Annual And
Sustainability Report
Eletrosul
Annual And
Sustainability Report
Eletrosul
ADMINISTRATIVE BOARD
Valter Luiz Cardeal de Souza
EXECUTIVE BOARD
Eurides Luiz Mescolotto
Chairman
Director-President
Eurides Luiz Mescolotto
Cláudia Hofmeister
William Rimet Muniz
Celso Knijnik
Dinovaldo Gilioli
Antonio Waldir Vituri
SUPERVISORY BOARD
Sônia Regina Jung
Antonio Gomes de Farias Neto
Suzana Teixeira Braga
Chief Financial Officer
Chief Administrative Officer
Ronaldo dos Santos Custódio
Director of Engineering
Chief Operating Officer
Eletrobras’s Mission (GRI 4.8)
To operate in energy sector in a integrated, profitable, and sustainable manner.
Eletrobras’s Vision
To be, by 2020, the largest global clean energy corporate system with profitability
comparable to that of the best companies in the electric utility sector.
Eletrosul’s Strategic Positioning Declaration
Eletrosul 2020: a competitive and sustainable company, standard of excellence
in electric power generation and transmission.
Eletrobras’s Values
• Results-oriented
• Entrepreneurship and innovation
• Appreciation for and commitment to people
• Ethics and transparency
Eletrosul’s Ethics
I Human Dignity and Respect for People
II Integrity
III Sustainability
IV Transparency
V Impersonality
VI Legality
VII Professionalism
Summary
1. Message From The Administration
2. About This Report
3. Company Profile
4. Corporate Governance
5. Economic And Financial Dimension
6. Social Dimension
7. Environmental Dimenson
8.Awards
9.IBASE
10.Perspectives
11.Acknowledgment
12. Financial Statements And Notes
7
13
19
43
61
93
133
157
163
171
175
179
Conceição Lagoon – Santa Catarina
“A piece of land ,
lost at sea!...
On a piece of land ,
Peerless beauty...
Never had nature
Gathered so much beauty
Never been a poet
With so much to sing
...
Your beautiful Lagoon
Tenderness of pink
Poem by moonlight
Crystal where the light vain
Charmingly serpenting
Come to mirror...”
Rancho de Amor à Ilha
Cláudio Alvim Barbosa (Zininho)
Sierra Rio do Rastro – Santa Catarina
1. Message from the
Administration
(GRI 1.1; 1.2)
Sierras are rugged terrain with high elevations, often applied to asymmetric cliffs,
alternating between steep and mild slops. It varies from 0.4 to 1.8 miles in length and
its present throughout Brazilian territory, even though Brazil does not have mountains,
but mountain ranges. It distinguishes itself from a mass because its mountains aren’t
clustered. Sierras are also of great value to the fauna and flora of our country.
1. Message from the Administration (GRI 1.1; 1.2)
The year of 2012 was marked by important
events for Eletrosul, starting with the company
repositioning in the hydroelectric generation
market , with the beginning of operations of
Usina Passo São João (77 MW), in Rio Grande do
Sul, and of Usina Mauá (361 MW), in Paraná. At
the same time, Eletrosul continued to contribute
resources corresponding to its participation
in structural projects for the country, like the
plants in Jirau and Teles Pires.
As a landmark in Eletrosul’s business extension
beyond the customary states of operation,
the works of second circuit of Transmission
Line of Porto Velho (RO) - Araraquara (SP) were
triggered and the Substation of Porto Velho was
delivered, important feature of the complex
of plants in Rio Madeira. All these enterprises,
set up in the Growth Acceleration Program
(PAC, in Portuguese) strengthen the Federal
Government commitment with sustainable
development of Brazil, from a clean and
renewable energetic matrix.
The delivery of the Eolic Complex of Cerro
Chato and the beginning of the works in the
surrounding parks, in Sant’Ana do Livramento,
and of the Eolic Complex of Geribatu, in Santa
Vitória do Palmar, all in the state of Rio Grande
do Sul, were also facts that reaffirmed the goal
of Eletrosul in becoming one of the greatest
players in wind energy in the country.
In transmissions, we initiated the extra high
voltage lines installation, connecting the states
of Paraná, Santa Catarina and Rio Grande do
Sul, between Substation of Salto Santiago and
Substation of Santa Vitória do Palmar. This line
will be approximately 1.3 thousand kilometers
long and will be important to enhance the
power supply in Rio Grande do Sul.
Still in 2012 we took an important step toward
becoming also a reference in solar electricity
generation with the implementation of the
Megawatt Solar – the first large-scale power
plant integrated with a public building.
Annual And Sustainability Report Eletrosul 2012 |
9
The year of 2012 was one of big changes
for the electric sector, specially due to the
announcement of the Provisory Measure n.º 579,
that created a favorable scenario to accelerate
the rate of economic growth of Brazil, with more
competitive fares for the industrial sector and
cheaper electricity bills for the population. This
measure gave us plenty to discuss, reconsider our
business strategies and seek greater efficiency.
Eletrosul’s good operational performance in
the recent years has encouraged the company
in the definition, by the Ministério de Minas
e Energia (MME), of the new value of Receita
Anual Permitida (RAP), from the extension
of the concession of its assets. Eletrosul was
the transmission company that had lowest
reduction of tariffs because the MME took into
account the quality of the services provided.
