Marketletter 3Q13
Annex
Marketletter
INDEX
Introduction
I. Analysis of the Results of the Consolidated Companies
3
II. Analysis of the Results of the Parent Company
4
III. Eletrobras Information
12
IV. Attachment: Subsidiary Companies Information
15
IV.1. Generation and Transmission Companies
33
Itaipu
34
Furnas
42
Chesf
70
Eletronorte
96
Eletronuclear
117
Eletrosul
126
CGTEE
144
IV.2. Distribution Companies
153
Amazonas Energia
154
Distribuição Acre
170
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 18, 2013
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
Furnas
Chesf
Eletronorte
Eletrosul
Eletronuclear
CGTEE
Net Operating
Revenue
2013
2012
Service
Result
2013
2012
Income/Loss
of the Period
2013
2012
EBITDA
(R$ million)
2013
2012
Margin
EBITDA
2013
2012
3,196
3,153
3,484
777
1,386
184
(787)
(734)
1,656
150
145
(302)
(578)
(269)
1,277
184
47
(358)
(208)
(599)
2,017
398
363
(247)
(6.5)
(19.0)
57.9
51.2
26.2
(134.8)
5,377
4,494
3,795
1,143
1,467
399
1,050
1,771
531
480
379
(102)
472
1,587
221
204
284
(214)
1,202
2,130
897
506
573
(45)
22.4
47.4
23.6
44.3
39.0
(11.2)
Installed Capacity
Company
Full Ownership
SPE
(b)
Physical
Aggregation 2013
Total
9,237
10,615
9,340
7,000
1,990
840
427
2,207
41,656
1,138
108
75
13
1.334
531
45
82
658
10,375
10,723
9,415
7,000
1,990
840
427
13
2,207
42,990
Full Ownership
SPE
(b)
Physical
Aggregation 2013
Total
19,799
19,247
9,983
10,693
673
60,395
1,107
1,042
1,377
141
3,667
958
874
168
33
2,033
20,906
20,289
11,360
10,834
673
64,062
(a)
Furnas
Chesf
Eletronorte
Itaipu
Eletronuclear
CGTEE
Eletrosul
Eletrobras
Distribution companies
Total
(a+b)
(b) The company's participation in the project
Extension of Transmission Lines - Km
Company
Furnas
Chesf
Eletronorte
Eletrosul
Distribution companies
Total
(a)
(a+b)
(b) The company's participation in the project
Energy Sold – MWh
Itaipu
Furnas
Chesf
Eletronorte
Eletronuclear
Eletrosul
CGTEE
Total
9M13
9M12
73,530,282
30,766,522
43,461,537
39,153,354
10,269,857
1,330,651
2,860,619
201,372,822
74,231,265
30,723,933
42,544,738
40,432,938
10,769,817
1,746,819
3,265,080
203,714,590
34
MARKETLETTER
Balance Sheet
(In US$)
Assets
Current Assets
Cash and banks
Accounts receivable from clients
Obligation to receive
Sundry debtors
Stored materials
Advances to personnel
Advances to suppliers
Legal deposits
Other accounts receivable
Total Current Assets
Non-Current Assets
Obligations to receive
Legal deposits
From previous periods
Result for the period
Property, unit and equipment
Intangible
Total Non-Current Assets
Total Assets
09.30.13
12.31.12
462,040,434
986,474,920
3,291,603
9,888,437
8,494,428
7,175,275
21,860,672
27,708,304
2,551,185
1,529,485,258
534,263,722
967,038,354
732,843
6,468,099
6,471,312
1,068,689
25,531,487
28,546,392
21,331,021
1,591,451,919
206,495,615
39,299,028
245,794,643
(942,516,046)
(912,422,544)
(1,854,938,590)
17,492,210,592
21,213,829
15,904,280,474
17,433,765,732
221,170,351
42,379,656
263,550,008
(421,953,392)
(520,562,654)
(942,516,046)
17,477,652,841
20,808,447
16,819,495,250
18,410,947,170
35
Marketletter
Liabilities and Stockholders’ Equity
Current Liabilities
Loans and Financing
Charges to pay
Remuneration and reimbursement
Suppliers
Pay roll and social obligations
Labor indemnities
Provision for contingencies
Other obligations
Total Current Liabilities
09.30.13
12.31.12
1,156,006,305
4,363,770
678,725,834
23,877,515
74,476,226
6,816,025
198,472,263
4,691,642
2,147,429,580
1,091,679,495
5,441,346
668,963,832
83,282,430
58,233,723
23,995,933
234,144,839
4,968,364
2,170,709,962
Total Liabilities
12,969,519,942
379,677,409
1,718,855,968
115,193,774
3,089,059
15,186,336,152
17,333,765,732
13,818,581,952
376,466,918
1,814,318,349
127,714,634
3,155,355
16,140,237,208
18,310,947,170
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
17,433,765,732
50,000,000
50,000,000
100,000,000
18,410,947,170
Non-Current Liabilities
Loans and financing
Remuneration and reimbursement
Labor indemnities
Retirement benefits
Provision for contingencies
Other obligations
36
Marketletter
Statement of Income
(US$)
09.30.13
Operating Revenues
Power supply
Centrais Elétricas Brasileiras S.A. – Eletrobras
Administración Nacional de Electricidad - Ande
Remuneration on power assignment
Centrais Elétricas Brasileiras S.A. – Eletrobras
Administración Nacional de Electricidad - Ande
Reimbursement of charges – non assured energy
Centrais Elétricas Brasileiras S.A. – Eletrobras
Administración Nacional de Electricidad - Ande
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
Materials
Third party services
Provision for contingencies
Social-environmental expenses
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
Monetary variations
Other financial expenses
Financial Result
Net income for the period
09.30.12
2,294,659,292
173,599,708
2,468,259,000
2,303,895,731
164,363,269
2,468,259,000
95,320,423
190,640,847
285,961,270
96,944,213
193,622,911
290,567,124
84,018,555
16,719,350
100,737,905
2,854,958,175
87,138,937
15,641,588
102,780,525
2,861,606,649
(36,061,487)
(285,961,270)
(35,798,087)
(290,567,124)
(303,278,301)
(23,329,100)
(326,607,401)
(302,312,010)
(23,254,770)
(325,566,780)
(93,542,340)
(7,195,565)
(100,737,905)
(749,368,063)
(95,439,059)
(7,341,466)
(102,780,525)
(754,712,516)
(443,876,269)
(8,418,239)
(64,219,512)
19,489,448
(39,820,688)
(35,460,372)
(572,305,632)
(1,321,673,695)
1,533,284,480
(397,997,522)
(9,179,017)
(52,849,683)
15,598,485
(40,063,672)
(60,941,088)
(545,432,497)
(1,300,145,013)
1,561,461,636
6,303,862
(5,607,261)
696,601
3,000,248
(8,110,472)
(5,110,224)
16,732,105
2,305,946
19,038,051
50,805,968
(6,208,682)
44,597,286
(728,308,256)
87,717,363
(5,695)
(640,596,588)
(621,558,537)
912,422,544
(779,319,975)
(2,907,592)
(17,955)
(782,245,522)
(737,648,236)
818,703,176
37
Marketletter
Cash Flow
(US$)
09.30.13
Operating Activities
Net income for the period
Adjustments
Disposal of 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
09.30.12
912,422,544
818,703,176
5,095,874
(1,838,017)
(111,438,314)
7,575,694
(1,728,741)
(24,273,716)
1,878,646
726,429,610
(9,949,377)
1,522,600,966
831,385
778,488,590
48,346,382
1,627,942,770
(19,436,565)
(2,023,116)
29,998,412
9,762,002
(59,747,932)
16,242,502
(36,237,541)
(61,442,238)
1,461,158,728
(110,718,485)
36,096
17,376,034
79,320,228
(50,527,729)
19,494,020
(71,442,422)
(116,462,258)
1,511,480,512
(20,059,008)
(20,059,008)
(19,079,553)
(19,079,553)
22,049,560
(806,866,819)
(728,505,749)
(1,513,323,008)
(72,223,288)
534,263,722
462,040,434
(72,223,288)
14,425,205
(760,676,982)
(777,758,173)
(1,524,009,950)
(31,608,991)
568,408,376
536,799,385
(31,608,991)
38
Marketletter
Market Data
1. Generation Assets and Energy generated
Own assets
Unit
Installed
Guaranteed Energy
Capacity MW
MW Average
Itaipu Binacional
14,000
Energy generated – MWh
2Q13
1Q13
8,577
24,839,820
3Q13
25,172,873
24,073,828
Unit
Participation %
Location (State)
Beginning of Operation
End of concession
Itaipu Binacional
100%
Brazil (Paraná) and
Paraguay (Alto Paraná)
03/1985
-x-
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
1Q13
US$ Million
753.5
69.3
822.8
2Q13
US$ Million
MWh
22,155,395
2,498,289
24,653,684
MWh
769.4
22,880,701
53.4
2,101,756
822.8
24,982,457
3Q13
US$ Million
771.7
51.0
822.7
MWh
21,744,017
2,150,124
23,894,141
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– N/A
6. Losses in generation - %
1Q13
2Q13
3Q13
0.75
0.76
0.75
1Q13
2Q13
3Q13
22.60
22.60
22.60
7. Average price– US$/KW
Own assets
39
Marketletter
8.Extension of transmission lines – Km – N/A
9.Main investments – US$ million
Project
1Q13
2Q13
3Q13
4.0
1.2
2.8
4.0
10.1
1.8
8.3
10.1
5.9
1.6
4.3
5.9
Generation
Permanent
Other investments
Total
10. New investments – N/A
11. Loans and financing – US$ million
Local currency - LC
Creditor
Balance
03.31.13
Balance
06.30.13
Balance
09.30.13
Due
Index
FIBRA – Fundação Itaipu – BR
42.5
38.5
37.6
2023
INPC
Foreign currency - FC
Creditor
Balance
03.31.13
Balance
06.30.13
Balance
09.30.13
Eletrobras
National Treasury
Restructuring of foreign debt
CAJUBI – Fundação Itaipu - PY
TOTAL
5,546.9
8,745.0
277.2
59.7
14,628.8
5,392.1
8,634.4
264.7
61.7
14,352.9
5,234.6
8,522.0
266.9
68.8
14,092.3
Due Date
Currency
2014 / 2021 / 2023
2023
2013 / 2023
2021 / 2022
US$
US$
US$
US$
12. Contracts – US$ million
12.1. Loans and financing
Loans and financing
By activity
Generation
By creditor
Eletrobras
Others
2013
2014
2015
2016
2017
After 2017
289.6
1,167.0
1,240.6
1,323.2
1,411.5
8,698.0
159.7
129.9
685.2
481.8
596.5
644.1
485.1
838.1
516.6
894.9
2,791.4
5,906.6
12.2. Energy purchase – N/A
12.3. Energy sale
Energy sale contracts
Regulated Market
Bilateral contracts*
Total
Unit
2013
2014
2015
2016
2017
MWh
US$ Million
MWh
US$ Million
MWh
US$ Million
145,620
3,291.0
145,620
3,291.0
145,620
3,291.0
145,620
3,291.0
145,620
3,298.3
145,620
3,298.3
145,620
3,324.5
145,620
3,324.5
145,620
3,337.6
145,620
3,337.6
After
2017
776,640
17,539.4
776,640
17,539.4
*Unit Cost of Electricity Service for the year 2013 was adopted in October 2012.
40
Marketletter
13. Number of employees
(including requested employees from other Eletrobras companies/ excluding employees assigned to other
Eletrobras companies)
13.1.By tenure
Generation
Composition of employees by
tenure (Years)
1Q13
2Q13
3Q13
Up to 5
6 to 10
11 to15
16 to 20
21 to 25
beyond 25
Total
1,271
350
412
174
688
567
3,462
1,277
402
409
172
649
573
3,482
1,135
493
416
171
601
591
3,407
13.2. By region
State
Itaipu Hydrolectric Unit 3
Paraná – Brazil
São Paulo – Brazil
Brasília – Brazil
ParaguaY
Total
3
Number of employees
2Q13
1Q13
2,290
315
1
3
853
3,462
2,267
341
1
3
870
3,482
3Q13
2,253
321
1
3
829
3,407
Located in Foz do Iguaçu-Paraná-Brasil and Hernandárias-Alto Paraná-Paraguay.
13.3. By departments
Department
Field 4
Administrative
4
1Q13
Number of employees
2Q13
789
2,673
780
2,702
3Q13
742
2,665
Employees assigned to Operation and Maintenance Superintendencies
14. Complementary work force - NA
15. Turn-over
1Q13
2Q13
3Q13
0.0174
0.0134
0.0224
41
Marketletter
Balance Sheet
(R$ thousand)
Assets
Current Assets
Cash and banks
Marketable securities
Consumers
Equity participation remuneration
Tax and social contribution
Compensation rights
Collaterals and linked deposits
Stored materials
Derivative financial instruments
Others
Non-Current Assets
Long-term asset
Consumers
Tax and social contribution
Stored materials
Collaterals and linked deposits
Financial asset – public service concession
Concession compensations
Others
Investments
Property, unit and equipment
Intangible
Total Assets
09.30.13
12.31.12
3,691
718,664
949,218
21,143
127,998
9,937
15,331
24,218
1,499,440
210,165
3,579,805
2,462
509,279
935,106
35,171
148,953
9,937
15,329
24,954
1,515,986
394,966
3,592,143
628,221
961,326
89,874
457,326
6,377,921
1,005,772
106,150
9,626,590
4,547,271
5,812,053
93,964
20,079,878
23,659,683
398,922
980,272
89,047
386,699
6,329,851
2,174,808
679,729
11,039,328
3,607,783
5,769,432
98,193
20,514,736
24,106,879
42
Marketletter
Liabilities and Stockholders’ Equity
Current Liabilities
Suppliers
Loans and financing
Taxes and social contributions
Estimated obligation
Sector charges
Post retirement benefits
Others
Non-Current Liabilities
Loans and financing
Taxes and social contributions
Concession payments
Provisions for risks
Post retirement benefits
Advance for future capital increase
Provision for onerous contracts
Research and development
Others
Stockholders’ Equity
Capital
Capital Reserves
Income Reserves
Accured Income (losses)
Other comprehensive income
Total Liabilities and Stockholders’ Equity
09.30.13
12.31.12
251,700
427,825
264,735
511,815
134,415
70,967
24,414
1,685,871
833,344
597,188
307,349
497,853
94,258
65,597
101,335
2,496,924
7,330,140
457,764
39,669
1,016,898
611,188
33,948
813,675
74,920
1
10,378,203
6,087,370
524,860
44,673
865,178
552,784
525,450
1,490,215
214,749
1
10,305,280
6,531,154
5,690,383
493,059
(38,400)
(1,080,587)
11,595,609
23,659,683
6,031,154
5,690,383
493,059
(909,921)
11,304,675
24,106,879
43
Marketletter
Statement of Income by Activity
(R$ thousand)
Generation
Net operating revenue
Operational cost
Electric energy cost
Electricity purchased for resale
Charges for the use of electric network
Construction cost
Construction - generation
Construction - transmission
Operating cost and O&M
Operation cost
Personnel
Material
Third-party services
Depreciation and amortization
Use of water resources
Fuel and water for electric power production
Supervisory fee of electric energy services
Taxes and fees
Gross Operating Result
Operating Expenses
Provision for contingencies
Reversal of operational provisions
Provision for doubtful accounts
Provision / Reversion PREQ
Provision for lower with financial asset
Other expenses
Result of the electric energy service
Other revenues (expenses)
Other expenses - non operating
Equity result
Financial Result
Financing Revenues
Income from financial investments
Interest on refinancing of credits and loans granted
Monetary variation on refinancing of credits and loans
Monetary variation and moratory increase on energy sold
Other asset variations
Other financial income
Financial expenses
Loans and financing charges
Financial charges on other obligations
Monetary and exchange variations of loans and financings
Other liability variations
Other financial expenses
Result before taxes
Social Contribution
Income tax
Deferred taxes
Results for the period
09.30.13
Transmission
Energy trading
Total
1,883,354
854,429
457,822
3,195,605
(298,280)
(298,280)
(70,109)
(70,109)
(1,063,765)
(341,135)
(9,781)
(189,599)
(119,007)
(113,978)
(280,821)
(7,523)
(1,921)
(1,432,154)
451,200
(248,688)
(248,688)
(811,725)
(490,970)
(14,979)
(280,234)
(14,765)
(7,292)
(3,485)
(1,060,413)
(205,984)
(610,306)
(605,869)
(4,437)
(13,574)
(10,361)
56
(2,872)
(353)
(44)
(623,880)
(166,058)
(908,586)
(605,869)
(302,717)
(318,797)
(70,109)
(248,688)
(1,889,064)
(842,466)
(24,704)
(472,705)
(134,125)
(113,978)
(280,821)
(14,815)
(5,450)
(3,116,447)
79,158
(54,799)
484
(7,914)
(117,069)
(70,109)
20,186
(229,221)
221,979
(346,779)
(346,779)
103,335
21,520
173,642
10,620
21,027
7,297
11,171
123,527
(152,122)
(165,428)
64,756
(194)
(51,256)
55
(4,102)
(11,662)
(7,977)
(23,686)
(103,150)
912
(14,894)
(206,442)
(214,479)
(47,756)
(585,809)
(791,793)
332,218
332,218
(160,371)
243,521
15,248
30,237
10,445
454
10,958
176,179
(403,892)
(191,317)
(164,135)
(281)
(48,159)
(619,946)
(11,471)
(31,612)
(7,881)
(670,910)
(3,223)
29
(464)
(5,396)
(42,139)
(51,193)
(217,251)
355,693
355,693
(19,644)
(496)
292
558
187
8,706
(10,239)
(19,148)
(3,101)
(11,525)
1,960
(5)
(6,477)
118,798
1,371
3,832
(7,493)
116,508
(161,172)
1,425
(23,272)
(328,907)
(284,588)
(69,709)
(866,223)
(787,065)
341,132
341,132
103,335
(158,495)
416,667
26,160
51,822
17,929
454
30,835
289,467
(575,162)
(359,846)
(11,525)
(97,419)
(480)
(105,892)
(501,093)
(14,202)
(39,442)
(23,351)
(578,088)
44
Marketletter
Generation
Net operating revenue
Operational cost
Electric energy cost
Electricity purchased for resale
Charges for the use of electric network
Construction cost
Construction - generation
Construction - transmission
Operating cost and O&M
Operation cost
Personnel
Material
Third-party services
Depreciation and amortization
Use of water resources
Fuel and water for electric power production
Supervisory fee of electric energy services
Taxes and fees
Gross Operating Result
Operating Expenses
Provision for contingencies
Reversal of operational provisions
Provision for doubtful accounts
Provision / Reversion PREQ
Provision for lower with financial asset
Other expenses
Result of the electric energy service
Other revenues (expenses)
Other expenses - non operating
Equity result
Financial Result
Financing Revenues
Income from financial investments
Interest on refinancing of credits and loans granted
Monetary variation on refinancing of credits and loans
Monetary variation and moratory increase on energy sold
Other asset variations
Other financial income
Financial expenses
Loans and financing charges
Financial charges on other obligations
Monetary and exchange variations of loans and financings
Other liability variations
Other financial expenses
Result before taxes
Social Contribution
Income tax
Deferred taxes
Results for the period
09.30.12
Transmission
Energy trading
Total
2,448,456
1,752,129
1,176,543
5,377,128
(329,603)
(329,603)
(861,414)
(257,606)
(11,827)
(157,347)
(161,711)
(166,057)
(97,025)
(8,410)
(1,431)
(1,191,017)
1,257,439
(315,078)
(315,078)
(888,032)
(537,337)
(22,416)
(303,142)
(14,717)
(7,642)
(2,778)
(1,203,110)
549,019
(1,864,456)
(1,864,456)
(18,847)
(13,417)
11
(4,895)
(515)
21
(26)
(26)
(1,883,303)
(706,760)
(2,194,059)
(1,864,456)
(329,603)
(315,078)
(1,768,293)
(808,360)
(34,232)
(465,384)
(176,943)
(166,057)
(97,004)
(16,078)
(4,235)
(4,277,430)
1,099,698
(17,927)
65,228
(9,549)
(59,667)
(21,915)
1,235,524
(398)
(398)
(22,327)
22,237
57,172
10,793
14,847
11,278
137
5,043
15,074
(34,935)
(89,443)
77,721
(9,006)
(14,207)
1,235,036
(93,204)
(256,181)
885,651
(33,744)
90,036
(8,811)
(71,348)
(23,867)
525,152
(1,525)
(1,525)
(278,697)
85,468
20,828
28,568
21,460
2,107
8,581
3,924
(364,165)
(141,274)
(197,386)
1,240
(26,745)
244,930
(23,078)
(63,888)
(16,674)
141,290
(1,055)
2,752
(275)
(5,501)
(4,079)
(710,839)
(39)
(39)
(21,747)
5,802
596
825
550
5
3,690
136
(27,549)
(3,513)
(16,603)
5,607
(4,792)
(8,248)
(732,625)
47,360
130,695
(554,570)
(52,726)
158,016
(18,635)
(136,516)
(49,861)
1,049,837
(1,962)
(1,962)
(22,327)
(278,207)
148,442
32,217
44,240
33,288
2,249
17,314
19,134
(426,649)
(234,230)
(16,603)
(114,058)
(12,558)
(49,200)
747,341
(68,922)
(189,374)
(16,674)
472,371
45
Marketletter
Cash Flow
(R$ thousand)
09.30.13
Operating Activities
Net income before income tax and social contribution
Expenses (revenues) not affecting net working capital
Depreciation and amortization
Monetary and currency variation
Income from financial investment
Monetary variation – Indemnification Law 12.783/13
Financing charges
Equity Method
Provision for credit of questionable liquidation
Provisions for risks with fiscal, labor and civil litigation
Provision / Reversion of operating provision
Write-off of financing asset - provision
Write-off of fixed assets
Financial asset revenue by RAP( Permitted Annual Revenue for transmission)
Global reversal reserve charges
Subtotal
Variation in operating assets / liabilities
Payment of financial charges
Financing asset amortization by RAP
Payment of charges of global reversal reserve
Financial charges receivable
Payment of income tax and social contribution
Collaterals and linked deposits
Payment of early retirement plan
Renegotiated energy credits-received
Income participation
Taxes and social contribution - payment – principal
Complementary security fund payment
Subtotal
Net cash of operational activities
Financing Activities
Loans and financing obtained
Loans and financing payable - principal
Receipt of Advancement for Future Capital Increase
Net cash of financing activities
Investment Activities
Loans and financing granted
Receipt of Compensation – Law 12,783
Acquisition of financial assets
Acquisitions of fixed assets for maintenance on linked revenues
Redemption / (application) of investment in fixed income and equities
Acquisition of property, unit and equipment
Acquisition of intangible assets
Acquisition of equity participation investment
Receipt of remuneration on investment in share participations
Net cash from investment activities
Total of cash effects
Cash and cash equivalent – beginning of period
Cash and cash equivalent – end of period
09.30.12
38,595
747,341
134,125
62,233
(26,160)
(287,376)
371,371
(103,335)
21,847
151,720
223,906
252,736
76,456
(133,322)
43,905
150,161
(20,548)
(368,928)
151,314
5,635
(121,945)
(54,442)
(122,224)
136,871
(97,970)
(48,221)
(58,862)
(578,772)
(449,159)
176,943
90,368
(32,218)
189,990
22,327
18,635
52,726
(158,018)
3,557
(907,058)
204,593
(37,064)
(226,735)
1,150,134
(174,929)
4,826
(45,851)
(92,501)
160,006
(106,039)
(67,045)
(201,978)
399,888
567,417
1,392,455
(438,087)
954,368
981,871
(168,685)
200,000
1,013,186
(51,680)
1,472,958
(318,798)
(252,736)
(183,225)
(234,451)
(14,522)
(984,626)
63,100
(503,980)
1,229
2,462
3,691
1,229
(315,078)
33,142
(392,924)
(3,659)
(1,036,640)
29,994
(1,685,165)
(104,562)
115,665
11,103
(104,562)
46
Marketletter
Analysis of the result
Furnas presented in 3Q13 a net loss of R$ 812.8 million compared to a net income of R$ 175.5 million in 2Q13, representing a decrease of
563.2% in the result. This variation was due to: a) the increase in operating expenses, and b) the worsening of the net financial result that came
from an expense of R$ 3.5 million in 2Q13 to an expense of R$ 146.6 million in 3Q13.
Operating Revenue
Generation:
The generation segment in 3Q13 increased by 39.2% when compared to 2Q13, as the 3Q13 accumulated gross revenues of R$ 731.0 m illion,
compared to R$ 677.9 million in 2Q13. This increase is from the revenues from construction, operation and maintenance of power plants.
Transmission:
In the transmission segment there was an increase of 74.9%, when compared with 3Q13 and 2Q13, from gross revenue in 2Q13, totaling R$
265.8 million, to a gain of R$ 465.1 million in 3Q13.
This increase reflects primarily the construction of transmission lines and financial revenue line items - return on investment in 3Q13 presented
gross revenue of R$ 278.8 million over 2Q13 that presented a net expense of R$ 35.2 million.
Electricity Cost
The Energy Purchased for Resale line item had its balance reduced by 10.9%, from a cost of R$ 209.8 million in 2Q13 to R$ 187.0 million in
3Q13. This decrease is due to: a) the reduction in provisioning for purchase in the short-term market (CCEE) due to the expiration of the contract
with Eletronuclear, which generated a requirement of approximately R$ 167 million per month, and b) less energy purchased for resale with
suppliers, regarding lower energy demand contracted by Furnas.
Charges for use of the electricity grid grew 3.0%, from a cost of R$ 100.6 million in 2Q13 to R$ 103.1 million in 3Q13, caused by transmission
revenues - basic grid.
Operation and Maintenance Costs (O&M)
The O&M costs recorded in 2Q13 were R$ 153.6 million. However, in 3Q13 it was reclassified to Cost of Construction, and simultaneously
registered in Financial Assets. Since there is no RAP attached, a provision for a write-off of financial assets, in the same amount, was constituted.
Therefore, in 3Q13, there are R$ 153.6 million in revenues to mitigate the effect of the previous cost which was written-off during the period.
Operating Cost
The Personnel expenses were up by 7.4%, from R$ 272.7 million in 2Q13 to R$ 292.8 million in 3Q13.
Third-party services fell by 0.2% when compared to 2Q13 from R$ 168.0 million to R$ 167.8 million in 3Q13.
Depreciation and Amortization increased by 19.4%, from R$ 43.3 million in 2Q13 to R$ 51.7 million in 3Q13, mainly due to the start-up of SHU
Simplicio in May 2013.
The CFURH increased 39.5% in line with the increase in gross revenues that grew 39.2%, since it is an applicable percentage under this line item.
It went from R$ 33.2 million in 2Q13 to R$ 46.3% in 3Q13.
Fuel for electricity production decreased 16.3%, from R$ 105.5 million in 2Q13 to R$ 88.3 million in 3Q13, mainly due to the reduction of gas
purchases to run the thermal unit of Santa Cruz.
Operating Revenue (expenses)
The balance of provisions for labor, tax, civil and other risks (former contingencies) decreased 72.8%, from R$ 111.4 million in 2Q13 to R$ 30.3
million in 3Q13, due to the reduction in labor law suits.
The net balance of provision/(reversal) of the Early Retirement Plan (PREQ) had a significant increase in 3Q13, from a revenue of R$ 43.1 million
in 2Q13 to a net expense of R$ 376.5 million in September, 30, 2013. This increase is due to additional provision to adjust the conditions of the
PREQ from Furnas to the PID Plan established by Eletrobras (PID) and the opening of a period for signing up. Furthermore, this amount includes a
provision of R$ 105 million related to health insurance for retirees of the PREQ - a right which will last for the next five years.
In 3Q13, a provision for losses on financial assets in the amount of R$ 284.6 million was constituted. Under Law No. 12.783/2013, transmission
contract No. 062/2001 now has two situations which require to registration of the realized investments: (i) part, which was postponed and has a
RAP, there is the registration of revenues obtained from operation and maintenance; however, for the new investments which w ill be allowed a
47
Marketletter
new RAP, the registration will be made under financial asset. Since these financial assets still do not have a revenue linked to them, a provision
had been established to cover losses in the same amount.
It is important to mention that in 3Q13 the provision for loss on onerous concession was reversed, as determined by Law No. 12.783/2013, in the
net amount of R$ 357.5 million, due to the fact that Furnas had made new impairment tests in the transmission and generation of electricity
contracts, as a result of changes in some calculations.
Financial Results
The net financial result showed a significant increase of expenditure from an expense of R$ 3.5 million in 2Q13 to R$ 146.6 million, due mainly
to: a) the decrease in other financial income, from R$ 157.3 million in 2Q13 to R$ 14.8 million in 3Q13, as a consequence of the reduction of the
indemnities revenues of Law No. 12.783/2013 and reversal of interest AVP of the Electronuclear contract; b) the increased charges on loans and
financing payable.
48
Marketletter
Market Data
1.Generation Assets and Energy generated
1.1.Own assets
Installed
Capacity
(MW)
Unit
Furnas
Luis Carlos Barreto (Estreito)
Mascarenhas de Moraes
Porto Colômbia
Marimbondo
Itumbiara
Funil
Corumbá I
Simplício
Serra da Mesa (48.46%)*
Manso (70%)
Santa Cruz
Roberto Silveira (Campos)
Guaranteed
Energy
(MW Average)
1,216
1,050
476
320
1,440
2,082
216
375
334
1,275
212
932
30
Energy generated – MWh
1Q13
598
495
295
185
726
1,015
121
209
192
671
92
687
21
2Q13
511,842
656,219
389,477
378,588
1,374,835
1,103,525
332,362
505,968
0
665,773
153,479
712,148
218
3Q13
777,285
650,172
402,637
369,287
1,318,373
894,181
227,606
629,885
95,402
547,600
107,134
724,656
0
1,302,058
919,060
642,714
389,911
1,484,165
1,836,050
223,456
381,786
200,733
720,129
91,908
328,521
0
* Contemplates percentage of participation of Furnas
Unit
Location
(State)
Beginning of Operation
End of concession
MG
SP/MG
MG
MG/SP
SP/MG
GO/MG
RJ
GO
RJ
GO
MT
RJ
RJ
03/1963
01/1969
04/1973
03/1973
04/1975
02/1980
04/1969
04/1997
06/2013
04/1998
10/2000
03/1967
04/1977
12/2042
12/2042
10/2023
12/2042
12/2042
02/2020
12/2042
12/2042
08/2041
11/2038
02/2035
12/2042
07/2027
Furnas
Luis Carlos Barreto (Estreito)
Mascarenhas de Moraes
Porto Colômbia
Marimbondo
Itumbiara
Funil
Corumbá I
Simplício
Serra da Mesa
Manso
Santa Cruz
Roberto Silveira (Campos)
1.2 SPE
SPE
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 SA
Installed
Capacity
(MW)
Guaranteed
Energy
(MW
Average)
HEU Peixe Angical and TL
Associated
452
271
740,134.88
1,280,270.89
1,774,141.49
HEU Baguari
140
80
175,081.93
141,796.57
77,371.04
82
39
87,268.09
60,495.71
22,070.84
HEU Foz de Chapecó
855
432
786,073.00
775,714.05
1,401,24.71
HEU Serra do Facão
212,6
182
116,287.81
113,295.00
134,571.00
SHE Santo Antônio*
3,568
2,342.03
614,042.00
NA
1,012,919.18
Unit
HEU Retiro Baixo
Energy generated MWh
1Q13
2Q13
3Q13
* 16 units in operation, totaling 1,151 MW of installed capacity
49
Marketletter
Unit
HEU
HEU
HEU
HEU
HEU
HEU
Participation
%
Location
(State)
Beginning of
Operation
End of concession
40.0
15.0
49.0
40.0
49.5
39.0
TO
MG
MG
RS/SC
GO
RO
2006
2009
2010
2010
2010
2012
11/2036
08/2041
08/2041
11/2036
11/2036
06/2043
Peixe Angical
Baguari
Retiro Baixo
Foz de Chapecó
Serra do Facão
Santo Antônio
2.Electric energy purchased for resale
2.1.Own assets
System
Eletrobras
Others
Total
Unit
1Q13
MWh
R$ Million
MWh
R$ Million
MWh
R$ Million
1,101,221
205.32
1,101,221
205.32
2Q13
3Q13
1,047,936
172.00
1,047,936
172.00
1,030,968
149.00
1,030,968
149.00
* Total contracted amount (including back-up energy)
Invoiced amounts.
2.2.SPE
UHE Foz de Chapecó
System
Eletrobras
Others
Total
Unit
1Q13
MWh
R$ Million
MWh
R$ Million
MWh
R$ Million
2Q13
3Q13
483.337
35.175
483.337
35.175
-
-
UHE Santo Antônio
System
Eletrobras
Others
Total
Unit
1Q13
MWh
R$ Million
MWh
R$ Million
MWh
R$ Million
2Q13
968.389
195
968.389
195
3Q13
NA
NA
NA
NA
1,180,399.25
282.08
1,180,399.25
282.08
Note: contemplates buying energy to restore coverage and loss.
UHE Peixe Angical
System
Eletrobras
Others
Total
Unit
MWh
R$ Million
MWh
R$ Million
MWh
R$ Million
1Q13
2Q13
-
113,880.00
21.36
113,880.00
21.36
3Q13
38,103.81
7.13
38,103.81
7.13
Nota: Comtemplates purchase of energy for back-up and lossos
50
Marketletter
3.Energy sold
3.1.Own assets
Buyer
Sales model
1Q13
R$ Million
MWh
A
B
A
B
A
B
Eletrobras System
Others
Total
17.10
533.47
23.35
550.57
23.35
178,066
5,283,371
188,508
5,461,437
188,508
2Q13
R$ Million
MWh
17.22
547.52
13.17
564.74
13.17
3Q13
R$ Million
175,137
5,148,287
102,536
5,323,424
102,536
MWh
15.53
522.41
13.64
537.94
13.64
163,101
4,824,677
106,139
4,987,778
106,139
A - Through auction
B - Through free market agreements or bilateral contracts
Obs.: As of January 2012 the Electricity Contracts Trading in the Regulated Market (CCEAR), under Available Electricity became effective. In the calculations, the contracted energy amounts billed are
being considered.
3.2.SPE
Enerpeixe S.A.
Buyer
1Q13
Sales model
R$ Million
A
B
A
B
A
B
Eletrobras
System
Others
Total
MWh
118.89
118.89
654,305.20
654,305.20
2Q13
R$ Million
MWh
227.00
227.00
1,235,702,46
1,235,702,46
3Q13
R$ Million
353.00
353.00
MWh
1,774,141,49
1,774,141,49
A - Through auction
B - Through free market agreements or bilateral contracts
UHE Foz do Chapecó
Buyer
Sales model
1Q13
R$ Million
A
B
A
B
A
B
167.93
167.93
-
Eletrobras
System
Others
Total
MWh
967,622
967,622
-
2Q13
R$ Million
9,446.44
7,110.35
9,446.44
7,110.35
3Q13
R$ Million
MWh
545,633.57
377,395.20
545,633.57
377,395.20
97,305.06
72,162.39
97,305.06
72,162.39
MWh
548,683.28
381,542.41
548,683.28
381,542.41
UHE Santo Antônio
Buyer
Eletrobras
System
Others
Total
Sales model
A
B
A
B
A
B
1Q13
R$ Million
31
313
31
313
MWh
313,040
2,139,646
313,040
2,139,646
2Q13
R$ Million
-
3Q13
R$ Million
MWh
-
MWh
3.49
33,700.82
106.57
339.78
110.06
339.78
1,012,361.30
2,369,090.13
1,046,062.12
2,369,090.13
51
Marketletter
UHE Serra do Facão
Sales
model
Buyer
1Q13
R$ Million
A
B
A
B
A
B
Eletrobras
System
Others
Total
2Q13
R$ Million
MWh
MWh
47.60
25.56
47.60
25.56
277,681.00
149,109.00
277,681.00
149,109.00
44.33
21.67
44.33
21.67
3Q13
R$ Million
MWh
254,910.00
124,603.00
254,910.00
124,603.00
47.37
23.28
47.37
23.28
256,335.00
125,972.00
256,335.00
125,972.00
UHE Retiro Baixo
Buyer
Sales model
1Q13
R$ Million
A
B
A
B
A
B
Eletrobras
System
Others
Total
12.9
12.9
-
2Q13
R$ Million
MWh
81,418.178
81,418.178
-
12.51
0.37
12.51
0.37
MWh
77,206.51
2,184.00
77,206.51
2,184.00
3Q13
R$ Million
12.89
0.37
12.89
0.37
MWh
77,736.11
2.2808.00
77,736.11
2.2808.00
UHE Baguari
Buyer
Sales model
1Q13
R$ Million
A
B
A
B
A
B
13.44
13.44
-
Eletrobras
System
Others
Total
2Q13
R$ Million
MWh
84,589.00
84,589.00
-
12.97
12.97
-
MWh
80,018.00
80,018.00
-
3Q13
R$ Million
13.44
13.44
-
MWh
80,797.00
80,797.00
-
4. CCEE settlement (Spot and MRE)
Unit
1Q13
R$ Million
MWh
MWaverage
R$ Million
MWh
MWaverage
R$ Million
MWh
MWaverage
Sold
Purchased
Net
2Q13
3Q13
287.86
18.25
69.70
287.86
(69.70)
18.25
5. Fuel used to produce electricity
1Q13
Type
Unit
Special Diesel oil
Fuel oil Type B1
Common Diesel oil
Gas
Other *
Total
litre
Ton
Litre
m3
-
2Q13
3Q13
Quantity
R$
million
Quantity
R$ million
Quantity
R$ million
355,027,357.99
95.9
286,405,811.99
116.26
304,212,580
97.29
355.027.357.99
95.9
286.405.811.99
116.26
304,212,580
97.29
52
Marketletter
6.Losses in generation - %
1Q13
2Q13
3Q13
3
3
3
Obs.: * Interconnected System Losses are calculated by ONS. The value of loss between generation and the center of gravity, as well as between the load and center of gravity, used in the Electricity
Market is 3%.
7.Average price– R$/MWh
7.1.Own assets
1Q13
2Q13
101.58
3Q13
106.51
108.28
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.
