the energy market, as of June 2014.
The fuel for electricity production decreased by 29.8%, from R$ (175.7) million in the 2Q14 for R$ (123.4) million in the 3Q14, mainly due to
increased fuel purchase in the 3Q14, due to an increase in production of Santa Cruz Thermoelectric Plant.
Operational provisions had increased 175.1%, from a reversal of R$ 72.7 million in the 2Q14 to a provision of R$ (54.6) million in the 3Q14,
mainly due to the reversal of provisions occurred in the 2Q14 and provision for loss of financial assets, in the 3T14, worth R$ 153 million.
Other operating expenses increased by 122.7%, from R$ (33.1) million in the 2Q14 for R$ (73.9) million in the 3Q14, mainly due to the loss on
disposal of assets and an increase in bank guarantees.
Financial Results
Net monetary decreased by 49.4%, from a loss of R$ (63.0) million in the 2Q14 to a loss of R$ (31.9) million in the 3Q14, due mainly to
increased monetary update over judicial deposits between the 2Q14 and 3Q14.
Other financial expenses decreased by 70.9%, from an expense of R$ (66.4) million in the 2Q14 to an expense of R$ (19.3) million in the 3Q14,
mainly due to lower expenses with taxes installments.
Compensation of indemnities of Law 12,783/13 increased by 22.8%, from R$ 63.3 million in the 2Q14 to R$ 77.7 million in the 3Q14, mainly due
to the accounting of monetary updates.
Shareholding Participations
The result from equity investments decreased by 12,243.7% from a gain of R$ 3.1 million in the 2Q14 to a loss of R$ (382.4) million in the 3Q14,
mainly due to the decrease in income from equity accounting of Furnas on their investments in SPEs, especially in Madeira Energia S/A for R$
790 million.
44
Marketletter
Market Data
1.Generation Assets and Energy generated
1.1.Own assets
Installed
Capacity
(MW)
Unit
Guaranteed
Energy
(MW Average)
Energy generated (MWh)
1Q14
Furnas
Luis Carlos Barreto (Estreito)
Mascarenhas de Moraes
Porto Colômbia
Marimbondo
1,216
1,050
476
320
1,440
598
495
295
185
726
Itumbiara
Funil
Corumbá I
Simplício
Batalha
2,082
216
375
306
52,50
1,015
121
209
192
48,8
674,710
474,488
1,381,554
1,868,252
196,127
528,348
234,156
-
Serra da Mesa (48.46%)*
Manso (70%)
Santa Cruz
Roberto Silveira (Campos)
Neblina **
Sinceridade **
Dona Rita **
1,275
212
932
30
6,468
1,416
2,41
671
92
687
21
4,66
0,37
1,03
423,723*
177,118*
550,325
8,513
724
-
1,294,259
1,058,550
2Q14
3Q14
210,867
232,215
146,381
153,527
379,294
1,030,043
217,655
601,538
721,343
62,858
244,889*
115,069*
721,343
3,004
3,421
683
-
384,912
423,621
262,850
208,404
425,447
1,638,817
151,422
384,947
37,071
66,409
781,664*
97,586*
723,368
353
687
-
* Contemplates percentage of participation of Furnas
**Desconsidered in the total of Eletrobras installed capacity
Unit
Furnas
Luis Carlos Barreto (Estreito)
Mascarenhas de Moraes
Porto Colômbia
Marimbondo
Itumbiara
Funil
Corumbá I
Simplício
Batalha
Serra da Mesa
Manso
Santa Cruz
Roberto Silveira (Campos)
Neblina
Sinceridade
Dona Rita
Location
(State)
MG
SP/MG
MG
MG/SP
SP/MG
GO/MG
RJ
GO
RJ
MG
GO
MT
RJ
RJ
MG
MG
MG
Beginning of Operation
03/1963
01/1969
04/1973
03/1973
04/1975
02/1980
04/1969
04/1997
06/2013
05/2014
04/1998
10/2000
03/1967
04/1977
04/2013
04/2013
06/2013
End of Concession
12/2042
12/2042
10/2023
12/2042
12/2042
02/2020
12/2042
12/2042
08/2041
08/2041
11/2038
02/2035
12/2042
07/2027
*
*
*
* Under resposability of Furnas until the conclusion of new bidding to HEU’s Concession
45
Marketletter
1.2.SPE
SPE
Installed
Capacity
(MW)
Unit
Enerpeixe S.A.
Baguari Geração de
Energia S.A.
Retiro Baixo Energética
S.A.
Foz de Chapecó Energia
S.A.
Serra do Facão Energia
S.A.
Madeira Energia S.A.
Brasventos Miassaba 3
Geradora de Energia S.A
Brasventos Eolo Geradora
de Energia S.A.
Rei dos Ventos 3
Geradora de Energia S.A.
2Q14
3Q14
271
706,488,88
478,951,01
526,255,84
140
80.20
172,419,63
43,063
27,345
82
39
41,249,40
14,391,26
-
855
432
1,032,086,92
1,372,496,19
1,481,099,29
452
UHE Baguari
UHE Foz de Chapecó
Energy generated (MWh)
1Q14
UHE Peixe Angical and
TL Associada
UHE Retiro Baixo
Guaranteed
Energy
(MW Average)
UHE Serra do Facão
212,6
182
185,079
255,787
236,398
UHE Santo Antônio*
Parque Eólico
Miassaba 3
Parque Eólico
Rei dos Ventos 1
Parque Eólico
Rei dos Ventos 3
3.568,8
2.342,03
1,004,796
1,112,793,72
2,646,625.90
68,47
22,8
43,316,00
30,074,00
59,361,00
58,45
21,9
22,572,00
23,435,00
46,517,00
60,12
21,1
37,238,00
30,122,00
55,427,00
*26 units in Operation up to 3Q14, totalling 2,286.08 MW
Participação
(%)
Usina
UHE Peixe Angical
UHE Baguari
UHE Retiro Baixo
UHE Foz de Chapecó
UHE Serra do Facão
UHE Santo Antônio
Brasventos Miassaba 3 Geradora de Energia S.A
Brasventos Eolo Geradora de Energia S.A.
Rei dos Ventos 3 Geradora de Energia S.A.
Localização
(Estado)
40.0
15.0
49.0
40.0
49.5
39.0
24.5
24.5
24.5
TO
MG
MG
RS/SC
GO
RO
RN
RN
RN
Início da
Operação
06/2006
09/2009
03/2010
10/2010
07/2010
03/2012
02/2014
02/2014
02/2014
Fim da
Operação
11/2036
08/2041
08/2041
11/2036
11/2036
06/2043
08/2045
12/2045
12/2045
2.Electric energy purchased for resale
2.1.Own assets
System
Eletrobras
Others
Total
Unit
MWh
R$ Million
MWh
R$ Million
MWh
R$ Million
1Q14
2Q14
-
3Q14
812,411
138,10
761,971
119,31
908,429
208,74
812,411
138,10
761,971
119,31
908,429
208,74
2.2. SPE
UHE Foz de Chapecó
System
Eletrobras
Others
Total
Unit
MWh
R$ Million
MWh
R$ Million
MWh
R$ Million
1Q14
2Q14
3Q14
-
-
-
46
Marketletter
UHE Santo Antônio
System
Unit
MWh
R$ Million
MWh
R$ Million
MWh
R$ Million
Eletrobras
Others
Total
1Q14
2Q14
1,457,019,23
343,42
1,457,019,23
343,42
876,556,89
363,48
876,556,89
363,48
1Q14
2Q14
17,890,00
14,284,868,70
17,890,00
14,284,868,70
15,840,00
6,02
15,840,00
6,02
3Q14
769,707.50
199,89
769,707.50
199,89
UHE Peixe Angical
System
Unit
MWh
R$ Million
MWh
R$ Million
MWh
R$ Million
Eletrobras
Others
Total
3Q14
52,656,00
34,19
52,656,00
34,19
UHE Retiro Baixo
System
Unit
1Q14
MWh
R$ Million
MWh
R$ Million
MWh
R$ Million
Eletrobras
Others
Total
2Q14
-
3Q14
-
-
UHE Baguari*
System
Unit
MWh
R$ Million
MWh
R$ Million
MWh
R$ Million
Eletrobras
Others
Total
1Q14
2Q14
267
0.07
13,368
3,67
13,635
3,74
586
0.08
29,301
4,03
29,887
4,11
3Q14
675
0.16
34,435
8,21
34,435
8,37
*There were expenses with energy purchases on CCEE (free market) on 2014 just because the GSF and FID application, which reduced the physical guarantee
3.Energy sold
3.1.Own assets
3.1.1. Energy sold by enterprises not affected by 12,783 law
Buyer
Eletrobras System
Others
Total
Sales model
1Q14
R$ Million
MWh
2Q14
R$ Million
MWh
A
B
A
B
19,44
17,29
633,08
3,72
128,018
108,050
4,014,791
26,248
27,29
17,47
875,37
3,94
A
B
652,86
21,01
4,142,809
134,298
902,66
21,41
149,710
109,200
4,570,165
27,789
4,719,875
136,989
3Q14
R$ Million
MWh
29,71
17,66
976,32
3,63
1,006,03
21,29
161,398
110,400
5,049,422
25,587
5,210,820
135,986
A – Regulated environment – revenue not from quotas
B - Through free market agreements or bilateral contracts
47
Marketletter
3.1.2. Energy sold by enterprises affected by 12,783 law - O&M
Buyer
Sales model
1Q14
R$ Million
MWh
7,22
138,82
250,334.34
4,806,535.32
A
B
A
Eletrobras System
Others
Total
R$ Million
2Q14
MWh
6,45
124,11
3Q14*
R$ Million
MWh
252,998.70
4,857,692.34
255,778.90
4,911,074
6,78
131,73
B
-
-
-
-
-
-
A
B
146,04
-
5,056,869.66
-
130,56
-
5,110,691.04
-
138,52
-
5,166,852.48
-
A – Regulated environment – revenue from quotas
B - Through free market agreements or bilateral contracts
3.2. SPE
Enerpeixe S.A.
Buyer
Sales model
A
B
A
B
A
B
Eletrobras System
Others
Total
R$ Million
121,41
121,41
-
1Q14
MWh
630,782,84
630,782,84
-
2Q14
R$ Million
MWh
110,86
110,86
-
561,329,05
561,329,05
-
3Q14
R$ Million
MWh
115,46
115,46
-
579,697,79
579,697,79
-
A – Through Auctions
B - Through free market agreements or bilateral contracts
UHE Foz do Chapecó
Buyer
Sales model
A
B
A
B
A
B
Eletrobras System
Others
Total
1Q14
R$ Million
MWh
102,89
71,61
102,89
71,61
571.045,99
373.248,00
571.045,99
373.248,00
2Q14
R$ Million
MWh
99,58
75,63
99,58
75,63
541,444,04
377,395,20
541,444,04
377,395,20
R$ Million
107,62
76,74
107,62
76,74
3Q14
MWh
571,216,35
381,542,40
571,216,35
381,542,40
A – Through Auctions
B - Through free market agreements or bilateral contracts
UHE Santo Antônio
1Q14
Buyer
Eletrobras System
Others
Total
Sales model
A
B
A
B
A
B
R$ Million
6,048
172,599
394,860
178,648
394,860
2Q14
MWh
56,539,00
1,614,463,16
2,648,715,78
1,670,822,16
2,648,715,78
3Q14
R$ Million
MWh
R$
Million
7,296
212,297
434,645
219,683
434,645
67,986,489
1,947,544,79
2,877,961,48
2,016,631,28
2,877,961,49
8,784
255,948
455,273
264,733
455,273
MWh
79,855,32
2,287,540,18
2,798,095,23
2,367,395,51
2,798,095,23
A – Through Auctions
B - Through free market agreements or bilateral contracts
48
Marketletter
UHE Serra do Facão
Buyer
Sales model
1Q14
R$ Million
MWh
A
B
A
B
A
B
Eletrobras System
Others
Total
50,72
20,03
50,72
20,03
279,117
110,211
279,117
110,211
2Q14
R$ Million
MWh
45,83
25,37
45,83
25,37
248,342
137,477
248,342
137,477
3Q14
R$ Million
MWh
48,96
26,06
48,96
26,06
261,157
138,988
261,157
138,988
A – Through Auctions
B - Through free market agreements or bilateral contracts
UHE Retiro Baixo
Buyer
Eletrobras System
Others
Total
Sales model
1Q14
R$ Million
MWh
A
B
A
B
A
B
13,98
0.38
13,98
0.38
83,020,001
2,161,000
83,020,001
2,161,000
2Q14
R$ Million
MWh
12,7
0.4
12,7
0.4
73,831,859
2,184,000
73,831,85
2,184,000
3Q14
R$ Million
MWh
14,41
0.39
14,41
0.39
81,814,000
2,208,000
81,814,000
2,208,000
A – Through Auctions
B - Through free market agreements or bilateral contracts
UHE Baguari
Buyer
Eletrobras System
Others
Total
Sales model
1Q14
R$ Million
A
B
A
B
A
B
0.250
14,229
14,479
-
MWh
0.250
14,229
14,479
-
2Q14
R$ Million
MWh
0.253
13,210
13,464
-
1,493
76,637
78,130
-
3Q14
R$ Million
MWh
0.276
14,033
14,309
-
1,589
79,445
81,034
-
A – Through Auctions
B - Through free market agreements or bilateral contracts
4. CCEE settlement (Spot and MRE)
Unit
Sold
Purchased
Net
1Q14
2Q14
3Q14
R$ Million
MWh
MWaverage
R$ Million
MWh
MWaverage
R$ Million
MWh
541,87
541,87
-
318,04
-
MWaverage
-
-
322,87
-322,87
-
128,90
189,14
-
Note: The result of liquidation in CCEEis published in R$ million, including items diverses, and already involves MRE amounts.
*Short-term liquidation up to August/14.
49
Marketletter
5. Fuel used to produce electricity
Type
Unit
Special Diesel oil
Fuel oil Type B1
Common Diesel oil
Gas
Other *
Ton
Litre
m3
-
Total
1Q14
Quantity
R$ million
-
-
2Q14
Quantity
R$ million
-
Quantity
-
273,018,526
-
103,111
-
419,695,402
-
273,018,526
103,111
419,695,402
-
193,595
193,595
3Q13
R$ million
-
430,455,358
-
135,966
-
430,455,358
135,966
6.Losses in generation - %
1Q14
2Q14
3Q14
1.05
1.05
1.05
7.Average price– R$/MWh
7.1.Own assets – enterprises not affected by 12,783 law
1Q14
2Q14
3Q14
157.55
190.23
192.14
7.1.1. Own assets – enterprises renewed in terms of the 12,783 law – O&M
1Q14
2Q14
3Q14
28.88
25.55
17.92
7.2. SPE
SPE
Enerpeixe S.A.
Retiro Baixo Energética S.A.
Baguari S.A.
Foz de Chapecó Energia S.A.
Serra do Facão Energia S.A.
Madeira Energia S.A.
1Q14
2Q14
3Q14
191.07
168.59
169.19
184.95
181.74
134.27
194.90
172.15
172.32
191.55
184.56
133.71
200.59
176.16
176.59
193.50
187.46
139.39
8.Extension of transmission lines - Km
8.1.Own assets
8.1.1.Transmission line
8.1.1.1. Transmission line – enterprises not affected by 12,783 law
From - To
Ibiúna - Bateias Circuito 1
Ibiúna - Bateias Circuito 2
Tijuco Preto - Itapeti 3
Tijuco Preto - Itapeti 4
Campos - Macaé 3
Batalha - Paracatu
Simplício - Rocha Leão 1
Simplício - Rocha Leão 2
Total
Extension
(km)
332.0
332.0
21.0
21.0
90.0
85.0
119.0
119.0
1,119.0
Tension
(kV)
500
500
345
345
345
138
138
138
Beginning of
Operation
Mar/03
Mar/03
Jan/13
Jan/13
Jun/10
Sep/13
Jan/13
Jan/13
End of
Concession
Mayi/2031
May/2031
Apr/2036
Apr/2036
Mar/2035
Aug/2041
Aug/2041
Aug/2041
50
Marketletter
8.1.1.2. Transmission line – enterprises renewed in terms of 12,783 law - O&M
From - To
Foz do Iguaçu - Ivaiporã 1
Foz do Iguaçu - Ivaiporã 2
Foz do Iguaçu - Ivaiporã 3
Itaberá - Ivaiporã 1
Itaberá - Ivaiporã 2
Itaberá - Ivaiporã 3
Itaberá - Tijuco Preto 1
Itaberá - Tijuco Preto 2
Itaberá - Tijuco Preto 3
Subtotal 765 kV
Foz do Iguaçu - Ibiúna Bipolo 1
Foz do Iguaçu - Ibiúna Bipolo 2
Subtotal 600 kV
Adrianópolis - Baixada Fluminense
Adrianópolis - Cachoeira Paulista 1
Adrianópolis - Grajaú
Adrianópolis - Resende
Adrianópolis - São José
Angra - Cachoeira Paulista
Angra - São José
Angra - Zona Oeste
Araraquara - Campinas
Araraquara - Poços de Caldas
Baixada Fluminense - Cachoeira Paulista
Cachoeira Paulista - Campinas
Cachoeira Paulista - Itajubá
Cachoeira Paulista - Resende
Cachoeira Paulista - Taubaté
Cachoeira Paulista - Tijuco Preto
Campinas - Itatiba 1
Grajaú - Zona Oeste
Gurupi - Miracema
Ibiúna - Itatiba 1
Itumbiara - São Simão
Marimbondo - Água Vermelha
Marimbondo - Araraquara 1
Marimbondo - Araraquara 2
Poços de Caldas - Itajubá
Serra da Mesa - Gurupi
Serra da Mesa - Samambaia 1
Serra da Mesa - Samambaia 2
Tijuco Preto - Taubaté
Subtotal 500 kV
Adrianópolis - Itutinga 1
Adrianópolis - Itutinga 2
Adrianópolis - Jacarepaguá 1
Adrianópolis - Jacarepaguá 2
Adrianópolis - Macaé
Adrianópolis - Venda das Pedras
Bandeirantes - Samambaia 1
Bandeirantes - Samambaia 2
Barro Branco - Ouro Preto
Barro Branco - Padre Fialho
Campinas - Guarulhos
Campinas - Poços de Caldas
Campos - Macaé 1
Campos - Macaé 2
Campos - Viana
Campos - Vitória
Corumbá - Brasília Sul
Corumbá - Itumbiara
Furnas - Estreito
Furnas - Itutinga 1
Furnas - Itutinga 2
Furnas - Mascarenhas de Moraes
Furnas - Pimenta
Extension
(km)
Tension
(kV)
Beginning of
Operation
End of
Concession
322.0
323.0
331.0
265.0
264.0
272.0
305.0
304.0
312.0
2,698.0
792.0
820.0
1,612.0
19.0
171.0
55.0
115.0
33.0
103.0
133.0
97.5
171.0
176.0
160.5
223.0
53.0
56.0
83.0
181.0
26.5
79.0
255.0
86.5
166.0
172.0
195.0
194.0
139.0
256.0
249.0
248.5
108.5
4,005.0
199.0
199.0
38.0
38.0
177.0
107.0
157.0
155.0
59.0
104.5
88.0
126.0
89.0
89.0
199.0
224.0
254.0
79.0
112.0
198.0
199.0
104.0
66.0
765
765
765
765
765
765
765
765
765
Aug/89
Dec/86
Mar/99
Aug/89
Oct/82
May/00
Jul/89
Oct/82
May/01
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
600
600
Mar/85
Aug/87
Dec/42
Dec/42
500
500
500
500
500
500
500
500
500
500
500
500
500
500
500
500
500
500
500
500
500
500
500
500
500
500
500
500
500
Nov/13
Feb/74
Dec/77
Dec/79
Aug/91
Jun/77
Dec/98
Mar/11
Jul/76
Apr/76
Nov/13
Sep/77
Jul/02
Dec/79
Jun/83
Nov/88
Mar/03
Mar/11
Mar/99
Mar/03
Jan/79
Aug/79
Apr/76
Aug/76
Jul/02
Mar/99
Mar/98
Jan/99
Mar/84
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
345
345
345
345
345
345
345
345
345
345
345
345
345
345
345
345
345
345
345
345
345
345
345
Mar/68
Aug/70
Mar/68
Aug/70
Sep/02
Nov/10
Feb/99
Feb/99
Oct/13
Oct/13
Feb/03
Oct/72
Nov/01
Sep/02
Dec/05
Oct/77
Mar/97
Mar/97
Feb/70
Mar/68
Dec/69
May/68
Mar/67
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
51
Marketletter
From - To
Furnas - Poços de Caldas 1
Furnas - Poços de Caldas 2
Guarulhos - Ibiúna 1
Guarulhos - Ibiúna 2
Guarulhos - Nordeste
Guarulhos - Poços de Caldas 1
Guarulhos - Poços de Caldas 2
Ibiúna - Tijuco Preto 1
Ibiúna - Tijuco Preto 2
Itumbiara - Bandeirantes 1
Itumbiara - Bandeirantes 2
Itumbiara - Porto Colômbia
L.C.Barreto - Estreito 1
L.C.Barreto - Estreito 2
L.C.Barreto - Poços de Caldas 1
L.C.Barreto - Poços de Caldas 2
L.C.Barreto - Volta Grande
Macaé - Venda das Pedras
Marimbondo - Porto Colômbia
Mascarenhas - Estreito
Mogi - Atibaia
Mogi - Nordeste
Pimenta - Barreiro
Poços de Caldas - Atibaia
Porto Colômbia - Volta Grande
Samambaia - Brasília Sul 1
Samambaia - Brasília Sul 2
Viana - Vitória
Vitória - Padre Fialho
Subtotal 345 kV
Barro Alto - Niquelândia
Brasília Geral - Brasília Sul 1
Brasília Geral - Brasília Sul 2
Barro Alto – Águas Lindas
Águas Lindas – Brasília Sul
Brasília Sul - Pirineus
Itumbiara - Cachoeira Dourada
Itumbiara - Rio Verde 1
Itumbiara - Rio Verde 2
Manso - Nobres
Pirineus - Xavantes
Rio Verde - Barra do Peixe 1
Rio Verde - Barra do Peixe 2
Rio Verde - Cachoeira Dourada 1
Rio Verde - Rondonópolis
Serra da Mesa - Niquelândia
Subtotal 230 kV
Adrianópolis - Cepel 1
Adrianópolis - Cepel 2
Adrianópolis - Magé 1
Adrianópolis - Magé 2
Alcântara - Adrianópolis 1
Alcântara - Adrianópolis 2
Alcântara - Adrianópolis 3
Alcântara - Imbariê - Adrianópolis
Angra - Angra (Ampla)
Angra - Jacuacanga
Angra - Santa Cruz
Cachoeira Paulista - Volta Redonda 1
Cachoeira Paulista - Volta Redonda 2
Campos - Cachoeiro do Itapemirim 1
Campos - Cachoeiro do Itapemirim 2
Campos - Iriri
Campos - Rocha Leão
Couto Magalhães - Parque das Emas
Iriri - Rocha Leão
Jacarepaguá - Ari Franco
Jacarepaguá - Cosmos
Jacarepaguá - Mato Alto
Extension
(km)
Tension
(kV)
Beginning of
Operation
End of
Concession
131.0
131.0
75.0
75.0
35.0
182.0
184.0
97.0
97.0
180.0
180.0
201.0
24.0
24.0
198.0
197.0
112.0
122.0
77.0
13.0
64.5
25.0
198.0
142.5
45.0
12.5
15.0
26.0
220.5
6,144.5
87.0
13.0
13.0
102.0
30.0
107.0
44.0
208.0
202.0
66.0
40.0
240.0
240.0
175.0
257.0
105.0
1,929.0
1.5
1.5
48.0
48.0
19.5
20.0
20.0
19.5
34.0
34.0
96.0
105.0
105.0
106.0
106.0
97.0
110.0
80.5
13.0
10.0
24.0
16.0
345
345
345
345
345
345
345
345
345
345
345
345
345
345
345
345
345
345
345
345
345
345
345
345
345
345
345
345
345
Sep/63
Apr/65
Jun/90
Jul/90
Mar/64
Sep/63
Nov/66
Nov/83
Jul/84
Jul/73
Jul/77
Jun/73
Mar/69
Feb/70
Nov/69
Sep/70
Jun/73
Nov/10
Oct/75
Mar/69
Jan/13
Mar/64
Mar/67
Jan/13
Jun/73
Feb/99
Feb/99
Dec/05
Apr/13
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
230
230
230
230
230
230
230
230
230
230
230
230
230
230
230
230
Oct/99
Oct/72
Sep/07
Mar/14
Mar/14
Sep/07
Oct/73
Jan/86
Apr/92
May/98
Nov/06
Nov/87
Feb/94
Dec/86
Nov/82
Oct/99
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
138
138
138
138
138
138
138
138
138
138
138
138
138
138
138
138
138
138
138
138
138
138
Apr/81
Apr/81
Apr/73
Jan/73
Jul/76
Dec/98
Dec/98
May/75
Apr/71
Oct/77
Oct/77
Nov/86
Jun/87
Feb/73
Feb/73
Aug/73
Feb/73
Nov/13
Aug/73
Dec/67
Dec/67
Sep/73
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
52
Marketletter
Extension
(km)
From - To
Jacarepaguá – Paciência
Paciência - Palmares
Jacarepaguá - ZIN
Jacuacanga - Brisamar
Manso - Nobres
Muriqui - Angra (Ampla)
Muriqui - Brisamar
Palmares - Mato Alto
Parque das Emas - Rio Claro
Rio Verde - Cachoeira Dourada 2
Rio Verde - Rio Claro
Rocha Leão - Magé 1
Rocha Leão - Magé 2
Santa Cruz - Brisamar 1
Santa Cruz - Brisamar 2
Santa Cruz - Jacarepaguá
Santa Cruz - Palmares 1
Santa Cruz - Palmares 2
Santa Cruz - ZIN
Santa Cruz - ZIN - Ari Franco
Santa Cruz - ZIN - Cosmos
São José - Imbariê 1
São José - Imbariê 2
São José - Magé 1
São José - Magé 2
UTE Campos - Campos 1
UTE Campos - Campos 2
Subtotal 138 kV
Eletrodo de Terra - Foz do Iguaçu 1
Eletrodo de Terra - Foz do Iguaçu 2
Eletrodo de Terra - Ibiúna 1
Eletrodo de Terra - Ibiúna 2
Subtotal 25 kV
Total
23.0
5.0
33.0
44.0
70.0
36.0
20.0
13.0
87.5
174.0
87.0
108.0
108.0
20.0
13.0
38.0
14.0
14.0
5.0
31.0
17.0
18.0
18.0
46.0
46.0
1.0
1.0
2,205.0
16.0
15.0
67.0
67.0
165.0
18,758.5
Tension
(kV)
Beginning of
Operation
End of
Concession
138
138
138
138
138
138
138
138
138
138
138
138
138
138
138
138
138
138
138
138
138
138
138
138
138
138
138
Aug/14
Aug/14
Nov/72
Oct/77
Apr/98
Apr/71
Apr/71
Sep/73
Nov/13
Aug/77
Nov/13
Jan/73
Jan/73
Oct/77
Apr/71
Oct/72
Nov/72
Sep/73
Nov/72
Dec/67
Dec/67
Dec/98
Dec/98
Jun/01
Jun/01
Jul/77
Jul/87
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
25
25
25
25
Apr/85
Aug/87
Apr/85
Aug/87
Dec/42
Dec/42
Dec/42
Dec/42
8.1.2.Substation
8.1.2.1. Substation – enterprises not affected by 12,783 law
Substation
Zona Oeste
Transformation
capacity
(MVA)
Location
Beginning of
Operation
End of
Concession
900.00
Rio de Janeiro/Rio de Janeiro
03.14.2011
05.10.2042
8.1.2.2. Substation – enterprises renewed in terms of 12,783 law – O&M
Substation
Transformation
capacity
(MVA)
Adrianópolis
Angra
Araraquara
Bandeirantes
Barro Alto
Brasília Geral
Brasília Sul
Cachoeira Paulista
Campinas
3,289.96
967.07
1,433.33
149.66
300.00
2,094.20
583.30
1,970.00
Campos
1,283.33
Foz do Iguaçu
Grajaú
Guarulhos
Gurupi
Ibiúna
15,968.00
2,800.00
11,600.40
Location
Nova Iguaçu/Rio de Janeiro
Angra dos Reis/Rio de Janeiro
Araraquara/São Paulo
Aparecida de Goiânia/Goiás
Barro Alto/Goiás
Brasília/Brasília
Taguatinga/Brasília
Cachoeira Paulista/São Paulo
Campinas/São Paulo
Campos dos Goytacazes/Rio de
Janeiro
Foz do Iguaçu/Paraná
Rio de Janeiro/Rio de Janeiro
São Paulo/São Paulo
Gurupi/Tocantins
Ibiúna/São Paulo
Beginning
of
Operation
End of
Operation
Nov/70
Apr/71
Apr/76
Oct/72
Mar/82
Feb/60
Mar/73
Oct/76
Sep/72
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Feb/73
Dec/42
Dec/82
Dec/79
Sep/63
Mar/99
Apr/84
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
53
Marketletter
Transformation
capacity
(MVA)
Substation
Imbariê
Iriri
Itabera
Itutinga
Ivaiporã
Jacarepaguá
Macaé
Mogi das Cruzes
Niquelândia
Pirineus
Poços de Caldas
Resende
Rio Verde
Rocha Leão
Samambaia
São José
Simplício
Usina de São Gonçalo
Tijuco Preto
Viana
Vitória
11,006.00
1,350.00
1,166.66
1,846.66
333.33
4,250.00
2,600.00
42.50
17,.014.70
750.00
1,044.20
End of
Operation
Corumbá
Funil
Furnas
Itumbiara
Luiz C. Barreto
Mascarenhas
556.00
300.00
1,399.17
5,074.99
1,333.32
Duque de Caxias/Rio de Janeiro
Macaé/Rio de Janeiro
Itaberá/São Paulo
Itutinga/Minas Gerais
Manoel Ribas/Paraná
Rio de Janeiro/Rio de Janeiro
Macaé/Rio de Janeiro
Mogi das Cruzes/São Paulo
Niquelândia/Goiás
Anápolis/Goiás
Poços de Caldas/Minas Gerais
Resende/Rio de Janeiro
Rio Verde/Goiás
Rio das Ostras/Rio de Janeiro
Brasília/Distrito Federal
Belfort Roxo/Rio de Janeiro
Sapucaia/Rio de Janeiro
São Gonçalo/Rio de Janeiro
Mogi das Cruzes/São Paulo
Viana/Espirito Santo
Serra/Espirito Santo
Campos dos Goytacazes/Rio de
Janeiro
Caldas Novas/Goiás
Itatiaia/Rio de Janeiro
São José da Barra/Minas Gerais
Araporã/Minas Gerais
Pedregulho/São Paulo
1,820.99
Ibiraci/Minas Gerais
Dec/56
Dec/42
Marimbondo
Manso
Porto
2,393.32
312.50
Fronteira/Minas Gerais
Chapada dos Guimarães/Mato Grosso
Aug/75
Nov/00
Dec/42
Dec/42
Planura/Minas Gerais
Jul/73
Dec/42
Santa Cruz
Serra da Mesa
1,544.00
1,576.42
Rio de Janeiro/Rio de Janeiro
Minaçu/Goiás
Jun/67
Mar/98
Dec/42
Dec/42
SE da Usina Campos
SE da Usina
SE da Usina
SE da Usina
SE da Usina
SE da Usina
SE da Usina
de Moraes
SE da Usina
SE da Usina
SE da Usina
Colômbia
SE da Usina
SE da Usina
Beginning
of
Operation
Location
185.00
425.00
Oct/68
Oct/09
Sep/82
Apr/67
Oct/82
Dec/67
Nov/01
Mar/64
Oct/99
Nov/06
Sep/63
Apr/09
Dec/75
Dec/72
Mar/98
Aug/91
Aug/06
Jul/77
Sep/82
Dec/05
Nov/78
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/68
Dec/42
Mar/97
Dec/69
Sep/63
Mar/73
Mar/69
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
* Total MVA = Operation+reserve+revision
8.2. SPE
8.2.1. Transmission Line
SPE
From - To
Transirapé
Transudeste
Transleste
Enerpeixe S.A.
Centroeste de Minas
Chapecoense Geração S.A.
Chapecoense Geração S.A.
Chapecoense Geração S.A.
Retiro Baixo Energética S.A.
Serra do Facão Energia S.A.
Baguari Energia S.A.
Baguari Energia S.A.
Baguari Energia S.A.
Baguari Energia S.A.
Transenergia Renovável
Transenergia Renovável
Transenergia Renovável
Transenergia Renovável
Transenergia Renovável
Transenergia Renovável
S.A.
S.A.
S.A.
S.A.
S.A.
S.A.
Irapé – Araçuaí
Itutinga – Juiz de Fora
Montes Claros – Irapé
Peixe Angical – Peixe 2
Furnas – Pimenta II
SE Foz do Chapecó – Gurita
SE Foz do Chapecó – SE Xanxerê
UHE Foz do Chapecó – SE de Foz do
Chapecó
UHE Retiro Baixo – SE Curvelo
UHE Serra do Facão – SE Celg de
Catalão
UHE Baguari - SE Baguari
SE Baguari - Mesquita – Governador
Valadares
SE Baguari - Mesquita
SE Baguari - Gov. Valadares
Barra dos Coqueiros - Quirinópolis
Quirinópolis - UTE Quirinópolis
Quirinópolis - UTE Boavista
Chapadão - Jataí
Jataí - Mineiros
Jataí - UTE Jataí
Participation Extension
(%)
(km)
24.5
65.0
25.0 140.0
24.5 138.0
40.0
17.0
49.0
62.7
40.0
72.6
40.0
77.6
Tension
(kV)
230
345
345
500
345
230
230
Beginning of
End of
Operation Concession
May/07
Dec/34
Feb/07
Oct/34
Dec/06
Feb/34
Apr/06
Nov/36
Mar/10
Mar/35
Mar/11
Nov/36
Mar/11
Nov/36
40.0
1.0
230
Mar/11
Nov/36
49.0
45.0
138
Oct/10
Aug/41
49.5
32.0
138
Oct/10
Nov/36
15.0
0.800
230
Feb/10
Aug/41
15.0
2.5
230
Apr/10
Aug/41
15.0
15.0
49.0
49.0
49.0
49.0
49.0
49.0
69.0
26.0
52.3
34.4
16.7
131.5
61.4
51.2
230
230
230
138
138
230
138
138
Apr/10
Apr/10
Apr/11
May/11
May/11
Dec/12
Dec/12
Dec/12
Aug/41
Aug/41
Apr/39
Jun/25
Jun/25
Jun/25
Jun/25
Jun/25
54
Marketletter
SPE
From - To
Transenergia Renovável S.A.
Transenergia Renovável S.A.
Transenergia Renovável S.A.
Transenergia Renovável S.A.
Transenergia Renovável S.A.
Transenergia Renovável S.A.
Interligação Elétrica do
Madeira S.A.
Goiás Transmissão S.A.
Goiás Transmissão S.A.
Goiás Transmissão S.A.
Jataí - UTE Água Emendada
Mineiros - Morro Vermelho
Morro Vermelho - UTE Morro
Vermelho
Morro Vermelho - UTE Alto Taquari
Palmeiras - Edéia
Edéia - UTE Tropical Bionenergia I
TL Coletora Porto Velho - Araraquara
II (Lote D)
Rio Verde Norte – Trindade
Trindade – Xavantes
Trindade – Carajás
Participation Extension
(%)
(km)
49.0
32.6
49.0
45.2
Tension
(kV)
138
138
Beginning of
End of
Operation Concession
Dec/12
Jun/25
Dec/12
Jun/25
49.0
31.0
138
Dec/12
Jun/25
49.0
49.0
49.0
30.2
57.0
48.7
138
230
138
Jun/13
May/13
May/13
Jun/25
Jun/25
Jun/25
24.5
2,375
600
Aug/13
Feb/39
49.0
49.0
49.0
193
37
29
500
230
230
Dec/13
Dec/13
Oct/13
Feb/40
Feb/40
Feb/40
8.2.2. Substations
SPE
Substation
Caldas Novas Transmissão S.A.
Transenergia São Paulo S.A
Transenergia Renovável S.A
Transenergia Renovável S.A
Transenergia Renovável S.A
Transenergia Renovável S.A
Transenergia Renovável S.A
Baguari Energia S.A.
Chapecoense Geração S.A
Enerpeixe S.A.
Retiro Baixo Energética S.A.
Madeira Energia S.A.
Serra do Facão Energia S.A.
Goiás Transmissão S.A.
Transformation
Capacity
(MVA)
Participation
(%)
150
800.00
150.00
225.00
225.00
155.60
978.00
525.00
100.00
3,630.00
236.40
400.00
49.90
49.00
49.00
49.00
49.00
49.00
49.00
15.00
40.00
40.00
49.00
39.00
49.47
49.00
Corumbá
Itatiba
Edéia
Jataí
Mineiros
Morro Vermelho
Quirinópolis
SE da Usina de Baguari
SE da Usina de Foz do Chapecó
SE da Usina de Peixe Angical
SE da Usina de Retiro Baixo
SE da Usina de Santo Antônio
SE da Usina de Serra do Facão
Trindade
Beginning
of
Operation
Aug/13
Aug/12
Feb/12
Dec/12
Dec/12
Dec/12
Apr/11
Aug/06
Nov/01
Nov/01
Aug/06
Aug/07
Nov/01
Nov/13
End of
Operation
Jun/41
Nov/39
Jun/25
Jun/25
Jun/25
Jun/25
Jun/25
Aug/41
Nov/36
Nov/36
Aug/41
Jun/43
Nov/36
Jul/40
9. Transmission losses - %
1Q14
2Q14
3Q14
2.27
2.29
1.98
Note: The total of loss in the basic network is determined by the difference between the total amount generated and the total amount of consumption verified in SIN, being absorved in the portion of 50%
consumers, 50% for the participants of the loss ratio of the basic network.
55
Marketletter
10. Main investments of parent company– R$ Million
Project
1Q14
Generation
Installation of Combined Cycle TPU Santa Cruz (RJ)/Capacity
expansion of Sta. Cruz Thermal Unit (RJ)
Installation of HPU Batalha (Paulista) (MG/GO)
Installation of HPU Simplício and SHU Anta (RJ)
Modernization of HPU Furnas (MG)
Modernization of HPU Luiz Carlos Barreto (MG)
Maintenance of the generation system
Extension of generation system
Deployment of wind farms
Implementation of UTE biomass
Extension of generation capacity
Transmission
Transmission System Bom Despacho – Ouro Preto
Installation of Transmission Line Macaé (RJ) - Campos (RJ)
Installation of Transmission Line Tijuco Preto-Itapeti-Nordeste
Installation of Transmission System Mascarenhas - Linhares
Reinforcement of Transmission System
Transmission System maintenance
Extension of transmission in the Mid-Western Region / Extension of
transmission system
Others
Maintenance of real estate
Maintenance of real estate, vehicles, turbines and equipment
Maintenance of info technology assets
Environmental preservation and conservation of generation and
transmission
Total
First revision
2014
2Q14
3Q14
143,573
3,697,734
6,862,629
9,987,075
2,673,421
-
54,772
4,211,695
1,744,736
9,527,466
4,454,633
-
11,526,993
7,877,880
4,441,732
6,915,232
5,221,232
-
75,000,000
29,706,852
43,028,206
56,816,722
59,175,224
100,000
28,840,836
100,000
100,000
3,515,448
5,592,902
2,027,209
14,775,114
37,512,106
8,858,875
6,690,040
703,035
43,365,735
64,240,115
4,657,808
4,974,090
4,524,979
61,458,636
76,629,343
21,717,886
21,468,376
30,294,939
320,769,676
434,997,984
6,316,239
6,483,664
6,241,398
45,058,633
322,506
3,234,740
2,424,953
698,343
10,798,654
6,039,006
1,114,073
5,264,260
4,921,490
12,010,235
52,139,871
40,074,923
1,259,178
100,344,826
2,219,518
170,090,288
3,900,272
209,669,416
24,995,028
1,296,395,391
11.New investments
11.1.Generation
11.1.1.Own assets
Unit
Own assets
UHE Simplício/
PCH Anta
Location
(State)
RJ/MG
Total of
Investment
Investment up to 3Q14
(R$
(R$
million)
million)
2.289,51
Basis: Dec/08
Installed
capacity
(MW)
Guaranteed Beginning
Beginning of
End of
Energy
of
Construction Concession
(MW)
Operation
UHE
Simplício:
came into
commercial
Operation
on
jun/2013
2,472
333.7
191.3
Mar/07
Aug/41
PCH Anta:
Forecasted
Machine 1
Jan/2015
and
machine 2
Jun/2015
56
Marketletter
11.1.2. SPE
SPE
Unit
Cia. Hidrelétrica Teles Pires
Madeira Energia S.A.
Consórcio Terra Nova S.A.
Central Geradora Eólica Famosa I S.A.
Central Geradora Eólica Pau Brasil S.A.
Central Geradora Eólica Rosada S.A.
Central Geradora Eólica São Paulo S.A.
Energia dos Ventos I
Energia dos Ventos II
Energia dos Ventos III
Energia dos Ventos IV
Energia dos Ventos V
Energia dos Ventos VI
Energia dos Ventos VII
Energia dos Ventos VIII
Energia dos Ventos IX
Energia dos Ventos X
Consórcio Bom Jesus
Consórcio Cachoeira
Consórcio Pitimbu
Consórcio São Caetano
Consórcio São Caetano I
Consórcio São Galvão
Consórcio Carnaúba I
Consórcio Carnaúba II
Consórcio Carnaúba III
Consórcio Carnaúba V
Consórcio Cervantes I
Consórcio Cervantes II
Consórcio Punaú I
Consórcio Arara Azul
Consórcio Bentevi
Consórcio Ouro Verde I
Consórcio Ouro Verde II
Consórcio Ouro Verde III
Consórcio Santa Rosa
Consórcio Uirapuru
Consórcio Ventos do Angelim
Consórcio Serra do Mel
Consórcio Serra do Mel
Consórcio Serra do Mel
Consórcio Casa dos Ventos I
Consórcio Casa dos Ventos I
Consórcio Casa dos Ventos I
Consórcio Casa dos Ventos I
Consórcio Casa dos Ventos I
Consórcio Casa dos Ventos I
Consórcio
Consórcio
Consórcio
Consórcio
Casa
Casa
Casa
Casa
dos
dos
dos
dos
Ventos
Ventos
Ventos
Ventos
I
I
I
I
UHE Teles Pires
UHE Santo Antônio
UHE São Manoel
Famosa I
Pau Brasil
Rosada
São Paulo
Goiabeira
Ubatuba
Santa Catarina
Pitombeira
São Januário
Nossa Senhora de
Fátima
Jandaia
São Clemente
Jandaia I
Horizonte
Bom Jesus
Cachoeira
Pitimbu
São Caetano
São Caetano I
São Galvão
Carnaúba I
Carnaúba II
Carnaúba III
Carnaúba V
Cervantes I
Cervantes II
Punaú I
Arara Azul
Bentevi
Ouro Verde I
Ouro Verde II
Ouro Verde III
Santa Rosa
Uirapuru
Ventos de Angelim
Serra do Mel I
Serra do Mel II
Serra do Mel III
Itaguaçu da Bahia
Ventos de Santa Luiza
Ventos de Santa
Madalena
Ventos de Santa
Marcella
Ventos de Santa Vera
Ventos de Santo
Antônio
Ventos de São Bento
Ventos de São Cirilo
Ventos de São João
Ventos de São Rafael
MT
MT
MT/PA
RN
RN
CE
RN
CE
CE
CE
CE
CE
Installed
Capacity
(MW)
1,820.0
3,568.8
700.0
22.5
15.0
30.0
17.5
19.2
12.6
16.0
27.0
19.2
CE
28.8
12.8
Jan/16
Nov/14
Jun /47
CE
CE
CE
CE
CE
CE
CE
CE
CE
CE
RN
RN
RN
RN
RN
RN
RN
RN
RN
RN
RN
RN
CE
CE
CE
RN
RN
RN
BA
BA
28.8
19.2
19.2
14.4
18.0
12.0
18.0
25.2
18.0
22.0
22.0
18.0
16.0
24.0
16.0
12.0
24.0
28.0
14.0
26.0
28.0
24.0
20.0
28.0
22.0
28.0
28.0
28.0
28.0
28.0
28.0
14.1
9.3
9.9
7.3
8.1
5.0
7.2
11.0
7.7
9.5
9.4
7.3
7.5
10.1
7.1
5.6
11.0
10.7
5.7
10.7
11.2
9.4
8.4
12.6
10.3
13.0
12.8
12.5
14.0
14.2
Jan/16
Jan/16
Jan/16
Jan/16
Sep/15
Sep/15
Sep/15
Sep/15
Sep/15
Sep/15
Sep/15
Sep/15
Sep/15
Sep/15
Sep/15
Sep/15
Sep/15
May/18
May/18
May/18
May/18
May/18
May/18
May/18
May/18
May/18
May/18
May/18
May/18
May/18
Apr/15
May/15
Dec/14
Apr/14
Oct/14
Oct/14
Oct/14
Oct/14
Oct/14
Oct/14
Oct/14
Oct/14
Oct/14
Oct/14
Oct/14
Oct/14
Oct/14
Dec/16
Dec/16
Dec/16
Dec/16
Dec/16
Dec/16
Oct/16
Dec/16
Jun/17
Jun/17
Jun/17
Mar/17
Mar/17
Aug/47
Aug/47
Jul /47
Jul /47
May/49*
May/49*
May/49*
May/49*
May/49*
May/49*
May/49*
May/49*
May/49*
May/49*
May/49*
May/49*
May/49*
Aug/49*
Aug/49*
Aug/49*
Aug/49*
Aug/49*
Aug/49*
Aug/49*
Aug/49*
Aug/49*
Aug/49*
Aug/49*
Aug/49*
Aug/49*
14.7
May/18
Mar/17
Aug/49*
13.6
May/18
Mar/17
Aug/49*
28.0
28.0
15.2
May/18
Mar/17
Aug/49*
16.1
May/18
Mar/17
Aug/49*
28.0
28.0
28.0
28.0
14.4
14.7
15.0
13.8
May/18
May/18
May/18
May/18
Mar/17
Mar/17
Mar/17
Mar/17
Aug/49*
Aug/49*
Aug/49*
Aug/49*
Location
BA
BA
BA
BA
BA
BA
BA
BA
28.0
Energy Beginning
Beginning of
Assured
of
Construction
(MW) Operation
915.4
Jan/15
Aug/11
2,342.03 Mar/12
Aug/08
421.7
May/18
Aug/14
11.1
Jul/15
Jul/14
7.7
Jul/15
Jul/14
13.4
Jul/15
Jul/14
8.1
jul/15
Jul/14
9.9
Jan/16
Jul/14
5.8
Jan/16
Mar/14
8.5
Jan/16
Mar/14
13.9
Jan/16
Mar/14
9.0
Jan/16
Jul/15
End of
Concession
Jun/46
Dec/43
Apr/49
Dec /45
May/47
Mar/47
Sep/48
Mar/47
Jun /47
Jun /47
Jun /47
Jun /47
57
Marketletter
11.10.2.1 SPE
SPE
Unit
Cia. Hidrelétrica Teles
Pires
UHE Teles Pires
Madeira Energia S.A.
UHE Santo
Antônio
Empresa de Energia São
UHE São Manoel
Manoel S.A.
Investiment
(R$ million)
Total
Up to 3Q14
Working
Schedule
(%)
Participation
(%)
4,452.76
3,882.00
92.07
24.5
20,066.00
16,615.00
92.55
39.0
2,474.0
n/a
n/a
33.333
Central Geradora
Eólica Famosa I S.A.
Famosa I
80.0
3.81
2.5
49.0
Central Geradora
Eólica
Pau Brasil S.A.
Pau Brasil
52.0
2.54
2.5
49.0
Central Geradora
Eólica
Rosada S.A.
Rosada
105.0
4.76
2.5
49.0
Central Geradora
Eólica
São Paulo S.A.