In the technical references, which grounded the
MME in defining the new RAP’s, the Agência
Nacional de Energia Elétrica (ANEEL) created a
ranking between the companies, establishing
the classification in five groups of quality, based
on the relation between revenue and variable
amount. Eletrosul was the company that achieved
the best performance and the only to be classified
in Group 1, presenting as reference, in terms of
Variable Amount, for the calculation of Receita
Anual Permitida (RAP) of the other companies.
Such recognition is the result of our effort and
commitment with the quality in the public
service of electric energy transmission and not
only confirms the technical competence of the
Eletrosul’s employees but also validates the
operations and maintenance policies adopted
by the company.
10
Board of Directors
| Annual And Sustainability Report Eletrosul 2012
Guided by the principles of corporate
efficiency and social-environmental
responsibility, the company continued, in
2012, investing in these areas, committing
to the preservation of the natural resources
and to the reduction of social and regional
inequalities. We emphasize the development
of Programa Hortas Comunitárias, a strategy to
maintain and secure areas under transmission
lines. These are actions that provide productive
and social inclusion through education and
awareness for the communities under risk of
irregular occupation and that enhance quality
of life by a healthier diet.
Believing in the expansion of clear energy in
the country has guided Eletrosul to a level of
trust and credibility with major financiers.
Until 2012, the balance of loans with reputed
organizations, such as the German fomentation
bank KfWBankengruppe and the Banco
Nacional de Desenvolvimento Econômico e
Social (BNDES), had been superior to BRL 2
billion. That same year, the company secured
funds of approximately BRL 121.75 million with
BNDS and BRL 113.85 million with Eletrobras.
Add to this scenario the incorporation of own
contributions from the holding that summed
up to BRL 2.2 billion, boosting Eletrosul’s social
capital to BRL 3.7 billion.
In 2012, the company invested BRL 2.4 billion
in generation and transmission ventures and
investments made by subsidiaries in generation
and transmission. And so, believing in the
country’s energetic potential and making
necessary adjustments to the new directions of
the electric sector, that Eletrosul prioritizes the
commitment with its future and Brazil’s future.
Executive Board
1. Message from the Administration (GRI 1.1; 1.2)
Message to the
shareholders
The administration of Eletrosul Electrical
Central S/A, in compliance with the
Brazilian corporate legislation and
statutory provisions, presents the
Administration Report and Financial
Statement corresponding to the 2012
fiscal year and the expert opinions
issued by Independent Auditors and
the Supervisory Board.
This report also presents the most
relevant information concerning
corporate performance, with figures
that demonstrate the consolidation
of the company as a transmission
utility company and independent
power generator – with consistent
work to promote economic and social
development in its area of operation.
The company administration, in order to
meet the expectations of the government,
its shareholders, clients, partners and the
community where it operates, provides
additional clarification as necessary.
Annual And Sustainability Report Eletrosul 2012 |
11
Porto Belo Bay – Santa Catarina
2. About this
Report
Bays are indentations of the coastline where the sea advanced towards the interior of the
continent. Portions of sea or ocean surrounded by land, as opposed to a Laguna, Bays hold
economic and strategic importance since they are usually ideal locations for construction
of ports and docks.
2. About this Report
Eletrosul publishes its Annual Management
Report to inform the public about the major
results of its activities and decisions and,
since 2008, it has published the Socioenvironmental Responsibility Report, intended
to the regulatory agency of this sector: Agência
Nacional de Energia Elétrica (ANEEL).
Since 2011 the company has chosen to use the
guidelines proposed by the Global Reporting
Initiative (GRI) to elaborate both reports that,
arranged in the same document, has been
called Annual and Sustainability Report. This
decision aimed at incorporating international
standards in reporting models and to
attend administrational needs, government
specifications, and the standards mandated by
Eletrobras holding, continuing the relationship
and communication process in a transparent
and efficient manner with all strategic
audience. (GRI 3.2; 3.3; 3.11)
The application of the GRI methodology in the
sustainability report also intends to improve
the quality and transparency when reporting
the Eletrosul performance and management
practices, seeking a positive and comprehensive
in the business world.
Thus, this document outlines the main
practices adopted by the company, in line
with the Strategic Plan of the current
administration, and the respective
performance in the economic, social and
environmental dimensions, from January 1st
until December 31st 2012. (GRI 3.1) The data
presented were based on periodic surveys
conducted via specific performance indicators,
as well as on the study of internal documents
and interviews with managers of the
institution. (GRI 3.5, 3.7, 3.8)
Apart from the economic data, this balance does
not include indicators of the Special Purpose
Companies, which holds more than 20% of
the controlling interest. In their totality, these
companies are treated independently in terms
of administration.
Annual And Sustainability Report Eletrosul 2012 |
15
The report covers all administration with
major operations of Eletrosul, which is based
in Florianópolis and operates in the states of
Rio Grande do Sul, Santa Catarina, Paraná, Mato
Grosso do Sul and Rondônia. (GRI 3.6, 2.7).
GRI Application Level
GRI/G3 – SELF DECLARED
sustainability report issued by the
Eletrobras holding, which will be
subject to assurance review. (GRI 3:13)
Economic-financial Indicators
Indicator
Eletrosul self-declares having reached GRI/G3
application level B in its 2012 sustainability
report. This publication included 88 indicators.
The total number of indicators presents 51
essential indicators, 29 additional indicators
and 19 sector indicators. The report also
describes 42 profile indicators.
