1. 1

2. &'' (
' +* *)(
) **(
** * **(
"+,-&( "&.) +(
0 /(
) 0
) **(
** ) **(
** ' /(
- .
, /(
/ ,
") **(
** ") **(
** "' / (
- .
"+/+)(
0, -(
"& &&(
$ %
$ ! %
0 -)
0 ( "$"
) **(
** * **(
") **(
** ", ' (
* 0
! " #
1 2 3
2
/& % 5
6 7 8 %
&// '9
8. !2 %
:;
: <
) 8 ,=>
/-.
: &8)
,.
:
1 4 !
?@ /**& /**+ /**. 2
" 6A% )
, ,
+8&/ ,8 '
.&' , )
-8-, ++ !
?2 0&,
8 * -8/
,) -8+&
, ! ; 2
2 3% 6 < .0
? -(
/
B " )' ,
8/ /)
8&+ /&'
8 )
" ! @) + :
? /
/
B " = / '
+ ( / -(
+ / -(
'
/- )++ ,,
0 ! #
" $ " %
"
2

3. C
"# ' ( " ))*
6A% ?@
)-( ). )& -&
/*( ')(
=6 /*
//(
1 /*
/,( 4
/)
/,( 6 "
1
/.
/-( +0(
9?
"1
.,
,*( /0
+ &(
+/( ,'
+/
+,(
?6 &.
&0)( !% : C
&
% %
B " ! @+*+ )
? ) *0 ) ,
D 8, ( 3 %
) *.
D
! ! @) + .
? . 8 ! ! @/ )
? +
) *0
D
) *.
D
! 3 % " "= D
E ! @) + ,
? /
? ! @,
? ** F 2 = 8 / %<
)
!2 ! G )-/( G )/*(
H ! . -
: L 2 ? : I *&J . /
) J **0 < ! ; 8
5 % ;
2 *+J J **0 ;
*, / : ! @) * &
? ,
2 4 /
K **.
*
3

4. 6A%
2 = 5 2 6A%
-8 *
*.
00 +
8. 0-&/
8
0.
8*. 0. &
8) 0.
8-)
0&/
8 + 0&&'
8
H ! !
2 8% 2 5
&/( % )/ %
+2.7%
/ *+
D , *+
D &D*+ ) *.
D / *.
D , *.
D &D*. ) *0
D
'+0
8 /
', 0
8)
+0.5%
0-)
8 - 0-+'
8
+5.5%
,)
8-)
,*)
8 ,
/+.
8 * /+.
8 )
-8.2% +14.2%
).
8&0 )0 ,
8)
)+)
8 / )+**
8
+1.0%
+'' .*+
? : 4 = 5 " = 5
1%
) *.
D ) *0
D
+
4
( " = 5 ) *0
D ?2 3 %" M4 F
3,000.0 )+/
/
125.0
) 0)
)
2,500.0 )+/
)
) ,&
)
) )
- ( ) ),
) 115.0
2,000.0
)&( )0 .
8) )0 ,
8)
).
8+& ).
8+-
-* +( )+**
8
105.0
1,500.0
95.0
1,000.0
85.0
500.0
2
0.0 75.0
4 ) *.
D / *.
D , *.
D &D*. ) *0
D
4 4 6A% " ;?@
,
4

5. )**(
-*( /**.
.*(
&*( , 6
(
)(
'(
.
/*(
*(
/**& /**+ /**. ) *0
D
! 2
1% N
3 %" . ))/ ) / " "
-
1 % %
2 ( ? N/ 4 5 $4
-4.8% +2.5%
) +
, ' *
' ' )
' ) /
*)
) '
/ ) -
/ ' +
0 ' 0
-
) *
/ ) /
/
0* .& ., +0
++
.+ .+ .+ .+ .+
/**& /**+ /**. ) *.
D ) *0
D /**& /**+ /**. ) *.
D ) *0
D
" %
4 : ? ) *0
D
) *0
D . 1' 2 3 )& /
. $ " )* "# . 14 2
" 3 )) -/
! " !
? < % 2
. +&0
))) " +0
))) "
) *.H ) *0
D D
. &0)) " # "%
. ( " )+0
))) )*0
)))
. $ . " +)0
))) + 0
)))
)
5