São Paulo
75.0
2.86
2.5
49.0
Energia dos Ventos I
Goiabeira
62.0
0.33
12.0
49.0
Energia dos Ventos II
Ubatuba
41.0
0.25
12.0
49.0
Energia dos Ventos III
Santa Catarina
66.0
0.31
12.0
49.0
Energia dos Ventos IV
Pitombeira
100.0
0.40
12.0
49.0
Energia dos Ventos V
São Januário
75.0
0.31
12.0
49.0
Energia dos Ventos VI
Nossa Senhora
de Fátima
100.0
0.36
12.0
49.0
Energia dos Ventos VII
Jandaia
100.0
0.39
12.0
49.0
São Clemente
75.0
0.29
12.0
49.0
Energia dos Ventos IX
Jandaia I
75.0
0.32
12.0
49.0
Consórcio Bom Jesus
Bom Jesus
79.0
14.6
18
49.00
Consórcio Cachoeira
Cachoeira
53.0
9.7
18
49.00
Consórcio Pitimbu
Pitimbu
79.0
14.6
18
49.00
Consórcio São Caetano
São Caetano
111.0
21.1
19
49.00
Consórcio São Caetano I
São Caetano I
79.0
14.6
18
49.00
Consórcio São Galvão
São Galvão
97.0
19.4
20
49.00
Consórcio Carnaúba I
Carnaúba I
91.0
17.1
18
49.00
Energia dos Ventos
VIII
Partners
Eletrosul (24.5%)
Neoenergia (50.10%)
Odebrecht Part. Invest. (0.9%)
Odebrecth Energia (18.6%)
Cemig (10.0%)
Andrade Gutierrez (12.4%)
Fundo de Invest. e Participações Amazônia
Energia (20.0%)
EDP – Energias do Brasil S.A. (66.667%)
Empresa Brasileira de Desenvolvimento e
Participações S.A. (35.70%)
Comercial Mineira S.A (15.25%)
Ventos Tecnologia Elétrica S.A. (0.05%)
Empresa Brasileira de Desenvolvimento e
Participações S.A. (35.70%)
Comercial Mineira S.A (15.25%)
Ventos Tecnologia Elétrica S.A. (0.05%)
Empresa Brasileira de Desenvolvimento e
Participações S.A. (35.70%)
Comercial Mineira S.A (15.25%)
Ventos Tecnologia Elétrica S.A. (0.05%)
Empresa Brasileira de Desenvolvimento e
Participações S.A. (35.70%)
Comercial Mineira S.A (15.25%)
Ventos Tecnologia Elétrica S.A. (0.05%)
Alupar (50.99%)
Central Eólica Goiabeira (0.01%)
Alupar (50.99%)
Central Eólica Ubatuba (0.01%)
Alupar (50.99%)
Central Eólica Santa Catarina (0.01%)
Alupar (50.99%)
Central Eólica Pitombeira (0.01%)
Alupar (50.99%)
Central Eólica São Januário (0.01%)
Alupar (50.99%)
Central Eólica Nossa Senhora de Fátima
(0.01%)
Alupar (50.99%)
Central Eólica Jandaia (0.01%)
Alupar (49%)
Central Eólica São Clemente (0.01%)
Alupar (50.99%)
Central Eólica Jandaia I (0.01%)
Fundo de Investimento em Participações
Caixa Milão (50.99%)
Central Eólica Bom Jesus Ltda. (0.01%)
Fundo de Investimento em Participações
Caixa Milão (50.99%)
Central Eólica Cachoeira Ltda. (0.01%)
Fundo de Investimento em Participações
Caixa Milão (50.99%)
Central Eólica Pitimbu Ltda. (0.01%)
Fundo de Investimento em Participações
Caixa Milão (50.99%)
Central Eólica São Caetano Ltda. (0.01%)
Fundo de Investimento em Participações
Caixa Milão (50.99%)
Central Eólica São Caetano I Ltda. (0.01%)
Fundo de Investimento em Participações
Caixa Milão (50.99%)
Central Eólica São Galvão Ltda. (0.01%)
Fundo de Investimento em Participações
Caixa Milão (50.99%)
58
Marketletter
SPE
Unit
Investiment
(R$ million)
Total
Up to 3Q14
Working
Schedule
(%)
Participation
(%)
Consórcio Carnaúba II
Carnaúba II
75.0
14.0
18
49.00
Consórcio Carnaúba III
Carnaúba III
67.0
12.5
18
49.00
Consórcio Carnaúba V
Carnaúba V
100.0
18.7
18
49.00
Consórcio Cervantes I
Cervantes I
67.0
12.5
18
49.00
Consórcio Cervantes II
Cervantes II
50.0
9.3
18
49.00
Consórcio Punaú I
Punaú I
100.0
18.7
18
49.00
Consórcio Arara Azul
Arara Azul
98.0
0
0
90.00
Consórcio Bentevi
Bentevi
55.0
0
0
90.00
Consórcio Ouro Verde I
Ouro Verde I
98.0
0
0
90.00
Consórcio Ouro Verde II
Ouro Verde II
106.0
0
0
90.00
Consórcio Ouro Verde III Ouro Verde III
89.0
0
0
90.00
79.0
0
0
90.00
107.0
0
0
90.00
91.0
0
0
90.00
Consórcio Santa Rosa
Santa Rosa
Consórcio Uirapuru
Uirapuru
Consórcio Ventos do
Angelim
Ventos de
Angelim
Consórcio Serra do Mel
Serra do Mel I
135.29
0
0
90.00
Consórcio Serra do Mel
Serra do Mel II
135.29
0
0
90.00
Consórcio Serra do Mel
Serra do Mel III
135.29
0
0
90.00
Consórcio Casa dos
Ventos I
Itaguaçu da
Bahia
127.2
2.3
1.8
49.00
Consórcio Casa dos
Ventos I
Ventos de Santa
Luiza
127.2
2.3
1.8
49.00
Consórcio Casa dos
Ventos I
Ventos de Santa
Madalena
127.2
2.3
1.8
49.00
Partners
Central Geradora Eólica Carnaúba I Ltda.
(0.01%)
Fundo de Investimento em Participações
Caixa Milão (50.99%)
Central Geradora Eólica Carnaúba II Ltda.
(0.01%)
Fundo de Investimento em Participações
Caixa Milão (50.99%)
Central Geradora Eólica Carnaúba III Ltda.
(0.01%)
Fundo de Investimento em Participações
Caixa Milão (50.99%)
Central Geradora Eólica Carnaúba V Ltda.
(0.01%)
Fundo de Investimento em Participações
Caixa Milão (50.99%)
Central Geradora Eólica Cervantes I Ltda.
(0.01%)
Fundo de Investimento em Participações
Caixa Milão (50.99%)
Central Geradora Eólica Cervantes II Ltda.
(0.01%)
Fundo de Investimento em Participações
Caixa Milão (50.99%)
Central Geradora Eólica Punaú I Ltda.
(0.01%)
Eólica Tecnologia LTDA (7.0%)
Ventos Tecnologia Elétrica LTDA (2.99%)
Central Eólica Arara Azul Ltda (0.01%)
Eólica Tecnologia LTDA (7.0%)
Ventos Tecnologia Elétrica LTDA (2.99%)
Central Eólica Bentevi Ltda (0.01%)
Eólica Tecnologia LTDA (7.0%)
Ventos Tecnologia Elétrica LTDA (2.99%)
Central Eólica Ouro Verde I Ltda (0.01%)
Eólica Tecnologia LTDA (7.0%)
Ventos Tecnologia Elétrica LTDA (2.99%)
Central Eólica Ouro Verde II Ltda (0.01%)
Eólica Tecnologia LTDA (7.0%)
Ventos Tecnologia Elétrica LTDA (2.99%)
Central Eólica Ouro Verde III Ltda (0.01%)
Eólica Tecnologia LTDA (7.0%)
Ventos Tecnologia Elétrica LTDA (2.99%)
Central Eólica Santa Rosa Ltda (0.01%)
Eólica Tecnologia LTDA (7.0%)
Ventos Tecnologia Elétrica LTDA (2.99%)
Central Eólica Uirapuru Ltda (0.01%)
Eólica Tecnologia LTDA (7.0%)
Ventos Tecnologia Elétrica LTDA (2.99%)
Centrais Eólicas (0.01%)
Eólica Tecnologia LTDA (9.99%)
Gestamp Eólica Brasil LTDA (0.01%)
Eólica Tecnologia LTDA (9.99%)
Gestamp Eólica Brasil LTDA (0.01%)
Eólica Tecnologia LTDA (9.99%)
Gestamp Eólica Brasil LTDA (0.01%)
Salus Fundo de Investimento em
Participações (49.0%)
Casa dos Ventos Energias Renováveis S.A.
(2.0%)
Salus Fundo de Investimento em
Participações (49.0%)
Casa dos Ventos Energias Renováveis S.A.
(2.0%)
Salus Fundo de Investimento em
Participações (49.0%)
Casa dos Ventos Energias Renováveis S.A.
59
Marketletter
SPE
Investiment
(R$ million)
Total
Up to 3Q14
Unit
Working
Schedule
(%)
Participation
(%)
Consórcio Casa dos
Ventos I
Ventos de Santa
Marcella
127.2
2.3
1.8
49.00
Consórcio Casa dos
Ventos I
Ventos de Santa
Vera
127.2
2.3
1.8
49.00
Consórcio Casa dos
Ventos I
Ventos de Santo
Antônio
127.2
2.3
1.8
49.00
Consórcio Casa dos
Ventos I
Ventos de São
Bento
127.2
2.3
1.8
49.00
Consórcio Casa dos
Ventos I
Ventos de São
Cirilo
127.2
2.3
1.8
49.00
Consórcio Casa dos
Ventos I
Ventos de São
João
127.2
2.3
1.8
49.00
Consórcio Casa dos
Ventos I
Ventos de São
Rafael
127.2
2.3
1.8
49.00
Partners
(2.0%)
Salus Fundo de Investimento em
Participações (49.0%)
Casa dos Ventos Energias Renováveis
(2.0%)
Salus Fundo de Investimento em
Participações (49.0%)
Casa dos Ventos Energias Renováveis
(2.0%)
Salus Fundo de Investimento em
Participações (49.0%)
Casa dos Ventos Energias Renováveis
(2.0%)
Salus Fundo de Investimento em
Participações (49.0%)
Casa dos Ventos Energias Renováveis
(2.0%)
Salus Fundo de Investimento em
Participações (49.0%)
Casa dos Ventos Energias Renováveis
(2.0%)
Salus Fundo de Investimento em
Participações (49.0%)
Casa dos Ventos Energias Renováveis
(2.0%)
Salus Fundo de Investimento em
Participações (49.0%)
Casa dos Ventos Energias Renováveis
(2.0%)
S.A.
S.A.
S.A.
S.A.
S.A.
S.A.
S.A.
11.2.Transmission
11.2.1.Own assets
11.2.1.1.Transmission lines
Own lines
From – to
TL Itapeti –
Nordeste
TL Bom
Despacho 3 –
Ouro Preto 2 *
TL Mascarenhas
– Linhares and
SE Linhares **
TL Xavantes –
Pirineus
Total of
Investment
(R$ million)
Investment
up to 3Q14
(R$ million)
Extension
of lines
(km)
Tension
(kV)
Beginning of
Operation
End of
Concession
166.00
Basis: Oct/05
226.01
29
345
Dec/14
Apr/36
120.1
Basis: Dec/08
146.11
180
500
**
Jan/39
67.20
Basis: Nov/09
32.41
99
230
Jul/15
Jul/40
31.18
Basis: Sep/11
17.24
50
230
Nov/15
Dec/41
*Considers, in addition to the TL 500 kV Bom Despacho 3-Ouro Preto, the SE Bom Despacho 3 (Cemig) – C and Ouro Preto 2 (Cemig)-3A.
** It is ready to come into commercial Operation, just waiting for the Operation license
***Includes, in addition to the TL 230 kV Mascarenhas-Linhares, the SE Mascarenhas (Escelsa) and Linhares (Escelsa).
60
Marketletter
11.2.1.2.Substations
Total of
Investment
(R$ million)*
SE
SE Zona Oeste 500/
138 kV (Auction
002/12, Part E)
43.38
Basis: Mar/12
Investment
up to 3Q14
(R$ million)**
Transformation
capacity
Location
(State)
Beginning of
Operation
End of
Concession
35.49
Installation of
500/138 kV –
(3+1R) x 300 MVA
transformer plus
respective
connections to
transformers
RJ
Oct/14
May/42
11.2.2. SPE
11.2.2.1. Transmission Lines
SPE
Transenergia
Goiás S.A.
MGE
Transmissão
S.A.
Triângulo
Mineiro
Transmissora
S.A.
Paranaíba
Transmissora de
Energia S.A.
From – To
Serra da Mesa Niquelândia
Niquelândia - Barro Alto
Mesquita - Viana 2
Viana 2 - Viana
Participation
(%)
Investment*
(R$ Million)
Up to 3Q14
(R$ million)
49
130,00
6,89
49
375,69
364,42
Marimbondo II - Assis
49
324,84
46,1
Barreiras II - Rio das
Éguas
Rio das Éguas - Luziânia
Luziânia - Pirapora II
24.5
917,58
125,0
49.9
32,63
1,35
Lago Azul
Transmissora
Barro Alto - Itapaci
S.A.
Mata de Santa
Itatiba - Bateias
Genebra
Araraquara II - Itatiba
Transmissora
Araraquara II - Fernão
S.A.
Dias
Vale do São
Luziânia - Brasília Leste
Bartolomeu
Samambaia - Brasília Sul
Transmissora de
Brasília Sul - Brasília Geral
Energia S.A.
Belo Monte
Transmissora de
Xingu – Estreito
Energia S.A.
Extensio
n of TL
(km)
Tension
(kV)
100
230
88
248
230
500
10
345
296.5
Beginning
Endo of
of
Concession
Operation
Dec/15
Nov/39
Aug/15
Jun/14
Jul/40
500
Dec/15
Aug/43
500
May/16
May/43
230
Sep/16
Feb/44
500
Sep/17
Feb/44
Jul/16
Oct/43
Feb/18
Jun/44
244
49.9
1,843.8
34,20
373
350
69
399
207
241
39.0
24.5
269,65
(Basis:
Jul/2013)
15,32
2,237.55
-
67
14
500
345
13.5
230
2,100
800
* Based on the business plan of the enterprise.
61
Marketletter
11.2.2.2. Subestações
SPE
Luziânia Niquelândia
Transmissora S.A.
Substation
Participation Investiment Transformation
(%)
(R$ million) Capacity (MVA)
SE Luziânia e SE
Niquelândia
SE Santa Bárbara D’Oeste
440 kV, Compensador
Estático (-300,+300) Mvar
Mata de Santa
SE Itatiba 500 kV,
Genebra
Compensador Estático
Transmissora S.A.
(-300,+300) Mvar
SE 500/440 kV Fernão Dias
(9+1R)
Vale do São Bartolomeu
Transmissora de
SE Brasília Leste
Energia S.A.
Estação Conversora
CA/CC,±800 kV, 4.000
Belo Monte
MW, junto a SE 500 kV
Transmissora de
Xingu
Energia S.A.
Estação Conversora CA/CC,
±800 kV, 3.850 MW, junto
a SE 500 kV Estreito
Location
Beginning
of
Operation
Endo f
Concession
49.0
39.3
255
Luziânia (GO) /
Niquelândia
(GO)
Aug/15
May/42
49.9
1,843.8
4,000
SP
Feb/18
Feb/44
39.0
269.65
180
DF
Jul/16
Oct/43
3,400
Xingu(PA)
24.5
2,162.00
Feb/08
Jun/44
3,300
Estreito(MG)
12. Loans and financing – R$ Million
Local currency - LC
Creditor
Eletrobras
Eletrobras
Eletrobras
Eletrobras
Eletrobras
Eletrobras
Eletrobras
Eletrobras
Eletrobras
Eletrobras
Eletrobras
Eletrobras
Eletrobras
Eletrobras - Eletronet
BNDES
BNDES
Balance
03.31.14
Balance
06.30.14
Balance
09.30.14
32
63
7
255
1
355
216
678
3
594
610
264
2
144
818
193
31
60
6
254
0
358
218
684
2
590
606
263
2
144
802
189
29
57
5
249
0
357
217
680
2
577
594
258
2
144
785
185
BNDES
46
45
44
FINEP
FINEP
68
95
68
95
68
95
Due Date
Index
03/30/2018
12/30/2018
12/30/2015
03/30/2023
10/30/2014
06/30/2030
12/30/2030
11/30/2029
03/30/2017
12/30/2021
07/30/2022
12/30/2022
03/30/2020
08/30/2020
07/15/2026
12/15/2025
07/15/2026
and 05/15/2018
11/15/2023
11/15/2023
9.5% py
7% py
7% py
IPCA + 7% py
6.5% py
IPCA + 7 % py
IPCA + 7 % py
IPCA + 7% py
6.5% py
IPCA + 7% py
IPCA + 7% py
IPCA + 7% py
6.5% py
Selic
TJLP + 1.91% py
TJLP + 3% py
TJLP + 2.18% py and
TJLP + 6% py
3.5% py
TJLP – 1.5% py
8.7% py and
TJLP + 4% py
111% CDI
111% CDI
111% CDI
111% CDI
113.7% CDI
110% CDI
107.3% CDI
115% CDI
102.89% CDI
Caixa Econômica Federal
10
9
9
01/17/2022
Caixa Econômica Federal
Caixa Econômica Federal
Caixa Econômica Federal
Caixa Econômica Federal
Caixa Econômica Federal
Banco do Brasil S.A.
Banco do Brasil S.A.
Banco do Brasil S.A.
Basa
Total
217
428
91
119
1,040
211
775
405
203
7,943
223
440
89
116
1,014
217
756
416
209
7,906
217
408
91
120
1,046
212
778
412
204
7,845
07/27/2020
08/03/2020
10/15/2020
10/26/2020
05/16/2023
02/07/2018
10/31/2018
12/06/2023
07/31/2017
62
Marketletter
Foreign currency - FC
Creditor
Balance
03.31.14
Eletrobras
Eletrobras
BID
Total
Balance
06.30.14
38
153
234
425
Balance
09.30.14
32
133
250
415
36
138
279
453
Due Date
Currency
04/06/2018
04/06/2018
12/15/2031
US$
Yen
US$
13.Contracts
13.1.Loans and financing
13.1.1.Parent company – R$ million
Loans and financing
By activity
Generation
Transmission
By creditor
Eletrobras
Others
Total
2014
2015
2016
2017
2018
After
2018
Total
(LC + FC)
417
88
85
32
397
82
850
83
1,783
63
4,277
141
7,809
489
299
206
505
86
31
117
320
159
479
352
581
933
340
1,506
1,846
1,948
2,470
4,418
3,345
4,953
8,298
13.1.2. SPE (R$)
Foz do Chapecó
Loans and financing
By activity
Generation
Transmission
By creditor
BNDES
REPASSADORES
SINCRONO
Total
2014
2015
2016
2017
2018
After 2018
666,127,012.47
-
611,875,629.55
-
559,801,107.89
-
-
-
-
440,046,744.47
222,736,149.67
3,344,118.33
666,127,012.47
404,233,663.09
204,569,882.71
3,072,083.75
611,875,629.55
369,830,798.15
187,159,679.93
2,810,629.81
559,801,107.89
-
-
-
Santo Antônio
Loans and financing
By activity
Generation
Transmission
By creditor
BNDES Direto
BNDES Repasse
Banco da Amazônia - FNO
2nd bonds emission
3rd bonds emission
Total
2014
4,319,996,670.34
-
2015
4,483,723,916.15
-
2016
2017
2018 After 2018
4,426,515,626.67
-
-
-
-
1,913,105,187.01
1,988,973,962.06
1,958,973,862.47
1,977,757,919.67
2,054,939,679.59
2,025,815,332.47
244,057,489.55
243,841,300.69
234,470,943.78
185,076,074.10
195,968,973.81
207,255,487.95
285,695,456.60
302,510,443.21
319,933,679.64
4,319,996,670.34 4,483,723,916.15 4,426,515,626.67
-
-
-
Teles Pires
Loans and financing
By activity
Generation
Transmission
By creditor
FI-FGTS
Total
2014
2015
2016
2017
2018 After 2018
173,037,033.60
-
162,540,427.20
-
152,043,820.80
-
-
-
-
173,037,033.60
173,037,033.60
162,540,427.20
162,540,427.20
152,043,820.80
152,043,820.80
-
-
-
63
Marketletter
Centro Oeste de Minas
Loans and financing
By activity
Generation
Transmission
By creditor
BNDES
Total
2014
2015
2016
2017
2018
After
2018
9,889,962.50
8,737,733.90
7,585,505.30
-
-
-
9,889,962.50
9,889,962.50
8,737,733.90
8,737,733.90
7,585,505.30
7,585,505.30
-
-
-
Serra do Facão
Loans and financing
By activity
Generation
Transmission
By creditor
BNDES
Total
2014
2015
2016
2017
2018
After
2018
237,058,447.79
-
218,157,748.57
-
199,257,049.34
-
-
-
-
-
237,058,447.79
237,058,447.79
218,157,748.57
218,157,748.57
199,257,049.34
199,257,049.34
-
-
-
-
2014
2015
2016
595,383,713.40
575,988,516.42
550,940,961.44
-
-
-
-
72,310,482.46
421,601,968.04
101,471,262.90
595,383,713.40
75,897,475.29
389,969,809.70
110,121,231.43
575,988,516.42
77,192,570.55
358,337,651.35
115,410,739.54
550,940,961.44
-
-
-
-
Total
Interligação Elétrica do Madeira
Loans and financing
By activity
Generation
Transmission
By creditor
Banco da Amazônia
BNDES
Bonds
Total
2017 2018
After
2018
Total
Goiás Transmissão
Loans and financing
By activity
Generation
Transmission
By creditor
Brasil – FCO
BNDES
Total
After
2018
2014
2015
2016
2017
2018
Total
95,587,666.13
91,915,959.64
88,244,253.15
-
-
-
-
49,385,359.38
46,202,306.75
95,587,666.13
49,385,359.38
42,530,600.26
91,915,959.64
49,385,359.38
38,858,893.77
88,244,253.15
-
-
-
-
After
2018
MGE Transmissão
Loans and financing
By activity
Generation
Transmission
By creditor
BNDES
Total
2014
2015
2016
2017
2018
Total
51,227,180.74
46,987,689.92
42,748,199.10
-
-
-
-
51,227,180.74
51,227,180.74
46,987,689.92
46,987,689.92
42,748,199.10
42,748,199.10
-
-
-
-
64
Marketletter
Transenergia São Paulo
Loans and financing
By activity
Generation
Transmission
By creditor
BNDES LP
Total
After
2018
2014
2015
2016
2017
2018
Total
16,630,150.68
15,204,709.20
13,779,267.71
-
-
-
-
16,630,150.68
16,630,150.68
15,204,709.20
15,204,709.20
13,779,267.71
13,779,267.71
-
-
-
-
Transenergia Renovável
Loans and financing
By activity
Generation
Transmission
By creditor
BNDES LP
Total
2014
2015
2016
2017
2018
After
2018
68,144,455.86
62,421,738.15
56,699,020.14
-
-
-
-
68,144,455.86
68,144,455.86
62,421,738.15
62,421,738.15
56,699,020.14
56,699,020.14
-
-
-
-
Total
Brasventos Eolo Geradora de Energia
Loans and financing
By activity
Generation
Transmission
By creditor
BNDES LP
Total
2017 2018
After
2018
2014
2015
2016
Total
30,269,536.83
-
28,229,370.05
-
26,188,386.59
-
-
-
-
-
30,269,536.83
30,269,536.83
28,229,370.05
28,229,370.05
26,188,386.59
26,188,386.59
-
-
-
-
Brasventos Miassaba 3 Geradora de Energia
Loans and financing
By activity
Generation
Transmission
By creditor
BNDES LP
Total
After
2018
2014
2015
2016 2017 2018
Total
30,476,096.32
-
28,422,007.43
-
26,367,096.29
-
-
-
-
-
30,476,096.32
30,476,096.32
28,422,007.43
28,422,007.43
26,367,096.29
26,367,096.29
-
-
-
-
2018
After
2018
Rei dos Ventos 3 Geradora de Energia
Loans and financing
By activity
Generation
Transmission
By creditor
BNDES LP
Total
2014
2015
2016 2017
Total
31,901,033.96
-
29,750,904.27
-
27,599,913.89
-
-
-
-
-
31,901,033.96
31,901,033.96
29,750,904.27
29,750,904.27
27,599,913.89
27,599,913.89
-
-
-
-
65
Marketletter
14.Number of employees
14.1.By tenure
Composition of employees by
tenure (Years)
1Q14
2Q14
3Q14
Up to 5
6 to 10
11 to15
16 to 20
21 to 25
Up to 25
Total
745
1,307
334
255
225
658
3,524
672
1,387
323
265
223
660
3,530
658
1,395
318
269
222
663
3,525
14.2.By departments
Departmants
Number of employees
2Q14
1Q14
Administrative
Operational
Total
1,031
2,493
3,524
3Q14
1,031
2,499
3,530
1,027
2,498
3,525
14.3.By region
State
Number of employees
2Q14
1Q14
Distrito Federal
Espírito Santo
Goiás
Minas Gerais
Mato Grosso
Paraná
Rio de Janeiro
Rondônia
São Paulo
Tocantins
Total
165
56
251
550
14
158
1,876
05
442
07
3,524
3Q14
166
56
253
551
14
158
1,877
04
444
07
3,530
167
57
254
550
14
158
1,875
03
440
07
3,525
15.Complementary work force
Operational
1Q14
2Q14
3Q14
1,336
1,335
1,332
16.Turn-over - %
1Q14
2Q14
3Q14
0.27
0.31
0.32
66
Marketletter
Balance Sheet
(R$ thousand)
Financial Statements for Consolidation Purposes
Assets
Current Assets
Availabilities
Clients (Consumers and resellers)
Loans and financing - principal
Marketable Securities
Dividends to receive (Remuneration of equity participation)
Fiscal Assets deferred (Taxes and contributions)
Income Tax and Social Contribution
Linked deposits
Stored materials
Financial Asset
Receivables - 12,783/13 Law
Others
Current Assets Total
7
Non-Current Assets
Clients (Consumers and resellers)
Loans and financing - principal
Marketable Securities
Fiscal Assets deferred (Taxes and contributions)
Income Tax and Social Contribution
Reimbursement Rights - CCC (12,111 Law)
Linked deposits
Financial Asset – Annual allowed revenue (transmission)
Receivables - 12,783/13 Law
Others
Advances for equity participation
INVESTMENTS
FIXED ASSETS
INTANGIBLE
Non-Current Assets Total
Assets Total
09.30.14
09.30.13
913,967
317,846
3,375
1,067,225
9,611
48,130
56,779
10,982
97,912
78,136
1,343,642
370,948
4,318,553
481,417
312,351
3,426
2,693,691
9,305
88,146
10,982
88,672
77,431
1,254,584
268,025
5,288,030
9,761
4,817
3,675
162,173
2,039,412
606,044
3,182,648
164,585
156,184
572,507
6,901,806
3,807,953
1,630,738
34,849
12,375,346
16,693,899
16,287
8,172
3,558
1,986,025
645,225
3,517,421
1,280,976
26,184
250,906
7,734,754
2,919,523
1,510,436
27,614
12,192,327
17,480,357
67
Marketletter
Liabilities and Stockholders’ Equity
09.30.14
09.30.13
Current Liabilities
Suppliers
Loans and financing
Taxes and social contribution
Income Tax and Social Contribution
Derivatives
Advances from consumers
Shareholders remuneration (dividends payable)
Estimated obligations
Provisions for contingencies
Post-employment benefit (complementary Pension Fund)
Onerous Contracts
Sector charges (regulatory taxes)
Incentive to personnel retirement
Others
Current Liabilities Total
464,989
249,924
85,952
13
216,397
59,959
141,752
19,747
1,238,733
327,723
59,992
88,468
34
210,970
202,917
505,099
23,492
1,418,695
Non-Current Liabilities
Suppliers
Loans and financing
Taxes and social contribution
Income Tax and Social Contribution
Derivatives
Advances from consumers
Estimated obligations
Provisions for contingencies
Provision for uncovered liabilities on invested companies
Provision for onerous contract
Post-employment benefit (Complementary Pension Fund)
Leasing
Concessions to pay - UBP
Sectorial charges (regulatory taxes)
Obligations for asset demobilization
Advance for future Capital Increase
Others
Non-Current Liabilities Total
971,668
13,572
100,478
1,433,346
827,490
528,693
254,023
5,760
4,135,030
306,365
76,587
1,444,965
1,896,095
743,607
185,765
5,605
4,658,989
Stockholders’ Equity
Social Capital
Capital reserves
Profit reserves
Additional dividends proposed
Accrued profit/losses
Other comprehensive income
Non-controlling participation
9,753,953
4,916,199
-2,643,487
-706,529
-
9,753,953
4,916,199
-2,461,733
-805,746
-
Stockholders’ Equity Total
11,320,136
11,402,673
Liabilities and Stockholders’ Equity Total
16,693,899
17,480,357
68
Marketletter
Statement of Income by activity
(R$ thousand)
09.30.14
09.30.13
Operating Revenue
Generation
Plant Supply
Energy Supply
Short term electric Energy
O&M Revenue of Renewed Plants
Construction Revenue
Return on Investment - G
94,845
661,210
73,096
915,769
50,640
-
621,283
664,829
1,240,567
46,314
-
Transmission
O&M Revenue Renewed Lines
O&M Revenue
Construction Revenue – Transmission
Return on Investment - T
Other Operating Revenue
527,631
28,057
634,596
36,845
9,622
463,721
16,367
569,511
33,979
13,748
-477,494
2,554,817
-517,180
3,153,139
-428,287
-553,964
-279,372
-685,236
-450,318
-609,314
-721,407
-615,825
-824,929
-9,426
-77,906
-13,744
-126,040
-23,843
-3,022,747
-961,338
-16,534
-78,506
-15,185
-362,358
-55,861
-3,886,646
Result of equity participation
Operating Result before Financial Result
-31,131
-499,061
55,942
-677,565
Financial Result
Result before Income Tax / Social Contribution
362,992
-136,069
293,122
-384,443
151,462
15,393
20,888
94,636
-268,919
Deductions to Operating Revenue
Net Operating Revenue
Operating Costs and Expenses
Electric Energy purchased for resale
Charges on the use of electric grid
Fuel for production of electric Energy - CCC
Construction costs
Operating Expenses
Personnel, Material and Third party services
Remuneration and reimbursement
Depreciation and amortization
Donations and Contributions
Provisions
Others
Operating Cost and Expenses
Current Income Tax and and social contribution
Deferred Income Tax and and social contribution
Net income for the period
69
Marketletter
Cash Flow
(R$ thousand)
Cash Flow
OPERATING ACTIVITIES
Profit/Loss before income tax and social contribution
Depreciation and amortization
Net monetary and currency variations
Financial charges
Equity Equivalency Result
Provision for uncovered liability
Provision for credits of questionable liquidation
Provision for contingencies
Provision for staff realignment
Impairment
Global reversal reserve charges
Adjustment to present value / market value
Minority Participation in the Results
Charges on shareholders funds
Financing assets Revenue - IRR
Derivative financial instruments
Others
Variation in operating assets / liabilities
Cash generated in operating activities
09.30.2014
09.30.2013
-136,069
77,906
-190,225
96,839
31,131
27,854
101,229
-17,567
-154,516
-36,845
149,685
-239,909
-290,487
-384,443
78,506
-276,310
20,587
-55,942
26,024
79,771
505,099
-421,678
-33,979
222,485
194,899
-44,981
Financial charges paid
Payment of global reversal reserve charges
Financial charges received
Remuneration received from equity participation
Financial asset revenue by RAP
Receiving compensation for financial asset
Payment of income tax and social contribution
Payment of pension fund
Lawsuits payment
Legal deposits
Net cash operating activities
-75,962
81,852
-580,339
895,342
-18,440
-72,755
14,633
-46,156
-16,864
22,673
-569,149
4,707,379
-23,491
-36,654
4,038,913
FINANCING ACTIVITIES
Loans and financing obtained
Loans and financing payable – principal
Payment of Shareholders remuneration
Payment on refinancing of taxes and contributions - Principal
Receipt of Advance for future Capital Increase
Others
Net cash financing activities
400,000
-43,659
356,341
-102,476
-102,476
-147,126
-7,346
-713,467
630,610
-237,329
-234,085
-3,533
-638,357
-2,673,790
-3,549,765
72,856
386,672
841,111
913,967
72,856
94,745
481,417
386,672
INVESTMENT ACTIVITIES
Acquisition of fixed asset
Acquisition of intangible asset
Acquisition of Concession asset
Advance for future capital increase
Acquisition of equity participation
Others
Net cash investment activities
Increase (decrease) in cash and cash equivalent
Cash and cash equivalent – beginning of period – 12/31/13
Cash and cash equivalent – end of period – 03/31/14
70
Marketletter
Analysis of the results
3Q14 X 2Q14
The Company had a net profit in the 3Q14 587.4% lower than reported in the previous quarter, from a profit of R$ 47.4 million in the 2Q14 to a
loss of R$ 230.8 million in the 3Q14, mainly due to the following factors described.
Operating Revenue
In generation:
The supply of electricity for final clients increased by 9.8%, from R$ 218.2 million in the 2Q14 to R$ 239.7 million in the 3Q14 , due primarily to
higher volume of energy sold with the establishment of new contracts.
The short-term electricity decreased by 18%, from R$ (5.6) million in the 2Q14 for R$ (6.7) million in the 3Q14, mainly due to the reduction in
power generation of the Power Plant Northeastern Complex.
Transmission:
Revenues from operation and maintenance of renewed lines showed an increase of 23.6%, from R$ 162.7 million in the 2Q14 to R$ 201.1 million
in the 3Q14 , mainly due to the update of the recipe and entry of new projects previously authorized.
Revenues from financial assets showed an increase of 403.1%, from R$ 4.9 million in the 2Q14 to R$ 24.5 million in the 3Q14 , mainly due to
entry of new ventures.
Operating Expenses
Electricity purchased for resale increased by 131.1%, from R$ (105.8) million in the 2Q14 for R$ (244.6) million, in the 3Q14 , mainly due to
reduction in the generation of hydroelectric power plants due to the strong drought that affects the region.
The fuel for electricity production decreased by 27.3% from R$ (108.0) million in the 2Q14 for R$ (78.6) million in the 3Q14 , mainly due to
reduced operation of the Camaçari plant.
Operational provisions had increased 350.7%, from a reversal R$ 84.8 million in the 2Q14 to a provision of R $ 212.6 million in the 3Q14 ,
primarily due to the recording of a provision for losses on investments, R$ 44 million, and updating of the studies conducted by the Company to
record an impairment, R$ 368 million.
Financial Results
Revenues from financial investments decreased by 45.2%, from R$ 91.9 million in the 2Q14 to R$ 50.3 million in the 3Q14, mainly due to income
from investments in the extra market fund.
The arrears revenues decreased by 60%, from R$ 13.4 million in the 2Q14 to R$ 5.4 million in the 3Q14, mainly due to the reduction in arrears of
electricity sold.
The remuneration of the Indemnifies Law 12,783/13 decreased by 49%, from R$ 69.8 million in the 2Q14 to R$ 35.6 million in the 3Q14, mainly
due to reduction of receivables.
Shareholding Participations
The result from equity investments presented gain of 122.6%, from a loss of R$ (37.0) million in the 2Q14 to a gain of R$ 8.4 million in the
3Q14, due primarily to an increase in income of equity accounting of CHESF on their investments in SPEs.
71
Marketletter
Market Data
1.Generation Assets and Energy generated
1.1.Own assets
Unit
Funil
Pedra
Araras
Curemas
Paulo Afonso Complex, Piloto and Apolônio
Sales (Moxotó)
Sobradinho
Luiz Gonzaga (Itaparica)
Boa Esperança (Castelo Branco)
Xingó
Camaçari*
Installed
Capacity
(MW)
Guaranteed
energy
(MW Average)
Energy generated (MWh)
1Q14
2Q14
3Q14
30.00
20.00
4.00
3.52
10.91
3.74
1.00
11,239,38
1,433,04
83,30
9,119,54
2,450,95
-
9,052,60
2,102,05
-
4,281.60
2.225.00
2,453,958,72
2,414,740,91
2,399,169,40
1,050.30
1,479.60
237.30
3,162.00
346.80
531.00
959.00
143.00
2.139.00
229.80
582,647,89
1,062,845,43
333,799,22
2,710,531,52
126,992,22
599,487,26
1,040,267,05
275,788,21
2,713,788,43
143,031,99
550,797,90
1,038,596,58
291,247,74
2,737,994,07
95,358,77
(*) The UTE Camaçari installed capacityis 346.8 MW when operates with Natural Gas, that is more efficient. When diesel oil is usedits installed capacity is around 333.8 MW. Guaranteed Energy of
Funilchanged since 01/01/2014, according to ANEEL Ordinance 1,577, from 07/30/2013.
Unit
Funil
Pedra
Araras
Piloto
Curemas
Complexo de Paulo Afonso
Sobradinho
Luiz Gonzaga (Itaparica)
Boa Esperança (Castelo Branco)
Xingó
Camaçari
Location
(State)
Beginning of
Operation
End of Concession
BA
BA
CE
BA
PB
BA
BA
PE
PI
SE
BA
Mar/62
Apr/78
Feb/67
Jan/55
Jun/57
Jan/55
Apr/79
Feb/88
Jan/70
Apr/94
Feb/79
Dec/2042
Dec/2042
Jul/2015
Jul/2015
Nov/2024
Dec/2042
Feb/2022
Dec/2042
Dec/2042
Dec/2042
Aug/2027
1.2.SPEs
SPE
Energetica Águas da Pedra S.A.
ESBR Participações S.A.
Pedra Branca S.A.
São Pedro do Lago S.A.
Sete Gameleiras S.A.
Unit
Dardanelos
Jirau (*)
Pedra Branca
São Pedro do Lago
Sete Gameleiras
Unit
UHE Dardanelos
UHE Jirau
Pedra Branca
São Pedro do Lago
Sete Gameleiras
Installed
Capacity
(MW)
Guaranteed
energy
(MW Average)
261,00
3,750,00
30,00
30,00
30,00
159,60
2,184,60
12,20
13,50
12,60
Energy generated (MWh)
1Q14
2Q14
3Q14
544,046,35
289,282,53
26,500,75
22,615,16
25,566,99
465,653,50
730,294,27
30,733,00
23,734,50
29,291,16
98,142,47
1,047,941,35
38,559,89
37,050,43
38,426,09
Participation
(%)
Local (State)
Beginning of
Operation
End of Operation
24.5
20.0
49.0
49.0
49.0
MT
RO
BA
BA
BA
Aug/11
Sep/13
Jan/13
Jan/13
Jan/13
Jul/42
Aug/43
Feb/46
Feb/46
Feb/46
(*) The first turbine become into Operation on Sep/13 with 75 MW of installed capacity. In the 3Q14 the company totallized 13 machines into Operation, compounding an installed capacity under
Operation of 975 MW.
72
Marketletter
2.Electric energy purchased for resale
2.1. Own assets
Supplier
Eletrobras Sistem
Others
Unit
1Q14
2Q14
3Q14
MWh
R$ million
MWh
R$ million
108,050
17,3
393,719
54,1
109,200
17,5
404,089
53,9
110,400
17,7
596,173
178,9
1Q14
2Q14
3Q14
-
7,830
4,84
29,645
17,72
2.2.SPE
Energética Águas da Pedra S.A.
Supplier
Unit
MWh
R$ million
MWh
R$ million
Eletrobras System
Others
Due to the enlargement of the drought, the generation of power from the plant was affected need to resort to short-term energy market (CCEE) to ensure delivery of contracted energy.
3.Energy sold
3.1.Own assets
3.1.1. Energy sold by enterprises not affected by 12,783 law
Buyer
Eletrobras
System
Others
Total
Sale model
1Q14
R$ million
A
B
A
B
A
B
219,9
219,9
MWh
2,392,313
2,392,313
2Q14
R$ million
235,7
235,7
MWh
1,982,553
1,982,553
3Q14
R$ million
255,8
255,8
MWh
2,088,408
2,088,408
A - Through auction
B - Through free market agreements or bilateral contracts
3.1.2. Energy sold by enterprises affected by 12,783 law
Buyer
Eletrobras
System
Others
Total
Sale model
1Q14
R$ million
A
B
A
B
A
B
24,8
295,9
320,7
-
MWh
938,919
10,688,510
11,627,429
-
2Q14
R$ million
26,2
296,7
322,9
-
MWh
948,912
10,756,402
11,705,314
-
3Q14
R$ million
26,6
290,3
316,9
-
MWh
959,340
10,874,604
11,833,944
-
A - Through auction
B - Through free market agreements or bilateral contracts
73
Marketletter
3.2.SPE
Energética Águas da Pedra S.A.
Buyer
Eletrobras System
Others
Total
Sale model
A
B
A
B
A
B
1Q14
R$ million
52,7
52,7
MWh
2Q14
R$ million
MWh
327,333
327,333
50,2
50,2
3Q14
R$ million
306,799
306,799
52,9
52,9
MWh
315,136
315,136
ESBR Participações S.A.
Buyer
Eletrobras System
Others
Total
Sale model
A
B
A
B
A
B
CCEE
1Q14
R$ million
3,2
1,6
28,2
2,4
31,4
4,0
91,4
MWh
32,900
9,500
299,400
14,200
332,300
23,700
-66,800
2Q14
R$ million
MWh
8,3
3,7
76,5
5,6
84,8
9,3
108,1
88,100
21,900
799,600
32,900
887,700
54,800
-212,200
3Q14
R$ million
12,7
16,7
112,0
24,3
124,7
41,0
12,9
MWh
131,300
98,300
1,141,200
143,900
1,272,500
242,200
-466,700
Pedra Branca S.A.
Buyer
Eletrobras System
Others
Total
Sale model
A
B
A
B
A
B
1Q14
R$ million
2,4
1,9
4,3
-
MWh
15,078
11,639
26,717
-
2Q14
R$ million
MWh
2,4
1,9
4,3
-
15,078
11,639
26,717
-
3Q14
R$ million
2,4
1,9
4,3
-
MWh
15,078
11,639
26,717
-
São Pedro do Lago S.A.
Buyer
Eletrobras System
Others
Total
Sale model
A
B
A
B
A
B
1Q14
R$ million
2,6
2,0
4,6
-
MWh
16,314
12,593
28,907
-
2Q14
R$ million
MWh
2,6
2,0
4,6
-
16,314
12,593
28,907
-
3Q14
R$ million
2,6
2,0
4,6
-
MWh
16,314
12,593
28,907
-
Sete Gameleiras S.A.
Buyer
Eletrobras System
Others
Total
Sale
model
A
B
A
B
A
B
1Q14
R$ million
2,5
1,9
4,4
-
MWh
15,448
11,926
27,374
-
2Q14
R$ million
MWh
2,5
1,9
4,4
-
15,448
11,926
27,374
-
3Q14
R$ million
2,5
1,9
4,4
-
MWh
15,448
11,926
27,374
-
74
Marketletter
4.Settlement CCEE (Spot e MRE)
Unit
1Q14
R$ million
MWh
MWaverage
R$ million
MWh
MWaverage
R$ million
MWh
MWaverage
Sale
Purchase
Net
2Q14
85,39
29,256,43
13,54
6,49
31,173,14
14,43
78,90
-1,916,70
0,89
-5,63
7,957,25
3,64
34,44
44,783,40
20,51
-40,07
36,826,15
16,86
3Q14
-6,67
*
*
48,08
110,667,32
50,12
-54,75
-110,667,32
-50,12
* In the 3Q14 there was no sale in CCEE liquidation. The negative move is due to adjustment from prevoious period.
5.Fuel used to produce electricity
Type
Unit
Diesel Oil
Gas
Litre
m3
1Q14
Amount
R$ Million
25.494.000
18.416.991
Total:
Amount
58,1
34,7
92,8
2Q14
R$ Million
36.386.000
14.903.007
79,2
28,8
108,0
3Q14
R$ Million
Amount
29.708.000
1.238.529
76,2
2,3
78,6
*Since 3Q14, the UTE Camaçari operates with only 1 machine. The others 4 machines were suspended of operation by ANEEL, because it does not have operations conditions
6.Losses in generation - %
1Q13
2Q13
3Q13
2.76
2.63
2.40
7.Average price – R$/MWh
7.1.Own assets – enterprises not affected by 12,783 law
1Q14
2Q14
3Q14
91.92
118.88
122.49
7.1.1. Own Assets – enterprises renewed in terms of 12,783 law - O&M
1Q14
2Q14
3Q14
27.58
27.58
26.78
7.2.SPE
Energética Águas da Pedra S.A.
ESBR Participações S.A.
Pedra Branca S.A.
São Pedro do Lago S.A.
Sete Gameleiras S.A.