In line with the concept of sustainability, for
the first time Eletrosul has opted to print a
limited number of reports in order to save
natural and financial resources. A complete
and interactive version of this report can be
found at www.eletrosul.gov.br, in English,
Portuguese, and Spanish. Eventual comments
or doubts concerning this report may be
sent to Eletrosul Management Advisory
(Assessoria de Gestão Empresarial - ASG),
using the following contact points (GRI 3.4) :
(48) 3231-7690 or (48) 3231-7131 or via e-mail:
[email protected].
Initially, the indicators and the information
reported in the GRI model will not undergo
an assurance process. However, considering
that the report will also disclose information
contained in the Management Report,
part of this information will undergo
external assurance review. Still, almost all
of the indicators will be included in the
16
| Annual And Sustainability Report Eletrosul 2012
2012
1,969.7
Net Operating Revenue
1,824.9
Gross Operating Income
799.6
Net Income
68.5
Total Assets
12,667.8
Net Equity
4,659.8
Current liquisity ratio (%)
Thrid party share capital* (%)
2012
3.07
43.02
Net margin (%)
5.72
Return on equity (average) (%)
1.36
EBITDA (BRL Milhões)
*
BRL Million
Gross Operating Revenue
Indicator
Classification:
• Economic (EC) – 08;
• Environment (EN) – 26;
• Labor Practices and
Decent Work (LA) – 15;
• Human Rights (HR) – 07;
• Society (SO) – 09;
• Product Responsibility (PR) – 04;
• Electric Utility Sector - Specific (EU) – 19.
1,004.8
AFAC was considered for Net Equity.
Environmental Indicators
Indicator
2012
Number of employees trained
in environmental education and
awareness programs.
31
Percentage of employees trained
in environmental education and
awareness programs.
2.00
Number of students assisted in
environmental education and
awareness programs.
16,583
Investment in R&D Related to
the Environment (BRL Thousand)
1,058.3
Investments in Culture, Sports,
and Tourism (BRL Thousand)
2,634
Investments in Health
(BRL Thousand)
4,116
2. About this Report
Social Indicators
Indicator
2012
1,546
Total number of employees
9.38
Employees up to 29 years of age (%)
Employees between 30 and 50 years of age (%)
66.11
Employees over 51 years of age (%)
24.51
Number of women in relation to total number of employees (%)
17.34
Women in managerial positions - in relation to the total number of managerial positions (%)
13.33
Black female employees (black and mixed race) - in relation to the total number of employees (%)
0.52
Black male employees (black and mixed race) - in relation to the total number of employees (%)
5.30
Black male employees (black and mixed race) in managerial positions in relation to the total
number of managerial positions (%)
2.22
Interns in relation to the total number of employees (%)
14.17
Employees hired from the apprentice program (%)
5.30
Number of employees with disabilities (%)
1.68
Annual And Sustainability Report Eletrosul 2012 |
17
Dunes on Joaquina Beach – Santa Catarina
3. Company
Profile
Dune is a hill of sand created from aeolian processes (related to wind). When the wind
blows, it resolts sand, over time, form dunes. Dunes aren’t necessarily large, many of them
are very small. The valley between dunes is called slack.
3. Company Profile
Brand Evolution
3.1 History
Founded in 1968, Eletrosul Electrical Central S/A
began its history as a state-owned company,
overcoming financial downturns in the electric
utility sector and deep political transformations
in the country. In 1998, as part of the
privatization program being undertaken in the
country, the company’s generation area was sold
to the private sector, and Eletrosul was left only
with the Power transmission business.
In 2004, after a difficult period, the company
(which remained a subsidiary of Eletrobras)
received a permit to resume its energy
generation business and has been developing its
activities with a strong focus on sustainability.
After all, the electric utility sector, especially
in relation to hydroelectric generation
developments, has a strong environmental
and social influence upon the surrounding
community. Hence, methodologies and
technologies have been developed to mitigate
and/or compensate for socio-environmental
effects arising from the undertakings.
Headquarters
Annual And Sustainability Report Eletrosul 2012 |
21
Eletrosul’s Timeline
1968 to 1974
•• Electric Centrals of South of Brazil– Eletrosul
S/A is founded – a subsidiary of Eletrobras,
operating regionally, headquartered in Brasilia
with its main Office in Rio de Janeiro.
•• The company starts its energy production and
transmission activities in the states of Paraná,
Rio Grande do Sul, and Santa Catarina.
•• Construction of the hydroelectric Power plants
of Salto Osório and Salto Santiago, both in the
Iguaçú River, in Paraná, using pioneer and
systemic work to reduce environmental
impacts and preserve natural resources.
•• Construction of the transmission
system interconnecting the three
states of the southern region.
•• 492 operational kilometers of transmission lines.
•• Start-up of Passo Fundo Hydroelectric Power Plant.
1975 to 1979
•• Start-up of the first units of the Jorge Lacerda
Thermoelectric Complex and UHE Salto Osório.
•• Expansion of 1,637 km of new transmission lines.
•• The headquarters and the main Office of the
company are transferred to Florianópolis (SC).
1980 to 1984
•• Mato Grosso do Sul is included in
Eletrosul’s are of operation.
•• The company’s nominal installed capacity
for power generation reached 3,222 MW. The
transmission lines, in different voltages, total
6,047 km. The transformation capacity reaches
4,662 installed MVA, in 15 substations.