1Q13
181.70
158.53
158.83
173.34
171.41
129.83
2Q13
3Q13
187.53
162.10
162.12
179.37
173.90
130.48
187.23
165.76
166.29
183.10
184.81
131.72
53
Marketletter
8.Extension of transmission lines - Km
8.1.Own assets
8.1.1.Transmission line
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 - Cachoeira Paulista 1
Adrianópolis – Resende
Cachoeira Paulista - Resende
Adrianópolis - Cachoeira Paulista 3
Adrianópolis - Grajaú
Adrianópolis - São José
Angra - Cachoeira Paulista
Angra - Zona Oeste
Grajaú - Zona Oeste
Angra - São José
Araraquara - Campinas
Araraquara - Poços de Caldas
Cachoeira Paulista - Campinas
Cachoeira Paulista - Itajubá
Cachoeira Paulista - Taubaté
Cachoeira Paulista - Tijuco Preto
Campinas – Itatiba 1
Ibiúna - Itatiba 1
Gurupi – Miracema
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
Ibiúna - Bateias Circuito 1
Ibiúna - Bateias Circuito 2
Subtotal - 500 kV
Adrianópolis - Itutinga 1
Adrianópolis - Itutinga 2
Adrianópolis - Jacarepaguá 1
Adrianópolis - Jacarepaguá 2
Adrianópolis - Venda das Pedras
Macaé - Venda das Pedras
Adrianópolis - Macaé
Bandeirantes - Samambaia 1
Bandeirantes - Samambaia 2
Campinas - Guarulhos
Campinas - Poços de Caldas
Campos - Macaé 1
Campos - Macaé 2
Campos - Macaé 3
Campos – Viana
Viana – Vitória
Campos – Vitória
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
171.0
115.0
56.0
177.5
55.0
33.0
103.0
97.5
79.0
133.0
171.0
176.0
223.0
53.0
83.0
181.0
26.5
86.5
255.0
166.0
172.0
195.0
194.0
139.0
256.0
249.0
248.5
108,5
332.0
332.0
4,667.0
199.0
199.0
38.0
38.0
107.0
122.0
177.0
157.0
155.0
88.0
126.0
89.0
89.0
90.0
199.0
26.0
224.0
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
500
Feb/74
Dec/79
Dec/79
May/04
Dec/77
Aug/91
Jun/77
Mar/11
Mar/11
Dec/98
Jul/76
Apr/76
Sep/77
Jul/02
Jun/83
Nov/88
Mar/03
Mar/03
Mar/99
Jan/79
Aug/79
Apr/76
Aug/76
Jul/02
Mar/99
Mar/98
Jan/99
Mar/84
Mar/03
Mar/03
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
May/31
May/31
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
Nov/10
Nov/10
Sep/02
Feb/99
Feb/99
Feb/03
Oct/72
Nov/01
Sep/02
Jun/10
Dec/05
Dec/05
Oct/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
Mar/35
Dec/42
Dec/42
Dec/42
54
Marketletter
From - To
Corumbá - Brasília Sul
Corumbá – Itumbiara
Furnas - Itutinga 1
Furnas - Itutinga 2
Furnas - Mascarenhas de Moraes
Furnas - Estreito
L.C.Barreto - Estreito 2
Furnas – Pimenta
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
Mascarenhas - Estreito
L.C.Barreto - Estreito 1
L.C.Barreto - Poços de Caldas 1
L.C.Barreto - Poços de Caldas 2
L.C.Barreto - Volta Grande
Marimbondo - Porto Colômbia
Mogi - Nordeste
Mogi - Atibaia
Poços de Caldas - Atibaia
Vitória – Padre Fialho
Ouro Preto – Padre Fialho
Pimenta - Barreiro
Porto Colômbia - Volta Grande
Samambaia - Brasília Sul 1
Samambaia - Brasília Sul 2
Tijuco Preto – Itapeti 3
Tijuco Preto – Itapeti 4
Subtotal - 345 kV
Barro Alto - Niquelândia
Brasília Geral - Brasília Sul 2
Brasília Sul - Pirineus
Pirineus - Xavantes
Brasília Geral - Brasília Sul 1
Brasília Sul - Barro Alto
Itumbiara - Cachoeira Dourada
Itumbiara - Rio Verde 1 (1º trecho)
Itumbiara - Rio Verde 2
Rio Verde - Barra do Peixe 2
Rio Verde - Rondonópolis
Rio Verde - Barra do Peixe 1
Rio Verde - Cachoeira Dourada 1
Serra da Mesa - Niquelândia
Xavantes - Bandeirantes 2
Manso - Nobres
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 2
Campos - Cachoeiro do Itapemirim 1
Campos - Cachoeiro do Itapemirim 2
Extension
(km)
Tension
(kV)
Beginning of
Operation
End of
concession
254.0
79.0
198.0
199.0
104.0
112.0
24.0
66.0
131.0
131.0
75.0
75.0
30.0
182.0
184.0
97.0
97.0
180.0
180.0
201.0
13.0
24.0
198.0
197.0
112.0
77.0
20.0
64.5
142.5
220.5
162.5
198.0
45.0
12.5
15.0
21.0
21.0
6,265.5
87.0
13.0
107.0
40.0
13.0
132.0
44.0
208.0
202.0
240.0
257.0
240.0
175.0
105.0
20.0
66.0
1,949.0
1.5
1.5
48.0
48.0
19.5
20.0
20.0
19.5
34.0
34.0
96.0
105.0
106.0
106.0
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
345
345
345
345
345
345
345
345
Mar/97
Mar/97
Mar/68
Dec/69
May/68
Feb/70
Feb/70
Mar/67
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
Mar/69
Nov/69
Sep/70
Jun/73
Oct/75
Mar/64
Jan/13
Jan/13
Apr/13
Apr/13
Mar/67
Jun/73
Feb/99
Feb/99
Jan/13
Jan/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
230
230
230
230
230
230
230
230
230
230
230
230
230
230
230
230
Oct/99
Sep/07
Sep/07
Nov/06
Oct/72
Mar/82
Oct/73
Jan/86
Apr/92
Feb/94
Nov/82
Nov/87
Dec/86
Oct/99
Sep/73
May/98
Dec/42
Dec/42
Dec/42
Dec/42
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
Apr/81
Apr/81
Apr/73
Jan/73
Jul/76
Dec/98
Dec/98
May/75
Apr/71
Oct/77
Oct/77
Jun/87
Feb/73
Feb/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
55
Marketletter
From - To
Campos - Rocha Leão
Campos - Iriri
Iriri - Rocha Leão
Cachoeira Paulista - Volta Redonda 1
Jacarepaguá - Ari Franco
Jacarepaguá - Cosmos
Jacarepaguá - Mato Alto
Jacarepaguá - Palmares
Jacarepaguá - ZIN
Jacuacanga - Brisamar
Muriqui - Angra (Ampla)
Muriqui - Brisamar
Palmares - Mato Alto
Rio Verde - Ramal P. Emas - Couto Magalhães
Rio Verde - Cachoeira Dourada 2
Rocha Leão - Magé 1
Rocha Leão - Magé 2
Santa Cruz - ZIN - Ari Franco
Santa Cruz - ZIN – Cosmos
Santa Cruz - Brisamar 1
Santa Cruz - Brisamar 2
Santa Cruz - Jacarepaguá
Santa Cruz - Palmares 1
Santa Cruz - Palmares 2
Santa Cruz - ZIN
São José - Imbariê 1
São José - Imbariê 2
São José - Magé 1
São José - Magé 2
UTE Campos - Campos 1
UTE Campos - Campos 2
Manso - Nobres
Simplício – Rocha Leão 1
Simplício – Rocha Leão 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
Total
Extension
(km)
Tension
(kV)
Beginning of
Operation
End of
concession
110.0
97.0
13.0
105.0
10.0
24.0
16.0
28.0
33.0
44.0
36.0
20.0
13.0
254.0
174.0
108.0
108.0
31.0
17.0
20.0
13.0
38.0
14.0
14.0
5.0
18.0
18.0
46.0
46.0
1.0
1.0
70.0
119.0
119.0
2,442.0
16.0
15.0
67.0
67.0
19,798.5
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
138
138
138
138
138
138
138
Feb/73
Aug/73
Aug/73
Nov/86
Dec/67
Dec/67
Sep/73
Nov/72
Nov/72
Oct/77
Apr/71
Apr/71
Sep/73
Jan/77
Aug/77
Jan/73
Jan/73
Dec/67
Dec/67
Oct/77
Apr/71
Oct/72
Nov/72
Sep/73
Nov/72
Dec/98
Dec/98
Jun/01
Jun/01
Jul/77
Jul/87
Apr/98
Jun/13
Jun/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
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
Dec/42
56
Marketletter
8.1.2.Substation
Substation
Transformation
capacity
(MVA)
Location
Beginning of
Operation
End of
concession
Adrianópolis
Angra
Araraquara
Bandeirantes
Barro Alto
Brasília Geral
Brasília Sul
Cachoeira Paulista
Campinas
Campos
Foz do Iguaçu
Grajaú
Guarulhos
Gurupi
Ibiúna
Imbariê
Iriri
Itabera
Itutinga
Ivaiporã
Jacarepaguá
Macaé
Mogi das Cruzes
Niquelândia
Pirineus
Poços de Caldas
Resende
Rio Verde
Rocha Leão
Samambaia
São José
São Gonçalo
Tijuco Preto
Viana
Vitória
Zona Oeste
SE da Usina de Campos
SE da Usina de Corumbá
SE da Usina de Funil
SE da Usina de Furnas
SE da Usina de Itumbiara
SE da Usina de Luiz C. Barreto
SE da Usina de Mascarenhas de Moraes
SE da Usina de Marimbondo
SE da Usina de Manso
SE da Usina de Porto Colômbia
SE da Usina de Santa Cruz
SE da Usina de Serra da Mesa
SE da Usina de Simplício
2,580.00
967.07
1,383.33
182.66
270.00
1,544.20
583.30
2,156.70
1,283.33
15,975
2,800.00
11,600.40
11,006.00
1,350.00
1,846.66
2,400.00
42.50
17,014.70
750.00
969.20
556.00
300.00
1,399.17
5,074.99
1,333.32
1,287.66
2,393.32
312.50
425.00
1,544.00
1,576.20
-
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
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
São Gonçalo/Rio de Janeiro
Mogi das Cruzes/São Paulo
Viana/Espirito Santo
Serra/Espirito Santo
Nova Iguaçu/Rio de Janeiro
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
Ibiraci/Minas Gerais
Fronteira/Minas Gerais
Chapada dos Guimarães/Mato Grosso
Planura/Minas Gerais
Rio de Janeiro/Rio de Janeiro
Minaçu/Goiás
Sapucaia/Rio de Janeiro
11.1970
04.1971
04.1976
10.1972
03.1982
02.1960
03.1973
10.1976
09.1972
02.1973
12.1982
12.1979
09.1963
03.1999
04.1984
10.1968
10.2009
09.1982
04.1967
10.1982
12.1967
11.2001
03.1964
10.1999
11.2006
09.1963
04.2009
12.1975
12.1972
03.1998
08.1991
07.1977
09.1982
12.2005
11.1978
03.2011
12.1968
03.1997
12.1969
09.1963
03.1973
03.1969
12.1956
08.1975
11.2000
07.1973
06.1967
03.1998
08.2006
12.2042
12.2042
12.2042
12.2042
12.2042
12.2042
12.2042
12.2042
12.2042
12.2042
12.2042
12.2042
12.2042
12.2042
12.2042
12.2042
12.2042
12.2042
12.2042
12.2042
12.2042
12.2042
12.2042
12.2042
12.2042
12.2042
12.2042
12.2042
12.2042
12.2042
12.2042
12.2042
12.2042
12.2042
12.2042
12.2042
12.2042
12.2042
12.2042
12.2042
12.2042
12.2042
12.2042
12.2042
12.2042
12.2042
12.2042
12.2042
12.2042
57
Marketletter
8.2.SPE
8.2.1. Transmission lines
SPE
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 S.A
Transenergia Renovável S.A
Transenergia
Transenergia
Transenergia
Transenergia
Transenergia
Transenergia
Renovável
Renovável
Renovável
Renovável
Renovável
Renovável
S.A
S.A
S.A
S.A
S.A
S.A
Transenergia Renovável S.A
Transenergia Renovável S.A
Transenergia Renovável S.A
Transenergia Renovável S.A
Interligação Elétrica do
Madeira S.A.
Object
(From - To)
Participation
(%)
Extension
(km)
Tension
(kV)
Beginning
of
Operation
End of
concession
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
HEU Foz do Chapecó – SE de
Foz do Chapecó
HEU Retiro Baixo – SE
Curvelo
HEU Serra do Facão – SE
Celg de Catalão
HEU Baguari - SE Baguari
SE Baguari - Mesquita – Gov.
Valadares
SE Baguari - Mesquita
SE Baguari - Gov. Valadares
Barra dos Coqueiros Quirinópolis
Quirinópolis - TEU
Quirinópolis
Quirinópolis - TEU Boavista
Chapadão - Jataí
Jataí - Mineiros
Jataí - TEU Jataí
Jataí - TEU Água Emendada
Mineiros - Morro Vermelho
Morro Vermelho - TEU Morro
Vermelho
Morro Vermelho - TEU Alto
Taquari
Palmeiras - Edéia
Edéia - TEU Tropical
Bionenergia I
TL Coletora Porto Velho/
Araraquara II, CS
24.5
25.0
24.5
40.0
49.0
40.0
65.0
140.0
138.0
17.0
62.7
72.6
230
345
345
500
345
230
05/2007
02/2007
12/2006
04/2006
03/2010
03/2011
Dec-34
Oct-34
Feb-34
Nov-36
Mar-35
Nov-36
40.0
77.6
230
03/2011
Nov-36
40.0
1.0
230
03/2011
Nov-36
49.0
45.0
138
10/2010
Aug-41
49.5
32.0
138
10/2010
Nov-36
15.0
0.800
230
02/2010
Aug-41
15.0
2.5
230
04/2010
Aug -41
15.0
15.0
69.0
26.0
230
230
04/2010
04/2010
Aug -41
Aug -41
49.0
52.3
230
05/2011
Apr-39
49.0
34.4
138
05/2011
Jun-25
49.0
49.0
49.0
49.0
49.0
49.0
16.7
131.5
61.4
51.2
32.6
45.2
138
230
138
138
138
138
Jun-25
Jun-25
Jun-25
Jun-25
Jun-25
Jun-25
49.0
31.0
138
05/2011
12/2012
12/2012
12/2012
12/2012
12/2012
12/2012
12/2012
49.0
30.2
138
49.0
57.0
230
49.0
48.7
138
24.5
2,375
600 kV
Jun-25
Jun-25
05/2013
05/2013
Jun-25
08/13
Feb/39
Jun-25
8.2.2 Substations
Substation
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
Transformation
capacity
(MVA)
150
800.00
150.00
225.00
225.00
155.60
978.00
525.00
100.00
3,630.00
236.40
Local
Caldas Novas (GO)
Itatiba/São Paulo
Edéia/Goiás
Jataí/Goiás
Mineiros/Goiás
Morro Vermelho/Goiás
Quirinópolis/Goiás
Governador Valadares/Minas Gerais
Águas de Chapecó (SC)/Alpestre (RS)
Peixe/Tocantins
Pompéu/Minas Gerais
Porto Velho/Rondônia
Catalão/Goiás
Beginning of
Operation
08/2013
08/2012
02/2012
12/2012
12/2012
12/2012
04/2011
08/2006
11/2001
11/2001
08/2006
08/2007
11/2001
End of
concession
06/2041
11/2039
06/2025
06/2025
06/2025
06/2025
06/2025
08/2041
11/2036
11/2036
08/2041
06/2043
11/2036
58
Marketletter
9. Transmission losses - %
1Q13
2Q13
3Q13
3
3
3
Note: Interconnected System losses are calculated by ONS. The amount of loss between the generation and the center of gravity, as well as between the load and center of gravity, used in the Electricity
Market is 3%.
10. Main investments of parent company– R$ Million
Project
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
1Q13
85.5
0.3
16.4
35.4
9.7
0.5
23.1
0.0
0.0
0.0
0.0
52.8
3.3
0.0
3.0
0.5
14.9
30.7
2Q13
69.3
0.3
19.7
32.3
11.7
0.4
4.9
0
0
0
0
80
7.7
0
3.8
1.8
14.6
52.5
3Q13
64.9
First revision
2013
395.2
0.4
2.1
19.0
17.0
23.9
0.1
4.5
0
0
0
0
110.8
17.9
0.5
3.2
1.3
27.6
54.8
132.6
126.1
64.6
3.9
65.5
0.1
0.1
0.1
0.1
630.1
50.5
0.7
24.8
40.7
111.7
350.0
0.4
0.1
5.5
51.7
7.1
1.7
1.4
0.9
8.0
1.1
1.3
2.7
17.0
2.7
2.7
7.3
116.9
20.6
30.5
45.7
3.1
145.4
2.9
157.7
4.3
20.1
192.7
1,142.2
59
Marketletter
11.New investments
11.1.Generation
11.1.1.Own assets
Unit
Own assets
Location
(State)
Imunitação HEU
Batalha *
MG/GO
Imunitação HEU
Simplício / SCH
Anta ***
RJ/MG
Total of
Investment
Investment up to 3Q13
R$
R$
million**
million**
978.17
Basis: Aug/08
2,289.51
Basis: Dec/08
1,042.9
2,429.5
Installed
capacity
MW
Guaranteed
Energy
Beginning
Beginning of
End of
of
Construction concession
Operation
52.5
Estimated for
48.8 Turbine 1 and
2 – 10.13
333.7
Estimated
Simplício:
Turbine 1 –
06/13
Turbine 2 –
191.3
06/13
Turbine 3 –
06/13
Anta:
Turbine 1 and
2 – 10/13
Jun/08
Mar/07
Aug/41
Aug/41
* Considers HEU Batalha and associated transmission: SE HEU Batalha, TL Batalha – Paracatu 1 (Cemig) and SE Paracatu 1 (Cemig).
** Total value of the investment on the basis of the business plan of the enterprise. Value of the investment made in cash.
*** Considers HUE Simplício, SHU Anta and associated transmission: SE HEU Simplício – C, SE SHU Anta – C, SE Rocha Leão (Ampla) – C, TL Anta – Simplício and TL Simplício – Rocha Leão (Ampla).
60
Marketletter
11.1.2.SPE
SPE
Cia.
Hidrelétrica
Teles Pires
Madeira
Energia
S.A.
Brasventos
Eolo
Geradora
de Energia
S.A.
Rei dos
Ventos 3
Geradora
de Energia
S.A.
Brasventos
Miassaba 3
Geradora
de Energia
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
Central
Eólica Bom
Jesus
Central
Eólica
Cachoeira
Unit
Participation
(%)
Location
(State)
Total
Investiment (R$
million)
Actual
Investment
(R$ million)
Instaled
Capacity
(MW)
Assured
energy
Beginning of
Operation
Beginning of
Construction
End of
concession
HPP Teles
Pires
24.5
MT
4,257.8
2,718.33
1,820.00
915.4
Sep/14
Aug/2011
Dec/2046
HPP Santo
Antônio
39.0
RO
17,203.00
15,826.7
3,568
2,342.03
Mar/2012
Sep/2008
2043
EOL Rei dos
Ventos 1
24.5
RN
226.3
215.8
58.45
21.86
Nov/2013
Apr/12
Dec/2045
EOL Rei dos
Ventos 3
24.5
RN
226.3
202.6
60.12
21.07
Nov/2013
Jun/11
Dec /2045
EOL
Miassaba 3
24.5
RN
263.6
228.2
68.47
22.84
Nov/2013
Jun/11
Dec /2045
Famosa I
49.0
RN
80.0
3.81
22.50
11.1
Nov/12
May/2047
Pau Brasil
49.0
CE
52.0
2.54
15.00
7.7
Dec/2014
Nov/12
Mar/2047
Rosada
49.0
RN
105.0
4.76
30.0
13.4
Dec/2014
Nov/12
Sep/2048
São Paulo
49.0
CE
75.0
2.86
17.5
8.1
Dec/2014
Nov/12
Mar/2047
Goiabeira
49.0
CE
62.0
0.33
22.5
9.9
Jan/2016
Jan/2014
Jun /2047
Ubatuba
49.0
CE
41.0
0.25
12.5
5.8
Jan/2016
Jan/2014
Jun /2047
Santa
Catarina
49.0
CE
66.0
0.31
20.0
8.5
Jan/2016
Jan/2014
Jun /2047
Pitombeira
49.0
CE
100.0
0.40
30.0
13.9
Jan/2016
Jan/2014
Jun /2047
49.0
CE
75.0
0.31
22.5
9.0
Jan/2016
Jan/2014
Jun /2047
49.0
CE
100.0
0.36
30.0
12.8
Jan/2016
Jan/2014
Aug/2047
Jandaia
49.0
CE
100.0
0.39
30.0
14.1
Jan/2016
Jan/2014
Aug/2047
São
Clemente
49.0
CE
75.0
0.29
22.5
9.3
Jan/2016
Jan/2014
Jul /2047
Jandaia I
49.0
CE
75.0
0.32
22.5
9.9
Jan/2016
Jan/2014
Jul /2047
Horizonte
49.0
CE
58.0
0.28
17.5
7.3
Jan/2016
Jan/2014
Jul /2047
Bom Jesus
49.0
CE
112
-
18
8.1
Sep/15
Apr/2014
Apr/2049*
Cachoeira
49.0
CE
90
-
12
5
Sep/15
Apr/2014
Apr/2049*
São
Januário
Nossa
Senhora de
Fátima
Dec/2014
61
Marketletter
SPE
Central
Eólica
Pitimbu
Central
Eólica São
Caetano
Central
Eólica São
Caetano I
Central
Eólica São
Galvão
Central
Eólica
Carnaúba I
Central
Eólica
Carnaúba II
Central
Eólica
Carnaúba
III
Central
Eólica
Carnaúba V
Central
Eólica
Cervantes I
Central
Eólica
Cervantes
II
Central
Eólica
Punaú I
Unit
Participation
(%)
Location
(State)
Total
Investiment (R$
million)
Actual
Investment
(R$ million)
Instaled
Capacity
(MW)
Assured
energy
Beginning of
Operation
Beginning of
Construction
End of
concession
Pitimbu
49.0
CE
112
-
18
7.2
Sep/15
Apr/2014
Apr/2049*
São
Caetano
49.0
CE
141
-
26
11
Sep/15
Apr/2014
Apr/2049*
São
Caetano I
49.0
CE
112
-
18
7.7
Sep/15
Apr/2014
Apr/2049*
São Galvão
49.0
CE
133
-
24
9.5
Sep/15
Apr/2014
Apr/2049*
Carnaúba I
49.0
RN
121
-
22
9.1
Sep/15
Apr/2014
Apr/2049*
Carnaúba II
49.0
RN
106
-
18
7.1
Sep/15
Apr/2014
Apr/2049*
Carnaúba
III
49.0
RN
83
-
16
7.1
Sep/15
Apr/2014
Apr/2049*
Carnaúba V
49.0
RN
83
-
24
9.8
Sep/15
Apr/2014
Apr/2049*
Cervantes I
49.0
RN
99
-
16
6.9
Sep/15
Apr/2014
Apr/2049*
Cervantes
II
49.0
RN
84
-
12
5.4
Sep/15
Apr/2014
Apr/2049*
Punaú I
49.0
RN
128
-
24
10.7
Sep/15
Apr/2014
Apr/2049*
* Estimated time based on the schedule of events planned in the annex to Auction 05/2013 (LER).
62
Marketletter
Installed
capacity
MW
Guaranteed
Energy
Beginning
of
Operation
Beginning of
Construction
End of
concession
1,820.00
915.4
09/14
estimated
08/11
12/46
estimated
3,150.40
2,218.0
03/12
09/08
2043
226.3
Base:
Local currency
58.45
21.0
10/13
04/12
12/45
RN
226.3
Base:
Local currency
60.12
21.0
10/13
06/11
12/45
24.5
RN
263.6
Base:
Local currency
68.47
22.0
10/13
06/11
12/45
Famosa I*
49.0
RN
75.83
22.50
11.1
Jul/14
11/12
05/42
Pau Brasil*
49.0
CE
50.55
15.00
7.7
07/14
11/12
05/42
Rosada*
49.0
RN
101.10
30.0
13.4
07/14
11/12
09/42***
São Paulo*
49.0
CE
58.98
17.5
8.1
07/14
11/12
03/42
Goiabeira
49.0
CE
75.23
22.5
9.9
01/16
09/13
07/42
Ubatuba
49.0
CE
41.80
12.5
5.8
01/16
09/13
07/42
Santa
Catarina
49.0
CE
55.83
20.0
8.5
01/16
09/13
07/42
Pitombeira
49.0
CE
100.33
30.0
13.9
01/16
09/13
07/42
49.0
CE
75.23
22.5
9.0
01/16
09/13
07/42
49.0
CE
100.33
30.0
12.8
01/16
09/13
08/42
Jandaia
49.0
CE
100.33
30.0
14.1
01/16
09/13
08/42
São
Clemente
49.0
CE
75.23
22.5
9.3
01/16
09/13
07/42
Jandaia I
49.0
CE
75.23
22.5
9.9
01/16
09/13
07/42
Horizonte
49.0
CE
58.50
17.5
7.3
01/16
09/13
07/42
SPE
Unit
Participation
%
Location
Cia.
Hidrelétrica
Teles Pires
HPP Teles
PIres
24.5
MT
Madeira
Energia S.A.
HPP Santo
Antônio
39.0
RO
EOL Rei
dos Ventos
1
24.5
RN
EOL Rei
dos Ventos
3
24.5
EOL
Miassaba 3
Brasventos
Eolo
Geradora de
Energia S.A.
Rei dos
Ventos 3
Geradora de
Energia S.A.
Brasventos
Miassaba 3
Geradora de
Energia 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
São
Januário
Nossa
Senhora de
Fátima
Total of
Investment
R$ million
4,257.8
Base:
Local currency
17,203.00
Base:
Local currency
Investment
up to 3Q13
R$ million
* Furnas has the right to participate in these ventures, as per Statement of Commitment signed for this purpose, provided the assumptions set forth herein. To date, this right has not been exercised.
** Current values.
*** This date is only an estimate since the publication of the concesssion permit of the wind farm has not occurred.
63
Marketletter
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 3Q13
R$ million
Extension
of lines
(km)
Tension
(kV)
Beginning of
Operation
End of
concession
166.00
Basis: Oct/05
226.8
50
345
Itapeti – Nordeste 06/14
Apr/36
120.1
Basis: Dec/08
117.8
180
500
Estimated 02/14
Jan/39
67.20
Basis: Nov/09
8.1
99
230
Estimated 07/15
Jul/40
27.10
Basis: Sep/11
3.0
50
230
Estimated 10/14
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.
**Includes, in addition to the TL 230 kV Mascarenhas-Linhares, the SE Mascarenhas (Escelsa) and Linhares (Escelsa).
11.2.1.2.Substations
SE
SE Zona Oeste 500 /
138
kV
(Auction
002/12, Part E)
Total of
Investment
R$ million*
Investment up
Transformation
to 3Q13 R$
capacity
**
million
43.38
Basis: Mar/12
Installation of
500/138 kV –
(3+1R) x 300 MVA
transformer plus
respective
connections to
transformers
5.1
Location
(State)
Beginning of
Operation
End of
concession
RJ
May/14
May/42
* Total value of the investment on the basis of the business plan of the enterprise.
** Value of the investment made in cash.
64
Marketletter
11.2.2.SPEs
11.2.2.1.Transmission lines
SPE
Interligação Elétrica
Madeira S.A. (IE
Madeira)***
Object
(From - To)
Participation
%
Lot D:
Porto Velho –
Araraquara 2***
Consórcio Triângulo
Mineiro
TL Marimbondo II
– Assis
Consórcio Paranaíba
TL Barreiras II –
Rio das Éguas
TL Rio das Éguas
– Luziânia
TL Luziânia –
Pirapora
Investment
up to 3Q13
R$ million**
Extension
of lines KM
Tension
Beginning of
Operation
End of
concession
08/2013
24.5
Lot F:
Converting Porto
Velho - Bipole 2
TL Chapadão –
Jataí
TL Palmeiras –
Edéia
TL Jataí –TEP
Jataí
TL Jataí – TEP
Transenergia
Perolândia
Renovável S.A.
TL Mineiros – TEP
Conexão de Usinas de
Água Emendada
Biomassa e Pequenas
TL Morro
Centrais Hidrelétricas
Vermelho – TEP
(PCH) ao SIN
Alto Taquari
TL Edéia – TEP
Tropical
Bioenergia I
TL Edéia – TEP
Tropical
Bionenergia II
Serra da Mesa –
Niquelândia
Transenergia Goiás
S.A.
Niquelândia Barro Alto
Rio Verde Norte Trindade
Trindade –
Goiás Transmissão S.A.
Xavantes
Trindade –
Carajás
Mesquita - Viana
2
MGE Transmissão S.A.
Viana 2 - Viana
Total of
Investment
R$ million*
3,500.9
(Basis:
dec/2011)
3,136.4
2,375
600
02/2039
01/2014
128
230
60
51.2
40
49
365.6
(Basis:
dec/2011)
420.0
24
05.2013
06/2025
138
31
49
21
49
49
81.71
(Basis:
dec/2011)
365.6
(Basis:
dec/2011)
100
230
12/2014
88
230
09/2014
193
500
6.1
483.5
37
11/2039
10/2013
07/2040
02/2014
07/2040
12/2015
08/2043
05/2016
05/2043
230
29
49
49
279.65
(Basis:
dec/2011)
266.040
(Basis:
dec/2012)
335.4
16.2
24.5
24.5
906.624
(Basis:
dec/2012)
58.0
24.5
248
500
10
345
296.5
500
244
500
373
500
350
500
* Total value of the investment on the basis of the business plan of the enterprise.
** Value of the investment made in cash.
*** The LT Porto Velho-Araraquara, was declared in commercial operation in 8/1/2013, with early receipt of RAP. However, the final tests have not yet been implemented due to impossibility of Santo Antônio
HPP provide 12 UG's concomitant form operand. The final tests are planned to occur even in November 2013. The Converter (Porto Velho and Araraquara) are in deployment.
11.2.2.2.Substations
SE
Total of
Investment
R$
Transformation
capacity (WMA)
Location
Beginning of
operation
End of
concession
SE Luziânia and
Niquelândia
39,226,000.00
255
Luziânia GO
Niquelândia GO
12/ 2013
May/42
65
Marketletter
12. Loans and financing – R$ Million
Local currency - LC
Creditor
Balance
03.31.13
Balance
06.30.13
Balance
09.30.13
40
78
11
261
1
350
213
670
4
624
634
274
142
885
164
50
10
215
420
89
118
210
766
202
6,431
38
75
10
261
1
350
213
670
4
616
628
271
144
868
160
49
10
220
429
88
116
500
214
755
206
6,896
36
70
9
255
1
347
211
663
3
599
612
265
144
851
202
48
10
216
406
90
118
1,020
211
772
203
7,362
Eletrobras
Eletrobras
Eletrobras
Eletrobras
Eletrobras
Eletrobras
Eletrobras
Eletrobras
Eletrobras
Eletrobras
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Caixa Econômica Federal
Banco do Brasil S.A.
Banco do Brasil S.A.
Basa
Due Date
Index
03/2018
12/2018
12/2015
03/2023
10/2014
06/2030
12/2030
11/2029
10/2016
06/2030
06/2021
12/2022
08/2020
07/2026
12/2025
07/2026
01/2022
07/2020
08/2020
10/2020
10/2020
05/2023
02/2018
10/2018
07/2017
9.5% p.y.
7% p.y.
7% p.y.
IPCA + 7% p.y.
6.5% p.y.
IPCA + 7% p.y.
IPCA + 7% p.y.
IPCA + 7% p.y.
6.5% p.y.
IPCA + 7% p.y.
IPCA + 7% p.y.
IPCA + 7% p.y.
Selic
TJLP + 1.91% p.y.
TJLP + 3.00% p.y.
TJLP + 2.18 p.y.
8.70% p.y.
111% CDI
111% CDI
111% CDI
111% CDI
113,7% CDI
110% CDI
107.3% CDI
102.89% CDI
Foreign currency - FC
Creditor
Eletrobras
Eletrobras
BID
Balance
03.31.13
Balance
06.30.13
41
182
130
353
Balance
09.30.13
40
170
178
388
Due Date
Currency
04.2018
10.2018
12.2031
US$
Yen
US$
41
175
180
396
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
2013
2014
2015
2016
2017
After
2017
Total
(LC + FC)
343
85
70
31
294
82
323
80
1,090
81
5,085
194
7,205
553
272
156
428
79
22
101
283
93
376
305
98
403
336
835
1,171
2,156
3,123
5,279
3,431
4,327
7,758
66
Marketletter
13.1.2.SPE
Loans and financing
By activity
Generation
Transmission
By creditor
BNDES
Banco da Amazônia S.A. - FNO
Banco do Brasil – FCO
BNDES LP
Total
After
2017
Total
(LC + FC)
2013
2014
2015
2016
2017
4,567.24
779.84
4,525.62
739.53
4,350.05
689.11
8.22
129.84
0
0
0
0
13,451.13
2,338.32
4,242.77
303.28
49.39
751.64
5,347.08
4,196.29
316.57
49.39
702.90
5,265.15
4,018.01
319.95
49.39
651.81
5,039.16
8.22
0
49.39
80.45
138.06
0
0
0
0
0
0
0
0
0
0
12,465.29
939.80
197.56
2,186.80
15,789.44
13.2.Energy purchase
13.2.1 Parent company
Energy Purchase Contracts
2013
MWh
R$ million
2014
4,003,336
638
2015
988,185
112
2016
241,776
4
2017
242,438
4
241,776
4
After 2017
241,776
4
Note: the power purchase agreement of Eletronuclear was terminated on 12.31.2012.
13.2.2. SPE – ND
13.3.Energy sale
13.3.1.Parent company
Contracts of
Energy sale
Regulated Market
Bilateral
Contract
Total
Unit
2013
MWh
R$ Million
MWh
R$ Million
MWh
R$ Million
39,373,440
2,631
464,128
52
39,837,568
2,683
2014
2015
29,613,602
1,739
105,120
12
29,718,722
1,751
2016
28,397,962
1,646
519,643
65
29,917,605
1,711
28,397,962
1634
414,523
51
28,812,485
1,685
2017
After
2017
26,120,218
1,313
414,523
51
26,534,741
1,364
26,120,218
1,313
414,523
51
26,534,741
1,364
13.3.2.SPE
Foz do Chapecó
Energy Contracts
Regulated Market
Bilateral
Contract
Total
Unit
2013
MWh
1,128,832.44
R$ thousand
19,645.74
MWh
763,084.80
R$ thousand
14,432.48
MWh
1,891,917.24
R$ thousand
34,078.22
2014
2,268,840.00
39,485.97
1,513,728.00
28,629.64
3,782,568.00
68,115.61
2015
2016
2017
After
2017
2,268,840.00
2,275,056.00
2,268,840.00
54,489,456.04
39,485.97
39,594.15
39,485.97
948,312.46
1,513,728.00
1,513,728.00
1,517,875.20
15,019,430.40
28,629.64
28,629.64
28,708.08
284,067.49
3,782,568.00 3,788,784.00 3,786,715.20 69,508,886.44
68,115.61
68,223.79
68,194.05
1,232,379.95
Enerpeixe S.A.
Energy sale contracts
Regulated Market
Bilateral
Contract
Total
Unit
MWh
R$ Million
MWh
R$ Million
MWh
R$ Million
2013
2,487,840.00
466.00
2,487,840.00
466.00
2014
0.00
0.00
0.00
0.00
2015
0.00
0.00
0.00
0.00
2016
0.00
0.00
0.00
0.00
2017
0.00
0.00
0.00
0.00
After
2017
0.00
0.00
0.00
0.00
67
Marketletter
UHE Santo Antônio
Energy sale
contracts
Regulated Market
Bilateral
Contract
Total
Unit
2013
2014
MWh
3,437,449.83
8,752,712.63
R$ Million
360.36
939.75
MWh
9,172,408.02 10,878,535.78
R$ Million
1,292.55
1,657.76
MWh
12,609,857.84 19,631,248.42
R$ Million
1,652.91
2,597.50
2015
2016
2017
After 2017
13,126,666.57
13,638,038.40
13,600,776.00
326,642,198.44
1,412.17
1,467.18
1,463.17
35,140.17
6,212,208.96
5,844,873.60
5,828,904.00
58,232,794.20
1,116.23
1,050.32
1,047.45
10,463.60
19,338,875.52 19,482,912.00 19,429,680.00 384,874,992.64
2,528.40
2,517.50
2,510.62
45,603.77
UHE Serra do Facão
Energy sale contracts
Regulated Market
Bilateral
Contract
Total
Unit
2013
MWh
1,059,960.00
R$ Million
184.27
MWh
525,600.00
R$ Million
91.37
MWh
1,585,560.00
R$ Million
275.64
2014
1,059,960.00
192.56
525,600.00
95.48
1,585,560.00
288.04
2015
1,059,960.0
201.23
525,600.00
99.78
1,585,560.00
301.01
2016
1,062,864.00
210.86
527,040.00
104.56
1,589,904.00
315.42
2017
After 2017
1,059,960.00
219.75
525,600.00
108.96
1,585,560.00
328.71
25,440,000.00
5,511.57
12,624,000.00
2,734.99
38,064,000.00
8,246.56
UHE Baguari
Energy sale contracts
Regulated Market
Bilateral
Contract
Total
Unit
2013
2014
2015
2016
2017
MWh
R$ Million
MWh
R$ Million
MWh
R$ Million
330,515
38.23
330,515
38.23
330,515
38.23
330,515
38.23
330,515
38.23
330,515
38.23
330,515
38.23
330,515
38.23
330,515
38.23
330,515
38.23
After
2017
4,238,572
490.32
4,238,572
490.32
Obs.: There are no bilateral contracts at the Baguari Hydro Unit
Retiro Baixo Energética S.A.
Energy sale contracts
Regulated Market
Bilateral
Contract
Total
Unit
MWh
R$ Million
MWh
R$ Million
MWh
R$ Million
14.Number of employees
2013
2014
315,360.00
52.30
8,760.00
1.50
324,120.00
53.80
308,792.45
51.20
8,760.00
1.50
317,552.45
52.70
2015
308,792.49
51.20
8,760.00
1.50
317,552.49
52.70
2016
309,635.61
51.30
8,784.00
1.50
318,419.61
52.80
2017
308,792.49
51.20
8,760.00
1.50
317,552.49
52.70
After 2017
6,488,857.87
1,075.60
8,016.00
1.30
6,496,873.87
1,076.90
(including requested employees from other Eletrobras companies/ excluding employees assigned to other
Eletrobras companies)
14.1.By tenure
Composition of employees by
tenure (Years)
Up to 5
6 to 10
11 to15
16 to 20
21 to 25
Up to 25
Total
1Q13
833
1,235
411
194
434
1,341
4,448
2Q13
836
1,230
368
229
380
1,221
4,264
3Q13
842
1,225
356
237
304
926
3,890
Note: Furnas has 19 requested employees which are not rostered by tenure.
68
Marketletter
14.2.By departments
Departmants
Administrative
Operational
Total
Number of employees
2Q13
1Q13
1,103
3,345
4,448
1,285
2,979
4,264
3Q13
1,164
2,726
3,890
14.3.By region
State
Distrito Federal
Espírito Santo
Goiás
Minas Gerais
Mato Grosso
Paraná
Rio de Janeiro
Rondônia
São Paulo
Tocantins
Total
1Q13
Number of employees
2Q13
158
80
288
716
13
189
2,342
45
607
10
4,448
164
74
280
681
13
183
2,243
39
580
7
4,264
3Q13
161
62
273
615
13
171
2,071
27
490
7
3,890
15.Complementary work force
Operational
1Q13
2Q13
3Q13
1,489
1,459
1,451
16.Turn-over
1Q13
2Q13
3Q13
0.0106
0.0226
0.0472
69
Marketletter
Balance Sheet
(R$ thousand)
Assets
Current Assets
Cash and banks
Applications on the open market
Credits, property values
Clients
(-)Provision for credits of questionable liquidation
Receivables - Law 12,783/13
Taxes and contributions
Marketable securities
Advances to employees
Stored materials
Service in course
Collaterals and linked deposits
Financial assets – public service concession
Others
Non-Current Assets
Long-term assets
Clients
Receivables - Law 12,783/13
Taxes and contributions
Marketable securities
Goods and rights for sale
Collaterals and linked deposits
Financial assets – public service concessions
Others
Investments
Property, unit and equipment
Intangible
Total Assets
09.30.13
12.31.12
69,244
412,173
481,417
29,098
65,647
94,745
522,115
(209,764)
1,254,584
88,146
2,693,691
37,973
88,672
114,687
10,982
77,431
128,096
5,288,030
918,550
(183,740)
4,736,747
177,508
229,018
4,542
85,380
100,330
11,003
77,023
70,490
6,321,596
16,287
1,768,797
1,986,025
3,558
11,852
645,225
3,029,600
273,410
7,734,754
2,919,523
1,510,436
27,614
12,192,327
17,480,357
19,571
2,719,769
1,857,298
4,308
7,129
482,794
2,599,705
50,777
7,741,351
2,250,456
1,371,394
29,458
11,392,659
17,714,255
70
Marketletter
Liabilities
Current Liabilities
Suppliers
Payroll
Taxes and social contribution
Loans and financing
Debt charges
Shareholders remuneration
Estimated obligations
Early Retirement Plan
Retirement benefits
Other operational provisions
Sector charges
Others
Non-Current Liabilities
Taxes and social contribution
Fiscal debts
Loans and financing
Retirement benefits
Sector charges
Provisions for contingencies
Provision for onerous contract – Camaçari, Itaparica and Jirau
Others
Stockholders’ Equity
Social Capital
Capital reserves
Other comprehensive income
Accrued losses
Total Liabilities and Stockholders’ Equity
09.30.13
12.31.12
327,723
34,817
88,468
59,496
496
34
176,153
505,099
201,953
24,456
1,418,695
321,729
16,228
115,895
70,239
778
41
134,787
2,523
106,461
201,408
51,561
1,021,650
13,572
63,015
306,365
743,607
185,765
1,444,965
1,896,095
5,605
4,658,989
13,572
54,225
398,087
705,788
151,718
1,388,685
2,303,556
5,515
5,021,146
9,753,953
4,916,199
(805,746)
(2,461,733)
11,402,673
17,480,357
9,753,953
4,916,199
(805,879)
(2,192,814)
11,671,459
17,714,255
71
Marketletter
Statement of Income by activity
(R$ thousand)
09.30.13
Net Operating Revenue
Operating cost
Cost with electric energy
Electric energy purchased for resale
Charges on the use of electric grid
Cost of operation
Personnel
Material
Fuel for production of electric energy
Third party services
Financial compensation for the use of
hydro resources
Depreciation and amortization
Inspection fee
Provision (reversion) onerous contracts
Others
Cost of service rendered to third
parties
Construction costs
Gross operating income
Operating expenses
Sales expenses
Provision for credits of questionable
liquidation
Losses - Consumer/Concessionaries
Losses – free energy
Others
General and administrative expenses
Personnel
Material
Third party services
Depreciation and amortization
Provisions for contingencies
Impairment Camaçari and Curemas
Provision MP 579
Others
Service results
Equity income result
Gains in equity
Losses in equity
Financial Revenue (Expense)
Income from financial applications
Monetary variation and arrears –energy
sold
Other monetary variations – assets
Update on receivables – Law 12,783/13
Other financial revenues
PIS/Pasep/Cofins
Debt charges
Monetary variation on loans and financing
Other monetary variations – liability
Other financial expenses
Operating result
Soial contribution - current
Social contribution - deferred
Income tax - current
Income tax deferred
09.30.12
Generation
2,156,600
Transmission
996,539
Total
3,153,139
Generation
3,328,558
Transmission
1,165,938
Total
4,494,496
(450,318)
(609,314)
-
(649,493)
-
(68,865)
(2,692)
(721,407)
(14,548)
(177,879)
(4,543)
(35,973)
(450,318)
(609,314)
(246,744)
(7,235)
(721,407)
(50,521)
(65,306)
(2,747)
(2,083)
(11,805)
(169,535)
(4,592)
(38,792)
(649,493)
(234,841)
(7,339)
(2,083)
(50,597)
(16,534)
-
(16,534)
(192,049)
-
(192,049)
(28,326)
(7,508)
323,322
46,321
(1,549,869)
(5,903)
84,139
251
(139,908)
(28,326)
(13,411)
407,461
46,572
(1,689,777)
(255,583)
(9,506)
29,777
(1,158,795)
(6,353)
(1,542)
(220,814)
(255,583)
(15,859)
28,235
(1,379,609)
-
(943)
(943)
-
(4,474)
(4,474)
(46,314)
560,417
(569,511)
286,177
(615,825)
846,594
2,169,763
(400,215)
540,435
(400,215)
2,710,198
(20,047)
(5,977)
(26,024)
(111,132)
(12,244)
(123,376)
(4,270)
(254)
(98)
(4,270)
(352)
(16,261)
(266)
13,273
(153)
(16,261)
(266)
13,120
(280,035)
(2,382)
(29,074)
(36,550)
(22,013)
14,217
(46,415)
(28,651)
(455,474)
104,943
(799,051)
(6,558)
(43,776)
(13,630)
(57,758)
(126,510)
(71,269)
(1,124,627)
(838,450)
(1,079,086)
(8,940)
(72,850)
(50,180)
(79,771)
14,217
(172,925)
(99,920)
(1,580,101)
(733,507)
(94,703)
(2,242)
(32,709)
(35,997)
(48,739)
(35,155)
(363,931)
1,805,832
(294,532)
(6,692)
(53,125)
(17,543)
(136,759)
(54,491)
(575,539)
(35,104)
(389,235)
(8,934)
(85,834)
(53,540)
(185,498)
(89,646)
(939,470)
1,770,728
6,997
(13,685)
69,018
(6,388)
76,015
(20,073)
10,238
(7,999)
53,994
(6,094)
64,232
(14,093)
(21,786)
10,756
(11,030)
63,323
21,689
85,012
28,634
6,028
34,662
41,277
5,326
46,603
167
211,021
11,202
(5)
229,233
194
(146)
(11,038)
(10,990)
218,243
316,498
(8,290)
(9,994)
434
63,223
20,670
(1)
101,110
(20,781)
(473)
(117)
(4,860)
(26,231)
74,879
(700,941)
29,178
104,630
601
274,244
31,872
(6)
330,343
(20,587)
(473)
(263)
(15,898)
(37,221)
293,122
(384,443)
20,888
94,636
325
11,030
(47)
115,908
(6,602)
(126)
(69,546)
(76,274)
39,634
1,847,705
(175,498)
7,225
(471,006)
26,401
939
13,534
(21)
41,467
(25,822)
(364)
(356)
(5,279)
(31,821)
9,646
22,442
(1,334)
635
(3,049)
3,149
1,264
24,564
(68)
157,375
(32,424)
(364)
(482)
(74,825)
(108,095)
49,280
1,870,147
(176,832)
7,860
(474,055)
29,550
72
Marketletter
09.30.13
Generation
Fiscal incentives
Net income for the period
Basic income per share (R$)
298,214
5.33
Transmission
(567,133)
(10.14)
09.30.12
Total
(268,919)
(4.81)
Generation
327,924
1,562,751
30.21
Transmission
2,138
23,981
0.46
Total
330,062
1,586,732
30.68
73
Marketletter
Cash Flow
(R$ thousand)
09.30.13
Operating Activities
Net income for the period
Expenses (revenues) not affecting cash
Depreciation and amortization
Net monetary and currency variations
Shareholders equity
Provision for contingencies
Provision for credits of questionable liquidation
Provision for loss on realization of investments
Reversion of other operational provisions
Post-retirement benefits
Legal deposits adjustment
Adjustment of rural debt bonds
Financial income
Financial charges
Dividends adjustment
Early retirement Plan
Adjustment debt balance – Taxes and social contribution
Reversion for onerous contracts
Impairment reversion
Financial income
Financial charges paid to shareholders and related parties
Financial charges paid to financial institutions and other parties
Payment of pension fund
Payment of taxes and social contributions
Legal deposits
Payment of participation in profit or results
Variations in Assets and Liabilities
Customers
Stored materials
Taxes
Advances to employees
Legal linked deposits
Services in course
Advance for future capital increase in jointly owned enterprises
Suppliers
Estimated obligations
Sectorial charges
Provision for contingencies
Fachesf Saude Mais
Other operating assets and liabilities
Total of operating activities
Investment Activities
Receivables – Law 12,783/13
Asset investment
Intangibles investment
Realization of financial assets - public service concessions
Permanent equity participation
Dividends received
Marketable securities
Property, unit and equipment and Intangible asset discharges
Financing Activities
Resources received from shareholders and related parties
Loans and financing obtained
Payments of loans and financing
Shareholder Remuneration
Total of cash effects
Cash and cash equivalent – beginning of period
Cash and cash equivalent – end of period
Cash variation
09.30.12
(384,443)
1,870,147
78,506
(151,263)
(55,942)
79,771
26,024
172,825
(12,176)
82,650
(16,808)
(126)
(33,979)
20,587
505,099
(3,880)
(407,461)
(14,217)
(125,047)
(239,880)
(5,308)
(11,556)
(47,350)
(36,654)
(94,285)
309,123
(7,874)
(50,139)
185,498
123,376
22,988
(12,150)
(161)
(516,929)
32,424
59,404
2,015,707
(6,582)
(33,882)
(149,576)
(221,474)
(100,924)
(102,449)
399,719
(3,292)
61,402
(33,431)
(108,948)
(14,357)
(216,381)
5,994
41,366
22,191
(23,491)
(28,648)
(5,462)
(98,491)
(338,371)
(223,370)
2,032
(13,292)
(13,821)
(1,801)
(10,608)
(10,500)
(140,908)
56,509
41,861
28,468
(24,404)
(924,721)
1,090,986
4,707,379
(234,085)
(3,533)
(569,149)
(638,357)
22,673
(2,463,923)
6,514
827,519
(349,336)
(3,576)
294,953
(484,294)
22,842
164,333
15,559
(339,519)
(102,476)
(102,476)
386,672
94,745
481,417
386,672
46,994
4,741
(297,734)
(620,958)
(866,957)
(115,490)
268,638
153,148
(115,490)
74
Marketletter
Analysis of the results
Chesf recorded a net loss of R$ 3.8 million in the 3Q13, compared to a net loss of R$ 405.7 million recorded in 2Q13, mainly due to the
recognition of the effects of the Early Retirement Program - PIDV, made in 2Q13. The main changes in revenues and costs/expenses are shown
below.