1Q14
2Q14
3Q14
160.99
99.31
160.86
160.86
160.86
163.68
99.87
160.86
160.86
160.86
168.10
109.38
160.86
160.86
160.86
75
Marketletter
8.Extension of transmission lines - Km
8.1.Own assets
8.1.1.Transmission lines
8.1.1.1. Transmission lines – enterprises not affected by 12,783 law
From-To
Ibicoara-Brumado, C1
Milagres-Coremas, C2
Milagres-Tauá, C1
Paulo Afonso III- Zebu II, C1
Paulo Afonso III- Zebu II, C2
Paraiso-Açu II, C2
Picos-Tauá II, C1
Pirapama II-Suape II, C1
Pirapama II-Suape II, C2
Suape III-Suape II, C1
Suape III-Suape II, C2
C. Mirim II-João Câmara II C1
Extremoz II-C. Mirim II C1
Jardim/Penedo, C1
B. Jesus da Lapa II – Igaporã II
Sub-Total - 230 Kv
Total
Extension
(km)
Tension
(kV)
Beginning of
Operation
End of Concession
94.5
119.8
208.1
5.4
5.4
132.8
183.2
20.9
20.9
3.6
3.6
31.4
74.5
110.0
115.0
1,129.1
1,129.1
230
230
230
230
230
230
230
230
230
230
230
230
230
230
230
Mar/12
Jun/09
Dec/07
Aug/12
Aug/12
Sep/10
Feb/13
Dec/12
Dec/12
Dec/12
Dec/12
Feb/14
Feb/14
Mar/14
May/14
Jun/37
Feb/35
Feb/35
Aug/39
Aug/39
Jun/37
Jun/37
Jun/37
Jun/37
Jan/39
Jan/39
Nov/40
Nov/40
Mar/38
Nov/40
8.1.1.2. Transmission lines – enterprises renewed in terms of 12,783 law – O&M
From-To
Angelim II-Recife II, C1
Angelim II-Recife II, C2
Jardim-Camaçari IV, C1
Camaçari II-Camaçari IV, C1
L. Gonzaga-Angelim II, C1
L. Gonzaga-Milagres, C1
L. Gonzaga-Olindina, C1
Luiz Gonzaga-Sobradinho, C1
Messias-Suape II, C1
Suape II-Recife II, C1
Milagres-Quixada, C1
Olindina-Camacari II, C1
Olindina-Camacari II, C2
P.Afonso IV-Angelim II, C2
P.Afonso IV-Olindina, C2
P.Afonso IV-L. Gonzaga, C1
P.Afonso IV-Xingo, C1
Pres.Dutra II-Teresina II, C1
Pres.Dutra II-Teresina II, C2
Quixada-FortalezaII, C1
Sobral III-Pecem II, C1
Pecem II-Fortaleza II, C1
S.J.Piaui-B.Esperanca, C1
Sobradinho-S.J.Piaui, C1
Sobradinho-Luiz Gonzaga, C2
Teresina II-Sobral III, C1
U. Luiz Gonzaga-L.Gonzaga, C1
U. Luiz Gonzaga-L.Gonzaga, C2
U. Luiz Gonzaga-L.Gonzaga, C3
Usina IV-P.Afonso IV, C1
Usina IV-P.Afonso IV, C2
Usina IV-P.Afonso IV, C3
Usina IV-P.Afonso IV, C4
Usina IV-P.Afonso IV, C5
Usina IV-P.Afonso IV, C6
Extension
(km)
Tension
(kV)
Beginning of
Operation
End of Concession
169.1
170.7
249.6
0.3
248.4
230.8
248.6
290.6
176.6
45.4
268.0
147.2
146.9
221.5
212.8
37.4
53.8
207.9
207.7
136.5
176.6
73.1
233.5
211.0
316.0
334.2
0.6
0.6
0.6
0.6
0.6
0.6
0.6
0.6
0.6
500
500
500
500
500
500
500
500
500
500
500
500
500
500
500
500
500
500
500
500
500
500
500
500
500
500
500
500
500
500
500
500
500
500
500
Aug/77
Mar/80
May/00
Nov/12
Feb/77
Feb/02
May/76
Oct/79
Dec/98
Dec/98
Sep/03
Oct/76
Sep/78
Jul/79
Jun/78
Oct/79
Feb/93
May/00
Apr/03
Sep/03
May/00
May/00
Dec/80
Oct/80
Jun/88
May/00
May/79
May/79
May/79
Dec/79
May/80
Oct/80
Jul/81
Dec/81
May/83
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
76
Marketletter
From-To
Usina Xingo – Xingo, C1
Usina Xingo – Xingo, C2
Usina Xingo – Xingo, C3
Usina.Xingo.- Xingo, C4
Usina Xingo – Xingo, C5
Usina Xingo – Xingo, C6
Xingo-Jardim, C1
Xingo-Messias, C1
Sub-Total - 500 Kv
Angelim-Messias, C1
Angelim-Messias, C2
Angelim-Messias, C3
Angelim-Ribeirão, C1
Angelim-Recife II, C2
Angelim-Recife II, C3
Angelim-Tacaimbó, C1
Angelim-Tacaimbó, C2
Angelim-Tacaimbó, C3
Arapiraca III–Rio Largo II, C1
Arapiraca III–Penedo, C1
Boa Esperança-Teresina, C1
Boa Esperança-Teresina, C2
Bongi-Açonorte, C1
B.Jesus da Lapa-Barreiras, C1
Banabuiu-Fortaleza, C1
Banabuiu-Fortaleza, C2
Aquiraz II-Banabuiu, C1
Aquiraz II-Fortaleza, C1
Banabuiu-Mossoro II, C1
Banabuiu-Russas II, C1
Bom Nome-Milagres, C1
Bom Nome-Milagres, C2
Bom Nome-Milagres, C3
Cauipe-Sobral, C1
Cicero Dantas-Catu, C1
Cicero Dantas-Catu, C2
Campina Grande-Coteminas, C1
Campina Grande-Goianinha, C1
C. Grande II – Extremoz II C1
Campina Grande II-Natal III, C2
Natal III-Natal II, C1
Natal III-Natal II, C2
Campina Grande II-Paraiso, C1
Campina Grande II-Paraiso, C2
Camaçari-Caraíba Metais, C1
Camaçari-Cqr, C1
Camaçari-Cotegipe, C1
Camaçari-Cotegipe, C2
Camaçari-Gov.Mangabeira, C1
Camaçari-Gov.Mangabeira, C2
Camaçari-Jacaracanga, C1
Camaçari-Jacaracanga, C2
Camaçari-Matatu, C1
Camaçari-Pituaçu, C1
Camaçari-Pituaçu, C2
Cotegipe-Jacaracanga, C1
Cotegipe-Matatu, C1
Catu-Camaçari, C1
Catu-Camaçari, C2
Catu-Gov.Mangabeira, C1
Catu-Itabaianinha, C1
Funil-Itapebi, C1
Funil-Itapebi, C2
Fortaleza-Cauipe, C1
Fortaleza II-Delmiro Gouveia, C1
Fortaleza II-Delmiro Gouveia, C2
Fortaleza-Fortaleza II, C1
Fortaleza-Fortaleza II, C2
Fortaleza-Fortaleza II, C3
Extension
(km)
0.9
0.9
0.9
0.9
0.8
0.8
159.8
219.0
5,203.6
78.9
78.5
79.1
115.7
171.7
171.7
63.9
64.1
65.7
124.7
89.6
198.0
198.0
6.0
233.5
177.2
176.0
181.8
30.1
177.2
110.4
83.7
84.1
83.9
177.4
200.7
201.3
2.5
99.3
192.8
176.5
11.6
11.6
118.1
119.0
3.2
7.2
22.9
23.5
83.7
83.7
19.2
19.2
47.0
39.2
39.2
15.2
30.0
25.0
25.0
77.2
143.9
198.1
198.1
58.2
7.1
7.1
0.3
0.3
0.3
Tension
(kV)
Beginning of
Operation
End of Concession
500
500
500
500
500
500
500
500
Oct/95
Oct/95
Oct/95
Oct/95
Mar/94
Nov/94
May/00
Feb/93
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
230
230
230
230
230
230
230
230
230
230
230
230
230
230
230
230
230
230
230
230
230
230
230
230
230
230
230
230
230
230
230
230
230
230
230
230
230
230
230
230
230
230
230
230
230
230
230
230
230
230
230
230
230
230
230
230
230
230
230
230
Apr/77
Oct/76
Aug/86
Jan/53
Jan/67
Jan/61
Mar/63
Mar/73
Jun/98
Jan/98
Jan/98
Mar/70
Dec/81
Aug/76
Dec/90
Oct/65
Jul/78
Aug/78
Aug/78
Jul/03
May/71
Sep/61
Dec/74
Sep/79
Nov/73
Mar/68
Apr/72
Oct/99
Feb/70
Oct/99
Oct/02
Oct/99
Oct/02
May/79
Apr/79
Feb/82
May/92
Jun/70
Oct/76
Sep/82
Sep/82
Jul/77
Mar/77
Aug/53
Oct/84
Jan/02
Dec/71
May/77
Jun/70
Aug/53
Aug/67
Aug/53
Jul/90
Jul/90
Nov/73
Jun/89
Jun/89
Feb/00
Feb/00
Oct/05
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
77
Marketletter
From-To
Fortaleza II-Cauipe, C1
Fortaleza II-Cauipe, C2
Fortaleza II-Pici, C1
Fortaleza II-Pici, C2
Goianinha-Santa Rita II, C1
Santa Rita II-Mussuré II, C1
Goianinha-Mussure, C2
Gov.Mangabeira-Sapeaçu, C1
Gov.Mangabeira-Sapeaçu, C2
Gov.Mangabeira-Sapeaçu, C3
Icó-Banabuiú, C1
Itapebi-Eunápolis, C1
Itapebi-Eunápolis, C2
Irecê-Brotas de Macaúba, C1
Brotas de Macaúba-B.J Lapa, C1
Itabaianinha-Itabaiana, C1
Itabaiana-Jardim, C1
Itabaiana-Jardim, C2
Jacaracanga-Alunordeste, C1
Jacaracanga-Dow, C1
Jacaracanga-Dow, C2
Jardim-Fafen, C1
Jardim-Cia.Vale.Rio Doce, C1
Jaguarari-Sr. do Bonfim II, C1
Juazeiro II-Jaguarari, C1
Juazeiro II-Sr.do Bonfim II, C2
Libra-Libra, C1
Milagres-Banabuiu, C1
Milagres-Ico, C1
Milagres-Banabuiu, C3
Milagres-Coremas, C1
Mirueira-Pau Ferro, C1
Mirueira-Goianinha, C1
Messias-Maceió, C1
Messias-Maceió, C2
Messias-Rio Largo, C1
Messias-Rio Largo, C2
Messias-Rio Largo, C3
Mossoró-Açu, C1
Natal III - Extremoz II, C1
Olindina-Olindina, C1
Olindina-Olindina, C2
Paulo Afonso-Angelim, C1
Paulo Afonso-Angelim, C2
Paulo Afonso-Angelim, C3
Paulo Afonso-Angelim, C4
Paulo Afonso-Bom Nome, C1
Paulo Afonso-Bom Nome, C2
Paulo Afonso-Bom Nome, C3
Paulo Afonso-C. Dantas, C1
Paulo Afonso-C. Dantas, C2
Paulo Afonso-Itabaiana, C2
Paulo Afonso-Itabaiana, C3
Paulo Afonso IV-P.Afonso, C1
Paulo Afonso IV-P.Afonso, C2
Pau Ferro-Coteminas, C1
Pau Ferro-Campina Grande, C2
Paraiso-Natal II, C1
Paraiso-Natal II, C2
Piripiri-Sobral, C1
Pituaçu-Narandiba, C1
Pituaçu-Narandiba, C2
Pituaçu-Pituaçu, C1
Recife II-Joairam, C1
Recife II-Joairam, C2
Recife II-Joairam, C3
Joairam-Bongi, C1
Joairam-Bongi, C2
Joairam-Bongi, C3
Extension
(km)
Tension
(kV)
Beginning of
Operation
End of Concession
58.0
58.0
27.5
27.5
59.0
17.0
50.6
23.5
22.5
22.6
124.7
47.0
47.0
135.4
204.6
76.8
44.0
44.0
1.8
7.9
7.8
12.5
0.8
80.7
88.0
148.6
1.5
225.9
103.4
225.1
119.4
23.1
50.1
25.9
25.9
11.9
11.6
11.6
71.3
17.0
0.2
0.2
221.3
220.2
220.2
221.0
170.1
170.7
170.8
134.2
133.8
162.5
162.5
1.1
1.4
123.9
125.9
96.2
97.2
167.4
3.6
3.6
2.0
7.4
7.4
7.4
6.3
6.4
6.4
230
230
230
230
230
230
230
230
230
230
230
230
230
230
230
230
230
230
230
230
230
230
230
230
230
230
230
230
230
230
230
230
230
230
230
230
230
230
230
230
230
230
230
230
230
230
230
230
230
230
230
230
230
230
230
230
230
230
230
230
230
230
230
230
230
230
230
230
230
Nov/03
Nov/03
May/09
May/09
Oct/77
Oct/77
Oct/77
Dec/68
Feb/84
Feb/84
Dec/77
Jul/90
Jul/90
Sep/81
Sep/81
Aug/53
Aug/79
Aug/79
May/83
Jul/77
Mar/77
Aug/81
Feb/07
Jan/80
Jan/80
Apr/81
Dec/91
Feb/65
Dec/77
Dec/77
Nov/86
Oct/99
Dec/89
Nov/96
Nov/96
Aug/86
Oct/76
Apr/77
Jul/87
Feb/14
May/80
May/80
Jan/53
Jan/67
Jan/61
Dec/73
Oct/61
Dec/74
Nov/78
Mar/68
Jun/72
Apr/87
Sep/85
Oct/79
Feb/81
Oct/99
Oct/99
May/79
Apr/79
Aug/73
Nov/83
Nov/83
Jan/77
Jan/67
Jan/67
Jan/61
Jan/53
Jan/67
Jan/61
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
78
Marketletter
From-To
Recife II-Goianinha, C1
Recife II-Goianinha, C2
Recife II-Mirueira, C1
Recife II-Mirueira, C2
Recife II-Mirueira, C3
Recife II-Pau Ferro, C1
Recife II-Pau Ferro, C2
Recife II-Pirapama II, C1
Recife II-Pirapama II, C2
Ribeirão-Recife II, C1
Rio Largo-Braskem, C1
Russas II-Mossoró II, C1
Sobral III-Sobral II, C1
Sobral III-Sobral II, C2
Sobral II – Cccp, 230 Kv, C1
S. Mendes-Picos, C1
S.João Piaui-Eliseu Martins, C1
S.João Piaui-S. Mendes, C1
Sr.do Bonfinal-Irece, C1
Sapeaçu-Funil, C1
Sapeaçu- S.Ant.Jesus, C2
Sapeaçu- S.Ant.Jesus, C3
S.Ant.Jesus-Funil, C2
S.Ant.Jesus-Funil, C3
Tacaimbo-C.Grande II, C1
Tacaimbo-C.Grande II, C2
Teresina I-Teresina II, C1
Teresina I-Teresina II, C2
Teresina-Piripiri, C1
Usina Apol.Sales- P.Afonso, C1
Usina Apol.Sales- P.Afonso, C2
Us. B.Esperança-B.Esperança, C1
Sobradinho-Juazeiro II, C1
Sobradinho-Juazeiro II, C2
Usina II-Paulo Afonso, C1
Usina II-Paulo Afonso, C3
Usina II-Paulo Afonso, C4
Usina II-Paulo Afonso, C5
Usina III-Paulo Afonso, C1
Usina III-Paulo Afonso, C2
Usina III-Paulo Afonso, C3
Usina III-Paulo Afonso, C4
Usina I-Paulo Afonso, C1
Usina I-Paulo Afonso, C2
Sub-Total - 230 Kv
C.Grande II-S.Cruz II, C1
C.Grande II-Pilões, C1
Paraíso-Santa Cruz II, C1
Pilões – Paraíso, C1
C. Novos-Santana do Matos, C1
Santana do Matos-Açu, C1
Santa Cruz II-C.Novos II, C1
Usina II-Zebu, C1
Sub-Total - 138 Kv
Abaixadora-Mulungu, C1
Abaixadora-Moxoto, C1
Abaixadora-Zebu, C1
Camacari-Camacari, C2
Cotegipe-Catu, C1
Cotegipe-Catu, C2
Jaboatao-Recife II, C1
M.Reduzido-M.Reduzido, C1
Matatu-Pituacu, C1
Matatu-Pituacu, C2
Pirapama II-Recife II, C1
Pituacu-Cotegipe, C1
Pituacu-Cotegipe, C2
Usina de Pedra-Jequié, C1
Vila Zebu-Itaparica, C1
Extension
(km)
71.4
71.5
31.0
31.5
31.5
33.2
33.2
27.6
27.6
56.6
23.2
75.0
13.8
13.8
2.9
99.6
172.9
68.2
214.0
195.7
32.0
32.0
162.1
162.6
124.7
124.7
25.3
25.3
154.7
5.8
5.7
2.8
42.5
42.5
0.7
0.7
0.7
0.7
0.6
0.6
0.6
0.6
0.6
0.6
12,584.2
117.3
79.3
8.7
107.9
38.8
49.6
55.0
6.0
462.6
6.5
5.3
5.4
1.4
48.7
48.7
3.1
0.5
7.5
7.4
21.3
22.1
21.9
20.5
27.0
Tension
(kV)
Beginning of
Operation
End of Concession
230
230
230
230
230
230
230
230
230
230
230
230
230
230
230
230
230
230
230
230
230
230
230
230
230
230
230
230
230
230
230
230
230
230
230
230
230
230
230
230
230
230
230
230
Feb/72
Feb/72
Jun/80
Jun/80
Jun/86
Sep/04
Sep/04
Jun/80
Jun/80
Sep/94
Jun/76
Apr/81
May/09
May/09
Jun/01
Mar/86
Feb/98
Jul/85
Sep/81
Dec/68
Feb/84
Feb/84
Feb/84
Feb/84
Jun/85
Jun/85
Sep/02
Sep/02
Nov/71
Oct/77
Mar/77
Dec/80
Jan/80
Apr/81
Oct/61
May/67
May/67
Dec/67
Oct/71
Apr/72
Apr/74
Aug/74
Jan/55
Jan/55
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
138
138
138
138
138
138
138
138
Apr/63
Jan/68
Jan/68
Jan/68
Dec/67
Dec/67
Oct/65
Dec/64
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
69
69
69
69
69
69
69
69
69
69
69
69
69
69
69
May/75
Oct/70
Oct/72
Jun/60
Jun/60
Jun/60
Jan/65
Apr/73
Jun/60
Jun/60
Jan/65
Jun/60
Jun/60
Nov/78
Jul/77
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
79
Marketletter
From-To
Zebu-Moxoto, C1
Zebu-Xingo, C1
Sub-total 69 kV
Total
Extension
(km)
7.2
56.5
311.0
18,561.4
Tension
(kV)
Beginning of
Operation
End of Concession
69
69
Apr/83
Aug/81
Dec/42
Dec/42
8.1.2.Substations
8.1.2.1. Substations – enterprises not affected by 12,783 law
Substation
SE
SE
SE
SE
SE
SE
SE
SE
SE
SE
SE
SE
SE
SE
SE
SE
SE
SE
SE
SE
Elev. Usina de Curemas
Elev. Usina Term. Camaçari
Tauá II
Ibicoara
Pilões II
Santa Rita II
Suape III
Coteminas
Natal III
Zebu II
Brotas de Macaubas
Brumado
Camaçari IV
Sapeaçu
Suape II
Arapiraca III
Extremoz II
João Câmara
Acaraú
Igaporã
Transformation
capacity (MVA)
Location
Beginning of
Operation
End of Operation
5
400
102
410
300
200
300
200
2,400
600
100
150
360
200
300
PB
BA
CE
BA
PB
PB
PE
PB
RN
AL
BA
BA
BA
BA
PE
AL
RN
RN
CE
BA
Jan/68
Sep/78
Dec/07
Jan/11
Oct/12
Jul/12
Jul/12
Dec/09
Aug/12
Jul/12
Jul/12
Aug/10
Nov/12
May/03
Dec/12
Jun/13
Feb/14
Feb/14
Apr/14
Jun/14
Nov/24
Aug/27
Mar/35
Jun/37
Dec/42
Aug/39
Jan/39
Dec/42
Aug/39
Aug/39
Dec/42
Jul/40
Jul/40
Jul/40
Jan/39
Oct/40
Nov/40
Nov/40
Nov/40
Nov/40
8.1.2.2. Substations – enterprises renewed in terms of 12,783 law – O&M
Substation
SE
SE
SE
SE
SE
SE
SE
SE
SE
SE
SE
SE
SE
SE
SE
SE
SE
SE
SE
SE
SE
SE
SE
SE
SE
SE
SE
SE
SE
Elev. Usina Apolonio Sales
Elev. Usina Luiz Gonzaga
Elev. Usina Paulo Afonso I
Elev. Usina Paulo Afonso II
Elev. Usina Paulo Afonso III
Elev. Usina Paulo Afonso IV
Elev. Usina Piloto
Elev. Usina Xingó
Elev. Usina de Araras
Elev. Usina B. Esperança
Elev. Usina de Sobradinho
Elev. Usina de Funil
Elev. Usina de Pedra
Pau Ferro
Paraiso
Bom Nome
Irecê
Milagres
Mirueira
Moxotó
Mulungú
Sobradinho
Sobral II
Tacaimbó
Cícero Dantas
Açu II
Angelim
Angelim II
Bongi
Transformation
Capacity (MVA)
Location
(State)
Beginning of
Operation
End of Operation
480
1,665
202.5
495
960
2,700
3
3330
5
280
1200
43,2
27
301
100
388
229
920
401
20
10
600
400
301
101
378
310
0
490
AL
PE
BA
BA
BA
BA
BA
SE
CE
PI
BA
BA
BA
PE
RN
PE
BA
CE
PE
BA
BA
BA
CE
PE
BA
RN
PE
PE
PE
Feb/77
May/88
Jan/55
Jan/62
Jan/71
Nov/79
Jan/53
Nov/94
Feb/60
Mar/70
Oct/79
Jan/59
Nov/78
Aug/02
Feb/04
Oct/63
Sep/81
Jan/64
Aug/78
Jan/72
May/75
Oct/79
Nov/73
Jun/85
May/56
Nov/89
Jan/56
Jan/80
May/56
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
80
Marketletter
Substation
SE
SE
SE
SE
SE
SE
SE
SE
SE
SE
SE
SE
SE
SE
SE
SE
SE
SE
SE
SE
SE
SE
SE
SE
SE
SE
SE
SE
SE
SE
SE
SE
SE
SE
SE
SE
SE
SE
SE
SE
SE
SE
SE
SE
SE
SE
SE
SE
SE
SE
SE
SE
SE
SE
SE
SE
SE
SE
SE
SE
SE
SE
SE
SE
Campina Grande II
Jaguarari
Itapebi
Funil
SEnhor Do Bonfim II
Eunápolis
Picos
Modelo Reduzido
Mossoró II
Barreiras
Sto. Antonio de Jesus
Icó
Mussuré II
Paulo Afonso
Penedo
Cauípe
Pici II
Piripiri
Pituaçu
Santa Cruz II
Banabuiú
Currais Novos II
Santana dos Matos II
Coremas
Fortaleza
Joairam
Juazeiro da Bahia II
Matatu
Natal II
Itabaianinha
Pirapama II
Russas II
Elizeu Martins
Boa Esperança 230 Kv
Boa Esperança 500 Kv
Xingó 500 Kv
Paulo Afonso IV
Recife II
S. João do Piaui
Zebu
Abaixadora
Bom Jesus da Lapa
Gov. Mangabeira
Quixadá
Jacaracanga
Ribeirão
Rio Largo II
Messias
Camaçari II
Catu
Cotegipe
Teresina
Fortaleza II
Goianinha
Teresina II
Delmiro Gouveia
Maceió
Itabaiana
Itaparica
Jardim
Sobral III
Xingó 69 Kv
Olindina
Luiz Gonzaga 500kv
Transformation
Capacity (MVA)
640
450
333.34
300
173
12,5
300
401
201
200
401
302
201
400
242
402
90
121
92
50
300
405
451
302
380
401
73
400
300
101
110
300
1,200
2,410
418
38
110
162
100
301
300
301
1,201
2,605
300
302
600
1,800
300
600
401
400
223
10
1,601
1,200
12.5
40
-
Location
(State)
Beginning of
Operation
End of Operation
PB
BA
BA
BA
BA
BA
PI
BA
RN
BA
BA
CE
PB
AL
AL
CE
CE
PI
BA
RN
CE
RN
RN
PB
CE
PE
BA
BA
RN
SE
PE
CE
PI
PI
PI
SE
AL
PE
PI
AL
BA
BA
BA
CE
BA
PE
AL
AL
BA
BA
BA
PI
CE
PE
PI
CE
AL
SE
PE
SE
CE
SE
BA
PE
May/64
Jan/80
Jan/03
Jan/56
May/81
Sep/98
Jul/92
Jan/67
Jan/77
Jun/96
Mar/97
May/97
Mar/79
Mar/74
May/97
Mar/01
May/05
Aug/73
Mar/83
Mar/63
Jan/64
Nov/75
Nov/75
Dec/90
Jan/64
Jul/06
Apr/81
Jan/65
Jan/79
Feb/96
Feb/72
Nov/82
Jan/06
Mar/70
Nov/80
Nov/94
Jan/79
Jan/79
Nov/80
Nov/76
Oct/67
Sep/81
Mar/60
Jul/03
Jan/82
Oct/94
Dec/62
Nov/94
Jan/79
May/56
Jan/56
Apr/70
May/00
Jan/61
May/00
Jun/89
Sep/02
May/57
Jan/83
Aug/79
Apr/00
Jan/87
Apr/80
May/88
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
(*) The SE Bela Vista and Campina Grande I were transferred to Energisa, according to ANEEL Resolution 4,462/2013
81
Marketletter
8.2. SPE
8.2.1. Transmission Line
SPE
From - To
Sistema de
Transmissão do
Nordeste S.A.
Teresina II/PI to
Sobral/CE and
Fortaleza/CE
Colinas–MiracemaGurupi-Peixe NovaSerra da Mesa 2
(TO / GO)
Oriximiná - Silves
- Lechuga (AM) and
SE Lechuga (exCariri)
TL Coletora Porto
Velho/ Araraquara
II, CS
INTESA - Integração
Transmissora de
Energia S.A.
Manaus
Transmissora de
Energia S.A.
Interligação Elétrica
do Madeira S.A.
Participation (%)
Extension
(km)
Tension
(kV)
Beginning of
Operation
End of Concession
49
546
500
Jan/06
Feb/34
12
695
500
May/08
Apr/36
19.5
559
500
Mar/13
Oct/38
24.5
2,375
600
Aug/13
Feb/39
8.2.2. Substations
SPE
Substation
Interligação Elétrica do Madeira
S.A.
TDG – Transmissora Delmiro
Gouveia S.A.
Transformation
capacity
Location
3,150
RO
Estação Retificadora CA/CC de
500 kV para +/- 600 kV.
Estação Inversora CC/CA de +/600 kV para 500 kV.
SE – Pecém II, de 500/230 kV.
2,950
SP
3,600
Beginning
of Operation
End of
Operation
May/14
Feb/39
Oct/13
Jul/40
Nov/13
Jul/40
CE
SE – Aquiraz, de 230/69 kV.
450
9. Transmission losses %
1Q14
2Q14
3Q14
3.0
2.4
1.8
82
Marketletter
10.Main investments of parent company– R$ million
Project
Generation
Generation system maintenance
Combined cycle of UTE Camaçari
Wind Power Casa Nova
Deployment of Wind Park
Extension of electric Energy System
Extension Generation Cap. HEP Luiz Gonzaga
(Itaparica)
Implant. Solar project - Power Generation
Itaparica resettlement area irrigation
Transmission
System extension
Reimforcement and improvements
System maintenance
Suape II / Suape III venture
Others
Total
1Q14
2Q14
3Q14
2014 budget
66,03
14,83
0.03
25,82
0.13
-
57,34
25,20
0.05
9,22
0.95
-
50,08
19,32
0.04
16,93
0.47
-
424,73
151,59
1,09
86,36
42,27
1,00
-
-
-
0.62
0.01
25,21
221,01
94,94
93,38
32,52
0.17
12,06
299,10
0.04
21,88
228,18
106,30
89,85
31,90
0.13
12,22
297,74
0.03
13,29
185,82
91,29
69,61
24,71
0.21
16,41
252,31
1,60
140,20
1,253,70
629,14
433,06
190,5
1,00
162,18
1,840,61
11.New investments
11.1.Generation
11.1.1.Own assets
Unit - Own
assets
Location
(State)
Total
Investment
(R$ million)
Investment up
to 3Q14 (R$
million)
Installed
capacity
(MW)
Guaranteed
energy (MW
Avg)
BA
692,5
648,0
180
61,4
Mar/15
May/12
Jan/46
BA
102,47
0.9
28
7,1
May/18
Feb/15
Jul/49
BA
93,04
0.7
24
5,5
May/18
Feb/15
Jul/49
Parque Eólico
Casa Nova I
Parque Eólico
UEE Casa
Nova II
Parque Eólico
UEE Casa
Nova III
Beginning of Beginning of
Operation
Construction
End of
Concession
11.1.2.SPE
UHE Jirau
UHE B.
Monte
RO
3,750.0
Physical
Assurance
(MW)
2,184.6
Sep/13
Dec/09
Aug/43
PA
11,233.1
4,571.0
Nov/15
Aug/11
Aug/45
UHE Sinop
MT
400.0
239.8
Mar/17
Dec/13
Feb/49
UEE
UEE
II
UEE
UEE
Caiçara I
Caiçara
CE
30.0
13.5
Jan/16
Jul/14
Jun/47
CE
21.0
9.3
Jan/16
Jul/14
Jul/47
Junco I
Junco II
CE
CE
30.0
30.0
12.1
11.1
Jan/16
Jan/16
Jul/14
Jul/14
Jul/47
Jul/47
UEE Santa
Joana IX
PI
30.0
15.8
Sep/15
Mar/14
Apr/49
UEE Santa
Joana X
PI
30.0
16.0
Sep/15
Mar/14
Apr/49
UEE Santa
Joana XI
PI
30.0
16.0
Sep/15
Mar/14
Apr/49
UEE Santa
PI
30.0
16.9
Sep/15
Mar/14
Apr/49
SPE
ESBR Participações S.A.
Norte Energia S.A.
Cia Energética Sinop
S.A.
U.E.E. Caiçara I S.A.
U.E.E. Caiçara II S.A.
U.E.E. Junco I S.A.
U.E.E. Junco II S.A
V. de Santa Joana IX
Energia Renováveis
S.A.
V. de Santa Joana X
Energia Renováveis
S.A.
V. de Santa Joana XI
Energia Renováveis
S.A.
V. de Santa Joana XII
Unit
Location
Installed
Capacity (MW)
Beginning of
Operation
Beginning of
Construction
End of
Concession
83
Marketletter
SPE
Energia Renováveis
S.A.
V. de Santa Joana XIII
Energia Renováveis
S.A.
V. de Santa Joana XV
Energia Renováveis
S.A.
V. de Santa Joana XVI
Energia Renováveis
S.A.
Baraúnas I Energética
S.A.
Mussambê Energética
S.A.
Morro Branco I
Energética S.A.
Caititú 2 Energia S.A.
Caititú 3 Energia S.A.
Teiú 2 Energia S.A.
Arapapá Energia S.A.
Carcará Energia S.A.
Corrupião 3 Energia
S.A.
Acauã Energia S.A.
Angical 2 Energia S.A.
Banda de Couro
Energética S.A.
Baraúnas II Energética
S.A.
Coqueirinho 2 Energia
S.A.
Papagaio Energia S.A.
Tamanduá Mirim 2
Energia S.A.
Eólica Serra das Vacas I
S.A.
Eólica Serra das Vacas
II S.A.
Eólica Serra das Vacas
III S.A.
Eólica Serra das Vacas
IV S.A.
V. de Santa Joana I
Energia Renováveis
S.A.
V. de Santa Joana III
Energia Renováveis
S.A.
V. de Santa Joana IV
Energia Renováveis
S.A.
V. de Santa Joana V
Energia Renováveis
S.A.
V. de Santa Joana VII
Energia Renováveis
S.A.
V. de Santo Augusto IV
Energia Renováveis
S.A.
Location
Installed
Capacity (MW)
Physical
Assurance
(MW)
Beginning of
Operation
Beginning of
Construction
End of
Concession
UEE Santa
Joana XIII
PI
30.0
16.0
Sep/15
Mar/14
Apr/49
UEE Santa
Joana XV
PI
30.0
16.2
Sep/15
Mar/14
Apr/49
UEE Santa
Joana XVI
PI
30.0
17.4
Sep/15
Mar/14
Apr/49
BA
29.7
12.4
Sep/15
Mar/14
Apr/49
BA
29.7
11.5
Sep/15
Mar/14
Apr/49
BA
29.7
12.7
Sep/15
Mar/14
Apr/49
BA
BA
BA
BA
BA
14.0
14.0
14.0
10.0
10.0
5.1
4.7
4.2
2.2
4.6
Sep/15
Sep/15
Sep/15
Sep/15
Sep/15
Nov/14
Nov/14
Nov/14
Nov/14
Nov/14
Apr/49
Apr/49
Apr/49
Apr/49
Apr/49
BA
14.0
4.2
Sep/15
Nov/14
Apr/49
BA
12.0
3.1
Sep/15
Nov/14
Apr/49
BA
14.0
5.1
Sep/15
Nov/14
Apr/49
BA
29.7
12.9
May/18
Jan/15
Jul/49
BA
21.6
7.8
May/18
Jan/15
Jul/49
BA
20.0
8.5
Jan/16
Nov/14
Jun/49
BA
18.0
4.9
Jan/16
Nov/14
Jun/49
BA
24.0
8.0
May/18
Nov/14
Jun/49
PE
30.0
12.2
Jan/16
Aug/14
Jun/49
PE
30.0
9.9
Jan/16
Aug/14
Jun/49
PE
30.0
11.0
Jan/16
Aug/14
Jun/49
PE
30.0
10.5
Jan/16
Aug/14
Jun/49
UEE Santa
Joana I
PI
30.0
14.7
Jan/16
Jun/14
Jun/49
UEE Santa
Joana III
PI
30.0
14.3
Jan/16
Jun/14
Jun/49
UEE Santa
Joana IV
PI
30.0
14.2
Jan/16
Jun/14
Jun/49
UEE Santa
Joana V
PI
30.0
14.1
Jan/16
Jun/14
Jun/49
UEE Santa
Joana VII
PI
30.0
14.8
Jan/16
Jun/14
Jun/49
UEE Santo
Augusto IV
PI
30.0
15.7
Jan/16
Jun/14
Jun/49
Unit
Joana XII
UEE
Baraúnas I
UEE
Mussambê
UEE Morro
Branco I
UEE Caititú 2
UEE Caititú 3
UEE Teiú 2
UEE Arapapá
UEE Carcará
UEE
Corrupião 3
UEE Acauã
UEE Angical
2
UEE Banda
de Couro
UEE
Baraunas II
UEE
Coqueirinho
2
UEE Papagaio
UEE
Tamanduá
Mirim 2
UEE Serra
das Vacas I
UEE Serra
das Vacas II
UEE Serra
das Vacas III
UEE Serra
das Vacas IV
84
Marketletter
11.1.2.1 SPE
SPE
Unit
Investiment
(R$ million)
Up to
Total
3Q14
Participation
Working
Schedule (%)
(%)
Partners
18,641
17,954,40
95.54
20.00
UHE B. Monte
29,375,00
14,983,60
58.6
15.00
Cia Energética Sinop S.A.
U.E.E. Caiçara I S.A.
U.E.E. Caiçara II S.A.
U.E.E. Junco I S.A.
U.E.E. Junco II S.A.
V. de Santa Joana IX Energia
Renováveis S.A.
V. de Santa Joana X Energia
Renováveis S.A.
V. de Santa Joana XI Energia
Renováveis S.A.
V. de Santa Joana XII Energia
Renováveis S.A.
V. de Santa Joana XIII Energia
Renováveis S.A.
V. de Santa Joana XV Energia
Renováveis S.A.
V. de Santa Joana XVI Energia
Renováveis S.A.
UHE Sinop
UEE Caiçara I
UEE Caiçara II
UEE Junco I
UEE Junco II
1,804.81
134.0
93.3
120.8
120.8
79.6
6.9
4.6
6.7
6.3
10.4
35
35
35
35
24.50
49.00
49.00
49.00
49.00
UEE Santa Joana IX
102.94
58.5
62
49.00
UEE Santa Joana X
102.94
56.5
62
49.00
UEE Santa Joana XI
102.94
51.2
62
49.00
102.94
64.6
62
49.00
102.94
56.6
62
49.00
UEE Santa Joana XV
102.94
77.7
62
49.00
UEE Santa Joana
XVI
102.94
62.4
62
49.00
Baraúnas I Energética S.A.
UEE Baraúnas I
103.95
-
(**)
49.00
Mussambê Energética S.A.
UEE Mussambê
103.95
-
(**)
49.00
UEE Morro Branco I
103.95
-
(**)
49.00
40.16
40.16
40.16
28.69
28.69
40.16
34.42
40.16
74.00
66.60
6.50
6.50
5.20
2.60
6.50
6.50
3.90
6.50
0.41
0.26
(**)
(**)
(**)
(**)
(**)
(**)
(**)
(**)
(**)
(**)
49.00
49.00
49.00
49.00
49.00
49.00
49.00
49.00
49.00
49.00
Mizha Energia
Suez Energy/ Eletrosul
Eletrobras/Eletronorte
Petros/ Belo Monte Part
Amazonas Energia e Outros
Eletronorte/ Alupar
Envolver Participações
Envolver Participações
Envolver Participações
Envolver Participações
Contour Global/ SalusFip/
Ventos de Santa Joana
Contour Global/ SalusFip/
Ventos de Santa Joana
Contour Global/ SalusFip/
Ventos de Santa Joana
Contour Global/ SalusFip/
Ventos de Santa Joana
Contour Global/ SalusFip/
Ventos de Santa Joana
Contour Global/ SalusFip/
Ventos de Santa Joana
Contour Global/ SalusFip/
Ventos de Santa Joana
Brennand Energia S.A./
Brennand Energia Eólica
Brennand Energia S.A./
Brennand Energia Eólica
Brennand Energia S.A./
Brennand Energia Eólica
Sequóia
Sequóia
Sequóia
Sequóia
Sequóia
Sequóia
Sequóia
Sequóia
Sequóia
Sequóia
73.20
0.55
(**)
49.00
Sequóia
75.6
-
(**)
49.00
103.95
-
(**)
49.00
124.4
-
(**)
49.00
PEC Energia
122.6
-
(**)
49.00
PEC Energia
122.6
-
(**)
49.00
PEC Energia
122.6
-
(**)
49.00
ESBR Participações S.A.
UHE Jirau
Norte Energia S.A.
Morro Branco I
Energética S.A.
Caititu 2 Energia S.A.
Caititu 3 Energia S.A.
Teiú 2 Energia S.A.
Arapapá Energia S.A.
Carcará Energia S.A.
Corrupião 3 Energia S.A.
Acauã Energia S.A.
Angical 2 Energia S.A.
Coqueirinho 2 Energia S.A.
Papagaio Energia S.A.
UEE Santa Joana
XII
UEE Santa Joana
XIII
UEE Caititú 2
UEE Caititú 3
UEE Teiú 2
UEE Arapapá
UEE Carcará
UEE Corrupião 3
UEE Acauã
UEE Angical 2
UEE Coqueirinho 2
UEE Papagaio
UEE Tamanduá Mirim
Tamanduá Mirim 2 Energia S.A.
2
Baraúnas II Energética S.A.
UEE Baraunas II
Banda de Couro Energética S.A. UEE Banda de Couro
Eólica Serra das Vacas I S.A.
Eólica Serra das Vacas II S.A.
Eólica Serra das Vacas III S.A.
Eólica Serra das Vacas IV S.A.
V. de Santa Joana
Renováveis S.A.
V. de Santa Joana
Renováveis S.A.
V. de Santa Joana
Renováveis S.A.
V. de Santa Joana
Renováveis S.A.
I Energia
III Energia
IV Energia
V Energia
UEE
I
UEE
II
UEE
III
UEE
IV
Serra das Vacas
Serra das Vacas
Serra das Vacas
Serra das Vacas
UEE Santa Joana I
105.25
17.0
28
49.00
UEE Santa Joana III
105.25
22.3
28
49.00
UEE Santa Joana IV
105.25
13.1
28
49.00
UEE Santa Joana V
105.25
12.9
28
49.00
Brennand Energia/ Brennand
Energia Eólica S.A
Brennand Energia/ Brennand
Energia Eólica S.A
PEC Energia
Contour Global/ SalusFip/
Ventos de Santa Joana
Contour Global/ SalusFip/
Ventos de Santa Joana
Contour Global/ SalusFip/
Ventos de Santa Joana
Contour Global/ SalusFip/
Ventos de Santa Joana
85
Marketletter
SPE
Investiment
(R$ million)
Up to
Total
3Q14
Unit
V. de Santa Joana VII Energia
UEE Santa Joana VII
Renováveis S.A.
V. de Santo Augusto IV Energia UEE Santo Augusto
Renováveis S.A.
IV
Participation
Working
Schedule (%)
(%)
105.25
14.3
28
49.00
105.25
13.0
28
49.00
Partners
Contour Global/ SalusFip/
Ventos de Santa Joana
Contour Global/ SalusFip/
Ventos de Santa Joana
(**) Not started working.
11.2.Transmission
11.2.1.Own assets
11.2.1.1.Transmission lines
Own lines
From - To
LT
LT
LT
LT
LT
LT
LT
LT
LT
LT
LT
LT
LT
LT
LT
LT
LT
LT
LT
LT
LT
LT
230
230
230
230
230
230
230
230
230
230
500
500
230
230
230
230
230
230
230
230
230
230
kV
kV
kV
kV
kV
kV
kV
kV
kV
kV
kV
kV
kV
kV
kV
kV
kV
kV
kV
kV
kV
kV
Eunápolis/Teixeira Freitas II C1
Funil/Itapebi C3
Eunápolis/Teixeira Freitas II C2
Pau Ferro – Santa Rita II
Paraiso/Açu II, C3
Açu/Mossoró II, C2
Sobral III/Acaraú II
Morro do Chapéu II/Irecê
Paraíso/Lagoa Nova II
Teresina II/Teresina III
Recife II/Suape II, C2
Camaçari IV/Sapeaçu
Sapeaçu/Sto.Antonio de Jesus
Jardim/ N Sra do Socorro
Messias/ Maceió II
Camaçari IV/Pirajá
Pituaçú/Pirajá
Mossoró II/ Mossoró IV
Ceará Mirim II/Touros
Russas II/ Banabuiu C2
Igaporã II – Igaporã III C1 e C2
Igaporã III – Pindaí II
Total Investment
(R$ Million)
30,09
41,07
44,15
34,00
59,48
25,87
22,13
33,11
13,76
61,12
84,29
13,60
47,07
81,74
77,50
Extension
of TL
(km)
152
223
152
96,7
123
69
97
65
65
26
44
105
31
1,3
20
45
5
40
56,17
110
4
46
Tension
(kV)
230
230
230
230
kV
kV
kV
kV
230 kV
230
230
230
230
500
500
230
230
230
230
230
230
230
230
230
230
kV
kV
kV
kV
kV
kV
kV
kV
kV
kV
kV
kV
kV
kV
kV
kV
Beginning
of
Operation
End of
Concession
Dec/15
Feb/16
Dec/15
Jan/16
Jul/15
Jul/15
Apr/15
Sep/15
Apr/15
Jul/15
Feb/16
Jan/16
Jan/16
Feb/15
Sep/15
Dec/15
Dec/15
Sep/15
Aug/15
Nov/15
May/15
May/15
Oct/38
Apr/37
Aug/39
Aug/39
Nov/40
Nov/40
Nov/40
Oct/41
Oct/41
Dec/41
Dec/41
Dec/41
Dec/41
May/42
May/42
May/42
May/42
Jun/42
Jun/42
Jun/42
Jun/42
Jun/42
86
Marketletter
11.2.1.2.Substations
Substation
SE
SE
SE
SE
SE
SE
SE
SE
SE
SE
SE
SE
SE
SE
SE
SE
Total
Investment
(R$ million)
230/69 kv Polo
230 kv Morro do Chapéu
230 kv Lagoa Nova
230 kv Ibiapina
230/69 kv Teresina III
230/69 kv N.S. Socorro
230/69 kv Maceió II
230/138 kv Poções II
230/69 kv Pirajá
230/69 kv Mirueira II
230/69 kv Jaboatão II
230 kv Touros
230 kv Mossoró IV
500/230 kv Igaporã III
230 kv Pindaí II
230/138 kV Teixeira de Freitas II
17,18
24,33
Transformation
Capacity (MVA)
100
150
300
200
400
300
400
200
360
300
300
150
100
51,22
29,21
94,43
30,57
68,77
46,18
Location
MVA
MVA
MVA
MVA
MVA
MVA
MVA
MVA
MVA
MVA
MVA
MVA
MVA
BA
BA
RN
CE
PI
SE
AL
BA
BA
PE
RN
Beginning
of
Operation
End of
Concession
Dec/14
Sep/15
Abr/15
Oct/15
Jul/15
Feb/15
Sep/15
May/15
Sep/15
Jan/15
Jan/16
Aug/15
Sep/15
Oct/40
Oct/41
May/42
Oct/41
Dec/41
May/42
May/42
Dec/42
99,44
2,050 MVA
BA
May/15
Jun/42
17,91
100 MVA
BA
Dec/15
Oct/38
11.2.2.SPEs
11.2.2.1.Transmission lines
SPE
TDG
Transmissora
Delmiro Gouveia
S.A.
Extremoz
Transmissora do
Nordeste –ETN
S.A.
Interligação
Elétrica
Garanhuns S.A.
From - To
Participation
(%)
LT São Luiz II/
São Luiz III
49
LT Ceará Mirim
II/João Câmara
III, 500 kV.
LT Ceará Mirim
II/ Campina III,
500 kV.
LT Ceará Mirim
II/ Extremoz II,
230 kV.
LT Campina
Grande
III/Campina
Grande II, 230
kV.
LT Luiz Gonzaga/
Garanhuns, 500
kV
LT Garanhuns/
Campina Grande
III, 500 kv
LT Garanhuns/
Pau Ferro, 500
kV
LT Garanhuns/
Angelim I, 230
kV.
49
49
Total Investment
(R$ million)
Up to 3Q14
Total
(R$ million)
367,9
365,9
548,70
351
63,3
Extension
of lines
(Km)
Tension
(kV)
156
230
64
500
201
500
26
230
8,5
230
224
500
190
500
239
500
13
230
482,00
Beginning
of
Operation
End of
Concession
May/15
Jul/40
Jan/15
Oct/41
Feb/15
Dec/41
87
Marketletter
11.2.2.2.Substations
SPE
Total
Investment
(R$
million)
SE
SE – João Câmara
III,
500/138 kV.
Extremoz Transmissora SE – Campina
do Nordeste – ETN S/A Grande III, 500/230
kV.
SE – Ceará Mirim II,
500/230 kV.
SE – Garanhuns,
500/230 kV
Interligação Elétrica
Garanhus S/A
SE – Pau Ferro,
500/230 kV
Investiment
up to 3Q14
(R$ million)
Transformation
Capacity (kV)
Location
(State)
500/138
RN
500/230
PB
500/230
RN
*
197,0
127,54
81,28
500/230
96,80
60,93
500/230
Balance
06.30.14
Balance
09.30.14
PE
Beginning
of
Operation
End of
Concession
Jan/15
Oct/41
Feb/15
Dec/41
(*) Investiment on SEs aggregated with LTs.
12. Loans and financing – R$ million
Local currency – LC
Creditor
Eletrobras
Eletrobras
Eletrobras
Eletrobras
Eletrobras
Eletrobras
Banco do Brasil
Banco do Nordeste –
Maq/Equip/Benf
Banco do Nordeste – Finame
(PSI-BK)
Caixa Econômica Federal
Total
Balance
03.31.14
Due Date
Index
41,6
0.2
0.2
4.5
0.4
5,0
509,8
39,3
0.2
0.2
4,1
0.4
4,6
510,2
37,0
0,1
0,1
3,7
0,4
4,2
510,9
09/30/2018
05/30/2015
05/30/2016
02/28/2017
12/30/2018
04/30/2016
09/28/2018
5.0% py
5.0% py
5.0% py
5.0% py
IPCA
5.0% py
115% of CDI
270,1
259,3
248,5
06/30/2020
7.5% py
13,5
12,9
12,3
06/15/2020
4.5% py
403,9
1,249.2
404,4
1,235.6
404,3
1,221.5
02/27/2019
115% of CDI
Foreign currency – FC – N/A
88
Marketletter
13.Contracts
13.1.Loans and financing - R$ million
13.1.1.Parent company
Loans and financing
By activity
Generation
Transmission
Energy tradings
By creditor
Eletrobras
Others
2014
2015
2016
2017
2018
29,760
16,045
13,715
-
233,135
178,403
54,732
-
283,025
228,293
54,732
-
280,610
225,878
54,732
-
277,502
225,083
52,419
-
95,473
50,000
45,473
-
2019 After 2019 Total (LC+ FC)
22,087
22,087
-
1,221,592
923,702
297,890
-
3,187
26,573
12,663
220,473
12,552
270,473
10,138
270,473
7,029
270,471
95,473
22,087
45,569
1,176,023
13.1.2.SPE
Sistema de Transmissão Nordeste S.A.
Loans and financing
2014
2015
2016
2017
By activity
Transmission
By creditor
Banco do Nordeste do Brasil
4,5
4,5
4,5
4,5
18,4
18,4
18,4
18,4
19,3
19,3
19,3
19,3
20,4
20,4
20,4
20,4
2018
2019
21,4
21,4
21,4
21,4
After 2019 Total (LC+ FC)
22,5
22,5
22,5
22,5
76,8
76,8
76,8
76,8
183,3
183,3
183,3
183,3
Integração Transmissora de Energia S.A.
Loans and financing
By activity
Transmission
By creditor
BNDES
2014
2015
2016
2017
8,2
8,2
8,2
8,2
30,6
30,6
30,6
30,6
30,6
30,6
30,6
30,6
30,6
30,6
30,6
30,6
2018
2019
30,6
30,6
30,6
30,6
After 2019 Total (LC+ FC)
30,6
30,6
30,6
30,6
25,5
25,5
25,5
25,5
186,7
186,7
186,7
186,7
Manaus Transmissora de Energia S.A.
Loans and financing
By activity
Transmission
By creditor
BNDES
BASA
2014
2015
2016
2017
11,7
11,7
11,7
11,7
-
52,1
52,1
52,1
31,4
20,7
55,6
55,6
55,6
31,5
24,1
56,3
56,3
56,3
31,2
25,1
2018
2019
57,6
57,6
57,6
31,3
26,3
After 2019 Total (LC+ FC)
58,7
58,7
58,7
31,2
27,5
580,3
580,3
580,3
216,0
364,3
872,3
872,3
872,3
384,3
488,0
Interligação Elétrica do Madeira S.A.
Loans and financing
By activity
Transmission
By creditor
BNDES
BASA
BONDS
2014
2015
2016
2017
138,9
138,9
138,9
128,6
10,4
92,5
92,5
92,5
92,5
-
132,8
132,8
132,8
123,3
7,6
1,9
143,5
143,5
143,5
123,3
18,2
1,9
2018
2019
161,0
161,0
161,0
123,3
18,2
19,5
After 2019 Total (LC+ FC)
176,6
176,6
176,6
123,3
18,2
35,1
1.591,4
1.591,4
1.591,4
1.030,9
229,3
331,1
2.297,7
2.297,7
2.297,7
1.616,5
291,6
389,6
Interligação Elétrica Garanhuns S.A.
Loans and financing
By activity
Transmission
By creditor
BNDES
2014
2015
2016
2017
-
27,50
27,50
27,50
27,50
26,71
26,71
26,71
26,71
26,71
26,71
26,71
26,71
2018
26,71
26,71
26,71
26,71
2019
26,71
26,71
26,71
26,71
After 2019
190,87
190,87
190,87
190,87
Total (LC+ FC)
325,20
325,20
325,20
325,20
89
Marketletter
Norte Energia S.A.
Loans and financing
By activity
Generation
By creditor
BNDES
CEF
Others
2014
2015
2016
2017
2018
2019
After 2019
-
-
-
212,0
212,0
212,0
138,0
57,0
16,0
543,0
543,0
543,0
326,0
169,0
49,0
620,0
620,0
620,0
371,0
193,0
55,0
13,616,0
13,616,0
13,616,0
8,127,0
4,270,0
1,220,0
Total (LC+ FC)
14,991,0
14,991,0
14,991,0
8,962,0
4,689,0
1,340,0
ESBR Participações S.A.
Loans and financing
By activity
Generation
By creditor
Banco do Nordeste do Brasil
Banco do Brasil
BNDES
Banco Itaú BBA
CEF
Bradesco
2014
2015
2016
2017
2018
2019 After 2019 Total (LC+ FC)
187,1
187,1
187,1
4,1
26,5
93,1
17,9
26,5
19,1
561,2
561,2
561,2
12,3
79,4
279,4
53,6
79,4
57,2
561,2
561,2
561,2
12,3
79,4
279,4
53,6
79,4
57,2
561,2
561,2
561,2
12,3
79,4
279,4
53,6
79,4
57,2
561,2
561,2
561,2
12,3
79,4
279,4
53,6
79,4
57,2
561,2
561,2
561,2
12,3
79,4
279,4
53,6
79,4
57,2
8,231,3
8,231,3
8,231,3
180,2
1,164,3
4,098,3
785,9
1,164,3
838,3
11,224,6
11,224,6
11,224,6
245,7
1,587,7
5,588,6
1,071,7
1,587,7
1,143,2
After 2019
Total (LC+ FC)
Energética Águas da Pedra S.A.
Loans and financing
By activity
Generation
By creditor
BNDES
2014
2015
2016
2017
2018
2019
8,5
8,5
8,5
8,5
34,0
34,0
34,0
34,0
34,0
34,0
34,0
34,0
33,7
33,7
33,7
33,7
33,4
33,4
33,4
33,4
33,4
33,4
33,4
33,4
235,9
235,9
235,9
235,9
412,9
412,9
412,9
412,9
Transmissora Delmiro Gouveia S.A.