1985 to 1989
•• Creation of the Board of Directors, a joint
committee with deliberate purposes that shares
corporate management with the Executive Board.
•• Another four substation become operational,
adding 1,706 MVA to the capacity.
1990 to 1994
•• Eletrosul launches a program to
implement auto-control in sixteen
230 and 138 kV substations.
•• The Center for Citizen’s Initiatives
against Poverty and Hunger and for
Life is formed as result of the solidarity
offered by Eletrosul’s employees.
•• The Uruguayan Frequency Converter is
launched, interconnecting the Argentinean
and Brazilian electric systems of up to 50 MW.
1995 to 1999
•• Eletrosul is included in the National
Privatization Program (PND).
•• Launch of Jorge Lacerda IV UTE (Thermoelectric
Power Plant) with 350 MW capacity, increasing
the company’s Power generation capacity by
11%. Jorge Lacerda, with its four units totaling
832 MW, becomes the largest thermoelectric
complex in Latin America.
•• Eletrosul becomes a Power transmission
company, with approximately 30% of its original
size, and closes the year with 1,325 employees.
•• Eletrosul, as the first federal state-owned power
transmission company, also begins to temporarily
operate as the National Electric Power System
Operator (NOS) for the southern region.
•• Toppling of 13 towers of the Areia-Campos
Novos transmission line (TL) (525 kV) due to
wind with gusts in excess of 170 km/h.
Recovery works were conducted by a team
of 248 people around the clock and in
partnership with other companies in the
sector, enabling the reconstruction of the
towers in 13 days, setting new domestic record.
•• Implementation of Santo Ângelo Substation (RS).
2000 to 2004
•• The company resumes its participation in
the Power generation segment in March 2004
(Law 10,848), concurrently with the approval of
the New Model for Electric Sector.
•• The company is authorized to conduct
emergency works to reconnect the island to
the national interconnected system due to an
accident occurring during the maintenance
of the distribution network, which caused
a blackout in the island portion of the city
Florianópolis lasting 52 hours.
•• The company receives the Valor 1000 Award,
offered by the Valor Econômico newspaper,
as the company with the best performance
in the electric sector.
•• The regional office in the state of Paraná is
recognized in the bronze category of the 2002
cycle and in the gold category in 2003 and
2004, of the Federal Government’s Brazilian
National Quality Award (PQGF) from the
Federal Government’s Quality Program,
coordinated by the Ministry of Planning,
Budget, and Management.
•• Eletrosul’s first Social Audit is published.
2005 to 2009
•• Launch of the new Eletrosul System’s
Operation Center (COSE), one of the most
of 30 MW each, located in the municipality
of Sant’Ana do Livramento in the state of
Rio Grande do Sul.
•• The company receives the Best Brazilian Power
Company Award, granted by the IstoÉ Dinheiro
magazine, for five consecutive years.
•• Eletrosul generates its first MWh from the
solar energy accumulated in the pilot plant
(photovoltaic cover) in its headquarters.
•• The company adheres to the
United Nations Global Compact.
•• Opening of the Efficient House, certified during
the launch of the National Energy Conservation
Label for households and multifamily buildings.
•• Full energy interconnection of the Santa
Catarina Island, via submarine cables, with the
National Interconnected System.
•• NBR ISO 9001:2008 certification -
Central Equipment Workshop and
recertification in the supply area
2010 to 2012
•• Eletrosul wins the bid for the Teles Pires
Hydroelectric Power Plant, with 1,820 MW
capacity, in Mato Grosso (Eletrosul has 24.5%
of participation, in other words, 445.9 MW).
•• Launch of the New Brand of the System
Eletrobrás and, consequently, of Eletrosul.
modern centers in the country.
•• Classified within the 150 best companies to
implementation of the São João Hydroelectric
• • One of the 58 companies to receive the
•• The company wins, in the new energy bid, the
Power Plant (77 MW) in Rio Grande do Sul.
•• The company wins the lot to build the Mauá
Hydroelectric Power Plant in the third new
energy bid in a consortium formed with COPEL.
•• ANEEL transfers the concession of the
São Domingos Hydroelectric Power Plant in
Mato Grosso do Sul, to Eletrosul.
•• The company wins, in a partnership, the bid
for UHE Jirau (the first undertaking outside its
area of operation) and three lots for the Madeira
River Transmission Lines.
•• Eletrosul, in a partnership with Wobben,
was the winner for the implementation and
exploration of the Cerro Chato Wind Farm
Complex, comprised of three complexes
work in Brazil by Guia Você S/A – EXAME.
seal of the 3rd Pro-Equality of Gender and
also one of 9 institutions to win the seal
for three years in a row.
2012 Highlights
Launch of UHE Passo São João
On 12/21/12 was launched the first Hydroelectric
Power Plant in the northwest oh the southern
region. With 77 MW capacity – equivalent to the
consumption of approximately 580 thousand
people, had its first unit in commercial
operation in March and the second in July. It’s a
part of the Growth Acceleration Program (PAC),
where were invested BRL 600 millions. It’s a
historic mark for the company as it represents
the reappearance of the company in the
sector of hydraulic power generation of
own undertaking.
Launch of UHE Mauá
On 12/12/12 was launched the UHE Mauá, in
Paraná. With 361 MW capacity of generation,
177 MW corresponding to Eletrosul, enough to
serve more than 1 million people. The plant is
operated by the Consórcio Energético Cruzeiro
do Sul, formed by Copel (51%) and Eletrosul
(49%), when together they invested BRL 1.4
billion in the undertaking, which is a part
of PAC. The plant was launched with two
of its five units operating commercially.