Operating revenue
Generation:
The company presented, in 3Q13, generation revenue 31.6 % lower than in 2Q13, from R$ 925.2 million to R$ 632.8 million, main ly due to the
following factors:
• The electricity supplied directly to industries increased by 4.4%, from R$ 202.4 million in 2Q13 to R$ 211.4 million in 3Q13, resulting from
expiration of existing contracts in relation to signing of new contracts;
• The operation and maintenance of power plants and electricity supply decreased by 3.9%, from R$ 426.2 million in 2Q13 to R$ 409.6 million in
3Q13, due to the recording of the Financial Compensation in 2Q13 for the use of water resources - CFURH;
• Under the Energy Trading Chamber - CCEE, in the short-term market, revenues went from a gain of R$ 295.2 million in 2Q13 to an expense of
R$ 36.0 million in 3Q13;
• Construction revenue showed the amount of R$ 46.3 million in 3Q13. It’s not comparable to 2Q13, due to the investments made in the units
whose concessions were renewed, which are characterized as a financial asset.
Transmission:
The company had, in 3Q13, a transmission revenue 66.3% higher than in 2Q13, from R$ 297.4 million to R$ 494.7 million, mainly due to the
following factors:
• Transmission revenue - operating and maintenance increased by 8.3% from R$ 153.4 million in 2Q13 to R$ 166.1 million in 3Q13, due to the
start-up of new ventures, and the annual adjustment established in the concession contract;
• Construction revenue increased by 136.8% from R$ 133.0 million in 2Q13 to R$ 315.0 million in 3Q13, due to the progress of construction of
the transmission system;
• Financial income increased by 37.0%, from R$ 7.3 million in 2Q13 to R$ 10.0 million in 3Q13, due to the adjustments for the period;
• The other items, on average, showed no significant variations or impact.
Cost of electricity service
The main determinants of the evolution of costs in the period were:
Generation:
• Personnel expenses increased by 8.8%, from R$ 22.7 million in 2Q13 to R$ 24.7 million in 3Q13 mainly due to post-employment benefits;
• Materials expenses decreased by 68.4% from R$ 1.9 million in 2Q13 to R$ 0.6 million in 3Q13 due to the restructuring of the Company's
expenses;
• The fuel for energy production decreased by 95.1%, from R$ 340.5 million in 2Q13 to R$ 16.8 million in 3Q13, due to the operation reduction
at Camaçari Plant;
• The third-party services increased by 31.1% from R$ 4.5 million in 2Q13 to R$ 5.9 million in 3Q13;
• The balance compensation for the use of water resources decreased by 8.6% from R $ 3.5 million in 2Q13 to R$ 3.2 million in 3Q13 due to the
energy production of the period;
• The Reversal for onerous contract decreased by 14.0% from R $ 161.8 million in 2Q13 to R$ 139.2 million in 3Q13, due to the reversal of part
of a provision during this period, due to the updating of studies conducted by the Company for the period;
• Construction costs had R$ 46.3 million in 3Q13 without comparison with the second quarter of 2013 due to investments made in the extended
units characterized as financial asset.
Transmission:
• The Personnel expenses increased by 7.9% from R$ 59.8 million in 2Q13 to R$ 64.5 million in 3Q13 mainly due to post-employment benefits;
75
Marketletter
• The Materials expenses decreased by 31.6 % from R$ 1.9 million in 2Q13 to R$ 1.3 million in 3Q13 due to the restructuring of the Company's
expenses;
• The third-party services increased by 2.3% from R$ 12.9 million in 2Q13 to R$ 13.2 million in 3Q13;
• The Reversal for onerous contract had revenues of R$ 76.5 million in 2Q13 without comparison to 3Q13, due to the reversal of a provision in
2Q13 and updating of studies made by the Company;
• Construction costs increased by 136.8 %, from R$ 133.0 million in 2Q13 to R$ 315.0 million in 3Q13 due to the construction progress of the
transmission system.
The other items, on average, showed no significant variations.
Operating revenue (expense)
Generation:
The general and administrative expenses decreased by 70.1 % (R$ 201.0 million), from R$ 286.7 million in 2Q13 to R$ 85.7 million in 3Q13
mainly due to variation in personnel expenses [-89.4% (R$ 200.8 million)], due to the registration of the Early Retirement Plan - PIDV; the
variation on Materials expenses [+50.0% (R$ 0.3 million)], the third-party services expenses [+1.0 % (R$0.1 million)] due to the restructuring of
the Company's expenses and depreciation and amortization [-0.8% (R $ 0,1 million)], and provisions for losses on investments in generation (R$
46.4 million), due to the uncertainty in the realization of these assets, other expenses together showed no significant variation.
Transmission:
The general and administrative expenses decreased by 71.7 % (R$ 516.6 million), going from R$ 720.4 million in 2Q13 to R$ 203.8 million in
3Q13, mainly due to variation in personnel expenses [-87.2% (R$ 546.6 million)] due to the registration of the Early Retirement Plan- PIDV; the
variation on Materials expenses [-27.8% (R$ 0.5 million)], to the third-party services expenses [-12.4% (R$2.0 million)] due to the restructuring
of the Company's expenses, the provisions for contingencies expenses [-49.3% (R$ 10.6 million)], mainly due to a smaller number of new
lawsuits in the current period compared to the previous period, and provisions for losses on investments in transmission [109.3% (R$ 32.9
million)].
Financial results
Generation:
Financial revenues increased by 44.7%, from R$ 52.1 million in 2Q13 to R$ 75.4 million in 3Q13, mainly due to the reversal of the VNR update in
2Q13.
The Financial expenses increased 24.3%, from R$ 3.7 million in 2Q13 to R$ 4.6 million in 3Q13, due to the recording of charges on debt.
Transmission:
The Financial income came from an expense of R$ 38.9 million in 2Q13 to an income of R$ 45.9 million in 3Q13 mainly due to the reversal of the
VNR update in 2Q13.
The Financial expenses increased 23.8%, from R$ 8.0 million in 2Q13 to R$ 9.9 million in 3Q13, due to the increased of charges on debt.
76
Marketletter
Market Data
1.Generation Assets and Energy generated
1.1.Own assets
Installed
Capacity
MW
Unit
Funil
Pedra
Araras
Curemas
Paulo Afonso Complex, Piloto and Apolônio
Sales (Moxotó)
Sobradinho
Luiz Gonzaga (Itaparica)
Boa Esperança (Castelo Branco)
Xingó
Camaçari
Guaranteed
energy
MW Average
Energy generated MWh
1Q13
2Q13
3Q13
30.00
20.00
4.00
3.52
13.95
3.74
1.00
6,305.16
404.05
0.00
699.91
5,205.3
1,445.7
888.8
10,223.53
928.85
415.04
4,281.60
2,225.00
3,203,282.22
2,659,188.2
2,884,864.02
1,050.30
1,479.60
237.00
3,162.00
346.80
531.00
959.00
143.00
2,139.00
229.80
677,611.71
1,406,311.17
225,940.28
3,550,359.04
538,380.05
649,725.9
1,154,281.4
244,627.5
2,950,122.3
529,153.5
660,484.9
1,235,259.6
243,819.48
3,179,160.78
27,510.59
Unit
Location
(State)
Beginning of
Operation
End of
concession
BA
BA
CE
PB
BA
BA
PE
PI
SE
BA
Mar/62
Apr/78
Feb/67
Jun/57
Jan/55
Apr/79
Feb/88
Jan/70
Apr/94
Feb/79
Dec/42
Dec/42
Jul/15
Nov/24
Dec/42
Feb/22
Dec/42
Dec/42
Dec/42
Aug/27
Funil
Pedra
Araras
Curemas
Paulo Afonso Complex, Piloto and Apolônio Sales (Moxotó)
Sobradinho
Luiz Gonzaga (Itaparica)
Boa Esperança (Castelo Branco)
Xingó
Camaçari
(*)The assets were compensated when concessions were renewed.
1.2.SPEs
SPE
Energetica
Águas da Pedra
S.A.
Pedra Branca
S.A.
São Pedro do
Lago S.A.
Sete Gameleiras
S.A.
Unit
Dardanelos
Pedra Branca
São Pedro do Lago
Sete Gameleiras
Unit
HEU
Dardanelos
Pedra
Branca
São Pedro
do Lago
Sete
Gameleiras
Installed
Capacity
MW
Guaranteed
energy
MW Average
261.0
Energy generated MWh
1Q13
2Q13
3Q13
154.9
457,808.1
502,925.36
98,980.70
30.0
12.2
4,121.0
28,505.8
41,718.89
30.0
13.2
2,688.3
23,495.9
36,493.39
30.0
12.5
953.3
25,160.2
37,959.17
Participacion
%
Local (State)
Beginning of
operation
End of operation
24.5
49.0
49.0
49.0
MT
BA
BA
BA
Aug/11
Jan/13
Jan/13
Jan/13
Jul/42
Feb/46
Feb/46
Feb/46
77
Marketletter
2.Electric energy purchased for resale
2.1. Own assets
Supplier
Eletrobras Sistem
Others
Unit
1Q13
2Q13
3Q13
MWh
R$ million
MWh
R$ million
1,080,500.0
132.3
-
1,092,000.0
133.8
-
1,290,000.0
165.1
-
Unit
1Q13
2Q13
3Q13
-
-
2.2.SPE
Pedra Branca S.A.
Supplier
MWh
R$ million
MWh
R$ million
Eletrobras Sistem
Others
20,541.6
3.9
São Pedro do Lago S.A.
Supplier
Unit
1Q13
MWh
R$ million
MWh
R$ million
Eletrobras Sistem
Others
23,616.3
4.6
2Q13
3Q13
-
-
Sete Gameleiras S.A.
Supplier
Unit
1Q13
MWh
R$ million
MWh
R$ million
Eletrobras Sistem
Others
25,244.7
5.1
2Q13
3Q13
-
-
3.Energy sold
3.1.Own assets
Buyer
Sale model
Eletrobras
System
A
B
A
B
A
B
Others
Total
1Q13
R$ million
MWh
14.8
566,537
597.5
612.3
2Q13
R$ million
MWh
16.3
584,137
13,639,754
612.2
14,206,291
628.5
3Q13
R$ million
MWh
16.4
587,556
13,777,912
604.8
13,828,142
14,362,049
621.2
14,415,698
A - Through auction
B - Through free market agreements or bilateral contracts
78
Marketletter
3.2.SPE
Energética Águas da Pedra S.A.
Buyer
Sale model
Eletrobras
System
A
B
A
B
A
B
Others
Total
1Q13
R$ million
MWh
2Q13
R$ million
MWh
3Q13
R$ million
MWh
50.3
332,767
47.8
310,591
49.2
311,165
50.3
332,767
47.8
310,591
49.2
311,165
Pedra Branca S.A.
Buyer
Sale model
Eletrobras
System
A
B
A
B
A
B
Others
Total
1Q13
R$ million
MWh
2.1
1.6
3.7
2Q13
R$ million
15,078
11,639
26,717
2.3
1.8
4.1
-
3Q13
MWh
R$ million
15,078
11,639
26,717
-
MWh
2.3
1.8
4.1
-
15.078
11.639
26.717
-
São Pedro do Lago S.A.
Buyer
Sale model
Eletrobras
System
A
B
A
B
A
B
Others
Total
1Q13
R$ million
MWh
2.2
1.7
3.9
-
2Q13
R$ million
16,314
12,593
28,907
-
2.5
1.9
4.4
-
3Q13
MWh
R$ million
16,314
12,593
28,907
-
MWh
2.5
1.9
4.4
-
16,314
12,593
28,907
-
Sete Gameleiras S.A.
Buyer
Eletrobras
System
Others
Total
Sale
model
1Q13
R$ million
MWh
A
B
A
B
A
B
2.1
1.6
3.7
-
2Q13
R$ million
15,448
11,926
27,374
-
2.3
1.9
4.2
-
3Q13
MWh
R$ million
15,448
11,926
27,374
-
2.3
1.9
4.2
-
MWh
15,448
11,926
27,374
-
4.Settlement CCEE (Spot e MRE)
Unit
Sale
Purchase
Net
R$ million
MWh
MWaverage
R$ million
MWh
MWaverage
R$ million
MWh
MWaverage
1Q13
382.95
259,814.36
120.23
382.95
259,814.36
120.23
2Q13
317.9
217,684,56
99.67
317.9
217,684.56
99.67
3Q13
(36.0)
19.1
50,727.11
22.97
(55.1)
50,727.11
22.97
(*)The negative value of CCEE sales in 3T13 refers to adjustments due to default.
79
Marketletter
5.Fuel used to produce electricity
Type
Unit
Diesel Oil
Gas
Litre
m3
1Q13
Amount
R$ Million
58,780,000
131,682,538
Total:
116.0
248.1
364.1
Amount
2Q13
R$ Million
7,066,000
167,331,197
21.0
319.5
340.5
3Q13
Amount
R$ Million
.
17,5
17.5
6.Losses in generation - %
1Q13
2Q13
3Q13
2.62
2.77
2.69
7.Average price – R$/MWh
7.1.Own assets
1Q13
2Q13
3Q13
43.10
43.75
43.08
7.2.SPE
Energética Águas da Pedra S.A.
Pedra Branca S.A.
São Pedro do Lago S.A.
Sete Gameleiras S.A.
1Q13
2Q13
3Q13
151.30
136.78
136.78
136.78
154.02
151.98
151.98
151.98
158.26
151.98
151.98
151.98
80
Marketletter
8.Extension of transmission lines - Km
8.1.Own assets
8.1.1.Transmission lines
From-To
Angelim II-Recife II, C1
Angelim II-Recife II, C2
Jardim-Camaçari IV, C1
Camaçari II-Camaçari IV, C1
Gonzaga-Angelim II, C1
Gonzaga-Milagres, C1
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-Teresina II, C1
Pres.Dutra-Teresina II, C2
Quixada-FortalezaII, C1
Sobral III-FortalezaII, 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
Planta IV-P.Afonso IV, C1
Planta IV-P.Afonso IV, C2
Planta IV-P.Afonso IV, C3
Planta IV-P.Afonso IV, C4
Planta IV-P.Afonso IV, C5
Planta IV-P.Afonso IV, C6
Planta Xingo – Xingo, C1
Planta Xingo – Xingo, C2
Planta Xingo – Xingo, C3
Planta.Xingo.- Xingo, C4
Planta Xingo – Xingo, C5
Planta 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
Banabuiu-Fortaleza, C3
Extension
(km)
169.1
170.7
249.6
0.3
248.4
230.8
248.6
290.6
109.7
111.4
268.0
147.2
146.9
221.5
212.8
37.4
53.8
207.9
207.7
136.5
210.8
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
0.9
0.9
0.9
0.9
0.8
0.8
159.8
219.0
5,163.8
78.9
78.5
79.1
115.7
171.7
171.7
63.9
64.1
65.7
122.3
90.4
198.0
198.0
6.0
233.5
177.2
176.0
176.0
Tension
(kV)
Beginning of
Operation
End of Concession
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
500
500
500
500
500
500
500
Aug/77
Mar/80
May/00
Nov/12
Feb/77
Apr/87
May/76
Oct/79
Dec/98
Dec/98
Jan/88
Oct/76
Sep/78
Jul/79
Jun/78
Oct/79
Feb/93
May/00
Apr/03
Aug/96
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
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
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
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
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
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
81
Marketletter
From-To
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
Campina Grande II-Natal III, C1
Natal III-Natal II, C1
Campina Grande II-Natal III, C2
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
Depto.Manut. Lt-João A. Liberato
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
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
Ibicoara-Brumado, C1
Icó-Banabuiú, C1
Itapebi-Eunápolis, C1
Itapebi-Eunápolis, C2
Irecê-Brotas de Macaúba, C1
Brotas de Macaúba-B. J da 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
Extension
(km)
Tension
(kV)
Beginning of
Operation
End of Concession
177.2
110.4
83.7
84.1
83.9
177.4
200.7
201.3
2.5
99.3
176.5
11.6
176.5
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
0.2
198.1
198.1
60.8
7.1
7.1
0.3
0.3
0.3
58.0
58.0
27.5
27.5
45.3
28.1
50.6
23.5
22.5
22.6
94.5
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
87.2
80.4
148.6
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
Jul/03
May/71
Sep/61
Dec/74
Sep/79
Nov/73
Mar/68
Apr/72
Nov/10
Feb/70
Oct/99
Oct/99
Oct/02
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
Dec/10
Jul/90
Jul/90
Nov/73
Jun/89
Jun/89
Feb/00
Feb/00
May/10
Nov/03
Nov/03
May/05
Feb/09
Oct/77
Oct/77
Oct/77
Dec/68
Feb/84
Feb/84
Mar/12
Dec/77
Jul/90
Jul/90
Sep/81
Sep/81
Aug/53
Aug/79
Aug/79
May/83
Jul/77
Mar/77
Aug/81
May/11
Jan/80
Jan/80
Apr/81
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Jun/37
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
82
Marketletter
From-To
Libra-Libra, C1
Milagres-Banabuiu, C1
Milagres-Ico, C1
Milagres-Banabuiu, C3
Milagres-Coremas, C1
Milagres-Coremas, C2
Milagres-Tauá, 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
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 Nombre, C1
Paulo Afonso-Bom Nombre, C2
Paulo Afonso-Bom Nombre, C3
Paulo Afonso-C. Dantas, C1
Paulo Afonso-C. Dantas, C2
Paulo Afonso-Itabaiana, C2
Paulo Afonso-Itabaiana, C3
Paulo Afonso III- Zebu II, C1
Paulo Afonso III- Zebu II, C2
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
Paraiso-Açu II, C2
Picos-Tauá II, C1
Pirapama II-Suape II, C1
Pirapama II-Suape 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
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-Trikem, C1
Russas II-Mossoró II, C1
Sobral II-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
Extension
(km)
Tension
(kV)
Beginning of
Operation
End of Concession
1.5
225.9
103.5
225.1
119.4
119.8
208.1
23.1
50.1
25.9
25.9
11.9
11.6
11.6
71.3
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
5.4
5.4
1.1
1.4
123.9
125.9
96.2
97.2
132.8
183.2
11.3
11.3
167.4
3.6
3.6
2.0
7.4
7.4
7.4
6.3
6.4
6.4
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
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
Dec/91
Feb/65
Dec/77
Dec/77
Nov/86
Jun/10
Jan/09
Oct/99
Dec/89
Nov/96
Nov/96
Aug/86
Oct/76
Jul/77
Jul/87
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
Jul/12
Aug/12
Oct/79
Feb/81
Nov/10
Oct/99
May/79
Apr/79
Jan/11
Feb/13
Dec/12
Dec/12
Aug/73
Nov/83
Jun/83
May/77
Jan/53
Jan/67
Jan/61
Feb/09
Feb/09
Feb/09
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/42
Dec/42
Dec/42
Dec/42
Dec/42
Feb/35
Feb/35
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Aug/39
Aug/39
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Jun/37
Jun/37
Jun/37
Jun/37
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
83
Marketletter
From-To
Sapeaçu-Funil, C1
Sapeaçu- S.Ant.Jesus, C1
Sapeaçu- S.Ant.Jesus, C2
S.Ant.Jesus-Funil, C1
S.Ant.Jesus-Funil, C2
Suape III-Suape II, C1
Suape III-Suape II, C2
Tacaimbo-C.Grande II, C1
Tacaimbo-C.Grande II, C2
Teresina I-Teresina II, C1
Teresina I-Teresina II, C2
Teresina-Piripiri, C1
Planta Apol.Sales- P.Afonso, C1
Planta Apol.Sales- P.Afonso, C2
Us. B.Esperança-B.Esperança, C1
Sobradinho-Juazeiro II, C1
Sobradinho-Juazeiro II, C2
Planta II-Paulo Afonso, C1
Planta II-Paulo Afonso, C3
Planta II-Paulo Afonso, C4
Planta II-Paulo Afonso, C5
Planta III-Paulo Afonso, C1
Planta III-Paulo Afonso, C2
Planta III-Paulo Afonso, C3
Planta III-Paulo Afonso, C4
Planta I-Paulo Afonso, C1
Planta I-Paulo Afonso, C2
Sub-Total - 230 Kv
C.Grande II-S.Cruz II, C1
C.Grande II-Pilões, C1
Pilões-S.Cruz II, C1
C. Novos-Santana do Matos, C1
Santana do Matos-Açu, C1
Santa Cruz II-C.Novos II, C1
Planta II-Zebu, C1
Sub-Total - 138 Kv
Abaixadora-Mulungu, C1
Abaixadora-Moxoto, C1
Abaixadora-Zebu, C1
Bela Vista-Alto Branco, C1
C.Grande I-Alto Branco, C1
C.Grande II-Bela Vista, C1
C.Grande II-C.Grande I, 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
Planta de Pedra-Jequié, C1
Vila Zebu-Itaparica, C1
Zebu-Moxoto, C1
Zebu-Xingo, C1
Sub-total 69 kV
Total
Extension
(km)
195.7
31.8
32.0
162.1
162.6
4.1
4.1
124.7
124.7
25.3
25.3
154.7
5.8
5.7
2.8
42.5
42.5
0.6
0.6
0.7
0.7
0.6
0.6
0.6
0.6
0.6
0.6
13,292.2
117.3
79.3
108.4
38.8
49.6
55.0
6.0
454.4
6.5
5.3
5.4
6.2
3.1
7.2
9.4
1.4
48.7
48.7
3.1
0.5
7.5
7.4
21.0
22.1
21.9
20.5
27.0
7.2
56.5
336.6
19,247.0
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
Dec/68
Feb/84
Feb/84
Feb/84
Feb/84
Dec/12
Dec/12
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
Jan/39
Jan/39
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
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
Apr/63
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
69
69
69
69
69
69
69
69
69
69
69
69
69
69
69
69
69
69
69
69
69
May/75
Feb/70
Oct/72
Nov/10
Nov/10
Oct/89
May/64
Jun/60
Jun/60
Jun/60
Jan/65
Apr/73
Jun/60
Jun/60
Jan/65
Jun/60
Jun/60
Nov/78
Jul/77
Apr/83
Aug/81
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
84
Marketletter
8.1.2.Substations
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
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 de Curemas
Elev. Usina B. Esperança
Elev. Usina de Sobradinho
Elev. Usina de Funil
Elev. Usina de Pedra
Elev. Usina Term. Camaçari
Pau Ferro
Paraiso
Tauá II
Ibicoara
Pilões II
Bom Nome
Santa Rita II
Irecê
Suape III
Coteminas
Milagres
Mirueira
Moxotó
Mulungú
Sobradinho
Sobral II
Tacaimbó
Cícero Dantas
Açu II
Angelim
Angelim II
Bela Vista
Bongi
Campina Grande I
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
Transformation
capacity
560
1,665
225
550
960
3,000
3
3,515
5
5
280
1,333
48
27
400
301
100
102
510
388
300
329
200
1,253
401
20
10
700
300
301
151
433
310
0
25
490
35
707
0
0
967
367
300
174
18
320
401
201
200
401
302
201
300
242
402
95
121
92
65
300
667
451
Location
Beginning of
Operation
End of operation
AL
PE
BA
BA
BA
BA
BA
SE
CE
PB
PI
BA
BA
BA
BA
PE
RN
CE
BA
PB
PE
PB
BA
PE
PB
CE
PE
BA
BA
BA
CE
PE
BA
RN
PE
PE
PB
PE
PB
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
Feb/77
May/88
Jan/55
Jan/62
Jan/71
Nov/79
Jan/53
Nov/94
Feb/60
Jan/68
Mar/70
Oct/79
Jan/59
Nov/78
Sep/78
Aug/02
Feb/04
Dec/07
Jan/11
Oct/12
Oct/63
Jul/12
Sep/81
Jul/12
Dec/09
Jan/64
Aug/78
Jan/72
May/75
Oct/79
Nov/73
Jun/85
May/56
Nov/89
Jan/56
Jan/80
Apr/93
May/56
Jun/74
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
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Nov/24
Dec/42
Dec/42
Dec/42
Dec/42
Aug/27
Dec/42
Dec/42
Mar/35
Jun/37
Dec/42
Dec/42
Aug/39
Dec/42
Jan/39
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
85
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
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
Natal III
Olindina
Zebu II
Brotas de Macaubas
Luiz Gonzaga 500kv
Brumado
Camaçari IV
Sapeaçu
Suape II
Arapiraca III
Transformation
capacity
302
420
561
73
400
217
101
115
400
0
1,400
3,010
498
38
143
242
100
0
301
300
201
1,401
3,205
362
302
633
2,000
300
900
401
400
233
10
1,601
1,400
22
300
120
200
2,800
800
100
Location
Beginning of
Operation
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
RN
BA
AL
BA
PE
BA
BA
BA
PE
AL
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
Aug/12
Apr/80
Jul/12
Jul/12
May/88
Aug/10
Nov/12
May/03
Dec/12
Jun/13
End of operation
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Aug/39
Dec/42
Aug/39
Dec/42
Dec/42
Jul/40
Jan/39
86
Marketletter
8.2.SPE
Participation %
Extension
(km)
Tension
(kV)
Beginning of
Operation
End of Concession
49
546
500 kV
Ene/06
Feb/34
12
695
500 kV
May/08
Abr/36
Oriximiná/Silves
Silves/Lechuga(AM)
19.5
559
500 kV
Mar/13
Oct/38
TL Coletora Porto
Velho/ Araraquara
II, CS
24.5
2,375
600 kV
Ago/13
Feb/39
SPE
From - To
Sistema de
Transmissão do
Nordeste S.A.
Integração
Transmissora de
Energia S.A.
Manaus
Transmissora de
Energia S.A.
Teresina II/PI to
Sobral/CE and
Fortaleza/CE
Colinas/TO
to Serra da Mesa
II/GO
Interligação Elétrica
do Madeira S.A.
9. Transmission losses %
1Q13
2Q13
3Q13
2.5
3.4
2,9
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
1Q13
2Q13
103.63
17.39
0.02
62.59
-
90.86
22.74
0.02
46.90
-
79.58
14.75
0.01
38.49
-
661.26
173.92
0.12
339.21
1.00
1.00
-
-
1.00
21.20
170.06
94.35
40.85
33.79
1.07
14.45
275.37
26.33
247.54
101.75
83.93
61.30
0.56
15.31
342.43
2.78
142.23
1,194.08
658.85
351.16
171.59
12.48
130.74
1,986.08
23.63
136.08
81.89
25.20
25.97
3.02
35.86
275.57
3Q13
2013 budget
11.New investments
11.1.Generation
11.1.1.Own assets
Unit -Own
assets
Location
(State)
Total
Investment
R$ million
Investment
up to 3Q13
R$ million
Installed
capacity MW
Guaranteed
energy
Casa Nova
Wind Power
Plant
BA
692.5
466.9
180 MW
61.4
Beginning
Beginning of
End of
of
Construction concession
Operation
Aug/13
May/12
Jan/46
87
Marketletter
11.1.2.SPE
SPE
Unit
Participation
%
Location
(State)
Total
Investment
R$ million
ESBR
Participações
S.A.
HEU
Jirau
20.0
RO
16,128.9
3,750.0
15,795.5
2,184.6
09-13*
Dec-09
Aug-43
15.0
PA
29,375.0
11,233.1
10,597.04
4,571.0
Feb-15
Jun-11
Aug-45
49.0
CE
134.02
30.0
3.6
13.5
Jan-16
Feb-15
Jun-47
49.0
CE
93.343
21.0
0.4
9.3
Jan-16
Feb-15
Jul-47
49.0
CE
120.78
30.0
0.4
12.1
Jan-16
Feb-15
Jul-47
49.0
CE
120.78
30.0
0.4
11.4
Jan-16
Feb-15
Jul-47
Norte
Energia S.A.
Caiçara I
S.A.
Caiçara II
S.A.
Junco I S.A.
Junco II S.A.
HEU
Belo
Monte
EOL
Caiçara
I
EOL
Caiçara
II
EOL
Junco I
EOL
Junco
II
Installed Invest. Up Guaranteed Beginning
Beginning of
End of
capacity to 3Q13 R$ energy MW
of
Construction concession
MW
million
averages
Operation
* The plant is in testing phase
11.2.Transmission
11.2.1.Own assets
11.2.1.1.Transmission lines
Own lines
From - To
TL
TL
TL
TL
TL
TL
TL
TL
TL
TL
TL
TL
TL
TL
TL
TL
TL
TL
TL
TL
TL
TL
TL
TL
TL
TL
230
230
230
230
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
kV
kV
kV
kV
Eunápolis/Teixeira Freitas II C1
Funil/Itapebi C3
Jardim/Penedo C1
Eunápolis/Teixeira Freitas II C2
Pau Ferro – Santa Rita II
Secc. R.Largo II/Penedo/SE-Arapiraca/AL
Paraiso/Açu II, C3
Açu/Mossoró II, C2
João Câmara/Extremoz II
Igaporã/B. Jesus da Lapa II
Sobral III/Acaraú II
Morro do Chapéu/Irece
Paraiso/Lagoa Nova
Teresina II/Teresina III
Recife II/Suape II, C2
Camaçari IV/Sapeaçu
Sapeaçu/Sto.Antonio de Jesus
Jardim/ N Sra do Socorro
Messias/ Maceió
Camaçari/Pirajá
Pituaçú/Pirajá
Mossoró II/ Mossoró IV
Ceará Mirim II/Touros
Russas/ Banabuiu
Igaporã II – Igaporã III C1 and C2
Igaporã III – Pindaí II
Total Investment
(R$ Million)
65.29
43.74
27.48
41.98
141.78
18.6
162.20
67.60
52.57
44.57
80.89
42.97
59.48
81.02
13.60
47.07
81.74
77.50
Extension
of TL
(km)
Tension
(kV)
Beginning
of
Operation
End of
Concession
145
223
110
152
97
44
123
69
82
115
97
65
65
26
44
105
31
1
20
45
5
40
56
110
4
46
230
230
230
230
230
230
230
230
230
230
230
230
230
230
500
500
230
230
230
230
230
230
230
230
230
230
Jun/14
Jan/15
May/13
Jun/14
Apr/14
May/13
Dec/13
Dec/13
Dec/13
Dec/13
Dec/13
Aug/14
Apr/14
Mar/14
Apr/14
May/14
May/14
Jan/14
Mar/14
Mar/14
Mar/14
Apr/14
Apr/14
Apr/14
Apr/14
Apr/14
Oct/38
Apr/37
Mar/38
Aug/39
Aug/39
Oct/40
Nov/40
Nov/40
Nov/40
Nov/40
Nov/40
Oct/41
Oct/41
Dec/41
Dec/41
Dec/41
Dec/41
May/42
May/42
Nov/42
Nov/42
Jun/42
Jun/42
Jun/42
Jun/42
Jun/42
88
Marketletter
11.2.1.2.Substations
Substation
SE
SE
SE
SE
SE
SE
SE
SE
SE
SE
SE
SE
SE
SE
SE
SE
SE
SE
SE
230/69 kV Polo
230/69 kV João Câmara
230/69 kV Extremoz II
230/69 kV Igaporã
230/69 kV Acaraú II
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
230/69 kV Pirajá
230/69 kV Mirueira II
230/69 kV Jaboatão II
230 kV Touros
230 kV Mossoró
500/230 kV Igaporã III
230 kV Pindaí II
Total
Investment
R$ million
Transformation
capacity
Location
15.34
100 MVA
BA
*
360 MVA
RN
*
*
*
300 MVA
200 MVA
150 MVA
*
500 MVA
*
400
300
400
200
360
300
300
150
100
BA
CE
BA
RN
CE
PI
SE
AL
BA
BA
94.43
30.57
68.77
46.18
99.44
MVA
MVA
MVA
MVA
MVA
MVA
MVA
MVA
MVA
2050 MVA
PE
Beginning of
Operation
End of
concession
feb/14
mar/14
mar/14
jan/14
mar/14
aug/14
apr/14
sep/14
jul/14
mar/14
mar/14
feb/14
jun/14
may/14
sep/14
oct/40
nov/40
nov/40
nov/40
oct/41
oct/41
dec/41
may/42
nov/42
may/42
RN
jun/14
dec/42
BA
jun/14
jun/42
* Substation associated Transmission Line
89
Marketletter
11.2.2.SPEs
11.2.2.1.Transmission lines
Participation
%
SPE
From - To
Interligação
Elétrica Madeira
S.A. (IE Madeira)
Lot D:
Porto Velho –
Araraquara 2*
Lot F:
Conversora
Porto Velho Bipolo 2
24.5
TDG Transmissora
Delmiro Gouveia
S.A.
TL São Luiz II/
São Luiz III
49
Extremoz
Transmissora do
Nordeste –ETN
S.A.
Interligação
Elétrica
Garanhuns S.A.
Total
Investment
R$ million
Invest.
Up to
3Q13 R$
million
Extension
Beginning
End of
of lines
Tension
of
concession
KM
Operation
08/2013
TL Ceará Mirim
II/João Câmara
III, 500 kV.
TL Ceará Mirim
II/ Campina III,
500 kV.
TL Ceará Mirim
II/ Extremoz II,
230 kV.
Seccionamento
TL João Câmara
II Extremoz II,
na SE Ceará
Mirim II
TL Campina
Grande
III/Campina
Grande II, 230
kV.
Seccionamento
Campina Grande
II/Extremoz II
C1/C2
TL Luiz Gonzaga/
Garanhuns, 500
kV
TL Garanhuns/
Campina Grande
III, 500 kv
TL Garanhuns/
Pau Ferro, 500
kV
TL Garanhuns/
Angelim I, 230
kV.
49
49
3,500.9
(Basis:
dec/2011)
3,136.4
367.9
271.2
365.9
503.14
2.375
600
02/2039
01/2014
14.2
156
230
64
500
201
500
26
230
6
230
8,5
230
12,5
230
224
500
190
500
239
500
13
230
178.63
09/14
07/40
01/15
10/41
06/14
12/41
* The TL Porto Velho-Araraquara, was declared in commercial operation in 8/1/2013, with early receipt of RAP. However, the final tests have not yet been implemented due to impossibility of Santo
Antônio HPP provide 12 UG's concomitant form operand. The final tests are planned to occur even in November 2013. The Converter (Porto Velho and Araraquara) are in deployment.
11.2.2.2.Substations
TDG – Transmissora Delmiro Gouveia S.A.
SPE
Total
Investment
R$ million
SE – Pecém II, 500/230
kV.
SE – Aquiraz, 230/69
kV.
*
Transformation
capacity
Investment
up to 3Q13
R$ million
Location
*
CE
3,600 MVA
450 MVA
Beginning
of
Operation
End of
concession
Jun-13
Jul-40
May-13
* Substation associated Transmission Line
90
Marketletter
Extremoz Transmissora do Nordeste - ETN S.A.
SPE
Total
Investment
R$ million
SE – João Câmara III,
500/138 kV.
SE – Campina Grande
III, 500/230 kV.
SE – Ceará Mirim II,
500/230 kV.
Investiment up to
Transformation
3Q13 R$ million
capacity
*
Beginning
of
Operation
End of
concession
01/15
Oct-41
Location
Beginning
of
Operation
End of
concession
PE
Jun-14
Dec-41
Transformation
capacity
Location
Beginning
of
Operation
End of
concession
3,150 MW
RO
07/14
Feb-39
2,950 MW
SP
71.8
Location
500/138 kV
RN
500/230 kV
PB
500/230 kV
RN
* Substation associated to Transmission Line
Interligação Elétrica Garanhuns S.A.
SPE
Total
Investment
R$ million
Investiment up
to 3Q13 R$
million
Transformation
capacity
124.69
30.46
500/230 kV
94.12
22.43
500/230 kV
SE – Garanhuns,
500/230 kV.
SE – Pau Ferro,
500/230 kV.
Interligação Elétrica do Madeira S.A.
SPE
Total
Investment
R$ million
Investiment up
to 3Q13 R$
million
*
*
Rectifier station
CA/CC from 500 kV to
+/- 600 kV,
Inverting station
CC/CA from +/- 600
kV up to 500 kV.
*associated Transmission Line
12. Loans and financing – R$ million
Local currency – LC
Creditor
Eletrobras
Eletrobras
Eletrobras
Eletrobras
Eletrobras
Eletrobras
Financing institutions
Banco do Nordeste –
Maq/Equip/Benf
Banco do Nordeste – Finame
(PSI-BK)
Total
Balance
03.31.13
Balance
06.30.13
86.2
0.3
0.2
6.3
0.4
7.0
72.6
0.3
0.2
5.9
0.4
6.4
318.9
308.0
15.7
15.2
435.0
409.0
Balance
09.30.13
Due Date
Index
47.6
0.3
0.2
5.5
0.4
6.0
Sep/18
May/15
May/16
Feb/17
Apr/16
Dec/18
5% p.y.
5% p.y.
5% p.y.
5% p.y.
5% p.y.
IPCA
291.8
Jun/20
7.5% p.y.
14.6
Jun/20
4.5% p.y.
366.4
Foreign currency – ME - NA
91
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
2013
2014
2015
2016
2017
17.0
1.3
15.7
60.9
3.5
57.4
60.7
3.4
57.3
60.7
3.3
57.4
58.2
0.9
57.3
After 2017
108.9
0.0
108.9
Total (LC+ FC)
366.4
12.4
354.0
17.0
5.0
12.0
60.8
17.8
43.0
60.7
17.8
42.9
60.7
17.8
42.9
58.2
17.1
41.1
109.0
16.0
93.0
366.4
91.5
274.9
13.1.2.SPE
Loans and financing
2013
By activity
Generation
Transmission
Energy tradings
By creditor
Banco do Nordeste do Brasil
Banco do Brasil
BNDES
Banco Itaú BBA
BASA
CEF
Bradesco
FNO
Notes
Others
2014
266.9
135.4
131.5
0.0
266.8
2.6
2.9
158.5
1.9
1.0
2.8
2.0
0.0
95.0
0.0
142.7
95.2
47.5
0.0
142.7
10.9
13.7
83.8
9.1
2.1
13.4
9.7
0.0
0.0
0.0
2015
152.3
101.0
51.3
0.0
152.2
11.4
14.6
88.1
9.6
4.1
14.3
10.3
0.0
0.0
0.0
2016
2017
165.1
101.0
64.1
0.0
165.1
11.9
14.6
88.1
9.6
7.2
14.3
10.3
1.8
0.0
7.5
After 2017
196.7
126.4
70.3
0.0
196.7
12.4
14.6
104.0
9.6
7.8
21.8
10.3
4.3
0.0
12.1
Total (LC + FC)
3,488.0
2,870.1
617.9
0.0
3,488.0
96.4
225.9
1,913.1
152.1
67.7
622.3
162.2
62.4
0.0
186.0
4,411.7
3,429.1
982.6
0.0
4,411.6
145.5
286.3
2,435.6
191.9
89.8
688.9
204.7
68.5
95.0
205.6
13.2.Energy purchase
13.2.1.Parent company
Energy Sales contracts
Eletrobras System
Others
Unit
2013
2014
2015
2016
2017
MWh
R$ million
MWh
R$ million
4,380,000
536.6
186,000
29.8
1,272,570
445.8
2,022,419
381.4
1,358,811
312.1
1,355,098
295.8
2013
2014
2015
2016
2017
After 2017
21,320,383
3,542.7
13.2.2 SPE
ESBR Participações S.A.