Loans and financing
By activity
Transmission
By creditor
Banco do Nordeste do Brasil
2014
2015
2016
2017
2018
154
154
154
154
-
-
-
-
2019 After 2019 Total (LC+ FC)
-
-
154,0
154,0
154,0
154,0
São Pedro do Lago S.A.
Loans and financing
By activity
Generation
By creditor
BNDES
2014
2015
2016
2017
2018
2019
1,3
1,3
1,3
1,3
5,0
5,0
5,0
5,0
5,0
5,0
5,0
5,0
5,0
5,0
5,0
5,0
5,0
5,0
5,0
5,0
5,0
5,0
5,0
5,0
2014
2015
2016
2017
2018
2019
1,2
1,2
1,2
1,2
4,9
4,9
4,9
4,9
4,9
4,9
4,9
4,9
4,9
4,9
4,9
4,9
4,9
4,9
4,9
4,9
4,9
4,9
4,9
4,9
After 2019 Total (LC+ FC)
49,5
49,5
49,5
49,5
75,8
75,8
75,8
75,8
Pedra Branca S.A.
Loans and financing
By activity
Generation
By creditor
BNDES
After 2019 Total (LC+ FC)
47,9
47,9
47,9
47,9
73,6
73,6
73,6
73,6
90
Marketletter
Sete Gameleiras S.A.
Loans and financing
By activity
Generation
By creditor
BNDES
2014
2015
2016
2017
2018
1,2
1,2
1,2
1,2
4,9
4,9
4,9
4,9
4,9
4,9
4,9
4,9
4,9
4,9
4,9
4,9
4,9
4,9
4,9
4,9
2014
2015
2016
2017
2018
42,2
42,2
42,2
42,2
-
-
-
-
2019
After
2019
Total (LC+
FC)
4,9
4,9
4,9
4,9
48,1
48,1
48,1
48,1
73,8
73,8
73,8
73,8
2019
After
2019
Total
(LC+ FC)
-
-
42,2
42,2
42,2
42,2
Santa Joana IX
Loans and financing
By activity
Generation
By creditor
BNDES
Santa Joana X
Loans and financing
By activity
Generation
By creditor
BNDES
2014
2015
2016
2017
2018
43,3
43,3
43,3
43,3
-
-
-
-
2014
2015
2016
2017
2018
42,5
42,5
42,5
42,5
-
-
-
-
2014
2015
2016
2017
2018
50,8
50,8
50,8
50,8
-
-
-
-
2014
2015
2016
2017
2018
42,8
42,8
42,8
42,8
-
-
-
-
2019
After
2019
Total (LC+
FC)
-
-
43,3
43,3
43,3
43,3
2019
After
2019
Total
(LC+ FC)
-
-
42,5
42,5
42,5
42,5
2019
After
2019
Total
(LC+ FC)
-
-
50,8
50,8
50,8
50,8
2019
After
2019
Total
(LC+ FC)
-
-
42,8
42,8
42,8
42,8
2019
After
2019
Total (LC+
FC)
-
47,6
47,6
47,6
47,6
Santa Joana XI
Loans and financing
By activity
Generation
By creditor
BNDES
Santa Joana XII
Loans and financing
By activity
Generation
By creditor
BNDES
Santa Joana XIII
Loans and financing
By activity
Generation
By creditor
BNDES
Santa Joana XV
Loans and financing
By activity
Generation
By creditor
BNDES
2014
2015
2016
2017
47,6
47,6
47,6
47,6
-
-
-
2018
-
-
91
Marketletter
Santa Joana XVI
Loans and financing
By activity
Generation
By creditor
BNDES
14.Number of employees
2014
2015
2016
2017
2018
50,4
50,4
50,4
50,4
-
-
-
-
2019 After 2019
-
-
Total (LC+ FC)
50,4
50,4
50,4
50,4
(including requested employees from other Eletrobras companies/ excluding employees assigned to other
Eletrobras companies)
14.1.By tenure
Generation
Composition of employees by tenure (Years)
Up to 5
6 to 10
11 to15
16 to 20
21 to 25
Beyond 25
Total
1Q14
2Q14
3Q14
155
105
120
7
1
382
770
159
124
102
25
383
793
159
106
123
25
384
797
1Q14
2Q14
3Q14
422
208
278
31
736
1,675
494
224
251
65
742
1,776
495
185
289
65
740
1,774
1Q14
2Q14
3Q14
389
252
157
16
3
1,175
1,992
391
281
155
18
2
1,168
2,015
391
248
188
18
1
1,163
2,009
Transmission
Composition of employees by tenure (Years)
Up to 5
6 to 10
11 to15
16 to 20
21 to 25
Beyond 25
Total
Administration
Composition of employees by tenure (Years)
Up to 5
6 to 10
11 to15
16 to 20
21 to 25
Beyond 25
Total
14.2.By region
State
Bahia
Pernambuco
Ceará
Piauí
1Q14
1,663
2,189
316
269
Number of employees
2Q14
1,698
2,289
323
274
3Q14
1,691
2,291
324
274
14.3.By departments
Department
Field
Administrative
1Q14
Number of employees
2Q14
3Q14
2,953
1,484
3,070
1,514
3,071
1,509
92
Marketletter
14.Complementary work force – N/A
15.Turn-over - %
1Q14
2Q14
3Q14
0.64
1.82
0.15
93
Marketletter
Balance Sheet
(R$ thousand)
Financial Statements for Consolidation Purposes
Assets
Current Assets
Availabilities
Clients (Consumers and resellers)
Loans and financing - principal
Marketable Securities
Dividends to receive (Remuneration of equity participation)
Fiscal Assets deferred (Taxes and contributions)
Income Tax and Social Contribution
Derivatives
Reimbursement Rights - CCC (12,111 law)
Linked deposits
Stored materials
Financial Asset
Receivables - 12,783/13 Law
Others
Current Assets Total
.
Non-Current Assets
Clients (Consumers and resellers)
Loans and financing - principal
Marketable Securities
Fiscal Assets deferred (Taxes and contributions)
Income Tax and Social Contribution
Derivatives
Reimbursement Rights - CCC (12,111 Law)
Linked deposits
Financial Asset – Annual allowed Revenue (transmission)
Receivables - 12,783/13 Law
Others
Advances for equity participation
INVESTMENTS
FIXED ASSETS
INTANGIBLE
Non-Current Assets Total
Assets Total
Consolidated
09.30.14
09.30.13
356,392
901,867
126,026
1,870,914
49,642
85,213
137,895
61,735
310,278
373,178
159,486
4,432,626
474,955
846,874
104,757
1,603,721
252,395
108,944
144,325
63,741
276,094
331,364
54,494
4,261,664
15,430
220
17,164
145,052
237,948
404,582
4,251,021
1,363,730
398,669
6,833,816
2,526,331
7,532,204
18,776
16,911,127
21,343,753
173,932
205
104,597
113,244
280,838
4,088,044
276,137
1,321,743
21,162
6,379,902
2,008,597
8,039,198
25,521
16,453,218
20,714,882
94
Marketletter
Liabilities and Stockholders’ Equity
Consolidated
09.30.14
09.30.13
Current Liabilities
Suppliers
Loans and financing
Bonds
Taxes and social contribution
Income Tax and Social Contribution
Derivative financial instruments
Advances from consumers
Shareholders remuneration (dividends payable)
Estimated obligations
Provisions for contingencies
Post-emplyment benefit (Complementary Pension Fund)
Onerous Contracts
Concessions to pay - UBP
Sector charges (regulatory taxes)
Incentive to personnel retirement
Others
Current Liabilities Total
822,439
520,889
19,065
58,148
223,816
52,813
211
237,927
3,066
297,465
187,677
2,423,516
418,356
507,707
2,058
67,539
185,031
48,910
685
310,544
276,837
161,080
152,004
2,130,751
Non-Current Liabilities
Suppliers
Loans and financing
Bonds
Taxes and social contribution
Income Tax and Social Contribution
Derivative
Advances from consumers
Estimated obligations
Provisions for contingencies
Provision for onerous contract
Post-Employment benefit (Complementary Pension Fund)
Sectorial Charges (regulatory taxes)
Advance for future Capital Increase
Incentive to personnel retirement
Others
Non-Current Liabilities Total
193,842
3,917,865
207,466
23,798
213,621
732,353
2,051
533,335
85,860
68,822
12,984
66,107
6,058,104
4,525,699
209,322
106,128
113,244
789,318
553,709
20,295
52,312
19,564
231,477
39,061
72,502
6,732,631
Stockholders’ Equity
Social Capital
Capital reserves
Profit reserves
Additional dividends proposed
Accrued profit/losses
Other comprehensive income
Non-controlling participation
11,563,279
126,605
1,232,225
-59,976
-
9,326,355
2,011,460
563,522
-49,837
-
Stockholders’ Equity Total
12,862,133
11,851,500
Liabilities and Stockholders’ Equity Total
21,343,753
20,714,882
95
Marketletter
Statement of Income by activity
(R$ thousand)
Consolidated
09.30.14
09.30.13
Operating Revenue
Generation
Plant Supply
Energy Supply
Short term electric Energy
O&M Revenue of Renewed Plants
Construction Plant Revenue
Return on Investment - G
2,522,264
1,004,725
950,632
12,065
-
1,793,474
1,053,669
428,260
9,713
-
286,781
-8,727
139,410
104,473
167,588
202,143
239,110
116,102
175,226
-650,089
4,529,122
-533,555
3,484,142
-1,048,216
-396,571
-35,213
-139,410
-55,511
-413,754
-10,064
-239,110
-989,162
-195,241
-334,133
-590
-4,909
-87,266
-3,230,711
-1,082,854
-176,045
-337,173
-2,126
566,994
-105,545
-1,855,188
Result of equity participation
Operating Result before Financial Result
48,031
1,346,442
24,044
1,652,998
Financial Result
Result before Income Tax / Social Contribution
-30,190
1,316,252
-380,589
1,272,409
Current Income Tax and and social contribution
Deferred Income Tax and and social contribution
Net income for the period
-77,996
-6,031
1,232,225
-17,917
-2,998
1,251,494
Transmission
O&M Revenue Renewed Lines
O&M Revenue
Construction Revenue – Transmission
Return on Investment - T
Other Operating Revenue
Deductions to Operating Revenue
Net Operating Revenue
Operating Costs
Electric Energy purchased for resale
Charges on the use of electric grid
Fuel for production of Electric Energy
Construction costs
Operating Expenses
Personnel, Material and Third part related services
Remuneration and reimbursement
Depreciation and amortization
Donations and Contributions
Provisions
Others
Operating Costs and Expenses
96
Marketletter
Cash Flow
(R$ thousand)
Cash Flow
09.30.2014
09.30.2013
OPERATING ACTIVITIES
Profit/Loss before income tax and social contribution
Depreciation and amortization
Net monetary and currency variations
Financial charges
Equity Equivalency Result
Provision for uncovered liability
Provision for credits of questionable liquidation
Provision for contingencies
Provision for staff realignment
Impairment
Global reversal reserve charges
Adjustment to present value / market value
Minority Participation in the Results
Charges on shareholders funds
Revenue of financing assets - IRR
Derivative financial instruments
Others
Variation in operating assets / liabilities
Cash generated in operating activities
1,316,252
339,978
40,587
248,606
-48,031
2,980
-54,999
-104,473
-40,416
-15,758
462,007
2,146,733
1,299,648
337,173
18,486
298,885
-24,044
-689,023
47,621
-100,546
24,254
-116,102
140,321
-42,703
-495,909
698,061
Financial charges paid
Payment of global reversal reserve charges
Financial charges received
Remuneration received from equity participation
Financial asset revenue by RAP
Receiving compensation for financial asset
Payment of income tax and social contribution
Payment of pension fund
Lawsuits payment
Legal deposits
Net cash operating activities
-216,223
14,881
161,704
227,939
-70,756
-4,242
-71,613
2,188,423
-286,327
32,416
108,617
1,212,179
-9,692
255,674
2,010,928
FINANCING ACTIVITIES
Loans and financing obtained
Loans and financing payable – principal
Payment of Shareholders remuneration
Payment on refinancing of taxes and contributions - Principal
Receipt of Advance for future Capital Increase
Others
Net financing activities
36,762
-658,302
-406,535
-1,028,075
128,345
-778,299
139,500
-510,454
INVESTMENT ACTIVITIES
Receiving of loans and Financing
Acquisition of fixed asset
Acquisition of intangible asset
Acquisition of Concession asset
Advance for future capital increase
Acquisition of equity participation
Others
Net cash investment activities
-126,026
-72,221
-250
-139,410
-346,714
-392,952
-121,707
-1,199,280
-60,842
-239,110
-21,162
-246,537
-851,502
-1,419,153
-38,932
81,321
395,324
356,392
-38,932
295,154
376,475
81,321
Increase (decrease) in cash and cash equivalent
Cash and cash equivalent – beginning of period – 12/31/12
Cash and cash equivalent – end of period – 03/31/13
97
Marketletter
Analysis of the results
3Q14 x 2Q14
In 3Q14 the Company presented a net profit 171.5% lower than the registered in 2Q14, from a profit of R$ 434.4 million to a loss of R4 310.6
million, due to the factors described below.
Operating Revenue
In Generation:
The electric energy supply for final clients showed a reduction of 3.7%, from R$ 317.8 million in 2Q14 to R$ 306.1 million in 3Q14 due mainly to
the reduction in supply demand related to the previous quarter.
The electric energy supply for distribution companies presented an increase of 10.5%, from R$ 856.6 million in 2Q14 to R$ 946.5 million in 3Q14,
mainly due to the increase in demand.
The elecric energy traded in the short-term market presented reduction of 98.4%, from R$ 105.9 million in 2Q14 to R$ 1.7 million in 3Q14, due
mainly the company pass from seller to buyer position in short-term energy market.
In Transmission
The financial asset remuneration presented increase of 624%, from R$ 6,8 million in 2Q14 to R$ 49.2 million in 3Q14, due mainly to the revenue
incorporation of controlled companies Estação Transmissora de Energia S/A and Rio Branco Transmissora de Energia S/A.
The revenue of operation and maintenance of renewed lines increased by 60.2%, from R$ 79.8 million in 2Q14 to R$ 127.8 million in 3Q14,
mainly due to re-adjustment by IPCA and the receipt of overdue installments.
Operating Expenses
Personnel expenses, materials and third party services decreased by 0.9%, from R$ (336.8) million in 2Q14 to R$ (333.6) million in 3Q14,
causing no significant impact in result.
The electric energy purchased for resale increased by 775.8%, from R$ (105.1) million in 2Q14 to R$ (920.3) million in 3Q14, primarily due to
increased in purchasing power, reflecting the negative determination in the CCEE settlement.
The operating provisions and reversals decreased by 136.2%, from a provision in 2Q14 to a reversal in 3T14, mainly due to the reversal of the
provision of credit held in 2Q14 in Boa Vista Energia.
Financial Result
The others financial income decreased by 69.4%, from R$ 73.1 million in 2Q14 to R$ 22.3 million in 3Q14, mainly due to the negative variation of
R$ 7 million in derivatives and that in the previous quarter had registered R$ 47 million in positive result.
The other financial expenses increased 414%, from R$ 2.3 million in 2Q14 to R$ 12 million in 3Q14, not impacting the result significantly.
The net exchange variations reduced by 87%, from R$ 16.4 million in 2Q14 to R$ 2.1 million in 3Q14, mainly due to foreign exchange contracts
with Eletrobras, which generated net forward exchange differences resulting from the fluctuation of value of the currency.
The remuneration of the indemnities of the 12,783/13 Law showed an increase of 212.8%, from R$ 14.2 million in 2Q14 to R$ 44.6 million in
3Q14, mainly due to the recognition in the August 2014 of interest and penalties in the amount of R$ 27 million related to adjustments to
calculation of the previous months of 2014.
Equity Participations
The result from equity investments decreased by 133.8%, from R$ 31.2 million in 2Q14 to R$ 10.6 million in 3Q14, mainly due to the decrease in
income from equity of Eletronorte on their investments in SPEs.
98
Marketletter
Market Data
1.Generation Assets and Energy generated
1.1.Own assets
Guaranteed
Energy
(MW
Average)
Installed
Capacity
(MW)
Unit
UHE Coaracy Nunes
Complexo de Tucuruí
UHE Samuel
UHE Curuá-Una
UTE Rio Madeira
UTE Santana
UTE Rio Branco I
UTE Rio Branco II
UTE Rio Acre
UTE - Santarém
UTE Senador Arnon Afonso Farias de Mello
Ceded to Boa Vista Energia on 02/10/2010
TOTAL
78,00
8,535,00
216,75
30,30
119,35
177,74
18,65
32,75
45,49
10
4,140,00
92,70
24,00
-
85,99
-
9,350,02
Location
(State)
Unit
UHE Coaracy Nunes
Complexo de Tucuruí
UHE Samuel
UHE Curuá-Una
UTE Rio Madeira
UTE Santana
UTE Rio Branco I
UTE Rio Branco II
UTE Rio Acre
AP
PA
RO
PA
RO
AP
AC
AC
AC
UTE Senador Arnon Afonso Farias de Mello
RR
Ceded to Boa Vista Energia since feb 10th 2010
UTE – Santarém
PA
Energy Generated (MWh)
1Q14
2Q14
145,249.77
14,108,384.77
304,096.87
63,782.61
0.00
145,179.09
-
3Q14
168,302.02
12,954,494.23
287,107.32
50,642.72
0.00
143,254.91
-
169,210.70
7,772,229.19
147,362.38
43,716.49
182,490.85
14,468
2,765,213
-
-
-
14,776,693.11
13,603,801.20
8,317,789.29
Beginning of Operation
End of Operation
Oct/75
Nov/84
Jul/89
Jul/77
Apr/68
Jan/93
Feb/98
Apr/81
Apr/94
1ª Unit (mac. 2) Dec/90;
2ª Unit (mac. 1) Jun/91;
3ª Unit (mac. 3) Dec/93
Jun/14
Dec/42
Jul/24
Sep/29
Jul/28
Sep/18
May/19
Jul/20
Jul/20
Oct/18
Aug/24
Jun/34
1.2.SPE
SPE
EAPSA - Energia Águas Da
Pedra S.A.
AAmapari Energia S.A.
Unit
Installed
Capacity
(MW)
Energy
Guaranteed
(MW Avg)
Energy Generated (MWh)
1Q14
2Q14
3Q14
UHE Dardanelos
261
154.9
544,046.35
465,653.50
98,142.47
UTE Serra do Navio
23.28
21.00
32,592.85
4,091.86
379.46
68.47
22.8
43,316.00
30,074.00
59,361.00
58.45
21.9
22,572.00
23,435.00
46,517.00
60.12
21.1
37,238.00
30,122.00
55,427.00
Brasventos Miassaba 3
Parque Eólico Miassaba 3
Geradora de Energia S.A
Brasventos Eolo Geradora de
Parque Eólico Rei dos Ventos 1
Energia S.A.
Rei dos Ventos 3 Geradora de
Parque Eólico Rei dos Ventos 3
Energia S.A.
99
Marketletter
Participation
(%)
Unit
EAPSA - Energia Águas da Pedra
S.A. UHE Dardanelos
Amapari Energia S.A.
UTE Serra do Navio
Brasventos Miassaba 3 Geradora
de Energia S.A
Brasventos Eolo Geradora de
Energia S.A.
Rei dos Ventos 3 Geradora de
Energia S.A.
Location
(State)
Beginning of
Operation
End of Operation
24.5
MT
Aug/11
Jul/42
(35 years)
49.00
AP
Jun/08
May/37
24.50
RN
May/14
24.50
RN
May/14
24.50
RN
May/14
1Q14
2Q14
3Q14
209,440,8
22,8
209,440,8
22,8
674,258,9
105,0
674,258,9
105,0
870,257,3
920,4
870,257,3
920,4
Unit
1Q14
2Q14
3Q14
MWh
R$ million
MWh
R$ million
MWh
R$ million
-
Aug/45
(35 years)
Dec/45
(35 years)
Dec/45
(35 years)
2.Electric energy purchased for resale
2.1.Own assets
System
Unit
MWh
R$ million
MWh
R$ million
MWh
R$ million
Eletrobras
Others
Total
2.2.SPE
System
Eletrobras
Others
Total
7,830,21
4,84
7,830,21
4,84
29,645,69
17,72
29,645,69
17,72
3.Energy sold
3.1.Own assets
3.1.1. Energy sold by enterprises not affected by 12,783 law
Buyer
Eletrobras System
Others
Total
Sale model
A
B
A
B
A
B
1Q14
R$ million
MWh
44,95
61,86
461,78
506,62
506,73
568,48
328,537.51
321,160.48
3,452,536.20
4,467,064.95
3,781,073.71
4,788,225.43
2Q14
R$ million
MWh
52,89
105,21
528,91
475,91
581,80
581,11
337,605.76
562,303.07
3,561,840.51
4,092,407.48
3,899,446.26
4,654,710.56
3Q14
R$ million
51,09
82,56
611,71
475,20
662,80
557,75
MWh
350,863.75
452,304.27
3,905,936.86
4,047,545.77
4,256,800.61
4,499,850.05
A – Energy sale in regulated enviroment – Revenue not from quotas.
B - Through free market agreements or bilateral contracts
100
Marketletter
3.1.2. Energy sold by enterprises affected by 12,783 law – O&M
Buyer
Sale model
1Q14
R$ million
A
B
A
B
A
B
Eletrobras System
Others
Total
18,19
18,19
2Q14
R$ million
MWh
MWh
290,130.68
290,130.68
17,76
17,76
3Q14
R$ million
MWh
309,242.93
309,242.93
22,34
22,34
348,928,96
348,928,96
A – Energy sale in regulated enviroment – Revenue from quotas.
B - Through free market agreements or bilateral contracts
3.2.SPE
Buyer
Sale model
A
Eletrobras System
Unit
1Q14
R$ Million
MWh
R$ Million
MWh
R$ Million
MWh
R$ Million
MWh
R$ Million
MWh
R$ Million
MWh
B
A
Others
B
A
Total
B
52,70
327,333.00
81,38
134,271.73
52,70
327,333.00
81,38
134,271.73
2Q14
3Q14
50,20
306,799.00
41,86
87,284.48
50,20
306,799.00
41,86
87,284.48
52,90
315,136.37
37,43
140,211.43
52,90
315,136.37
37,43
140,211.43
4.CCEE settlement (Spot and MRE)
Unit
R$ Million
MWh
MWaverage
R$ Million
MWh
MWaverage
R$ Million
MWh
MWaverage
Sale
Purchase
Net
1Q14*
893,56
6,018,995,09
2,785,28
204,42
399,401,06
184,82
689,14
5,619,594,03
2,600,46
2Q14
3Q14
336,01
5,334,105,98
2,442,35
323,32
868,804,44
397,8
12,69
4,465,301,54
2,044,55
228,64
1,142,108,64
517,26
866,07
1,754,864,33
794,78
-637,43
-612,755,69
-277,52
(*) changed in order of the sale made to CCEE and the liquidation CCEE – (Spot and MRE), that previously considered amounts forecasted for March
5.Fuel for production of electric energy
Type
Unit
litre
R$ Million
Diesel oil
1Q14
40,244,000
98,597,627.50
2Q14
39,932,000
98,717,873.60
3Q14
51,706,000
131,026,436.90
6.Losses in generation - %
1Q14
2Q14
3Q14
0.07
0.88
1.06
101
Marketletter
7.Average price– R$/MWh
7.1.Own assets – enterprises not affected by 12,783 law
1Q14(*)
2Q14
3Q14
125.47
135.94
139.39
(*) changed in order to the sale made to CGTEE and the liquidation CCEE – (Spot and MRE) that previously considered amounts forecasted for March
7.1.1 Own Assets – enterprises renewed in terms of the 12,783 law – O&M
1Q14
2Q14
3Q14
62.68
57.44
64.04
(*) changed in order to the sale made to CGTEE and the liquidation CCEE – (Spot and MRE) that previously considered amounts forecasted for March
7.2.SPE
SPE
EAPSA
Amapari
Miassaba 3
Eolo
Rei dos Ventos
1Q14
2Q14
3Q14
160.48
517.97
603.77
677.83
620.33
163.68
2,506.67
383.87
372.35
377.56
168.10
24,846.96
199.48
200.40
200.79
8.Extension of transmission lines - Km
8.1.Own assets
8.1.1.Transmission line
8.1.1.1. Transmission Lines – enterprises not affected by 12,783 law
From - To
Extension
(km)
Isolated System
Isolated System Total
Interconnected System
São Luiz II - São Luiz III
Ribeiro Gonçalves - Balsas
Porto Velho - Abunã - C2
Abunã - Rio Branco - C2
Lechuga/Jorge Teixeira – C1
Lechuga/Jorge Teixeira – C2
35.94
95.00
188.00
302.00
29.54
29.54
Sub-Total 230 kV
Interconnected System Total
Isolated System + Interconnected
680.02
680.02
680.02
Tension
(kV)
Beginning of Operation
End of Concession
May/10
Dec/11
Feb/14
Jan/14
Feb/14
Feb/14
Mar/38
Jan/39
Nov/39
Nov/39
Jul/40
Jul/40
0.00
0.00
230
230
230
230
230
230
102
Marketletter
8.1.1.2. Transmission Line – enterpises renewd in terms of the 12,783 law – O&M
From -To
Isolated System
Boa Vista- Santa Elena
Sub-Total 230 kV
Coaracy Nunes - Santana - C1
Coaracy Nunes - Santana - C2
Santana - Portuária
Coaracy Nunes - Tartarugalzinho
Sub-Total 138 kV
Santana - Macapá II
Santana - Equatorial
Tartarugalzinho - Calçoene
Tartarugalzinho - Amapá
Santana - Santa Rita
Equatorial - Santa Rita
Sub-Total 69 kV
Isolated System Total
Interconnected System
Colinas - Miracema
Imperatriz - Colinas
Imperatriz – Marabá - C1
Imperatriz – Marabá - C2
Tucuruí – Marabá – C1
Tucuruí – Marabá – C2
Tucuruí - Vila do Conde
Tucuruí (Usina) - Tucuruí (Se)
Pres. Dutra - Boa Esparança
Imperatriz - Pres. Dutra - C1
Imperatriz - Pres. Dutra - C2
Miranda II - S.Antonio dos Lopes
S.Antonio dos Lopes - Pres. Dutra
Miranda II - Pres. Dutra – C2
São Luiz II - Miranda II – C1
São Luiz II - Miranda II – C2
Sub-Total 500 kV
Altamira - Rurópolis
Guamá - Utinga - C1
Guamá - Utinga - C2
Tucuruí - Altamira
Utinga - Castanhal
Castanhal - Santa Maria
Vila do Conde - Guamá - C1
Vila do Conde - Guamá - C2
Marabá - Carajás
Carajás – Integradora - C1
Carajás – Integradora - C2
Carajás – Integradora - C3
Imperatriz - Porto Franco
São Luiz II - Miranda II
São Luiz II - São Luiz I - C1
São Luiz II - São Luiz I – C2
Miranda II - Peritoró
Pres. Dutra - Peritoró
Peritoró - Coelho Neto
Coelho Neto - Teresina
São Luiz II - UTE São Luiz
Barra Peixe – Rondonópolis – C1
Rondonópolis - Coxipó - C1
Rondonópolis - Coxipó - C2
Coxipó - Nobres
Nobres – Nova Mutum - C1
Nova Mutum – Lucas do Rio Verde - C1
Lucas do rio Verde - Sorriso C-1
Sinop - Sorriso C-1
Barra Peixe – Rondonópolis – C2
Extension
(km)
Tension
(kV)
Beginning of Operation
End of Concession
190.20
190.20
108.00
109.00
4.00
87.00
308.00
20.00
13.00
130.00
17.00
12.60
5.09
197.69
695.89
230
Jun/01
Dec/42
138
138
138
138
Oct/75
Feb/05
Apr/96
Jun/00
Dec/42
Dec/42
Dec/42
Dec/42
69
69
69
69
69
69
Nov/96
Aug/00
Dec/01
Feb/02
Dec/07
Sep/08
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
173.97
342.60
181.09
181.82
222.14
221.70
327.10
10.71
205.39
386.60
385.30
142.60
52.90
195.80
106.80
106.80
500
500
500
500
500
500
500
500
500
500
500
500
500
500
500
500
500
500
230
230
230
230
230
230
230
230
230
230
230
230
230
230
230
230
230
230
230
230
230
230
230
230
230
230
230
230
230
230
Mar/99
Mar/99
Apr/81
Mar/88
Oct/81
Feb/88
Dec/81
Nov/84 to May/05
Jan/00
Oct/82
Jan/00
nov/10
nov/10
mar/86
jul/84
mar/86
nov/10
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Jul/24
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Oct/88
Dec/81
Dec/81
Jun/98
Dec/94
Dec/94
Apr/81
Dec/82
Oct/04
Aug/08
Aug/13
Aug/13
Oct/94
Nov/02
Jan/83
Sep/88
Dec/02
Mar/03
Jul/06
Sep/06
Jan/82
Oct/97
Sep/88
Jul/84
Sep/96
Sep/96
Sep/96
Sep/96
Sep/96
Mar/08
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
3,243.32
330.02
19.40
19.40
317.60
69.27
25.04
49.30
49.30
145.00
83.00
85.35
85.35
110.10
105.30
18.60
19.00
94.20
115.00
223.00
127.10
0.05
217.00
187.80
187.80
112.41
104.57
93.80
52.50
86.43
216.79
103
Marketletter
From -To
Rio Verde (C. Magalhães) –
Rondonópolis
Jauru - Coxipó - C1
Jauru - Coxipó - C2
Abunã - Rio Branco
Ariquemes - Jarú
Jarú - Ji-Paraná
Samuel - Ariquemes
Samuel - Porto Velho – C1
Samuel - Porto Velho – C2
Samuel (Usina) - Samuel (SE)
Porto Velho - Abunã
Ji-Paraná - Pimenta Bueno
Pimenta Bueno – Vilhena
Sub-Total 230 kV
Tucuruí-Vila - Cametá
Curuá-Uma - Tapajós-Celpa
Coxipó - São Tadeu
São Tadeu - Jaciara
Jaciara - Rondonopolis-Cemat
Couto Magalhães - Rondonopolis-Cemat
Sub-Total 138 kV
Tucuruí - Tucuruí Vila
Tucuruí (Usina) - Tucuruí (SE)
Tucuruí (Usina) - Tucuruí (SE)
Sub-Total 69 kV
Interconnected System Total
Total
General Total
Extension
(km)
Tension
(kV)
Beginning of Operation
End of Concession
177.83
230
Jul/83
Dec/42
230
230
230
230
230
230
230
230
230
230
230
230
Jun/03
Jun/03
Nov/02
Sep/94
Sep/94
Aug/94
Jul/89
Jul/89
Jul/89
May/02
Jun/08
Oct/08
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Sep/29
Dec/42
Dec/42
Dec/42
138
138
138
138
138
138
Aug/98
Jan/06
Jul/81
Jul/81
Jul/81
Apr/81
Dec/42
Jul/28
Dec/42
Dec/42
Dec/42
Dec/42
69
69
69
Jul/97
Jan/80
Dec/85
Dec/42
Dec/42
Dec/42
366.00
366.00
302.00
83.82
80.69
151.60
40.55
40.55
2.85
188.00
117.80
160.20
5,427.37
214.21
68.80
44.17
77.92
70.00
176.00
651.10
2.30
1.40
1.40
5.10
9,326.89
10,022.78
10,702.80
8.1.2.Substation
8.1.2.1. Substation – enterprises not affected by 12,783 law
Substation
Ribeiro Gonçalves
Balsas
São Luis III
Miranda II (ATR1)
Lucas do Rio Verde (Só Autotrafo)
Nobres
Total
SPE
Energy transmitter station S.A.
(Shared transferred to Eletrobrás
Eletronorte- Ordinance ANEEL 3532,
of 11/23/2010)
Transformation
Capacity (MVA)
350.00
100.00
300.30
450.00
75.00
200.00
1,475.30
Substation
Converter Station 01
CA/CC, 500/±600 KV and
to Inverter Station 01
CC/CA,
±600/500 kV
Location
Beginning of
Operation
End of Operation
Maranhão
Maranhão
Maranhão
Maranhão
Mato Grosso
Mato Grosso
Dec/11
Dec/11
May/10
Nov/10
Apr/13
Sep/13
Jan/39
Jan/39
Mar/38
Jan/39
Jun/41
Dec/41
Transformation
Capacity (MVA)
Participation
(%)
Beginning
of
Operation
7,295.20
100.00
Mar/13
End of
Operation
Feb/39
104
Marketletter
8.1.2.2. Substation – enterprises renewed in terms of 12,783 law – O&M
Substation
Transformation
Capacity (MVA)
Altamira
Cametá
Carajás
Guamá
Marabá
Rurópolis
Santa Maria
Tucuruí
Transamazônica
Tucuruí-Vila
Utinga
Vila do Conde
São Luis I
São Luis II
Miranda II
Peritoró
Presidente Dutra
Coelho Neto
Imperatriz
Porto Franco
Colinas
Miracema
Barra do peixe
Couto Magalhães
Coxipó
Jauru
Nova Mutum
Rondonopolis
Sinop
Sorriso
Epitaciolândia
Sena Madureira
Rio Branco
Ariquemes
Ji-Paraná
Porto Velho
Abunã
Samuel
Pimenta Bueno
Vilhena
Jaru
Coaracy Nunes
Portuária
Amapá
Tartarugalzinho
Calçoene
Santana
Santa Rita
Equatorial
Macapá II
Boa Vista
Total
120.30
23.55
0.30
454.00
1,063.80
200.60
500.15
619.00
60.30
58.44
602.00
3,549.40
401.73
2,829.00
500.60
300.11
721.03
130.00
1,842.17
266.50
1.50
362.50
150.60
15.11
571.20
600.45
60.60
200.90
356.00
60.60
22.10
18.75
422.95
120.30
380.60
525.60
110.60
0.30
110.60
120.60
30.15
40.08
20.05
10.08
40.22
10.08
120.45
80.03
79.95
53.43
201.65
19,140.99
General Total
20,616.29
Location
Beginning of
Operation
End of Operation
Pará
Pará
Pará
Pará
Pará
Pará
Pará
Pará
Pará
Pará
Pará
Pará
Maranhão
Maranhão
Maranhão
Maranhão
Maranhão
Maranhão
Maranhão
Maranhão
Tocantins
Tocantins
Mato Grosso
Mato Grosso
Mato Grosso
Mato Grosso
Mato Grosso
Mato Grosso
Mato Grosso
Mato Grosso
Acre
Acre
Acre
Rondônia
Rondônia
Rondônia
Rondônia
Rondônia
Rondônia
Rondônia
Rondônia
Amapá
Amapá
Amapá
Amapá
Amapá
Amapá
Amapá
Amapá
Amapá
Roraima
Jun/98
Aug/98
Nov/06
Dec/81
Oct/81
Dec/98
Sep/95
Oct/81
Dec/98
Jun/99
Dec/81
Dec/81
Dec/82
Dec/82
Jun/98
Dec/82
Dec/82
Jan/00
Dec/82
Feb/94
Mar/99
Mar/99
Nov/93
Oct/81
Jul/87
Jun/03
Sep/96
Jul/83
Sep/96
Sep/96
Mar/08
Oct/08
Nov/12
Aug/94
Sep/94
Jul/89
May/02
jul/89
Jun/08
Oct/08
Sep/97
Nov/75
Apr/96
Dec/01
Jun/00
May/02
Oct/75
Dec/07
Aug/00
Nov/96
Jul/01
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Jan/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
105
Marketletter
8.2.SPE
8.2.1.Transmission Lines
From - To
Participation
(%)
Coxipó-Cuiabá-Rondonópolis
(MT), SE Seccionadora Cuiabá
49.00
193
230
Aug/05
Feb/34
37.00
695
500
May/08
Apr/36
49.71
402
230
Sep/09
Mar/38
SPE
Extension
(km)
Tension
(kV)
Beginning of
Operation
End of
Operation
AETE - Amazônia
Eletronorte Transmissora
de Energia S.A.
INTESA - Integração
Transmissora de Energia
S.A.
BRASNORTE
Transmissora de Energia
S.A.
Transmissora
Matogrossense de
Energia S.A. – TME
Colinas-Miracema-GurupiPeixe Nova-Serra da Mesa 2
(TO / GO)
Jauru - Juba – C2 (MT) e
Maggi - Nova Mutum (MT), SE
Juba e SE Maggi - 230/138 kV
TL Jauru / Cuiabá, em 230
kV, Mato Grosso
49.00
348
500
Nov/11
Nov/39
Manaus Transmissora de
Energia S.A.
Oriximiná - Silves - Lechuga
(AM), SE Silves (exItacoatiara) e SE Lechuga
(ex-Cariri)
30.00
559
500
Mar/13
Oct/38
8.2.2.Substation – N/A
9.Transmission losses - %
1Q14
2Q14
3Q14
3.0
3.0
3.0
10.Main investments of parent company – R$ million
Project
Generation
HPU Coaracy 2nd stage
Generation system Maintenance
HPU Curuá-Una-Extension
Extension of Generation System
Transmission
TL Implementation Rio Branco – Cruzeiro do Sul
Reinforcement of the Isolated System
TS North/Northeast-Maranhão
Transmission system Maintenance
Reinforcement of interconnected system
Others
Preservation and conservation
Infrastructure
Infrastructure
Infrastructure
Headquarters
Total
1Q14
2Q14
3Q14
2014 budget
2,629,923
2,627,370
2,553
57,332,076
24,780,112
1,170,468
49,692
1,770,738
29,561,066
1,578,314
1,074,447
849
57,018
446,000
61,540,313
3,429,508
362,617
2,814,360
252,531
58,454,857
6,072
2,883,119
360,577
4,095,528
51,109,562
3,993,509
2,897,141
83,658
566,710
446,000
65,877,875
2,132,717
174,288
1,748,618
209,811
85,998,469
5,989,659
5,653,184
1,835,527
11,275,266
61,244,833
4,522,334
2,637,377
20,180
1,864,777
92,653,520
64,171,782
5,000,000
24,038,182
1,500,000
33,633,600
409,199,023
40,061,000
16,410,000
5,000,000
35,000,000
312,728,023
56,690,195
38,590,195
1,050,000
1,050,000
15,000,000
1,000,000
530,061,000
106
Marketletter
11.New investments
11.1.Generation
11.1.1.Own assets – N/A
11.1.2.SPE
Location
(State)
Installed Capacity
(MW)
Assured
Energy
(MW)
UHE Belo Monte
PA
11,233
4,571
Nov/15
Aug/11
Aug/45
UHE Sinop
MT
400
239.8
Mar/17
Dec/13
Feb/49
SPE
Unit
Norte Energia S.A.
Cia. Energética
Sinop S.A.
Beginning
Beginning of
End of
of
Construction Concession
Operation
11.1.2.1. SPE
Investiment
(R$ million)
Total
Up to 3Q14
SPE
Unit
Norte
Energia S.A.
UHE Belo Monte
Working Schedule
(%)
Participation
(%)
Partners
14,983,60
58.6
19.98
ELETROBRAS / CHESF /
PRIVADOS
79,6
10.4
24.50
CHESF / ALUPAR
29,375.00
Working final basis
25,885.00
Basis: April/10
Cia.
Energética
Sinop S.A.
UHE Sinop
1,804.81
11.2.Transmission
11.2.1.Own assets
11.2.1.1.Transmission lines
From - To
Jorge Teixeira –
Lechuga (AM)
Jorge Teixeira –
Lechuga (AM) SE
Lechuga (leilão
02/12(*)
Total of investment
(R$ million)
Extension
of lines (Km)
Tension (kV)
Beginning
of
Operation
End of
Concession
Total
Up to 3Q14
44,2
43,6
30
230
Feb/14
Jul/40
58,0
47,2
30
230
May/14(*)
May/42
(*) the TL is concluded and available to begin into Operation since May/14. But, the forecasted of conclusuion of substations for Dec/14, when the group might be energized, entering into Operation.
11.2.1.2.Substations
SE
SE Rio Branco I –
AT2
230/138/13,8KV
SE Nobres –
AT1/AT2
230/138kV
SE Sinop - AT3
230/138kV
SE Miracema TR2
500/138/13,8kV
Investiment (R$ million)
Total
Up to 3Q14
10,5
(basis dec/2010)
10,1
55
AC
Sep/13
Sep/43
16,9
(basis sep/2011)
16,5
100
MT
Oct/13
Oct/41
11,9
100
MT
Sep/13
Sep/43
MA
Oct/13
Jun/43
11,9
(basis jun/11)
25,6
(basis dec/10)
24,3
180
Location
(State)
Beginning
of
Operation
Transformation
capacity (MVA)
End of
Concession
107
Marketletter
11.2.2.SPE
11.2.2.1.Transmission lines
SPE
Norte Brasil
Transmissor
a de Energia
S.A
Linha Verde
Transmissor
a de Energia
S.A.
Transnorte
Energia S.A.
Belo Monte
Transmissor
a de Energia
S.A.
From-To
Coletora Porto
Velho (RO) –
Araraquara
(SP)
Porto Velho
(RO) –
Samuel (RO)
– Ariquemes
(RO) - JiParaná (RO) Pimenta
Bueno (RO) –
Vilhena (RO)
– Jauru (MT)
Eng. Lechuga
(AM) Equador (RR)
e Equador
(RR) - Boa
Vista (RR),
circuito duplo
e SEs Equador
(RR) Boa Vista
(RR)
Estação
Conversora
CA/CC, ±800
kV, 4.000
MW, junto a
SE 500 kV
Xingu;
Estação
Conversora
CA/CC, ±800
kV, 3.850
MW, junto a
SE 500 kV
Estreito; e
Linha de
Transmissão
em Corrente
Contínua de
±800 kV
Xingu Estreito.
Participation
(%)
Investiment
(R$ million)
Up to
Total
3Q14
24.50
2,770,20
2,656,90
49.00
658,40
526,36
Extension
of lines
(Km)
Tension
(kV)
Beginning
of
Operation
End of
Concession
2,375
±600
Sep/14
Feb/39
987
230
Dec/14
Nov/39
TL: Sep-16
49.00
1,110,00
216,82
715
500
Jan/42
CE: Dec-14
24.50
5,049,00
-
2,092
±800
Feb/18
Jun/44
108
Marketletter
11.2.2.2.Substations
SE
Participation
(%)
Investiment
(R$ million)
Transformation
Capacity
(MVA)
Location
SE Luziânia e
SE Niquelândia
49.0
39.3
255
Luziânia (GO)/
Niquelândia
(GO)
SPE
Luziânia Niquelândia
Transmissora S.A.
Beginning
End of
of
Concession
Operation
Aug/15
May/42
12. Loans and financing – R$ million
Local currency – LC
Creditor
Eletrobras ECF-2092/01
Eletrobras ECF-2272/02
Eletrobras ECF-2273/02
Eletrobras ECF-2710/08
Eletrobras ECF-2757/09
Eletrobras ECF-2758/08
Eletrobras ECF-2794/09
Eletrobras ECF-2818/10
Eletrobras ECF-2934/11
Eletrobras ECF-3038/13
BNDES-03.2.782.3.1
BNDES-09.02.1355.1
BNDES-10.20.2677
Banco do Brasil
Banco do Nordeste
Banco do Brasil
Banco da Amazônia
BNDES-11.2.13181.1
BNDES-11.2.0281.-ETE
BANCO DA AMAZÔNIA-ETE
BASA-043.11/0029-2DEBENDURES
BNDES-13.2.0672.1
BNDES-13.2.0673.1
BNDES-13.2.0679.1
Balance
03.31.14
Balance
06.30.14
Balance
09.30.14
207.97
317.37
71.20
7.95
127.72
25.08
1,531.55
69.90
383.89
72.87
255.06
30.24
10.43
7.72
67.64
6.54
24.26
136.62
496.32
242.10
202.63
298.33
66.12
7.00
125.40
24.62
1,520.72
68.69
382.47
72.90
229.64
29.28
10.19
7.20
66.53
6.55
23.72
134.00
490.98
222.99
197.30
279.29
61.03
6.04
122.15
23.98
1,474.04
66.94
377.43
72.87
204.17
28.34
9.94
6.70
65.58
6.55
23.33
131.41
482.56
244.77
12/30/2023
05/30/2018
09/30/2017
04/30/2016
06/30/2021
06/30/2021
12/30/2029
10/30/2021
01/30/2023
07/30/2020
09/15/2016
11/15/2024
11/15/2024
01/01/2018
06/03/2031
12/01/2026
01/01/2029
03/15/2027
11/15/2028
07/10/2031
-
222.99
226.53
10/15/2031
TJLP+1.5% py
-
-
17.21
14.98
4.45
10/15/2028
08/15/2028
03/15/2028
TJLP+3.05 and 3.05% py
TJLP+3.05 and 3.05% py
TJPL+3.05 and 3.05% py
Due Date
Index
RGR+8.42% py
RGR+7% py
RGR+7% py
RGR+7% py
IPCA+7%py
IPCA+7% py
IPCA+7% py
IPCA+7% py
IPCA+7% py
SELIC
TJLP+3.5% py
TJLP+2.5% py
TJLP+2.5% py
8.5 % py
8.5% py
8.5% py
8.5% py
TJLP+2.12 and 1.72% py
TJLP+2.12% py
8.5% py
Foreign currency – FC
Creditor
Eletrobras ECR-257/97– BID
Eletrobras ECR-259/98 – CAF
Eletrobras ECR – 260/98 – Eximbank
Credit National 121/0118
Credit National 121/0122
D.M.L.P – Tesouro Nacional
Balance
03.31.14
350.65
18.07
144.98
0.00
0.04
0.47
Balance
06.30.14
319.61
17.77
135.79
0.00
0.03
*
Balance
09.30.14
363.51
13.05
141.09
0.00
0.03
*
Due Date
04/06/2025
08/04/2015
04/06/2025
12/31/2016
12/31/2016
04/15/2014
Index
US$+6.83% py
Libor+3.58% py
Yen+3.5% py
EUR+3.5% py
EUR+3.5% py
US$+8% py
* The contract was ended on 04.30.2014.
109
Marketletter
13.Contracts
13.1.Loans and financing – R$ million
13.1.1.Parent company
Loans and financing
By activity
Generation
Transmission
Energy tradings
By creditor
Eletrobras
Others
2014
2015
2016
2017
2018 After 2018
Total (LC + FC)
73.03
89.46
0.08
299.53
182.88
12.96
286.18
180.33
218.02
174.62
178.17
159.36
1,582.46
1.228.21
2,637.39
2,014.86
13.04
81.91
80.66
293.89
201.48
305.53
160.98
305.21
87.43
251.93
85.60
1,930.52
880.15
3,168.99
1,496.30
13.1.2.SPE
Loans and financing
By activity
Generation
Transmission
Energy tradings
By creditor
BNDES
Others
Total
2014
2015
2016
2017
2018
After 2018
15,633,099,574.34
2,998,377,766.74
16,698,705,908.62
2,780,625,746.14
17,843,115,587.53
2,351,166,010.07
-
-
-
11,267,936,288.34
7,363,541,052.75
18,631,477,341.09
11,779,547,029.24
7,699,784,625.52
19,479,331,654.76
12,008,826,667.61
8,185,454,929.99
20,194,281,597.60
-
-
-
14.Number of employees
(including requested employees from other Eletrobras companies and excluding employees assigned to other
Eletrobras companies)
14.1.By tenure
Generation
Composition of employees by tenure (Years)
Up to 5
6 to 10
11 to15
16 to 20
21 to 25
beyond 25
Total
1Q14
21
236
18
18
121
186
600
2Q14
18
239
18
17
121
187
600
3Q14
19
240
17
18
117
188
599
110
Marketletter
Transmission
Composition of employees by tenure (Years)
Up to 5
6 to 10
11 to15
16 to 20
21 to 25
beyond 25
Total
1Q14
2Q14
3Q14
72
327
57
42
159
446
1,103
42
356
57
42
158
447
1,102
37
358
60
41
157
444
1,097
1Q14
2Q14
3Q14
64
516
8
16
301
462
1,367
38
527
9
15
298
462
1,349
Administration
Composition of employees by tenure (Years)
Up to 5
6 to 10
11 to15
16 to 20
21 to 25
beyond 25
Total
77
503
8
16
304
458
1,366
14.2.By region
State
1Q14
Acre
Amazonas
Amapá
Maranhão
Mato Grosso
Pará
Rondônia
Roraima
São Paulo
Tocantins
Tucuruí
Distrito Federal
Total
Number of employees
2Q14
133
11
170
348
197
454
237
48
37
54
278
1,102
3,069
133
12
170
348
198
450
237
48
36
54
279
1,104
3,069
3Q14
134
14
169
347
199
449
236
48
36
54
277
1,082
3,045
14.3.By departments
Department
1Q14
Field
Administrative
Total
Number of employees
2Q14
1,031
2,493
3,524
1,702
1,367
3,069
3Q14
1,696
1,349
3,045
15.Complementary work force
Operational
1Q14
2Q14
3Q14
380
399
394
16.Turn-over - %
1Q14
2Q14
3Q14
0.23
0.05
0.29
111
Balance Sheet
(R$ thousand)
Financial Statements for Consolidation Purposes
Assets
Current Assets
Availabilities
Clients (Consumers and Resellers)
Loans and Financing - Principal
Marketable securities
Deferred Fiscal Assets (Taxes and Contribution)
Income tax and Social Contribution
Reimbursement Right - CCC (12,111 Law)
Stored Material
Storage of Nuclear fuel
Financial Asset
Other
Non-Current Assets
Clients (Consumers and Resellers)
Loans and Financing - Principal
Marketable securities
Deferred Fiscal Assets (taxes and Contributions)
Income tax and Social Contribution
Reimbursement Right – CCC (12,111 law)
Linked deposits
Stored Nuclear fuel
Other
Advance for equity participation
Investment
Fixed Asset
Intangible
Non-Current Assets Total
Total Assets
09.30.14
09.30.13
5,125
200,295
33,323
17,828
9,089
138,816
340,319
71,623
816,418
29,228
156,886
305,559
42,758
93,514
343,730
59,766
1,031,441
45,292
496,683
334,536
876,511
10,139,054
53,128
11,068,693
11,885,111
42,432
430,072
285,459
757,963
9,103,682
45,450
9,907,095
10,938,536
112
Liabilities and Stockholders’ Equity
Current Liabilities
Suppliers
Loans and financing - Principal
Loans and financing - Charges
Taxes and social contributions
Income tax and Social Contribution
Advance from clients (Energy sell in advance)
Remuneration to Shareholders (dividends to pay)
Estimated Obligations
Provision for contingencies
Post-employment benefits (Complementary Pension Fund)
Onerous Contracts
Sector charges (regulatory taxes)
Incentive to personnel retirement
Others
Non-Current Liabilities
Suppliers
Loans and Financing - Principal
Taxes and Social Contribution
Income tax and Social Contribution
Advance from Clients
Estimated Obligations
Provision for Contingencies
Provision for onerous contaract
Post-Employment Benefit (Complementary Pension Fund)
Leasing
Sectorial Charges (regulatory taxes)
Demobilization of asset obligation
Advance for future capital increase
Others
Stockholders’ Equity
Social capital
Capital Reserves
Profit Reserves
Additional Proposed Dividend
Accrued profit/losses
Other comprehensive income
Non-controlling shareholders participation
Stockholders’ Equity Total
Total Liabilities and Stockholders’ Equity
09.30.14
09.30.13
140,748
830,896
10,721
53,044
327,151
11,789
55,473
78,800
1,508,622
152,308
56,843
4,552
53,457
119,697
8,376
2,502
16,560
414,295
3,338,348
79,166
145,531
48,286
1,278,809
100,930
4,991,070
2,709,410
72,440
233,573
1,025,185
75,857
4,116,465
6,607,258
-1,200,914
-20,925
5,385,419
11,885,111
6,607,258
-22,854
-176,628
6,407,776
10,938,536
113
Statement of Income
(R$ thousand)
Operating Revenue
Supply
Other Operating Revenue
Deductions to the Revenue
Net Operating Revenue
.