This launching marks the return of Eletrosul
in the electric power generation with the
first large scales plant.
Delivered to operations the first generation
unit of PCH Barra do Rio Chapéu
Since December 3rd Eletrosul has done the
procedures to fill the PCH Barra do Rio Chapéu
reservatory, in SC. On December 19th Eletrosul
delivered to operation the firts PCH generation
unit. The machine, which was already cashing
during the tests, waits the Operation License,
by Fundação do Meio Ambiente(Fatma), to start
commercial operations.
Entry of last generating units in
Complexo Eólico Cerro Chato
The entry of the last two generating units of
90 MW in Complexo Eólico Cerro Chato I, II,
and III was concluded on January 20 th 6 months
ahead of the ANEEL’s Schedule.
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| Annual And Sustainability Report Eletrosul 2012
New wind farms have works initiated
In January, with the access ready, the
implementation works of the new wind farms
of Sant’Ana do Livramento – Cerro Chato IV, V e
VI, Cerro dos Trindade e Ibirapuitã 1, of 78 MW,
were initiated. In December, all access, bases,
and platforms were already concluded. The
assembly of the 39 wind turbines is scheduled
to start in March of 2013.
Brazil and Uruguay signed the Record of
Management Commitments of electrical
interconnection undertaking
Eletrobras and Administración Nacional
de Usinas y Trasmisiones Eléctricas - UTE of
Uruguay, signed the Recod of Management
Commitments of electrical interconnection
undertaking between Brazil and Uruguay. In
Uruguay, one LT 525 kV is under construction,
with 65 km long; a frequency converter
station in Melo (60/50Hz), of 500 MW; one
LT 500 kV, with 283 km, and the expansion of
SE San Carlos. In Brazil, the project is in the
environmental licensing phase (lines and
substations), the executive projects of the lines
are being prepared and SE Candiota is in project
contracting, procurement and construction.
ELETROSUL, through a Partial Assignment
Agreement with Eletrobras has rights and
obligations relating to 39.6% of total works in
Brazil, being responsible for the implementation
of the transmission lines and the owner’s
engineering works in substations President
Medici and Candiota.
Elected employee representative
to Administrative Board
With 59,06% of votes, were elected, in the
election organized by the company and the
employees union, the employee’s representative
to the Administrative Board, and the surrogate.
The party got 675 votes.
Eletrobras at ISE for
the sixth consecutive time
For the sixth consecutive time, Eletrobras
is parte of the Indicator of Corporate
3. Company Profile
Sustainability (Índice de Sustentabilidade
Empresarial - ISE) of Bolsa de Valores de
São Paulo (Bovespa).
Disclosed new ELETROSUL RAP
by the Federal Government
Eletrosul’s shareholders unanimously approved
in the Extraordinary General Meeting held on
12/03/2012, the renewal of the concession of
the transmission assets, according to the new
rules of Provisional Measure 579. The Eletrosul’s
RAP value, taking into account the percentage
for PIS / COFINS and PASEP, will be BRL 447.5
million, representing a reduction of 50.1%
of the current revenue of the transmission
facilities and 35.7% based on the total
revenue, including generation. The amount of
compensation with unamortized assets will be
BRL 1.98 billion. According to the rules of the
Provisional Measure 591, Eletrosul will also be
compensated of non-depreciated assets of May
31st 2000, registered and recognized by ANEEL.
Eletrosul’s good operating performance, in
recent years, favored the company in defining,
by the MME, the new value of the RAP, which
becomes effective in January 2013, with the
extension of the concession of its assets.
Eletrosul was the transmission company that
had the smallest reduction of interests because
the MME calculations took into account the
quality of transmission services provided.
In technical references that supported the
MME in the definition of new RAPs, ANEEL
established a ranking between companies,
establishing a classification into five groups
of quality, from the relationship between
revenue and variable portion. Eletrosul was
the company that had the best performance
and the only classified in Group 1, serving
as reference in terms of variable portion for
the calculation of the RAP for the remaining
transmission companies.
Back-to-back of SE Coletora Porto Velho
transmits maximum power
The first unit of the high voltage system
of direct current HVDC – Back-to-back 2 –
concluded its tests on power transmission on
December 20th. According to the Porto Velho
Energy Transmission S/A (PVTE), 400 MW
were transmitted from the generation in Rio
Madeira to the system Acre-Rondônia, which
is connected to the National Interconnected
System (SIN). The maximum power transmission
successfully puts this substation - one of the
largest ever built in Brazil, with a total area
of approximately 524 hectares, equivalent
to 750 soccer fields.
Built the first tower
of “Linhão Madeira”
The Norte Brasil Transmissora de Energia,
formed by Abengoa (51%), Eletrosul (24.5%),
and Eletronorte (24.5%), has initiated the
construction of LT 600 kV Porto VelhoAraraquara 2. 2,412 km long, the “linhão”, which
Will bring power from the plants in Jirau and
Santo Antônio to SIN. The assembly of the
first tower of the LT (of 4,332 structures) was
concluded on September 14th, in the city of
Nipoã, in São Paulo.