Energy Sales contracts
Eletrobras System
Others
Unit
MWh
R$ million
MWh
R$ million
-
-
-
-
-
After 2017
-
92
Marketletter
13.3.Energy purchase
13.3.1.Parent Company
Energy Sales contracts
Regulated Market
Bilateral Contracts
Total
Unit
MWh
R$ million
MWh
R$ million
MWh
R$
million
2013
2014
2015
2016
2017
After 2017
173,733
17.4
10,476,279
1,082.6
10,650,012
192,289
20.0
8,163,395
866.9
8,355,684
197,100
20.5
4,790,451
553.5
4,987,551
197,100
20.5
1,086,240
202.5
1,283,340
197,100
20.5
1,086,240
202.0
1,283,340
985,500
102.3
0
0.0
985,500
2,447.0
2,233.8
1,920.9
1,570.0
1,569.4
40,510.8
13.3.2.SPE
ESBR Participações S.A.
Energy Sales contracts
Regulated Market
Bilateral Contracts
Total
Unit
MWh
R$ million
MWh
R$ million
MWh
R$ million
2013
2,105,372
198.6
2014
2,105,372
198.6
11,885,288
1,330.2
3,047,249
415.6
14,932,537
1,745.8
2013
2014
2015
2016
18,822,316
2,441.7
6,794,836
1,134.3
25,617,152
3,576.0
2017
18,863,653
2,531.5
4,917,645
949.3
23,781,298
3,480.8
18,863,653
2,691.9
4,917,645
1,038.5
23,781,298
3,730.4
After 2017
490,765,055
129,791.4
127,939,608
45,578.1
618,704,663
175,369.5
Norte Energia S.A.
Energy Sales contracts
Regulated Market
Bilateral Contracts
Total
Unit
MWh
R$ million
MWh
R$ million
MWh
R$ million
2015
2016
2017
604.133
60,34
86.305
11,12
690.438
71,46
10.085.137
1.054,81
1440.734
194,29
11.525.871
1.249,1
26.905.239
2.920,84
3.843.606
535,62
30.748.845
3.456,46
After 2017
778.352.622
172.236,18
112.172.340
31.207,25
890.524.962
203.443,43
Energética Águas da Pedra S.A.
Energy Sales contracts
Regulated Market
Bilateral Contracts
Total
Unit
MWh
R$ million
MWh
R$ million
MWh
R$ million
2013
2014
2015
2016
2017
After 2017
1,287,720
205.5
1,287,720
205.5
1,287,720
205.5
1,291,248
206.1
1,287,720
205.5
29,638,728
4,729.7
1,287,720
205.5
1,287,720
205.5
1,287,720
205.5
1,291,248
206.1
1,287,720
205.5
29,638,728
4,729.7
São Pedro do Lago S.A.
Energy Sales contracts
Regulated Market
Bilateral Contracts
Total
Unit
MWh
R$ million
MWh
R$ million
MWh
R$ million
2013
2014
2015
2016
2017
After 2017
115,632
17.160
115,632
17.574
115,632
17.574
115,632
17.574
115,632
17.574
1,734.480
263.61
115,632
17.160
115,632
17.574
115,632
17.574
115,632
17.574
115,632
17.574
1,734.480
263.61
93
Marketletter
Pedra Branca S.A.
Energy Sales contracts
Regulated Market
Bilateral Contracts
Total
Unit
MWh
R$ million
MWh
R$ million
MWh
R$ million
2013
2014
2015
2016
2017
After 2017
106,872
15.836
106,872
16.242
106,872
16.242
106,872
16.242
106,872
16.242
1,603.080
243.63
106,872
15.836
106,872
16.242
106,872
16.242
106,872
16.242
106,872
16.242
1,603.080
243.63
Sete Gameleiras S.A.
Energy Sales constracts
Regulated Market
Bilateral Contracts
Total
14.Number of employees
Unit
MWh
R$ million
MWh
R$ million
MWh
R$ million
2013
2014
2015
2016
2017
After 2017
109,500
16.250
109,500
16.642
109,500
16.642
109,500
16.642
109,500
16.642
1,642.500
249.63
109,500
16.250
109,500
16.642
109,500
16.642
109,500
16.642
109,500
16.642
1,642.500
249.63
(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
1Q13
2Q13
3Q13
136
183
54
183
346
902
136
181
54
182
346
899
136
181
54
151
326
848
1Q13
2Q13
3Q13
269
429
95
1
222
998
2,014
281
429
94
2
222
995
2,023
284
375
146
2
178
867
1,852
1Q13
2Q13
3Q13
370
405
23
2
691
1.169
2,660
368
403
12
13
692
1,171
2,659
366
378
30
14
612
990
2,390
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
94
Marketletter
14.2.By region
State
1Q13
Bahia
Pernambuco
Ceará
Piauí
2,052
2,795
376
353
Number of employees
2Q13
2,053
2,796
381
351
3Q13
1,858
2,569
355
308
14.3.By departments
Department
1Q13
Field
Administrative
3,461
2,115
Number of employees
2Q13
3,464
2,117
3Q13
3,196
1,894
14.Complementary work force - NA
15.Turn-over
1Q13
2Q13
3Q13
1.15
0.29
4.85
95
Marketletter
Balance Sheet
(R$ thousand)
Assets
Current Assets
Cash and banks
Marketable securities
Accounts receivable
Concession compensation
Concession financial assets
Taxes and social contribution
Compensation rights
Stored materials
Derivative financial instruments
Other credits
Non-Current Assets
Long-term Assets
Marketable securities
Accounts receivable
Concession compensation
Concession financial assets
Taxes and social contribution
Derivative financial instruments
Linked collateral and deposits
Advances for future capital increase
Derivative financial instruments
Other assets
Investments
Property, plant and equipment
Intangible
Total Assets
Parent Company
12.31.12
09.30.13
(reclassified)
09.30.13
Consolidated
12.31.12
(reclassified)
247,035
1,603,721
781,266
331,364
96,763
249,205
144,325
63,205
108,944
261,475
3,887,303
367,539
722,818
525,267
1,225,471
189,151
219,946
222,950
57,231
249,265
169,442
3,949,080
474,955
1,603,721
803,816
331,364
276,094
252,395
144,325
63,741
108,944
159,251
4,218,606
423,018
722,818
525,680
1,225,471
189,151
222,759
222,950
57,231
249,265
171,660
4,010,003
205
216,990
276,137
2,300,972
50,670
113,244
280,838
21,162
1,321,562
181
4,581,961
2,905,460
8,039,138
25,521
15,552,080
19,439,383
222
57,629
527,029
2,118,248
85,116
223,099
534,337
52,216
1,052,533
179
4,650,608
2,607,297
8,321,415
14,655
15,593,975
19,543,055
205
216,990
276,137
4,088,044
104,597
113,244
280,838
21,162
1,321,562
181
6,422,960
2,008,597
8,039,198
25,521
16,496,276
20,714,882
222
57,629
527,029
3,928,347
131,500
223,099
536,512
52,216
1,052,533
178
6,509,265
1,749,030
8,321,530
14,655
16,594,480
20,604,483
96
Marketletter
Liabilities and Stockholders’ Equity
Current Liabilities
Suppliers
Loans and financing
Debentures
Taxes and social contributions
Shareholders remuneration
Estimated obligations
Sector charges
Derivative financial instruments
Advance payment by customers
Other liabilities
Non-Current Liabilities
Loans and financing
Debentures
Tax and social contribution
Estimated obligations
Provisions for risks
Sector charges
Derivative financial instruments
Advance payment by customers
Advance for future capital increase
Post-retirement benefits
Other liabilities
Stockholders’ Equity
Social Capital
Capital Reserves
Income reserve
Other comprehensive income
Accumulated losses
Total
Parent Company
12.31.12
09.30.13
(reclassified)
Consolidated
12.31.12
09.30.13
(reclassified)
351,824
448,002
64,640
685
398,090
272,768
185,031
48,910
226,304
1,996,254
646,415
457,908
57,314
647
346,632
218,610
185,031
45,583
354,045
2,312,185
418,356
507,707
2,058
67,539
685
398,353
276,837
185,031
48,910
225,275
2,130,751
678,323
512,130
1,305
63,249
647
346,854
218,610
185,031
45,583
354,061
2,405,793
3,688,762
13,474
39,061
553,702
19,564
113,244
789,318
231,477
52,312
90,715
5,591,629
7,587,883
4,221,480
36,827
941,513
18,501
223,099
830,234
218,104
52,312
88,794
6,630,864
8,943,049
4,525,699
209,322
106,128
39,061
553,709
19,564
113,244
789,318
231,477
52,312
92,797
6,732,631
8,863,382
5,052,095
68,015
105,725
941,805
18,501
223,099
830,234
218,104
52,312
88,794
7,598,684
10,004,477
9,326,355
2,011,460
(49,837)
563,522
11,851,500
19,439,383
9,326,355
2,011,460
25,708
(49,837)
(713,680)
10,600,006
19,543,055
9,326,355
2,011,460
(49,837)
563,522
11,851,500
20,714,882
9,326,355
2,011,460
25,708
(49,837)
(713,680)
10,600,006
20,604,483
97
Marketletter
Statement of Income by activity
(R$ thousand)
09.30.13
Parent Company
Net operating revenue
Operational cost
Gross income
Operational expense
Provision for spending on active indemnified
Other operational expenses
Service result
Result on the Equity Method
Financing result
Result before Taxes
Taxes and social contribuiton
Net income (Loss) for the period
Other
Comercialization
Generation
Concessions
unextended
Extended
Concessions
Transmission
Concessions
Extended
unextended Concessions
Total
53,417
(3,861)
49,556
103,572
(78,235)
25,337
2,774,316
(1,150,646)
1,623,670
8,571
(6,715)
1,856
128,417
(316,602)
(188,185)
190,247
(169,914)
20,333
3,258,540
(1,725,973)
1,532,567
196
49,752
52,655
166
102,573
(5,469)
97,104
(21,060)
4,277
4,378
8,655
(470)
8,185
97,517
1,721,187
(320,332)
1,400,855
(1,126)
1,399,729
(1,150)
1,256
1,962
73
2,035
2,035
(31,426)
(219,611)
(49,625)
(269,236)
1,486
(267,750)
(23,104)
4,793
2,022
37,408
39,430
39,430
(24,254)
51,276
1,559,589
52,655
(327,932)
1,284,312
(5,579)
1,278,733
09.30.13
Parent Company
Net operating revenue
Operational cost
Gross income
Operational expense
Service result
Result on the Equity Method
Financing result
Result before Taxes
Taxes and social contribuiton
Net income (Loss) for the period
Generation
Other
51,912
31
51,943
(49)
51,894
(39,439)
13,110
25,565
(8,072)
17,493
Comercialization
93,195
(62,311)
30,884
(24,430)
6,454
33,043
39,497
(12,470)
27,027
Concessions
unextended
2,612,632
(1,193,998)
1,418,634
(980,379)
438,255
(11,733)
426,522
(197,869)
228,653
Transmission
Concessions
unextended
665,118
(449,993)
215,125
(189,714)
25,411
(79,705)
(54,294)
2,451
(51,843)
Total
3,422,857
(1,706,271)
1,716,586
(1,194,572)
522,014
(39,439)
(45,285)
437,290
(215,960)
221,330
98
Marketletter
09.30.13
Consolidated
Other
Net operating revenue
Operational cost
Gross income
Operational expense
Provision for spending on
active indemnified
Other operational expenses
Service result
Result on the Equity Method
Financing result
Result before Taxes
Taxes and social contribution
Net income (Loss) for the
period
Consolidated
Net operating revenue
Operational cost
Gross income
Operational expense
Service result
Result on the Equity Method
Financing result
Result before Taxes
Taxes and social contribution
Net income (Loss) for the period
Trading of energy
53,417
(3,861)
49,556
103,572
(78,235)
25,337
Generation
Concessions
unextended
Transmission
Concessions
Extended
unextended Concessions
Extended
Concessions
2,774,316
(1,150,646)
1,623,670
8,571
(6,715)
1,856
366,985
(451,192)
(84,207)
190,247
(169,914)
20,333
Eliminations
Total
(12,966)
10,505
(2,461)
3,484,142
(1,850,058)
1,634,084
-
-
-
(1,150)
-
(23,104)
-
(24,254)
196
49,752
52,655
166
102,573
(5,469)
(21,060)
4,277
4,378
8,655
(470)
97,517
1,721,187
(320,332)
1,400,855
(1,126)
1,256
1,962
73
2,035
-
(38,800)
(123,007)
(102,282)
(225,289)
(13,850)
4,793
2,022
37,408
39,430
-
2,461
(28,611)
(28,611)
-
46,363
1,656,193
24,044
(380,589)
1,299,648
(20,915)
97,104
8,185
1,399,729
2,035
(239,139)
39,430
(28,611)
1,278,733
Other
51,912
31
51,943
(49)
51,894
(39,439)
13,110
25,565
(8,072)
17,493
Generation
Concessions
Trading of Energy
unextended
93,195
(62,311)
30,884
(24,430)
6,454
33,043
39,497
(12,470)
27,027
2,612,632
(1,193,998)
1,418,634
(980,379)
438,255
(11,733)
426,522
(197,869)
228,653
09.30.12
Transmission
Concessions
unextended
1,000,588
(710,357)
290,231
(191,264)
98,967
(132,377)
(33,410)
(2,922)
(36,332)
Distribution
112,118
(176,642)
(64,524)
(64,524)
(27,618)
(92,142)
(92,142)
Eliminations
(75,298)
75,298
76,631
76,631
76,631
Total
3,795,147
(2,067,979)
1,727,168
(1,196,122)
531,046
37,192
(125,575)
442,663
(221,333)
221,330
99
Marketletter
Cash Flow
(R$ thousand)
Parent Company
09.30.12
09.30.13
Operating Activities
Income (Loss) before income tax
Adjustments in the conciliation of net income (loss) with cash generated
Depreciation and amortization
Accruals arrears
Monetary variation on assets
Monetary variation on liabilities
Financial charges
Equity method
Provision for credits of questionable liquidation
Operational provision
Property, plant and equipment and intangible sales
Derivatives
Financing assets - TIR
Other financing expenses (revenues)
Variation of operational asset
Marketable securities
Consumers
Other
Variation of operational liability
Suppliers
Taxes and social contributions to collect
Provision for contingencies
Consumers advance
Others
Operating activities
Loans and financing charges payable
Concession compensation - receivable
Remuneration from shareholders
Income and social contribition charges payable
Receipt of allowed annual revenue
Legal deposits
Net operating activities
Financing Activities
Loans and financing obtained
Issue of debentures
Loans and financing payable – principal
Proposed dividends
Advance for future capital increase
Net financing activities
Investment Activities
Financings and Loans receivables
Acquisition of permanent assets
Acquisition of financing assets
Acquisition of intangible assets
Advance for shareholding participation
Acquisition of permanent investment
Net investment activities
Increase in cash and cash equivalent
Cash and cash equivalent – beginning of period
Cash and cash equivalent – end of period
(reclassified)
Consolidated
09.30.12
09.30.13
(reclassified)
1,284,312
437,290
1,299,648
442,663
337,162
(29,636)
(105,080)
123,566
250,474
(52,655)
(670,884)
(55,104)
(4,910)
140,321
(2,889)
16,540
1,231,217
323,532
(60,942)
(31,171)
137,350
261,247
39,439
389,557
232,937
432
(185,895)
(240,104)
65,283
1,368,955
337,173
(29,636)
(105,080)
123,566
298,885
(24,044)
(670,884)
(53,954)
(4,910)
140,321
(116,102)
22,999
1,217,982
329,061
(82,590)
(31,171)
137,350
319,559
(37,192)
433,469
233,464
438
(185,895)
(321,857)
65,285
1,302,584
(880,886)
303,299
(233,656)
(811,243)
(50,109)
(353,740)
(14,181)
(418,030)
(880,886)
281,162
(134,005)
(733,729)
(50,109)
(393,800)
(30,007)
(473,916)
(294,591)
(11,914)
(195,432)
(37,589)
(164,290)
(703,816)
(283,842)
(257,563)
1,212,179
32,416
(9,692)
17,674
253,499
1,248,513
964,671
(108,337)
(179,488)
(4,723)
(35,454)
24,003
(303,999)
646,926
(229,697)
8,917
414,054
(32,124)
161,150
808,076
(259,967)
(6,530)
(195,717)
(37,589)
(167,275)
(667,078)
(182,825)
(286,327)
1,212,179
32,416
(9,692)
108,617
255,674
1,312,867
1,130,042
(30,116)
(161,738)
(4,723)
(35,454)
54,561
(177,470)
651,198
(244,929)
8,917
420,541
(32,889)
151,640
802,838
96,233
(741,337)
(645,104)
11,850
(252,379)
(67,853)
80,728
(227,654)
128,345
139,500
(778,299)
(510,454)
317,371
(361,234)
(67,853)
80,728
(30,988)
(60,842)
(105,120)
(21,162)
(252,947)
(440,071)
(120,504)
367,539
247,035
6,493
(41,978)
(124,415)
(13,583)
(370,203)
(543,686)
36,736
197,898
234,634
(60,842)
(239,110)
(21,162)
(246,537)
(567,651)
51,937
423,018
474,955
6,493
(47,216)
(393,147)
(1,099)
(13,583)
(270,576)
(719,128)
52,722
357,794
410,516
100
Marketletter
Analysis of the results
The Company showed an Income, in 3Q13, 176% lower than the result obtained in the previous quarter, from a profit of R$ 823 million in 2Q13
to a net profit of R$ 268 million in 3Q13, mainly due to the reversal of the provision for losses from Companhia de Eletricidade do Amapá S.A.
(CEA), in the amount of R$ 719 million. The reversal of this provision occurred in 2Q13, due to the payment of the first of three installments after debt renegotiation between the parties involved.
Operating Revenue
Generation:
The supply of electricity increased by 14 % from R$ 336 million in 2Q13 to R$ 385 million in 3Q13. This variation is due to increased energy sales
made by the production of SHU Tucuruí regarding the increase in production volume as request by ONS to meet the expected demand.
The supply of electricity increased by 10 %, from R$ 580 million in 2Q13 to R$ 636 million in 3Q13. The main changes are related to the increase
in sales of energy within the CCEE (increase of R$ 20 million in 3Q13) and an increase of R$ 25 million of energy supply to the international
market.
The short-term energy sales was reduced by 76 %, from R$ 262 million in 2Q13 to R$ 62 million in 3Q13. The variation in this account is due
mainly to the need for trading of surplus electricity produced but not contracted. In this case, in 2Q13, according to production needs,
determined by ONS, the Company produced a large amount of non contracted energy and that excess has been settled within the CCEE.
Transmission:
The Revenues from the transmission system (operation and maintenance) showed no significant variation in the period.
The Construction revenue increased by 73%, from R$ 77 million in 2Q13 to R$ 133 million in 3Q13, mainly due to new infrastructure in the
transmission lines.
The revenue from remuneration of financial assets increased by 62%, from R$ 30 million in 2Q13 to R$ 48 million in 3Q13. This increase is
mainly due to the adjustment of the value determined by SPE Estação Transmissora de Energia S.A. during the period, in the amount of R$ 44
million.
Operating Cost
The Electricity purchased for resale increased by 3 % from R$ 19 million in 2Q13 to R$ 20 million in 3Q13. This line item showed no significant
variation in this period.
Charges for use of the electricity grid decreased by 5 % from R$ 138 million in 2Q13 to R$ 131 million in 3Q13. This line item showed no
significant variation in this period.
The Personnel costs increased by 41 %, from R$ 153 million in 2Q13 to R$ 215 million in 3Q13. This increase is primarily due to the
reclassification of expenditures and costs of the Early Retirement Program (PID) in the amount of R$ 57 million.
The usage of water resources decreased by 45% from R$ 71 million in 2Q13 to R$ 39 million in 3Q13. This impact is due to a reduction in the
amount of hydro generation in the period.
The Construction costs increased by 65% from R$ 79 million in 2Q13 to R$ 130 million in 3Q13, mainly due to new infrastructure in transmission
lines.
The other items showed no significant variation in this period.
Operating Expenses
The Personnel expenses decreased by 30% from R$ 251 million in 2Q13 to R$ 175 million in 3Q13, mainly due to the impact of the Early
Retirement Program (PID), launched in 2Q13. The impact of this program in the results of 2Q13 is of R$ 100 million, already considering the
reversal effects from the previous program (PIDV).
The Operating Provisions and reversals showed variation of 92% from the reversal of provisions in 2Q13 of R$ 730 million to a reversal in 3Q13 in
the amount of R$ 55 million, primarily due to the reversal of losses from Companhia de Eletricidade do Amapá S.A. (CEA), in the amount of R$
719 million, which occurred in 2Q13 . The reversal of this provision occurred through the payment of the first of three installments - after
renegotiation of between the parties.
The other items showed no significant variation in this period.
Financial Results
The Financial revenues increased 15,074%, from R$ 0.5 million in 2Q13 to R$ 70 million in 3Q13. This increase relates mainly to the recognition
of R$ 55 million in monetary and exchange gains and R$ 24 million of interest income in the period.
101
Marketletter
The Financial expenses decreased 41%, from R$ 243 million in 2Q13 to R$ 144 million in 3Q13. This variation is due mainly to the recognition of
R$ 50 million in monetary and exchange variations, lower than the previous period, and the result obtained from the derivatives, R$ 28 million
lower than in the previous quarter.
102
Marketletter
Market Data
1.Generation Assets and Energy generated
1.1.Own assets
Installed
Capacity
MW
Unit
HEU Coaracy
Nunes
Tucuruí Complex
HEU Samuel
HEU Curuá-Una
TEU Electron
Guaranteed
energy MW
Average
Energy generated MWh
1Q13
2Q13
3Q13
152,529.95
166,802.23
161,214.37
12,666,669
188,123
43,694
13,427,509
210,946
54,880
7,334,793
115,740
43,972
121.11
-
-
-
119.35
177.74
18.65
32.75
45.49
102,637.71
0.00
87,479.33
-
166,832.84
0.00
85.99
-
-
-
78.00
8,535.00
216.75
30.30
Use granted to Amazonas
Energia
TEU Rio Madeira
TEU Santana
TEU Rio Branco I
TEU Rio Branco II
TEU Rio Acre
TEU Senador
Arnon Afonso
Farias de Mello
Use granted to Boa Vista
Energia as of February 10,
2010
Total
4,140.00
92.70
24.00
9,461.13
Location
(State)
Unit
HEU Coaracy Nunes
Tucuruí Complex
HEU Samuel
HEU Curuá-Una
TEU Electron
AP
PA
RO
PA
Beginning of
Operation
End of
Operation
Oct-75
Nov-84
Jul-89
Jul-77
Dec-42
Jul-24
Sep-29
Jul-28
AM
Jun-05
Jul-20
TEU Rio Madeira
TEU Santana
TEU Rio Branco I
TEU Rio Branco II
TEU Rio Acre
RO
AP
AC
AC
AC
Spet-18
May-19
Jul-20
Jul-20
Oct-20
TEU Senador Arnon
RR
Apr-68
Jan-93
Feb-98
Apr-81
Apr-94
1st Unit (turb. 2) dec/1990;
2nd Unit (turb. 1) jun/1991;
3rd Unit (turb. 3) dec/1993
Use granted to Amazonas Energia
Use granted to Boa Vista Energia as of February 10, 2010
Aug-24
1.2.SPE
SPE
Unit
Installed Capacity
MW
Guaranteed
energy MW
Average
261
154.9
457,808.09
TEU Serra do Navio 23.28
TEU Serra do Navio
21.00
38,085
EAPSA HEU
Energia Águas
Dardanelos
da Pedra S.A.
Amapari
Energia S.A.
TEU Serra
do Navio
Unit
EAPSA - Energia Águas da
Pedra S.A. HEU Dardanelos
Amapari Energia S.A.
TEU Serra do Navio and SHU
Capivara
Energy generated MWh
1Q13
2Q13
3Q13
502,925.36
98,980.7
32,722.00
31,838.00
Participation
%
Location
(State)
Beginning of
Operation
End of
Operation
24.5
MT
Aug-11
Jul-42
(35 years)
49
AP
Jun-08
May-37
103
Marketletter
2.Electric energy purchased for resale
2.1.Own assets
System
Eletrobras
Others
Unit
MWh
R$ million
MWh
R$ million
1Q13
2Q13
204,776.2
16.9
3Q13
204,598.0
19.0
204,624.8
19.6
2.2.SPE - NA
3.Energy sold
3.1.Own assets
Buyer
Sale model
A
Eletrobras System
B
A
Others
B
A
Total
B
Unit
R$ Million
MWh
R$ Million
MWh
R$ Million
MWh
R$ Million
MWh
R$ Million
MWh
R$ Million
MWh
1Q13
2Q13
35.12
285,152.68
255.94
2,407,969.30
601.49
5,850,256.93
291.06
2,693,121.98
601.49
5,850,256.93
35.09
284,404.38
242.09
2,240,482.58
625.59
5,985,711.59
277.18
2,524,886.96
625.59
5,985,711.59
3Q13
36.58
291,650.36
249.16
2,255,418.43
729.08
6,425,606.75
285.74
2,547,068.79
729.08
6,425,606.75
A - Through auction
B - Through free market agreements or bilateral contracts
3.2.SPE
Buyer
Sale model
A
Eletrobras System
B
A
Others
B
A
Total
B
Unit
R$ Million
MWh
R$ Million
MWh
R$ Million
MWh
R$ Million
MWh
R$ Million
MWh
R$ Million
MWh
1Q13
2Q13
0
0
0
0
50.34
332,767.86
10.47
36,290.00
50.34
332,767.86
10.47
36,290.00
0
0
0
0
47.80
310,591.00
10.79
30,808.00
47.80
310,591.00
10.79
30,808.00
3Q13
0
0
0
0
49.2
311,165
10.81
30,310.00
49.2
311,165
10.81
30,310.00
A - Through auction
B - Through free market agreements or bilateral contracts
4.CCEE settlement (Spot and MRE)
Unit
Sale
Purchase
Net
R$ Million
MWh
MWaverage
R$ Million
MWh
MWaverage
R$ Million
MWh
MWaverage
1Q13
457.542
5,344,934.57
2,473.362
268.894
1,007,182.32
466.072
188.648
4,337,752.25
2,007.289
2Q13
303.486
6,013,939.53
2,753.635
162.359
826,029.28
378.219
141.127
5,187,910.25
2,375.417
3Q13
285.246
1,741,810.47
788.863
210.497
3,049,907.08
1,381.298
74.749
-1,308,096.62
-592.435
104
Marketletter
5.Fuel for production of electric energy
Type
Unit
litre
R$ Million
Diesel oil
1Q13
2Q13
103,011,000
217,188,925.00
107,131,000
249,117,133.20
3Q13
70,930,000
162,649,474.80
6.Losses in generation - %
1Q13
2Q13
3Q13
0.888
0.869
1.04
7.Average price– R$/MWh
7.1.Own assets
1Q13
2Q13
3Q13
105.31
106.08
113.10
7.2.SPE
SPE
EAPSA - Energia Águas da
Pedra S.A. UHE Dardanelos
Amapari Energia S.A. UTE
Serra do Navio
1Q13
2Q13
3Q13
151.30
154.02
158.26
288.52
350.32
356.61
105
Marketletter
8.Extension of transmission lines - Km
8.1.Own assets
8.1.1.Transmission line
From - To
Isolated System
Boa Vista- Santa Elena
Sub-Total 230 Kv
Coaracy Nunes - Santana
Coaracy Nunes - Santana
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
Total Isolated System
Interconnected System
Colinas - Miracema
Imperatriz - Colinas
Imperatriz – Marabá (C1)
Imperatriz – Marabá (C2)
Imperatriz - Pres. Dutra (C1)
Imperatriz - Pres. Dutra (C2)
Tucuruí – Marabá – C1
Tucuruí – Marabá – C2
Pres. Dutra - Boa Esperança
São Luiz II - Pres. Dutra
Miranda II - Pres. Dutra
São Luiz II - Miranda II – C1
São Luiz II - Miranda II – C2
São Luiz II - Pres. Dutra
Tucuruí - Vila do Conde
Tucuruí (Usina) - Tucuruí (Se)
Sub-Total 500 Kv
Altamira - Rurópolis
Barra Peixe – Rondonópolis – C1
Rondonópolis - Coxipó
Rondonópolis - Coxipó
Coxipó - Nobres
Nobres – Nova Mutum C-1
Nova Mutum - Sorriso C-1
Sinop - Sorriso C-1
Nobres - Sinop
Guamá - Utinga
Guamá - Utinga
Imperatriz - Porto Franco
Jauru - Coxipó
Jauru - Coxipó
Miranda Ii - Peritoró
Pres. Dutra - Peritoró
Peritoró - Coelho Neto
Coelho Neto - Teresina
São Luiz II - Miranda II
São Luiz II - São Luiz I - C1
São Luiz II - São Luiz I – C2
São Luiz II - São Luiz III
Tucuruí - Altamira
Utinga - Santa Maria
Vila do Conde - Guamá
Vila do Conde - Guamá
Marabá - Carajás
Extension
(km)
Tension
(Kv)
Beginning of
Operation
End of
Concession
190.2
190.2
108
109
4
87
308
20
13
130
17
12.6
5.09
197.69
695.89
230
Jun/01
Jan/43
138
138
138
138
Oct/75
Apr/96
Jun/00
Jan/43
Jan/43
Jan/43
Jan/43
69
69
69
69
69
69
Nov/96
Aug/00
Dec/01
Fec/02
Dec/07
Sep/08
Jan/43
Jan/43
Jan/43
Jan/43
Jan/43
Jan/43
173.97
342.6
181.09
181.82
386.6
385.3
222.14
221.7
205.39
0
195.5
106.8
500
500
500
500
500
500
500
500
500
500
500
500
Mar/99
Mar/99
Apr/81
Mar/88
Oct/82
Feb/88
Oct/81
Feb/88
Oct/82
Jul/84
Nov/10
Nov/10
Jan/43
Jan/43
Jan/43
Jan/43
Jan/43
Jan/43
Jan/43
Jan/43
Jan/43
Jan/43
0
327.1
10.71
3,243.32
330.02
216.79
187.8
187.8
105
500
500
500
Mar/86
Dec/81
Nov/84 to May/05
Jan/43
Jan/43
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
Oct/88
Oct/97
Sep/88
Jul/84
Apr/01
Jan/43
Jan/43
Jan/43
Jan/43
Jan/43
Jan/43
Jan/43
Jan/43
Jan/43
Jan/43
Jan/43
Jan/43
Jan/43
Jan/43
Jan/43
Jan/43
Jan/43
Jan/43
Jan/43
Jan/43
Jan/43
Jan/43
Jan/43
Jan/43
Jan/43
Jan/43
Jan/43
346
19.4
19.4
110.1
366
366
94.2
115
223
127.1
105.3
18.6
19
35.94
317.6
93.02
49.3
49.3
145
Aug/08
Dec/81
Dec/81
Oct/94
Jun/03
Jun/03
Dec/02
Mar/03
Jul/06
Sep/06
Nov/02
Jan/83
Set/88
May/10
Jun/98
Dec/94
Apr/81
Dec/82
Oct/04
106
Marketletter
From - To
Barra Peixe – Rondonópolis- C2
Rio Verde (Couto Magalhães) - Rondonópolis
São Luiz II - UTE São Luiz
Carajás - Integradora
Castanhal – Santa Maria
Utinga - Castanhal
Abunã - Rio Branco
Ariquemes - Jarú
Jarú - Ji-Paraná
Ariquemes - Ji-Paraná
Samuel - Ariquemes
Samuel - Porto Velho
Samuel - Porto Velho
Samuel (Usina) - Samuel (SE)
Porto Velho - Abunã
Ji-Paraná - Pimenta Bueno
Pimenta Bueno – Vilhena
Ribeiro Gonçalves - Balsas
Sub-Total 230 Kv
Tucuruí-Vila - Cametá
Coxipó - Rondonopolis-Cemat
Coxipó - São Tadeu
São Tadeu - Jaciara
Jaciara - Rondonopolis-Cemat
Couto Magalhães - Rondonopolis-Cemat
Curuá-Uma - Tapajjós-Celpa
Sub-Total 138 Kv
Tucuruí - Tucuruí Vila
Tucuruí Vila - Cametá
Utinga - Miramar
Tucuruí (Usina) - Tucuruí (SE)
Tucuruí (Usina) - Tucuruí (SE)
Sub-Total 69 Kv
General Total
Extension
(km)
217
177.83
0.05
83
302
83.82
80.69
151.6
40.55
40.55
2.85
188
117.8
160.2
95
5,387.61
214.21
0
44.17
77.92
70
176
68.8
651.1
2.3
1.4
1.4
5.10
9,983.02
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
May/08
Jul/83
Jan/82
Aug/08
Jan/43
Jan/43
Jan/43
Jan/43
Nov/02
Sep/97
Spt/97
Jan/43
Jan/43
Jan/43
Jan/43
Jan/43
Jan/43
Jan/43
Jan/43
Jan/43
Jan/43
Jan/43
138
138
138
138
138
138
138
Ago/98
Jul/81
Jan/10
Jan/10
Jan/10
Apr/81
Jan/06
69
69
69
69
69
Jul/97
Aug/94
Jul/89
Jul/89
Jul/89
May/02
Jun/08
Oct/08
Dez/11
Jan/43
Jan/43
Jan/43
Jan/43
Jan/43
Jan/43
Jan/43
Jan/80
Dec/85
107
Marketletter
8.1.2.Substation
Substation
Altamira
Cametá
Carajás
Guamá
Marabá
Rurópolis
Santa Maria
Tucuruí
Transamazônica
Tucuruí-Vila
Utinga
Vila do Conde
São Luis I
São Luis II
São Luis III
Miranda II
Peritoró
Presidente Dutra
Coelho Neto
Imperatriz
Porto Franco
Ribeiro Gonçalves
Balsas
Colinas
Miracema
Barra do peixe
Ccouto Magalhães
Coxipó
Jauru
Nova Mutum
Rondonopolis
Sinop
Sorriso
Nobres
Lucas do Rio Verde
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
Transformation capacity
120.30
23.55
0.30
354.00
1,063.80
200.60
500.15
619.00
60.30
58.44
602.00
3,549.40
401.73
2,079.00
300.30
950.60
300.11
747.61
130.00
1,842.17
266.50
350.00
100.00
1.50
182.50
125.60
15.11
571.20
600.45
60.60
200.90
355.00
60.60
0.00
75.00
22.10
18.75
422.95
120.30
320.60
525.60
110.60
0.30
110.60
120.60
30.15
27.08
20.05
10.08
40.22
10.08
120.45
80.03
79.95
53.43
201.65
19,313.89
Location
Beginning of
Operation
Pará
Pará
Pará
Pará
Pará
Pará
Pará
Pará
Pará
Pará
Pará
Pará
Maranhão
Maranhão
Maranhão
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
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
06/98
08/98
11/06
12/81
10/81
12/98
09/95
10/81
12/98
06/99
12/81
12/81
12/82
12/82
05/10
06/98
12/82
12/82
01/00
12/82
02/94
12/11
12/11
03/99
03/99
11/93
10/81
07/87
06/03
09/96
07/83
09/96
09/96
04/01
03/08
10/08
11/12
08/94
09/94
07/89
05/02
07/89
06/08
10/08
09/97
11/75
04/96
12/01
06/00
05/02
10/75
12/07
08/00
11/96
07/01
* The SE Lucas do Rio Verde, property agent BRF (Sadia), was energized on 02/11/2012. These assets are being transferred to Eletronorte, but transfer has not yet been finalized.
108
Marketletter
8.2.SPE
8.2.1.Transmission Lines
Beginning
of
Operation
End of
Concession
230
Aug-05
Fev-34
695
500
May-08
Abr-36
49.71
402
230
Sep-09
Mar-38
TL Jauru / Cuiabá, 230 kV,
Mato Grosso
49
348
500
Nov-11
Nov-39
Porto Velho (RO) – Abunã
(RO) - Rio Branco (AC)
100.00
487
230
Jan-13
Sep-39
Oriximiná - Silves Lechuga (AM), SE
Itacoatiara e SE Cariri
30.00
559
500
Mar-13
Oct-38
Transmission lines
From – To
SPE
AETE - Amazônia
Eletronorte
Transmissora de
Energia S.A.
INTESA Integração
Transmissora de
Energia S.A.
Coxipó-CuiabáRondonópolis (MT), SE
Seccionadora Cuiabá
Colinas-MiracemaGurupi-Peixe NovaSerra da Mesa 2 (TO /
GO)
Jauru - Juba – C2 (MT)
and Maggi - Nova
Mutum (MT), SE Juba
and SE Maggi - 230/138
kV
BRASNORTE
Transmissora de
Energia S.A.
Transmissora
Matogrossense de
Energia S.A. - TME
Rio Branco
Transmissora de
Energia S.A.
(Ações transferidas
para a Eletrobrás
EletronorteDespacho ANEEL
2350, de
01/06/2011)
Manaus Transmissora
de Energia S.A.
Participation
%
Extension
(km)
49
193
37
Tension
(kV)
8.2.2.Substation
SPE
Estação Transmissora de
Energia S.A.
(Shares transferred to Eletrobras
Eletronorte-Dispatch ANEEL
3532, de 11.23.10)
Transmission lines
From – To
Participation
%
Extension
(km)
Tension
(kV)
Beginning
of
Operation
Converter Station 01
CA/CC, 500/±600 KV
and Inverter Station 01
CC/CA,
±600/500 kV
100.00
-
500/ ±600
Apr-12
End of
Concession
Feb-39
9.Transmission losses - % - NA
109
Marketletter
10.Main investments of parent company – R$ million
Project
1Q13
Generation
HPU Coaracy 2nd stage
Generation system maintenance
HPU Curuá-Una-Amplia
Transmission
TS Amapá
Reinforcement of the Isolated System
TS North/Northeast-Maranhão
Transmission system maintenance
Reinforcement of interconnected system
Extension of transmission system
Others
Preservation and conservation
Infrastructure
Infrastructure
Infrastructure
Headquarters
Total
2Q13
2.807
0.399
2.056
0.352
27.960
0.007
0.090
0.643
6.899
20.321
7.294
5.313
0.264
1.717
76.122
3Q13
5.233
0.28
4.405
0.548
60.258
0.000
0.194
2.515
5.896
51.653
8.131
4.749
0.024
2.912
0.446
73.623
2013 budget
3.698
0.198
3.325
0.176
79.048
0.000
1.124
0.429
5.976
71.518
0.000
4.380
3.023
0.000
0.007
0.458
0.892
87.126
63.008
22.000
32.008
9.000
547.289
0.200
11.470
14.746
71.500
442.473
6.900
49.340
32.340
1.050
1.050
12.900
2.000
1,319.274
11.New investments
11.1.Generation
11.1.1.Own assets - NA
11.1.2.SPE
SPE
Brasventos
Miassaba 3
Geradora
de Energia
S.A
Brasventos
Eolo
Geradora
de Energia
S.A.
Rei dos
Ventos 3
Geradora
de Energia
S.A.
Norte
Energia
S.A.
Unit
Participacion
%
Location
(State)
Total of
Investment
R$ million
Investment
up to 3Q13
R4 million
Installed
Capacity
MW
Assured
Energy
Beginning
of
Operation
Beginning of
Construction
End of
concession
Miassaba 3
Wind Power
Plant
24.50
RN
263.6
228.2
68.47
22.8
11/13
06-11
Aug-45
(35 years)
Rei dos
Ventos 1
Wind Power
Plant
24.50
RN
226.3
215.8
58.45
21.9
11/13
04-12
Dec-45
(35 years)
Rei dos
Ventos 3
Wind Power
Plant
24.50
RN
226.3
202.6
60.12
21.1
11/13
06-11
Dec-45
(35 years)
PA
29,375.00
basis end of
works
25,885
basis April/
2010
10,597.04
11,233
4,571
02/15
Jun-11
Aug-45
(35 years)
HEU Belo
Monte
19.98
110
Marketletter
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
Beginning of
Operation
End of
concession
35,533
30
230
12/13
Jul/40
52,000
30
230
04/14
May/42
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
Total of
investment
R$ million
10.516
(basis dec/2010)
16.968
(basis sep/2011)
11.937
(basis jun/11)
25.6
(basis dec/10)
Transformation
capacity
Location
Beginning of
Operation
End of
concession
55 MVA
AC
09/13
09 - 43
100 MVA
MT
10/13
10 - 41
100 MVA
MT
09/13
09 – 43
3 x 60 MVA
MA
10/13
10-43
111
Marketletter
11.2.2.SPE
11.2.2.1.Transmission lines
FromTo
SPE
Norte Brasil
Transmissora de
Energia S.A
Linha Verde
Transmissora de
Energia S.A.
Transnorte Energia
S.A.
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) and
Equador
(RR) - Boa
Vista (RR),
double
circuit and
SEs
Equador
(RR) Boa
Vista (RR)
Participation
%
Total of
investment
R$ million
Invest.
up to
3Q2013
R$
million
Extension
of lines
KM
Tension
Beginning
of
Operation
24.50
2,418
2,125.2
2,375
±600
07-14
Fev-39
49.00
602.2
357.2
987
230
Jul-14
(prev.)