Operating Costs
Charges over the use of electric grid
Fuel for electric energy production - CCC
Operating expenses
Personnel, Material and Third-part related Service
Depreciation and Amortization
Donations and Contributions
Provisions
Realignment Headcount Plan
Others
Operating Cost and Expenses
Operating Result before Financial Result
Financial result
Income before Income tax and Social Contribution
.
Current Income tax and Social contribution
Deferred Income tax and Social Contribution
Net income for the period
09.30.14
09.30.13
1,618,404
220
-196,596
1,422,028
1,520,605
-134,921
1,385,684
-47,063
-220,505
-43,269
-211,363
-757,509
-271,155
-61,747
-305,404
-56,000
-1,719,383
-297,355
-119,031
-416,386
-665,491
-217,318
-50,109
-52,798
-1,240,348
145,336
-52,543
92,793
-26,001
-442,387
-12,250
-33,405
47,138
114
Cash Flow
(R$ thousand)
Cash Flow
09.30.2014
09.30.2013
OPERATING ACTIVITIES
Profit/Loss before income tax and social contribution
Depreciation and amortization
Net monetary and currency variations
Financial charges
Equity Equivalency Result
Provision for uncovered liability
Provision for credits of questionable liquidation
Provision for contingencies
Provision for staff realignment
Impairment
Global reversal reserve charges
Adjustment to present value / market value
Minority Participation in the Results
Charges on shareholders funds
Revenue of financing assets - IRR
Derivative financial instruments
Others
Variation in operating assets / liabilities
Cash generated in operating activities
-416,386
271,155
42,518
25,064
50,397
305,404
57,939
263,795
-397,387
202,499
92,793
217,318
11,283
31,236
5,069
33,694
285,647
-316,051
360,989
Financial charges paid
Payment of global reversal reserve charges
Financial charges received
Remuneration received from equity participation
Financial asset revenue by RAP
Receiving compensation for financial asset
Payment of income tax and social contribution
Payment of pension fund
Lawsuits payment
Legal deposits
Net cash operating activities
-49,576
-32,091
-5,749
115,083
-44,954
-19,426
-2,918
293,691
FINANCING ACTIVITIES
Loans and financing obtained
Loans and financing payable – principal
Payment of Shareholders remuneration
Payment on refinancing of taxes and contributions - Principal
Receipt of Advance for future Capital Increase
Others
Net financing activities
860,863
-37,767
-10,092
813,004
299,969
-64,238
235,731
-910,511
-12,612
-6,756
-929,879
-824,438
-12,155
205,045
-631,548
-1,792
-102,126
6,917
5,125
-1,792
131,354
29,228
-102,126
INVESTMENT ACTIVITIES
Acquisition of fixed asset
Acquisition of intangible asset
Acquisition of Concession asset
Advance for future capital increase
Acquisition of equity participation
Others
Net cash investment activities
Increase (decrease) in cash and cash equivalent
Cash and cash equivalent – beginning of period – 12/31/13
Cash and cash equivalent – end of period – 03/31/14
115
Analysis of the result
3Q14 x 2Q14
The Company presented a profit in 3Q14 110.4% higher than the registered in the previous quarter, from a loss of R$ (166.2) million in 2Q14 to
a profit of R$ 17.3 million in 3Q14, mainly due the factors described below.
Operating Revenue
The electric energy supply decreased by 4.2%, from R$ 541.9 million in 2Q14 to R$ 519.4 million in 3Q14, mainly due to the negative adjustment
of forecast revenues complementary RAG (Annual Revenue Generation).
Operating Expenses
The personnel expenses, materials and third-part related services had increased 22%, from R$ (255.3) million in 2Q14 to R$ (311.6) million in
3Q14, primarily due to expenses related to the execution of the Early Retirement Program.
The spending in Early Retirement Program (PID) showed an increase of 207.1% from an expense of R$ (49.5) million in 2Q14, to an income of R$
53 million in 3Q14, mainly due to the reversal of provision occurred as the retirements started in August 2014.
The fuel for electricity production decreased by 15.9% from R$ (73.5) million, in 2Q14, to R$ (61.9) million, in 3Q14, mainly due to the increase
in fuel consumption in 3Q14.
The operational provisions decreased by 118.1%, from a provision of R$ (67.5) million in 2Q14, for a reversal of R$ 12.2 million in 3Q14, mainly
due to the reversal of a provision of the PID of R$ 48 million, by the exit of employees in August and September.
Financial Result
The net foreign currency variations decreased by 112%, from an expense of R$ (18.7) million in 2Q14, a recipe for R$ 2.2 million in 3Q14, mainly
due to currency fluctuations on debt with suppliers from abroad in 3Q14.
The other financial income decreased by 443.5%, from an expense of R$ (8.5) million in 2Q14 to a revenue of R$ 29.3 million in 3Q14, mainly
due to the compensation fund decommissioning the 3Q14, due to sharp movements in the dollar during the quarter.
116
Market Data
1. Generation Assets and Energy generated
Unit
Installed Capacity (MW)
Angra I
Angra II
Total
Guaranteed energy
(MW Average)
640
1,350
1,990
1Q14
509,8
1,204.7
1,714.5
Energy generated (MWh)
2Q14
1,299,694.18
2,939,049.94
4,238,744.12
842,821.64
2,926,158.78
3,768,980.42
3Q14
1,427,505.52
1,586,080.78
3,013,586.30
Unit
Location (State)
Beginning of Operation
End of Concession = Useful Economic Life
Angra I
Angra II
Rio de Janeiro
Rio de Janeiro
01/1985
09/2000
12/2024
08/2039
2. Electric energy purchased for resale - N/A
3. Energy sold
Buyer
Eletrobras
System
Others
Total
Sale
model
1Q14
R$ million
A
B
A
B
A
B
MWh
15,8
542,3
109,906,136
3,765,422,290
558,1
3,875,328,426
2Q14
R$ million
MWh
3Q14
R$ million
MWh
15,4
526,6
-97,531,195
3,341,452,522
504,6
2,667,959,623
542,0
3,438,983,717
519,3
2,745,832,73
14,7
77,873,107
A - Through auction
B - Through free market agreements or bilateral contracts
4. CCEE settlement (Spot and MRE) – N/A
5. Fuel used to produce electricity
1Q14
Type
Kg
Uranium
72,101
2Q14
R$ Million
85,1
Kg
59,990
R$ Million
73,5
3Q14
R$ Million
Kg
56,551
61,9
6. Losses in generation - %
1Q14
2Q14
3Q14
2.11
2.38
2.12
7. Average price– R$/MWh
1Q14
2Q14
3Q14
143.76
157.69
189.12
8. Extension of transmission lines - Km – N/A
9. Transmission losses - % - N/A
117
10.Main investments– R$ million
Project
1Q14
Generation
Angra 1 and 2 (Maintanence)
Angra 3
Others
Total
2Q14
29,735.3
155,198.4
9,602.7
194,536.4
3Q14
36,269.5
532,649.9
2,355.7
571,275.1
2014 budget
58,567.0
279,737.9
2,291.5
340,596.4
405,743.7
2,110,817.6
45,253.6
2,561,814.9
11. New investments
Generation
Location
(State)
Unit
Total of
investment
(R$ million)
RJ - Angra
dos Reis
Angra 3
Investment
up to 3Q14
(R$ million)
14,882 **
5,039.6
Installed
capacity
(MW)
1,405
Guaranteed
energy
(MW)
Beginning
of
Operation
1,214,2
Beginning
of
Construction
Dec/18
End of
Concession
Jul/08
Mar/58*
*There is still no license of Operation for Angra 3. It considers 40 years.
** Direct costs.
12. Loans and financing – R$ million
Local currency – LC
Creditor
Balance
03.31.14
Eletrobras
BNDES
CEF
1,083.6
2,118.8
264.0
Balance
06.30.14
Balance
09.30.14
Date Due
Index
1,062.2
2,260.6
760.8
1,048.0
2,358.3
773.6
01.30.2038
06.15.2036
12.27.2014
5% py/UFIR
1.72% py + TJLP
6.7% py
Foreign currency – FC – N/A
13.Contracts
13.1.Loans and financing – R$ million
Loans and financing
By activity
Generation
By creditor
Eletrobras
BNDES
CEF
2014
789,495
789,495
789,495
9,442
6,425
773,628
2015
2016
61,371
61,371
61,371
61,371
-
79,879
79,879
79,879
47,280
32,599
-
2017
102,628
102,628
102,628
34,161
68,467
-
2018
134,465
134,465
134,465
61,398
73,067
-
After 2018
3,012,127
3,012,127
3,012,127
834,395
2,177,732
-
Total
4,179,965
4,179,965
4,179,965
1,048,047
2,358,290
773,628
118
14.Number of employees
(including requested employees from other Eletrobras companies/ excluding employees assigned to other
Eletrobras companies)
14.1.By tenure
Generation
Tenure in years
Up to 5
6 to 10
11 to15
16 to 20
21 to 25
beyond 25
Total
1Q14
2Q14
3Q14
397
345
304
166
126
504
1,842
416
351
306
166
126
501
1,866
412
330
337
165
117
449
1,810
1Q14
2Q14
3Q14
149
139
60
11
79
282
720
147
136
66
11
65
245
670
Administration
Tenure in years
Up to 5
6 to 10
11 to15
16 to 20
21 to 25
beyond 25
Total
148
137
59
10
79
280
713
14.2.By region
State
Rio de Janeiro
Federal District
Number of employees
2Q14
1Q14
2,550
05
3Q14
2,581
05
2,475
05
14.3.By departments
Departments
Field
Administrative
1Q14
Number of employees
2Q14
3Q14
1,842
713
1,866
720
1,810
670
15.Complementary work force – N/A
16.Turn-over - %
1Q14
2Q14
3Q14
0.0043
0.0081
0.0284
119
Marketletter
Balance Sheet
(R$ thousand)
Financial Statements for Consolidation Purposes
Assets
Current Assets
Availabilities
Clients (Consumers and resellers)
Financing and Loans - Principal
Marketable Securities
Dividends to Receive (Remuneration from equity participations)
Fiscal Assets Deferred (Taxes and Contributions)
Income Tax and Social Contribution
Linked Deposits
Stored Material
Financial Asset
Receivable 12,783/13 Law
Others
Total Current Assets
.
Non-Current Assets
Clients (Consumers and resellers)
Financing and Loans - Principal
Marketable Securities
Fiscal Assets Deferred (Taxes and Contributions)
Income Tax and Social Contribution
Derivatives
Reimbursement Rights – CCC (12,111 law)
Linked Deposits
Financial Asset – Annual allowed Revenue (transmission)
Receivables 12,783/13 Law
Others
Advances for equity participation
INVESTMENTS
FIXED
INTANGIBLE
Non-Current Assets Total
Assets Total
Consolidated
09.30.14
09.30.13
59,763
161,358
1,359
181,178
7,696
18,027
61,660
24,837
35,482
63,855
431,773
89,742
1,136,730
795,954
238,653
1,324
3,330
75,991
0
65,742
33,739
61,746
391,107
59,693
1,727,279
501,303
4,459
176
28,941
127,079
2,074,963
91,401
389,595
3,217,917
2,613,454
2,367,629
173,737
8,372,737
9,509,467
387,861
1,358
142
291,795
92,078
2,193,825
325,923
7,586
137,601
3,438,169
2,320,317
2,475,186
181,514
8,415,186
10,142,465
120
Marketletter
Liabilities and Stockholders’ Equity
Consolidated
09.30.14
09.30.13
Current Liabilities
Suppliers
Loans and financing
Taxes and Social Contributions
Income tax and Social Contribution
Derivatives
Advance from consumers (Energy sell in advance)
Remuneration to shareholders (dividends to pay)
Estimated obligations
Provisions for contingencies
Post-employment benefit (Supplementary Pension Fund)
Onerous Contracts
Concessions to pay - UBP
Sectorial Charges (regulatories fees)
Incentive for personnel retirement
Others
Total of current Liabilities
50,003
399,909
52,426
154
273,296
99,352
9,465
2,053
38,949
120,157
1,045,764
49,364
387,455
48,062
68,529
102,626
11,733
1,939
32,929
530
177,184
880,351
Non-Current Liabilities
Suppliers
Loans and financing - principal
Taxes and Social Contributions
Income tax and Social Contribution
Advance from consumers (Energy sell in advance)
Estimated obligations
Provisions for contingencies
Provisions for uncovered liabilities on invested companies
Provision for Onerous Contracts
Post-employment benefit (Supplementary Pension Fund)
Leasing
Concessions to pay - UBP
Advance for future capital increase
Incentive for personnel retirement
Others
Non-Current Total
2,643,448
53,999
28,296
21,010
56,791
16,343
75,962
23,502
63,976
19,160
3,002,487
2,611,826
82,077
2,121
100,981
727,717
236,447
27,107
607,987
57,458
177
4,453,898
4,295,250
1,072,411
143,367
-63,987
14,175
3,740,410
1,059,172
181,764
-186,577
13,447
Total Stockholders’ Equity
5,461,216
4,808,216
Total Liabilities and Stockholders’ Equity
9,509,467
10,142,465
Stockholders’ Equity
Social Capital
Capital reserve
Profit reserve
Additional proposed dividends
Accumulated Profit/Losses
Others comprehensive Results
Non-Controlling shareholders participation
121
Marketletter
Statement of Income
(R$ thousand)
Consolidated
09.30.14
09.30.13
Operating Revenue
Generation
Supply
Supply
Short Term Electric Energy
241,745
7,331
192,157
46,583
Transmission
O&M Revenue Renewed Lines
O&M Revenue
Construction Revenue – Transmission
Return on Investment - T
Others Operationg Revenues
363,735
72,986
28,867
148,331
20,616
325,578
114,725
94,345
67,389
19,023
-95,146
788,465
-82,806
776,994
-33,609
-10,291
-28,867
-35,673
-8,246
-94,345
-336,444
-4,938
-95,115
-4,463
412,250
-24,675
-126,152
-312,269
-5,827
-65,792
-3,315
103,083
-22,828
-445,212
Equity Participation Results
Operating Result before Financial result
-261,429
400,884
417
332,199
Financial Result
Result before Income tax and Social Contribution
-52,849
348,035
-58,174
274,025
Current Income tax and Social Contribution
Deferred Income tax and Social Contribution
Net Profit of the period
-13,931
-188,475
145,629
-24,191
-66,257
183,577
Deductions to Revenue
Net Operating Revenue
Operating Costs
Electric Energy purchased for resale
Charges over the electric energy network usage
Fuel for electric energy production - CCC
Construction Cost
Operating Expenses
Personnel, Material and Third party services
Remuneration and Reimbursement
Depreciation and Amortization
Donations and Contributions
Provisions
Others
Operating Costs and Expenses
122
Marketletter
Cash Flow
(R$ thousands)
Cash Flow
Operating Activities
Income before income tax, social contributionx
Depreciation and amortization
.
Monetary / Exchange net variation
Financial Charges
Equity method result
Provision for uncovered liability
Provision for credits of questionable liquidation
Provision for contingencies
Provision for realignment of staff plan
Provision for impairment
.
.
Charges of reversal global reserve
Adjustment to present value / market value (sum to Others item)
Minority participation in the result
Charges on shareholders funds
.
Revenue of Financial Asset by IRR
Derivatives
Others
Increase/Decrease in operating assts/liabilities
Cash from operating activities
09.30.2014
09.30.2013
348,035
95,115
274,025
65,792
-30,562
108,211
261,429
-56
-4,302
151
-407,893
-12,179
130,468
-417
56
22,011
66,975
-206,055
4,067
19,871
3,612
-148,331
-438,809
-237,846
-430,920
-67,389
-451,101
-26,370
-200,572
-152,307
347
14
626,038
267,699
-21,027
-272
289,572
-187,738
436
9,531
557,089
1,387,347
-31,362
-24,161
1,510,570
Financing Activities
Loans and Financing obtained
Payment of loans and Financing - Principal
Payment to shareholders
Payment of refinancing of taxes and social contributions - principal
Receiving of future capital increase
Others
Net cash from financing activities
950
-204,676
-320
-13,975
-8,512
-226,533
345,578
-175,451
-88
-23,725
-8,121
138,193
Investment Activities
Fixed Asset Acquisition
Intangible Asset Acquisition
Concession Asset Acquisition
Concession of cash in advance for future capital Increase
Acquisition/Contribution of Capital in equity participation
Others
Net cash from Investment Activities
-78,834
-909
-28,867
-303,134
-365,243
-776,987
-124,257
-449
-94,345
-975,863
131,117
-1,063,797
-713,948
584,966
773,711
59,763
-713,948
210,988
795,954
584,966
Payment of financing charges
Payment of charges of reversal global reserve
Financial charges receiving
Receiving of investment remuneration on equity participation
Receiving of annual allowed revenue (financial asset)
Receiving of indemnities of financial asset
Payment of income tax and Social Contribution
Payment of complementary pension fund
Payment of lawsuit contingencies
Lawsuits deposits
Net cash from operating activities
Increase (decrease) in cash and cash equivalent
Cash and cash equivalent – beginning of period - 12/31/13
Cash and cash equivalent – end of period – 03/31/14
123
Marketletter
Analysis of the result
3Q14 x 2Q14
The Company had a net loss in the 3Q14 167.9% lower than reported in the previous quarter, from a profit of R$ 61.4 million in the 2Q14 for a
loss of R$ (41.7) million in the 3Q14, primarily due to the factors described below.
Operating Revenue
In generation:
The supply of electricity to distribution companies increased by 5.7%, from R$ 77.0 million in the 2Q14 to R$ 81.4 million in the 3Q14, due to
contractual adjustments, as well as the seasonality of sales contracts.
Revenue from sale of electricity decreased by 869% because of reduced physical assurance of plants due to the occurrence of GSF (Generation
Scaling Factor).
In transmission:
Revenues from operation and maintenance of renewed lines had an increase of 24% from R$ 111 million in the 2Q14 to R$ 137.6 million in the
3Q14, mainly due to the adjustment in the amount of RAP on the 2014/2015 cycle and adjustments related to the variable amount and system
apportionment.
Revenues from operation and maintenance had an increase of 20.4%, from R$ 45.7 million in the 2Q14, for R$ 55 million in the 3Q14, mainly
due to the reduction in the percentage of operation and maintenance by the readjustment of the value of the RAP on the 2014/2015 cycle.
Other operating revenue increased 15%, from R$ 6.8 million in the 2Q14 for R$ 7.9 million in the 3Q14, due primarily to an increase in service
delivery.
Operating Expenses
Expenses for personnel, material and services decreased by 2.9%, from R$ 123 million in the 2Q14 to R$ 119.5 million in the 3Q14, mainly due
to salary adjustment in the second quarter and that reflects on all provisions accounting, such as vacation pay and related charges.
Electricity purchased for resale increased by 2.6%, from R$ 15.3 million in the 2Q14 to R$ 15.8 million in the 3Q14, due mainly due to the
purchase of the Power Purchase Agreement - PPA signed with SPE Energia Sustentável do Brasil (UHE Jirau).
Operating Provisions decreased 15.8%, from a reversal of R$ 130.3 million in the 2Q14 for a reversal of R$ 109.8 million in the 3Q14, mainly due
to reversal of provision for onerous contracts in UHE Jirau. While in the 2Q14 reversal was R$ 132.0 million, in the 3Q14 was R$ 108.1 million.
Financial Results
Financial income decreased by 33.6%, from R$ 15.7 million in the 2Q14 to R$ 10.4 million in the 3Q14, mainly due to changes in cash and cash
equivalents.
The charges on shareholder remuneration decreased by 35%, from R$ 11.1 million in the 2Q14 to R$ 7.2 million in the 3Q14, due mainly to
update in Selic, in the 2Q14, of additional dividends proposed in respect of 2014 first half.
Net monetary variations increased 64.7%, from R$ 14.3 million in the 2Q14 to R$ 23.5 million in the 3Q14, mainly due to variation on loans and
financing from Eletrobras that are adjusted by the IPCA, and contingencies update.
Shareholding Participations
The result from equity investments decreased by 248.8% from a loss of R$ (44.8) million in the 2Q14 to a loss of R$ (156.3) million in the 3Q14,
mainly due to inferior results presented by investees companies.
124
Marketletter
Market Data
1.Generation Assets and Energy generated
1.1.Own assets
Plant
Installed
Capacity
(MW)
Guaranteed
energy (MW
Average)
UHE Passo São João
UHE Mauá*
UHE São Domingos
SCH Barra do Rio Chapéu
SCH João Borges
Cerro Chato I WPP
Cerro Chato II WPP
Cerro Chato III WPP
Megawatt Solar
77.0
177.9
48.0
15.15
19.0
30
30
30
0.93
41.1
96.9
36.4
8.61
10.14
11
11
11
-
Energy Generated (MWh)
1Q14
2Q14
67,052.7
186,075.2
50,819.7
13,740.0
12,760.3
22,236.2
23,209.4
22,391.0
-
3Q14
119,228.2
253,601.7
48,277.8
18,764.0
25,586.7
24,042.3
25,445.5
24,640.5
35.1
143,053.7
302,507.4
48,202.5
14,723.9
19,297.3
28,611.6
30,441.5
29,583.3
171.5
* Mauá Consortium (49% Eletrosul). The figures relate to the company's participation in the venture
Plant
Location (State)
Beginning of Operation
End of Operation
UHE Passo São João
RS
Mar/12
Aug/41
UHE Mauá*
PR
Nov/12
Jul/42
UHE São Domingos
MS
Jun/13
Dec/37
PCH Barra do Rio Chapéu
SC
Feb/13
May/34
PCH João Borges
SC
Jul/13
Dec/35
WPP Cerro Chato I
RS
Nov/11
Aug/45
WPP Cerro Chato II
RS
Set/11
Aug/45
WPP Cerro Chato III
RS
May/11
Aug/45
Megawatt Solar
SC
May/14
-
* Mauá Consortium (49% Eletrosul)
1.2.SPE
SPE
Installed
Capacity
(MW)
Plant
Guaranteed
energy
(MW
Average)
ESBR Participações S.A.
UHE Jirau*
3,750.0
2,184.6
Eólica Livramento
Wind Plant**
78.0
29.0
Energy generated (MWh)
1Q14
2Q14
3Q14
289,282,53
730,294,27
1,047,941,35
4,089,30
8,181,40
20,238,8
* UHE Jirau is operating with 975 MW capacity
** The wind power plants refers to plants of Livramento Holding, operating with 18 MW of installed capacity.
Plant
Participation
(%)
Location
(State)
Beginning of
Operation
End of Operation
UHE Jirau
20.00
RO
Sep/13
Aug/43
Wind – Livramento Holding SA
49.00
RS
Nov/13
Mar/47
125
Marketletter
2.Electric energy purchased for resale
2.1.Own assets
System
Eletrobras
Others*
Total
Unit
MWh
R$ million
MWh
R$ million
MWh
R$ million
1Q14
2Q14
3Q14
12,178,792
4,51
12,178,792
4,51
10,968,506
1,857
10,968,506
1,857
67,699,035
21,61
67,699,035
21,61
* Includes the reimbursement to Klabin (PCH Salto Mauá). According to Concession Contract # 001/2007, the enterprise should reimburse Klabin, bythe loss in generation in PCH Salto Mauá.
2.2.SPE
Livramento Holding S.A.
System
Unit
MWh
R$ million
MWh
R$ million
MWh
R$ million
Eletrobras
Others
TOTAL
1Q14
2Q14
3Q14
17,176,7
11,537
17,176,7
11,537
47,403,7
27,363
47,403,70
27,363
42,181,63
25,702
42,181,63
25,702
3.Energy sold
3.1.Own assets
3.1.1. Energy sold by enterprises not affected by 12,783 law (not from quotas)
Buyer
Eletrobras System
Others
Total
Sale
model
A
B
A
B*
A
B
1Q14
R$ million
MWh
76,0
7,3
76,0
7,3
454,413,7
59,727,9
454,413,7
59,727,9
2Q14
R$ million
MWh
69,5
7,3
69,5
7,3
417,140,5
57,999,5
417,140,5
57,999,5
3Q14
R$ million
73,9
7,4
73,9
7,4
MWh
429,127,0
61,216,4
429,127,0
61,216,4
A – Regulated enviroment
B - Through free market agreements or bilateral contracts
* Includes the reimbursement to Klabin (PCH Salto Mauá). According to the Concession Contract # 001/2007 – MME – HEU Mauá, the enterprise should reimburse Klabin by loss in generation in Salto
Maua PCH
126
Marketletter
3.1.2. Energy sold by enterprises affected by 12,783 law – O&M – N/A
3.2.SPE
ESBR Participações S.A.
Buyer
Sale
model
1Q14
R$ million
A
B
A
B
A
B
Eletrobras
System
Others
Total
3,2
1,6
28,2
2,4
31,4
4,0
91,4
TOTAL CCEE
2Q14
MWh
R$ million
32,900
9,500
299,400
14,200
332,300
23,700
-66,800
8,3
3,7
76,5
5,6
84,8
9,3
108,1
3Q14
MWh
88,100
21,900
799,600
32,900
887,700
54,800
-212,200
R$ million
MWh
12,7
16,7
112,0
24,3
124,7
41,0
12,9
131,300
98,300
1,141,200
143,900
1,272,500
242,200
-466,700
A – Regulated enviroment
B - Through free market agreements or bilateral contracts
Livramento Holding S.A.
Buyer
Sale
model
1Q14
R$ million
A
B
A
B
A
B
Eletrobras
System
Others
Total
2Q14
MWh
R$ million
3Q14
MWh
R$ million
MWh
0.765
2,762,232
1,529
6,918,74
0.346
6,921,85
6,316
23,001,768
13,136
57,702,47
2,856
57,110,14
7,081
25,764,000
14,665
64,621,21
3,202
64,031,99
A – Through Auctions
B - Through free market agreements or bilateral contracts
4.CCEE settlement (Spot and MRE – Regulated Market)
Unit
R$ million
MWh
MWaverage
Net
1Q14
-10,33
-117,100,99
-54,19
2Q14
-10,30
52,020,60
23,82
3Q14
-0.04
169,390,74
76,72
5. Fuel used to produce electricity - N/A
6. Losses in generation - %
1Q14
2Q14
3Q14
3.31
3.35
3.17
* Considers Basic Network and Internal Losses
127
Marketletter
7.Average price– R$/MWh
7.1.Own assets – enterprises not affected by 12,783 law
1Q14
2Q14
3Q14
166.11
168.50
173.68
7.1.Own assets – enterprises renewd in terms of 12,783 law – O&M – N/A
7.2.SPE
SPE
ESBR Participações S.A.
Livramento Holding S.A.
1Q14
2Q14
3Q14
99.31
274.85
99.87
232.66
109.38
50.01
8.Extension of transmission lines – Km
8.1.Own assets
8.1.1.Transmission lines
Extension
(km)
From - To
Blumenau – Biguaçu /Campos Novos
Salto Santiago/Ivaiporã
Ivaiporã/Cascavel Oeste
Campos Novos(SC)/Nova S. Rita(RS)
Sub/Total 525 kV
Coletora Porto Velho / P. Velho (RO)
Sub/Total 500/230 kV
Presidente Médice/Santa Cruz
Monte Claro /Garibaldi
Sub/Total 230 kV
General Total
357.8
168.5
203.4
257.4
987.1
44.0
44.0
237.4
33.5
270.9
1,302.0
Tension
(kV)
Beginning of
Operation
End of
Concession
525
525
525
525
Sep/06
Oct/05
Oct/05
May/09
Mar/35
Feb/34
Feb/34
Apr/36
500/230
Aug/12
Feb/39
230
230
Jan/10
Sep/13
Mar/38
Oct/40
8.1.1.2.Transmission lines – enteprises renewed in terms of 12,783 law – O&M
From - To
Areia/Bateias
Areia/Campos Novos
Areia/Curitiba
Areia/Ivaiporã
Areia / /Segredo
Blumenau / /Curitiba
Campos Novos / /Machadinho
Campos Novos / /Caxias
Caxias / /Gravataí
Caxias / /Itá
Curitiba –Bateias
Itá – Nova Santa Rita
Gravataí – Nova Santa Rita
Itá / /Machadinho
Itá / /Salto Santiago
Ivaiporã / /Londrina
Ivaiporã / /Salto Santiago
Ivaiporã Eletrosul / Ivaiporã
Furnas
Ivaiporã Eletrosul / Ivaiporã
Furnas
Extension
(km)
Tension
(kV)
Beginning of Operation
End of Concession
220.3
176.3
235.8
173.2
57.8
135.7
50.2
203.3
78.7
256.0
33.5
314.8
29.1
70.1
186.8
121.9
165.6
525
525
525
525
525
525
525
525
525
525
525
525
525
525
525
525
525
Jun/00
Sep/82
Jun/00
May/82
Aug/92
Dec/83
Jan/02
Dec/01
Dec/01
Feb/02
Jun/00
Apr/06
Apr/06
Jan/02
Sep/87
Apr/88
May/82
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
0.8
525
Sep/82
Dec/42
0.8
525
Feb/92
Dec/42
128
Marketletter
From - To
Ivaiporã Eletrosul / Ivaiporã
Furnas
Salto Santiago //Segredo
Salto Santiago //Segredo
Areia / /Gov. Bento Munhoz
Areia / /Gov. Bento Munhoz
Cascavel D'Oeste /Guaíra
Campos Novos / /Machadinho 2
Ivaiporã / /Londrina 2
Itá / /Salto Santiago 2
Sub/Total 525 kV
Anastácio – Dourados
Areia / Ponta Grossa Norte
Areia / Salto Osório
Areia / Salto Osório
Areia / São Mateus do Sul
Assis / Londrina Copel
Blumenau –Jorge Lacerda B
Biguaçu – Blumenau 2
Blumenau – Itajaí
Blumenau – Itajaí
Blumenau – Joinville
Blumenau – Joinville Norte
Blumenau – Palhoça
Campo Mourão / Apucarana
Campo Mourão /Maringá
Campo Mourão /Salto Osório 1
Campo Mourão /Salto Osório 2
Canoinhas /São Mateus do Sul
Cascavel /Cascavel D'Oeste
Caxias / Caxias 5
Curitiba –Joinville
Curitiba /São Mateus do Sul
Farroupilha /Caxias 5
Monte Claro – Passo Fundo
Farroupilha /Monte Claro
Farroupilha /Monte Claro2
Monte Claro – Nova Prata
Jorge Lacerda A /Jorge Lacerda
Jorge Lacerda "B"/ Palhoça
Jorge Lacerda / Siderópolis 1
Jorge Lacerda / Siderópolis 2
Londrina(Eletrosul) / Assis
Londrina(Eletrosul) / Maringá
Londrina – Apucarana
Londrina Eletrosul / Londrina
Copel
Atlândida 2 / Osório 2
Passo Fundo / Nova Prata 2
Passo Fundo – Xanxerê
Passo Fundo – Xanxerê
Passo Fundo / Passo Fundo 1
Passo Fundo / Passo Fundo 2
Salto Osório / Pato Branco
Salto Osório – Xanxerê
Salto Osório / Salto Osório (1 a
6)
Lajeado Grande / Forquilhinha
Lajeado Grande / Caxias 5
Xanxerê / Pato Branco
Joinville / Vega do Sul 1
Joinville / Vega do Sul 2
Gravataí 2/ / Gravataí 3
Complexo Industrial Automotivo
Gravataí /Gravataí 3
Extension
(km)
Tension
(kV)
Beginning of Operation
End of Concession
0.8
525
Jun/04
Dec/42
60.9
2.1
10.7
10.9
126.2
39.9
122.1
187.6
3,071.9
210.9
181.6
156.3
156.2
129.0
114.3
129.5
116.4
37.5
37.5
67.0
72.8
133.9
114.5
79.9
181.2
181.3
47.7
9.9
22.5
99.7
116.7
17.9
211.5
31.0
31.0
30.9
0.8
120.6
49.4
47.3
156.5
95.3
40.4
525
525
525
525
525
525
525
525
Aug/92
Aug/92
Sep/80
Aug/81
Apr/01
Jan/02
Apr/88
Sep/87
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
230
230
230
230
230
230
230
230
230
230
230
230
230
230
230
230
230
230
230
230
230
230
230
230
230
230
230
230
230
230
230
230
230
230
Aug/94
Oct/76
Jan/77
Dec/76
Jul/90
Mar/79
Oct/80
Jun/79
Jan/02
Mar/02
Sep/79
Apr/79
Jan/84
Feb/76
Feb/76
Feb/76
May/76
Feb/88
Apr/01
Jun/09
Jun/77
Jul/90
Oct/05
Sep/04
Sep/04
Sep/04
Sep/04
Dec/79
Aug/05
Jun/79
Aug/79
May/05
May/05
Apr/88
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
31.6
230
Apr/88
Dec/42
36.0
199.1
79.3
79.2
0.4
0.4
85.9
162.0
230
230
230
230
230
230
230
230
May/07
Nov/92
May/75
Nov/79
Mar/73
May/73
Dec/79
Oct/75
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
2.2
230
Nov/75
Dec/42
116.5
65.6
79.6
44.1
44.1
2.1
230
230
230
230
230
230
Sep/03
Oct/05
Dec/79
Nov/02
Nov/02
Nov/07
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
2.1
230
Dec/07
Dec/42
129
Marketletter
From - To
Jorge Lacerda A / Jorge Lacerda
B2
Jorge Lacerda B / Jorge Lacerda
C1
Jorge Lacerda B / Jorge Lacerda
C2
Biguaçu –Palhoça
Biguaçu –Palhoça (Circuito
Duplo)
Biguaçu – Desterro Circiuto
Duplo
Biguaçu – Desterro (Continente)
Biguaçu – Desterro (Marítimo)
Biguaçu – Desterro (Ilha)
Curitiba /Joinville Norte
(Circuito Duplo)
Curitiba /Joinville Norte
(Circuito Simples)
Joinville – Joinville Norte
(Circuito Duplo)
Joinville – Joinville Norte
(Circuito Simples)
Dourados –Guaíra (Estaiada)
Dourados –Guaíra (Circiuto
Duplo)
Atlântida 2/Gravataí 3
Atlântida 2/Gravataí 3 (Circuito
Duplo)
Livramento / Rivera
El Dorado / Guaíra
Siderópolis / Forquilhinha
Campos Novos / Barra Grande
Sub/Total 230 kV
Blumenau / Ilhota
Campo Grande / Mimoso 2
Biguaçu – Camboriú – Morro do
Boi
Biguaçu – Florianópolis
Campo Grande / Mimoso 3
Campo Grande / Mimoso 4
Dourados das Nações /
Ivinhema
Florianópolis / Itajaí Fazenda
Florianópolis / Palhoça 1
Florianópolis / Palhoça 2
Blumenau / Gaspar
Ilhota – Picarras
Ilhota / Itajaí 1
Ilhota / Itajaí 2
Itajaí / Camboriú Morro do Boi
Itajaí / Itajaí Fazenda
Ivinhema / Porto Primavera
Jorge Lacerda A / Imbituba
Jorge Lacerda A / Palhoça
Joinville / Joinville Santa
Catarina
Joinville Santa Catarina /
Picarras
Jupiá – Mimoso 2
Jupiá – Mimoso 3
Jupiá – Mimoso 4
Palhoça – Imbituba
Anastácio / Aquidauana 1
Anastácio / Aquidauana 2
LI Araquari/Joinville GM
Extension
(km)
Tension
(kV)
Beginning of Operation
End of Concession
0.8
230
Oct/07
Dec/42
0.5
230
Feb/97
Dec/42
0.5
230
Feb/97
Dec/42
2.7
230
Oct/08
Dec/42
17.7
230
Oct/08
Dec/42
17.7
230
Dec/08
Dec/42
21.0
4.3
13.6
230
230
230
Dec/08
Dec/08
Dec/08
Dec/42
Dec/42
Dec/42
1.0
230
Nov/76
Dec/42
95.4
230
Nov/76
Dec/42
1.0
230
Nov/76
Dec/42
4.3
230
Nov/76
Dec/42
209.6
230
Nov/91
Dec/42
16.9
230
Nov/91
Dec/42
64.2
230
Apr/08
Dec/42
36.0
230
Apr/08
Dec/42
1.9
16.9
27.6
34.6
4,847.3
40.2
108.3
50.3
230
230
230
230
Jan/01
Oct/82
Oct/11
Sep/05
Dec/42
Dec/42
Dec/42
Dec/42
138
138
138
Oct/88
Oct/83
Feb/02
Dec/42
Dec/42
Dec/42
19.5
108.3
108.3
94.7
138
138
138
138
Feb/02
Sep/83
Sep/83
Dec/83
Dec/42
Dec/42
Dec/42
Dec/42
58.4
9.6
9.6
29.0
14.8
7.9
7.9
13.3
5.4
91.0
45.7
108.6
11.0
138
138
138
138
138
138
138
138
138
138
138
138
138
Oct/90
Nov/83
Nov/83
Sep/89
Apr/94
Mar/02
Jan/02
Feb/02
Mar/02
Mar/82
Oct/80
Oct/83
Oct/99
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
50.0
138
Oct/99
Dec/42
218.7
218.7
218.7
74.0
11.1
11.1
19.3
138
138
138
138
138
138
138
Feb/92
Jan/82
Jan/82
Oct/83
Nov/06
Nov/06
May/12
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
130
Marketletter
From - To
Biguaçu/ Florianópolis 2
Ilhota/Araquari Hyosung
Ilhota/Gaspar
Joinville/Joinville GM
Sub/Total 138 kV
Conversora de Uruguaiana /
Passo de Los Libres
Salto Osório / Salto Santiago
Sub/Total (132 and 69 kV)
Total geral
Extension
(km)
Tension
(kV)
Beginning of Operation
End of Concession
19.5
47.7
11.2
8.7
1,850.5
138
138
138
138
May/11
Sep/11
Oct/88
May/12
Dec/42
Dec/42
Dec/42
Dec/42
12,5
132
Sep/94
Dec/42
69
Oct/78
Dec/42
56,2
68.7
9,838.4
8.1.2.Substations
8.1.2.1. Substations – enterprises not affected by 12,783 law
Substations
SE – Missões
SE – Biguaçu
SE – Foz do Chapecó *
SE – Caxias 6
SE – Ijuí 2
SE – Lageado Grande *
SE – Nova Petrópolis 2
SE – Coletora Porto Velho
SE Biguaçu –ampliação
SE Tapera 2 - ampliação
SE Joinville Norte - ampliação
SE Nova Santa Rita –ampliação
Total
Transformation
capacity (MVA)
150
1,344
100
330
166
75
83
800
150
83
150
672
4,103
Location
Beginning of
Operation
End of
Operation
RS
SC
RS
RS
RS
RS
RS
RO
SC
RS
SC
RS
Nov-10
Apr-08
Dec-12
Aug-12
Apr-13
Nov-12
Nov-12
Aug-12
Oct-12
Nov-12
Sep-13
Dec-13
Jan-39
Mar-35
Oct-40
Oct-40
Oct-40
Oct-40
Oct-40
Feb-39
Dec-42
Dec-42
Dec-42
Dec-42
*Transformers installed in third-part related substations
131
Marketletter
8.1.2.2. Substations – enterprises renewd in terms of 12,783 law – O&M
Transformation Capacity
(MVA)
Substations
SE - Campos Novos
SE – Caxias
SE – Gravataí
SE - Nova Santa Rita
SE – Blumenau
SE – Curitiba
SE – Londrina
SE - Santo Ângelo
SE – Biguaçu
SE – Joinville
SE – Areia
SE – Xanxerê
SE – Itajaí
SE - Jorge Lacerda "A"
SE – Palhoça
SE - Canoinhas
SE - Siderópolis
SE - Assis (*)
SE - Joinville Norte
SE - Dourados
SE - Atlântida 2
SE - Caxias 5 (*)
SE - Passo Fundo
SE - Tapera 2
SE - Gravataí 3
SE - Desterro
SE - Anastácio
Conver. frequência de Uruquaiana
SE – Ilhota
SE – Alegrete
SE - Charqueadas
SE – Farroupilha
SE – Salto Santiago
SE – Florianópolis
SE – Salto Osório
SE – Itararé
Total
2,466
2,016
2,016
2,016
1,962
1,344
1,344
1,344
300
691
672
600
525
399.8
384
375
352
336
300
300
249
215
168
166
165
150
150
109.7
100
66
88
88
15
75
33.3
42
21,622.8
Location
Beginning of
Operation
End of
Operation
SC
RS
RS
RS
SC
PR
PR
RS
SC
SC
PR
SC
SC
SC
SC
SC
SC
SP
SC
MS
RS
RS
RS
RS
RS
SC
MS
RS
SC
RS
RS
RS
PR
SC
PR
SC
Sep/1982
Dec/2001
Sep/1982
Aug/2009
Apr/1979
Out/1980
Apr/1988
Dec/1999
Apr/2008
Nov/1974
Aug/1980
Jun/1983
Jan/2002
Jun/1973
Jan/1984
Feb/1988
Apr/1975
Mar/1979
Jun/2009
Nov/1987
May/2007
Jun/2005
Nov/1992
Mar/2005
Nov/2007
Dec/2008
Aug/1994
Sep/1994
Dec/1976
May/1971
Jan/1972
Jun/1973
Nov/1980
Dec/1974
Out/1975
May/2013
Dec-42
Dec-42
Dec-42
Dec-42
Dec-42
Dec-42
Dec-42
Dec-42
Dec-42
Dec-42
Dec-42
Dec-42
Dec-42
Dec-42
Dec-42
Dec-42
Dec-42
Dec-42
Dec-42
Dec-42
Dec-42
Dec-42
Dec-42
Dec-42
Dec-42
Dec-42
Dec-42
Dec-42
Dec-42
Dec-42
Dec-42
Dec-42
Dec-42
Dec-42
Dec-42
Dec-42
* Transformers installed on third-part related substations
8.2.SPEs
8.2.1. Transmission Line
SPE
Etau
Uirapuru
Transmissora Sul
Brasileira de
Energia - TSBE
Costa Oeste
From - To
Linha de transmissão
(Campos Novos (SC) –
Barra Grande (SC) –
Lagoa Vermelha (RS) –
Santa Marta (RS))
Linha de transmissão
(Ivaiporã (PR) – Londrina
(PR))
LT 525 KV 188 Km Salto
Santiago – Itá
LT 525KV 307 Km Itá –
Nova Santa Rita
LT Cascavel Oeste –
Umuarama, CS
Participation
(%)
Extension
(km)
Tension
(kV)
Beginning of
Operation
End of
Concession
27.42
188
230
Jul/05
Dec/32
75.00
120
525
Jul/06
Mar/35
188
525
Feb/14
May/42
307
525
Jul/14
May/42
143
230
Aug/14
Jan/42
80.00
49.00
132
Marketletter
8.2.2. Substations
SPE
Participation
(%)
Substation
Transmissora Sul
Brasileira de Energia TSBE
Costa Oeste*
Ampliação SE 525 KV Salto
Santiago
Ampliação SE 525 kV Itá e
Ampliação SE 525/230kV Nova
Santa Rita
Subestação Umuarama 230/138
kV – 2X150 MVA
Beginning
of
Operation
Transformation
Capacity (MVA)
End of
Operation
-
Feb/14
May/42
-
Jul/14
May/42
300
Jul/14
Jan/42
80.00
49.00
9.Transmission losses - % - N/A
10.Main investments of parent company– R$ million
Project
Generation
Installation of Hydro Complex São Domingo
Installation of Solar Megawatt Project
Electric energy generation Maintenance
Hydro Complex Hidreletrico Alto da Serra installation with 37.0 MW and Associate of
transmission system in 138 KV, with 54
Environmental Preservation and Conservation Projects
Transmission
Expansion of South transmission system
Improvement in Transmission System in Southern Region and in Mato Grosso do Sul
Brazil-Uruguay-Electric Interconnection (Eletrosul Activities)
Maintenance of electric energy transmission system
Infra-Structure
Total
1Q14
2Q14
3Q14
1.7
0.3
0.5
18.4
2.5
14.8
4.2
0.3
1.2
2014 budget
134.2
0.4
0.3
17.3
0.9
1.2
2.7
116.1
11.1
6.2
0.1
4.7
0.0
0.6
13.4
16.0
9.3
0.4
5.7
0.6
2.2
36.6
16.9
10.0
0.5
6.2
0.2
1.8
22.9
0.1
195.9
153.8
5.9
30.2
6.1
47.9
378.0
11.New investments
11.1.Generation
11.1.1.Own assets
Unit -Own
assets
PCH Santo
Cristo*
PCH Coxilha
Rica**
Location
(State)
Total of
Invest. up
investment
to 3Q14
(R$
(R$
million)
million)
Installed
capacity
(MW)
Guaranteed
Beginning
Beginning of
End of
energy
of
Operation
Concession
(MW)
Construction
SC
183,4
16,87
19.5
10.5
-
-
Jun/42
SC
141,0
10,08
18.0
10.1
-
-
Jun/42
* In stage of installation license. Beginning of Operation scheduled for 22 months after the license is issued.
** Beginning of Construction and Operation undefined in order of the negative athorization by IPHAN.
133
Marketletter
11.1.2.SPE
SPE
ESBR
Participações S/A
Teles Pires
Participações S.A.
Eólica –Chuí
Holding SA
Eólica –
Livramento
Holding SA
Eólica – Santa
Vitória do Palmar
SA
Hermenegildo I
Hermenegildo II
Hermenegildo III
Chuí IX
Coxilha Seca
Unit
Location
(State)
Installed
capacity
(MW)
Guaranteed
Energy (MW)
Beginning of
Operation
Beginning of
Construction
End of
Concession
UHE Jirau
RO
3,750
2,184.6
Sep/13
Dec/09
Aug/43
MT
1,820
915.4
Jan/15
Aug/11
Jun/46
RS
144
59.8
Nov/14
Feb/14
Apr/47
RS
78
29.0
Nov/13
Jan/12
Mar/47
RS
258
109.0
Nov/14
Nov/12
Apr/47
RS
57.3
27.4
Apr/15
Aug/14
Jun/49
RS
57.3
26.6
Jun/15
Aug/14
Jun/49
RS
48.3
22.2
May/15
Aug/14
Jun/49
RS
17.9
7.8
Apr/15
Aug/14
May/49
RS
48.0
18.7
May/15
Mar/14
May/49
UHE Teles
Pires
Parques eólicos
de Chuí I a V,
(98MW) e
Minuano VI e
VII (46MW).