New concessions of transmission
lines and substations
Eletrosul, in partnership with the Companhia
Estadual de Energia Elétrica do Rio Grande
do Sul (CEEE), scooped the main plot of the
transmission auction 05/2012 of ANEEL. The
projects of Batch A total BLZ 710 million and
are essential to integrate the southern region
of Rio Grande do Sul to the SIN. There are 490
km of transmission lines (525 kV voltage), three
new substations – Povo Novo, Marmeleiro, and
Santa Vitória do Palmar – to be implemented
by the Transmissora Sul Litorânea de Energia
(TSLE) and expansion of an existing unit. The
consortium, led by Eletrosul with 51% stakes,
won it with full fare: BRL 77.4 million RAPS.
Eletrosul has signed the concession that will
allow the Special Purpose Company (SPE)
Costa Oeste, Eletrosul (49%) and Copel (51%),
to strengthen the transmission system in
northwestern Paraná. It will be implemented
the LT of 143 km, 230 kV and the Substation
and Umuarama Sul.
Annual And Sustainability Report Eletrosul 2012 |
25
Eletrosul has signed two concession contracts of
concession that will enhance the SIN and give
more energy security to the South An undertaking
with approximately 800 km long transmission
lines and the substation Camaqua 3, which will
be built by Transmissora Sul Brasileira de Energia
S/A (TSBE), Eletrosul (80%) and Copel (20%),
and another undertaking related to LT 525 kV
Curitiba-Curitiba East, 28 km long, and Curitiba
Leste Substation, to be implemented by Marumbi
Transmissora de Energia, Copel (80%) and
Eletrosul (20%).
Solar Power Plant
On August 24th, Eletrosul signed a contract with
Consórcio Efacec Megawatt Solar to implement
the project Megawatt Solar – the 1 MWp
photovoltaic power plant to be installed in the
headquarters. It will be the first photovoltaic
solar plant connected and integrated to a
public building in Brazil.
Six Specific Purpose Companies (SPEs)
should be incorporated to Eletrosul assets
The administration was authorized by the
Administrative Board to incorporate the SPE’s
RS Energia, Porto Velho Transmissora de
Energia S/A (PVTE), Eólica Cerro Chato I S/A,
Eólica Cerro Chato II S/A, Eólica Cerro
Chato III S/A, and Artemis S/A.
Eletrosul concludes fiber optic network to
meet the National Broadband National
Program (PNBL, in Portuguese)
countries, in Rio de Janeiro, in order to discuss and
define the sustainable development agenda for
the next decades. Eletrobras companies had space
to present their projects at the booth set up by
the holding in the Athletes’ Park. Eletrosul showed
their investment in technological innovation,
energy efficiency, and clean energy generation
from alternative sources.
Launch of the second phase
of Project Alto Uruguaiana
To Recover waste from intensive swine farming
and turn an environmental liability into
an alternative source of energy: this is the
central purpose of the Project Alto Uruguai Citizenship, Energy, and Environment, designed
by Eletrobras and Eletrosul to serve the region
which accounts for approximately 35% of the
domestic production of swine farming. The
beginning of the implementation of socioenvironmental initiatives and to encourage
power generation from biomass and energy
conservation on 07/06/2012 was formalized
with the signing of the terms of cooperation
with 55 municipalities of Santa Catarina and
Rio Grande do Sul, which will be covered in
this second stage of the project. The planned
investment is more than US$ 11.5 million to be
invested over four years.
The PNBL can already reach the southern
region. Eletrosul has completed the
implementation of its optical communication
system of high capacity (DWDM), starting
in Araraquara, São Paulo, and going through
Paraná, Santa Catarina, and Rio Grande do
Sul, yielding the necessary infrastructure
so Telebras can provide internet at low
cost for these states.
Eletrosul in Rio +20
Eletrosul attended the United Nations Conference
on Sustainable Development – Rio +20, which
brought together delegations from 193 member
26
| Annual And Sustainability Report Eletrosul 2012
Pilot Plant Solar Energy - Headquarters
3. Perfil da Empresa
Eletrosul’s Energy System
ELETROSUL’S
ELECTRIC
POWER SYSTEM
71 Substations
01 Frequency Converter
7,061 miles of transmission cables
23,000 Towers
58,036 miles of cables
24,524 MVA transformation capacity
30 million people served
LEGEND
ELETROSUL SUBSTATION
525 kV transmission line Eletrosul
138 kV transmission line Eletrosul
OUTSOURCED SUBSTATION
OUTSOURCED SUBSTATION WITH OPERATION
AND/OR MAINTENANCE AND/OR SHAREHOLDING BY ELETROSUL
525 kV transmission line.
Outsourced with operation and/or
maintenance and/or shareholding by Eletrosul
138 kV transmission line.
Outsourced with operation and/or
maintenance and/or shareholding by Eletrosul
ELETROSUL HYDROELECTRIC POWER PLANT UNDER CONSTRUCTION
230 kV transmission line Eletrosul
69 kV transmission line Eletrosul
OUTSOURCED HYDROELECTRIC PLANT
230 kV transmission line.
Outsourced with operation and/or
maintenance and/or shareholding by Eletrosul
69 kV transmission line.