6. 2
) *0 ? -00
D N @
?@
&*& .(
,-
0 '(
&' /-(
,*
, +-
,,
)-(
/*(
,++ )(
'
,'
)
/0
'
--
)0
2 H
0) ! " %
!4
/**& /**+ /**. ) *0
D
=
H !4
;
? 2
1%
F " ! 2
!
,*(
/+(
/*( 18.6%
14.3%
)+(
11.6% 11.5%
)*( ) '
. ( 2.1%
) -(
)
0,( ''(
+( ).(
,.( & -(
/+( )0( ).(
*(
;& ,(
;+(
/**/ /**, /**& /**+ /**.
Part B Part A PIS/COFINS IGPM
2 " !!
/**+ /**. > (
?J
@ =A%
? " , .
*- , 0
*+ ;*'(
"? /++
/ / '
&' G ) -(
*
1== ? / ..
0 / )
-+ G ,)(
1 ?
" / )&
/ / /-
, G+ /(
""
1 / )-
0 / '
-) G ,0(
6

7. " !?
! /**0
(6
1 = ) %
. 8 % " !?
! N
?@
PART A 5,469.91
PART B 2,170.44
"? N A ; H N
Remuneration 768.66 +8 - .
*' & ) *-(
+
Model Company 840.01
Bad Debts 50.25
? N
Depreciation 511.52 6 1 ? N
?
)8 -)
)-. , &,(
)
Other Revenues (42.62)
Required Revenue 7,597.73
Verified Revenue 8,031.96
Req. Revenue / Ver. Revenue -5.41% H N
Financial Effects (1.62) . 7 !. 1 ' 8 " #
Financial Effects -0.02% . 7 6 !. 9 " " $
Total Tariff Reset -5.43%
?
6 ?2 1 H
$< $<
+3.0% -6.4% +5.0% -2.9%
/'
8&0
/0 *
8. /0 *
8. ), +
8. )&*.
8 ), +
8.
/. '
80 )/ '
8'
))
8--
)*,
8 / )*-,
8 )*-,
8
)*,
8 &
'&) )*&,
8 )*&,
8
).
8&0 ). 0
80 )0
8+' ). 0
80
,+- ,/
/ ,/
0 ,/
/
) *.
D ) *0
D &D*. ) *0
D ) *.
D ) *0
D &D*. ) *0
D
?2 !1 ?2 1 H G"
! *(
, ) *.
D N ! * -(
) ; :
. " " &/ " 76 H ) *.
D N
! ))*
0 . " $< )) #6 ! 0
"
. " +/ ! " ": " 4; ! " " =! >
) -/ 7 6 ))*? "
0 ) / "
/ 7 "6 ))+
" 0
? ! * *(
) :
H ) *.
D N
. $ &/ @! "
& /
7

8. "
?@ ) *. M
D ) *0
D &D*. M ) *0
D
" &/ -
, ,)
' &, )
, ,)
'
?" -), -/) -,& -/)
4 . +
* / 0
. . &
* / 0
.
2 ;?" ) -
. +, )+ +,
B " +-/& +*+ ) +0 &
- +*+ )
B " = , &(
+ , )
* ( , '
/ ( , )
* (
? ;) ,
, ( ? ;) 0
/ (
&
?
4 ? !
$< $<
) *.
D ) *0
D &D*. ) *0
D )+ .
. )+ .
.
+67.2%
/ ,
+ / ,
+ ' *
'
&)+ +560.1%
-38.9%
-79.2%
/ )
+
) )0
/ ) *.
D ) *0
D &D*. ) *0
D
2 !% ! = ! '
' ( ) *0
D
N
. ! " / " " 3 . 9 "% ))*0! # !
$ !" "
4 # ! ' " ! " " " " 6= ! !
'
$ *, */ 2"
= 0 1 9 0 !!
= "# " "
!$ & *
< " # 6 $ ,*
< 0 ' =
'
)) " ))*
( $< + 1A #%
( BC "
D # 4
*
8