Parques eólicos
de Cerro Chato
IV, V, VI,
Ibirapuitã e
Trindad
Parques eólicos
Geribatu de I a
X
Parques eólicos
Verace 24 to
27
Parques eólicos
Verace 28 a 31
Parques eólicos
Verace 34 a 36
Parque eólico
Chuí IX
Coxilha Seca,
Galpões e
Capão do
Inglês.
134
Marketletter
11.1.2.1 SPE
SPE
ESBR Participações
S/A
Teles Pires
Participações S.A.
Eólica –Chuí
Holding SA
Eólica –Livramento
Holding SA
Eólica – Santa
Vitória do Palmar
SA
Hermenegildo I
Hermenegildo II
Hermenegildo III
Chuí IX
Coxilha Seca
Unit
Investiment
(R$ million)
Total
Up to 3Q14
Working
Participation (%)
Schedule (%)
Partners
Suez – 40%. Chesf – 20%
and Mitsui – 20%
Neoenergia – 50.6% and
Furnas – 24.7%
UHE Jirau
18,641,0
17,954,4
95.54
20.00
UHE Teles Pires
4,452,76
3,882,0
92.07
24.70
805,6
248,0
55.7
49.00
Rio Bravo Investimentos
51%
490,3
338,0
89.7
52.53
Rio Bravo Investimentos 41% and Fundação Elos –
6.47%
1,099,10
874,0
95.0
49.00
Brave Winds Geradora –
51%
287,26
19,1
*
99.99
Renobrax – 0.01%
287,26
8,5
*
99.99
Renobrax – 0.01%
244,9
6,4
*
99.99
Renobrax – 0.01%
81,6
8,7
*
99.99
Renobrax – 0.01%
270,0
0.5
*
99.99
Renobrax – 0.01%
Parques eólicos
de Chuí I a V,
(98MW) e
Minuano VI e VII
(46MW).
Parques eólicos
de Cerro Chato
IV, V, VI,
Ibirapuitã e
Trindade
Parques eólicos
Geribatu de I a
X
Parques eólicos
Verace 24 a 27
Parques eólicos
Verace 28 a 31
Parques eólicos
Verace 34 a 36
Parque eólico
Chuí IX
Coxilha Seca,
Galpões e Capão
do Inglês.
*Construction with recent beginning
135
Marketletter
11.2.Transmission
11.2.1.Own assets
11.2.1.1.Transmission lines
Own lines
From - To
Secc. LT JLA – PAL, na SE
GAROPABA
Secc. LT JLA – PAL, na SE
PALHOÇA – PINHEIRA
LT Passo Fundo / Monte
Claro 230Kv
Secc. LT 138 KV Araquari
Hyosung – Joinville GM, na
SE Joinville SC
Seccionamento da LT 138
kV Porto Primavera Ivinhema, na SE IVINHEMA
2, circuito duplo
Seccionamento da LT 138
kV PORTO PRIMAVERA IVINHEMA, na SE NOVA
ANDRADINA (Enersul)
Interligação Elétrica Brasil –
Uruguai – LT Candiota-Melo
Interligação Elétrica Brasil –
Uruguai – LT Presidente
Médici-Candiota
Seccionamento da LT 230
kV Blumenau - Palhoça, na
SE Gaspar 2
Total of
investment
(R$ million)
Invest. up to
3Q14 (R$
million)
Extension
of lines (Km)
Tension
(kV)
7,61
0.70
5.4
138
5,48
2,5
3.7
138
9,29
4,93
11.0
230
3,55
0.18
1.0
3,42
0.02
3.5
10,93
0.06
11.0
51,66
48,69
5,43
15,81
Beginning of
Operation
Forecasted to
Dec/15
Forecasted to
Sep/15
Forecasted to
Mar/15
End of
Concession
Dec/42
Dec/42
Dec/42
Forecasted to
Sep/15
Dec/42
Forecasted to
Jan/16
Jan/44
138
Forecasted to
Jan/16
Dec/42
60.0
525
Nov/14*
Feb/40
6,92
2.8
230
Nov/14*
Feb/40
0.01
2.0
230
Forecasted to
Sep/16
138
138
Jan/44
*Enterprise concluded in Sep/14, but the commercial Operation depends on the conclusion of SE Candiota, forecasted to Nov/14.
136
Marketletter
11.2.1.2.Substations
Substation
SE Garopaba –Implantação de
dois módulos de EL
SE Pinheira – Implantação de dois
módulos de EL
SE Nova Prata 2 – Implatação de
2 módulo de EL
SE Joinville Norte – Ampliação D
Instalação de 2 bancos de
capacitores 230kV – 2x100MVA
SE – Foz do Chapecó Ampliação
B º3 Trafo / 230/138kV
SE Alegrete–Transf. trafo
/69/13,8/13,8kV 17MVA
SE Joinville SC – Implantação de
dois módulos de entrada de linha
Subestação Ivinhema 2
(ampliação / 230/138 kV)
SE Siderópolis – ampliação K –
implantação de um módulo de
entrada de linha em 69 KV
SE Foz do Chapecó – ampliação D
– implantação de um módulo de
entrada de linha em 138 KV
SE Biguaçu – Ampliação “G” –
230/138/13,8 KV
SE Biguaçu - Ampliação "J"
SE Canoinhas - Ampliação "G" –
50 MVAR
SE Desterro - Ampliação "A"
SE Joinville Norte - Ampliação "E"
Reforços em SEs: Gravataí,
Gravataí 2, Salto Osório, Curitiba,
Areia
Reforços em SEs: Farroupilha,
Florianópolis, Ilhota, Palhoça,
Areia
Total of
investment
(R$ million)
Invest. up to
Transformation
3Q14 (R$
capacity
million)
Location
Beginning
of
Operation
Scheduled for
Dec/15
Scheduled for
Sep/15
Scheduled for
Mar/15
End of
Concession
6,23
0.62
0.00
SC
5,20
3,14
0.00
SC
9,31
4,52
0.00
RS
12,31
3,39
200
SC
11,79
1,58
100
RS
7,56
3,35
66
RS
5,13
0.10
0.00
SC
24,90
0.52
300
MS
1,53
0,04
0.00
SC
Scheduled for
Dec/15
Dec/42
1,69
0.22
0.00
RS
Scheduled for
Dec/15
Jun/44
14,68
0.09
150
SC
46,91
0.05
672
SC
Scheduled for
Apr/16
Sep/16
Scheduled for
Feb/15
Scheduled for
May/15
Scheduled for
Dec/14
Scheduled for
Sep/15
Scheduled for
Jan/16
Dec/42
Dec/42
Dec/42
Dec/42
Jun/44
Dec/42
Dec/42
Jan/44
Dec/42
Mar/35
7,24
0.03
50
SC
Sep/16
Dec/42
11,92
13,23
0.04
0.07
150
150
SC
SC
Sep/16
Sep/16
Dec/42
Dec/42
3,40
1,87
0.00
PR
Jun/15
Dec/42
1,47
0.02
0.00
RS and SC
2016
Dec/42
137
Marketletter
11.2.2.SPEs
11.2.2.1.Transmission lines
SPE
From - To
LT Coletora Porto
Velho (RO) –
Araraquara 2 (SP),
em CC
LT 525 KV Curitia /
Marumbi
Curitiba Leste (PR)
LT de 230KV Nova
Santa Rita –
Transmissora
Camaquã,
Sul Brasileira
de Energia SA
LT 230KV
Camaquã – Quinta,
LT Nova santa Rita
– Povo Novo, CS
Transmissora
LT Povo Novo –
Sul Litorânea
Marmeleiro, CS
de Energia
LT Marmeleiro –
S/A*
Santa Vitória do
Palmar
LT Santo
Ângelo/Maçambará,
em 230 kV
Fronteira
LT Pinhalzinho/Foz
Oeste
do Chapecó,
Transmissora
circuito simples, C1
de Energia
e C2
S.A.**
Seccionamento LT
138KV Alegrete 1 –
Santa Maria 1
Norte Brasil
Participation Investiment
(%)
(R$ million)
Up to
3Q14 (R$
million)
Extension
Beginning
Tensão
End of
of TL
of
(kV)
Concession
(Km)
Operation
24.5
2,770.20
2,656.90
2,375
+ 600
Nov/14
Feb/39
20
60,47
45,18
28
525
Mar/15
May/42
121
230
80
174,92
167,90
Nov/14
May/42
Nov/14
Aug/42
Mar/16
Jan/44
51
51
448,48
95,87
419,32
167
230
268
525
152
525
48
525
205
40
230
230
2
230
4,79
* The TL Nova Santa Rita-Povo Novo is forecasted to oct/14. The others to Nov/14
** The TL Santo Ângelo-Maçambará is forecasted to Jan/16 while the portioning is forecasted to Jul/15.
138
Marketletter
11.2.2.2. Substations
SPE
Substations
SE Curitiba
Leste
1
Marumbi
banco
3x224MVA
525/230kV
SE Povo
Novo525/230
kV, 672 MVA (4
unidades
monofásicas de
224 MVA) e
Ampliação SE
Nova Santa Rita
Transmissora Sul
SE Marmeleiro
Litorânea de
2 525 kV /
Energia S.A.
Compensador
Síncrono ±200
Mvar
SE Santa Vitória
2 do Palmar
525/138 kV, 75
MVA (1 unidade
trifásica)
SE Camaquã 3
230/69Kv
Transmissora Sul
2x83MVA e
Brasileira de
ampliação da
Energia S.A.
SE 230 kV
Quinta
SE Pinhalzinho,
em 230/138 kV
(ATF1), SE
Pinhalzinho, em
230/138 kV (ATF
2 e ATF3) e
Fronteira Oeste
Transmissora de ampliações SE
Maçarambá, Foz
Energia S.A. *
do Chapecó e
Santo Angelo
Ampliação da SE
Santa Maria 3,
230/138 kV
Participation
(%)
Total of
investment
(R$ million)
Transformation
capacity (MVA)
Location
20
56,79
672
PR
Mar/15
May/42
101,25
672
RS
Nov/14
Aug/42
175,09
200
RS
Dec/14
Aug/42
48,54
75
RS
Nov/14
Aug/42
51
Beginning
End of
of
Concession
Operation
80
50,15
166
RS
Nov/14
Apr/42
51
58,69
450
RS
Jan/16
Jan/44
23,75
166
RS
Aug/15
Jan/44
* The ampliations of the SE’s Maçambará and Santo Ângelo are forecasted to Mar/16.
139
Marketletter
12.Loans and financing – R$ million
Local currency – LC
Creditor
BNDES/BRDE
BNDES
BNDES/Banco
do Brasil
Banco do
Brasil
Eletrobras
Balance
03.31.14
Balance
06.30.14
Balance
09.30.14
Due Date
Index
22,7
1,116.9
21,4
1,094.3
20,8
1,073,8
05/15/2019
Up to 08/15/2028
TJLP + 4.5% py
Currency basket + 4% py
377.2
365,7
354,8
Up to 01/15/2028
TJLP + 2.65% py
251.1
251,1
251,3
11/15/2023
115% of CDI
Up to 03/30/2030
RGR/IPCA + 7% py/Selic +
0.5%py
1,114.3
1,117,0
1,131,4
Foreign currency – FC
Balance
03.31.14
Creditor
Eletrobras
Balance
06.30.14
186,1
Balance
09.30.14
178,6
184,7
Due Date
Currency
Up to 12/30/2042
Euros
13.Contracts
13.1.Loans and financing
13.1.1.Parent company – R$ million
Loans and financing
By activity
Generation
Transmission
By creditor
Eletrobras
Others
2014
2015
2016
2017
2018
394,0
189,1
204,9
394,0
228,5
165,5
89,8
43,1
46,7
89,8
24,5
65,3
276,2
132,6
143,6
276,2
92,9
183,2
284,4
136,5
147,9
284,4
101,2
183,2
283,8
136,2
147,6
283,8
105,1
178,7
After 2018 Total (LC + FC)
1,688,5
810,5
878,0
1,688,5
763,9
924,7
3,016,7
1,448,0
1,568,7
3,016,7
1,316,1
1,700,6
13.1.2.SPE – R$ million
Uirapuru Transmissora de Energia S.A.
Loans and financing
By activity
Generation
Transmission
By creditor
BRDE
2014
2015
2016
2017
2018
After 2018
1,6
1,6
1,6
1,6
5,8
5,8
5,8
5,8
5,8
5,8
5,8
5,8
5,8
5,8
5,8
5,8
5,8
5,8
5,8
5,8
1,4
1,4
1,4
1,4
Transmissora Sul Litorânea de Energia S.A.
Loans and financing
By activity
Generation
Transmission
By creditor
Santander
Banco ABC Brasil
Banrisul
2014
2015
2016
2017
2018
After 2018
464,6
464,6
464,6
206,5
134,2
123,9
-
-
-
-
-
-
-
-
-
-
140
Marketletter
Transmissora Sul Brasileira de Energia S.A.
Loans and financing
By activity
Generation
Transmission
By creditor
BNDES
2014
2015
2016
2017
2018
After 2018
4,9
4,9
4,9
4,9
19,7
19,7
19,7
19,7
19,7
19,7
19,7
19,7
19,7
19,7
19,7
19,7
19,7
19,7
19,7
19,7
180,3
180,3
180,3
180,3
2014
2015
2016
2017
2018
After 2018
-
185,4
185,4
185,4
185,4
-
-
-
2015
2016
2017
2018
After 2018
19,0
19,0
19,0
12,6
6,4
38,0
38,0
38,0
25,3
12,7
38,0
38,0
38,0
25,3
12,7
38,0
38,0
38,0
25,3
12,7
475,9
475,9
475,8
316,8
159,1
2018
After 2018
Teles Pires Participações
Loans and financing
By activity
Generation
Transmission
By creditor
BNDES
2.185,5
2.185,5
2.185,5
2.185,5
Santa Vitória do Palmar Holding S.A.
Loans and financing
2014
By activity
Generation
Transmission
By creditor
BNDES
BRDE
-
Norte Brasil Transmissora de Energia S.A.
Loans and financing
By activity
Generation
Transmission
By creditor
BNDES
2014
17,6
17,6
17,6
17,6
2015
2016
2017
190,12
190,12
190,12
190,12
120,11
120,11
120,11
120,11
107,01
107,01
107,01
107,01
95,19
95,19
95,19
95,19
533,13
533,13
533,13
533,13
Marumbi Transmissora de Energia S.A.
Loans and financing
By activity
Generation
Transmission
By creditor
BRDE
2014
2015
2016
2017
2018
After 2018
-
-
-
-
-
-
2014
2015
2016
2017
2018
After 2018
2,5
2,5
2,5
2,5
10,2
10,2
10,2
10,2
10,2
10,2
10,2
10,2
10,2
10,2
10,2
10,2
10,2
10,2
10,2
10,2
Livramento Holding S.A.
Loans and financing
By activity
Generation
Transmission
By creditor
BNDES
118,0
118,0
118,0
118,0
141
Marketletter
Empresa de Transmissão do Alto Uruguai S.A.
Loans and financing
By activity
Generation
Transmission
By creditor
BNDES
2014
2015
2016
2017
2018
After 2018
3,5
3,5
3,5
3,5
7,0
7,0
7,0
7,0
7,0
7,0
7,0
7,0
7,0
7,0
7,0
7,0
0.5
0.5
0.5
0.5
-
ESBR Participações S.A.
Loans and financing
By activity
Generation
Transmission
Energy Trading
By creditor
Banco do Nordeste do Brasil
Banco do Brasil
BNDES
Banco Itaú BBA
BASA
CEF
Bradesco
2014
187,1
187,1
187,1
4,1
26,5
93,1
17,9
26,5
19,1
2015
561,2
561,2
561,2
12,3
79,4
279,4
53,6
79,4
57,2
2016
561,2
561,2
561,2
12,3
79,4
279,4
53,6
79,4
57,2
2017
561,2
561,2
561,2
12,3
79,4
279,4
53,6
79,4
57,2
2018
561,2
561,2
561,2
12,3
79,4
279,4
53,6
79,4
57,2
2019
After 2019
561,2
561,2
561,2
12,3
79,4
279,4
53,6
79,4
57,2
8,231,3
8,231,4
8,231,3
180,2
1,164,3
4,098,3
785,9
1,164,3
838,3
Total
11,224,6
11,224,6
11,224,6
245,7
1,587,7
5,588,6
1,071,7
1,587,7
1,143,2
Chuí Holding S.A.
Loans and financing
By activity
Generation
Transmission
By creditor
Banco ABC Brasil S.A - SPEs
Banco ABC
Banrisul
2014
10,2
10,2
10,2
10,2
-
2015
100,2
100,2
100,2
50,1
50,1
2016
2017
2018
After 2018
-
-
-
-
2016
2017
2018
After 2018
Costa Oeste Transmissora de Energia S.A.
Loans and financing
By activity
Generation
Transmission
By creditor
BNDES
2014
0.3
0.3
0.3
0.3
2015
4,3
4,3
4,3
4,3
4,1
4,1
4,1
4,1
4,0
4,0
4,0
4,0
3,8
3,8
3,8
3,8
18,4
18,4
18,4
18,4
Chuí IX, Hermenegildo I, II and III and Coxiha Seca
Loans and financing
By activity
Generation
Transmission
By creditor
BNDES
2014
2015
2016
2017
2018
After 2018
-
-
-
-
-
-
142
Marketletter
14.Number of employees
(including requested employees from other Eletrobras companies/ excluding employees assigned to other
Eletrobras companies)
14.1.By tenure
Generation
Composition of employees by tenure (Years)
Up to 5
6 to 10
11 to 15
16 to 20
21 to 25
beyond 25
Total
1Q14
2Q14
42
35
5
1
9
1
93
3Q14
39
41
5
2
10
1
98
36
46
5
2
10
1
100
Transmission
Composition of employees by tenure (Years)
Up to 5
6 to 10
11 to 15
16 to 20
21 to 25
beyond 25
Total
1Q14
2Q14
3Q14
82
202
133
37
154
86
694
79
200
115
58
152
86
690
70
204
114
62
151
87
688
1Q14
2Q14
3Q14
168
126
61
2
133
61
551
155
135
51
14
134
61
550
141
148
50
15
135
60
549
Administration
Composition of employees by tenure (Years)
Up to 5
6 to 10
11 to 15
16 to 20
21 to 25
beyond 25
Total
14.2.By region
State
Santa Catarina
Rio Grande do Sul
Paraná
Mato Grosso do Sul
Rondônia
1Q14
Number of employees
2Q14
994
129
144
49
22
994
132
143
47
22
3Q14
995
133
142
45
22
14.3.By departments
Departments
Field
Administrative
1Q14
787
551
Number of employees
2Q14
788
550
3Q14
788
549
143
Marketletter
15.Complementary work force - N/A
16.Turn-over - %
1Q14
2Q14
3Q14
0.04
0.00
0.18
144
Marketletter
Balance Sheet
(R$ thousands)
Financial Statements for Consolidation Purposes
Assets
Current Assets
Availabilities
Clients (Consumers and Resellers)
Financing and Loans - Principal
Marketable Securities
Dividends to receive (Remuneration from equity participation)
Fiscal Assets diferred (taxes and contributions)
Income tax and Social Contribution
Linked deposits
Stored Materials
Financial Asset
Receivables – 12,783/13 law
Others
Current Assets Total
Non-Current Assets
Clients (Consumers and Resellers)
Financing and Loans - Principal
Marketable Securities
Fiscal Assets diferred (taxes and contributions)
Income tax and Social Contribution
Reimbursement Right – CCC (12,111 law)
Linked deposits
Financial Asset
Receivables – 12,783/13 law
Others
Advance to equity participation
INESTMENTS
FIXED ASSETS
INTANGIBLES
Non-Current Assets Total
Assets Total
09.30.14
09.30.13
4,963
43,957
19,255
29,326
3,904
101,405
6,278
72,033
22,735
100,201
41,775
243,022
19,741
43,285
8,078
114,489
185,593
1,551,201
1,455
9,989
11,776
21,765
1,641,965
1,679
1,738,249
1,839,654
1,665,409
1,908,431
145
Marketletter
Liabilities and Stockholders’ Equity
Current Liabilities
Suppliers
Loans and financing
Taxes and social contributions
Income tax and Social Contribution
Advance from clients (Advance sell of energy)
Remuneration to shareholders (dividends to pay)
Estimated Obligations
Provisions for Contingencies
Post-employment Benefit (Complementary Pension Fund)
Onerous Contracts
Concessions to pay - UBP
Sectorial Charges (regulatory taxes)
Incentive to personnel retirement
Others
Non-Current Liabilities
Suppliers
Loans and financing
Taxes and social contributions
Income tax and Social Contribution
Derivatives
Advance from clients (Advance sell of energy)
Estimated Obligations
Provisions for Contingencies
Provision for Onerous Contracts
Post-employment Benefit (Complementary Pension Fund)
Leasing
Sectorial Charges (regulatory taxes)
Advance for future capital increase
Incentive to personnel retirement
Others
Stockholders’ Equity
Social Capital
Capital reserve
Profit Reserve
Additional proposed Dividend
Accrued income (losses)
Other comprehensive income
Non-controlling shareholders participation
Stockholders’ Equity Total
Total Liabilities and Stockholders’ Equity
09.30.14
09.30.13
136,607
239,539
13,469
64,405
16,314
28,224
2,446
1,863
16,509
519,376
202,904
199,469
8,839
58,324
18,836
23,201
32
20,959
36,335
20,747
589,646
1,706,413
31,625
20,906
1,758,944
1,116,862
122,914
148,664
3,615
1,392,055
845,510
2,596
- 1,230,167
- 56,605
- 438,666
1,839,654
845,510
2,596
- 775,361
- 146,015
- 73,270
1,908,431
146
Marketletter
Statement of Income
(R$ thousands)
09.30.14
09.30.13
Operating Revenue
Supply
Supply
Short term Electric Energy
Other Operating Revenue
Deductions to Revenue
Net Operating Revenue
280,817
2,570
-31,877
251,510
210,230
2,869
-29,574
183,525
Operational Costs
Electric Energy purchased for resale
Charges on the use of electric grid
Fuel for production of electric Energy - CCC
Construction Cost
-138,200
-23,000
-7,614
-
-131,857
-19,249
-7,975
-
Operating Expenses
Personnel, material and third party services
Remuneration and Reimbursement
Depreciation and amortization
Donations and Contributions
Provisions
Others
Operating Costs and Expenses
-218,565
-54,723
-4,570
-3,954
-450,626
-212,166
-53,983
-40,974
-18,693
-484,897
Operating Result before Financial Result
-199,116
-301,372
Financial Result
Result before Income tax and Social Contribution
-141,822
-340,938
-56,803
-358,175
Current Income tax and Social Contribution
Diferred Income tax and Social Contribution
Net income for the period
-340,938
-358,175
147
Marketletter
Cash Flow
(R$ thousands)
Cash Flow
09.30.2014
09.30.2013
Operating Activities
Income before income tax, social contribution
Depreciation and amortization
Amortization of Intangible assets – Distribution / Transmission
Monetary / Exchange net variation
Financial Charges
Equity method result
Provision for uncovered liability
Provision for credits of questionable liquidation
Provision for contingencies
Provision for realignment of staff plan
Provision for impairment
Provision for onerous contract
Provision for losses of financial asset
Charges of reversal global reserve
Adjustment to present value / market value (sum to Others item)
Minority participation in the result
Charges on shareholders funds
Loss/Gain in the disposal of assets (sum to Others item)
Revenue of Financial Asset by IRR
Derivatives
Others
Increase/Decrease in operating assets/liabilities
Cash from operating activities
-340,938
54,723
-5,827
126,671
4,570
4,718
55,851
-84,167
-184,399
-358,175
57,839
-9,203
48,588
2,105
3,171
173
7,876
-247,626
Payment of financing charges
Payment of charges of reversal global reserve
Financial charges receiving
Receiving of investment remuneration on equity participation
Receiving of annual allowed revenue (financial asset)
Receiving of indemnities of financial asset
Payment of income tax and Social Contribution
Payment of complementary pension fund
Payment of lawsuit contingencies
Lawsuits deposits
Net cash from operating activities
-33,430
3,876
-213,953
-18,604
-849
-267,079
Financing Activities
Loans and Financing obtained
Payment of loans and Financing - Principal
Payment to shareholders
Payment of refinancing of taxes and social contributions - principal
Receiving of future capital increase
Others
Net cash from financing activities
392,033
-113,412
13,794
292,415
353,180
-125,234
60,395
288,341
Investment Activities
Fixed Asset Acquisition
Intangible Asset Acquisition
Concession Asset Acquisition
Concession of cash in advance for future capital Increase
Acquisition/Contribution of Capital in equity participation
Others
Net cash from Investment Activities
-90,570
-32
-90,602
-41,709
-70
-41,779
-12,140
-20,517
17,103
4,963
-12,140
26,795
6,278
-20,517
Increase (decrease) in cash and cash equivalent
Cash and cash equivalent – beginning of period - 12/31/13
Cash and cash equivalent – end of period – 03/31/14
148
Marketletter
Analysis of the result
3Q14 x 2Q14
The Company had a net loss in 3Q14 60% lower than reported in the previous quarter, from R$ (162.9) million in 2Q14 for R$ (65.1) million in
3Q14, primarily due to the factors described below.
Operating Revenue
The supply of electric energy increased by 16.7%, from R$ 90.6 million in 2Q14 to R$ 105.7 million in 3Q14, mainly due to the new power
purchase contract with Eletronorte that enabled the company were to become a creditor in the CCEE in 3Q14.
Operating Expenses
The expenses with personnel, material and third-part related services decreased by 15.4%, from R$ (84.9) million in 2Q14 for R$ (71.8) million
in 3Q14, mainly due to the reduction in third-part related services due to the reduced need for maintenance of the plants in 3Q14.
The electric energy purchased for resale decreased by 85.7%, from R$ (85.6) million in 2Q14 for R$ (12.2) million in 3Q14, ma inly due to
reduced exposure in CCEE due to contracts concluded with Eletronorte on power purchase.
Financial Result
The net foreign currency variations had increased 513.4%, from an expense of R$ (3.2) million in 2Q14 to an income of R$ 13,2 million in 3Q14,
due mainly to exchange rate variation occurred in the period that affects the commitment established in US dollars related to the purchases of
UTE Candiota III machines.
The debt charges had increased by 18.4%, from R$ (45) million in 2Q14 to R$ (53.2) million in 3Q14, mainly due to higher loan balance in 3Q14.
149
Marketletter
Market Data
1. Generation Assets and Energy generated
Installed
Capacity
(MW)
Unit
P. Médici (Candiota)
Candiota III – Fase C
S. Jerônimo (Candiota)
Nutepa (Candiota)
Total
Guaranteed
energy
(MW Average)
446
350
20
24
840
251,500
303,500
12,600
6,100
573,700
Location
(State)
Unit
Energy generated (MWh)
1Q14
2Q14
111,708,680
449,521,640
0,00
0,00
561,230,32
3Q14
109,236,18
575,398,52
684,634,70
Beginning of Operation
122,418,140
542,829,850
665,247,990
End of Concession
P. Médici (Candiota)
RS
Jan/74
Jul/15
Candiota III – Fase C
RS
Jan/11
Jul/41
S. Jerônimo (Candiota)
RS
Apr/53
Jul/15
Nutepa (Candiota)
RS
Feb/68
Jul/15
2. Electric energy purchased for resale
System
Eletrobras
Others
Total
Unit
1Q14
MWh
R$ million
MWh
R$ million
MWh
R$ million
2Q14
81,840,000
14,700
81,840,000
14,700
3Q14
359,640,000
64,690
359,640,000
64,690
298,080,000
47,773
298,080,000
47,773
3. Energy sold
Buyer
Eletrobras System
Others
Total
Sale
model
A 1ºLEN
A 2ºLEE
A 4ºLEE
B
A
B
A
B
1Q14
R$ million
120,937
28,820
10,422
160,179
-
MWh
639.436,163
229.561,421
77.009,024
946.006,608
-
2Q14
R$ million
123,457
26,017
9,114
158,588
-
MWh
639.478,838
202.989,578
66.306,220
908.774,64
3Q14
R$ million
126,386
27,932
9,698
164,017
MWh
644.736,000
213.081,329
68.637,344
926.454,673
A - Through auction
B - Through free market agreements or bilateral contracts
150
Marketletter
4. CCEE settlement (Spot and MRE)
Unit
R$ million
MWh
MWaverage
R$ million
MWh
MWaverage
R$ million
MWh
MWaverage
Sale
Purchase
Net
1Q14
2Q14
3Q14
-93,527
141,119,012
64,704
93,527
141,119,012
64,704
61,647
174,736,111
80,007
61,647
174,736,111
80,007
78,551
101,250,793
45,856
78,551
101,250,793
45,856
5. Fuel used to produce electricity
Type
Fuel oil
Diesel Oil
Coal
TOTAL
Unit
T
L
T
Amount
1Q14
3,740,689,980
10,000,00
614,885,798
R$
5,284,521,44
21,977,00
20,918,695,52
26.225.193,96
Amount
9,899,120,00
20,000,00
657,705,740
2Q14
R$
15,595,158,80
43,954,00
29,604,499,29
45.243.612,09
Amount
3Q14
9,026,120,00
12,600
617,906,80
R$
12,781,888,53
27,691,02
22,048,010,86
34.857.590,41
6. Losses in generation - %
P. Médici (Candiota)
Candiota III – Fase C
S. Jerônimo
Nutepa
1Q14
2Q14
3Q14
25.82
12.08
100
100
28.47
11.47
100
100
25.65
11.43
100
100
7. Average price– R$/MWh
1Q14
2Q14
3Q14
150.23
153.30
156.54
8. Extension of transmission lines - Km - N/A
9. Transmission losses - % - N/A
10. Main investments of parent company – R$ million
Project
Generation
Generation system Maintenance - MSGEE
Environmental impact mitigation
Phase A/B UPME revitalization
Other
Total
1Q14
1,546
2,394
846
56
4,842
2Q14
8,858
2,352
1,856
100
13,166
3Q14
2014 budget
2,872
3,210
591
2,465
9,138
74,000
50,237
113,370
4,000
241,607
11. New investments – N/A
151
Marketletter
12.Loans and financing – R$ million
Local currency – LC
Creditor
Balance
03.31.14
Eletrobras
Eletrobras
Eletrobras
Eletrobras
Eletrobras
Eletrobras
Eletrobras
Eletrobras
Eletrobras
Eletrobras
Eletrobras
Eletrobras
Eletrobras
Eletrobras
Eletrobras
Eletrobras
Eletrobras
Eletrobras
Eletrobras
Eletrobras
Eletrobras
Eletrobras
Eletrobras
Eletrobras
Eletrobras
Eletrobras
Eletrobras
Eletrobras
Eletrobras
Eletrobras
Eletrobras
Eletrobras
Eletrobras
Eletrobras
Eletrobras
Eletrobras
Eletrobras
Eletrobras
Eletrobras
Eletrobras
Eletrobras
Eletrobras
Eletrobras
Balance
06.30.14
539
155
102
84
25
56
39
10
14
10
43
30
202
9
43
13
44
14
21
36
11
27
26
41
20
15
5
8
44
5
-
Balance
06.30.14
548
156
104
77
24
58
40
11
14
11
44
32
209
9
44
14
45
14
21
37
11
28
27
42
20
15
5
8
45
5
37
7
7
34
7
22
37
-
523,501
108,918
92,189
69,774
22,515
59,469
41,620
10,761
14,428
11,010
45,696
32,344
214,594
9,282
45,708
14,156
46,467
14,377
22,007
38,458
11,613
29,042
27,470
43,123
20,879
15,426
5,516
8,305
44,699
4,646
36,996
7,112
6,508
34,320
6,882
22,403
36,483
22,058
49,643
7,185
51,311
10,177
6,881
Due Date
12/20/2021
06/20/2016
12/20/2022
01/30/2017
05/30/2018
12/30/2024
12/30/2024
12/30/2024
12/30/2024
12/30/2024
12/30/2024
12/30/2024
12/30/2024
12/30/2024
12/30/2024
12/30/2024
12/30/2024
12/30/2024
12/30/2024
12/30/2024
12/30/2024
12/30/2024
12/30/2024
12/30/2024
12/30/2024
12/30/2024
12/30/2024
12/30/2024
03/30/2017
03/30/2017
04/30/2018
04/30/2016
02/29/2016
03/30/2017
05/30/2016
05/30/2018
06/30/2018
30/09/2022
12/30/2021
06/30/2022
12/30/2020
09/30/2022
06/30/2022
Index
IPCA + Spread
IPCA + Spread
IPCA + Spread
5% py
5% py
Interest Rate+ 0.5% py
Interest Rate+ 0.5% py
Interest Rate+ 0.5% py
Interest Rate+ 0.5% py
Interest Rate+ 0.5% py
Interest Rate+ 0.5% py
Interest Rate+ 0.5% py
Interest Rate+ 0.5% py
Interest Rate+ 0.5% py
Interest Rate+ 0.5% py
Interest Rate+ 0.5% py
Interest Rate+ 0.5% py
Interest Rate+ 0.5% py
Interest Rate+ 0.5% py
Interest Rate+ 0.5% py
Interest Rate+ 0.5% py
Interest Rate+ 0.5% py
Interest Rate+ 0.5% py
Interest Rate+ 0.5% py
Interest Rate+ 0.5% py
Interest Rate+ 0.5% py
Interest Rate+ 0.5% py
Interest Rate+ 0.5% py
Interest Rate+ 0.5% py
Interest Rate+ 0.5% py
Interest Rate+ 0.5% py
Interest Rate+ 0.5% py
Interest Rate+ 0.5% py
Interest Rate+ 0.5% py
Interest Rate+ 0.5% py
Interest Rate+ 0.5% py
Interest Rate+ 0.5% py
Interest Rate+ 0.5% py
Selic
Interest Rate+ 0.5% py
Selic
Interest Rate+ 0.5% py
Interest Rate+ 0.5% py
Foreign currency – FC – N/A
13.Contracts
13.1.Loans and financing – R$ million
Loans and financing
By activity
Generation
By creditor
Eletrobras
2014
2015
2016
2017
2018
2019
After 2019
Total
69,019
274,077
268,058
252,344
222,887
205,370
654,197
1,945,952
69,019
274,077
268,058
252,344
222,887
205,370
654,197
1,945,952
152
Marketletter
14.Number of employees
(including requested employees from other Eletrobras companies/ excluding employees assigned to other
Eletrobras companies)
14.1.By tenure
Generation
Composition of employees
by tenure (Years)
Up to 5
6 to 10
11 to 15
16 to 20
21 to 25
beyond 25
Total
1Q14
2Q14
3Q14
255
59
25
25
146
510
260
58
1
25
24
147
515
262
58
1
25
4
164
514
1Q14
2Q14
3Q14
50
52
7
2
2
10
123
50
52
7
2
2
9
122
52
53
7
3
1
13
129
Administration
Composition of employees
by tenure (Years)
Up to 5
6 to 10
11 to 15
16 to 20
21 to 25
beyond 25
Total
14.2.By region
State
1Q14
Rio Grande do Sul
Number of employees
2Q14
637
637
1Q14
Number of employees
2Q14
3Q14
643
14.3.By departments
Department
Field
Administrative
511
126
3Q14
515
122
514
129
15.Complementary work force
Operational
1Q14
2Q14
559
558
3Q14
388
16.Turn-over - %
1Q14
2Q14
3.30
0.55
3Q14
0.55
153
Marketletter
2. Distribution Companies
Net
Operating
Revenue
Company
(R$ million)
Amazonas Energia
Distribuição Alagoas
Distribuição Piauí
Distribuição Rondônia
Distribuição Roraima
Distribuição Acre
Service
Result
Income/Loss for
the Period
(R$ million)
(R$ million)
EBITDA
(R$ million)
EBITDA
Margin (%)
2014
2013
2014
2013
2014
2013
2014
2013
2014
2013
2,413
758
701
852
142
270
1,902
652
746
802
137
254
-56
-150
-25
35
-67
73
-240
-100
-82
-30
21
16
-939
-189
-88
3
-71
30
-624
-119
-137
-62
23
-23
21
-126
-2
60
-60
84
-127
-81
-60
-7
27
24
0.88
-16.66
-0.22
7.01
-42.37
30.97
-6.68
-12.41
-7.98
-0.86
20.01
9.63
Eletrobras System Distribution
Company
Extension of
Distribution Lines
Amazonas Energia
Distribuição Acre
Distribuição Alagoas
Distribuição Piauí
Distribuição Rondônia
Distribuição Roraima
Number of Clients
assisted
44,492
19,297
40,794
87,308
57,698
3,503
860,545
239,653
1,008,015
1,133,744
575,364
101,559
Number of
municipalities
served
Number of
substations
62
22
102
224
52
01
54
15
41
83
57
03
Extension of Transmission Lines – Km
Company
Amazonas
Generation and Transmission Companies
Total
Own
SPEs
(a)
673
61,412
62,085
(b)
3,458
3,458
Physical aggregation in
2014
Total
(a+b)
1,178
1,178
673
64,870
65,543
Physical aggregation in
2014
Total
(b) Company's participation in the enterprise
Installed Capacity – MW
Company
Amazonas Energia
Distribuição Rondônia
Eletrobras
Generation and Transmission companies
Total
Own
SPEs
(a)
(b)
2,204
2,6
39,484
41,691
13
2,267
2,280
121
975
1,096
(a+b)
2,204
3
13
41,751
43,971
(b) Company's participation in the enterprise
Energy sold – MWh*
Amazonas Energia**
Distribuição Acre
Distribuição Alagoas
Distribuição Piauí
Distribuição Roraima
Distribuição Rondônia
Total
9M14
4,552,645
600,293
2,467,506
2,195,584
2,202,807
507,827
12,526,662
9M13
4,294,511
609,234
2,340,642
2,040,780
2,038,732
450,371
11,774,270
*Do not consider the “Own Consumption” amount.
** Do not consider the short term energy.
154
Marketletter
Balance Sheet
(R$ thousands)
Financial Statements for Consolidation Purposes
Asset
Current Assets
Availabilities
Clients (Consumers and Resellers)
Deferred fiscal asset (taxes and Contributions)
Income Tax and Social Contributions
Reimbursement rights - CCC (12,111 law)
Linked Deposits
Stored materials
Others
Current Assets Total
.
Non-current Assets
Clients (Consumers and Resellers)
Deferred fiscal asset (taxes and contributions)
Reimbursement rights - CCC (12,111 law)
Linked Deposits
Financial asset – Annual allowed revenue (Transmission)
Others
Advance for equity participation
INVESTMENT
FIXED ASSETS
INTANGIBLE ASSETS
Non-current Assets total
Assets total
Consolidated
09.30.14
09.30.13
139,027
402,404
37,551
240,312
308,703
1,127,997
147,694
361,528
33,491
8,947,242
128,194
118,888
9,737,037
69,256
1,980,476
13,375,410
299,091
3,253,445
9,072
18,986,750
7,678
1,201,146
136,040
20,331,614
21,459,611
44,974
1,567,354
239,814
2,645,366
191,355
4,688,863
7,678
1,245,167
574,274
6,515,982
16,253,019
155
Marketletter
Liabilities and Stockholders’ Equity
Consolidated
09.30.14
09.30.13
Current Liability
Suppliers
Loans and Financing
Taxes and Social Contribution
Income Tax and Social Contribution
Reimbursement Obligations- CCC (12,111 Law)
Costumers advance
Fuel Consumption Account - CCC
Shareholders remuneration (dividends to pay)
Estimated Obligations
Provisions for contingencies
Post-Employment Benefits (Complementary Pension Fund)
Leasing
Onerous Contracts
Sector charges
Incentive to Early Retirement
Others
Current Liability Total
7,965,935
910,205
32,623
1,659
70,690
1,332
192,579
134,396
9,309,419
4,479,547
433,433
42,241
6,981,540
55,117
1,098
176,056
509
24,377
168,920
12,362,838
Non-Current Liability
Suppliers
Loans and Financing
Taxes and Social Contribution
Income Tax and Social Contribution
Reimbursement rights - CCC (12,111 Law )
Costumers advance
Estimated obligations
Provisions for contingencies
Provision for Onerous Contracts
Post-Employment Benefits (Complementary Pension Fund)
Leasing
Concessions to pay - UBP
Sector charges (regulatory taxes)
Other Comprehensive Income
Advance for future capital increase
Others
Non-Current Liability Total
493,918
951,495
11,216,697
3,771
264,909
344,865
1,362
1,861,599
443,307
15,581,923
580,584
724,079
1,688,664
179,302
268,761
16,470
1,877,928
1,797
281,674
22,796
5,642,055
4,610,171
- 8,039,493
- 2,409
-
4,513,199
- 6,251,575
- 13,498
-
- 3,431,731
- 1,751,874
21,459,611
16,253,019
Stockholders’ Equity
Social Capital
Capital Reserves
Profit reserves
Additional proposed dividend
Acumulated profit/loss
Other Comprehensive Income
Non-Controlling shareholders participation
Stockholders’ Equity Total
Non-Current Liability and Stockholders’ Equity Total
156
Marketletter
Statement of Income
(R$ thousands)
Consolidated
09.30.14
09.30.13
Operating Revenue
Supply – Generation
Short term electric energy
Construction Plants Revenue
Electric Energy Supply - Distribution
Constructuion Revenue - Distribution
Other Operating Revenues
Deduction to Revenue
Net Operating Revenue
.
Operating Costs
Energy purchased for resale
Charges on electric grid usage
Construction Cost
Fuel
Operating Expenses
Personnel, Material and Third-part related Service
Remuneration and Reimbursement
Depreciation and Amortization
Donations and Contributions
Provisions
Others
Operating Expenses
.
Operating Result before Financial Result
.
Financial Result
Result before Income tax and Social Contribution
.
Current Income Tax and Social Contribution
Deferred Income Tax and Social Contribution
Net Profit of Period
826,118
1,135,812
51,879
448,606
229,903
202,499
-481,771
2,413,046
835,569
134,854
409,754
432,599
302,191
179,652
-392,615
1,902,004
-1,024,177
-40
-281,782
-111,078
-220,864
-711,945
-94,652
-466,303
-5,103
-77,343
-12,245
-491,019
-2,469,090
-460,420
-4,552
-112,570
-63,388
-473,309
-2,141,700
-56,044
-239,696
-883,185
-939,229
-384,160
-623,856
-939,229
-623,856
157
Marketletter
Cash Flow
(R$ thousands)
Cash Flow
09.30.2014
09.30.2013
OPERATING ACTIVITIES
Result before income tax and social contribution
Depreciation and amortization
Intangible Amortization – Distribution / Transmission
Monetary and Exchange net variations
Financing charges
Equity Method
Provision for uncovered liability
Provision for credits of doubtful liquidation
Provisions for contingencies
Provision for staff realignment
Provision for impairment of assets
Provision for losses with onerous contracts
Provision for Financial Asset loss
Global reversal reserve charges
Present value adjustment
Minority Participation in Result
Charges on shareholders funds
Loss/Gain in asset disposal (sum to Others item)
Financial asset revenue by IRR
Derivative financial instruments
Others
Variation in operating assets / liabilities
Net cash from operating activities
-866,539
77,343
-1,097
360,319
-18,239
-23,391
27,221
281,093
-163,290
-623,856
112,570
-949
346,636
80,142
-42,928
132,220
500,244
504,079
Financing charges – payment
Payment of charges of global reversal reserve
Financial charges receivable
Remuneration from equity participation
Financial asset revenue by AAR
Financial Asset on receiving indemnities
Payment of income tax and social contribution
Complementary pension fund payment
Lawsuits payment
Legal deposits
Net cash from Operational activities
-97,771
-28,878
-289,939
-67,199
-49,752
387,128
797,457
-145,992
651,465
253,198
-124,845
128,353
-7,255
-10,252
-289,648
-307,155
-29,040
-6,912
-722,502
-10
-758,464
54,371
-242,983
84,656
139,027
54,371
390,677
147,694
-242,983
FINANCING ACTIVITIES
Loans and financing obtained
Loans and financing payable - principal
Payment of Shareholders remuneration
Loans and financing amortization - principal
Capital increase - receivable
Others
Net cash from financing activities
INVESTMENT ACTIVITIES
Fixed Asset acquisition
Intangible acquisition
Acquisition of Concession Asset
Advance for future capital increase
Acquisition of equity participation investment
Others
Net Cash from investment activities
Increase (Decrease) in Cash and Cash Equivalents
Cash and cash equivalents at beginning of the period – 12/31/13
Cash and cash equivalents at end of the period – 03/31/14
158
Marketletter
Analysis of the result
3Q14 x 2Q14
The Company presented a net loss in 3Q14, 15.6% higher than that registered in the previous quarter, from R$ (251.7) million in 2Q14 for R$
(290.8) million in 3Q14, primarily due to the factors described below.
Operating Revenue
In generation:
The electric energy supply in generation increased by 6.4%, from R$ 270.2 million in 2Q14 to R$ 287.5 million in 3Q14 due to the increase in the
volume of energy traded.
The short-term electricity decreased by 45.5%, from R$ 563.5 million in 2Q14 to R$ 307.4 million in 3Q14, mainly due to reduced energy traded
in settlement (PLD).
In distribution:
The supply of electric energy in distribution increased by 13.1%, from R$ 148.9 million in 2Q14 to R$ 168.4 million in 3Q14, primarily due to
increased volume of energy traded.
Operating Expenses
The expenses with personnel, material and services presented an increase of 6.9%, from R$ (147.9) million in 2Q14 to R$ (158.2) million in
3Q14, primarily due to increased personnel expenses and third-part related services.
The electricity purchased for resale decreased by 67.5% from R$ (542.6) million in 2Q14 to R$ (176.1) million in 3Q14, due mainly due to the
reduction of financial exposure to short-term market and the lowest value of the PLD.
The expenses with fuel increased by 50.2%, from R$ (21.1) million in 2Q14 for R$ (31.8) million in 3Q14, primarily due to higher thermal
generation.
The operational provisions had increased 255%, from a reversal of R$ 41.1 million in 2Q14 to a provision of R$ (65) million in 3Q14, mainly due
to non-payment of electricity purchased for resale from independent producers.
Financial Result
The debt charges had increased by 16.0%, from R$ (38.2) million in 2Q14 to R$ (44.3) million in 3Q14, mainly due to loan agreement with
Eletrobras in 3Q14.
The charges from leasing decreased by 25.7%, from R$ (68.4) million in 2Q14 to R$ (50.8) million in 3Q14, mainly due to the IGP-M.
The others financial income decreased by 31.3%, from R$ 31.6 million in 2Q14 to R$ 21.7 million in 3Q14, mainly due to the reduction of fines
over electric energy sales.
The other financial expenses increased 36.8%, from R$ (209.2) million in 2Q14 to R$ (286.1) million in 3Q14, mainly due to the fine related to
delays along Cigás.