Outsourced with operation and/or
maintenance and/or shareholding by Eletrosul
WIND FARM
SOLAR PLANT
Date Updated: December 2012
Annual And Sustainability Report Eletrosul 2012 |
27
3.2 The Company
Presentation of general data and technical and
legal information of the company. (GRI 2.1; 2.2; 2.4; 2.6)
Full Name of Unit and Acronym
Corporate Taxpayer Registration No. (CNPJ)
00.073.957/0001-68
Legal Classification
Mixed Capital Company
Ministry Subordination
Ministry of Mines and Energy (MME)
Full Address of Headquarters
Rua Deputado Antônio Edu Vieira, 999, Bairro Pantanal
– Florianópolis, Santa Catarina, CEP 88040-901,
telephone +55 48 3231-7000, fax +55 48 3234-5678
Address of the Institutional Website
www.eletrosul.gov.br
Legal grounds for creation, definition of
competencies and organization structure,
bylaws or articles of incorporation, and
respective date of publication in the
Official Gazette (DOU)
Incorporated on 12/23/1968 and authorized
to operate by Decree 64,395 of 04/23/1969.
Prevailing Government Function
Energia
Type of Activity
Transmission utility company and Independent power
generation producer
Eletrosul Electrical Central S/A is a mixed
capital, privately held, transmission utility
company and independent power generation
producer incorporated in 1968 and authorized
to operate by Decree No. 64,395 of 04/23/1969. It
is asubsidiary of Brazilian Electrical Central S/A
Owners
(Eletrobras) and is subordinated to the Ministry
of Mines and Energy (MME). The company
presents, on 12/31/2012, a total of BRL 9.231
million (BRL 12,725.6 million when consolidated
with the assets of the SPE’s) in assets and the
following ownership structure (GRI 2.3):
Quantity
Social Capital
Participation (%)
Eletrobras
90,136,442
3,735,245
99.8619
USIMINAS
57,901
2,398
0.0641
CEEE
49,519
2,054
0.0549
Copel
14,195
587
0.0157
Celesc
1,544
64
0.0017
CSN
1,194
49
0.0013
320
15
0.0004
90,261,115
3,740,410
100.00
Others
Total
28
ACRONYM:
Eletrosul
Eletrosul Electric Central S/A
| Annual And Sustainability Report Eletrosul 2012
3. Company Profile
In addition, in 2012 Eletrosul gained 100% of
the controlling interest in Artemis and 75% in
Uirapuru, whose remaining 25% were assumed
by Fundação ELOS (GRI 2.8; 2.9).
The company is headquartered in Florianópolis,
state of Santa Catarina, and operates in Brazil
in the three states of the southern region, Mato
Grosso do Sul, and Rondônia, via partnership in
the Consórcio Energia Sustentável do Brasil (ESBR),
Norte Brasil Transmissora de Energia (NBTE), Porto
Velho Transmissora de Energia (PVTE), and Mato
Grosso and Pará, via partnership in the Consórcio
Teles Pires Energia Eficiente (GRI 2.5; 2.7; 2.8).
Concerning energy planning, the Ministry of
Mines and Energy, via the Energy Research
Company (EPE), is responsible for conducting
studies that support the Brazilian energy
planning, whether for market expansion
planning, power generation, or transmission.
EPE works in partnership with the agents
during the definition of the expansion of market
segments and transmission, where Eletrosul has
a strong presence, whether in the consolidation
of market data in the southern region of the
country or taking part in study groups that
define the expansion of the main transmission
systems in the country (GRI EU10; EU19).
With 1,546 employees, 469 outsourced workers,
and 205 workers with amnesty1, the company
conducts studies and projects, builds and operates
power transmission facilities, is currently
building power generation facilities, provides
telecommunication services, and conducts other
associated trade activities. In addition, it invests
in research and development, fostering the use of
alternative energy sources.
Eletrosul’s business portfolio includes the
transmission, generation, and trade of energy,
as well as the provision of other services
associated with the sector, such as the operation
and maintenance of transmission lines and
telecommunications. In the segment in which
the company operates the customers are mostly
power distribution companies that, in December
31st 2012, totaled 20.
1.
Employees that returned to service
on the term of Law Project 8.878, 11/05/94.
Efficient House Mosaic
Annual And Sustainability Report Eletrosul 2012 |
29
In line with the Federal Government’s
public policies, Eletrosul invested, in 2012,
BRL 82.7 million in its own transmission and
BRL 560.7 million in its own generation, which,
added to the investments in generation and
transmission developments via its subsidiaries,
totaled BRL 2.4 billion.
In 2012, Eletrosul repositions itself in the market
for electricity generation with the start-up
of operations of the first plant of its own,
Hydroelectric Passo São João, in Ijuí River, in Rio
Grande do Sul. The undertakings related to Porto
Velho Transmissora de Energia (PVTE) were also
concluded, comprising LT 230kV Coletora Porto
Velho/SE Porto Velho, and SE Coletora Porto
Velho 525/230kV, essential for the energy flow
produced in Amazon to the major consumer
centers in the country (GRI EU1; EU4).
Eletrosul’s predominant acting area comprises
the three southern states and Mato Grosso do
Sul. According to 2010 Brazil Regional Accounts,
from the Brazilian Institute of Geography and
Statistics (IBGE), this area of activity accounts
for approximately 17.7% of national GDP and
17.9% of the total market for Brazilian electricity,
housing a population of approximately 30.5
million inhabitants, representing 15.6% of
the population. Also accounts for 28.9% of
agricultural production, 21.8% of the industry,
and 20.8% of the industry’s national trade.