9. :
% " H "
6 : < ) *0
D
$<
; / *(
+
; '.(
&8 *
-, &80
0& 6 ;
&8*.
. &8 ) &8*.
&) .
+* *(
/(
) /*( /(
0 /*(
,.
8+-
,,
8*. ,,
8*. 4H ?
) +(
)
?@
0(
' -*( -*( J :
0(
,
, -(
. ).(
4 N ? /, &
@ 8'
&D*. ) *0
D ) *.
D ) *0
D 2 N ? )' &
@ 8'
N ?@ /-
)
" " :
: % % < )/ % 2 2 !
+ && + &- + &.
) ))/ ) /
*& -(
6 :N ! +( ? ) - +
, @ . ) )
*) -( ' /(
0 0
) .(
*/ , &
' .(
) )
-) ))/
:N ! + *( ? )):
/ @
+) ))/ ,-) ,'*
4 N ).( !
&) ))/
! ? ,
@ ** –= 8 **0
/ N ) ))/
– $ " "
4 # ( ; , / ( ;
) ))/ )
)/
) *.
D / *.
D , *.
D &D*. ) *0
D
– " " "
4 # & & & 6"
2 ;( O 2 !;
+
= %4 3
?@ ) *.
D / *.
D , *.
D &D*. ) *0
D
% - &, * - +*+ )) .
8.
1 %6 *,+ *& + & + .&
,
2 ) ,, +& ,& '+
4 H - ,& +* - )-0
C & & &, 0)
4 H ), ,& && &-
"H + *+ , '0
4 %4 3 * , -- )+
,
4 % &, * - +*+ 0** ),
8*)
1 %4 3N ! @-'0
? " 8 %
% % "= D
4 H N ; ! % - % :
? . 0
@ , ? ; : ? &+ ,
@
4 H N 3 H % ! 8 % !
% : 3 %4
,
9

10. ! ! @) + .
? . ) *0 ? ) +
D 8 @ &* % %
% % ! ) *.
D
? ! + *(
/ : % )/
%
! :F 2 !! ,0 ++
? : I ! ;
2 = , 8 **0; ? ) * &
/ @ ,
2 4 /
K **.
-
10

11. " #1 2 3
2
,* H / '
*/
) %
* % " #8 8
= 6 P 2
! 8+)=A8
/.
/(
) !% %
!7
)**( !
; 3 %
1 4 % % : / +
*)
?@ /**& /**+ /**. B ! !
6 6A% ) 8&,
)' )8
/-+/ )8 +
/&0
6 ;=
?2 '-) )/ *
8/ ),
8-0 ! **( ! %
)
" 00
0 ''
, )*'
8 0
/**.
" = 0 /
' ( 0 *(
0 0 )
' (
//
' ++. .&
)
C
) "# 5 " ( " ))*
; =A ?@
& *( &'(
,+( /)(
AES Tietê ) ,
) (
) -(
/ ) *(
/
) )
. ( CHESF
Furnas &.(
.'( CESP
Itaipú '+(
Cemig - GT ) 0
- (
) .
& (
''( Tractebel
Copel - GER -)(
Eletronorte
) ,
* ( Duke
) ,
) ( - +(
) .
* ( / )
* (
" # /+( ! C E" % '%
C
" )
% * . ,
/ ( . ' =A
+8&) !%
C ) ' 0=A
*+8/
!"
11

12. % %
!+)
) (
" ! @/ /
? -0 8 ' % %
& ( % ) *.
D
) *0
D
! @) * +
? . 8 ! *(
+
3 %) *.
D
! @) * +
? . 2 83% %
)**( !% : ) *0
D N
: L 2 . $ *
< 0
))) !"
. $ ++
< 0
))) !"
< ) *0
D
6 < =A 2 ;6A%
+15.1% &8 ,
*'
) .
&+ (
) / ) ' ) + ) ) )0
*' ( *. ( ) ( ) ( ,++0
8 ,+
)
' .
0 (
-* 0( )0
0
'-
0
)-'
8 +
.+
/
)&.
8 0 )&/
8 &
), /
8' ), ,
8.
)/
8+-
)*&*
8
/0
8++ /-**
8
/**) /**/ /**, /**& /**+ /**. ) *0
D
6 ; =A 2 6 J ) *.
D ) *0
D
=? J
!+)
) ( ! < ? ) ,-0 =A%
! @ , J
6 3 &+ .( :2 % =? ! < ? 0&0 =A%
! @ J
)/ + =A
80 ! O< ? ) / J
! @ ' 0 =A%
6 3 % ! )/
. ( 2
J=? O) *0 2
D
12