159
Marketletter
Market Data
1.Generation Assets and Energy generated
Own assets
Unit
Parintins
Itacoatiara
Manacapuru
Barreirinha
Coari
Maués
HuMaytá
Urucará
Benjamin Constant
Tefé
Manicoré
Autazes
Codajás
Eirunepé
Nova O. do Norte
Atalaia do Norte
Barcelos
Lábrea
São P. de Olivença
Santo Antônio do Içá
Carauari
Fonte Boa
Boca do Acre
São G. da Cachoeira
Itapiranga
Anori
Silves
Augusto Montenegro
Nhamundá
Tabatinga
Novo Aripuanã
Borba
Santa I.do Rio Negro
Jutaí
Novo Airão
Ipixuna
Envira
Cucuí
Japurá
Maraã
Juruá
Tapauá
Canutama
Pauini
Careiro
Amaturá
Estirão do Equador
Palmeiras
Ipiranga
Vila Bittencourt
Iauaretê
São S. do Uatumã
Tonantins
Alvarães
Beruri
Caapiranga
Uarini
Urucurituba
Fuel
Biodiesel
Biodiesel
Biodiesel
Biodiesel
Biodiesel
Biodiesel
Biodiesel
Biodiesel
Biodiesel
Biodiesel
Biodiesel
Biodiesel
Biodiesel
Biodiesel
Biodiesel
Biodiesel
Biodiesel
Biodiesel
Biodiesel
Biodiesel
Biodiesel
Biodiesel
Biodiesel
Biodiesel
Biodiesel
Biodiesel
Biodiesel
Biodiesel
Biodiesel
Biodiesel
Biodiesel
Biodiesel
Biodiesel
Biodiesel
Biodiesel
Biodiesel
Biodiesel
Biodiesel
Biodiesel
Biodiesel
Biodiesel
Biodiesel
Biodiesel
Biodiesel
Biodiesel
Biodiesel
Biodiesel
Biodiesel
Biodiesel
Biodiesel
Biodiesel
Biodiesel
Biodiesel
Biodiesel
Biodiesel
Biodiesel
Biodiesel
Biodiesel
BS1800
BS1800
BS1800
BS1800
BS1800
BS1800
BS1800
BS1800
BS1800
BS1800
BS1800
BS1800
BS1800
BS1800
BS1800
BS1800
BS1800
BS1800
BS1800
BS1800
BS1800
BS1800
BS1800
BS1800
BS1800
BS1800
BS1800
BS1800
BS1800
BS1800
BS1800
BS1800
BS1800
BS1800
BS1800
BS1800
BS1800
BS1800
BS1800
BS1800
BS1800
BS1800
BS1800
BS1800
BS1800
BS1800
BS1800
BS1800
BS1800
BS1800
BS1800
BS1800
BS1800
BS1800
BS1800
BS1800
BS1800
BS1800
Intalled
Capacity
(MW)
33.16
34.83
28.93
3.71
20.85
12.43
15.37
4.67
7.32
18.2
7.67
6.07
7
10.62
6.52
1.19
4.87
9.54
3.79
3.22
7.18
6.23
8.22
8.42
3.06
4.16
2.5
0.6
4.58
15.43
5.69
3.6
2.42
6.18
5.27
3.04
3.38
0.57
0.18
3.69
2.49
3.71
2.23
2.62
2.5
1.8
0.72
0.72
0.42
0.57
1
2.64
3.46
2.72
2.97
2.06
1.94
2.84
Guaranteed
Energy
(MW
average)
10.083
6.328
10.868
0.729
7.572
3.822
4.661
1.484
2.549
6.783
2.489
1.753
1.653
1.996
1.996
0.05
1.367
2.611
0.986
1.04
2.036
1.662
2.538
3.021
0.985
1.073
0.498
0.055
0.961
5.336
1.584
1.851
0.676
1.182
1.206
0.597
0.856
0.073
0.044
0.628
0.462
1.155
0.613
0.698
0.859
0.446
45.207
0.053
0.054
0.068
0.178
0.638
0.944
0.641
0.756
0.493
0.615
0.787
Energy Generated (MWh)
1Q14
25,635
22,865
0
2,935
19,607
9,597
12,494
3,272
6,834
17,844
6,139
5,907
2,886
4,876
4,942
0
3,511
7,470
2,510
2,776
5,380
3,781
6,647
7,992
2,361
1,215
1,712
175
2,562
12,973
3,972
4,874
1,726
2,794
3,441
1,499
2,380
200
137
1,805
1,335
2,914
1,519
1,878
1,783
1,189
108
92
118
138
197
1,526
1,799
1,950
2,171
2,637
1,885
2,755
2Q14
26,634
24,636
0
3,043
21,982
10,180
12,460
3,399
7,180
18,513
6,989
5,734
4,580
5,456
5,242
0
3,644
7,740
2,650
2,959
5,699
3,684
7,024
8,261
2,434
2,892
1,773
181
2,783
14,030
4,052
5,244
1,798
2,839
3,735
1,690
2,432
243
141
2,100
1,546
3,493
1,621
2,022
1,942
1,323
142
99
134
132
239
1,536
2,041
2,138
2,510
2,001
2,073
2,835
3Q14
30,285
29,572
0
3,483
23,591
11,304
14,435
3,915
7,157
20,513
7,489
6,137
4,952
5,456
5,862
0
3,994
8,084
2,732
3,156
5,818
4,044
7,302
7,941
2,768
3,375
1,867
182
3,360
14,497
4,645
5,671
1,861
3,259
4,037
1,774
2,462
219
161
2,258
1,594
3,969
1,766
2,111
1,977
1,407
138
107
114
132
254
1,714
2,059
2,165
2,660
2,191
2,091
3,035
160
Marketletter
Unit
Pedras
Anamã
Itamarati
Castanho
Rio Preto da Eva
Limoeiro
Boa Vista do Ramos
Manaquiri
Caviana
Campinas
Caiambé
Murituba
Apuí
Mocambo
Belém do Solimões
Itapeaçú
Caborí
Cametá
Sacambú
Novo Remanso
Tuiué
Jacaré
Novo Céu
Zé Açú
Vila Amazônia
Terra Nova
Axinim
Vila Urucurituba
Arara
Feijoal
Lindoia
Moura
Santana
Sucunduri
Carvoeiro
Itapuru
Betânia
Vila de Matupí
Auxiliadora
Tamaniquá
Santa Rita Well
Parauá
Belo Monte
Vila de Alterosa
Camaruã
UHE Balbina
UTE Aparecida
UTE Mauá
UTE Electron
UT CO Cidade Nova
UT AS São José
UT FO Flores
UTE Distrito
UTE Iranduba
Total
Fuel
Biodiesel
Biodiesel
Biodiesel
Biodiesel
Biodiesel
Biodiesel
Biodiesel
Biodiesel
Biodiesel
Biodiesel
Biodiesel
Biodiesel
Biodiesel
Biodiesel
Biodiesel
Biodiesel
Biodiesel
Biodiesel
Biodiesel
Biodiesel
Biodiesel
Biodiesel
Biodiesel
Biodiesel
Biodiesel
Biodiesel
Biodiesel
Biodiesel
Biodiesel
Biodiesel
Biodiesel
Biodiesel
Biodiesel
Biodiesel
Biodiesel
Biodiesel
Biodiesel
Biodiesel
Biodiesel
Biodiesel
Biodiesel
Biodiesel
Biodiesel
Biodiesel
BS1800
BS1800
BS1800
BS1800
BS1800
BS1800
BS1800
BS1800
BS1800
BS1800
BS1800
BS1800
BS1800
BS1800
BS1800
BS1800
BS1800
BS1800
BS1800
BS1800
BS1800
BS1800
BS1800
BS1800
BS1800
BS1800
BS1800
BS1800
BS1800
BS1800
BS1800
BS1800
BS1800
BS1800
BS1800
BS1800
BS1800
BS1800
BS1800
BS1800
BS1800
BS1800
BS1800
BS1800
Água
OCTE, GN
Bloco 1 - OC1A / Bloco 3
Gás Natural (Alternativo
OCTE) / Bloco4 – OPGE
/ Bloco 5 – Biodiesel /
Bloco 6 – Biodiesel /
Bloco 7 - Biodiesel
OCTE
Diesel/Biodiesel
Diesel/Biodiesel
Diesel/Biodiesel
Biodiesel (B S1800)
Diesel/Biodiesel
Intalled
Capacity
(MW)
Guaranteed
Energy
(MW
average)
0.57
1.73
2.56
12.72
11.21
1.79
2.31
3.01
0.58
0.43
0.88
0.3
7.19
0.89
0.84
0.85
0.78
0.612
0.448
4.06
0.71
0.34
1
0.102
0.54
0.405
4.195
3.389
0.335
0.738
1.118
0.122
0.06
0.121
0.033
1.381
0.188
0.213
0.153
0.095
0.136
0.064
1.331
0.096
0.164
0.404
2.08
0.341
0.66
0.38
0.332
0.778
1
0.52
0.31
0.16
0.33
0.31
0.43
1.85
0.468
0.468
0.62
0.568
0.246
0.33
0.107
0.059
0.052
0.062
0.304
0.065
0.051
0.048
0.016
0.02
0.111
0.619
0.079
0.079
0.183
0.096
0.044
0.067
277.5
282.5
Energy Generated (MWh)
1Q14
2Q14
3Q14
132.3
150.0
291
785
1,270
12,166
9,633
1,005
2,571
3,290
329
176
386
73
3,521
0
438
0
755
0
225
4,455
276
569
1,740
0
1,285
0
307
148
142
210
888
158
116
128
44
67
264
1,907
239
65
512
224
114
225
101
283,428
295,750
321
1,826
1,371
13,163
10,126
1,009
2,714
3,707
344
198
399
78
4,097
0
448
0
828
0
236
4,849
341
589
1,740
0
1,227
0
333
150
159
265
1,035
166
139
159
48
83
235
1,993
247
65
510
245
117
260
103
251,959
301,358
332
1,935
1,427
13,536
10,807
1,062
2,828
3,969
348
219
388
77
4,341
0
438
0
910
0
252
4,839
308
769
1,740
0
1,455
0
302
150
159
236
1,070
197
152
189
51
91
270
2,295
275
63
469
242
124
253
116
437,394
302,117
738.1
311.0
398,686
369,361
407,293
121.1
29.6
73.4
124.7
51.3
66.6
2,204.22
18.0
19.4
47.5
78.3
38.3
47.1
1,012.0
809
13,839
40,054
78,129
36,129
40,323
1,493,966
4,339
20,285
45,019
104,490
45,778
62,150
1,528,095
18,288
17,521
34,389
84,677
31,119
47,607
1,729,862
161
Marketletter
Unit
Parintins
Itacoatiara
Manacapuru
Barreirinha
Coari
Maués
HuMaytá
Urucará
Benjamin Constant
Tefé
Manicoré
Autazes
Codajás
Eirunepé
Nova Olinda do Norte
Atalaia do Norte
Barcelos
Lábrea
São Paulo de Olivença
Santo Antônio do Içá
Carauari
Fonte Boa
Boca do Acre
São Gabriel da Cachoeira
Itapiranga
Anori
Silves
Augusto Montenegro
Nhamundá
Tabatinga
Novo Aripuanã
Borba
Santa Isabel do Rio Negro
Jutaí
Novo Airão
Ipixuna
Envira
Cucuí
Japurá
Maraã
Juruá
Tapauá
Canutama
Pauini
Careiro
Amaturá
Estirão do Equador
Palmeiras
Ipiranga
Vila Bittencourt
Iauaretê
São Sebastião do Uatumã
Tonantins
Alvarães
Beruri
Caapiranga
Uarini
Urucurituba
Pedras
Anamã
Itamarati
Castanho
Rio Preto da Eva
Limoeiro
Boa Vista do Ramos
Location
(State)
Amazonas
Amazonas
Amazonas
Amazonas
Amazonas
Amazonas
Amazonas
Amazonas
Amazonas
Amazonas
Amazonas
Amazonas
Amazonas
Amazonas
Amazonas
Amazonas
Amazonas
Amazonas
Amazonas
Amazonas
Amazonas
Amazonas
Amazonas
Amazonas
Amazonas
Amazonas
Amazonas
Amazonas
Amazonas
Amazonas
Amazonas
Amazonas
Amazonas
Amazonas
Amazonas
Amazonas
Amazonas
Amazonas
Amazonas
Amazonas
Amazonas
Amazonas
Amazonas
Amazonas
Amazonas
Amazonas
Amazonas
Amazonas
Amazonas
Amazonas
Amazonas
Amazonas
Amazonas
Amazonas
Amazonas
Amazonas
Amazonas
Amazonas
Amazonas
Amazonas
Amazonas
Amazonas
Amazonas
Amazonas
Amazonas
Beginning of Operation
Dec/65
Sep/66
Jan/67
Jun/67
Sep/67
Dec/67
Jul/68
Jun/68
Aug/68
Aug/68
May/69
Jun/69
Sep/69
Sep/69
Oct/69
Mar/70
Jul/70
Aug/70
Jan/71
Jan/71
Jan/71
Jan/71
Feb/71
Mar/71
Oct/71
Oct/71
Oct/71
Oct/71
Nov/71
Nov/71
Jun/72
May/72
Oct/72
May/72
Jul/73
Jul/73
Aug/73
Oct/73
Oct/73
Oct/73
Oct/73
Dec/73
Dec/73
Sep/74
Sep/74
Nov/74
Dec/74
Dec/74
Jan/75
Dec/75
Apr/75
Apr/75
Apr/75
May/75
Dec/75
Jan/75
Feb/76
Jan/75
Aug/76
Jan/76
Feb/76
Dec/79
Jun/04
Nov/82
Mar/86
End of Operation
Undefined
Undefined
Undefined
Undefined
Undefined
Undefined
Undefined
Undefined
Undefined
Undefined
Undefined
Undefined
Undefined
Undefined
Undefined
Undefined
Undefined
Undefined
Undefined
Undefined
Undefined
Undefined
Undefined
Undefined
Undefined
Undefined
Undefined
Undefined
Undefined
Undefined
Undefined
Undefined
Undefined
Undefined
Undefined
Undefined
Undefined
Undefined
Undefined
Undefined
Undefined
Undefined
Undefined
Undefined
Undefined
Undefined
Undefined
Undefined
Undefined
Undefined
Undefined
Undefined
Undefined
Undefined
Undefined
Undefined
Undefined
Undefined
Undefined
Undefined
Undefined
Undefined
Undefined
Undefined
Undefined
162
Marketletter
Location
(State)
Unit
Manaquiri
Caviana
Campinas
Caiambé
Murituba
Apuí
Mocambo
Belém do Solimões
Itapeaçú
Caborí
Cametá
Sacambú
Novo Remanso
Tuiué
Jacaré
Novo Céu
Zé Açú
Vila Amazônia
Axinim
Vila Urucurituba
Arara
Feijoal
Lindoia
Moura
Santana
Sucunduri
Carvoeiro
Itapuru
Betânia
Vila de Matupí
Auxiliadora
Santa Rita Well
Parauá
Belo Monte
Vila de Alterosa
UHE Balbina
UTE Aparecida
UTE Mauá
UTE Electron
UT CO Cidade Nova
UT AS São José
UT FO Flores
UTE Distrito
UTE Iranduba
Beginning of Operation
Amazonas
Amazonas
Amazonas
Amazonas
Amazonas
Amazonas
Amazonas
Amazonas
Amazonas
Amazonas
Amazonas
Amazonas
Amazonas
Amazonas
Amazonas
Amazonas
Amazonas
Amazonas
Amazonas
Amazonas
Amazonas
Amazonas
Amazonas
Amazonas
Amazonas
Amazonas
Amazonas
Amazonas
Amazonas
Amazonas
Amazonas
Amazonas
Amazonas
Amazonas
Amazonas
Amazonas
Amazonas
Amazonas
Amazonas
Amazonas
Amazonas
Amazonas
Amazonas
Amazonas
Jun/84
Jul/86
Jul/86
Aug/76
Aug/86
Sep/86
Mar/87
Mar/87
Mar/87
Sep/92
Sep/92
Dec/92
Aug/98
Sep/98
Aug/98
Aug/98
Sep/98
Sep/98
Oct/98
May/99
Apr/00
Feb/00
Jul/00
Apr/04
Jul/05
Oct/06
Mar/06
Oct/10
Jul/06
Aug/06
Oct/06
Nov/06
Sep/03
Oct/06
Oct/06
Jan/89
Feb/84
Apr/73
Jun/05
Aug/08
Feb/08
Aug/08
Oct/10
Nov/10
End of Operation
Undefined
Undefined
Undefined
Undefined
Undefined
Undefined
Undefined
Undefined
Undefined
Undefined
Undefined
Undefined
Undefined
Undefined
Undefined
Undefined
Undefined
Undefined
Undefined
Undefined
Undefined
Undefined
Undefined
Undefined
Undefined
Undefined
Undefined
Undefined
Undefined
Undefined
Undefined
Undefined
Undefined
Undefined
Undefined
Mar/27
Undefined
Undefined
Undefined
Undefined
Undefined
Undefined
Undefined
Undefined
2. Electric energy purchased for resale
System
Eletrobras (Guajará)
Others (PIE'S-Independent
Producer.- Self producer)
Total
Unit
MWh
R$ million
MWh
R$ million
MWh
R$ million
1Q14*
1,490
3,1
673,823
21,7
675,313
24,8
2Q14*
3Q14
1.471
690.572
24,3
692,043
24,3
1.566
-1,5
687.838
26,7
689,404
25,2
*Do not include the energy traded on short term market
163
Marketletter
3 .Energy sold
1Q14
Distribution to
2Q14
3Q14
R$ million
MWh
R$ million
124,0
80,1
460.793
443.444
127,0
78,3
479.342
427.642
173,5
104,4
531.763
463.765
76,9
301.043
81,4
320.395
107,2
344.854
3,0
29,0
4,8
8,5
264,9
591,20
19.924
132.084
32.905
51.237
567.433
2,008,863.00
3,0
32,2
6,5
8,1
563,5
900,00
19.643
149.118
43.908
49.312
644.979
2,134,339.00
3,8
43,8
8,1
10,3
307,4
758,50
20.172
167.182
44.603
49.516
438.137
2,059,992.00
Residential
Industrial
Commercial, Service
and Other Activities
Rural
Public Utilities
Public Ilumination
Public Service
CCEE Others
Total
MWh
R$ million
MWh
4. Number of Consumer Units Serviced
1Q14
2Q14
3Q14
837,609
848,613
860,545
5. Network Expansion - number of new connections
1Q14
2Q14
3Q14
14,765
6,968
3,876
1Q14
2Q14
3Q14
54
54
54
6. Substations
7. Fuel used to produce electricity
Type
Unit
Diesel oil
Litre
Amount
1Q14
R$ Million
100,773,392
960.5
Amount
2Q14
3Q14
R$ Million
R$ Million
Amount
1,074.3
92,334,839.90
152,682,088
1,026.1
8. Losses - %
1Q14
Technical
2.44
2Q14
Commercial
Commercial
Technical
35.42
1.5
37.08
Extension
(km)
Tension
(kV)
Technical
1.00
3Q14
Commercial
39.20
9. Extension of transmission lines
From-To
Balbina–Cristiano Rocha
Manaus–Cristiano Rocha
Ramal de Transmissão–Presidente Figueiredo
Balbina – Manaus I
Balbina – Balbina – Circuito 1
Balbina – Balbina – Circuito 2
Balbina – Balbina – Circuito 3
Balbina – Balbina – Circuito 4
Balbina – Balbina – Circuito 5
158.513
22.704
0.124
180.344
0.590
0.635
0.635
0.680
0.680
230
230
230
230
230
230
230
230
230
Beginning of
Operation
End of
Concession
Nov/06
Nov/06
Sep/08
May/89
Feb/89
Apr/89
Apr/89
Sep/89
Jul/89
Mar/27
Mar/27
Mar/27
Mar/27
Mar/27
Mar/27
Mar/27
Mar/27
Mar/27
164
Marketletter
Subtransmition
Line
Extension
(Km)
Tension
(kV)
Beginning of
Operation
End of Concession
Manaus I – São José
Manaus I – Mauá
Manaus I – Distrito I – Circuito 1
Manaus I – Distrito I – Circuito 2
Manaus I – V8 – Circuito 1
Manaus I – V8 – Circuito 2
Manaus I – Cachoeirinha
Manaus I – Seringal Mirim – Circuito 1
Manaus I – Seringal Mirim – Circuito 2
Manaus I– Flores – Circuito 1
Manaus I – Flores – Circuito 2
Manaus I – Flores – Circuito 3
Manaus I – Cidade Nova
Manaus I – Santo Antônio
Flores – Redenção
Redenção – Ponta Negra
Flores – Ponta Negra
Aparecida – Ponta Negra
Aparecida – Seringal Mirim
Aparecida – Cachoeirinha
Aparecida – El Paso
Mauá – Distrito I – Circuito 1
Mauá – Distrito I – Circuito 2
Mauá – Distrito II – Circuito 1
Mauá – Distrito II – Circuito 2
Mauá – Marapatá
Marapatá – Cachoeirinha
Mauá – Cidade Nova
Mauá – Mauá Geração – Circuito 1
Mauá – Mauá Geração – Circuito 2
Mauá – El Paso
Mauá Geração – São José
Mauá Geração – Consumidores Especiais
Eletro – Cachoeirinha
Distrito I – Consumidores Especiais
Distrito II – Cachoeirinha – Circuito 1
Distrito II – Cachoeirinha – Circuito 2
Seringal Mirim – Cachoeirinha
Santo Antônio – Sivam
Ponta Do Ismael – Iranduba
Flores – Ambev
Iranduba – Manacapuru
Total
7.285
11.815
4.685
4.682
1.160
1.160
6.112
6.649
7.277
4.460
4.565
4.810
7.463
9.516
1.469
4.515
5.959
8.610
3.796
3.994
0.153
7.481
6.728
4.122
4.107
6.489
2.894
26.016
0.533
0.226
0.200
8.924
9.362
0.357
7.723
7.421
7.830
3.980
5.326
18.043
0.161
70.000
308.058
69
69
69
69
69
69
69
69
69
69
69
69
69
69
69
69
69
69
69
69
69
69
69
69
69
69
69
69
69
69
69
69
69
69
69
69
69
69
69
69
69
69
Feb/01
Oct/91
Oct/91
Nov/06
Oct/91
Oct/91
Jul/92
Sep/97
Oct/97
Feb/89
Nov/01
Dec/07
Jan/96
Apr/05
Nov/08
Nov/08
Dec/07
Jul/83
Feb/97
Apr/05
Nov/99
Apr/77
Apr/99
Nov/97
Apr/04
Nov/11
Nov/11
Aug/06
Feb/04
Feb/04
Mar/04
Mar/04
Jul/04
Jan/81
Mar/96
Nov/97
Sep/11
Feb/97
Mar/95
Jun/06
Mar/03
Aug/12
Jul/15
Jul/15
Jul/15
Jul/15
Jul/15
Jul/15
Jul/15
Jul/15
Jul/15
Jul/15
Jul/15
Jul/15
Jul/15
Jul/15
Jul/15
Jul/15
Jul/15
Jul/15
Jul/15
Jul/15
Jul/15
Jul/15
Jul/15
Jul/15
Jul/15
Jul/15
Jul/15
Jul/15
Jul/15
Jul/15
Jul/15
Jul/15
Jul/15
Jul/15
Jul/15
Jul/15
Jul/15
Jul/15
Jul/15
Jul/15
Jul/15
Jul/15
9.1. Extension of distribution lines – 09.30.14
1Q14
44,420
2Q14
44,462
3Q14
45,492
10. DEC - Duration of interruptions - in hours
1Q14
2Q14
3Q14
13.28
14.61
16.37
11. FEC – Frequency of interruptions – Number of outages
1Q14
2Q14
3Q14
8.72
10.31
10.39
165
Marketletter
12. TMA – Average response time – in minutes
1Q14
2Q14
3Q14
296.01
257.95
282.28
13. Average price– R$/MWh
1Q14
2Q14
3Q14
277.64
278.10
278.32
14. Main investments – R$ million
Project
1Q14
Distribution
Extension of Urban distribution
“Light for All” Program
Maintenance of the distribution system
Maintenance of the urban network
Others (infrastructure)
Generation
Total
68,64
22,96
24,94
9,67
11,07
2,89
0.79
72,32
2Q14
3Q14
Budget 2014
73,71
28,67
29,18
6,85
9,01
1,88
0.46
76,05
62,86
20,10
25,92
8,90
7,92
6,43
0.43
69,72
733,36
319,11
173,44
150,17
90,64
24,47
16,26
774,09
15. New Investments
15.1. Generation
15.1.1. Own assets
Unit
Location
(State)
Total of
Investment
(R$ million)
Amount
invested (R$
million)
TEU Mauá 3
Amazonas
1,114.33
527.4
Installed
Capacity (MW)
Open
Comb.
cycle
cycle
379.76
589.61
Assured Energy
(MW average)
Open
Comb.
cycle
cycle
375.0
570.4
Beginning of
Operation
Open
Comb.
cycle
cycle
Sep/15 May/16
Beginning of
Construction
Sep/12
16. Loans and financing – R$ million
Creditor
Eletrobras
Balance
03.31.14
1,455.7
Balance
06.30.14
1,435.7
Balance
09.30.14
1,861.7
Due Date
Index
01/2024
RGR
166
Marketletter
17. Contract obligations – 09.30.14
2014
Loans and financing
R$ million
Energy Purchase
Contracts
R$ million
MWh
2015
910,2
2014
584,173
2,680,881.17
72,2
2015
614,514
2,671,800.00
2016
206,7
2016
642,989
2,679,120.00
2017
213,8
2017
694,668
2,671,800.00
2018
146,6
2018
721,386
2,671,800.00
After 2018
312,2
After 2018
5,357,085
13,592,305.00
18. Default – more than 90 days – 09.30.14
Class
R$
State utilities
Industrial
Residential
Commercial
Rural
Public Utilities
Public Ilumination
Public Service
Others
Total
19.Number of employees
19,203,369.19
25,937,817.52
13,462,467.69
2,195,755.20
16,462,608.52
989,482.09
18,736,418.85
2,357.15
96,990,276.21
(including requested employees from other Eletrobras companies/ excluding employees assigned to other
Eletrobras companies)
19.1.By tenure
Generation and transmission
Composition of employees by tenure
(Years)
Up to 5
6 to 10
11 to 15
16 to 20
21 to 25
beyond 25
Total
1Q14
76
298
80
124
114
208
900
2Q14
47
257
71
186
116
229
906
3Q14
21
283
56
197
119
231
907
Distribution
Composition of employees by tenure
(Years)
Up to 5
6 to 10
11 to 15
16 to 20
21 to 25
beyond 25
Total
1Q14
73
229
55
81
72
185
695
2Q14
3Q14
45
229
23
87
107
202
693
26
246
13
94
103
209
691
167
Marketletter
Administration
Tenure (years)
Up to 5
6 to 10
11 to 15
16 to 20
21 to 25
Beyond 25
Total
1Q14
2Q14
3Q14
56
204
41
52
64
132
549
110
239
6
36
37
105
533
60
279
3
34
40
108
524
1Q14
Number of employees
2Q14
3Q14
2,144
2,132
2,122
1Q14
Number of employees
2Q14
3Q14
19.2. By region
State
Amazonas
19.3. By departments
Department
Field
Administrative
1,595
549
1,599
533
1,598
524
20.Complementary work force
Operational
1Q14
2Q14
3Q14
1,740
1,740
1,740
21.Turn-over - %
1Q14
2Q14
3Q14
0.37
0.61
0.19
168
Marketletter
Balance Sheet
(R$ thousands)
Financial Statements for Consolidation Purposes
Asset
09.30.14
09.30.13
24,587
69,662
8,373
544
5,880
462
1,782
27,610
138,900
87,767
42,425
10,380
101,911
515
3,133
26,681
272,812
INVESTMENT
FIXED ASSET
INTANGIBLE
19,533
2,929
245,616
5,516
302,627
86
576,307
6,458
38,874
13,516
3,568
17,869
332,534
367,487
7,114
54,543
Non-Current Asset Total
Total Asset
621,639
760,539
429,144
701,956
Current Assets
Availabilities
Clients (Consumers and Resellers)
Deferred Fiscal Assets (taxes and Contributions)
Income Tax and Social contributions
Reimbursement rights – CCC (12,111 law)
Linked Deposits
Stored material
Others
Current Total
Non-current Assets
Clients (Consumers and Resellers)
Deferred Fiscal Assets (Taxes and Contributions)
Reimbursement rights – CCC (12,111 law)
Linked Deposits
Financial Asset – Annual allowed Revenue (Transmission)
Others
Advance to equity participation
169
Marketletter
Liabilities and Stockholders Equity
09.30.14
09.30.13
Current Liability
Suppliers
Loans and financings
Bonds
Taxes and social contributions
Income tax and Social Contribution
Reimbursement Obligations – CCC (12,111 law)
Advance to clients
Remuneration to shareholders (dividends to pay)
Estimated obligations
Provisions for Contingencies
Post-employment benefit (Complementary Pension Fund)
Leasing
Onerous Contracts
Sectorial Charges (regulatory taxes)
Incentive to personnel retiremnt
Others
Current Liability Total
54,133
66,080
18,630
7,155
552
31,760
10,941
189,251
260,868
34,798
13,460
5,400
1,389
31,059
12,984
14,325
374,283
Non-current Liability
Suppliers
Loans and financings
Taxes and social contributions
Income tax and Social Contribution
Derivatives
Reimbursement Obligations – CCC (12,111 law)
Advance to clients
Estimated obligations
Provisions for Contingencies
Post-employment benefit (Complementary Pension Fund)
Sectorial Charges (regulatory taxes)
Advance for future capital increase
Incentive to personnel retiremnt
Others
Non-current Liability Total
213,217
154,100
6,872
122,422
10,576
314
12,787
113
520,401
109,368
60,538
2,451
3,784
230,631
956
107
407,835
475,789
- 424,902
-
245,158
4,277
- 329,597
-
50,887
760,539
- 80,162
701,956
Stockholders Equity
Social capital
Capital reserves
Profit Reserves
Additional Proposed Dividend
Accured losses/profit
Other comprehensive Income
Non-controlling shareholders participation
Stockholders Equity Total
Liabilities and Stockholders’ Equity Total
170
Marketletter
Statement of Income
(R$ thousands)
Operating Revenue
Electric Energy Supply - Distribution
Construction Revenue - Distribution
Other Operating Revenue
Deductions to Revenue
Net Operating Revenue
Operating Costs
Electric Energy purchased for resale
Construction Cost
Operating Expenses
Personnel, Material and third-part related Service
Charges on electric network usage
Depreciation and Amortization
Donations and Contributions
Provisions
Others
Operating Costs and Expenses
Operating Result before Financial Result
Financial Result
Result before Income tax and Social Contribution
Current Income tax and Social Contribution
Deferred Income tax and Social Contribution
Net Result of the period
09.30.14
09.30.13
336,830
34,816
2,414
-103,843
270,217
293,357
41,744
11,919
-93,129
253,891
-96,014
-34,816
-102,999
-41,744
-63,276
-1,865
-10,370
17,420
-7,974
-196,895
73,322
-43,514
29,808
29,808
-67,075
-1,745
-8,339
-28,130
12,243
-237,789
16,102
-38,523
-22,421
-114
-302
-22,837
171
Marketletter
Cash Flow
(R$ thousands)
Cash Flow
OPERATING ACTIVITIES
Result before income tax and social contribution
Depreciation and amortization
Intangible Amortization – Distribution / Transmission
Monetary and Exchange net variations
Financing charges
Equity Method
Provision for uncovered liability
Provision for credits of doubtful liquidation
Provisions for contingencies
Provision for staff realignment
Provision for impairment of assets
Provision for losses with onerous contracts
Provision for Financial Asset loss
Global reversal reserve charges
Present value adjustment
Minority Participation in Result
Charges on shareholders funds
Loss/Gain in asset disposal (sum to Others item)
Financial asset revenue by IRR
Derivative financial instruments
Others
Variation in operating assets / liabilities
Net cash from operating activities
Financing charges – payment
Payment of charges of global reversal reserve
Financial charges receivable
Remuneration from equity participation
Financial asset revenue by AAR
Financial Asset on receiving indemnities
Payment of income tax and social contribution
Complementary pension fund payment
Lawsuits payment
Legal deposits
Net cash from Operational activities
FINANCING ACTIVITIES
Loans and financing obtained
Loans and financing payable - principal
Payment of Shareholders remuneration
Refinancing of taxes and contributions payment - principal
Capital increase - receivable
Others
Net cash from financing activities
INVESTMENT ACTIVITIES
Fixed Asset acquisition
Intangible Asset acquisition
Concession Asset Acquisition
Advance for future capital increase
Acquisition of equity participation investment
Others
Net Cash from investment activities
Increase (Decrease) in Cash and Cash Equivalents
Cash and cash equivalents at beginning of the period – 12/31/13
Cash and cash equivalents at end of the period – 03/31/14
09.30.2014
09.30.2013
21,489
10,370
32,125
13,554
-8,073
2,577
-3,556
5,924
-78,624
-4,214
-33,367
8,339
31,180
9,537
15,388
-1,881
-3
70,583
99,776
-6,192
-10,406
-9,537
-416
89,823
74,175
-17,590
56,585
20,556
-28,564
-8,008
-932
-1,519
-37,231
-8
-39,690
-1,134
-3,996
-40,961
-46,091
6,489
35,724
18,098
24,587
6,489
52,043
87,767
35,724
172
Marketletter
Analysis of the result
3Q14 x 2Q14
The Company presented in the 3Q14 net income 12.1% higher than that recorded in the previous quarter, from R$ 6.2 million in the 2Q14 for R$
7.0 million in the 3Q14, primarily due to the factors described below.
Operating Revenue
The supply of electricity increased by 0.6%, from R$ 115.4 million in the 2Q14 for R$ 116 million in the 3Q14, not generating significant impacts
on the company's results.
Operating Expenses
Personnel expenses, materials and third party services decreased by 27.6%, from R$ (27.8) million in the 2Q14 for R$ (20.2) million in the 3Q14,
mainly due to salary adjustments arising from the collective bargaining in 2014.
Electricity purchased for resale increased by 14.2%, from R$ (23.6) million in the 2Q14 for R$ (27) million in the 3Q14, due primarily to an
increase in PLD.
Operational provisions decreased by 109.3%, from a provision of R$ (2.2) million in the 2Q14 for a reversal of R$ 0.2 million in the 3Q14,
primarily due to the reversal of the provision related to ICMS.
Other operating expenses decreased by 73.8%, from R$ (5.2) million in the 2Q14 for R$ (9.1) million in the 3Q14, main ly due to the realization
of ICMS installment contract.
Financial Results
Net monetary decreased by 177.5%, from an expense of R$ (5.2) million in the 2Q14 to an expense of R$ (14.3) million in the 3Q14, mainly due
to the update of outstanding bills from the supplier of diesel.
Other financial expenses decreased by 90%, from R$ (8.2) million in the 2Q14 for R$ (0.8) million in the 3Q14, mainly due to the return of funds,
resulting from violation of indicators in the period, for the company's clients.
173
Marketletter
Market Data
1. Generation Assets and Energy generated – N/A
2. Electric energy purchased for resale
System
Unit
MWh
R$ million
MWh
R$ million
MWh
R$ million
MWh
R$ million
Eletrobras (SIN)
Eletrobras
Eletronorte
Others
Total
1Q14
2Q14
53,182
2,473
124,665
18,994
84,534
15,047
262,381
36,515
55,043
2,830
129,028
21,766
87,493
17,218
271,564
47,780
3Q14
SIN – National Interconected System
3. Energy sold
1Q14
R$ million
Distribution to
Residential
Industrial
Commercial, servicess and
others activities
Rural
State Utilities
Public Ilumination
Public Service
Own Consumption
Others
Total
MWh
2Q14
R$ million
MWh
3Q14
R$ million
MWh
56,98
4,54
99,884
11,360
53,04
4,59
97,433
11,009
57,90
4,33
98,764
9,468
27,24
48,847
25,86
46,584
28,37
50,020
3,67
12,71
3,19
2,38
0,12
0,62
111,45
9,975
26,908
8,692
8,273
302
1,601
215,842
3,36
13,62
4,01
2,30
0,17
0,53
107,48
10,592
27,810
11,599
7,943
290
1,586
214,846
4,23
15,77
3,58
2,43
0,18
0,61
117,4
10,371
29,776
10,919
9,014
294
1,885
170,491
4. Number of Consumer Units Serviced
1Q14
2Q14
3Q14
234,677
237,728
239,647
5. Network Expansion - number of new connections
1Q14
2Q14
3Q14
2,965
2,885
1,893
1Q14
2Q14
3Q14
15
15
15
6. Substation
174
Marketletter
7. Fuel for production of electric energy
Type
Unit
Diesel
Total:
Litre
1Q14
Amount
R$ million
Amount
12,836,029
12.836.029
40,01
40,01
13,334,861
13,334,861
2Q14
R$ million
41,32
41,32
3Q14
Amount
R$ million
13,929,975
13,929,975
42,58
42,58
8. Losses - %
1Q14
Technical
Commercial
Technical
9.85
13.65
9.85
2Q14
Commercial
13.05
3Q14
Technical
Commercial
9.85
13.54
9. Extension of distribution lines – 09.30.14
1Q14
2Q14
3Q14
19.017
19.248
19.297
1Q14
2Q14
3Q14
24.61
13.82
11.44
10. DEC - Duration of interruptions - in hours
11. FEC – Frequency of interruptions – Number of outages
1Q14
2Q14
3Q14
11.26
9.33
9.63
12. TMA – Average response time – in minutes
1Q14
2Q14
3Q14
649.51
441.06
365.46
13. Average price– R$/MWh
1Q14
2Q14
3Q14
516.35
500.27
532.40
175
Marketletter
14. Main investments – R$ thousand
Project
1Q14
Distribution
Rural Distribution Network Expansion Light for All
Urban Distribution Network Expansion
Distribution System Maintenance
Energy in Isolated Systems
Modernization and Adequacy of
Commercial and Distribution System
Others
Asset Maintenance
Total
2Q14
3Q14
10,532
7,460
15,181
2014 budget
149,321
1,288
1,105
2,096
46,058
3,932
3,515
-
3,376
901
-
3,233
3,229
-
51,809
21,308
-
1,797
2,078
6,623
30,145
2,002
2,002
12,534
894
894
8,354
487
488
15,668
8,941
8,941
158,262
15. New Investments – N/A
16. Loans and financing – R$ thousand
Creditor
Eletrobras
Eletrobras
Eletrobras
Eletrobras
Eletrobras
Eletrobras
Eletrobras
Eletrobras
Eletrobras
Eletrobras
Eletrobras
Eletrobras
Eletrobras
Eletrobras
Eletrobras
Eletrobras
Eletrobras
Eletrobras
Eletrobras
Eletrobras
Eletrobras
Eletrobras
Total
Balance
03.31.14
Balance
06.30.14
675,293.51
15,257,000.00
15,778,049.00
1,189,122.20
490,000.00
35,551,615.70
11,733,463.40
8,662,861.80
9,321,670.93
12,675,829.62
11,500,000.00
12,055,255.32
7,666,666.62
3,710,020.70
10,703,878.08
3,782,090.53
1,708,887.78
373,264.48
2,036,802.71
3,382,140.66
53,844.91
168,307,757.95
675,293.51
15,257,000.00
2,358,149.00
15,778,049.00
1,168,620.09
490,000.00
34,184,245.87
10,951,232.50
8,408,071.75
9,047,504.14
11,830,774.30
11,250,000.00
12,235,567.01
7,499,999.95
3,400,852.30
9,730,798.26
3,438,264.16
1,025,332.66
1,745,830.87
3,163,938.03
16,153.48
163,655,676.88
Balance
09.30.14
675,293.51
52,000,000.00
15,257,000.00
15,778,049.00
1,168,620.09
508,887.02
34,184,245.87
10,951,232.50
8,408,071.75
9,047,504.14
11,196,982.81
11,250,000.00
13,050,097.10
7,499,999.95
3,168,976.00
9,000,988.38
3,180,394.36
512,666.32
1,527,601.99
3,000,286.08
211,366,897.39
Due
Index
2015
2019
2018
2019
2018
2019
2018
2019
2017
2017
2019
2018
2019
2018
2018
2017
2017
2014
2014
2016
2018
2014
R$
R$
R$
R$
R$
R$
R$
R$
R$
R$
RGR
R$
IPCA
R$
RGR
RGR
R$
R$
R$
R$
R$
R$
17. Contract obligations – 09.30.14
Loans and financing
R$ million
Energy Purchase Contracts
R$ million
MWh
2014
2015
2016
2017
N/A
N/A
N/A
N/A
2014
2015
2016
2017
167,120
1,086,257
107,149
1,034,694
152,888
1,477,242
175,171
1,691,386
2018
N/A
2018
183,919
1,692,950
After 2018
N/A
After 2018
2,758,780
25,394,248
176
Marketletter
18. Default – more than 90 days – 09.30.14
Class
R$ million
State utilities
Industrial
Residential
Commercial
Rural
Poder Público
Iluminação Pública
Serviço Público
Others
Total
19. Number of employees
3,6
24,4
11,0
4,6
11,9
6,51
0.67
62,68
(including requested employees from other Eletrobras companies/ excluding employees assigned to other
Eletrobras companies)
19.1 By tenure
Distribution
Composition of employees
by tenure (Years)
Up to 5
6 to 10
11 to 15
16 to20
21 to 25
beyond 25
Total
1Q14
2Q14
75
39
17
43
174
75
39
17
43
174
3Q14
74
39
17
43
173
Administration
Composition of employees
by tenure (Years)
Up to 5
6 to 10
11 to 15
16 to20
21 to 25
beyond 25
Total
1Q14
2Q14
3Q14
46
23
9
22
100
46
23
9
22
100
45
22
9
21
97
19.2.By region
State
Acre
Number of employees
1Q14
2Q14
3Q14
274
274
270
177
Marketletter
19.3.By departments
Number of employees
Department
Field
Administrative
1Q14
2Q14
3Q14
101
173
101
173
97
173
2Q14
3Q14
20. Complementary work force
1Q14
Operational
49
49
272
21. Turn-over - %
1Q14
2Q14
3Q14
2.18
2.18
0.36
178
Marketletter
Balance Sheet
(R$ thousands)
Financial Statements for Consolidation Purposes
Assets
Current Assets
Availabilities
Clients (Consumers and Resellers)
Marketable Securities
Fiscal Asset Deferred (taxes and Contributions)
Reimbursement Right – CCC (12,111 law)
Linked Deposits
Stored Materials
Other
Current Assets Total
Non-Current Assets
Clients (Consumers and Resellers)
Fiscal Asset Deferred (taxes and Contributions)
Reimbursement Right – CCC (12,111 law)
Linked Deposits
Financial Asset
Other
Advance for equity participation
INVESTMENT
FIXED ASSET
INTANGIBLE
Non-Current Assets Total
Assets Total
09.30.14
09.30.13
14,478
235,088
26,233
13,570
28,236
5,152
99,622
422,379
23,392
229,216
9,444
5,836
49,067
316,955
187,339
5,053
51,985
648,559
564
893,500
168
22,298
20,381
936,347
1,358,726
145,915
5,808
40,903
644,307
3,957
840,890
168
23,832
4,863
869,753
1,186,708
179
Marketletter
Liabilities and Stockholders’ Equity
09.30.14
09.30.13
Current Liabilities
Suppliers
Loans and financing
Taxes and social contributions
Income tax and Social Contribution
Derivatives
Reimbursement obligations – CCC (12,111 law)
Advance from clients
Remuneration to Shareholders (dividends to pay)
Estimated obligations
Provisions for Contingencies
Post-employment benefits (Complementary Pension Fund)
Leasing
Onerous Contracts
Concessions to pay - UBP
Sectorial charges (regulatory taxes)
Incentive to personnel retirement
Others
Current Total
290,186
443,284
66,931
584
17,529
13,830
432
95,391
928,167
89,463
144,066
36,754
17,440
13,426
340
50,449
76,453
428,391
Non-Current Liabilities
Suppliers
Loans and financing - Principal
Taxes and social contributions
Income tax and Social Contribution
Derivatives
Reimbursement obligations – CCC (12,111 law)
Advance of clients
Estimated Obligations
Provisions for Contingencies
Provisions for onerous contracts
Post-employment benefits (Complementary Pension Fund)
Sector charges (regulatory taxes)
Advance for future capital Increase
Incentive to personnel retirement
Others
Non-Current Total
1,702
331,874
5,947
86,366
158,829
8,084
48,296
641,098
376,859
10,162
95,350
153,176
44,405
4,057
24,986
708,995
726,447
- 772,495
- 164,491
-
689,524
- 492,987
- 147,215
-
- 210,539
1,358,726
49,322
1,186,708
Stockholders’ Equity
Social Capital
Capital Reserve
Profit Reserve
Additional Proposed Dividend
Accured losses/profit
Other comprhensive results
Non-controlling shareholders participation
Stockholders’ Equity Total
Total Liabilities and Stockholders’ Equity
180
Marketletter
Statement of Income
(R$ thousands)
09.30.14
09.30.13
Operating Revenue
Electric Energy Supply - Distribution
Construction Revenue - Distribution
Other Operating Revenue
Deductions to Revenue
Net Operating Revenue
906,829
57,464
54,928
-261,344
757,877
769,632
76,812
53,241
-247,276
652,409
Operational Costs and Expenses
Electric Energy purchased for resale
Construction Cost
Charges on electric network usage
-546,061
-57,464
-43,551
-348,208
-76,812
-2,345
Operating Expenses
Personnel, Material and third-part related service
Depreciation and Amortization
Donations and Contributions
Provisions
Others
Operating Costs and Expenses
-163,294
-24,062
-91
-7,070
-66,588
-908,181
-205,525
-19,370
-114
-17,615
-82,752
-752,741
Result before Financial Result
-150,304
-100,332
Financial Result
Result before Income tax and Social Contribution
-38,835
- 189,139
-18,504
-118,836
Current Income tax and social Contribution
Deferred Income tax and Social Contribution
Net Result of the Period
- 189,139
- 118,836
181
Marketletter
Cash Flow
(thousands reais)
Cash Flow
09.30.2014
09.30.2013
OPERATING ACTIVITIES
Result before income tax and social contribution
Depreciation and amortization
Intangible Amortization – Distribution / Transmission
Monetary and Exchange net variations
Financing charges
Equity Method
Provision for uncovered liability
Provision for credits of doubtful liquidation
Provisions for contingencies
Provision for staff realignment
Provision for impairment of assets
Provision for losses with onerous contracts
Provision for Financial Asset loss
Global reversal reserve charges
Present value adjustment
Minority Participation in Result
Charges on shareholders funds
Loss/Gain in asset disposal (sum to Others item)
Financial asset revenue by IRR
Derivative financial instruments
Others
Variation in operating assets / liabilities
Net cash from operating activities
-189,139
24,062
-10,430
47,771
-15,101
2,893
-163
23,382
55,603
-61,122
-118,836
19,370
5,659
27,309
-29,740
1,761
-243
-26,651
7,751
-113,620
Financing charges – payment
Payment of charges of global reversal reserve
Financial charges receivable
Remuneration from equity participation
Financial asset revenue by AAR
Financial Asset on receiving indemnities
Payment of income tax and social contribution
Complementary pension fund payment
Lawsuits payment
Legal deposits
Net cash from Operational activities
-34,637
7,410
-88,349
-26,245
4,809
-135,056
FINANCING ACTIVITIES
Loans and financing obtained
Loans and financing payable - principal
Payment of Shareholders remuneration
Refinancing of taxes and contributions payment - principal
Capital increase - receivable
Others
Net cash from financing activities
216,430
-77,387
-2,313
136,730
146,762
-46,288
2,327
21,918
124,719
INVESTMENT ACTIVITIES
Fixed Asset acquisition
Intangible acquisition
Intangible acquisition - Concession
Advance for future capital increase
Acquisition of equity participation investment
Others
Net Cash from investment activities
-1,590
-8,637
-48,825
-497
-59,549
-908
-4,777
-72,035
65,443
-12,277
-11,168
-22,614
25,646
14,478
-11,168
46,006
23,392
-22,614
Increase (Decrease) in Cash and Cash Equivalents
Cash and cash equivalents at beginning of the period – 12/31/13
Cash and cash equivalents at end of the period – 03/31/14
182
Marketletter
Analysis of the result
3Q14 x 2Q14
The Company had a net profit in the 3Q14 105.8% higher than that recorded in the previous quarter, from a loss of R$ (131.4) million in the
2Q14 for a profit of R$ 7.7 million in the 3Q14, primarily due to the factors described below.
Operating Revenue
The supply of electricity for final consumers increased by 6.9%, from R$ 298.8 million in the 2Q14 to R$ 319.3 million in the 3Q14, mainly due to
the tariff increase in August 2014, according to Resolution No. 1782 ANEEL.
Operating Expenses
Electricity purchased for resale increased by 15.6%, from R$ (15.7) million in the 2Q14 to R$ (18.2) million in the 3Q14, due mainly to increased
PLD due to the higher thermal dispatch.
Operational provisions had increased 139.6%, from a reversal of R$ 13.3 million in the 2Q14 to a provision of R$ (5.3) million in the 3Q14,
mainly due to the recording of a provision relating to energy supply electric for Codevasf.
Financial Results
The debt charges decreased by 23.1%, from R$ (19.2) million in the 2Q14 to R$ (14.8) million in the 3Q14, mainly due to the renegotiation of
contracts of ordinary resources in the period.
The late additions had increased 120%, from R$ 4.9 million in the 2Q14 to R$ 10.8 million in the 3Q14, mainly due to rising e nergy bills
installments in the period.
Net other financial expenses decreased by 87.3%, from R$ (13.6) million in the 2Q14 to R$ (1.7) million in the 3Q14 , mainly due to the update
of the law suit regarding the sale of energy to CODEVASF.