Nov/39
49.00
1,003.00
61.1
715
500
Jan-15
Jan-42
End of
concession
11.2.2.2.Substations - NA
112
Marketletter
12. Loans and financing – R$ million
Local currency – LC
Creditor
Balance
03.31.13
Balance
06.30.13
Balance
09.30.13
Eletrobras ECF-1424/96
18.39
0
0
Eletrobras ECF-1545/97
66.68
0
0
Eletrobras ECF-1679/97
0.12
0
0
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-2785/09
Eletrobras ECF-2818/10
Eletrobras ECF-2894/10
Eletrobras ECF-2934/11
Eletrobras ECF-3038/13
BNDES-03.2.782.3.1
BNDES -09.02.1355.1
232.69
402.22
93.79
12.15
139.01
27.37
1.765.42
35.62
81.45
369.28
379.85
0.00
357.38
34.03
227.32
383.07
88.67
11.19
136.38
26.86
1.768.81
34.84
79.78
41.69
383.83
73.17
331.63
33.06
218.63
355.46
81.38
9.86
130.91
25.78
1,747.56
33.44
76.57
0
382.27
74.20
306.19
32.12
BNDES -10.20.2677
11.41
11.16
10.92
Banco do Brasil
Banco do Nordeste
Banco do Brasil
Bando da Amazônia
9.74
70.73
2.80
25.76
9.21
70.48
6.53
25.37
8.71
69.57
6.53
24.99
Due Date
06/30/18
03/30/18
08/30/13
12/30/23
05/30/18
09/30/17
04/30/16
06/30/21
06/30/21
12/30/29
09/30/21
10/30/21
01/30/14
06/30/23
07/30/20
09/15/16
11/15/24
11/15/24
01/01/18
06/03/31
12/01/26
01/01/29
Index
RGR +16.95%
p.y.
RGR +17.03%
p.y.
RGR +11.75%
p.y.
RGR +8.42% p.y.
RGR+ 7% p.y.
RGR+ 7% p.y.
RGR+ 7% p.y.
IPCA+ 7% p.y.
IPCA +7% p.y.
IPCA+ 7% p.y.
IPCA+ 7% p.y.
IPCA+ 7 % p.y.
IPCA +7% p.y.
IPCA+ 7% p.y.
Selic
TJLP+ 3.5% p.y.
TJLP +2.5% p.y.
TJLP + 2.5 %
p.y.
8.5% p.y.
8.5% p.y.
8.5% p.y.
8.5% p.y.
Foreign currency – FC
Balance
03.31.13
Balance
06.30.13
Balance
09.30.13
Eletrobras ECR-257/97 – BID
339.18
350.67
360.65
Eletrobras ECR-259/98 – CAF
26.82
29.83
23.75
08/04/15
US$ + 6.83%
p.y.
Libor + 3.58%
p.y.
153.65
152.09
156.20
04/06/25
YEN + 2.48% p.y.
0.01
0.02
0.25
1.24
0.00
0.01
0.16
0.89
0.00
0.01
0.17
0.92
12/31/13
12/31/15
12/31/16
04/15/14
EUR + 3.5% p.y.
EUR +3.5% p.y.
EUR + 3.5% p.y.
US$ + 8% p.y.
Creditor
Eletrobras ECR – 260/98 –
Eximbank
Credit Balbina 121/0111
Credit National 121/0118
Credit National 121/0122
D.M.L.P – National Teasury
Due Date
04/06/25
Index
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
2013
2014
2015
2016
2017
After 2017
Total (LC + FC)
73.82
38.30
0.15
294.60
108.78
11.79
306.54
108.78
11.79
295.88
106.24
226.06
100.53
1,923.86
529.64
3,120.76
992.27
23.73
81.74
29.08
289.39
114.03
301.33
114.00
313.55
88.56
313.69
12.90
2,379.95
99.16
3,679.65
457.11
113
Marketletter
13.1.2.SPE
Loans and financing
2013
By activity
Generation
Transmission
Energy tradings
By creditor
Eletrobras
Others
2014
2015
9,208.6
3,670.7
9,810.1
3,579.1
10,456.8
3,460.9
8,182.8
4,696.5
8,383.2
5,005.9
8,610.4
5,307.3
After 2015
13.2.Energy purchase
13.2.1.Parent company
Energy Purchase
Contracts
Unit
MWh
R$ million
MWh
R$ million
MWh
R$ million
Edelca
Termonorte
Total
2013
827
68.603
0
0
827
68.603
2014
2015
2016
2017
After
2017
876
73.581
0
0
876
73.581
876
77.628
0
0
876
77.628
876
81.665
0
0
876
81.665
876
85.748
0
0
876
85.748
2,628
223.222
0
0
2,628
223.222
13.2.2.SPE - NA
13.3.Energy sale
13.3.1.Parent company
Energy
sale
contracts
Regulated
Market
Bilateral
Contract –
Free
consumersLong term
Bilateral
Contract –
Captive
consumers
Bilateral
Contract –
Free
consumersMidium
term
Total
Unit
MWh
2013
2014
2015
2016
2017
After 2017
10,813,281
8,137,881
982,151
0
0
0
1,228,937,175.20
1,026,166,717.96
137,460,682.02
0.00
0.00
0.00
14,579,610
12,955,690
10,605,382
10,151,317
10,123,582
78,134,959
1,279,215,018.75
1,183,424,100.15
954,361,049.94
928,137,300.97
976,231,803.66
9,432,182,470.83
1,888,941
251,778
576,693
578,273
576,693
288,347
258,302,815.10
41,345,134.34
0.00
0.00
0.00
35,035,769.77
6,503,783
2,417,760
1,769,520
887,184
832,200
3,242,520
R$
759,772,297
226,492,218
174,891,370
48,927,529
51,462,871
54,277,890
MWh
33,785,615
23,763,109
13,933,746
11,616,774
11,532,475
81,665,826
3,526,227,305.93
2,477,428,170.23
1,266,713,102.05
977,064,830.34
1,027,694,674.71
9,521,496,130.70
R$
MWh
R$
MWh
R$
MWh
R$
114
Marketletter
13.3.2.SPE
Energy sale
contracts
(EAPSA) Regulated
Market
(Eolo) Regulated
Market
(Rei dos Ventos 3)
Regulated Market
(Miassaba 3)
Regulated Market
(N E S A) Regulated
Market
(N E S A)
Bilateral Contracts
(Self Producers)
(Amapari) Bilateral
Contracts - Free
Consumers Medium
Term*
Total
*
Unit
MWh
R$ million
MWh
R$ million
MWh
R$ million
MWh
R$ million
MWh
R$ million
MWh
2013
1,287,720
205.5
30,660
5.7
30,660
5.7
32,120
5.9
2014
1,287,720
205.5
183,960
34.7
183,960
34.8
192,720
36.2
2015
2016
2017
1,287,720
205.5
183,960
34.7
183,960
34.8
192,720
36.2
604,133
60.34
86,305
1,291,248
206.1
183,960
34.7
183,960
34.8
192,720
36.2
10,085,137
1,054.81
1,440,734
1,287,720
205.5
183,960
34.7
183,960
34.8
192,720
36.2
26,905,239
2,920.84
3,843,606
29,638,728
4,729.7
2,912,700
549.4
2,912,700
551.0
3,051,400
573.2
778,352,622
172,236.18
112,172,340
11.12
194.29
535.62
31,207.25
13,377,759
1,560.9
32,597,205
3,767.66
929,040,490
209,846.73
R$ million
MWh
R$ million
MWh
R$ million
160,405
252,000
252,000
46.86
57.5
60.40
1,541,565
269.66
2,100,360
368.7
2,790,798
443.06
After 2017
(Amapari) Maximum values as per power purchase contract terms
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
1Q13
2Q13
3Q13
51
209
18
18
142
204
642
39
220
18
18
141
205
641
32
227
17
19
134
209
638
1Q13
2Q13
3Q13
Transmission
Composition of employees by tenure (Years)
Up to 5
6 to 10
11 to15
16 to 20
21 to 25
beyond 25
Total
280
315
10
17
373
567
1,562
111
398
56
42
238
687
1,532
139
454
8
18
341
555
1,515
115
Marketletter
Administration
Composition of employees by tenure (Years)
Up to 5
6 to 10
11 to15
16 to 20
21 to 25
beyond 25
Total
1Q13
80
328
58
39
175
543
1,223
2Q13
3Q13
150
341
9
16
294
434
1,244
80
326
56
39
167
534
1,202
14.2.By region
State
1Q13
Acre
Amazonas
Amapá
Maranhão
Mato Grosso
Pará
Rondônia
Roraima
São Paulo
Tocantins
Tucuruí
Distrito Federal
Number of employees
2Q13
147
09
189
363
230
524
262
51
06
61
292
1,293
146
09
188
361
229
521
260
50
07
61
292
1,293
3Q13
143
8
186
356
223
512
254
49
6
60
292
1,266
14.3.By departments
Department
Field
Administrative
1Q13
Number of employees
2Q13
313
2,204
1,223
2,173
1,244
2,153
1,202
15.Complementary work force
Operational
1Q13
2Q13
3Q13
396
388
398
16.Turn-over
1Q13
2Q13
3Q13
0.23
0.13
1.00
116
Balance Sheet
(R$ thousand)
Assets
Current Assets
Cash and banks
Marketable securities
Consumers
Taxes and social contribution
Storage of Nuclear fuel
Stored goods
Other
Non-Current Assets
Long-term assets
Marketable securities
Consumers
Stored Nuclear fuel
Linked deposits
Other
Property, plant and equipment
Intangible
Total Assets
09.30.13
12.31.12
29,228
305,559
156,886
42,758
343,730
93,514
59,766
1,031,441
131,354
513,492
475,524
81,977
360,751
64,925
63,872
1,691,895
268,438
430,072
42,432
17,021
757,963
9,103,682
45,450
9,907,095
10,938,536
230,670
400,212
481,495
39,726
17,021
1,169,124
8,413,775
34,330
9,617,229
11,309,124
117
Liabilities and Stockholders’ Equity
Current Liabilities
Suppliers
Loans and financing
Taxes and social contributions
Estimated obligation
Sector charges
Post-retirement benefits
Other
Non-Current Liabilities
Suppliers
Loans and Financing
Provision for risks
Post-retirement benefits
Demobilization of asset obligation
Other
Stockholders’ Equity
Social capital
Accrued losses
Other comprehensive income
Total Liabilities and Stockholders’ Equity
09.30.13
12.31.12
152,308
61,395
53,457
119,697
2,502
8,376
16,560
414,295
443,648
53,590
111,267
68,001
3,664
7,736
56,771
744,677
71,396
2,709,410
72,440
233,573
1,025,185
4,461
4,116,465
546,854
2,395,394
67,359
214,078
988,490
852
4,213,027
6,607,258
(22,854)
(176,628)
6,407,776
10,938,536
6,607,258
(69,992)
(185,846)
6,351,420
11,309,124
118
Statement of Income
(R$ thousand)
09.30.13
Net Operating Revenue
Operating cost
Gross operating income
Operating Expense
Electric energy service result
Financing result
Income before tax
Tax and Social contribution
Net income for the period
Income attributable to controlling shareholders
Base and diluted income per share (R$)
1,385,684
(1,031,940)
353,744
(208,408)
145,336
(52,543)
92,793
(45,655)
47,138
47,138
0.0018
09.30.12
1,467,336
(919,700)
547,636
(169,012)
378,624
2,969
381,593
(97,159)
284,434
284,434
0.0109
119
Cash Flow
(R$ thousand)
09.30.13
Operating Activities
Net income for the period
Adjustments in the conciliation of net income (loss) with cash generated
Depreciation of permanent assets
Write-off of some Property, plant and equipment
Intangible amortization
Write-off and adjustments - intangibles
Write-off and adjustments – legal deposits
Raw material consumption and stored material
Monetary Variations- loans and financing
Monetary Variations – suppliers and other
Debt charges – loans and financing
Remuneration of fund for decommissioning of assets
Post-retirement benefits– actuarial provision
Income participation
Vacation provisions
Provision / Reversion for credits of questionable liquidation
Adjustment to present value of the decommissioning liability
Adjustment to present value of the distributors receivables
Adjustment to present value Furnas payables
Other adjustments
Variation - (increase) and decrease in operating assets
Clients
Stored materials
Taxes to recover PASEP,COFINS, Income tax, Social Cont, and others
Decommissioning Fund
Linked deposits
Other operating assets
Variation – increase and (decrease) – in operating liabilities
Suppliers
Taxes (except Income tax and Social Contribution)
Payment-roll obligations and vacation provision
Income participation
Payment to Fundação Real Grandeza
Taxes - payable
Income participation - payable
Other operating liabilities
Resources from operating activities
Financing Activities - increase and (decrease)
Long-term loans and financing obtained
Financing payments on a short-term basis
Payment of IOF and debt charges
Resources from loans and financing activities
Investment Activities - increase and (decrease)
Acquisition of property, plant and equipment assets
Acquisition of intangibles
Acquisition of marketable securities
Redemption of bonds and securities
Resources applied in investment activities
Increase in cash and cash equivalent
- Cash and cash equivalent – beginning of period
- Cash and cash equivalent – end of period
Increase in cash and cash equivalent
09.30.12
92,793
381,593
210,928
488
6,390
212
254,450
11,283
31,236
(13,880)
36,146
4,011
4,220
36,695
(32,446)
29,445
671,971
189,135
(422)
5,682
(180)
256,612
3,267
(11,269)
29,864
(23,035)
6,353
(10,570)
3,099
1,591
16,716
4,152
852,588
751,296
(214,595)
47,923
(2,918)
63
581,769
(32,856)
(343,862)
(15,909)
(30,081)
63,339
(359,369)
(807,526)
(57,810)
12,752
(6,793)
(19,426)
(38,376)
2,084
(915,095)
338,645
(38,641)
(41,412)
23,445
(34,114)
(27,682)
(98,646)
(217,050)
276,169
299,969
(64,238)
(44,954)
190,777
435,000
(51,507)
(51,431)
332,062
(824,438)
(12,155)
(90,456)
295,501
(631,548)
(102,126)
131,354
29,228
(102,126)
(527,347)
(3,935)
(104,943)
(636,225)
(27,994)
124,432
96,438
(27,994)
120
Analysis of the result
Operating revenue
With the new energy trading model of power plants Angra 1 and Angra 2, regulated by ANEEL, a fixed amount of R$ 1,882.6 million was
established for 2013. This revenue is invoiced in 12 equal monthly installments of R$ 156.9 million, therefore, there is no quarterly change in
gross revenue.
In addition, in September of 2013, adjustments were recorded in energy revenues by Resolution No. 1.585/2013 of August 13, 2013, totaling an
increase of R$ 108.6 million in gross revenue.
Operating costs
The Nuclear Fuel consumption increased by 42.4%, from R$ 57.4 million in 2Q13 to R$ 81.7 million in 3Q13 due to the return to operation of
Angra 2 Plant, after stoppage.
The cost of materials and third-party services decreased by R$ 12.7 million between 2Q13 and 3Q13 since 2Q13 was affected by the stoppage
expenses of Angra 2.
Personnel costs recorded an increase of R$ 10.5 million between 2Q13 and 3Q13 due to the wage increase of collective agreements.
Operating expenses
The operating expenses had a decrease of 19.5 %, from R$ 83.6 million in 2Q13 to R$ 67.3 million in 3Q13 due to the law suit provisions
recorded in 2Q13 in the amount of R$ 12.4 million, compared to R$ 0.8 million in 3Q13. The Personnel costs recorded an increase of R$ 1.2
million between 2Q13 and 3Q13, due to the wage increase of collective agreements . These values exceeded the normal variations of the
remaining items.
Financial results
The financial result of 3Q13 reflected a gain of R$ 1.3 million, 107.1% higher than the loss of R$ 18.5 million in 2Q13.
The Financial Income Fund line item for the Decommissioning of plants Angra 1 and Angra 2 was the main item affecting this result, a difference
of R$ 21.9 million due to the devaluation in 3Q13.
121
Market Data
1. Generation Assets and Energy generated
Unit
Guaranteed energy MW
Average
Installed Capacity MW
Angra I
Angra II
Total
640
1,350
1,990
509.8
1,204.7
1,714.5
1Q13
Energy generated – MWh
2Q13
3Q13
355,684.06
2,872,228.44
3,227,912.50
1,241,270.79
1,828,805.82
3,070,076.61
987,649.71
3,022,598.71
4,010,248.42
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 - NA
3. Energy sold
Buyer
Eletrobras
System
Others
Total
Sale
model
1Q13
R$ million
A
B
A
B
A
B
MWh
2Q13
R$ million
MWh
3Q13
R$ million
MWh
13.4
97,084.4
13.4
97,084.4
13.4
97,084.4
457.3
3,326,201.1
457.3
3,326,201.1
457.3
3,326,201.1
470.7
3,423,285.5
470.7
3,423,285.5
470.6
3,423,285.5
A - Through auction
B - Through free market agreements or bilateral contracts
4. CCEE settlement (Spot and MRE) - NA
5. Fuel used to produce electricity
1Q13
Type
Uranium
Kg
54,558.0
2Q13
R$ Million
77,28
Kg
R$ Million
59,304
52,38
3Q13
R$ Million
Kg
67,194
81.63
6. Losses in generation - %
1Q13
2Q13
3Q13
2.51
2.45
2.41
7. Average price– R$/MWh
1Q13
2Q13
3Q13
137.49
137.49
137.49
8. Extension of transmission lines - Km – NA
9. Transmission losses - % - NA
122
10.Main investments– R$ million
Project
1Q13
Generation
Angra 1 and 2
Angra 3
Others
Total
2Q13
26.3
154.4
2.7
183.4
3Q13
39.6
339.1
2.9
381.8
2013 budget
29.3
316.2
10.7
356.2
294.7
2,796.6
44.7
3,136.0
11. New investments
Generation
Unit
Location
(State)
Total of
investment
R$ million
Implementation
of the Angra 3
Nuclear Plant
State of Rio de
Janeiro /
Municipality of
Angra dos Reis
13,016.5
(basis: Jun/12 –
Direct costs)
Installed
capacity MW
1,405 MW
Guaranteed
energy
Beginning
Beginning
of
of
Operation construction
1,214.2
05/18
MW médios
End of
concession
Jun/10
not applicable
12. Loans and financing – R$ million
Local currency – LC
Creditor
Balance
03.31.13
Balance
06.30.13
Balance
09.30.13
Date Due
Index
Eletrobras
BNDES
1,089.8
1,371.8
1,131.9
1,497.5
1,100.0
1,670.8
2038
2036
Ufir + 7% p.y.
TJLP + 1.72 p.y.
Foreign currency – FC - NA
13.Contracts
13.1.Loans and financing – R$ million
Loans and financing
By activity
Generation
By creditor
Eletrobras
Others
2013
2014
2015
2016
2017
After 2017
18.7
51.9
56.7
71.9
85.9
2,485.7
14.2
4.5
51.9
0
56.7
0
47.3
24.6
34.1
51.8
895.8
1,589.9
13.2.Energy purchase – NA
123
13.3.Energy sale
Contracts of
energy sales
Unit
MWh
R$
MWh
R$
MWh
R$
Regulated
Market
Bilateral
Contract
TOTAL
2013
2014
2015
2016
2017
13,876,900
1,882,640,327.56
13,876,900
1,882,640,327.56
13,876,900
1,882,640,327.56
13,876,900
1,882,640,327.56
13,876,900
1,882,640,327.56
13,876,900
1,882,640,327.56
13,876,900
1,882,640,327.56
13,876,900
1,882,640,327.56
13,876,900
1,882,640,327.56
13,876,900
1,882,640,327.56
14.Number of employees
After 2017
27,753,800
3,765,280,655.12
27,752,000
3,765,280,655.12
(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
1Q13
2Q13
3Q13
401
359
291
169
137
511
1,868
401
359
291
169
137
511
1,868
412
371
283
156
140
505
1,867
Administration
Tenure in years
Up to 5
6 to 10
11 to15
16 to 20
21 to 25
beyond 25
Total
1Q13
2Q13
99
149
43
9
97
288
685
99
149
43
9
97
283
680
3Q13
110
150
42
6
99
285
692
14.2.By region
State
Rio de Janeiro
Federal District
1Q13
2,548
5
Number of employees
2Q13
2,543
5
3Q13
2,554
5
14.3.By departments
Departments
Field
Administrative
1Q13
Number of employees
2Q13
3Q13
2,250
303
2,244
304
2,249
310
15.Complementary work force- NA
124
16.Turn-over
1Q13
2Q13
3Q13
0.0043
0.0039
0.0035
125
Marketletter
Balance Sheet
(R$ thousand)
Assets
Current Assets
Cash and banks
Consumers
Financing asset – public service concession
Compensation credits – Law 12,783/13
Renegotiated energy credits – Law 8,727/93
Dividends to receive
Taxes to recover
Stored materials
Colateral, deposit and linked funds
Other credits
Non-current Assets
Compensation credits – Law 12,783/13
Renegotiated energy credits – Law 8,727/93
Taxes to recover
Deferred fiscal asset
Colateral, deposit and linked funds
Advance for future capital increase
Financing asset – public service concession
Other credits
Investments
Property, plant and equipment, net
Intangible
Total Assets
Parent Company
09.30.13
12.31.12
Consolidated
09.30.13
12.31.12
786,402
106,631
58,757
391,107
129,505
10,717
75,990
33,739
65,742
61,012
1,719,602
87,454
141,835
16,434
1,404,632
140,068
23,052
29,582
32,318
55,352
69,410
2,000,137
795,954
109,148
61,746
391,107
129,505
3,330
75,991
33,739
65,742
61,017
1,727,279
210,988
168,112
52,119
1,404,632
140,068
1,340
36,038
32,318
55,352
69,238
2,170,205
325,923
387,861
27,922
263,873
65,498
137,601
2,109,765
37,085
3,355,528
2,376,167
2,475,186
166,005
8,372,886
10,092,488
620,651
438,586
41,435
319,214
45,718
31,898
969,776
41,014
2,508,292
2,547,215
2,012,129
83,274
7,150,910
9,151,047
325,923
387,861
27,922
263,873
68,698
137,601
2,193,825
32,466
3,438,169
2,320,317
2,475,186
181,514
8,415,186
10,142,465
620,651
438,586
51,992
324,543
56,536
31,898
2,158,504
53,649
3,736,359
1,461,129
2,431,982
188,317
7,817,787
9,987,992
126
Marketletter
Liabilities and Stockholders’ Equity
Current Liabilities
Loans and financing
Suppliers
Payment-roll
Taxes
Dividends payable
Estimated obligations
Complementary security fund
Research and development
Provision for losses on onerous contracts
Other liabilities
Non-Current Liabilities
Loans and financing
Taxes
Estimated obligation
Provision for contingencies
Complementary security fund
Advance for future capital increase
Provisios for onerous contracts
Concessions to pay – Use of public owned assets
Other liabilities
Stockholders’ Equity
Social Capital
Income reserve
Adjustment of asset evaluation
Additional proposed dividends
Accrued income
Non-controlling participation
Total Liabilities and Stockholders’ Equity
Parent Company
09.30.13
12.31.12
Consolidated
09.30.13
12.31.12
380,497
49,353
28,560
47,900
66,066
77,796
11,733
29,716
18,053
160,003
869,677
180,526
70,540
36,775
45,329
15,636
64,942
13,158
26,331
28,673
168,781
650,691
387,455
49,364
28,571
48,062
68,529
77,827
11,733
30,404
18,053
160,353
880,351
270,336
84,987
36,808
59,238
16,272
72,107
13,158
29,298
28,673
175,364
786,241
2,586,098
82,077
59,579
100,981
236,447
607,987
727,717
27,107
49
4,428,042
1,852,407
109,762
7,212
120,366
239,011
554,930
930,327
26,507
57
3,840,579
2,611,826
82,077
59,579
100,981
236,447
607,987
727,717
27,107
177
4,453,898
2,535,414
109,762
7,212
120,366
239,011
554,930
930,327
26,507
4,984
4,528,513
3,740,410
1,059,172
(186,577)
181,764
4,794,769
13,447
10,142,465
3,740,410
1,059,172
(186,711)
46,906
4,659,777
13,461
9,987,992
3,740,410
1,059,172
(186,577)
181,764
4,794,769
10,092,488
3,740,410
1,059,172
(186,711)
46,906
4,659,777
9,151,047
127
Marketletter
Statement of Income
(R$ thousand)
Generation
Net Operating Revenue
Operational cost
Electric energy cost
Electric energy purchased for resale
Provision (reversion) for losses on onerous contracts
Operational costs
Personnel, Material and Third party services
Depreciation and amortization
Legal fees
Provision for credits of questionable liquidation
(-)Expenses to recover
Others
Cost of services rendered to third parties
Construction costs
Gross Operating Income
Operating Expenses
Result of Service
Other operating revenues (expenses)
Shareholdings
Financial Result
Onerous Contracts
Other revenues/expenses
Operational Income
Social contribution
Income tax
Net income for the period
197,823
Total
Generation
665,360
218,793
09.30.12
Renewed
Unrenewed
transmission
transmission
649,602
Total
868,395
(35,673)
(49,603)
13,930
(80,018)
(13,560)
(54,246)
(554)
2,341
(13,999)
(145)
81,987
(14,367)
67,620
(170,072)
(159,710)
(2,619)
85
1,954
(9,782)
(5,969)
134,294
(157,089)
(22,795)
(14,592)
(12,711)
(1,264)
6
155
(778)
(2,882)
(52,255)
87,473
(30,474)
56,999
(35,673)
(49,603)
13,930
(264,682)
(185,981)
(54,246)
(4,437)
91
4,450
(24,559)
(8,996)
(52,255)
303,754
(201,930)
101,824
(109,622)
(115,954)
6,332
(17,411)
(2,706)
(7,379)
(6,168)
234
(1,392)
(19)
91,741
(1,203)
90,538
-
(163,319)
(157,591)
(2,959)
2,996
(5,765)
(6,984)
(52,159)
427,140
(125,288)
301,852
(109,622)
(115,954)
6,332
(180,730)
(160,297)
(7,379)
(9,127)
3,230
(7,157)
(7,003)
(52,159)
518,881
(126,491)
392,390
(19,568)
(84,094)
192,125
(2,866)
153,217
(15,861)
(43,509)
93,847
12,066
97,051
(4,721)
81,601
(6,383)
(17,510)
57,708
24,924
(46,669)
(2,279)
32,975
(739)
(2,027)
30,209
17,422
(33,712)
192,125
(9,866)
267,793
(22,983)
(63,046)
181,764
(10,626)
(1,214)
78,698
(6,115)
(16,462)
56,121
-
56,655
(143,506)
(10,929)
204,072
(15,858)
(42,686)
145,528
46,029
(144,720)
(10,929)
282,770
(21,973)
(59,148)
201,649
09.30.12
Renewed
Unrenewed
transmission
transmission
899,321
1,143,274
Generation
Net Operating Revenue
Operational cost
Electric energy cost
Electric energy purchased for resale
Provision (reversion) for losses on onerous contracts
Operational costs
Personnel, Material and Third party services
Depreciation and amortization
Provision for credits of questionable liquidation
(-)Expenses to recover
Others
Cost of services rendered to third parties
Construction costs
Gross Operating Income
Operating Expenses
Result of Service
Other operating revenues (expenses)
Shareholdings
Financial Result
Onerous Contracts
Other revenues/expenses
Operational Income
Social contribution
Income tax
Net income for the period
Net Operating Revenue
Parent Company
09.30.13
Renewed
Unrenewed
transmission
transmission
310,335
157,202
219,051
Consolidated
09.30.13
Renewed
Unrenewed
transmission
transmission
308,483
249,460
Total
Generation
776,994
243,953
Total
(35,673)
(49,603)
13,930
(93,808)
(15,602)
(64,407)
(554)
2,341
(15,586)
(145)
89,425
(16,214)
73,211
(170,072)
(159,710)
(2,619)
85
1,954
(9,782)
(5,969)
132,442
(157,089)
(24,647)
(16,454)
(14,516)
(1,264)
(106)
155
(723)
(3,331)
(94,345)
135,330
(34,374)
100,956
(35,673)
(49,603)
13,930
(280,334)
(189,828)
(64,407)
(4,437)
(21)
4,450
(26,091)
(9,445)
(94,345)
357,197
(207,677)
149,520
(109,622)
(115,954)
6,332
(39,256)
(5,406)
(24,320)
(6,168)
235
(3,597)
(19)
95,056
(4,369)
90,687
-
(163,140)
(158,917)
(2,840)
4,072
(5,455)
(6,984)
(210,269)
518,928
(129,273)
389,655
(109,622)
(115,954)
6,332
(202,396)
(164,323)
(24,320)
(9,008)
4,307
(9,052)
(7,003)
(210,269)
613,984
(133,642)
480,342
(20,915)
(87,568)
192,125
(2,866)
153,987
(16,053)
(44,087)
93,847
12,066
97,051
(4,721)
79,749
(6,383)
(17,510)
55,856
9,266
(67,657)
(2,276)
40,289
(1,755)
(4,660)
33,874
417
(58,174)
192,125
(9,863)
274,025
(24,191)
(66,257)
183,577
(6,923)
(5,793)
(704)
77,267
(5,702)
(15,301)
56,264
-
18,973
(180,027)
(11,235)
217,366
(19,078)
(50,901)
147,387
12,050
(185,820)
(11,939)
294,633
(24,780)
(66,202)
203,651
128
Marketletter
Cash Flow
(R$ thousands)
Parent Company
09.30.13
09.30.12
Operating Activities
Income before income tax, social contribution and
participations
Expenses (revenues) not affecting cash:
Revenue from Financial Assets
Amortization of financial assets
Depreciation and amortization
Amortization of investment fees
Monetary variation
Financing charges
Equity method result
Present value adjustment
Impairment
Provision for contingencies
Provision for credits of questionable liquidation
Special retirement complement/ actuarial liability
Provision for losses on onerous contracts
Early retirement Plan
Other
Sub total
Variations of operating assets
Consumers
Indemnization Credits linked to Law 12.783/13
Renegotiated energy credits - receivables
Taxes to compensate
Deferred fiscal asset
Stored materials
Collateral, deposits and linked funds
Other credits
Sub total
Variations of operating liabilities
Suppliers
Payment-roll
Income participation
Taxes and social contributions
Deferred fiscal liability
Estimated obligations
Complementary pension fund
Research and development
Other liabilities
Sub total
Operating activities cash
Financial charges paid
Financial charges receivable
Income tax and social contribution paid
Legal deposits
Net cash flow of operational activities
Investment Activities
Financing asset
Property
Intangible
Equity participation
Remuneration from equity participation
SPE incorporation
Others
Total of Investment Activities
Financing Activities
Loans and financing obtained
Resources for capital increase
Loans and financing –principal payment
Shareholders remuneration - payment
Payment of Pension Fund debt
Total of Financing Activities
Increase (decrease) in cash and cash equivalent
Consolidated
09.30.13
09.30.12
267,793
282,770
274,025
294,633
(20,957)
54,433
55,606
6,729
(12,860)
104,315
(17,422)
473
3,137
22,011
(112)
1,022
(206,055)
66,975
(18,544)
38,751
(335,435)
416,850
8,904
6,689
(7,015)
217,562
(46,029)
(2,263)
4,240
1,592
9,127
392
(6,332)
(9,623)
258,659
(67,389)
116,786
65,792
6,729
(12,179)
131,322
(417)
473
3,134
22,011
1,022
(206,055)
66,975
(18,544)
109,660
(431,067)
498,758
25,862
6,789
(4,562)
265,014
(12,050)
(2,263)
5,172
1,592
9,008
392
(6,332)
(19,584)
336,729
58,366
1,387,347
130,256
2,460
59,016
11,229
19,927
13,830
1,682,429
(57,887)
109,721
19,570
15,628
(187)
(81,378)
6,010
11,477
58,964
1,387,347
130,256
7,597
58,357
11,229
(22,518)
26,116
1,657,348
(60,528)
109,721
11,518
10,715
(187)
(80,475)
(5,762)
(14,998)
(40,654)
(8,329)
(28,530)
(113,454)
24,478
1,708
863
(27,023)
(190,941)
1,798,032
(143,767)
436
(27,749)
(24,161)
1,602,791
(66,948)
(20,997)
(33,470)
(13,970)
6,533
(9,398)
2,825
(4,786)
96,666
(43,545)
509,361
(105,308)
134
(46,127)
14,030
372,090
(36,171)
(8,195)
(28,530)
(112,652)
19,640
1,708
1,107
(26,691)
(189,784)
1,851,249
(177,246)
436
(31,362)
(24,161)
1,618,916
(66,373)
(21,063)
(33,470)
(3,519)
7,997
(9,328)
2,825
(4,287)
94,364
(32,854)
583,510
(141,231)
134
(57,468)
14,030
398,975
(52,255)
(127,771)
(449)
(990,863)
9,531
85,072
861
(1,075,874)
(52,159)
(361,259)
(1,158)
(597,220)
16,323
36
(995,437)
(94,345)
(124,257)
(449)
(975,863)
9,531
861
(1,184,522)
(210,269)
(388,170)
(1,158)
(542,386)
448
36
(1,141,499)
331,821
(151,581)
(88)
(8,121)
172,031
698,948
111,554
728,631
(74,380)
(258)
(10,398)
755,149
131,802
345,578
(175,451)
(88)
(8,121)
161,918
584,966
230,920
706,131
(103,417)
(2,383)
(10,398)
820,853
78,329
129
Marketletter
Parent Company
09.30.13
09.30.12
Cash and cash equivalent – beginning of period
Cash and cash equivalent – end of period
87,454
786,402
257,339
389,141
Consolidated
09.30.13
09.30.12
210,988
795,954
409,569
487,898
130
Marketletter
Analysis of the result
The Company had a net profit in 3Q13 61.7%, higher than in the previous quarter, from R$ 45.0 million in 2Q13 to R$ 72.8 million in 3Q13,
mainly due to the reversal of provisions for onerous contract in the amount of R$ 72.7 million and adjustment in the provision of the Early
Retirement Program (R$ 12.4 million).
Operating Revenue
Generation:
The supply of electricity increased by 4.9%, from R$ 66.0 million in 2Q13 to R$ 69.3 million in 3Q13, representing a normal variation for the
period.
The Revenue from electricity sales decreased by 71.3%, from R$ 20.0 million in 2Q13 to R$ 5.8 million in 3Q13, mainly due to increased
generation of electrical energy to supply CCAR contracts.
Transmission:
The Revenues from the transmission system (O&M revenue and financial assets) decreased by 2.6%, from R$ 175.9 million in 2Q13 to R$ 171.3
million in 3Q13, representing a normal variation for the period.
Cost of Electricity Service
The Electricity purchased for resale decreased by 73.6 % from R$ 17.2 million in 2Q13 to R$ 4.6 million in 3Q13, mainly due to the start-up of
new generation projects, which resulted in a reduced need for power purchase contracts to supply the regulated environment.
The Charges for use of the electricity grid increased by 108.9 % from R$ 1.6 million in 2Q13 to R$ 3.2 million in 3Q13 , main ly due to the
commercial operation of Eletrosul’s own electric power enterprises: SHU Santo Domingo and PCH Barra do Rio Chapéu.
The Depreciation and amortization increased by 31.6 % from R$ 21.2 million in 2Q13 to R$ 27.9 million in 3Q13, mainly due to the start-up of
the company’s projects.
Personnel expenses decreased by 50.6%, from R$ 158.1 million in 2Q13 to R$ 78.1 million in 3Q13, mainly due to two factors: a) in 2Q13 the
expenses for the Early Retirement Plan in the net amount of R$ 67.0 million were accrued, which did not happen again this time, and b) the
revision of this provision in the 3Q13 in the amount of R$ 12.4 million.
Materials expenses decreased by 16.1% from R$ 3.7 million in 2Q13 to R$ 3.1 million in 3Q13. The variation of R$ 0.6 million in this period is
considered normal.
Operating Revenue (expense)
Provisions for contingencies increased by 34.1%, from R$ 5.1 million in 2Q13 to R$ 6.8 million in 3Q13. The variation of R$ 1.7 million is
considered normal for the period.
Provisions for losses decreased by 528.7%, from an expense of R$ 0.2 million in 2Q13 to a reversion of R$ 0.6 million in 3Q13. The variation of
R$ 0.8 million relates to receiving/write-off of part of the existing provision, and this variation is normal for the period.
Provisions for Onerous Contracts decreased 28.6% from a reversal of R$ 101.9 million in 2Q13, to a reversal of R$ 72.7 million in 3Q13, mainly
due to the variation recorded in the provision of SHU Jirau between 12.31.2012 and 09.30.2013, resulting from changes in the value of the PLD
historical average.
Financial Results
Financial revenues increased 11.9%, from R$ 65.5 million in 2Q13 to R$ 73.2 million in 3Q13, mainly due to R$ 10,100 received from financial
revenue as a nonrefundable contribution provided by the financing agreement with KFW for PCH São Bernardo construction.
Financial expenses increased 17%, from R$ 89.4 million in 2Q13 to R$ 104.7 million in 3Q13, mainly due to the restatement of AFACs (Advances
for future capital increase) from Eletrobras in the amount of R$ 15.4 million for the period.
131
Marketletter
Market Data
1.Generation Assets and Energy generated
1.1.Own assets
Plant
Installed
Capacity
MW
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
77.0
177.9
48.0
15.15
19.0
30
30
30
Guaranteed
energy MW
Average
Energy generated MWh
1Q13
41.1
96.9
36.0
8.61
10.14
11
11
11
2Q13
3Q13
107,336.540
207,264.842
13,061.070
79,595.725
201,572.260
8,719.180
22,739.498
-
6,544.100**
6,821.900**
6,711.600**
80,069.432
199,705.930
67,521.340
17,231.026
15,123.698
28,663.500
29,834.900
29,167.600
* Mauá Consortium (49% Eletrosul). The figures relate to the company's participation in the venture
** Incorporated in May 2013 refers to the energy generated from the month of June as own asset
Plant
Location (State)
Beginning of Operation
End of Operation
HPP Passo São João
RS
Jul/12
Aug/41
HPP Mauá*
PR
Nov/12
Jul/42
HPP São Domingos
MS
Jun-13
Dez-37
SCH Barra do Rio Chapéu
SC
Feb/13
Dec/35
SCH João Borges
SC
Jul/13
Dec/35
* Mauá Consortium (49% Eletrosul)
1.2.SPE
Installed
Capacity
MW
Guaranteed
energy MW
Average
Energy generated MWh
SPE
Plant
Eólica Cerro Chato
I
Cerro Chato I Wind Power
Plant
30
11
21,398.700
12,749.900*
Eólica Cerro Chato
II
Cerro Chato II Wind Power
Plant
30
11
21,564.400
13,769.000*
Eólica Cerro Chato
III
Cerro Chato III Wind Power
Plant
30
11
21,839.200
13,176.500*
1Q13
2Q13
3Q13
* incorporated in May 2013 refers to the energy generated through the month of May as SPE
Plant
Participation
%
Cerro Chato I Wind Power Plant
100.00
Cerro Chato II Wind Power
Plant
Cerro Chato III Wind Power
Plant
Location
(State)
Beginning of
Operation
End of
concession
RS
Nov/11
Aug/45
100.00
RS
Sep/11
Aug/45
100.00
RS
May/11
Aug/45
132
Marketletter
2.Electric energy purchased for resale
2.1.Own assets
System
Unit
1Q13
MWh
R$ million
MWh
R$ million
MWh
R$ million
Eletrobras
Others
Total
2Q13
102,541.000
33.5
102,541.000
33.5
3Q13
78,795.600
22.5
78,795.600
22.5
17,220.000
3.22
17,220.000
3.22
2.2.SPE – NA
3.Energy sold
3.1.Own assets
Buyer
Sale
model
A
B
A
B
A
B
Eletrobras System
Others
Total
1Q13
R$ million
MWh
2Q13
3Q13
R$ million
MWh
R$ million
MWh
66.80
396,476.934
74.90
410,724.920
75.00
465,188.460
66.80
396,476.934
74.90
410,724.920
75.00
465,188.460
A - Through auction
B - Through free market agreements or bilateral contracts
3.2.SPE
Buyer
Eletrobras
System
Others*
Total
Sale
model
A
B
A
B
A
B
1Q13
2Q13
3Q13
R$ million
MWh
R$ million
MWh
R$ million
MWh
10.93
72,290.000
9.65
48,180.000
-
-
10.93
72,290.000
9.65
48,180.000
-
-
* Incorporated in May 2013, refers to the energy generated until May, as a SPE
4.CCEE settlement (Spot and MRE – Regulated Market)
Unit
Sale
Purchase
Net
R$ million
MWh
MWaverage
R$ million
MWh
MWaverage
R$ million
MWh
MWaverage
1Q13
2Q13
3Q13
4.83
42,169.618
19.514
(1.90)
12,138.236
5.617
3.00**
3,952.970
1.829
4.83
42,169.618
19.514
(1.90)
12,138.236
5.617
3.00**
3,952.970
1.829
* Includes the energy generated for tests.