13. H
) *0
D
H < ) *0 ? ) /
D N @ *
. ! " 4 " C)+ "" 6 / .
+ ( ,)(
" 0 #" E " "
L
) ,
- (
)-( 3
4 H;/**0 ? 0 +
N @ +
. $< 3( ! "!6 =
" " ! 2 1
F " 2" "
# ! 0! 6= ' " " " " " 6 ,BG 2
. $ **
< 3$ " " #" # ! "
+)/(
. $< + 3 4
. $ ,
< 3 1
2 ?@
0 +
+
2 3
. E H ' ! "!6 =
" ! 2" $ 7" 0 !" "
= " &.+
" " 6 & B " " " , -+B
G 4 # G "
/ +
0
#0
6" 4 ' I H.
6 " 4 / '
)
$< & 6" ) &
/ ) /
*
/**, /**& /**+ /**. ) *0 /
D **0
&
H ?L
?L N : )+( &** =A 8
: 8 **0
/ N
. " #! " " " 6 ! 2" 2 1 ?
F "
. #6 ! #
" = " 0 " 2 1 0!
F " #! # "# " " &
6"
? % N
. 2" 2 1
F " . !6 " "" "
4 ' 4 " ! " "
. 5" 6
. JI = B ! 2 K H= L )0 ,M
" , )
! " # % 62 !7 N
. 2 ! '# " " ! " " 6 & 6" #! 2 >=
"" %
6 6" 6 4 0 #" ! "
. ! 0 ! " ! !
" 0" 2 >= ' "
! '# "
. I " = '#" = ' " "
"% 7 62 2 % ! 3
2 N
. ! 6"
. 2 ! '#" " 0 ! "' 6 ! ! '
" 4
% % 7 62 %2 !
" #3 % % !
*
13

14. ?
?2 1 H
$< $<
+3.0% +3.9% -5.3% +4.8%
, -
+' , -
+' '&
, /
&' , &
&. -' -'
-+
), - -
-
)- ). ). ).
+ & + &
), ). )* ).
)&
/* )0 )0
/0 ,/ /0
/&
) *.
D ) *0
D &D*. ) *0
D ) *.
D ) *0
D &D*. ) *0
D
3 % 1 H
? 2
1% O
) *0H ) *.
D D ) *0H ) *.
D D
?2 ) *0
D , !
( ) *.
D N ? ! ,
+ (
) -/ " #" 76)* ! #6 H
! '" " " % % H ) *.
D N
" * +/ ! 4 '" #6
$ # " " "" $<
": ! # ! B M(
! $ (
" $N ! ! #E
"
# " 4 #6 " '6 " C)+
) &/ /" ! " "! #
" ! !
" # "
#$ % &' % % ( (
+
?
"
$<
0 &(
- 0 -(
' -* /( 0 -(
'
+4.7% / /
-0 +3.2% / /
-0
/ ,0
0 /-*
0
) *.
D ) *0
D &D*. ) *0
D
) *0H ) *.
D D ) *0H &D
D *.
. 1 " '" " " . $4 '" # ":
6
! # B M(
! $ (
7 6 ))*
0 ; ) -/
. 5 " 4 #6 ! #!
. * +/ " '" #6 '" " "
": ! # B M(
! $ (
. H= " " "
,
14

15. ?
4 ?
$< $<
43.8% 44.6%
47.7%
) *.
D ) *0
D &D*. ) *0
D 44.6%
+5.0% -2.8%
)*+
. )+)
. )*+
.
) '
+/
/ &
,
/ *
' / *
'
-23.9% , . +16.3%
&
) *.
D ) *0
D &D*. ) *0
D
) *0H ) *.
D D ) *0H &D
D *.
. 4 N " ' * ,/
6 . " ), "# !
" 6 ! " " ( "
4 # "#
+ / C)* -/ C)+ . 16
" $ *) &
< 4 0 !!
=
))/ ! " #
. 4 H 3 " , -/ '" C )+
' "6
" " # =! 5 B
1 ) +/
/
-
:
% 2 : $? .
@ -. = %/
8 **0
in R$ million
=
Montante Vencimento Custo Garantia
), ''
8, '" B6 )
"0 5 B ; )/
1 " $ 4'
"
) '
) 9 ( 2 0) + 5 B ;*/
1 " $ 4'
"
:
$ B
<
,/H
: :J "
/*H
)&H
*0H *.H *.H
)&*.
8
)/
8+&
)*'
8 .
..
0 .-/ .)
.
/**/ /**, /**& /**+ /**. ) *0
D
)
15