183
Marketletter
Market Data
1. Generation Assets and Energy generated – N/A
2. Electric energy purchased for resale
System
Unit
MWh
R$ million
MWh
R$ million
MWh
R$ million
Eletrobras
Others
Total
1Q14
2Q14
3Q14
646,010
37,4
575,101
138,1
1,221,111
175,5
706,706
48,3
471,137
189,9
1,177,843
238,2
684,132
25,2
456,088
107,2
1,140,220
132,4
3. Energy sold
Distribution to
Residential
Industrial
Commercial, services and
others activities
Rural
Public Utilities
Public Ilumination
Public Service
Own Consumption
Others
Total
1Q14
R$ million
2Q14
MWh
R$ million
3Q14
R$ million
MWh
MWh
132,1
31,3
336,993
138,542
125,3
32,3
327,070
144,391
124,9
47,7
309,316
150,366
72,7
186,942
70,3
183,182
72,3
170,974
12,6
12,5
10,5
11,5
283,2
78,047
37,446
49,818
45,918
949
874,655
5,6
13,1
10,6
10,6
267,8
25,983
37,930
50,794
44,544
1,074
814,968
4,6
12,6
11,8
7,4
16,767
35,372
50,745
46,366
781
281,3
780,647
4. Number of Consumer Units Serviced
Total
1Q14
2Q14
3Q14
991,742
998,667
1,008,010
5. Network Expansion - number of new connections
1Q14
2Q14
3Q14
10,288
7,043
9,225
2Q14
3Q14
6. Substations
1Q14
40
40
41
7. Fuel used to produce electricity- N/A
8. Losses - %
Technical
10.34
1Q14
Commercial
15.13
Technical
10.34
2Q14
Commercial
14.84
Technical
10.34
3Q14
Commercial
14.83
184
Marketletter
9. Extension of distribution lines – 09.30.14
1Q14
2Q14
3Q14
40,785
40,789
40,794
1Q14
2Q14
3Q14
10.29
10.70
7.12
10. DEC- Duration of interruptions - in hours
11. FEC – Frequency of interruptions – Number of outages
1Q14
2Q14
3Q14
6.17
5.53
4.57
1Q14
2Q14
3Q14
296
388
250
12. TMA – Average response time – in minutes
13. Average price– R$/MWh
1Q14
2Q14
3Q14
250.68
257.92
280.65
14. Main Investments – R$ million
Projectt
3Q14
2014 budget
16,0
17,1
16,2
249,4
Rural Distribution Network Expansion - Light for All
1,2
0.2
0.1
41,7
Expansion of Distribution System
4,4
4,2
Maintenance of Distribution System
Modernization and Adequacy of Commercial and Distribution System –
loss reduction
Others
Maintenance and Adequacy of Goods
Maintenance and Adequacy of movable property, vehicles, and
equipment
Maintenance and Adequacy of computer, information assets and
teleprocessing
Total
5,0
4,1
2,5
42,2
5,4
8,6
10,5
101,5
1,1
0.0
0.7
0.1
0.5
0.1
45,9
6,0
0.0
0,1
-
4,1
Distribution
1Q14
2Q14
3,1
64,0
1,1
0.5
0.4
35,8
17,1
17,8
16,7
295,3
15. New Investments – R$ Million - N/A
185
Marketletter
16. Loans and Financing – R$ million
Creditor
Balance
03.31.14
Eletrobras
Faceal
CEF
Banco do Brasil
Lloyds Bank
Balance
06.30.14
Balance
09.30.14
Due Date
Index
731
11
05
05
01
764
9
5
5
1
Diverses
07.30.2015
12.31.2014
12.31.2014
04.10.2024
Interest Rate
INPC
CDI/OVER
CDI/OVER
DOLLAR
654
13
5
5
1
17. Contract obligations – 09.30.14
Loans and financing
R$ million
Energy Purchase Contracts
R$ million
MWh
2014
2015
2016
2017
2018
After 2018
452
126
67
52
36
47
2017
2018
After 2018
641
5,701,053
641
5,701,053
2014
508
4,457,727
2015
526
5,131,680
2016
553
5,405,868
580
5,422,416
18. Default – more than 90 days – 09.30.14
Class
R$ thousand
Residential
Industrial
Commercial, Service and other activities
Rural
Public Utility
Public Ilumination
Public Service
Others
Total
19. Number of employees
18,156
7,617
7,378
5,373
3,037
2,978
16,116
60,655
(including requested employees from other Eletrobras companies/ excluding employees assigned to other
Eletrobras companies)
19.1. By tenure
Distribution
Composition of employees by tenure
(Years)
Up to 5
6 to 10
11 to 15
16 to20
21 to 25
beyond 25
Total
1Q14
391
175
100
227
893
2Q14
3Q14
389
174
.
.
100
227
890
331
216
92
231
870
2Q14
3Q14
52
47
12
50
161
63
48
10
52
173
Administration
Composition of employees by tenure
(Years)
Up to 5
6 to 10
11 to 15
16 to20
21 to 25
beyond 25
Total
1Q14
52
47
12
50
161
186
Marketletter
19.2.By region
State
1Q14
Alagoas
Number of employees
2Q14
1,054
3Q14
1,051
1,043
19.3.By departments
Departments
Field
Administrative
1Q14
Number of employees
2Q14
890
168
3Q14
890
161
870
173
20.Complementary work force
Operational
1Q14
2Q14
3Q14
1,014
1,178
1,178
21.Turn-over - %
1Q14
2Q14
3Q14
0.19
0.14
0.14
187
Marketletter
Balance Sheet
(R$ thousands)
Financial Statements for Consolidation Purposes
Assets
09.30.14
09.30.13
Current Assets
Availabilities
Clients (Consumers and Resellers)
Fiscal Asset Deferred (taxes and Contributions)
Income tax and Social Contribution
Reimbursement Rights – CCC (12,111 law)
Linked Deposits
Stored Material
Others
Current Asset Total
8,229
262,803
8,186
14,678
46,493
10,586
53,122
404,097
11,628
215,460
19,909
11,480
48,630
307,107
214,228
4,594
12,709
623,186
1,477
856,194
146
19,695
30,668
151,690
6,865
11,986
789,662
1,268
961,471
146
27,166
8,577
906,703
1,310,800
997,360
1,304,467
Non-Current Assets
Clients (Consumers and Resellers)
Fiscal Asset Deferred (taxes and Contributions)
Reimbursement Rights – CCC (12,111 Law)
Linked Deposits
Financial Asset – Annual allowed revenue (transmission)
Others
Advance for equity participation
Investments
Fixed Asset
Intangible
Non-Current Assets Total
Total Assets
188
Marketletter
Liabilities and Stockholders Equity
09.30.14
09.30.13
Current Liabilities
Suppliers
Loans and Financing
Taxes and Social Contribution
Income tax and Social Contribution
Reimbursement Obligations – CCC (12,111 law)
Clients Advance
Remuneration to Shareholders (dividends to pay)
Estimated Obligations
Provisions for Contingencies
Post-Employment Benefit (Complementary Pension Fund)
Onerous Contract
Sectorial Charges (regulatory taxes)
Incentive to personnel retirement
Others
Current Liabilities Total
156,291
417,512
94,206
2,535
28,932
28,219
20,375
34,352
782,422
72,836
155,799
75,289
32,895
16,474
28,997
50,073
41,875
474,238
Non-Current Liabilities
Suppliers
Loans and Financing
Taxes and Social Contribution
Income tax and Social Contribution
Reimbursement Obligations – CCC (12,111 law)
Advance of clients
Estimated Obligations
Provision for contingencies
Provision for uncovered liabilities on invested companies
Post-Employment Benefit (Complementary Pension Fund)
Leasing
Sectorial Charges
Advance for future capital increase
Incentive to personnel retirement
Others
Non-Current Liabilities Total
530,592
84,174
92,011
75,829
34,701
16,416
2,604
836,327
498,373
39,644
72,134
64,279
20,474
136,459
2,972
773
835,108
Stockholders Equity
Social Capital
Capital Reserves
Profit Reserves
Additional proposed Dividend
Acccumulated Profit/Losses
Other comprehensive income
Non-controlling shareholders participation
Stockholders Equity Total
1,256,331
-1,529,951
-34,329
- 307,949
1,135,090
-1,136,410
-3,559
- 4,879
Total Liabilities and Stockholders Equity
1,310,800
1,304,467
189
Marketletter
Statement of Income
(R$ thousands)
09.30.14
09.30.13
802,622
78,356
101,666
-281,345
701,299
805,528
120,892
108,911
-289,165
746,166
-39,291
-78,356
-7,825
-120,892
-187,523
-372,939
-23,130
26,607
-51,326
-725,958
-223,789
-338,210
-22,027
-74,535
-40,467
-827,745
Operating Result before Financial Result
-24,659
-81,579
Financial Result
Result before Income tax and Social Contribution
-61,278
-85,937
-55,660
-137,239
Current Income tax and social Contribution
Deferred Income tax and Social Contribution
Net Result of the Period
-2,535
-88,472
-137,239
Operating Revenue
Electric Energy Supply - Distribution
Construction Revenue - Distribution
Other Operating Revenue
Deductions to Revenue
Net Operating Revenue
Operational Costs
Personnel, Material and third-part related service
Construction Cost
Operating Expenses
Personnel, Material and third-part related service
Electric Energy purchased for resale
Depreciation and Amortization
Donations and Contributions
Provisions
Others
Operating Costs and Expenses
190
Marketletter
Cash Flow
(reais thousands)
Cash Flow
09.30.2014
09.30.2013
OPERATING ACTIVITIES
Result before income tax and social contribution
Depreciation and amortization
Intangible Amortization – Distribution / Transmission
Monetary and Exchange net variations
Financing charges
Equity Method
Provision for uncovered liability
Provision for credits of doubtful liquidation
Provisions for contingencies
Provision for staff realignment
Provision for impairment of assets
Provision for losses with onerous contracts
Provision for Financial Asset loss
Global reversal reserve charges
Present value adjustment
Minority Participation in Result
Charges on shareholders funds
Loss/Gain in asset disposal (sum to Others item)
Financial asset revenue by IRR
Derivative financial instruments
Others
Variation in operating assets / liabilities
Net cash from operating activities
-85,937
23,130
1,383
58,601
-61,848
35,241
24,436
-7,508
-12,502
-137,239
22,027
942
31,336
1,501
19,331
55,416
42,176
-40,324
-4,834
Financing charges – payment
Payment of charges of global reversal reserve
Financial charges receivable
Remuneration from equity participation
Financial asset revenue by AAR
Financial Asset on receiving indemnities
Payment of income tax and social contribution
Complementary pension fund payment
Lawsuits payment
Legal deposits
Net cash from Operational activities
-2,535
-15,158
-30,195
-10,218
-15,052
FINANCING ACTIVITIES
Loans and financing obtained
Loans and financing payable - principal
Payment of Shareholders remuneration
Refinancing of taxes and contributions payment - principal
Capital increase - receivable
Others
Net cash from financing activities
253,581
-160,037
785
94,329
118,758
-84,265
62,043
96,536
INVESTMENT ACTIVITIES
Fixed Asset acquisition
Intangible acquisition
Intangible acquisition - Concession
Advance for future capital increase
Acquisition of equity participation investment
Others
Net Cash from investment activities
-1,162
-630
-76,563
-78,355
-6,496
-3,085
-94,198
-103,779
-14,221
-22,295
22,450
8,229
-14,221
33,923
11,628
-22,295
Increase (Decrease) in Cash and Cash Equivalents
Cash and cash equivalents at beginning of the period – 12/31/13
Cash and cash equivalents at end of the period – 03/31/14
191
Marketletter
Analysis of the result
3Q14 x 2Q14
The Company had a net loss in the 3Q14 118.7% higher than that recorded in the previous quarter, from a loss of R$ (23.6) million in the 2Q14
to a loss of R$ (51.5) million in the 3Q14, because primarily to the factors described below.
Operating Revenue
Distribution:
The supply of electricity increased by 16.4%, from R$ 258.5 million in the 2Q14 to R$ 301.1 million in the 3Q14, due mainly due to the average
tariff adjustment in the 3T14 of 25.81% as ANEEL Resolution 1,781/2014.
Operating Expenses
Personnel expenses, materials and third party services decreased by 23.0%, from R$ (76.6) million in the 2Q14 for R$ (59.0) million in the 3Q14,
mainly due to salary adjustments arising from the collective bargaining in the 2Q14.
Electricity purchased for resale increased by 14.5%, from R$ (112.2) million in the 2Q14 for R$ (128.5) million in the 3Q14, due primarily to the
termination of the contracts of the 1st auction of existing energy and high value of the PLD.
Charges for use of the grid increased by 191.6%, from R$ (7.2) million in the 2Q14 for R$ (21.1) million in the 3Q14, mainly due to the increased
charges of the service system (ESS) and TUSD.
Operational provisions decreased by 224.3%, from a reversal of R$ 11.3 million in the 2Q14 to a provision of R$ (14) million in the 3Q14, mainly
due to the variation caused by reversals in installment payments in contracts classes public authorities, public lighting and public service in the
2Q14, and the recognition of provisions for contingencies in the 3Q14.
Other operating expenses increased by 175.2%, from R$ 10.2 million in the 2Q14 to R$ 28.1 million in the 3Q14, mainly due to losses in
deactivations of goods.
Financial Results
Net monetary variations increased by 101.8%, from R$ (6.1) million in the 2Q14 for R$ (12.4) million in the 3Q14, due mainly to updates of
overdue taxes and loans.
192
Marketletter
Market Data
1. Generation Assets and Energy generated – N/A
2. Electric energy purchased for resale
System
Eletrobras
Others
Total
Unit
1Q14
MWh
R$ million
MWh
R$ million
MWh
R$ million
2Q14
412,200,341
20
552,647,16
108,7
964,847,50
128,70
3Q14
397,207,427
21,1
621,949,77
116,3
1,019,157,20
137,4
401,587,943
28,9
749,074,75
87,7
1,150,662,69
116,6
3. Energy sold
1Q14
Distribution to
R$ million
Residential
Industrial
Commercial
Rural
Public Utilities
Public Ilumination
Public Service
Own Consumption
Others
Total
2Q14
MWh
144,230
15,530
60,569
8,237
18,226
11,773
10,644
0.343
269,552
R$ million
338,016
48,940
153,187
29,065
49,632
47,217
36,798
905
703,760
147,134
16,648
63,525
7,992
19,951
11,563
10,913
0.360
278,09
3Q14
MWh
R$ million
335,684
52412
157,112
27,697
53,393
44,961
36,918
904
709,081
MWh
165,946
20,324
72,764
12,743
22,062
12,491
12,588
0.397
319,32
368,009
59,348
170,645
43,966
56,101
46,842
39,641
962
785,514
4. Number of Consumer Units Serviced
1Q14
2Q14
3Q14
1,113,081
1,121,174
1,133,744
5. Network Expansion - number of new connections
1Q14
2Q14
3Q14
11,338
10,047
13,792
6. Substations
1Q14
2Q14
3Q14
81
81
83
7. Fuel used to produce electricity- N/A
8. Losses - %
1Q14
Technical
13.01
Commercial
12.76
Technical
12.49
2Q14
Commercial
17.26
3Q14
Technical
13.51
Commercial
17.07
193
Marketletter
9. Extension of distribution lines – 09.30.14
1Q14
2Q14
3Q14
86,273
86,306
87,308
1Q14
2Q14
3Q14
12.11
6.13
7.82
10. DEC- Duration of interruptions - in hours
11. FEC – Frequency of interruptions – Number of outages
1Q14
2Q14
3Q14
6.37
4.83
4.17
1Q14
2Q14
3Q14
386
401
294
12. TMA – Average response time – in minutes
13. Average price– R$/MWh
1Q14
2Q14
3Q14
338.46
346.44
360.87
14. Main investments – R$ million
Project
1Q14
Distribution
Rural Distribution Network Expansion - Light for All Program
Urban Distribution Network Expansion
Distribution System Maintenance
Renovation and Adequacy of Commercial and Distribution System
Others
Maintenance of Assets
Total
10,200387
6,493145
9,458328
9,315001
0.609081
36,075942
2Q14
3Q14
10,971035
5,140940
8,836751
6,110758
0.196565
31,256049
11,546254
2,880573
9,354697
7,667537
1,842654
33,291715
2014 budget
112,125000
125,931076
76,575832
78,414911
34,540903
8,034908
435,622630
15. New Investments – N/A
16. Loans and financing – R$ million
Creditor
BB
Eletrobras
Morgan
Caixa
Balance
03.31.14
Balance
06.30.14
Balance
09.30.14
Due
Index
2014
IGPM + Interest rate 8.46% py
FINEL/RGR – 5% py
RO – 11.4% py
Dollar – Interest rate 6% py
Interest rate 7% py
0.399
0.103
811,142
863,708
911,466
2027
7,758
7,320
8,166
28,472
2024
2026
194
Marketletter
17. Contract obligations – 09.30.14
2014
2015
2016
2017
106,272
350,329
141,588
102,027
50,474
Energy Purchase
Contracts
2014
2015
2016
2017
2018
After 2018
R$ milhões
MWh
468,517,334
4,351,327.99
454,298,74
3,955,770
478,566,49
4,073,356
402,330,76
3,583,525,32
402,330.75
3,583,525.32
10,460,599.74
93,171,658.38
Loans and financing
R$ million
2018
After 2018
197,414
18. Default – more than 90 days – 09.30.14
Class
R$ Million
State utilities
Industrial
Residential
Commercial, Service and Others
Rural
Public Entities
Public Ilumination
Public Service
Others
Total
103,604
18,570
35,171
22,536
7,550
4,441
1,157
0.246
14,018
207,293
19. Number of employees
(including requested employees from other Eletrobras companies/ excluding employees assigned to other
Eletrobras companies)
19.1. By tenure
Distribution
Composition of employees by tenure (Years)
Up to 5
6 to 10
11 to 15
16 to 20
21 to 25
beyond 25
Total
1Q14
2Q14
3Q14
406
01
01
07
548
963
405
01
01
06
546
959
399
01
01
06
546
953
1Q14
2Q14
3Q14
62
01
07
139
209
59
01
06
139
205
62
02
06
139
209
Administration
Composition of employees by tenure (Years)
Up to 5
6 to 10
11 to 15
16 to 20
21 to 25
beyond 25
Total
19.2.By region
State
Piauí
1Q14
1,172
Number of employees
2Q14
1,164
3Q14
1,162
195
Marketletter
19.3.By departments
Department
Field
Administrative
Number of employees
2Q14
1Q14
601
571
598
566
3Q14
598
564
20.Complementary work force
Operational
1Q14
2Q14
3Q14
1,267
1,356
1,538
21.Turn-over - %
1Q14
2Q14
3Q14
0.38
0.47
0.43
196
Marketletter
Balance Sheet
(R$ thousands)
Financial Statements for Consolidation Purposes
Assets
09.30.14
09.30.13
35,010
181,356
11,043
14,183
230
7,799
38,972
288,593
22,593
158,459
12,580
80,720
565
7,228
34,622
316,767
Investments
Fixed Asset
Intangible
26,740
9,352
2,375,661
66,626
735,172
3,958
3,217,509
1,806
29,772
66,987
31,840
10,957
1,168,070
64,692
789,430
5,823
2,070,812
1,809
28,084
88,614
Non-Current Assets Total
Total Assets
3,316,074
3,604,667
2,189,319
2,506,086
Current Assets
Availabilities
Clients (Consumers and Resellers)
Fiscal Asset Deferred (taxes and Contributions)
Income Tax and Social Contribution
Reimbursement Rights – CCC (12,111 law)
Linked Deposits
Stored Material
Others
Current Asset Total
Non-Current Assets
Clients (Consumers and Resellers)
Fiscal Asset Deferred (taxes and Contributions)
Reimbursement Rights – CCC (12,111 Law)
Linked Deposits
Financial Asset – Annual allowed revenue (transmission)
Others
Advance for equity participation
197
Marketletter
Liabilities and Stockholders Equity
09.30.14
09.30.13
Current Liabilities
Suppliers
Loans and Financing
Taxes and Social Contribution
Income tax and Social Contribution
Reimbursement Obligations – CCC (12,111 law)
Clients Advance
Remuneration to Shareholders (dividends to pay)
Estimated Obligations
Provisions for Contingencies
Post-Employment Benefit (Complementary Pension Fund)
Leasing
Onerous Contracts
Sectorial Charges (regulatory taxes)
Incentive to personnel retirement
Others
Current Liabilities Total
1,412,865
293,876
35,081
30,117
757
6,279
18,981
1,797,956
302,841
83,339
33,200
10,471
20,288
483
4,505
21,026
24,561
500,714
Non-Current Liabilities
Suppliers
Loans and Financing
Taxes and Social Contribution
Income tax and Social Contribution
Reimbursement Obligations – CCC (12,111 law)
Advance of clients
Provision for contingencies
Provision for onerous contracts
Post-Employment Benefit (Complementary Pension Fund)
Sectorial Charges (regulatory charges)
Advance for future capital increase
Others
Non-Current Liabilities Total
337,759
3,521
148,412
126,441
37,703
252
1,338,269
1,992,357
336,473
3,408
127,695
112,218
30,971
113,152
1,321,562
2,045,479
Stockholders Equity
Social Capital
Capital Reserves
Profit Reserves
Additional proposed Dividend
Acccumulated Profit/Losses
Other comprehensive income
Non-controllingshareholders participation
Stockholders Equity Total
1,325,124
- 1,510,770
-185,646
1,212,157
- 1,252,264
-40,107
Total Liabilities and Stockholders Equity
3,604,667
2,506,086
198
Marketletter
Statement of Income
(R$ thousands)
09.30.14
09.30.13
Operating Revenue
Electric Energy Supply - Distribution
Construction Revenue - Distribution
Other Operating Revenue
Deductions to Revenue
Net Operating Revenue
948,646
128,745
47,348
-272,890
851,849
860,063
158,070
16,004
-231,942
802,195
Operational Costs
Electric Energy purchased for resale
Construction Cost
-373,605
-128,745
-461,064
-158,070
-190,336
-10,004
-25,173
-328
-10,123
-79,026
-817,340
-168,988
-24,810
-22,638
-233
160,771
-156,711
-831,743
Operating Result before Financial Result
34,509
-29,548
Financial Result
Result before Income tax and Social Contribution
-27,762
6,747
-32,088
-61,636
-3,739
3,008
-61,636
Operational Expenses
Personnel, Material and third-part related service
Charges on electric network usage
Depreciation and Amortization
Donations and Contributions
Provisions
Others
Operational Costs and Expenses
Current Income tax and social Contribution
Deferred Income tax and Social Contribution
Net Result of the Period
199
Marketletter
Cash Flow
(thousands reais)
Cash Flow
09.30.2014
09.30.2013
OPERATING ACTIVITIES
Result before income tax and social contribution
Depreciation and amortization
Intangible Amortization – Distribution / Transmission
Monetary and Exchange net variations
Financing charges
Equity Method
Provision for uncovered liability
Provision for credits of doubtful liquidation
Provisions for contingencies
Provision for staff realignment
Provision for impairment of assets
Provision for losses with onerous contracts
Provision for Financial Asset loss
Global reversal reserve charges
Present value adjustment
Minority Participation in Result
Charges on shareholders funds
Loss/Gain in asset disposal (sum to Others item)
Financial asset revenue by IRR
Derivative financial instruments
Others
Variation in operating assets / liabilities
Net cash from operating activities
6,747
25,173
4,286
41,455
14,466
-4,343
29,328
-95,434
21,678
-59,139
22,638
15,599
22,721
-44,338
-497
-131,200
75,149
-43,951
-143,018
Financing charges – payment
Payment of charges of global reversal reserve
Financial charges receivable
Remuneration from equity participation
Financial asset revenue by AAR
Financial Asset on receiving indemnities
Payment of income tax and social contribution
Complementary pension fund payment
Lawsuits payment
Legal deposits
Net cash from Operational activities
-25,759
-449
-4,530
-24,185
86,938
-80,265
171,833
-41,351
130,482
160,634
-13,790
86,000
232,844
-646
-6,710
-124,480
-131,836
-3,326
-12,937
-146,055
-43,000
-205,318
-5,884
-52,739
40,894
35,010
-5,884
75,332
22,593
-52,739
FINANCING ACTIVITIES
Loans and financing obtained
Loans and financing payable - principal
Payment of Shareholders remuneration
Refinancing of taxes and contributions payment - principal
Capital increase - receivable
Others
Net cash from financing activities
INVESTMENT ACTIVITIES
Fixed Asset acquisition
Intangible acquisition
Intangible acquisition - Concession
Advance for future capital increase
Acquisition of equity participation investment
Others
Net Cash from investment activities
Increase (Decrease) in Cash and Cash Equivalents
Cash and cash equivalents at beginning of the period – 12/31/13
Cash and cash equivalents at end of the period – 03/31/14
200
Marketletter
Analysis of the result
3Q14 x 2Q14
The Company had a net loss in the 3Q14 150.9% higher than that recorded in the previous quarter, from a profit of R$ 69.0 million in the 2Q14
to a loss of R$ (35.1) million in the 3Q14, mainly due to factors described below.
Operating Revenue
The supply of electricity increased by 6%, from R$ 312.7 million in the 2Q14, to R$ 331.7 million in the 3Q14, primarily due to an increase in
billed consumption and growing number of consumers.
Operating Expenses
Expenses for personnel, material and third party services decreased by 1.0%, from R$ (67.0) million in the 2Q14 for R$ (66.3) million in the
3Q14, mainly due to salary adjustments arising from the collective bargaining in the 2Q14.
Electricity purchased for resale decreased by 263.8%, from R$ (50.2) million in the 2Q14 for R$ (182.8) million, in the 3Q14, primarily due to
increased PLD and increased volume of purchased energy.
Financial Results
Net monetary variations decreased by 121.9% from a loss of R$ (6.7) million in the 2Q14 to a gain of R$ 1.5 million in the 3Q14, mainly due to
the update of legal deposits.
Other financial income decreased by 81.1%, from R$ 10.4 million in the 2Q14 for R$ 2.0 million in the 3Q14, mainly due to the adjustment of
financial exposure with CCEE.
Other financial expenses increased by 147.7%, from R$ (3.6) million in the 2Q14 for R$ (9.0) million in the 3Q14, primarily due to the recognition
of interest on contracts with Petrobras.
201
Marketletter
Market Data
1. Generation Assets and Energy generated
Own assets
Plant
Installed
Capacity
(MW)
Guaranteed energy
(MW average)
1Q14
2Q14
3Q14
2.6
2.0
5,075.3
2,536.19
-
SHU – Rio Vermelho
Plant
Energy generated (MWh)
Location
(State)
Beginning of Operation
End of Operation
RO
Nov/86
10/12
SHU – Rio Vermelho
2. Electric energy purchased for resale
System
Unit
Eletrobras
(SIN)
MWh
R$ million
MWh
R$ million
MWh
R$ million
Others
Total
1Q14
2Q14
3Q14
556.127
85.1
361.846
55.4
917,973
140,5
591.913
29.5
385.089
19.1
977,002
48,6
761.389
160,8
284.023
59,3
1,045,412
220,1
SIN – National Interconnected System
3. Energy sold
Distribution to
Residential
Industrial
Commercial, services and others activities
Rural
Public Utilities
Public Ilumination
Public Service
Own Consumption
Others
Total
1Q14
R$ million
MWh
135,6
45,2
70,0
22,1
19,6
9,1
3,7
0.4
-1,4
304,3
275,766
122,602
147,073
68,029
44,629
33,436
11,760
900
704,195
2Q14
R$ million
MWh
136,1
46,5
72,0
22,4
22,1
8,6
3,7
0.5
19,8
331,7
278,240
135,010
152,843
69,498
51,728
31,895
12,130
1,074
732,418
3Q14
R$ million
MWh
144,1
47,1
77,0
23,8
24,0
8,7
3,8
0.5
12,3
341,3
295,371
133,343
163,919
74,409
56,570
32,237
12,319
988
769,156
4. Number of Consumer Units Serviced
1Q14
2Q14
3Q14
567,620
569,757
575,364
5. Network Expansion - number of new connections
1Q14
2Q14
3Q14
5,117
6,078
6,920
1Q14
2Q14
3Q14
6. Substations
57
57
57
202
Marketletter
7. Fuel used to produce electricity
Type
Diesel oil
Unit
Litre
1Q14
2Q14
3Q14
Amount
R$ Million
Amount
R$ Million
Amount
R$ Million
126,011,500
310,99
133,118,500
319,90
116,708,000
296,48
8. Losses - %
1Q14
2Q14
3Q14
Technical
Commercial
Technical
Commercial
Technical
Commercial
11.15
11.27
11.15
12.04
11.15
12.75
9. Extension of distribution lines – 09.30.14
1Q14
2Q14
3Q14
57,616
57,652
57,698
10. DEC- Duration of interruptions - in hours
1Q14
2Q14
3Q14
6.80
3.97
3.71
11. FEC – Frequency of interruptions – Number of outages
1Q14
2Q14
3Q14
6.23
4.25
3.08
12. TMA – Average response time – in minutes
1Q14
2Q14
3Q14
279.0
263.1
257.23
13. Average price – R$/MWh
1Q14
2Q14
3Q14
352.49
336.94
350.83
203
Marketletter
14. Main investments – R$ million
Project
Distribution
Rural Expansion of distribution - Light for All Project
Expansion of Urban distribution
Maintenance of the distribution system
Isolated system - energy
Renovation – Distribution and Comercialization System
Others
Maintenance and Adjustment of property / IT assets
Total
1Q14
2Q14
3Q14
2014 budget
0.43
24,58
17,78
2,69
1,13
26,23
8,09
4,48
0.02
26,99
9,66
5,21
100,00
268,02
38,73
89,77
0.55
46,03
2,72
42,65
1,11
42,99
11,02
507,54
15. New Investments – N/A
16. Loans and financing – R$ million
Creditor
Balance
03.31.14
Balance
06.30.14
Balance
09.30.14
Due
Index
Eletrobras
512,1
554,7
630,8
2025
IPCA/FINEL/RGR – 5% py
17. Contract obligations 09.30.14
Loans and financing
R$ million
Energy Purchase Contracts
R$ million
MWh
2014
2015
2016
2017
2018
After 2018
7,4
327,9
90,4
88,9
40,6
75,6
2014
162,461
1,143,048
2015
702,267
4,661,341
2016
780,914
4,889,967
2017
842,551
4,977,287
2018
After 2018
1,060,572
5,910,592
6,294,644
29,531,820
18. Default – more than 90 days - 09.30.14
Class
Residential
Industrial
Commercial, services and other activities
Rural
Public Utility
Public Ilumination
Public Utility Services
Others
Total
R$ million
18,0
17,6
8,5
6,0
7,1
7,8
24,5
89,5
204
Marketletter
19.Number of employees
(including requested employees from other Eletrobras companies/ excluding employees assigned to other
Eletrobras companies)
19.1.By tenure
Distribution
Composition of employees by tenure
(Years)
1Q14
Up to 5
6 to 10
11 to 15
16 to 20
21 to 25
beyond 25
Total
2Q14
3Q14
136
162
41
36
200
575
142
146
39
35
185
547
2Q14
3Q14
22
58
2
4
26
81
193
25
60
2
6
8
113
214
138
159
1
39
36
201
574
Administration
Composition of employees by tenure
(Years)
1Q14
Up to 5
6 to 10
11 to 15
16 to 20
21 to 25
beyond 25
Total
22
63
2
6
8
98
199
19.2.By region
State
1Q14
Rondônia
Number of employees
2Q14
773
3Q14
768
761
19.3.By departments
Department
Number of employees
2Q14
1Q14
Field
Administrative
574
199
575
193
3Q14
547
214
20.Complementary work force
Operational
1Q14
2Q14
3Q14
1,140
1,140
1,195
21.Turn-over - %
1Q14
2Q14
0.38
0.26
3Q14
0.52
205
Marketletter
Balance Sheet
(R$ thousands)
Financial Statements for Consolidation Purposes
Assets
09.30.14
09.30.13
7,078
45,555
5,805
1,707
18,422
78,567
7,708
69,353
5,236
3,965
1,666
5,702
93,630
Investments
Fixed Asset
Intangible
3,720
10,908
124,918
17,107
168,398
2,604
327,655
11,289
5,899
6,495
16,060
143,850
1,842
168,247
11,577
6,666
Non-Current Assets Total
Total Assets
344,843
423,410
186,490
280,120
Current Assets
Availabilities
Clients (Consumers and Resellers)
Fiscal Asset Deferred (taxes and Contributions)
Income tax and Social Contribution
Reimbursement Rights – CCC (12,111 Law)
Linked Deposits
Stored Material
Others
Current Asset Total
Non-Current Assets
Clients (Consumers and Resellers)
Fiscal Asset Deferred (taxes and Contributions)
Reimbursement Rights – CCC (12,111 Law)
Linked Deposits
Financial Asset – Annual allowed revenue (transmission)
Others
Advance for equity participation
206
Marketletter
Liabilities and Stockholders’ Equity
09.30.14
09.30.13
Current Liabilities
Suppliers
Loans and Financing
Taxes and Social Contribution
Income tax and Social Contribution
Reimbursement Obligations – CCC (12,111 law)
Advance from clients
Remuneration to Shareholders (dividends to pay)
Estimated Obligations
Provisions for Contingencies
Post-Employment Benefit (Complementary Pension Fund)
Onerous Contracts
Concessions to pay - UBP
Sectorial Charges (regulatory taxes)
Incentive to personnel retirement
Others
Current Liabilities Total
268,343
29,642
3,771
11,565
41,439
354,760
103,238
4,176
4,920
9,874
3,041
9,151
134,400
Non-Current Liabilities
Suppliers
Loans and Financing
Taxes and Social Contribution
Income tax and Social Contribution
Reimbursement Obligations – CCC (12,111 law)
Advance from clients
Estimated Obligations
Provision for contingencies
Provision for onerous contract
Post-Employment Benefit (Complementary Pension Fund)
Sectorial Charges (regulatory charges)
Advance for future capital increase
Others
Non-Current Liabilities Total
11,289
57,209
27,343
1,846
33,368
131,055
16,872
18,238
22,563
4,445
83,683
145,801
684,204
- 745,233
- 1,376
- 62,405
684,204
- 680,197
- 4,088
-81
423,410
280,120
Stockholders Equity
Social Capital
Capital Reserves
Profit Reserves
Additional proposed Dividend
Acccumulated Profit/Losses
Other comprehensive income
Non-controlling shareholders participation
Stockholders’ Equity Total
Total Liabilities and Stockholders’ Equity
207
Marketletter
Statement of Income
(R$ thousands)
09.30.14
09.30.13
Operating Revenue
Supply
Electric Energy Supply - Distribution
Construction Revenue - Distribution
Other Operating Revenue
Deductions to Revenue
Net Operating Revenue
166,829
8,703
7,075
-40,309
142,298
21,623
143,040
9,332
1,866
-39,158
136,703
Operational Costs
Electric Energy purchased for resale
Charges on electric network usage
Construction Cost
Fuel
-72,247
-8,703
-14,826
- 90,867
-9,332
-9,265
-62,099
- 7,028
-18,692
-26,023
-209,618
-75,316
-6,597
57,487
17,939
-115,951
-67,320
20,752
- 3,376
- 70,696
2,729
23,481
-70,696
23,481
Operational Expenses
Personnel, Material and third-part related service
Depreciation and Amortization
Donations and Contributions
Provisions
Others
Operating Expenses
Operating Result before Financial Result
Financial Result
Result before Income tax and Social Contribution
Current Income tax and social Contribution
Deferred Income tax and Social Contribution
Net Result of the Period
208
Marketletter
Cash Flow
(thousands of reais)
Cash Flow
09.30.2014
09.30.2013
-46,494
7,028
875
2,149
19,547
4,628
-4,692
12,366
-4,593
35,158
6,597
-13,328
1,433
-56,641
1,864
-3,646
39,808
11,245
Financing charges – payment
Payment of charges of global reversal reserve
Financial charges receivable
Remuneration from equity participation
Financial asset revenue by AAR
Financial Asset on receiving indemnities
Payment of income tax and social contribution
Complementary pension fund payment
Lawsuits payment
Legal deposits
Net cash from Operational activities
-1,991
-6,584
-1,433
9,812
FINANCING ACTIVITIES
Loans and financing obtained
Loans and financing payable - principal
Payment of Shareholders remuneration
Refinancing of taxes and contributions payment - principal
Capital increase - receivable
Others
Net cash from financing activities
18,981
-3,446
15,535
3,720
-1,857
1,863
INVESTMENT ACTIVITIES
Fixed Asset acquisition
Intangible acquisition
Concession Asset Acquisition
Advance for future capital increase
Acquisition of equity participation investment
Others
Net Cash from investment activities
-8,121
-911
-343
-9,375
-956
-995
-16,757
-18,708
-424
-7,033
7,502
7,078
-424
14,741
7,708
-7,033
OPERATING ACTIVITIES
Result before income tax and social contribution
Depreciation and amortization
Intangible Amortization – Distribution / Transmission
Monetary and Exchange net variations
Financing charges
Equity Method
Provision for uncovered liability
Provision for credits of doubtful liquidation
Provisions for contingencies
Provision for staff realignment
Provision for impairment of assets
Provision for losses with onerous contracts
Provision for Financial Asset loss
Global reversal reserve charges
Present value adjustment
Minority Participation in Result
Charges on shareholders funds
Loss/Gain in asset disposal (sum to Others item)
Financial asset revenue by IRR
Derivative financial instruments
Others
Variation in operating assets / liabilities
Net cash from operating activities
Increase (Decrease) in Cash and Cash Equivalents
Cash and cash equivalents at beginning of the period – 12/31/13
Cash and cash equivalents at end of the period – 03/31/14
209
Marketletter
Analysis of the result
3T14 x 2T14
The Company had a net profit in the 3Q14 27.2% lower than reported in the previous quarter, from R$ 39.9 million in the 2Q14 to R$ 29.1
million in the 3Q14, primarily due to the factors described below.
Operating Revenue
Distribution:
The supply of electricity decreased by 2.2%, but had no significant impact on the outcome.
Operating Expenses
Personnel expenses, materials and third party services decreased 21.9%, from R$ (24.8) million in the 2Q14 for R$ (19.3) million in the 3Q14,
mainly due to salary adjustment in the 2Q14.
Electricity purchased for resale increased by 8.1%, from R$ (23.3) million in the 2Q14 for R$ (25.1) million in the 3Q14, due to increased demand
in the 3Q14.
Operational provisions had increased by 14.9%, from R$ (7.7) million in the 2Q14 for R$ (8.9) million in the 3Q14, primarily due to the
recognition of a provision of penalty from ANEEL in the 3Q14.
Financial Results
Net monetary decreased by 367%, from revenues of R$ 3.2 million in the 2Q14 to an expense of R$ 8.4 million in the 3Q14, mainly due to
update of debt to the Eletronorte.
210
Marketletter
Market Data
1. Generation Assets and Energy generated
Plant
Installed
Capacity
(MW)
Floresta
Distrito
40MW
20MW
(IPPs contract)
Energy generated (MWh)
1Q14
2Q14
3Q14
Beginning of
Operation
End of
Concession
15,924
15,952
16,393
19,943
16,001
19,251
Apr/2010
Apr/2010
Apr/2015
Apr/2015
2. Electric energy purchased for resale
System
Unit
MWh
R$ million
MWh
R$ million
Eletrobras
Total
1Q14
2Q14
3Q14
199,305
40,5
199,305
40,5
202,663
40,5
202,663
40,5
213,744
43,0
213,744
43,0
3. Energy sold
1Q14
R$ million
MWh
Distribution to
Residential
Industrial
Commercial, services and others
activities
Rural
Public Utilities
Public Ilumination
Public Service
Own Consumption
Others
Total
2Q14
R$ million
MWh
3Q14
R$ million
MWh
26,8
0.8
89,889
3,566
26,9
0.9
91,183
4,189
26,6
0.9
89,634
4,240
10,0
38,258
9,9
38,499
10,3
39,862
1,0
3,6
1,1
0.6
0.1
44
5,273
18,294
6,624
4,642
716
167,262
0.6
4,3
1,2
0,7
0.1
44,6
2,972
22,105
7,156
4,665
670
171,438
0.6
4,2
1,2
0.7
0.1
44,6
3,080
21,475
7,168
5,054
699
171,212
1. Number of Consumer Units Serviced
1Q14
98,936
2Q14
3Q14
100,546
101,559
5. Network Expansion - number of new connections
1Q14
2Q14
3Q14
3,602
1,820
2,000
1Q14
2Q14
3Q14
03
03
03
6 .Substations
7. Fuel used to produce electricity
Type
Unit
Diesel oil
Litre million
Amount
11,4
1Q14
R$ million
Amount
33,8
10,3
2Q14
R$ million
30,5
Amount
11,2
3Q14
R$ million
33,1
211
Marketletter
8. Losses - %
Technical
1Q14
Commercial
7.04
Technical
4.67
2Q14
Commercial
7.04
3Q14
Technical
2.49
Commercial
7.04
5.98
9. Extension of distribution lines – 09.30.14
1Q14
2Q14
3Q14
3,469
3,487
3,503
10. Extension of transmission lines – 09.30.14 – N/A
11. DEC- Duration of interruptions - in hours
1Q14
2Q14
3Q14
2.28
2.08
3.16
12. FEC – Frequency of interruptions – Number of outages
1Q14
2Q14
3Q14
3.92
2.43
4.61
1Q14
2Q14
3Q14
76.06
84.67
85.72
13. TMA – Average response time – in minutes
14. Average price– R$/MWh
1Q14
2Q14
3Q14
263.957
260.831
260.965
15. Main investments – R$ million
Project
Distribution
Expansion of Urban Distribution (Light for All Program)
Expansion of Urban Distribution (regular)
Maintenance of energy distribution system
Modernization and adaptation of energy distribution and
Energy trading system
Others
Maintenance and adjustment of property
Maintenance and adjustment of goods
Maintenance and adjustment of thechnological activity
Total
1Q14
2Q14
3Q14
2,01
1,13
0.65
4,08
0.99
1,23
3,54
0.11
1,62
1,00
2014 budget
55,48
8,81
14,88
5,8
0.23
1,86
0.81
25,99
0.02
0.02
2,03
0.17
0.17
4,25
0.24
0.24
3,78
13,46
0.89
1,43
11,14
68,94
212
Marketletter
16. New investments – R$ million
Project
1Q14
2Q14
3Q14
Budget 2014
-
1,5
0.9
6,34
Expansion of Urban Network Distribution
17. Loans and financing – R$ million
Creditor
Eletrobras
Balance on
03.31.14
Balance on
06.30.14
23,48
Balance on
09.30.14
41,27
Date Due
38,78
Index
Up to 2019
According to ECF (Diverses)
18. Contract obligations - 09.30.14
2014
Loans and financing
R$ million
7,11
Energy Purchase Contracts
R$ million
MWh
2014
147,179
741,640
2015
2016
2017
2018
4,06
1,76
1,82
21,78
After 2018
2,25
2015
2016
2017
2018
After 2018
131,045
660,343
138,907
660,343
183,811
832,200
193,001
832,200
117,704
483,360
19. Default – more than 120 days –09.30.14
Class
R$ million
State utilities
Industrial
Residential
Commercial
Others
Total
1,86
0.06
0.95
0.22
27,19
40,28
20.Number of employees
(including requested employees from other Eletrobras companies/ excluding employees assigned to other
Eletrobras companies)
20.1.By tenure
Distribution
Composition of employees by tenure (Years)
Up to 5
6 to 10
11 to 15
16 to 20
21 to 25
beyond 25
Total
1Q14
2Q14
3Q14
18
60
25
33
136
13
43
23
1
13
40
133
31
39
24
56
150
Administration
Composition of employees by tenure (Years)
Up to 5
6 to 10
11 to 15
16 to 20
21 to 25
beyond 25
Total
1Q14
10
86
9
19
124
2Q14
3Q14
7
42
43
2
9
19
122
12
43
43
1
3
24
126
213
Marketletter
20.2.By region
State
1Q14
Roraima
Number of employees
2Q14
260
3Q14
255
276
20.3.By departments
Department
Field
Administrative
1Q14
Number of employees
2Q14
3Q14
136
124
133
122
150
126
1Q14
2Q14
3Q14
269
267
267
21.Complementary work force
Operational
22.Turn-over - %
1Q14
2Q14
3Q14
0.00
0.01
0.038
214
Marketletter
Balance Sheet
(R$ thousands)
Financial Statements for Consolidation Purposes
Assets
09.30.14
09.30.13
8,479
44,125
2,789
2,336
57,729
52,986
1,250
1,157
9
55,402
2,741
50
2,791
2,741
48
2,789
95,627
22
21
94,181
32
20
98,461
156,190
97,022
152,424
Current Assets
Availabilities
Clients (Consumers and Resellers)
Loans and Financing - Principal
Marketable Securities
Dividends to receive (remuneration of equity participation)
Fiscal Asset Deferred (taxes and Contributions)
Income tax and Social Contribution
Linked Deposits
Stored Material
Financial Asset
Others
Current Asset Total
Non-Current Assets
Clients (Consumers and Resellers)
Loans and Financing - Principal
Marketable Securities
Fiscal Asset Deferred (taxes and Contributions)
Income tax and Social Contribution
Linked Deposits
Others
Advance for equity participation
Investments
Fixed Asset
Intangible
Non-Current Assets Total
Total Assets
215
Marketletter
Liabilities and Stockholders Equity
09.30.14
09.30.13
Current Liabilities
Suppliers
Loans and Financing
Taxes and Social Contribution
Income tax and Social Contribution
Derivatives
Remuneration to Shareholders (dividends to pay)
Estimated Obligations
Provisions for Contingencies
Post-Employment Benefit (Complementary Pension Fund)
Leasing
Onerous Contracts
Others
Current Liabilities Total
701
31
323
118
1,173
549
27
16
592
Non-Current Liabilities
Suppliers
Loans and Financing
Bonds
Taxes and Social Contribution
Income tax and Social Contribution
Derivatives
Estimated Obligations
Provision for contingencies
Provision for uncovered liabilities on invested companies
Provision for onerous contract
Post-Employment Benefit (Complementary Pension Fund)
Sectorial Charges (regulatory charges)
Advance for future capital increase
Others
Non-Current Liabilities Total
12,307
12,307
8,815
8,815
Stockholders Equity
Social Capital
Capital Reserves
Profit Reserves
Additional proposed Dividend
Acccumulated Profit/Losses
Other comprehensive income
Non-controlling shareholders participation
Stockholders Equity Total
118,054
3,159
-3,340
24,837
142,710
118,054
2,991
5,007
16,964
143,016
Total Liabilities and Stockholders Equity
156,190
152,423
216
Marketletter
Statement of Income
(R$ thousands)
09.30.14
09.30.13
10,360
10,360
2,355
2,355
-2,247
-14
-13,936
-1,378
-17,575
-2,191
-8
1,713
-1,931
-2,417
Operating Result before Financial Result
-7,215
-62
Financial Result
Result before Income tax and Social Contribution
4,198
-3,017
2,130
2,068
Current Income tax and social Contribution
Deferred Income tax and Social Contribution
Net Result of the Period
-323
-3,340
2,068
Operating Revenue
Equity Participation Revenue
Operating Revenue Total
Operational Costs and Expenses
Personnel, Material and third-part related service
Depreciation and Amortization
Donations and Contributions
Provisions
Others
Operating Costs and Expenses
217
Marketletter
Cash Flow
(thousands Reais)
Cash Flow
09.30.2014
09.30.2013
-3,017
14
-999
13,936
-4,769
-2,007
3,158
5,000
10
-2,355
-1,713
-878
64
261
-323
3,096
1,902
1,966
FINANCING ACTIVITIES
Loans and financing obtained
Loans and financing payable - principal
Payment of Shareholders remuneration
Refinancing of taxes and contributions payment - principal
Capital increase - receivable
Others
Net cash from financing activities
-3,203
-3,203
-12,775
-12,775
INVESTMENT ACTIVITIES
Fixed Asset acquisition
Intangible acquisition
Concession asset acquisition
Advance for future capital increase
Acquisition of equity participation investment
Others
Net Cash from investment activities
-10
-1,519
-1,529
-10
-10
-1,636
-10,819
54,240
52,604
-1,636
63,804
52,986
-10,818
OPERATING ACTIVITIES
Result before income tax and social contribution
Depreciation and amortization
Intangible Amortization – Distribution / Transmission
Monetary and Exchange net variations
Financing charges
Equity Method Result
Provision for uncovered liability
Provision for credits of doubtful liquidation
Provisions for contingencies
Provision for losses with Investments
Provision for impairment of assets
Provision for losses with onerous contracts
Provision for Financial Asset loss
Global reversal reserve charges
Present value adjustment
Minority Participation in Result
Charges on shareholders funds
Loss/Gain in asset disposal (sum to Others item)
Financial asset revenue by IRR
Derivative financial instruments
Others
Variation in operating assets / liabilities
Net cash from operating activities
Financing charges – payment
Payment of charges of global reversal reserve
Financial charges receivable
Remuneration from equity participation
Financial asset revenue by AAR
Financial Asset on receiving indemnities
Payment of income tax and social contribution
Complementary pension fund payment
Lawsuits payment
Legal deposits
Net cash from Operational activities
Increase (Decrease) in Cash and Cash Equivalents
Cash and cash equivalents at beginning of the period – 12/31/13
Cash and cash equivalents at end of the period – 03/31/14
218
Marketletter
Analisis of Result
3Q14 x 2Q14
The Company presented a profit in 2Q14 2,075% higher than that registered in the previous quarter, from a loss of R$ (0.3) million in 2Q14 to a
profit of R$ 6.3 million in 3Q14, primarily due to the factors described below.
Equity Participation Revenue
The Result of Investments in Equity Participations presented an increase of 1,396%, from a loss of R$ 0.5 million in 2Q14 to a gain of R$ 6.8
million in 3Q14 due to the reversal of a provision related to EMAE.
Operating Expenses
The others operating expenses increased by 117% due to the loss record in the subscription of shares of CTEEP in 3Q14.
219
Marketletter
Market Data
1. Investments – 09.30.14
Company
Type
CTEEP
Eletropaulo
EMAE
Energias do Brasil
CPFL Energia
Amount
PN
PNB
PN
ON
ON
2. Number of employees
Participation (%)
1,060,225
2,095,644
523,911
1,485,678
1,703,600
0.65
1.25
1.42
0.31
0.18
(including requested employees from other Eletrobras companies/excluding employees assigned to other
Eletrobras companies)
2.1.By tenure
Composition of employees
by tenure (Years)
Up to 5
6 to 10
11 to15
16 to 20
21 to 25
Beyond 25
Total
1Q14
2Q14
2
2
4
2
2
4
1Q14
Number of employees
2Q14
3Q14
2
2
4
2.1.By region
State
RJ
4
3Q14
4
4
3. Complementary work force
1Q14
2Q14
3Q14
6
6
6
4. Turn-Over - %
1Q14
-
2Q14
-
3Q14
-
220