** Does not consider the September/2013 registration, due to the CCEE schedule.
5. Fuel used to produce electricity- NA
6. Losses in generation - % - NA
133
Marketletter
7.Average price– R$/MWh
7.1.Own assets
1Q13
2Q13
3Q13
137.80
147.73
159.38
1Q13
2Q13
3Q13
151.19
151.19
-
7.2.SPE
8.Extension of transmission lines – Km
8.1.Own assets
8.1.1.Transmission lines
From - To
Biguaçu – 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 / Garibalde
Sub-Total 230 kV
Gran Total
Extension
(km)
Tension
(kV)
Beginning of
Operation
End of concession
359.0
168.5
203.4
260.0
990.9
22.0
22.0
237.4
33.3
270.7
1,283.6
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
134
Marketletter
8.1.1.2.Transmission lines
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
Ivaiporã Eletrosul - Ivaiporã Furnas
Salto Santiago -Salto Santiago
Salto Santiago -Segredo
Areia -Gov. Bento Munhoz
Areia -Gov. Bento Munhoz
Sub-Total 525 kV
Anastácio - Dourados
Areia - Ponta Grossa Norte
Areia - Salto Osório
Areia - Salto Osório
Areia - São Mateus do Sul
Assis - Londrina Copel
Biguaçu – Desterro
Biguaçu –Palhoça
Blumenau –Jorge Lacerda B
Biguaçu – Blumenau 2
Blumenau - Itajaí
Blumenau - Itajaí
Blumenau - Joinville
Blumenau - Joinville
Blumenau - Palhoça
Campo Mourão - Apucarana
Campo Mourão -Maringá
Campo Mourão -Salto Osório
Campo Mourão -Salto Osório
Canoinhas -São Mateus do Sul
Cascavel -Cascavel D'Oeste
Cascavel D'Oeste -Guaíra
Caxias - Caxias 5
Curitiba -Joinville Norte
Joinville – Joinville Norte
Curitiba -Joinville
Curitiba -São Mateus do Sul
Dourados -Guaíra
Farroupilha -Caxias 5
Monte Claro – Passo Fundo
Farroupilha -Monte Claro
Farroupilha -Monte Claro2
Monte Claro – Nova Prata
Jorge Lacerda A -Jorge Lacerda
Jorge Lacerda - Palhoça Jorge Lacerda - Siderópolis
Jorge Lacerda - Siderópolis
Extension
(km)
Tension
(kV)
Beginning of
Operation
End of
concession
220.3
176.3
235.2
173.2
57.8
136.3
44.8
203.3
78.8
256.0
33.5
314.8
29.0
64.6
186.8
121.9
167.0
0.8
0.8
0.7
60.9
2.1
10.7
10.9
2,586.5
210.9
181.6
160.5
160.3
129.0
114.3
56.6
20.4
116.4
129.5
37.6
37.6
67.0
72.9
133.9
114.5
79.9
181.2
181.3
47.7
9.9
126.2
22.0
96.4
5.3
99.7
116.7
226.5
17.9
211.5
31.0
31.0
30.9
0.8
121.3
49.4
47.3
525
525
525
525
525
525
525
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
Sep-82
Feb-92
Jun-04
Aug-92
Aug-92
Sep-80
Aug-81
Dec-42
Dec-42
Dec-42
Dec-42
Dec-42
Dec-42
Dec-42
Dec-42
Dec-42
Dec-42
Dec-42
Dec-42
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
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
May-79
Dec-08
Oct-08
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
Apr/01
Jun/09
Nov/76
Nov/76
Jun/77
Jul/90
Nov/91
Oct/05
Sep/04
Sep/04
Sep/04
Sep/04
Dec/79
Aug/05
Jun/79
Aug/79
Dec-42
Dec-42
Dec-42
Dec-42
Dec-42
Dec-42
Dec-42
Dec-42
Dec-42
Dec-42
Dec-42
Dec-42
Dec-42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
135
Marketletter
From - To
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
Siderópolis - Lajeado Grande
Lajeado Grande - Caxias 5
Xanxerê - Pato Branco
Joinville - Vega do Sul
Joinville - Vega do Sul
Gravataí 2- - Gravataí 3
Complexo Industrial Automotivo Gravataí Gravataí 3
Jorge Lacerda A - Jorge Lacerda B 2
Jorge Lacerda B - Jorge Lacerda C 1
Jorge Lacerda B - Jorge Lacerda C 2
Atlântida 2/Gravataí 3
Sub-Total 230 kV
Blumenau - -Ilhota
Campo Grande - Mimoso
Biguaçu – Camboriú – Morro do Boi
Biguaçu – Florianópolis
Campo Grande - Mimoso
Campo Grande - Mimoso
Dourados das Nações - Ivinhema
Eldorado - Guaíra
Florianópolis - Itajaí Fazenda
Florianópolis - Palhoça 1
Florianópolis - Palhoça 2
Gaspar - -Blumenau
Ilhota - Picarras
Ilhota - Itajaí 1
Ilhota - Itajaí 2
Ilhota - Joinville
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
Jupiá - Mimoso
Jupiá - Mimoso
Palhoça - Imbituba
Anastácio - Aquidauana
Anastácio - Aquidauana
Dourados/Dourados 2
Sub-Total 138 kV
Conversora de Uruguaiana -Passo de Los Libres
Salto Osório - Salto Santiago
Sub-Total (132 e 69 kV)
Gran total
Extension
(km)
Tension
(kV)
Beginning of
Operation
End of
concession
156.6
95.1
40.4
31.6
36.0
199.1
79.3
79.2
0.45
0.45
85.9
162.0
2.3
121.9
65.6
79.6
44.9
44.9
3.5
230
230
230
230
230
230
230
230
230
230
230
230
230
230
230
230
230
230
230
May/05
May/05
Apr/88
Apr/88
May/07
Nov/92
May/75
Nov/79
Mar/73
May/73
Dec/79
Oct/75
Nov/75
Sep/03
Oct/05
Dec/79
Nov/02
Nov/02
Nov/07
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
3.5
230
Dec/07
Dec/42
1.0
0.5
0.5
102.0
4,913.2
40.2
108.3
50.3
19.5
108.3
108.3
94.7
16.9
71.1
9.6
9.6
20.7
14.8
7.9
7.9
75.8
13.3
5.4
91.0
45.7
108.6
11.0
50.0
218.7
218.7
218.7
74.0
11.1
11.1
0.1
1,841.3
12.5
56.2
68.7
9,409.7
230
230
230
230
Oct/07
Feb/97
Feb/97
Apr/08
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
138
138
138
138
138
138
138
138
Oct/88
Oct/83
Feb/02
Feb/02
Sep/83
Sep/83
Dec/83
Oct/82
Oct/90
Nov/83
Nov83
Sep/89
Apr/94
Mar/02
Jan/02
Jan/67
Fev/02
Mar/02
Mar/82
Oct/80
Oct/83
Oct/99
Oct/99
Feb/92
Jan/82
Jan/82
Oct/83
Nov/06
Nov/06
Jun/07
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
Dec/42
132
69
Sep/94
Oct/78
Dec/42
Dec/42
136
Marketletter
8.1.2.Substations
Transformation
capacity
Substations
SE – Missões
SE – Biguaçu/Blumenau/Campos Novos
SE – Foz do Chapecó
SE – Caxias 6
SE – Ijuí 2
SE – Lageado Grande
SE – Nova Petrópolis 2
SE – Coletora Porto Velho
Total
Location
Beginning of
operation
End of
operation
RS
SC
RS
RS
RS
RS
RS
RO
Nov-10
Apr-08
Dec-12
Aug-12
Apr-13
Nov-12
Nov-12
Aug-12
Jan-39
Mar-35
Oct-40
Oct-40
Oct-40
Oct-40
Oct-40
Feb-39
150 MVA
1,344 MVA
100 MVA
330 MVA
300 MVA
83 MVA
166 MVA
800 MVA
3,273 MVA
8.1.2.3.Indemnified Substations
Substations
Transformation capacity
Location
End of
operation
2,466
2,016
2,016
2,016
1,962
1,344
1,344
1,344
300
691
672
600
525
400
384
375
364
336
300
300
249
215
168
166
165
150
150
110
100
365
21,593
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
-
Dec-42
Dec-42
Dec-42
Dec-42
Dec-42
Dec-42
Dec-42
Dec-42
Dec-42
Dec-42
Dec-42
Dec-42
Dec-42
Dec-42
Dec-42
Dec-42
Dec-42
Dec-42
Dec-42
Dec-42
Dec-42
Dec-42
Dec-42
Dec-42
Dec-42
Dec-42
Dec-42
Dec-42
Dec-42
Dec-42
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
Frequency converter - Uruquaiana
SE - Ilhota
Other substations
Total
8.2.SPEs
SPE
Etau
Uirapuru
From - To
TL (Campos Novos (SC) – Barra Grande
(SC) – Lagoa Vermelha (RS) – Santa
Marta (RS))
TL (Ivaiporã (PR) – Londrina (PR))
Extension
(km)
Tension
(kV)
Beginning of
Operation
End of
concession
187
230
Jul/05
Dec/32
120
525
Jul/06
Mar/35
9.Transmission losses - % - NA
137
Marketletter
10.Main investments of parent company– R$ million
Project
Generation
Installation of Hydro Complex São Bernardo
Installation of Hydro Unit Maua
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
Brazil-Uruguay-Electric Interconnection (Eletrosul Activities)
Maintenance of electric energy transmission system
Others
Total
1Q13
2Q13
3Q13
2013
budget
27.7
11.6
5.7
9.2
0.5
-
107.7
16.6
82.6
7.5
0.3
51.7
15.3
3.8
29.0
2.5
0.2
355.4
55.5
155.5
47.5
8.5
48.7
0.7
0.7
0.9
35.0
10.2
6.7
1.0
2.5
0.7
38.6
19.9
14.2
1.5
4.2
0.7
128.6
40.8
23.6
16.5
0.7
0.9
93.4
4.7
149.2
80.7
48.0
20.5
52.0
1,061.2
11.New investments
11.1.Generation
11.1.1.Own assets
Unit -Own
assets
PCH Santo
Cristo
PCH
Coxilha
Rica
Total of
investment
R$ million
Invest. up
to 3Q13
R$ million
Installed
capacity MW
Guaranteed
energy
Beginning of
operation
SC
133.2
10.54
19.5
10.2
Dec/14
Aug/13
Nov/37
SC
160.2
9.86
18.0
10.0
-
Aug/13
Feb/37
Location
(State)
Beginning
End of
of
concession
construction
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
Invest.
up
to3Q13
R$
million
Installed
capacity
MW
Guaranteed
energy
Beginning of
operation
Beginning of
construction
End of
concession
16,128.9
15,795.48
3,750 MW
2,184.6 MW
09/13
Dec/09
Aug/43
MT
4,257.8
2,718.33
1,820 MW
915.4 MW
Sep/14
Aug/11
Dec/46
49
RS
565.3
132.4
144 MW
59.8 MWm
Sep/14
Jan/13
Mar/47
49
RS
290.3
256.8
78 MW
38.5 MWm
Oct/13
Jan/12
Feb/47
49
RS
983.8
416.6
258 MW
109.0 MWm
May/14
Nov/12
Mar/47
Unit
Participation
%
Location
(State)
HEU Jirau*
20
RO
HEU Teles
Pires
24.5
Chuí I to V
Wind Power
Plant,
(98MW) and
Minuano VI
and VII
(46MW).
Cerro Chato
IV, V, VI
Wind Power
Plant,
Ibirapuitã
and
Trindade
Geribatu I to
X Wind
Power Plant
Total of
investment
R$ million
*in test fase
138
Marketletter
11.2.Transmission
11.2.1.Own assets
11.2.1.1.Transmission lines
Own lines
From - To
Secc. TL JLA – PAL, SE
Garopaba
Secc. TL JLA – PAL, SE
Palhoça - Pinheira
TL Passo Fundo - Monte
Claro 230Kv
Total of
investment
R$ million
Invest. up to
3Q13 R$
million
Extension
of lines - KM
Tension
(kV)
7.61
0.64
5.4
138
5.33
0.81
3.7
138
9.93
1.85
11.0
230
Beginning of
operation
Prev.
Nov-13
Prev.
Sep-13
Prev.
Oct-13
End of
concession
Dec-42
Dec-42
Dec-42
11.2.1.2.Substations
Substation
SE Garopaba –Implementation of
two EL phases
SE Pinheira – Implementation of
two EL phases
SE Nova Prata 2 – Implementation
of two EL phases
SE Joinville Norte - Extension “C”–
230/138/ kV
SE Nova Santa Rita –extension F
525/230-13,8 KV 672MVA
SE Itajaí –Extension E -230/13813,8 KV 75MVA
SE Joiville Norte – Extension D
Installation of 2 capacitors 230kV –
2x100MVA
SE – Foz do Chapecó Extension B
3 Trafo - 230/138kV
Total of
investment
R$ million
Invest. up to
Transformation
3Q13 R$
capacity
million
Location
6.24
0.35
0.00
SC
4.64
2.10
0.00
SC
10.47
1.04
0.00
RS
12.25
10.20
300.00
SC
29.69
10.90
2,016
RS
7.12
0.18
525
RS
12.07
0.28
300
SC
7.58
0.02
100
RS
Interconnection Brasil – Uruguai
52.56
21.3
0.00
RS
SE Alegrete–Transf. trafo 69/13,8/13,8kV 17MVA
7.78
0.23
66
RS
Beginning
of
operation
Prev.
Nov-13
Prev.
Sep-13
Prev.
Oct-13
Prev.
Oct-13
Prev.
Dec-13
Prev.
Nov-14
Prev.
Feb-15
Prev.
May-15
Prev.
Jan-14
Prev.
Dec-14
End of
concession
Dec-42
Dec-42
Dec-42
Dec-42
Dec-42
Dec-42
Dec-42
Jun-41
Dec-42
Dec-42
139
Marketletter
11.2.2.SPEs
11.2.2.1.Transmission lines
SPE
Norte Brasil
Costa Oeste
Marumbi
Transmissora
Sul Brasileira
de Energia SA
Transmissora
Sul Litorânea
de Energia
S/A
From - To
Participation
%
Total of
investment
R$ million
Invest. up
to3Q13
R$ million
24.5
2,418.00
2,125.24
2,375
+ 600
Sep-13
Feb-39
49
50.87
10.64
143
230
Jan-14
Jan-42
20
52.38
6.00
28
525
May-14
Apr-42
140
230
163
230
Dec-13
Apbr-42
190
525
305
525
281
525
154
525
Dec-13
Jul-42
52
525
TL Coletora Porto
Velho (RO) –
Araraquara 2 (SP),
em CC
TL Cascavel Oeste
– Umuarama, CS
TL 525 KV Curitia Curitiba Leste (PR)
TL de 230KV
140KmNova Santa
Rita – Camaquã
TL 230KV 163Km
Camaquã – Quinta
TL
525 KV 190 Km
Salto Santiago – Itá
TL 525KV 305 Km
Itá – Nova Santa
Rita
TL Nova santa Rita
– Povo Novo, CS
TL Povo Novo –
Marmeleiro, CS
TL Marmeleiro –
Santa Vitória do
Palmar
80
439.50
51
449.57
Extension
Beginning
Tension
End of
of lines of
(kV)
concession
KM
operation
312.40
174.08
11.2.2.2. Substations
Substations
Substation Umuarama
230/138 kV – 2X150
MVA, Lot E auction
ANEEL 004/2011
SE Curitiba Leste
1 banco 3x224MVA
525/230kV
SE Povo Novo525/230
kV, 672 MVA (4
monophasic units 224
MVA)
SE Marmeleiro 525 kV Synchronous
Compensator ±200
Mvar
SE Santa Vitória do
Palmar 525/138 kV, 75
MVA (1 three-phase
unit)
SE Camaquã 3
230/69Kv 2x83MVA
Total of
investment
R$ million
Invest. up to
3Q13 R$ million
Transformation
capacity
Location
Beginning of
operation
End of
concession
22.98
11.22
300 MVA
PR
Jan/14
Jan/42
52.42
6.38
672 MVA
PR
May/14
Apr/42
131.20
45.23
672 MVA
RS
Dec/13
Jul/42
39.50
13.62
200 MVA
RS
Dec/13
Jul/42
14.64
5.05
75 MVA
RS
Dec/13
Jul/42
89.57
63.66
249MVA
RS
Dec/13
Apr/42
140
Marketletter
12.Loans and financing – R$ million
Local currency – LC
Creditor
Balance
03.31.13
BRDE
BNDES
Banco do Brasil
Eletrobras
26.5
774.4
217.3
1,179.8
Balance
06.30.13
Balance
09.30.13
25.8
1,186.3
410.3
1,171.6
24.9
1,172.7
399.1
1,190.0
Due Date
Index
05/15/2019
01/15/2028
01/15/2028
03/30/2030
TJLP + 4.5% py
Currency basket + 4% py
TJLP + 2.65% py
RGR + interest
Foreign currency – FC
Balance
03.31.13
Creditor
Eletrobras
Balance
06.30.13
34.5
Balance
09.30.13
38.3
Due Date
179.9
Currency
12/30/2038
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
2013
2014
2015
2016
2017
After 2017
100.4
47.5
52.9
100.4
58.2
42.2
291.0
137.7
153.3
291.0
136.7
154.3
291.0
137.7
153.3
291.0
136.7
154.3
237.9
112.6
125.3
237.9
83.6
154.3
245.9
116.4
129.5
245.9
91.6
154.3
1,800.4
852.0
948.4
1,800.4
863.1
937.3
13.1.2.SPE – R$ million
Loans and financing
By activity
Generation
Transmission
By creditor
BRDE
2013
2014
2015
2016
2017
After 2017
1.9
5.8
5.9
5.9
5.9
7.3
1.9
1.9
1.9
5.8
5.8
5.8
5.9
5.9
5.9
5.9
5.9
5.9
5.9
5.9
5.9
7.3
7.3
7.3
2015
2016
2017
13.2.Energy purchase
13.2.1.Parent Company
Energy Purchase
Contracts
Regulated Market
Bilateral Contracts
Total
Unit
MWh
R$ million
MWh
R$ million
MWh
R$ million
2013
2014
185,077.00
24.985
105,120.00
14.191
105,120.00
14.191
5,472.00
0.739
185,077.00
24.985
105,120.00
14.191
105,120.00
14.191
5,472.00
0.739
After 2017
141
Marketletter
13.2.2.SPE
Energy Purchase
Contracts
Regulated Market
Bilateral Contracts
Total
Unit
2013
MWh
R$ million
MWh
R$ million
MWh
R$ million
2014
2015
2016
902,021.32
136.446
1,822,763.28
285.663
1,400,312.96
282.234
1,240,819.06
202.180
902,021.32
136.446
1,822,763.28
285.663
1,400,312.96
282.234
1,240,819.06
202.180
2017
1,240,011.14
191.649
After 2017
23,128,334.93
3,372.272
1,240,011.14 23,128,334.93
191.649
3,372.272
13.3.Energy sale
13.3.1.Parent Company
Energy Purchase
Contracts
Regulated Market
Bilateral Contracts
Total
Unit
MWh
R$ million
MWh
R$ million
MWh
R$ million
2013
2014
2015
2016
2017
1,463,620.80
232.791
1,463,620.80
232.791
1,463,620.80
232.791
1,463,620.80
232.791
1,467,620.80
232.791
After 2017
33,654,518.40
5,355.266
1,463,620.80 1,463,620.80 1,463,620.80 1,463,620.80 1,467,620.80 33,654,518.40
232.791
232.791
232.791
232.791
232.791
5,355.266
13.3.2.SPE
Energy Purchase
Contracts
Regulated Market
Bilateral Contracts
Total
Unit
MWh
R$ million
MWh
R$ million
MWh
R$ million
2013
2014
2015
2016
2017
1,844,974.61
231.649
4,389,855.29
548.187
6,585,987.24
691.438
6,814,835.26
702.220
6,809,452.70
691.388
After 2017
155,587,765.25
14,922.402
1,844,974.61 4,389,855.29 6,585,987.24 6,814,835.26 6,809,452.70 155,587,765.25
231.649
548.187
691.438
702.220
691.388
14,922.402
Values proportional to the company's participation in the HEU’s Teles Pires and Jirau
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
1Q13
2Q13
3Q13
9
9
1
19
12
13
2
2
1
30
11
10
1
1
1
24
142
Marketletter
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
1Q13
2Q13
3Q13
157
233
126
206
134
856
146
235
125
202
135
843
124
241
142
187
133
827
1Q13
2Q13
3Q13
220
113
41
175
121
670
210
121
41
174
122
668
192
128
51
162
119
652
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
Number of employees
2Q13
1Q13
Santa Catarina
Rio Grande do Sul
Paraná
Mato Grosso do Sul
Rondônia
1,116
168
166
69
26
3Q13
1,113
167
167
68
26
1,097
155
164
61
26
14.3.By departments
Departments
1Q13
Field
Administrative
Number of employees
2Q13
875
670
3Q13
873
668
851
652
15.Complementary work force- NA
16.Turn-over
1Q13
2Q13
3Q13
0.03
0.19
1.26
143
Marketletter
Balance Sheet
(R$ thousands)
Assets
Current Assets
Cash and banks
Clients
Taxes to recover
Acquisition of fuel to be recovered - Energetic development account - CDE
Stored materials
Other credits
Non-Current Assets
Taxes to recover
Deposits linked to legal suits
Property, plant and equipment
Intangibles
Total Assets
09.30.13
12.31.12
6,278
72,033
22,735
34,957
100,201
6,818
243,022
26,795
85,635
13,546
64,176
75,680
4,391
270,223
9,989
11,776
21,765
9,989
10,927
20,916
1,641,965
1,679
1,665,409
1,908,431
1,658,058
1,819
1,680,793
1,951,016
144
Marketletter
Liabilities and Stockholders’ Equity
Current Liabilities
Suppliers
Loans and financing
Taxes and social contributions
Estimated obligations
Sector charges
Provision for risks
Retirement benefits
Shareholders remuneration
Others
Non-Current Liabilities
Loans and financing
Retirement benefits
Resources for capital increase
Provision for actuarial liabilities
Stockholders’ Equity
Social Capital
Income reserve
Other comprehensive income
Accrued income (losses)
09.30.13
202,904
199,469
8,839
18,836
20,959
23,201
36,367
58,324
20,747
589,646
265,967
190,527
12,539
13,542
15,359
21,096
119
55,152
12,119
586,420
1,116,862
3,615
148,664
122,914
1,392,055
1,981,701
870,507
16
160,949
122,914
1,154,386
1,740,806
845,510
2,596
(146,015)
(775,361)
770,815
2,596
(146,015)
(417,186)
210,210
1,951,016
(73,270)
Total Liabilities and Stockholders’ Equity
12.31.12
1,908,431
145
Marketletter
Statement of Income
(R$ thousands)
09.30.13
Net Operating Revenue
Operational cost
Cost of electric energy services
Electric energy purchased for resale
Charges on the use of electric grid
Operational cost
Personnel, material and third party services
Depreciation and amortization
Raw material for production of electric energy
(-) Expense recuperation – fuel subvention
Other expenses
Gross operating result
Operating expenses
Service results
Other revenues/expenses
Financing results
Operational result before fixed asset adjustment
Net income for the period
183,525
(398,120)
(151,106)
(131,857)
(19,249)
(247,014)
(180,632)
(53,150)
(135,072)
127,097
(5,257)
(214,595)
(87,719)
(302,314)
942
(56,803)
(358,175)
(358,175)
09.30.12
399,053
(459,541)
(213,103)
(195,952)
(17,151)
(246,438)
(172,165)
(55,325)
(119,617)
105,689
(5,020)
(60,488)
(41,979)
(102,467)
1,433
(112,472)
(213,506)
(213,506)
146
Marketletter
Cash Flow
(R$ thousands)
09.30.13
Operating Activities
Result before taxes
Net income (loss) for the period
Adjustments for:
Depreciation and amortization
Write-off of fixed intangible assets
Financing exchange
Monetary and net exchange variations
Provision for contingencies
Variations:
(Increase)
(Increase)
(Increase)
(Increase)
(Increase)
(Increase)
(Increase)
(Increase)
(Increase)
(Increase)
(Increase)
(Increase)
/
/
/
/
/
/
/
/
/
/
/
/
decrease
decrease
decrease
decrease
decrease
decrease
decrease
decrease
decrease
decrease
decrease
decrease
in
in
in
in
in
in
in
in
in
in
in
in
open market application
clients
refundable taxes
law suit deposits
reimbursement rights
stored material
other assets
suppliers
taxes and social contributions to collect
estimated obligations
sectorl charges
other liabilities
Operating activities – net cash
Investment Activities
Acquisition of property, plant and equipment
Acquisition of intangible assets
Investment Activities – net cash
Financing activities
Capital increase - receivables
Loans and financing - receivables
Loans and financing - amortization
Shareholders remuneration - payables
Acquisition of own shares
Financing activities- net cash
Net increase (decrease) in cash and cash equivalents
Initial cash balance
Final cash balance
Net increase (decrease) in cash and cash equivalents
09.30.12
(358,175)
(358,175)
(213,506)
(213,506)
57,839
173
1,990
30,549
2,105
92,656
60,354
864
38,699
58,515
5,790
164,222
13,602
(9,189)
(849)
29,219
(24,521)
(2,427)
(63,063)
(3,700)
5,294
5,600
48,474
(1,560)
(267,079)
66,120
(7,915)
17,861
(3,350)
(15,793)
(439)
(2,757)
57,287
(11,315)
(5,821)
760
2,437
97,075
47,791
(41,709)
(70)
(41,779)
(51,401)
(204)
(51,605)
60,395
353,180
(125,234)
288,341
(20,517)
6,278
26,795
(20,517)
25,000
77,788
(95,369)
(10)
(28)
7,381
3,567
8,207
4,640
3,567
147
Marketletter
Analysis of the result
The company presented in 3Q13 a loss of R$ 78.5 million, compared to a loss of R$ 91.5 million in 2Q13, representing a decrease of 14.2%, due
to the greater impact in 2Q13, of cancellations of revenues, by applying generation standards inferior to inflexibility or be low ONS dispatches, due
to the unavailability of the power generation equipment.
Operating Revenue
The electricity supply in 3Q13 presented the amount of R$ 79.3 million, and the amount of R$ 72.7 million in 2Q13, representing a variation of
9.1%.
Cost of electricity Service
The Electricity purchased for resale presented, in 3Q13, the amount of R$ 9.6 million, while in 2Q13 it was R$ 0.3 million, representing an
increase of 3,100.0 %, due to less energy purchased in 2Q13 due to higher revenue cancellation in the period.
Charges for use of the grid presented in 3Q13 the amount of R$ 7.0 million, whereas in 2Q13 it was R$ 6.2 million, representing an increase of
12.9%.
The fuel for electric power production presented in 3Q13 the amount of R$ 41.2 million, whereas in 2Q13 it was R$ 43.5 million, representing a
variation of -5.3 %. The reduction in fuel consumption was due to lower production in 3Q13.
Depreciation and Amortization presented in 3Q13 the amount of R$ 17.5 million, whereas in 2Q13 it was R$ 18.2 million, representing a decrease
of 3.8 %, resulting from the termination of the useful life of depreciable equipment.
Personnel expenses presented in the 3Q13 the amount of R$ 24.7 million, whereas in 2Q13 it was R$ 20.0 million, representing an increase of
23.5%, due to higher wages determined by the 2013/2014 general agreement and expenses with the Early Retirement Program (PID).
Materials expenses presented in the 3Q13 the amount of R$ 20.2 million, whereas in 2Q13 it was R$ 22.5 million, representing a decrease of
10.2%, due to less consumption of lime, which is used for the operation of Candiota III (Phase C).
Third-party services presented in 3Q13 the amount of R$ 25.7 million, whereas in 2Q13 it was R$ 11.7 million, representing an increase of
119.7%, due to higher maintenance and conservation expenses to upkeep machinery and production equipment.
Other operating costs recorded the amount of R$ 3.9 million in 3Q13 and R$ 4.4 million in 2Q13, a decrease of 11.4%.
Operating Expenses
Personnel expenses presented in 3Q13 the amount of R$ 11.0 million and in 2Q13 the amount of R$ 47.6 million, 76.9% lower, due to the
provision for the Early Retirement Program (PID) in June 2013.
Depreciation and Amortization presented in 3Q13 the amount of R$ 0.3 million and R$ 0.3 million in 2Q13, representing no variations.
Other Operating Expenses presented in 3Q13 the amount of R$ 2.0 million, and R$ 10.8 million in 2Q13, representing a decrease of 81.5%. The
major expenditures in this group are made up of provisions for law suits in the amount of R$ 1.0 million, ANEEL Inspection Fee in the amount of
R$3.0 million and PLR of R$ 8.4 million. This last expense occurred in 2Q13.
Financial Results
The net financial result presented in 3Q13 showed an expense in the amount of R$ 23.0 million and in 2Q13 the amount of expenses recorded
was R$ 7.6 million, representing an increase of 202.6%. This is primarily due to the increase in the charges on the Company’s debt.
148
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
292.000
12.600
6.100
573.700
Location
(State)
Unit
Energy generated MWh
1Q13
2Q13
3Q13
300,470
618,460
7,260
926,190
220,167
503,545
5,848
729,560
160,269
502,163
6,261
668,693
Beginning of operation
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
1Q13
MWh
R$ million
MWh
R$ million
MWh
R$ million
2Q13
130,404.00
42.57
130,404.00
42.57
3Q13
78,288.00
23.17
78,288.00
23.17
121,440
21.81
30,504
3.72
151,944
25.53
3. Energy sold
Buyer
Eletrobras System
Others
Total
Sale
model
A
B
A
B
A
B
1Q13
R$
million
148.90
148.90
-
2Q13
MWh
933,070.96
933,070.96
-
R$ million
151.23
151.23
-
3Q13
MWh
R$ million
MWh
929,672.47
929,672.47
-
A - Through auction
B - Through free market agreements or bilateral contracts
149
Marketletter
4. CCEE settlement (Spot and MRE)
Unit
1Q13
R$ million
MWh
MWaverage
R$ million
MWh
MWaverage
R$ million
MWh
MWaverage
Sale
Purchase
Net
24.34
75,995.480
35.17
24.34
75,995.480
35.17
2Q13
3Q13
13.08
33,821.473
15,486
13,08
33,821.473
15.486
5.30
43,448.373
19,894
5.30
43,449.373
19.894
5. Fuel used to produce electricity
Type
Unit
Fuel oil
Diesel Oil
Coal
T
L
T
Amount
1Q13
9,104.220
5,700.00
931,885.25
2Q13
R$
Amount
9,630,420.08
39,721,564.15
6,262.84
15,200.00
778,733.35
R$
Amount
7,353,826.73
31,135.68
38,788,294.30
6,585
41,300
654,905
3Q13
R$
6,048,455.98
51,092.50
29,670,331.81
6. Losses in generation - %
1Q13
2Q13
3Q13
13.88
14.21
13.52
7. Average price– R$/MWh
1Q13
2Q13
159.58
3Q13
162.48
147.46
8. Extension of transmission lines - Km - NA
9. Transmission losses - % - NA
10. Main investments of parent company– R$ million
Project
Generation
Generation system maintenance - MSGEE
Environmental impact mitigation
Phase A/B UPME revitalization
Other
Total
1Q13
27
1
4
32
2Q13
3Q13
2013 budget
3
1
4
1
9
1
9
10
71
61
44
4
180
11.New investments – NA
150
Marketletter
12.Loans and financing – R$ million
Local currency – LC
Balance
03.31.13
Creditor
Eletrobras
Eletrobras
Eletrobras
Eletrobras
Eletrobras
Eletrobras
Eletrobras
Eletrobras
Eletrobras
Eletrobras
Eletrobras
Eletrobras
Eletrobras
Eletrobras
Eletrobras
Eletrobras
Eletrobras
Eletrobras
Eletrobras
Eletrobras
Eletrobras
516,202
168,720
98,140
109,589
10,033
13,451
10,350
26,087
46,258
54,741
44,383
-
Balance
06.30.13
Balance
06.30.13
Due Date
521,952
169,516
99,862
102,596
10,041
13,461
1
26,926
52,277
54,781
44,460
10,273
30,178
43,659
-
513,547
148,616
95,216
95,850
10,047
13,470
27,251
55,557
50,475
44,516
10,280
30,216
43,713
8,663
42,711
13,220
43,404
13,335
20,484
35,760
12/2021
06/2016
12/2022
01/2017
01/2015
01/2015
04/2013
06/2018
08/2017
05/2015
12/2015
07/2017
07/2017
05/2021
09/2015
12/2017
07/2021
08/2021
09/2015
09/2021
092021
Index
IPCA + 0.1% p.y.
IPCA + 0.6% p.y.
IPCA + 3.54% p.y.
0.5% p.y.
Selic + 0.5% p.y.
Selic + 0.5% p.y.
Selic + 0.5% p.y.
0.5% p.y.
Selic + 0.5% p.y.
Selic
Selic
Selic + 0.5% p.y.
Selic + 0.5% p.y.
Selic + 0.5% p.y.
Selic + 0.5% p.y.
Selic
Selic + 0.5% p.y.
Selic + 0.5% p.y.
Selic + 0.5% p.y.
Selic + 0.5% p.y.
Selic + 0.5% p.y.
Foreign currency – FC - NA
13.Contracts
13.1.Loans and financing – R$ million
Loans and financing
2013
By activity
Generation
By creditor
Eletrobras
2014
2015
2016
2017
After 2017
68,014
212,457
235,710
175,452
159,628
465,070
68,014
212,457
235,710
175,452
159,628
465,070
2013
2014
13.2.Energy purchase - NA
13.3.Energy sale
Energy Sales
contracts
Regulated Market
Bilateral Contract
TOTAL
Unit
MWh
R$ million
MWh
R$ million
MWh
R$ million
3,708,984.00
612.57
3,708,984.00
612.57
3,708,984.00
643.34
3,708,984.00
643.34
2015
3,708,984.00
643.34
3,708,984.00
643.34
2016
2,841,744.00
532.33
2,841,744.00
532.33
2017
2,557,920.00
493.17
2,557,920.00
493.17
After 2017
2,557,920.00
493.17
2,557,920.00
493.17
151
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)
1Q13
Up to 5
6 to 10
11 to 15
16 to 20
21 to 25
beyond 25
Total
2Q13
3Q13
279
115
2
31
47
244
718
267
116
3
30
41
251
708
274
118
31
48
244
715
14.2.By region
State
1Q13
Rio Grande do Sul
Number of employees
2Q13
715
3Q13
718
708
14.3.By departments
Department
1Q13
Field
Administrative
Number of employees
2Q13
571
144
573
145
3Q13
556
152
15.Complementary work force
Operational
1Q13
2Q13
3Q13
1,061
1,053
1,049
16.Complementary work force
1Q13
0.76%
2Q13
0.97
3Q13
0.14%
152
Marketletter
2. Distribution Companies
Company
Amazonas Energia
Distribuição Alagoas
Distribuição Piauí
Distribuição Rondônia
Distribuição Roraima
Distribuição Acre
Net
Operating
Revenue
2013
2012
2013
2012
2013
2012
2013
2012
2013
2012
1,902
652
746
774
137
254
(116)
(122)
(109)
(57)
32
(4)
(114)
(96)
36
(109)
(74)
(72)
(624)
(119)
(137)
(59)
35
(34)
(508)
(93)
(10)
(132)
(109)
(97)
(127)
(81)
(60)
(4)
38
13
(9)
(86)
57
(91)
(68)
(66)
(6.7)
(12.4)
(8.0)
(0.6)
27.7
5.0
(0.7)
(13.9)
7.3
(13.2)
(52.2)
(31.6)
1,280
622
782
690
131
207
Service
Result
Income/Loss for
the Period
EBITDA
(R$ million)
EBITDA
Margin
Eletrobras System Distribution
Company
Extension of
Distribution Lines
Number of Clients
assisted
Number of
municipalities served
Number of
substations
43,784
16,289
39,310
77,722
55,967
3,379
819,466
228,437
976,552
1,094,906
564,331
96,032
62
22
102
224
52
1
53
11
39
81
57
3
Amazonas Energia
Distribuição Acre
Distribuição Alagoas
Distribuição Piauí
Distribuição Rondônia
Distribuição Roraima
Extension of Transmission Lines – Km
Company
Amazonas
Geration and Transmission Companies
Total
Own
SPEs
(b)
Physical aggregation in
2013
Total
673
59,722
60,395
3,667
3,667
2,033
2,033
673
63,389
64,062
Own
SPEs
(b)
Physical aggregation in
2013
Total
2,204
3
-
13
-
2,204
3
13
(a)
(a+b)
(b) Company's participation in the enterprise
Installed Capacity – MW
Company
Amazonas Energia
Distribuição Rondônia
Eletrobras
Generation and Transmission
companies
Total
(a)
(a+b)
39,449
1,321
658
40,770
41,656
1,334
658
42,990
(b) Company's participation in the enterprise
Energy sold – MWh
Amazonas Energia
Distribuição Acre
Distribuição Alagoas
Distribuição Piauí
Distribuição Roraima
Distribuição Rondônia
Total
9M13
9M12
4,294,511
610,117
2,343,440
2,040,776
450,371
1,992,423
11,731,638
4,062,618
596,436
2,196,990
1,918,300
421,736
1,992,421
11,188,501
153
Marketletter
Balance Sheet
(R$ thousands)
Assets
Current Assets
Cash and banks
Consumers
Taxes and social contributions to compensate
Reimbursement rights
Stored materials
Other credits
Non-Current Assets
Related parties
Consumers
Taxes and social contributions
Deposits linked to legal suits
Financial assets
Other credits
Investment
Intangible
Property, plant and equipment
Total Asset
09.30.13
12.31.12
(resubmitted)
147,694
361,528
33,491
8,947,242
128,194
118,888
9,737,037
390,677
335,655
31,789
6,348,222
77,318
102,208
7,285,869
44,974
1,567,354
239,814
2,645,366
9,073
7,678
574,274
1,245,167
6,333,700
16,070,737
5
51,317
1,450,703
190,062
2,138,126
9,072
7,670
623,765
1,278,105
5,748,825
13,034,694
154
Marketletter
Liabilities and Stockholders’ Equity
Current Liabilities
Suppliers
Loans and Financing
Taxes and social contributions
Estimated obligations
Reimbursement obligations
Sector charges
Leasing
Post employment benefits
Other
Non-Current Liabilities
Loans and financing
Reimbursement obligations
Estimated obligation
Leasing
Post-employment benefits
Provision for lawsuits
Resources for capital increase
Concessions to pay – use of public owned assets
Others
Stockholders’ Equity
Social Capital
Accumulated losses
Equity adjustment
Total Liabilities and Stockholders’ Equity
09.30.13
12.31.12
(resubmitted)
4,280,400
433,433
42,241
64,511
6,981,540
176,056
1,098
383,559
12,362,838
3,271,284
270,381
47,250
23,032
5,328,423
6,352
162,929
194,540
9,304,191
724,079
1,688,664
1,797
1,877,928
16,470
179,302
281,674
268,761
603,380
5,642,055
758,962
1,591,287
1,860,104
11,562
240,650
277,687
279,392
21,159
5,040,803
4,330,917
(6,251,575)
(13,498)
(1,934,156)
16,070,737
4,330,917
(5,627,719)
(13,498)
(1,310,300)
13,034,694
155
Marketletter
Statement of Income
(R$ thousands)
Net operating revenue
Operating expenses
Cost with electric energy
Operating cost
Third party services cost
Gross income
Operating expenses
Service Results
Income financing
Operating result before Law 12,783/13
Gain (loss) – Law 12,783/13
Operating result after Law 12,783/13
Loss for the period
09.30.13
09.30.12
1,902,004
1,280,413
(220,864)
(856,412)
(711,946)
(1,789,222)
112,782
(229,239)
(116,457)
(384,160)
(500,617)
(123,239)
(623,856)
(623,856)
(55,003)
(784,566)
(296,900)
(1,136,469)
143,944
(258,116)
(114,172)
(393,473)
(507,645)
(507,645)
(507,645)
156
Marketletter
Cash Flow
(R$ thousands)
09.30.13
Operating activities – cash flow
Loss for the period
Adjustments to reconcile loss of cash provided by operations
Depreciation and amortization
Asset monetary variation
Liability monetary variation
Financing charges
Financing charges - leasing
Provision for credit of questionable liquidation
Provision for credit of questionable liquidation on tax credits
Provision for contingencies - constitution
New Replacement Value - VNR
Write-off of finacing assets
Write-off of intangible assets
Write-off of investments
Write-off of Property, plant and equipment
Current asset variations
Clients
Stock
Taxes and social contributions
CCC (Fossil Fuel Account)
Others
Non-Current asset variations
Clients
Taxes and social contributions
Related parties
Others
Current liability variations
Supplier
Reimbursement Obligations
Leasing
Taxes and social contributions
Sector charges
Post-employment benefits
Estimated obligations
Others
Non-current liability variations
Reimbursement Obligations
Leasing
Provision for contingencies
Post-employment benefits
Estimated obligations
Special obligations – financing asset concession
Special obligations – intangible assets
Others
Cash from Operating Activities
Financing charges – payment
Legal deposits
Net Cash (Used in) Generated by Operating Activities
Cash from investment activities
Investments acquisition
Financing asset acquisition - concessions
Property, plant and equipment acquisition
Intangible acquisition
Intangible acquisition - concessions
Net Cash used in investment activities
Financing Activities
Loans and financing obtained
Loans and financing payment
Net cash used in financing activities
Increase (Decrease) in Cash and Cash Equivalents
09.30.12
(623,856)
(507,645)
112,570
(972)
23
71,002
275,634
25,954
54,188
(42,928)
123,239
5,372
3,607
2
3,835
105,029
(1,255)
333
44,278
331,149
47,551
53,327
17,941
1,354
6
92,068
(50,931)
(50,800)
(1,702)
(2,599,020)
(16,680)
(2,719,133)
(95,138)
(44,465)
(3,102)
(1,361,297)
(21,058)
(1,525,060)
6,343
(170,839)
5
(1)
(164,492)
(189,183)
(288)
3,730
(185,741)
1,858,729
1,653,117
13,127
(5,009)
(6,352)
1,098
41,479
19,092
3,575,281
1,077,483
1,065,009
16,636
(10,176)
(17,041)
15,856
(63,128)
2,084,639
97,377
(257,810)
(18,420)
4,908
1,797
75,792
2,432
(97,488)
(191,412)
207,310
(244,308)
2,553
47
4
(27,027)
(61,421)
(67,199)
(49,752)
387,128
(29,844)
(37,381)
337,260
(10)
(696,834)
(29,040)
(6,912)
(25,668)
(758,464)
(279,096)
(10,818)
(7,730)
(38,166)
(335,810)
253,198
(124,845)
128,353
(242,983)
145,239
(66,567)
78,672
80,122
157
Marketletter
09.30.13
Cash and cash equivalents at beginning of the period
Cash and cash equivalents at end of the period
390,677
147,694
(242,983)
09.30.12
94,928
175,050
80,122
158
Marketletter
Analysis of the result
The Company had a loss 3.5% higher in the 3Q13 than in the previous quarter, from R$ 277.9 million in 2Q13 to R$ 287.6 million in 3Q13.
Operating Revenue
The supply of electricity increased by 2.0%, from R$ 494.9 million in 2Q13 to R$ 504.7 million in 3Q13, representing no significant impact.
The Construction revenue decreased by 32.6%, from R$ 287.7 million in 2Q13 to R$ 194.0 million in 3Q13. Note that this line is canceled with
construction cost, showing no impact on income.
The Energy Development Account (CDE) - Reduction Rate Balance decreased by 40%, from R$ 98.8 million in 2Q13 to R$ 59.2 million in 3Q13,
due to an accounting adjustment in 2Q13.
Cost of Electricity Service
The Electricity purchased for resale increased by 28.4 % from R$ 82.9 million in 2Q13 to R$ 106.5 million in 3Q13 , especially due to the
recording of R$ 77.0 million arising from contract obligations on purchased energy in the Energy Trading Chamber (CCEE ) since 01/01/2013.
Depreciation and amortization increased by 2.4% from R$ 37.0 million in 2Q13 to R$ 37.9 million in 3Q13, showing no significant impact on the
Company.
The Personnel expenses decreased by 18.4 % from R$ 118.5 million in 2Q13 to R$ 96.7 million in 3Q13. In 2Q13 the value was higher due to the
recording of R$ 38.6 million in the Early Retirement Program (PID) line item , recorded in June 2013.