16. %4 3
?@ ) *.
D / *.
D , *.
D &D*. ) *0
D
% +-, ,& +++ *+ .)
'
1 %4 3 +) ), -) ,) /--
2 & * , )*
4 H , & - ).
C &) & &.
"H & ) * /*
/
2 L -& )& ;
4 %4 3 & + ) + &
4 % ,& +++ *+ *- .-0
" !
% %! 3 ) *03
D 2 ? &
@ 8 % !@
?
/*
/ ! "H :
2 &D <
*. L ! : % % 3
% !? Q 8 %
3 ! =A
+/ 2
/ ' =A !
- 0
6 3 &. % %
( %
" ! @/ /
? -0 ) *0 & ' % %
D 8 ( % %
/**. " ! '-(
0
0 &(
- ) *.
D
! @) * +
? . 2 83% %
)**( !"
) *0
" #% : C 3 ! 2
H 8 % F
16

17. ANNEXE
C
B : ( ""
" !
Generation Transport Distribution Free Clients
)&
/ &* .& -&'!
)(
. 2 = 3 , "
&0 A% : 2 N
).
8*& %2 /**. – '4 BG
) 6
*. A R/ *
, +'== 2 N
5> – " &)) :
G
0(
, 2
. + /!6 ) &8-.5
' / ! º !
. / ! " %
? : " ! B
!
. / " !
2 3 % 2
. / @!
" !
! 2 !
"3 4
? !2
2 ;! 2
!
! ? :
5
2 : 2
5
! – 6 ;=
H 2 %
?
2
! ! ! )#
17

18. C 6 3%
( % ! K
? :
@ "A%
,+ &**
,-(
&.( ,+*
,* & +(
+,( &0(
,+(
;0'( ,**
/+
/+*
/*
/**
)+
)+*
)* &,( ),( /0( ))( +0( ,0( /'(
)**
*+ +*
; *
/*** /**) /**/ /**, /**& /**+ /**.
6
)" ! * &
C ? 4 3 5
" !
!
" !?
!
B ?"
B ! ! !
! "3 2 !
% ! 5 3% 2 ! < H Q
3 % /**0
?
?2 ( % L N . ' "
. I "" "
# ' . # "
. #1 !
6 " . 54 " " " '"
. # "
6
$E P ' " D "
4
÷ 4
. 2 ( "#
! . 54 " = = "
'"
1" ; BG!
. 11 '= "! " "
1" " ! '6
. B " "
" # ' . 9 " #
. @B
N . " ":
6 . 9 6 # " '" " "#
. "
H
. ( "$
" "
. 1" " '6 " " JO
9" K !" ": # = !
#" =! H
?
; HA
?! <1 =
I
*
18

19. C
= !=
==
!
9 "
C ? %
2 ?
=
B #6 6 $# " " 4 1" #
6
1
C "
1
% :
:
C
4
+
C
&8 .5 S
+/
+ + == /. =A8 *
8+) )
&8)
,. /-+
)(
. 3 % /&( 3 %
/**. N, ) 6
-8-, A%
4 N6 ' 8 /5 S
'+)
.'
, =A8) ))==
+0 -)*
&.( 3 % )**( 3 %
: /**. N .' & 6
80 A%
6
,
19

20. " #
) ' ;) '
'0 '' /***;/
***; **/ /**, /
; **& /**+;/
**+; **.
)'
'- /*** /**, /**+
. 14 %
" " . 2 " #" . 2 . > "6
" "E * / I 2 ' #
" D . " "" #"
4 #!" ! # "6
)'
'' /**.
"
. 14 %
" " . " ""
/**) .9 " "
> #
. 2 " " !
4 %
" "
= ! > . " "6
#
/**/ /**& . "
.$ # ' ))/ "
. 2 "
" '
= !
"
-
"% % 3 % % : 8
B ! 8 3% ! :
% H ! = ! ! %
% % 5 :%2 % !
!
CT ! 3 %
5 8 % % ! :B %
20