The Materials expenses increased by 11.7%, from R$ 8.6 million in 2Q13 to R$ 9.6 million in 3Q13 due to more maintenance material being
recorded this quarter.
The third-party services decreased by 13.3%, from R$ 70.1 million in 2Q13 to R$ 60.7 million in 3Q13. In 2Q13, the Company intensified its
collection actions, resulting in an increase in Commercial Services, cutting off of energy and connection of energy . Besides this fact, there was
also an increase in electricity losses in 2Q13, a fact that caused an increase in line item Inspection Services.
Other expenses decreased by 65.8%, from R$ 23.5 million in 2Q13 to R$ 8.0 million in 3Q13, due to an accounting adjustment in 2Q13.
Operating Revenue (Expense)
Provision for losses decreased by 37.9%, from R$ 16.5 million in 2Q13 to R$ 10.2 million in 3Q13, due to the non defaulting by consumers, since
the Company is acting on the administrative collection of past due bills and suspension of the electricity supply.
Provision for losses on tax credits decreased by 38.0 %, considering that in 2Q13 an amount of R$ 33.5 million related to the PCLD of federal tax
credits ( PIS and COFINS ) was recorded, whereas in 3Q13 it was R$ 20.7 million .
New replacement value – VNR
The VNR decreased by 73.0 % from R$ 129.5 million in 2Q13 to R$ 35.0 million in 3Q13 , due to an accounting adjustment in 2Q13 .
Financial Results
The Financial revenues increased 51.6 % from R$ 18.1 million in 2Q13 to R$ 27.5 million in 3Q13 . The main line item that impacted the result
was Moratorium on Energy Sales account , which recorded R$ 10.0 million in 3Q13 arising from the registration fee and updating of receivables
from defaulting customers.
The Financial expenses increased 45.3 % , from R$ 142.8 million in 2Q13 to R$ 207.5 million in 3Q13 , due to higher amounts in the Updating
Suppliers – CCC line item, considering that in the 3Q13 R$ 63.7 million financial charges were recorded due to the increase in the outstanding
balance of suppliers, especially Petrobras Distribuidora S/A and Companhia de Gás do Amazonas (Cigás).
159
Marketletter
Market Data
1.Generation Assets and Energy generated
Own assets
Unit
Parintins
Itacoatiara
Manacapuru
Barreirinha
Coari
Maués
Humaitá
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
Fuel
Installed
Capacity
MW
Guaranteed
energy –
MW Average
Energy generated MWh
1Q13
2Q13
3Q13
22,757
17,338
157
2,610
18,615
8,393
11,459
3,161
25,634
23,032
52
2,852
20,348
9,093
12,632
3,414
27,187
24,455
0
3,127
20,442
9,843
12,999
3,457
Biodiesel
Biodiesel
Biodiesel
Biodiesel
Biodiesel
Biodiesel
Biodiesel
Biodiesel
Biodiesel
BS1800
BS1800
BS1800
BS1800
BS1800
BS1800
BS1800
BS1800
BS1800
33.16
34.83
28.93
3.71
20.85
12.43
15.37
4.67
10.083
6.328
10.868
0.729
7.572
3.822
4.661
1.484
7.32
2.549
6187
6,618
6,561
Biodiesel
Biodiesel
Biodiesel
Biodiesel
Biodiesel
Biodiesel
Biodiesel
Biodiesel
Biodiesel
Biodiesel
BS1800
BS1800
BS1800
BS1800
BS1800
BS1800
BS1800
BS1800
BS1800
BS1800
18.2
7.67
6.07
7
10.62
6.52
1.19
4.87
9.54
6.783
2.489
1.753
1.653
1.996
1.996
0.05
1.367
2.611
16,724
6,100
5,181
3,829
4,464
4,545
2
3,347
6,347
17,724
6,710
5,649
4,068
5,005
9,652
96
3,507
7,183
18,732
7,077
5,936
4,195
4,882
5,429
2
3,445
7,002
3.79
0.986
2,370
2,599
2,560
3.22
1.04
2,570
2,776
2,707
Biodiesel BS1800
Biodiesel
Biodiesel
Biodiesel
Biodiesel
BS1800
BS1800
BS1800
BS1800
7.18
6.23
8.22
2.036
1.662
2.538
4,977
3,482
6,338
5,499
3,487
6,645
5,417
3,569
6,688
8.42
3.021
7,326
7,845
7,591
Biodiesel
Biodiesel
Biodiesel
Biodiesel
BS1800
BS1800
BS1800
BS1800
3.06
4.16
2.5
0.985
1.073
0.498
2,740
2,661
1,325
2,496
2,933
1,516
2,642
3,065
1,599
0.6
0.055
115
212
130
Biodiesel
Biodiesel
Biodiesel
Biodiesel
Biodiesel
BS1800
BS1800
BS1800
BS1800
BS1800
4.58
15.43
5.69
3.6
0.961
5.336
1.584
1.851
2,473
12,771
3,783
4,694
2,805
13,765
3,996
5,265
2,945
13,385
4,165
5,395
2.42
0.676
1,638
1,740
1,658
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
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
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
2,437
2,996
1,432
1,915
151
123
1,755
1,261
3,195
1,345
1,777
1,791
1,085
2,565
3,364
1,487
2,032
171
132
1,753
1,378
3,482
1,506
1,843
2,034
1,172
2,734
3,523
1,440
2,167
162
122
1,665
1,339
3,419
1,565
1,827
1,879
1,205
0.72
45.207
123
135
122
Biodiesel
Biodiesel
Biodiesel
Biodiesel
Biodiesel
BS1800
BS1800
BS1800
BS1800
BS1800
0.72
0.42
0.57
1
0.053
0.054
0.068
0.178
109
105
171
221
97
118
169
227
101
116
169
222
2.64
0.638
1,469
1,584
1,649
160
Marketletter
Unit
Tonantins
Alvarães
Beruri
Caapiranga
Uarini
Urucurituba
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
HEP Balbina
TEP Aparecida
TEP Mauá
TEP Electron
TP CO Cidade
Nova
Fuel
Installed
Capacity
MW
Guaranteed
energy –
MW Average
Energy generated MWh
1Q13
2Q13
3Q13
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
3.46
2.72
2.97
2.06
1.94
2.84
0.57
1.73
2.56
12.72
11.21
1.79
0.944
0.641
0.756
0.493
0.615
0.787
0.102
0.54
0.405
4.195
3.389
0.335
1,825
1,693
2,138
1,338
1,651
2,034
264
1,473
1,018
10,822
8,638
916
1,866
1,948
2,199
1,498
1,821
2,262
321
1,535
1,166
11,692
9,363
976
1,813
1,956
2,461
1,613
1,851
2,907
318
1,643
1,210
12,258
9,472
1,008
2.31
0.738
1,868
2,023
2,164
Biodiesel
Biodiesel
Biodiesel
Biodiesel
Biodiesel
Biodiesel
Biodiesel
Biodiesel
BS1800
BS1800
BS1800
BS1800
BS1800
BS1800
BS1800
BS1800
3.01
0.58
0.43
0.88
0.3
7.19
0.89
1.118
0.122
0.06
0.121
0.033
1.381
0.188
2,984
295
144
311
72
3,354
0
3,420
349
170
369
72
3,623
0
3,490
349
182
381
78
3,882
0
0.84
0.213
394
414
426
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
0.85
0.78
0.612
0.448
4.06
0.71
0.34
1
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
403
698
325
171
3,916
277
489
1,872
0
1,076
264
139
135
178
730
142
114
133
40
61
240
1,512
203
31
446
790
294
189
4,299
316
542
1,970
0
1,239
0
305
146
145
207
833
147
126
144
46
69
249
1,640
225
59
507
169
111
197
Água
OCTE, GN
Bloco 1 - OC1A /
Bloco 3 Gás
Natural
(Alternativo
OCTE) / Bloco4 –
OPGE / Bloco 5 –
Biodiesel / Bloco
6 – Biodiesel /
Bloco 7 Biodiesel
OCTE
277.5
282.5
285,486.60
206,143.70
275,682
204,162
343,605
259,912
251
806
65
211
4,584
335
590
1,837
0
1,213
0
330
155
150
206
796
149
133
148
59
70
264
1,828
254
58
505
199
110
198
110
309,132
305,258
738.1
425,763.05
345,435
354,047
375,500
121.1
911.7
486
2,575
3,558
Diesel/Biodiesel
29.6
19,096.20
19,126
22,100
22,756
468
260
109
161
Marketletter
Unit
TP AS São José
TP FO Flores
TEP Distrito
TEP Iranduba
Total
Fuel
Diesel/Biodiesel
Diesel/Biodiesel
Biodiesel (B
S1800)
Diesel/Biodiesel
Installed
Capacity
MW
Guaranteed
energy –
MW Average
73.4
124.7
59,172.30
87,184.60
51.3
37,207.00
66.6
2,204.22
28,026.00
Energy generated MWh
1Q13
2Q13
3Q13
58.554
95.163
26.669
67.393
101.259
62.835
113.556
29.903
50.602
38.369
1.344.804
41.698
1.587.086
48.073
1.610.059
162
Marketletter
Unit
Location
(State)
Beginning of operation
End of operation
Parintins
Itacoatiara
Manacapuru
Barreirinha
Coari
Maués
Humaitá
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
Manaquiri
Caviana
Campinas
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
Amazonas
Amazonas
Amazonas
Dec/65
Sep/66
Jan/67
Jun/67
Sep/67
Dec/67
Jul/68
Jun/68
Aug/68
Aug68
Ma/69
Jun/69
Sep/69
Sep69
Oct/69
Mar70
Jul/70
Aug70
Jan/71
Jan/71
Jan/71
Jan/71
Feb/71
Mar/71
Out/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
Jun/84
Jul/86
Jul/86
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
Undefined
Undefined
Undefined
163
Marketletter
Unit
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
HEP Balbina
TEP Aparecida
TEP Mauá
TEP Electron
TP CO Cidade Nova
TP AS São José
TP FO Flores
TEP Distrito
TEP Iranduba
Location
(State)
Beginning of operation
End 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
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
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
1Q13
2Q13
3Q13
MWh
R$ million
MWh
R$ million
MWh
R$ million
1,597
0.1
657,738
30.0
659,335
30.1
1,423
0.6
660,395
80.8
661,818
81.4
1,842
0.4
668,657
99.4
670,499
99.8
3 .Energy sold
1Q13
Distribution to
State utilities
Industrial
Residential
Commercial
Others
Total
R$
million
57.1
110.3
130.4
101.9
3.7
403.4
2Q13
MWh
222,552
423,118
384,458
287,417
18,273
1,335,818
R$ million
64.4
109.0
140.4
101.0
80.1
494.9
3Q13
MWh
244,911
447,529
423,436
298,925
18,342
1,433,143
R$ million
67.2
113.5
154.9
107.8
61.3
504.7
MWh
255,716
462,006
469,307
319,377
19,144
1,525,550
164
Marketletter
4. Number of Consumer Units Serviced
State utilities
Industrial
Residential
Commercial
Others
Total
1Q13
2Q13
9,916
3,165
671,088
67,953
41,364
793,486
10,068
3,158
683,591
68,787
40,974
806,578
3Q13
9,525
3,161
695,275
69,574
41,931
819,466
5. Network Expansion - number of new connections
1Q13
2Q13
3Q13
13,905
5,124
12,888
6. Substations
1Q13
Ses 69/13.8 Kv
Ses Special Consumers
Total
2Q13
22
28
50
3Q13
22
29
51
23
30
53
7. Fuel used to produce electricity
Type
Unit
Diesel
oil
Litre
Amount
85,746,310
1Q13
R$ Million
884.8
2Q13
Amount
136,900,324.1
3Q13
R$ Million
R$ Million
Amount
955.1
137,841,579.9
956.9
8. Losses - %
1Q13
Technical
Commercial
Technical
11.01
28.89
2.90
2Q13
Commercial
36.37
Technical
3Q13
Commercial
2.68
35.59
9. Extension of distribution lines
Tension kV
138kv
69kv
34,5kv
13,8kv Urb.
13,8kv Rural
220/127kV Urb.
220/127kV Rural
1Q13
2,235.9 (capital)
1,015.07 (capital)
25,335.65 (interior)
3,341.04 (capital)
146.34 (capital)
10,054.19 (interior)
Extension Km
2Q13
2,235.9 (capital)
1,015.07 (capital)
25,335.65 (interior)
3,341.04 (capital)
146.34 (capital)
10,054.19 (interior)
3Q13
2,294.25 (capital)
1,015.07 (capital)
26,849.17 (interior)
3,367.13 (capital)
146.79 (capital)
10,111.52 (interior)
165
Marketletter
10. Extension of transmission lines – 09.30.13
Line
Balbina–Cristiano Rocha
Manaus–Cristiano Rocha
Ramal de Transmissão–Presidente
Figueiredo
Balbina – Manaus I
Balbina – Balbina – Circuit 1
Balbina – Balbina – Circuit 2
Balbina – Balbina – Circuit 3
Balbina – Balbina – Circuit 4
Balbina – Balbina – Circuit 5
Total
Extension
(Km)
Tension
(Kv)
Beginning of
operation
End of concession
158.513
22.704
230
230
Nov/06
Nov/06
Mar/27
Mar/27
0.124
230
Sep/08
Mar/27
180.344
0.590
0.635
0.635
0.680
0.680
364.905
230
230
230
230
230
230
May/89
Feb/89
Apr/89
Apr/89
Sep/89
Jul/89
Mar/27
Mar/27
Mar/27
Mar/27
Mar/27
Mar/27
Subtransmission
Line
Manaus I – São José
Manaus I – Mauá
Manaus I – Distrito I – Circuit 1
Manaus I – Distrito I – Circuit 2
Manaus I – V8 – Circuit 1
Manaus I – V8 – Circuit 2
Manaus I – Cachoeirinha
Manaus I – Seringal Mirim – Circuit 1
Manaus I – Seringal Mirim – Circuit 2
Manaus I– Flores – Circuit 1
Manaus I – Flores – Circuit 2
Manaus I – Flores – Circuit 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 – Circuit 1
Mauá – Distrito I – Circuit 2
Mauá – Distrito II – Circuit 1
Mauá – Distrito II – Circuit 2
Mauá – Marapatá
Marapatá – Cachoeirinha
Mauá – Cidade Nova
Mauá – Mauá Geração – Circuit 1
Mauá – Mauá Geração – Circuit 2
Mauá – El Paso
Mauá Geração – São José
Mauá Geração – special consumers
Eletro – Cachoeirinha
Distrito I – special consumers
Distrito II – Cachoeirinha – Circuit 1
Distrito II – Cachoeirinha – Circuit 2
Seringal Mirim – Cachoeirinha
Santo Antônio – Sivam
Ponta Do Ismael – Iranduba
Flores – Ambev
Iranduba – Manacapuru
Total
Extension
(Km)
Tension
(kV)
Beginning of
operation
End of
concession
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
02/04/01
10/13/91
10/13/91
11/11/06
10/13/91
10/13/91
07/26/92
09/28/97
10/12/97
02/11/89
11/18/01
12/02/07
01/01/96
04/19/05
11/30/08
11/30/08
12/02/07
07/15/83
02/02/97
04/23/05
11/23/99
04/30/77
04/12/99
11/29/97
04/07/04
11/05/11
11/06/11
08/20/06
02/22/04
02/29/04
03/07/04
03/09/04
07/09/04
01/01/81
03/17/96
11/29/97
09/17/11
02/02/97
03/19/95
06/17/06
03/16/03
08/22/12
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
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
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
Sep/15
Sep/15
Sep/15
166
Marketletter
11. DEC- Duration of interruptions - in hours
1Q13
2Q13
3Q13
11.97
11.83
14.15
12. FEC – Frequency of interruptions – Number of outages
1Q13
2Q13
3Q13
10.71
9.47
9.62
13. TMA – Average response time – in minutes
1Q13
2Q13
3Q13
175.05
186.22
259.44
14. Average price– R$/MWh
1Q13
2Q13
3Q13
257.89
287.10
288.81
15. Main investments – R$ million
Project
1Q13
Distribution
Extension of Urban distribution
“Light for All” Program
Maintenance of the distribution
system
Maintenance of the urban network
Others (infrastructure)
Transmission
Generation
Total
2Q13
3Q13
Budget 2013
79.56
34.01
26.88
195.67
86.94
56.94
283.36
128.05
74.40
775.17
332.21
230.44
6.67
19.42
31.09
103.67
12.01
3.36
6.87
149.43
239.22
32.37
6.14
25.37
286.15
513.34
49.81
8.87
51.27
297.97
641.47
108.85
41.44
88.20
317.17
1,221.99
16. New Investments
16.1. Generation
16.1.1. Owner assets
Unit
Location
(State)
Total of
Investment
R$ million
Amount invested
R$ million
TEU Mauá
3
Amazonas
1,054.33
371.4
Installed
Capacity - MW
Open
Comb.
cycle
cycle
379.76
589.61
Assured Energy
MW average
Open Combine
cycle
d cycle
375
570.4
Beginning of
Beginning
operation
of
Open
Combined
construction
cycle
cycle
09/28/2012
assigned
04/28/14
11/11/14
contract OC
n˚
83599/2012
17. Loans and financing – R$ million
Creditor
Balance
03.31.13
Balance
06.30.13
Balance
09.30.13
Due Date
Index
Eletrobras
1,032.7
1,111.2
1,157.5
01/2024
RGR
167
Marketletter
18. Contract obligations – 09.30.13
2013
Loans and financing
R$ million
Energy Purchase
Contracts
R$ million
MWh
433.4
2013
551.02
2,629,616.40
2014
75.5
2014
2015
586.47
2,671,800.00
618.72
2,671,800.00
2015
2016
198.4
173.3
2016
653.11
2,679,120.00
2017
After 2017
142.3
134.6
2017
688.65
2,671,800.00
After 2017
7.063.99
18,713,580.00
19. Default – more than 120 days – 09.30.13
Class
R$
State utilities
Industrial
Residential
Commercial
Others
Total
20.Number of employees
26,975,661.25
53,905,170.71
19,871,818.49
16,805,782.00
22,867,937.55
140,426,370.00
(including requested employees from other Eletrobras companies/ excluding employees assigned to other
Eletrobras companies)
20.1.By tenure
Generation and transmission
Composition of employees by tenure
(Years)
1Q13
2Q13
3Q13
91
210
102
167
152
219
941
87
212
99
170
152
219
939
77
220
101
169
149
211
927
1Q13
2Q13
3Q13
68
188
46
85
127
246
758
66
188
46
85
124
249
758
63
191
46
85
122
245
752
1Q13
2Q13
3Q13
147
199
13
27
57
132
575
142
201
12
28
57
132
572
139
203
13
27
54
123
559
Up to 5
6 to 10
11 to 15
16 to 20
21 to 25
beyond 25
Total
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
Administration
Tenure (years)
Up to 5
6 to 10
11 to 15
16 to 20
21 to 25
Beyond 25
Total
168
Marketletter
20.2. By region
State
Amazonas
1Q13
Number of employees
2Q13
3Q13
2,274
2,269
2,238
1Q13
Number of employees
2Q13
3Q13
1,615
659
1,611
658
1,593
645
20.3. By departments
Department
Field
Administrative
21.Complementary work force
Operational
1Q13
2Q13
3Q13
1,670
1,670
1,670
22.Turn-over
1Q13
2Q13
3Q13
0.22
0.44
1.86
169
Marketletter
Balance Sheet
(R$ thousands)
Asset
Current
Cash and cash equivalent
Clients
Taxes and contributions
Reimbursement rights
Stored material
Service in course
Others
Non current
Long term assets
Clients
Securities and colateral deposits
Taxes and social contribuions – to compensate
Financing assets
Fixed assets
Intangibles
Total
09.30.13
12.31.12
(resubmitted)
87,767
42,425
10,380
106,151
3,133
12,226
10,730
272,812
52,043
54,763
5,296
96,964
2,768
9,571
16,845
238,250
13,516
17,869
3,568
332,534
7,114
54,543
429,144
701,956
14,178
14,324
3,847
291,573
6,340
58,523
388,785
627,035
170
Marketletter
Liabilities and Stockholders Equity
Current
Suppliers
Taxes and social contributions
Loans and financings
Research and development
Sector charges
Estimated obligations
Others
Non-current
Loans and financing
Reimbursement obligations
Provisions for civil, labor and fiscal risks
Advance for future capital increase
Estimated obligations
Others
Stockholders Equity
Social capital
Capital reserves
Accured losses
Total
09.30.13
12.31.12
260,868
13,460
34,798
30,805
253
18,384
15,715
374,283
176,313
16,764
26,815
29,097
1,212
4,585
11,941
266,727
109,368
60,538
2,451
230,631
956
3,891
407,835
125,350
57,792
1,432
217,497
4,616
406,687
245,158
4,277
(329,597)
(80,162)
701,956
245,158
4,277
(295,814)
(46,379)
627,035
171
Marketletter
Statement of Income
(R$ thousands)
09.30.13
Net operating revenue
Operating costs
Electric Energy costs
Electricity purchased for resale
Charges for the use of the transmission network
Operational costs
Personnel, material and third-party services
Depreciation and amortization
Fuel for electric power production
Expense recovery - CCC
Others
Construction costs
Gross income
Operating expenses
Electric Energy service result
Financing result
Operating result
Gains-Law12,783/13
Income Pariticipation
Operating result after Law 12,783/13
Tax and social contribution
Losses for the period
253,891
(179,789)
(104,743)
(102,999)
(1,744)
(33,302)
(24,427)
(7,581)
(88,724)
88,724
(1,294)
(41,744)
74,102
(78,110)
(4,008)
(38,523)
(42,531)
9,164
(33,367)
(416)
(33,783)
09.30.12
207,205
(207,627)
(138,205)
(133,617)
(4,588)
(36,461)
(17,832)
(5,981)
(76,437)
76,437
(12,648)
(32,961)
(422)
(71,109)
(71,531)
(25,096)
(96,627)
2,518
(96,627)
(96,627)
172
Marketletter
Cash Flow
(R$ thousands)
09.30.13
Operational Activities
Net income (loss) for the period
Expenses (income) that do not affect cash:
Depreciation/Amortization
Amortization of intangible assets
Net Monetary Variation
Financing charges
Provision for doubtful accounts
Provision for contingencies
Write-off of intangible assets
Variation of assets
Clients
Taxes and social contribution
Reimbursement rights
Stored materials
Service in course
Linked deposits
Other assets
Variation of liabilities
Suppliers
Taxes and social contribution
Sector charges
Post-employment benefits
Reimbursement obligations
Other liabilities
Cash from operating activities
Taxes payable
Financing charges payable
Resources (applied to) Operating Activities
Net cash from operating activities
Cash flow from investment activities
Acquisition of property, plant and equipment
Acquisition of linked intangible assets
Acquisition of non linked intangible assets
Net cash from investment activities
Cash flow from financing activities
Capital increase
Loan receivables
Net cash from financing activities
Increase (decrease) in cash and cash equivalent
Cash and cash equivalent at the beginning of the period
Cash and cash equivalent at the end of the period
09.30.12
(33,367)
(96,627)
360
7,979
22,016
9,537
15,388
(1,881)
(3)
20,029
344
6,010
13,753
8,886
28,455
3,204
(35,975)
(2,388)
(4,805)
(8,889)
(365)
(2,654)
(2,867)
5,371
(16,597)
(29,626)
(3,494)
(42,703)
(388)
(9,571)
(1,801)
(8,433)
(96,016)
69,491
(3,304)
(958)
(853)
6,341
87,180
101,435
4,613
92
(896)
14,518
127,034
(416)
(9,537)
(9,953)
80,659
80,659
(7,929)
(7,929)
(12,886)
(12,886)
(1,134)
(2,637)
(1,359)
(36,927)
(3,475)
(4,353)
(1,234)
(37,668)
20,556
(8,008)
35,724
52,043
87,767
35,724
35,000
56,398
81,334
30,780
17,427
48,207
30,780
173
Marketletter
Analysis of the result
The Company recorded a reduction in its Losses of 15%, from a loss of R$ 23.08 million in 2Q13 to a loss of R$ 19.5 million in 3Q13. The main
factors in this improvement were the accounting provision for expenditures on the PDI (Retirement Program), the payment of PLR (participation
in results) in May, accounting of electricity as determined by the CCEE, of R$ 15.8 million and an increase of the IGP index, thus affecting the
updating of the debt with suppliers of raw materials for energy production.
Operating Revenue
The Operating revenues presented, in the comparison between 2Q13 and 3Q13, an increase of 19%. The variation is the result of th e increase in
energy consumption due to the dry season in the region.
The Construction revenue presented in the comparison between 3Q13 and 2Q13, an increase of 109%, from R$ 8.3 million to R$ 17.3 million,
due to the increase of works in progress in 3Q13.
Cost of Electricity Service
The Electricity purchased for resale presented a variation of 30% between 2Q13 and 3Q13. This refers to the accounting of electricity as
determined by the CCEE in the amount of R$ 15.8 million, including the actual calculation of the month plus the law suits filed by the suppliers
over the cost of operation of thermal plants, whose financial value was R$ 8 million.
Charges for use of the electricity grid presented an increase of 42%, affected by the increase of the amount consumed in the period and the
determination of CCEE reported in the previous item.
Operating Costs and Expenses
The Personnel expenses decreased by 41% from R$ 23.9 million to R$ 14.2 million due to the accounting of the Early Retirement Plan in June.
Materials expenses showed no significant variations.
The third-party services presented a decrease of 32%, due to the accounting of MCPSE expenses occurred in June.
Provision and reversal was reduced by 100%, when comparing 3Q13 and 2Q13. In 2Q13 R$ 13.1 million were provisioned and in 3Q13 a reversal
of the provision for profit sharing in the amount of R$ 2.6 million was made, in addition to the achievement of fundraising goals, which recovered
overdue invoices.
Financial Result
The financial result changed by 19% between the 3Q13 and 2Q13. The financial revenues between 2Q13 and 3Q13, remained stable. Financial
expenses presented, in the comparison between 2Q13 and 3Q13, a variation for AFAC'S Advancements for Future Capital Increase and Debt
Charges which went through the expected adjustments with the update of monthly indicators.
174
Marketletter
Market Data
1. Generation Assets and Energy generated – NA
2. Electric energy purchased for resale
System
Eletrobras (SIN)
Eletrobras
Eletronorte
Others
Total
Unit
1Q13
MWh
R$ million
MWh
R$ million
MWh
R$ million
MWh
R$ million
53,224
7.61
111,018
15.88
89,768
19.53
254,010
43.03
2Q13
3Q13
53,438
10.69
112,383
16.17
118,195
9.21
284,016
36.,07
55,685
2.16
118,850
17
104,104
19
278,639
38.00
SIN – National Interconected System
3. Energy sold
Distribution
to
State utilities
Industrial
Residential
Commercial
Others
Total
1Q13
R$ million
15
3
35
17
3.1
73.2
2Q13
3Q13
MWh
R$ million
MWh
R$ million
MWh
42,822
8,630
90,374
44,019
11,441
197,286
14.8
2.9
32.6
16.5
2.9
69.6
46,043
9,383
92,227
46,064
11,664
205,380
15.4
2.9
33.3
16.3
3.0
71.0
48,016
9,651
93,582
44,209
11,993
207,451
4. Number of Consumer Units Serviced
State utilities
Industrial
Residential
Commercial
Others
Total
1Q13
2Q13
3Q13
3,401
744
175,951
18,150
29,920
224,843
3,064
736
177,385
18,282
27,094
226,561
3,394
718
178,887
18,695
26,743
228,437
1Q13
2Q13
3Q13
21
1,510
560
209
2,300
10
4,107
874
285
5,276
8
2,217
634
56
2,915
5. Network Expansion - number of new connections
Industrial
Residential
Commercial
Other
Total
6. Substation
1Q13
2Q13
3Q13
14
14
11
175
Marketletter
7. Fuel for production of electric energy
Type
Unit
Diesel
Total:
Litre
1Q13
Amount
R$ million
Amount
12,929,506
12,929,506
38.9
38.9
11,810,000
11,810,000
2Q13
R$ million
33.8
33.8
3Q13
Amount
R$ million
12,535,000
12,535,000
35.34
35.34
8. Losses - %
1Q13
Technical
Commercial
Technical
11.76
9.94
11.76
2Q13
Commercial
10.89
3Q13
Technical
Commercial
11.86
11.91
9. Extension of distribution lines – 09.30.13
Tension (kV)
Distribution
Distribution
Distribution
Distribution
Distribution
Extension (Km)
Network Low Voltage - urban
Network / Distribution Line Medium Voltage - 13.8
Line 34.5
Line 69
Line 138 Kv
1,620.49
10,800.92
3,457.72
170.00
240.00
10. Extension of transmission line – 09.30.13 – NA
11. Duration of interruptions - in hours
1Q13
2Q13
3Q13
27
15.28
10.32
12. FEC – Frequency of interruptions – Number of outages
1Q13
2Q13
3Q13
15.06
10.79
9.97
13. TMA – Average response time – in minutes
1Q13
2Q13
3Q13
614
407.52
288.04
14. Average price– R$/MWh
1Q13
2Q13
3Q13
371.04
338.88
342.25
176
Marketletter
15. Main investments – R$ thousand
Project
1Q13
Distribution
Rural Distribution Network
Expansion- Light for All
Urban Distribution Network
Expansion
Distribution System Maintenance
Modernization and Adequacy of
Commercial and Distribution
System
Others
Asset maintenance
Total
2Q13
2,309
6,105
7,569
1,528
359
2,318
14,084
3Q13
2013 budget
6,520
44,751
5,432
969
10,376
2,528
1,339
11,659
4,824
2,533
55,343
1,015
19,904
235
11,596
1,303
123,432
16. Loans and financing – R$ thousand
Creditor
Balance
03.31.13
Balance
06.30.13
Balance
09.30.13
Due
Index
Eletrobras
Eletrobras
35,049
120,845
33,383
117,036
34,798
109,368
12.31.13
After 2017
Selic/Finel
Selic/Finel
17. Contract obligations – 09.30.13
Loans and financing
R$ million
Energy Purchase Contracts
R$ million
MWh
2013
2014
2015
2016
2017
34,798
18,622
18,946
18,563
16,572
After 2017
36,665
2013
2014
2015
2016
2017
After 2017
174
1,113,659
141
1,006,219
106
1,002,764
141
1,481,625
157
1,689,608
3,520
43,793,115
18. Default – more than 120 days – 09.30.13
Class
R$ million
State utilities
Industrial
Residential
Commercial
Others
Total
19. Number of employees
3.62
1.71
15.16
5.09
7.76
33.34
(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
1Q13
2Q13
3Q13
74
40
0
0
32
71
217
76
40
0
0
32
71
219
73
39
0
0
31
67
210
177
Marketletter
Administration
Composition of employees
by tenure (Years)
Up to 5
6 to 10
11 to 15
16 to20
21 to 25
beyond 25
Total
1Q13
2Q13
3Q13
39
22
0
0
19
35
115
42
22
0
0
18
36
118
42
23
0
0
19
35
119
19.2.By region
Number of employees
State
1Q13
2Q13
3Q13
332
337
329
Acre
19.3.By departments
Number of employees
Department
Field
Administrative
1Q13
2Q13
3Q13
127
205
125
212
119
210
2Q13
3Q13
20. Complementary work force
1Q13
Operational
538
675
587
21. Turn-over
1Q13
2Q13
3Q13
0.006
0.007
0.013
178
Marketletter
Balance Sheet
(R$ thousands)
Assets
Current Assets
Cash and banks
Consumers
Taxes and social contributions
Reimbursement rights
Stored materials
Services in course
Other credits
Non-Current Assets
Long-term assets
Consumers
Taxes and social contributions
Collaterals and tied deposits
Financing assets - concessions
Investments
Intangible
Property, plant and equipment - net
Other
Total of Assets
09.30.13
12.31.12
23,392
229,216
9,444
6,655
5,836
23,428
18,984
316,955
46,006
224,884
7,446
6,128
5,693
19,407
15,272
324,836
145,915
5,808
40,903
644,307
168
4,863
23,832
3,957
869,753
1,186,708
162,023
6,079
45,822
553,183
168
34,360
26,739
3,980
832,354
1,157,190
179
Marketletter
Liabilities
Current Liabilities
Loans and financing
Suppliers
Taxes and social contributions
Estimated obligations
Reimbursement obligations
Post-employment benefits
Sector charges
Research and development
Others
Non-Current Liabilities
Loans and financing
Provision for contingencies
Resources for capital increase
Post-employment benefits
Research and development
Taxes and social contributions
Other obligations
Stockholders’ Equity
Social Capital
Accrued losses
Other comprehensive income
Total Liabilities
09.30.13
152,735
89,463
36,754
17,439
50,449
42,366
4,757
340
9,948
24,141
428,392
12.31.12
96,042
125,576
43,819
12,627
34,198
6,637
2,421
9,913
33,134
364,367
384,917
95,350
44,405
4,057
145,118
20,699
10,162
4,286
708,994
351,630
94,026
176,514
137,897
16,343
8,009
4,286
788,705
689,524
(492,987)
(147,215)
49,322
1,186,708
525,484
(374,151)
(147,215)
4,118
1,157,190
180
Marketletter
Statement of Income
(R$ thousands)
09.30.13
Net Operating Revenue
Operational costs
Cost of electric energy
Operational costs
Third party services costs
Gross Income
Operating Expenses
Electric Energy services - losses
Financing result
Operational losses before Law 12,783/13
Gains Law 12,783/13
Net income (loss) for the period
Basic loss per share
Diluted loss per share
09.30.12
reclassified
652,409
621,681
(350,553)
(220,007)
(76,812)
(647,372)
5,037
(127,518)
(122,481)
(18,504)
(140,985)
22,149
(118,836)
(0.23)
(0.10)
(349,149)
(151,518)
(72,648)
(573,315)
48,366
(143,953)
(95,587)
2,446
(93,141)
(93,141)
(0.18)
(0.09)
181
Marketletter
Cash Flow
(thousands reais)
09.30.13
Cash from operation activities
Operating activities
Losses for the period
Adjustments
Depreciation and Amortization
Financing result – advance for future capital increase and loans
Financing result – taxes and other liabilities
Provision for credit of questionable liquidation
Provision for contingencies
Provision for losses of stored material
Residual value of financial assets - public service concessions
Residual value of intangibles
Residual value of Property, plant and equipment
Financial asset - VNR Law 12,783/13
Early Retirement Plan
Amortization of tax installments
Other
Assets and liabilities variation
Clients
Taxes and social contributions
Reimbursement rights
Stored material
Other assets
Linked deposits
Suppliers
Taxes and social contributions
Estimated obligations
Reimbursement obligations
Sectorial charges
Post-employment benefits
Other liabilities
Net cash from operational activities
Investment activities
Financing asset acquisition – public service concession
Intangibles - acquisitions
Property, plant and equipment acquisition
Net cash from investment activities
Financing activities
Income from loans and financing
Advance for future capital increase
Loans and financing amortization - principal
Financing charges amortization – loans and financing
Net cash from financing activities
Increase (decrease) in the cash and cash equivalent
Cash and cash equivalents at beginning of the period
Cash and cash equivalents at end of the period
09.30.12
(118,836)
(93,141)
21,469
17,773
1,044
(29,854)
1,761
(835)
14,240
5,155
511
(22,149)
54,506
(2,327)
672
61,966
11,547
20,386
232
57,537
9,065
(284)
(2,237)
1,260
116,540
45,937
(1,727)
(527)
692
(7,595)
3,470
(36,113)
(3,873)
4,812
8,168
(2,081)
5,341
(8,666)
7,838
(49,032)
(23,574)
229
993
(56)
(16,310)
(3,610)
(4,598)
(565)
15,805
2,077
(3,450)
(1,465)
700
(33,824)
(10,425)
(72,035)
(4,777)
(908)
(77,720)
(64,613)
(12,179)
(2,437)
(79,229)
169,922
21,918
(58,399)
(29,303)
104,138
(22,614)
46,006
23,392
(22,614)
87,123
55,000
(37,927)
(3,370)
100,826
11,172
39,365
50,537
11,172
19,034
182
Marketletter
Analysis of the result
The company presented in the 3T13 an income of R$ 22.7 million, 128% higher than the loss of R$ 82.1 million recorded in 2Q13, due to the
factors listed below.
Operating Revenue
The Net operating Revenue grew by R$ 25.8 million from R$ 228.5 million in 2Q13 to R$ 306.4 million in 3Q13, due to the new rates approved by
ANEEL which increased the average rate by 3.26% and also to the increase of new consumers.
Cost of electricity service and operating expenses
The Electricity purchased for resale in 3Q13 showed a decrease of R$ 31.6 million compared to 2Q13.
The charges for the use of the system decreased R$ 8.4 million in the 3Q13 compared to 2T13.
Cost of Service, Operating Cost and Expenses
The Personnel costs decreased by R$ 93.8 million between the quarters due to the accounting of the Early Retirement Program - PID in June
2013.
The third party services decreased by R$ 0.9 million between the quarters, due to budget reductions.
Depreciation increased by R$ 0.3 million between the quarters.
The cost of construction increased by R$ 18.9 million between the quarters, due to higher acquisition of fixed assets.
Financial Results
The financial results presented, in 3Q13, a decrease of R$ 5.1 million compared to 2Q13, due to the increase in financial income of R$ 2.7 million,
including monetary correction of installments and interest on energy bills and a decrease in financial expenses in the amount of R$ 2.4 million,
due to the accounting of the new installment plan established by Federal Revenue Department in June.
183
Marketletter
Market Data
1. Generation Assets and Energy generated – NA
2. Electric energy purchased for resale
System
Eletrobras
Others
Total
Unit
1Q13
2Q13
3Q13
MWh
R$ million
MWh
R$ million
MWh
R$ million
607,936
61.47
407,151
41.17
1,015,087
102.640
773,282
99.63
515,521
66.42
1,288,803
166.05
648,836
52.30
432,557
34.87
1,081,393
87.17
3. Energy sold
1Q13
R$ million
Distribution to
State utilities
Industrial
Residential
Commercial
Others
31.9
32.8
126.3
66.3
15.5
2Q13
3Q13
MWh
R$ million
MWh
122,953
142,001
302,126
167,950
89,925
30.9
28.6
117.4
61.3
5.8
128,139
136,355
311,631
168,064
43,800
R$ million
MWh
30.7
29.7
111.3
60.0
4.7
122,116
136,599
294,894
157,613
19,274
4. Number of Consumer Units Serviced
State utilities
Industrial
Residential
Commercial
Others
Total
1Q13
2Q13
3Q13
9,619
2,643
875,684
56,447
10,423
954,816
9,729
2,645
888,282
57,032
10,505
968,193
9,735
2,656
896,421
57,223
10,517
976,552
5. Network Expansion - number of new connections
1Q13
2Q13
3Q13
5,147
13,377
8,359
6. Substations
1Q13
2Q13
3Q13
39
39
39
7. Fuel used to produce electricity- NA
8. Losses - %
Technical
8.42
1Q13
Commercial
18.40
Technical
8.42
2Q13
Commercial
18.74
3Q13
Technical
10.34
Commercial
16.65
184
Marketletter
9. Extension of distribution lines – 09.30.13
Tension (kV)
Extension (Km)
13.8
0.22/0.38
21,907.41
17,402.62
10. Extension of transmission lines – 09.30.13
Tension (kV)
ExtensionKm
69
1,776.13
11. DEC- Duration of interruptions - in hours
1Q13
2Q13
3Q13
6.6575
9.6595
7.5766
12. FEC – Frequency of interruptions – Number of outages
1Q13
2Q13
3Q13
4.0136
4.6578
3.9004
13. TMA – Average response time – in minutes
1Q13
2Q13
3Q13
239
534
457
14. Average price– R$/MWh
1Q13
2Q13
3Q13
256.25
246.19
253.81
15. Main Investments – R$ million
Projectt
Distribution
Rural Distribution Network Expansion - Light for All
Expansion of Distribution System
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
1Q13
2Q13
3Q13
2.9
5.1
3.5
3.3
7.7
7.6
5.01
7.68
8.88
38.7
40.4
43.4
1.5
4.3
6.68
43.7
0.1
-
1.4
0.1
0.07
1.0
0.3
0.22
13.5
23.2
28.55
182.1
0.5
13.7
2013 budget
185
Marketletter
16. Loans and Financing – R$ million
Creditor
Eletrobras
Faceal
Bndes
Bic Banco
Caixa Econômica
Federal
Lloyds Bank
Balance
03.31.13
Balance
06.30.13
Balance
09.30.13
Due Date
Index
413
20
1
2
458
19
1
517
17
-
2022
2015
2013
2012
Selic + varied
INPC + 12.68%
TR + 8%
CDI + 5.91%
5
5
3
2013
CDI/Over + 1.694%
1
1
1
2024
Dolar + 4%
17. Contract obligations – 09.30.13
Loans and financing
R$ million
2013
2014
2015
2016
2017
After 2017
153
94
111
68
51
60
2013
2014
2015
2016
2017
390.3
4,333,713
473.3
4,801,762
520.4
5,137,373
546.4
5,414,657
573.8
5,834,698
Energy Purchase Contracts
R$ million
MWh
After 2017
602.4
5,834,698
18. Default – more than 120 days – 09.30.13
Class
R$ million
State utilities
Industrial
Residential
Commercial
Others
Total
19. Number of employees
8
30
11
7
13
69
(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
1Q13
2Q13
3Q13
529
22
534
24
511
54
224
293
1,068
184
332
1,074
163
289
1,017
186
Marketletter
Administration
Composition of employees by tenure
(Years)
Up to 5
6 to 10
11 to 15
16 to20
21 to 25
beyond 25
Total
1Q13
2Q13
3Q13
90
28
87
25
81
29
2
22
94
236
2
19
98
231
2
17
83
212
19.2.By region
State
1Q13
Alagoas
Number of employees
2Q13
1,304
3Q13
1,305
1,229
19.3.By departments
Departments
Field
Administrative
1Q13
Number of employees
2Q13
3Q13
1,068
236
1,074
231
1,017
212
1Q13
2Q13
3Q13
1,014
1,014
1,014
20.Complementary work force
Operational
21.Turn-over
1Q13
2Q13
3Q13
0.42%
0.96%
3.99%
187
Marketletter
Balance Sheet
(R$ thousands)
Assets
Current Assets
Cash and banks
Consumers
Taxes to recover
Reinbursement rights
Stored materials
Other credits
09.30.13
12.31.12
(resubmitted)
11,628
215,460
19,909
10,505
11,480
38,125
307,107
33,923
289,441
12,534
16,129
10,962
17,524
380,513
151,690
6,865
11,986
789,662
1,268
961,471
146
27,166
8,577
997,360
1,304,467
138,499
6,865
10,709
722,991
1,118
880,182
146
30,125
32,713
943,166
1,323,679
Non-Current Assets
Consumers
Recoverable taxes
Collaterals and linked deposits
Financial assets - concessions
Other
Investments
Property, plant and equipment - net
Intangible
Total Assets
188
Marketletter
Liabilities and Stockholders Equity
Current Liabilities
Loans and financing
Suppliers
Taxes to collect
Estimated obligations
Sector charges
Post-empoyument benefits
Research and development
Other
Non-Current Liabilities
Loans and financing
Taxes to collect
Estimated obligations
Provision for contingencies
Post-employment benefits
Advance for future capital increase
Research and development
Other
Stockholders Equity uncovered
Social Capital
Accumulated losses
Adjustment on equity
Total Liabilities and Stockholders Equity uncovered
09.30.13
12.31.12
155,799
72,836
75,289
78,805
3,062
16,474
25,936
46,038
474,238
108,522
141,929
68,937
36,375
5,206
13,313
21,536
38,943
434,761
498,373
39,644
2,972
72,134
64,279
136,459
20,474
773
835,108
478,879
48,206
63,021
71,785
430,282
19,392
859
1,112,424
1,135,090
(1,136,410)
(3,559)
(4,879)
1,304,467
779,224
(999,171)
(3,559)
(223,506)
1,323,679
189
Marketletter
Statement of Income
(R$ thousands)
09.30.13
Net Operating Revenue
Operational Costs
Electric Energy Cost
Electric energy purchased for resale
Charges for use of transmission system
Operational costs
Personnel, material and services to third parties
Depreciation and amortization
Other
Construction costs
Gross income
Operational expenses
Electric energy services result
Financing result
Operational Losses before Law 12.783/13
Gains on Law12.783/13
Operating loss after Law 12,783/12
Income tax and social contribution
Net income (loss) for the period
Basic income (loss) per share (R$)
Diluted income (loss) per share (R$)
09.30.12
746,235
781,904
(338,210)
(7,825)
(346,035)
(290,102)
(40,241)
(330,343)
(201,007)
(21,430)
(32,261)
(254,698)
(120,892)
24,542
(133,648)
(109,106)
(55,660)
(164,766)
27,527
(137,239)
(145,201)
(19,709)
(9,824)
(174,734)
(151,139)
125,688
(89,351)
36,337
(46,391)
(10,054)
(137,239)
(0.1761)
(0.1079)
(10,054)
(508)
(10,562)
(0.0136)
(0.0087)
190
Marketletter
Cash Flow
(reais thousands)
09.30.13
Operational Activities
Loss for the period
Adjustments
Depreciation of property, plant and equipment
Amortization of intangible assets
Provisions/reversals for doubtful accounts
Provisions/reversals for contingencies
Provisions for Early Retirement Plan and medical assistance
Interest, charges, net monetary variation
Residual Value of thePermanent assets
Residual value of the intangibles
Financial assets – VNR Law 12.783/13
Changes in assets and liabilities
Customers
Compensation rights
Taxes receivable
Stored materials
Other (asset)
Linked deposits
Suppliers
Sector charges
Post-employment benefits
Taxes payable
Estimated obligations
Research and development
Provision for contingencies
Other (liability)
Net resources from operations
Cash generated by investment activities
Aquisitions of permanent assets
Aquisitions of intagible assets
Aquisitions of Financial Assets
Net Cash flows from investment activities
Cash flows from financing activities
Loans and financing - receivable
Advance for capital increase
Amortization of Principal and interest of loans and financing
Net cash used in financing activities
Increase/Reduction in cash and cash equivalents
Initial balance of cash and cash equivalents
Closing balance of cash and cash equivalents
09.30.12
(137,239)
(10,562)
(2,548)
24,575
1,501
19,113
55,416
32,278
12,003
2,646
27,527
172,729
1,801
18,559
14,730
6,969
84,826
59,289
5,624
(7,375)
(518)
(20,751)
(1,277)
(69,093)
(2,144)
(6,715)
(2,210)
(7,644)
5,481
(10,218)
7,009
(50,542)
(15,052)
(39,896)
(10,111)
(5,376)
(2,780)
(617)
(1,355)
16,234
(1,713)
(5,648)
48,562
7,355
(5,215)
(11,885)
30
12,415
61,849
(6,496)
(3,085)
(94,198)
(103,779)
(38,213)
(15,040)
(108,906)
(162,159)
118,7 58
62,043
(84,265)
96,536
(22,295)
33,923
11,628
73,162
72,071
(68,036)
77,197
(23,113)
45,208
22,095
25,812
21,156
(4,201)
191
Marketletter
Analysis of the result
The company presented, in 3Q13 a loss of R$ 7.4 million, representing a 92% reduction in loss compared to a loss of R$ 96.1 million recorded in
2Q13, mainly by a reduction in the energy cost, the commercial losses and the personnel costs, as detailed below.
Operating Revenue
Gross operating revenue, excluding revenue from construction, increased by 3.1%, from R$ 311.1 million in 2Q13 to R$ 320.8 million in 3Q13.
The energy supply grew by 5%, from R$ 254.3 million in 2Q13 to R$ 266.7 million in 3Q13, due to the growth of energy consumption.
Other revenues increased 22%, from R$ 42 million in 2Q13 to R$ 51.3 million in 3Q13, due to the increase in the correction of the financial asset.
Cost of Electricity Service
Personnel costs decreased 64 %, from R$ 128.8 million in 2Q13 to R$ 46.2 million in 3Q13, due to the expenses provision for the Early
Retirement Program - PID (R$ 73.7 million) and also the reflection of the last salary adjustment from the Collective Agreement (ACT 2013) of
7.29 %, registered in 2Q13.
The electricity cost decreased by 11 %, from R$ 120.9 million in 2Q13 to R$ 107.6 million in 3Q13, mainly due to lower expenses with CCEAR of
R$ 9.6 million and charges for use of the electricity grid in the amount of R$ 9.8 million.
Provisions for contingencies added to losses - increased by R$ 75.3 million in 2Q13 compared to 3Q13, primarily driven by the increase in
contingent liabilities, in 153% (including new provisions considered by the legal department as a probable loss) and provision for losses - PCLD in
163 % (increase in consumer defaulting).
The Commercial losses decreased 99%, from R$ 55.9 million in 2Q13 to R$ 0.7 million in 3Q13, due to the write-off of credits considered difficult
to recover.
Depreciation decreased by 41%, mainly caused by the write-off of fixed assets in service, due to the adjustments introduced by the MCPSE
Manual of Asset Control of the electricity Sector, as well as the Regulatory Asset Base – RAB.
Financial Results
There was a negative growth of 424% in the financial result from a net expense of R$ 6.8 million in 2Q13 to a net expense of R$ 35.7 million in
3Q13. The variation was driven mainly by the growth of 53% of the costs of debt charges, from R$ 14.1 million in 2Q13 to R$ 21.6 million in
3Q13, and a 54% growth in net monetary variations, from R$ 11.6 million in 2Q13 to R$ 17.9 million in 3Q13.
192
Marketletter
Market Data
1. Generation Assets and Energy generated - NA
2. Electric energy purchased for resale
System
Eletrobras
Others
Total
Unit
1Q13
MWh
R$ million
MWh
R$ million
MWh
R$ million
2Q13
488,003
24.202
451,102
120.331
939,105
114.533
3Q13
505,608
25.778
459,083
85.375
964,691
111.153
422,214
26.005
625,844
75.885
1,048,059
101.889
3. Energy sold
Distribution to
1Q13
R$ million
State utilities
Industrial
Residential
Commercial
Others
Total
32.634
11.037
122.546
47.067
6.259
219.543
2Q13
3Q13
MWh
R$ million
MWh
R$ million
MWh
123,146
44,756
311,181
140,954
27,043
647,080
43.837
15.565
150.670
62.818
8.351
281.241
133,324
49,691
311,670
145,080
29,420
669,215
44.126
15.963
158.942
66.595
10.817
296.443
137,040
50,139
340,416
158,239
38,647
724,481
4. Number of Consumer Units Serviced
Public Services Utilities
Industrial
Residencial
Comercial
Others
Total
1Q13
2Q13
19,989
3,661
939,869
77,220
30,195
1,070,934
19,614
3,627
950,995
79,520
30,506
1,084,262
3Q13
20,335
3,601
959,912
80,395
30,663
1,094,906
5. Network Expansion - number of new connections
1Q13
2Q13
3Q13
15,973
13,328
12,218
1Q13
2Q13
3Q13
78
80
81
6. Substations
7. Fuel used to produce electricity- NA
8. Losses - %
1Q13
Technical
12.45
Commercial
17.56
Technical
12.78
2Q13
Commercial
14.17
3Q13
Technical
13.29
Commercial
15.25
193
Marketletter
9. Extension of distribution lines – 09.30.13
Tension Kv
Extension Km
138
69
34.5
13.8
Low tension
282
2,381
7,598
43,358
24,103
10. Extension of transmission lines – 09.30.13 - NA
11. DEC- Duration of interruptions - in hours
1Q13
2Q13
3Q13
8.31
6.75
7.53
12. FEC – Frequency of interruptions – Number of outages
1Q13
2Q13
3Q13
6.89
5.30
5.36
1Q13
2Q13
3Q13
390
331
307
13. TMA – Average response time – in minutes
14. Average price– R$/MWh
1Q13
2Q13
3Q13
339.28
420.26
419.18
15. Main investments – R$ million
Project
1Q13
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
2Q13
14.587128
9.695925
2.435217
1.208433
0.261744
0.0
28.188447
3Q13
26.966239
13.176457
7.778114
18.499107
12.904674
17.051174
4.687128
4.456979
0.821253
0.189109
53.618300
1.362581
0.286406
54.560921
2013 budget
101.102192
106.072665
46.171233
48.490815
15.697562
3.303163
320.837630
16. Loans and financing – R$ million
Creditor
Balance
03.31.13
Balance
06.30.13
Balance
09.30.13
Due
Index
BB
Eletrobras
Morgan
1.444
578.433
7.187
1.193
639.077
7.764
0.938
640.959
7.827
2014
2019
2024
IGPM- 10% p.y.
FINEL/RGR – 5.00% p.y.
DOLAR- 8.46% p.y.
194
Marketletter
17. Contract obligations – 09.30.13
Loans and financing
R$ million
2013
37.838
2014
2015
2016
155.266
141.271
131.957
72.046
After
2017
2017
111.346
Energy Purchase
Contracts
2013
2014
2015
2016
2017
After
2017
R$ milhões
MWh
425.864
4,162,535
452.382
4,049,207
463.607
3,878,205
502.696
3,982,189
583.026
4,373,618
109,318.941
282,429,935
18. Default – more than 90 days – 09.30.13
Class
R$ Million
State utilities
Industrial
Residential
Commercial
Others
Total
19. Number of employees
91.469
18.349
28.055
20.280
23.482
181.635
(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
1Q13
2Q13
3Q13
412
1
1
56
722
1,192
409
1
1
24
751
1,186
413
1
0
1
7
705
1,127
1Q13
2Q13
3Q13
59
16
188
263
57
15
188
260
58
1
0
0
7
182
248
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
1Q13
1,455
Number of employees
2Q13
1,446
3Q13
1,375
195
Marketletter
19.3.By departments
Department
Field
Administrative
Number of employees
2Q13
1Q13
796
659
792
654
3Q13
735
640
20.Complementary work force
Operational
1Q13
2Q13
3Q13
998
1,267
998
21.Turn-over
1Q13
2Q13
3Q13
0.58
0.38
3.378
196
Marketletter
Balance Sheet
(R$ thousands)
Assets
Current Assets
Cash and banks
Consumers
Taxes and social contribution
Reimbursement rights
Stored materials
Collaterals and linked deposits
Service in course
Others
09.30.13
12.31.12
22,593
158,459
12,580
92,656
7,228
565
14,215
8,471
316,767
75,332
228,302
7,664
54,264
6,288
90,998
5,369
4,736
472,953
31,840
1,168,070
64,692
10,957
789,430
5,823
1,809
28,084
88,614
2,189,319
2,506,086
24,077
901,029
58,785
7,435
614,023
14,660
1,809
27,800
95,372
1,744,990
2,217,943
Non-Current Assets
Consumers
Compensated rights
Collaterals and linked deposits
Taxes and social contribution
Financial Assets (concession)
Others
Investments
Property, plant and equipment - net
Intangible
Total Assets
197
Marketletter
Liabilities and Stockholders’ Equity
Current Liabilities
Suppliers
Taxes and social contribution
Debt charges
Loans and financing
Reimbursement obligations
Estimated obligations
Sector charges
Others
Non-Current Liabilities
Suppliers
Taxes and social contribution
Loans and financing
Reimbursement obligations
Provisions for civil, labor and fiscal risks
Provisions for onerous contract
Resources for capital increase
Others
Stockholders’ Equity (not covered)
Social Capital
Accrued losses
Total Liabilities and Stockholders’ Equity
09.30.13
12.31.12
302,841
33,200
4
83,335
10,471
41,314
186
29,363
500,714
326,069
45,753
1,469
63,236
10,090
13,524
3,994
35,856
499,991
1,321,562
3,408
336,473
127,695
112,218
113,152
30,971
2,045,479
1,052,533
3,286
208,142
109,301
102,354
131,200
162,378
24,023
1,793,217
1,212,157
(1,252,264)
(40,107)
2,506,086
1,117,860
(1,193,125)
(75,265)
2,217,943
198
Marketletter
Statement of Income
(R$ thousands)
09.30.13
Net Operating Revenue
Operating costs
Electric energy costs
Electric energy purchased for resale
Charge on the use of the Electric grid
Proinfa
Operating costs
Personnel, material and thrid party services
Depreciation e amortization
Others
Third party services cost
Gross operating income
Operating Expenses
Service Results
Financial Result
Operating result before Law 12,783/13
Gains – Law 12,783/13
Operating result after Law 12,783/13
Income tax and social contribution
Loss for the period
773,727
(759,827)
(499,441)
(461,064)
(24,810)
(13,567)
(102,316)
(86,043)
(19,714)
3,441
(158,070)
13,900
(71,096)
(57,196)
(32,089)
(89,285)
30,146
(59,139)
(59,139)
09.30.12
689,769
(641,983)
(446,487)
(413,796)
(21,907)
(10,784)
(81,693)
(65,357)
(15,891)
(445)
(113,803)
47,786
(157,278)
(109,492)
(18,730)
(128,222)
(128,222)
(3,977)
(132,199)
199
Marketletter
Cash Flow
(thousands reais)
09.30.13
Cash flow from operational activities
Net Income (losses) for the period before taxes and social contribution
Adjustments to reconcile loss for the year with cash provided by operating activities:
Property, plant and equipment - depreciation
Intangibles - amortization
Net monetary variation
Financing charges
Provision for credits of questionable liquidation
Provision for other assets
Provision for liabilities
Provision for onerous contracts
Financing asset income
Write-off of financing assets
Write- off of fixed assets
Write-off of intangible assets
(Increase) decrease in assets
Consumers
Compensation rights
Sundry debtors
Services in course
Taxes and social contributions
Stored material
Prepaid expenses
Linked funds
Colateral and linked deposits
Other credits
Increase (decrease) in liabilities
Suppliers
Payroll
Taxes and social contributions
Estimated obligations
Provision for liabilities
Regulatory charges
Reimbursement Obligations
Consumers – various taxes
Others
Resources provided by operating activities
Cash flow from investment activities
Financing asset indemnification - acquisition
Investment - acquisition
Property, plant and equipment - acquisition
Intangibles - acquisition
Net cash used in investment activities
Cash flow from financing activities
Loans and financing obtained
Financing charges - payment
Loans and financing - payment
Advance for future capital increase
Net cash provided by financing activities
Net Increase (decrease) from cash and cash equivalents
Cash and cash equivalents – beginning of the period
Cash and cash equivalents – end of the period
09.30.12
(59,139)
(128,222)
1,171
21,467
15,599
22,721
(44,336)
1,835
(8,096)
(131,200)
(30,146)
794
1
98
(209,231)
1,323
17,246
24,172
12,181
24,346
(1,073)
(50,027)
107,749
(305,433)
(585)
(8,847)
(8,437)
(940)
1,766
(381)
86,938
3,970
(124,200)
(83,315)
(59,585)
(379)
(2,457)
159
(682)
1,505
3,894
(20,394)
1,445
(159,809)
240,835
44
(12,663)
27,745
(61)
(447)
18,774
631
2,493
277,351
(56,080)
(82,119)
1,675
6,416
6,214
(10,810)
386
272,027
1,085
3,778
198,652
(11,184)
(146,055)
(3,326)
(12,937)
(162,318)
(100,485)
24
(5,440)
(13,662)
(119,563)
160,634
(24,185)
(13,790)
43,000
165,659
(52,739)
75,332
22,593
10,485
(9,389)
(16,324)
(15,228)
(145,975)
169,972
23,997
200
Marketletter
Analysis of the result
The company's results presented in the 3Q13 a net income of R$ 13.7 million, reversing a net loss of R$ 73.3 million obtained in the 2Q13,
mainly driven by the gain of the new replacement value - VNR - and reversion of the onerous contract held with Termonorte II.
Operating Revenue
The energy supply increased by 5.6%, from R$ 272.8 million in 2Q13 to R$ 288.1 million in 3Q13, mainly driven by the increase in the electricity
consumption.
Cost of Electricity Service
The Electricity purchased for resale increased by 31.0% from R$ 160.7 million in the 2Q13 to R$ 210.6 million in the 3Q13, mainly due to the
cost of service charges from R$ 13.7 million in 2Q13 to R$ 42.4 million in 3Q13, a 210.0% variation.
Depreciation and amortization increased by 3.6% from R$ 6.7 million in 2Q13 to R$ 6.9 million in 3Q13, which showed no significant impact.
Personnel expenses decreased by 47.9%, from R$ 21.2 million in 2Q13 to R$ 11.1 million in 3Q13, due to the accounting of the Early Retirement
Program - PID in the 2Q13.
Expenditures with third party services increased by 10.5%, from R$ 14,1 million in the 2Q13, to R$15,6 million in the 3Q13, which showed no
significant impact
Operating Revenue (expenses)
Personnel expenses decreased by 42.8% from R$ 33.3 million in 2Q13 to R$ 19.0 million in 3Q13, due to the accounting of the Early Retirement
Program - PID in the 2Q13.
Third party services increased by 4.4%, from R$ 13.5 million in 2Q13 to R$ 14.0 million in 3Q13, which showed no significant impact.
The Losses on receivables increased by 483.5%, from R$ 14.6 million in 2Q13 to R$ 85.2 million in 3Q13, due to the transfer of unpaid bills from
the Rondonia Water and Sewerage State Company to the losses account.
The reversal of the onerous contract with Termonorte II increased by 576.0%, from R$ 14.6 million in 2Q13 to R$ 98.9 million in 3Q13.
Financial Results
Financial income decreased by 18.9%, from R$ 9.4 million in the 2Q13 to R$ 7.6 million in the 3Q13, mainly due to reduction of accrued arrears
of sold energy.
Financial expenses increased by 48.2%, from R$ 17.0 million in the 2Q13 to R$ 25.2 million in the 3Q13, primarily due to interest on loans and
financing held with Eletrobras.
201
Marketletter
Market Data
1. Generation Assets and Energy generated
Own assets
Plant
Installed Capacity
MW
Guaranteed energy
MW average
1Q13
2.6
2.0
5,117
SHU – Rio
Vermelho
Plant
Energy generated MWh
2Q13
3Q13
5,096
4,103
Location
(State)
Beginning of operation
End of operation
RO
Nov/86
10/12
SHU – Rio Vermelho
2. Electric energy purchased for resale
System
Unit
1Q13
2Q13
3Q13
Eletrobras
(SIN)
MWh
R$ million
MWh
R$ million
MWh
R$ million
511,165
64.6
361,951
53.7
876,116
118.3
549,099
71.9
352,099
71.6
901,198
143.5
549,099
82.4
352,099
116.8
901,198
199.2
Others
Total
SIN – National Interconnected System
3. Energy sold
Distribution to
1Q13
R$ million
MWh
State utilities
Industrial
Residential
Commercial
Others
Total
6.1
34.6
119.2
64.2
44.9
269.0
23,819
97,229
253,600
138,726
119,053
632,427
2Q13
R$ million
7.1
35.2
115.5
64.1
51
272.9
3Q13
MWh
30,727
103,699
270,561
150,850
130,205
686,040
R$ million
MWh
8.1
44.8
118.1
65.4
51.7
288.1
12,159
143,991
239,613
154,004
124,187
673,954
4. Number of Consumer Units Serviced
State utilities
Industrial
Residential
Commercial
Others
Total
1Q13
2Q13
3Q13
221
2,009
391,201
37,932
119,449
550,812
221
1,931
398,990
38,404
121,365
560,911
246
1,980
401,687
38,356
122,062
564,331
5. Network Expansion - number of new connections
1Q13
2Q13
3Q13
2,529
10,099
10,099
202
Marketletter
6. Substations
1Q13
2Q13
3Q13
57
57
57
7. Fuel used to produce electricity
Type
Unit
Diesel
oil
Litre
Amount
1Q13
R$ Million
17,840,000
36.0
2Q13
R$ Million
Amount
19,830,000
41.4
3Q13
Amount
R$ Million
19,873,000
41.4
8. Losses - %
1Q13
Technical
Commercial
Technical
12.74
13.69
12.74
2Q13
Commercial
13.38
3Q13
Technical
Commercial
12.74
12.86
9. Extension of distribution lines – 09.30.13
Tension kV
Extension Km
Urban Distribution Grid - Low tension
Distribution grid / Average Tension of distribution line - 13.8
Rural distribution grid – average tension 7.9 kV
Distribution line 34.5
Transmission line 69
Transmission line 138 kV
5,655
13,867
34,000
1,751.13
334.75
359
10. Extension of transmission lines – 09.30.13 - NA
11. DEC- Duration of interruptions - in hours
1Q13
2Q13
3Q13
8.72
8.87
9.83
12. FEC – Frequency of interruptions – Number of outages
1Q13
2Q13
3Q13
7.96
7.76
8.79
13. TMA – Average response time – in minutes
1Q13
2Q13
3Q13
273.84
264.93
246.60
1Q13
2Q13
3Q13
353.2
357.8
356.2
14. Average price – R$/MWh
203
Marketletter
15. Main investments – R$ million
Project
1Q13
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
2Q13
3Q13
2013 budget
19.62
9.48
19.60
0.00
3.59
15.47
14.43
14.12
0.00
4.48
7.84
20.83
21.89
0.00
4.27
47.8
199.8
37.8
0.00
39.1
0.28
52.57
1.13
39.3
1.13
55.96
10.7
335.2
16. Loans and financing – R$ million
Creditor
Balance
03.31.13
Balance
06.30.13
Balance
09.30.13
Due
Index
Eletrobras
275.3
423.0
426.3
2025
Finel / IPCA
17. Contract obligations 09.30.13
Loans and financing
R$ million
Energy Purchase Contracts
R$
MWh
2013
2014
2015
6,3
109,7
102,2
2016
87,3
2017
After 2017
52
68,8
2013
2014
2015
2016
2017
After 2017
517.9
3,322,735.5
1,086.0
7,031,728.8
1,198.8
7,268,659.5
1,270.1
7,479,232.5
1,380.6
7,738,120.9
4,735.9
23,591,903.7
18. Default – more than 120 days - 09.30.13
Class
R$ million
Public Utility Services
Industrial
Residencial
Comercial
Outros
Total
19.Number of employees
15.4
17.5
30.2
12.2
36.4
111.7
(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
1Q13
2Q13
3Q13
238
66
0
41
108
176
629
213
90
0
41
97
184
625
206
92
0
41
84
186
609
204
Marketletter
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
1Q13
2Q13
3Q13
59
24
2
10
32
91
218
31
51
2
10
33
91
218
29
51
2
9
28
92
211
19.2.By region
State
Number of employees
2Q13
1Q13
Rondônia
847
3Q13
843
820
19.3.By departments
Department
Field
Administrative
1Q13
Number of employees
2Q13
3Q13
629
218
625
218
609
211
20.Complementary work force
Operational
1Q13
2Q13
3Q13
1,048
1,408
1,198
21.Turn-over
1Q13
2Q13
3Q13
0.24
0.18
1.36
205
Marketletter
Balance Sheet
(R$ thousands)
Assets
Current Assets
Cash and banks
Consumers
CCC - reimbursement
Stored materials
Taxes to recover
Other Credits
Non- Current Assets
Consumers
Taxes to recover
Collaterals and linked deposits
Financial Asset
Other
Property, plant and equipment
Intangible
Total Assets
09.30.13
12.31.12
7,708
69,353
3,965
1,666
5,236
5,702
93,630
14,741
68,574
6,321
1,704
3,850
3,604
98,794
6,495
16,060
143,850
1,843
11,577
6,666
186,491
280,121
3,200
4,146
14,060
127,093
1,195
11,826
7,799
169,319
268,113
206
Marketletter
Liabilities and Stockholders’ Equity
Current Liabilities
Suppliers
Loans and financings
Taxes and social contributions
Estimated obligations
Related parties
Other
Non-Current Liabilities
Loans and financings
Reimbursement obligations
Related parties
Provisions for contingencies
Retirement benefits
Onerous concession
Research and Development
Stockholders’ Equity
Social Capital
Other comprehensive income
Accrued losses
Total Liabilities and Stockholders’ Equity
09.30.13
12.31.12
103,238
4,175
4,920
12,915
1,784
7,367
100,559
3,223
7,162
13,671
9,468
6,436
134,399
140,519
16,872
18,238
47,222
22,563
4,445
33,069
3,393
15,962
42,679
47,222
19,111
3,512
29,934
4,413
145,802
162,833
684,204
(4,088)
(680,196)
684,204
(4,088)
(715,355)
(80)
(35,239)
280,121
268,113
207
Marketletter
Statement of Income
(R$ thousands)
09.30.13
Net Operating Revenue
Operating cost
Cost with electric energy
Electric energy purchased for resale
Operating Costs
Personnel, Material and Third party services
Depreciation and amortization
Others
Construction costs
Gross income/loss
Operating expenses
Service results
Financing results
Net income (loss) for the period
136,704
(143,814)
(90,867)
(90,867)
(43,615)
(38,251)
(4,297)
(1,067)
(9,332)
(7,110)
39,540
32,430
2,729
35,159
09.30.12
130,631
(126,490)
(85,511)
(85,511)
(26,806)
(22,343)
(4,479)
16
(14,173)
4,141
(78,022)
(73,881)
(34,962)
(108,843)
208
Marketletter
Cash Flow
(thousands of reais)
09.30.13
Loss for the period
Expenses (income) not affecting cash
Depreciation
Intangible - amortization
Service debt charges
Post-employment benefits
Provision (reversion) for credit of questionable liquidation
Provision (reversion) for contingencies
(Increase) decrease in assets
Clients
CCC
Stored materials
Taxes to recover
Colaterals and linked deposits
Others
Increase (decrease) in liabilitites
Suppliers
Taxes to collect
Estimated obligations
Sector charges
Related parties
Research and development
Provision for contingencies
Onerous concession
Others
Cash flow from operating activities
Service debt charges - payment
Net cash generated by operating activities
Cash flow from investment activities
Financial assets
Property, plant and equipment - acquisition
Intangible assets (concession)
Net cash used in investment activities
Cash flow from financing activities
Loans and financing obtained
Loans and financing - payment
Net cash used in financing activities
Increase (decrease) in cash and cash equivalents
Cash and cash equivalents– beginning of the period
Cash and cash equivalents – end of the period
Increase (decrease) in cash and cash equivalents
09.30.12
35,159
(108,843)
1,204
6,565
1,433
933
(56,641)
(3,887)
(15,234)
885
5,937
1,465
50,409
(158)
(50,305)
59,061
2,356
38
(3,735)
(2,000)
(7,182)
48,538
(46,785)
(1,019)
310
(4,615)
(5,415)
(264)
(57,788)
2,679
(2,242)
(2,100)
(376)
(32,125)
(2,565)
7,339
3,135
4,196
(22,059)
11,245
(1,433)
(1,433)
9,812
89,045
1,498
2,549
(1,153)
6,483
544
1,392
3,250
920
104,528
(3,565)
(1,465)
(1,465)
(5,030)
(16,757)
(956)
(995)
(18,708)
(7,150)
(3,706)
(4,805)
(15,661)
3,720
(1,857)
1,863
(7,033)
14,741
7,708
(7,033)
2,224
(2,142)
82
(20,609)
79,666
59,057
(20,609)
209
Marketletter
Analysis of the result
Eletrobras Roraima presented in the 3Q13 a loss 16.7 % higher than in the previous quarter, from a R$ 7.8 million loss in 2Q13 to a R$ 9.1
million loss in 3Q13, mainly due to the increase in monetary liabilities (charges on energy purchased for resale and also other contingencies
update) which in the 2Q13 was R$ 1.5 million and increased to R$ 3.2 million in the 3Q13.
Operating Revenue
The supply of energy increased by 8.7%, from R$ 35.3 million to R$ 38.4 million, primarily due to increase in energy consumption.
Cost of Electricity Service
The Electricity purchased for resale increased by 4.9% from R$ 29.4 million to R$ 30.9 million, mainly due to an increase in energy consumption.
Depreciation and amortization decreased by 35.8 % from R$ 1.2 million in the 2Q13 to R$ 1.6 million in the 3Q13 mainly due to write-offs which
occurred in 2013.
Personnel expenses increased by 78.3 % from R$ 6.9 million, to R$ 12.4 million, mainly due to salary increases occurred in May 2013 (which
were recorded as retroactive from August 2013), the payment of the Profit and Gains and the Early Retirement Program – PID in 3Q13.
Expenditures with third party services decreased by 83.3 %, from R$ 6 million in the 2Q13 to R$1 million in the 3Q13, mainly due to the
contingency applied by the company.
Operating Income (expenses)
Personnel expenses decreased by 28.2% from R$ 12.5 million in the 2Q13 to R$ 9 million in the 3Q13, mainly due to the Early Retirement
Program – PID in 2Q13.
Provisions (Loans and Losses and Contingency ) decreased by 151.2 %, from a provision of R$ 10.8 million in the 2Q13 to R$ 5.6 million in the
3Q13 , mainly due to the write-off of electricity supplied to Companhia Energetica de Roraima - CERR during the months of March and April which
was duly paid in August, but had already been provisioned.
Financial Results
Financial revenues decreased 5.6 %, from R$ 8.2 million in the 2Q13 to R$ 7.7 million in the 3Q13, mainly due to reduction of values in financial
applications and also due to debts settled by the Energy Company.
Financial expenses increased 40.3 %, from R$ 3.3 million in the 2Q13 to R$ 4.6 million in the 3Q13, mainly due to the increase in monetary
liabilities (charges on electricity purchased for resale and also other contingencies update) which in the 2Q13 was R$ 1.5 million and increased to
R$ 3.2 million in the 3Q13.
210
Marketletter
Market Data
1. Generation Assets and Energy generated
Plant
Installed
Capacity MW
Floresta
Distrito
40MW
20MW
(IPPs contract)
Energy generated - MWh
1Q13
2Q13
3Q13
Beginning of
operation
End of
concession
8,883.42
15,898.15
5,677.08
14,149.97
3,853.21
15,491.01
Apr/2010
Apr/2010
Apr/2014
Apr/2014
2. Electric energy purchased for resale
System
Eletrobras
Total
Unit
1Q13
MWh
R$ million
MWh
R$ million
2Q13
200,880
37.5
200,880
37.5
3Q13
200,818
37.5
200,818
37.5
198,163
36.9
198,163
36.9
3. Energy sold
1Q13
R$ million
Distribution
to
State utilities
Industrial
Residential
Commercial
Others
Total
4.5
0.9
26.3
10.2
2.0
43.9
2Q13
3Q13
MWh
R$ million
MWh
R$ million
MWh
22,688
3,413
76,099
33,680
10,064
145,944
4.2
0.9
25.5
9.9
1.7
42.2
24,125
3,694
80,506
36,209
9,112
153,646
4.6
0.8
23.5
9.7
1.7
40.3
26,625
3,469
75,567
36,007
9,113
150,781
4. Number of Consumer Units Serviced
State utilities
Industrial
Residential
Commercial
Others
Total
1Q13
2Q13
3Q13
64
355
80,611
8,765
3,635
93,430
64
347
82,808
8,746
3,716
95,469
68
341
83,148
8,762
3,713
96,032
5. Network Expansion - number of new connections
1Q13
2Q13
3Q13
1,908
2,431
2,208
6 .Substations
1Q13
2Q13
3Q13
3
3
3
7. Fuel used to produce electricity
Type
Unit
Diesel oil
Litre
million
Amount
6.9
1Q13
R$ million
Amount
17.3
10.9
2Q13
R$ million
27.1
Amount
5.47
3Q13
R$ million
13.62
211
Marketletter
8. Losses - %
Technical
8.07
1Q13
Commercial
Technical
4.15
2Q13
Commercial
8.07
3Q13
4.72
Technical
Commercial
8.07
4.64
9. Extension of distribution lines – 09.30.13
Tension kV
Extension Km
138kv
69kv
34.5kv
13.8kv Urb.
13.8kv Rural
127/220V
0
70.53
41.57
695.46
1,266.93
1,304.46
10. Extension of transmission lines – 09.30.13 – NA
11. DEC- Duration of interruptions - in hours
1Q13
2Q13
3Q13
1.91
3.35
4.72
12. FEC – Frequency of interruptions – Number of outages
1Q13
2Q13
3Q13
2.21
6.31
9.17
1Q13
2Q13
3Q13
66.78
60.90
81.07
13. TMA – Average response time – in minutes
14. Average price– R$/MWh
1Q13
2Q13
3Q13
301.14
274.86
266.91
15. Main investments – R$ 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
1Q13
2Q13
3Q13
2013 budget
1.63
0.00
0.85
0.26
5.42
0
1.81
1.88
2.63
0.00
0.28
1.02
29.89
5.89
9.47
6.39
0.52
1.73
1.33
8.14
0.03
0.02
0.00
0.01
1.66
0.5
0.02
0.36
0.12
5.92
0.32
0
0.04
0.28
2.95
5.50
0.58
0.23
4.69
35.39
212
Marketletter
16. Loans and financing – R$ million
Creditor
Balance on
03.31.13
Balance on
06.30.13
Balance on
09.30.13
Date Due
Eletrobras
Eletrobras
Eletrobras
Eletrobras
Eletrobras
Eletrobras
Eletrobras
Eletrobras
Eletrobras
Eletrobras
Eletrobras
Eletronorte
5.6
4.04
4.9
1.4
0.15
0.12
1.2
1.8
1.7
0,0
0,0
6.7
5.22
4.04
4.63
1.34
0.14
0.11
1.21
1.73
0.06
0,0
0,0
4.40
4.85
4.94
4.31
1.27
0.12
0.10
1.2
1.7
0.5
0.5
0.9
1.78
07/2016
11/2018
07/2016
08/2016
09/2015
09/2015
01/2019
10/2019
05/2026
05/2026
05/2026
11/2013
Index
Interest 10% py + Adm fee 2%
Interest 5% py + Adm fee 2%
Interest 10% py + Adm fee 2%
IGP-M + Interest 10% py + Adm fee 2%
Interest 5% py + Adm fee 2%
Interest 5% py + Adm fee 2%
Interest 5% py + Adm fee 2%
Interest 5% py + Adm fee 2%
Interest 5% py + Adm fee 2%
Interest USA py + Adm FEE 2%
Interest 0.5% py + SELIC
IGP-M + Interest 10% py + Adm fee 2%
17.Contract obligations - 09.30.13
Loans and financing
R$ million
2013
2014
2015
2016
2017
After 2017
2.7
5.3
5.8
4.0
1.7
2.67
Energy Purchase Contracts
2013
2014
2015
2016
2017
After 2017
R$ million
MWh
153.73
624,150
155.450
625,860
200.607
1,007,476
275.31
1,090,101
301.15
1,149,592
2,759.62
6,024,529
18.Default – more than 120 days –09.30.13
Class
R$ million
State utilities
Industrial
Residential
Commercial
Others
Total
14.99
0.72
1.07
0.74
31.13
48.65
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
1Q13
2Q13
3Q13
18
63
0
0
25
44
150
18
63
0
0
25
44
150
18
59
0
0
25
40
142
213
Marketletter
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
1Q13
2Q13
3Q13
10
95
0
0
9
22
136
10
95
0
0
9
22
136
09
95
0
0
9
22
135
19.2.By region
State
Number of employees
2Q13
1Q13
Roraima
286
3Q13
286
277
19.3.By departments
Department
Field
Administrative
1Q13
Number of employees
2Q13
3Q13
150
136
150
136
142
135
1Q13
2Q13
3Q13
235
235
235
20.Complementary work force
Operational
21.Turn-over
1Q13
0.003%
2Q13
0
3Q13
0.01%
214
Marketletter
Balance Sheet
(R$ thousands)
Assets
Current Assets
Cash and banks
Return on investments
Fiscal assets to recover
Legal deposits
Non-current assets
Long-term assets
Fiscal assets to compensate
Legal deposits
Investments
Property, plant and equipment
Intangible
Total Assets
09.30.13
12.31.12
52,986
1,250
1,157
9
55,402
63,804
946
945
21
65,716
2,741
48
2,789
2,741
1,743
4,484
94,181
32
20
97,022
152,424
113,178
33
12
117,707
183,423
215
Marketletter
Liabilities and Stockholders Equity
Current liabilities
Stockholders remuneration
Payable accounts - Eletrobras
Tax obligations
Estimated obligations
Non-current liabilities
Provisions for fiscal and administrative risks
Income tax and social contribution - deferred
Stockholders equity
Social capital
Legal reserve
Additional Proposed Dividend
Equity adjustment
Accrued losses
Total liabilities and stockholders equity
09.30.13
12.31.12
549
27
16
593
3,194
401
153
220
3,968
8,815
8,815
1,697
16,075
17,772
118,054
2,991
16,964
5,007
143,016
152,424
118,054
2,991
9,581
31,057
161,683
183,423
216
Marketletter
Statement of Income
(R$ thousands)
09.30.13
Operating Revenues
Dividends
Equity participation
Operating Expenses
Personnel/fees
Materials and Products
Traveling expenses, transportation, training
Third party services
Publicity
Taxes and contributions
Rent, Condominium Installments and Municipal Taxes
Operating reversion (provision)
Other
Operating Result Before Financing Result
Financial Revenues (Expenses)
Financing revenues
Financing expenses
Financial Result
Income before income tax and social contribution
Income tax and social contribution
Net income for the period
Net income per share (basic and diluted)
09.30.12
2,206
2,355
4,561
10,332
4,026
14,358
(1,677)
(49)
(33)
(465)
(505)
(525)
(61)
1,713
(90)
(1,692)
2,869
1,376
2,934
(803)
2,131
5,000
5,000
0.4251
(1,892)
(52)
(148)
(811)
(597)
(218)
(60)
(86)
(3,864)
10,494
10,503
4,954
(1,000)
3,954
14,449
(203)
14,245
1.2109
217
Marketletter
Cash Flow
(thousands Reais)
09.30.13
Operating Activities
Net income for the period
Adjustments to reconcile net income to net cash provided by operations:
Depreciation and amortization
Equity income
Provisions
Wriet-off of property, plant and equipment
Sub total
(Increase) decrease in operating assets
Investment remuneration
Financing assets to compensate
Increase (decrease) in operating liabilities
Taxes and social contributions
Payables
Estimated obligations
Redemption of administrative deposits
Cash flow from operating activities
Finacing activities
Dividend payment
Others
Cash flow from financing activities
Investment activities
Property, plant and equipment asset aquisition
Redemption of administrative deposits
Cash flow from investment activities
Reduction in cash and cash equivalent
Cash and cash equivalent in the beginning of the period
Cash and cash equivalent in the end of the period
Reduction in cash and cash equivalent
09.30.12
5,000
14,245
8
(2,355)
(1,712)
941
10
(4,026)
3
10,232
(2,205)
(211)
(2,416)
(9,236)
(116)
(9,352)
(129)
148
(214)
(194)
1,732
63
(205)
105
(29)
(127)
752
(12,775)
7
(12,768)
(22,472)
107
(22,365)
(15)
1,902
1,887
(10,818)
63,804
52,986
(10,818)
(3)
13,864
13,861
(7,752)
71,695
63,943
(7,752)
218
Marketletter
Analisis of Result
Eletropar presented, in 3Q13, income of R$ 2.6 million, representing a growth of 480% in relation to 2Q13, when an income of R$ 0.5 million was
recorded.
In 3Q13 there was a revenue of R$ 0.6 million concerning dividend income distributed by the investee CPFL Energia. Eletropar didn’t obtain, in
2Q13, revenue from dividends derived from its investments.
Eletropar presented, in 3Q13, a positive result of equity, resulting from the evaluation of investee CTEEP, amounting to R$ 1.6 million.
Additionally, a gain of investee EMAE was recognized in relation to 2Q13, totaling R$ 0.2 million. Eletropar presented, in 2Q13, a positive result of
equivalency equity resulting from the evaluation of investee CTEEP, amounting to R$ 0.1 million. Additionally, we recognized a gain of equity of
investee EMAE in relation to 1Q13, totaling R$ 0.2 million.
Regarding the operating expenses, we can be observe a reduction in third-party services, travel and training, marketing and taxes in the order of
40%, 60%, 95% and 83%, respectively, compared to the values registered in 2Q13.
The Provisions and reversals represented a loss of R$ 1.7 million in 2Q13 and 3Q13, due to a reversal of a tax contingency in 2Q13.
Regarding financial results a reduction of 93% of expenses can be highlighted, from R$ 0.7 million in 2Q13 to R$ 47,000 in 3Q13. This fact was
due to the recognition of expenses with fines in 2Q13 due to the completion of administrative proceedings by the municipality of Rio de Janeiro.
219
Marketletter
Market Data
1. Investments – 09.30.13
Company
CTEEP
Eletropaulo
EMAE
Energias do Brasil
CPFL Energia
2. Number of employees
Type
Amount
Participation (%)
PN
PNB
PN
ON
ON
999,663
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
1Q13
2Q13
3Q13
3
3
6
3
3
6
3
3
6
2.1.By region
State
Number of employees
2Q13
1Q13
RJ
6
3Q13
6
6
3. Complementary work force
1Q13
2Q13
3Q13
6
6
6
220