The association and institutions the company takes
part are described below (GRI 4.13):
• Brazilian Electricity Regulatory Agency
(ANEEL)
• National Telecommunications Agency
(ANATEL)
• Brazilian Electric Energy Concession
Association (ABCE)
• Brazilian Risk Management Association
(ABGR)
30
| Annual And Sustainability Report Eletrosul 2012
• Brazilian Technical Standardization
Association (ABNT)
• Brazilian Human Resources
Association (ABRH)
• Association of the Members of the
Forum of the State of Santa Catarina
for Ending Violence Against and Sexual
Exploitation of Children and Youths
• Brazilian Association of Power
Generation Companies (ABRAGE)
• Brazilian Association of Large Power
Transmission Companies (ABRATE)
• Brazilian Wind Energy Association
(ABEEólica)
• Brix Energia e Futuros S/A
• Electric Power Trade Chamber (CCEE)
• Brazilian Committee for the
Regional Energy Integration
Commission (BRACIER)
• Brazilian National Electric Power
Generation and Transmission
Committee (CIGRÉ–Brazil)
• Regional Nurses Council of
Santa Catarina (COREN-SC)
• Regional Medical Council of
Santa Catarina (CRM-SC)
• Foundation Committee of Corporate
Management (Fundação COGE)
• Eletrosul Social Security Foundation
(ELOS)
• National Quality Foundation (FNQ)
• Ethos Institute of Corporations and
Social Responsibility
• National Institute of Industrial Property
(INPI)
• Institute for the Development of
Alternative Energy in Latin America
(IDEAL)
• International Hydropower Association
(IHA)
• National Electric System Operator (ONS)
• Electricity Memory
3. Company Profile
3.3 Organizational Structure
Eletrosul’s organizational structure is
comprised of the respective levels and bodies,
presented below, and represented in the
company’s organization chart:
Senior Management
ANNUAL GENERAL MEETING – The Annual
General Meeting, convened and held
according to the applicable laws and to
Eletrosul’s Articles of Incorporation, has the
power to decide on all businesses conducted
by the company and to adopt the resolutions
it may deem appropriate to its defense and
development.
SUPERVISORY BOARD – Joint committee
responsible for inspecting the actions of
Eletrosul’s managers and for verifying the
fulfillment of their legal and statutory duties.
BOARD OF DIRECTORS – Eletrosul’s highest
joint committee, whose role is to establish the
company’s highest guidelines and policies.
EXECUTIVE BOARD – Joint committee
responsible for Eletrosul’s general management,
according to the guidelines established by the
Board of Directors.
PRESIDENCY AND BOARDS – Committees
responsible for planning, coordinating, and
controlling activities that are specific to their area
of operation, established by Corporate Law, in the
Articles of Incorporation and in the company’s
Organization Guidebook. It includes the roles of
Executive Assistant and Special Advisor.
Advisory
Bodies that provide support to the Board of
Directors, Presidency, and departments in the
preparation of strategies and action plans:
Audit; Advisory; Coordination Offices; General
Office, and Ombudsman.
Intermediate Management
Bodies that form the administrative units
organized by departments and coordination
offices, responsible for the implementation
of work programs and having operational
management bodies as their subordinates.
Operational Management
Bodies that execute previously established
work plans, referring to their specific activities,
organized by divisions.
Special Bodies
COMMITTEE – Permanent joint committee,
formally assigned through deliberation of the
Board, whose role is to analyze, study, propose,
and assess company policies.
COMMISSIONS, WORK GROUPS, AND TASK FORCES
– Temporary joint committees, formally assigned
through deliberation of the Board, whose role is to
analyze, study, propose, and assess alternatives to
solve specific problems of the company.
Special Bodies do not have subordinates.
The following is organizational
chart for Eletrosul.
Annual And Sustainability Report Eletrosul 2012 |
31
Organizational Chart
Shareholders’
meeting
Supervisory
Board
Board of
Directors
Internal
Audit
Executive
Board
Administrative
Office
32
Chief Financial
Office
Presidency
| Annual And Sustainability Report Eletrosul 2012
Operation
Board
Director of
Engineering
3. Company Profile
Administrative
Office
CFO
Management
Advisory to
Administrative
Office
Management
Advisory to CFO
Economic and
Financial Advisory
Coordination
of economic
evaluation of
projects financial
Coordination
of resources
capitation and
assessment of
shareholders equity
Department
of Supply
Management
Department
of Information
Management and
Infrastructure
Department
of People
Management
Department
of Planning
and Budget
Department
of Financial
Transactions
Department
of Accounting
Procurement
and Contracts
Division
Division of
Documentation
and Organization
and Methods
Division of
Benefits and
Personnel
Management
Division Planning
and Budget
Programming
Contract
Management
and Accounts
Payable Division
Accounting and
Asset Control
Division
Administration
Division of
Material and
Quality
Division of
Management
Information
Division of
monitoring and
developing staff
Management of
Budget Division
Treasury
and Accounts
Receivable Division
Division of
Tax Information
Contract
management,
insurance and
registration of
suppliers division
Division of
transport and
infrastructure
Security of work
and occupational
health division
Accounting
Information
Division
Annual And Sustainability Report Eletrosul 2012 |
33
Organizational Chart
Operation
Management
Presidency
Advisory Media
and Marketing
Secretary
General
Advisory Board
to Operation
Management
Business
Consultant
Legal Advice
Department of
System Operation
Advisory of
Energy Trading
Maintenance
Department
and Support
to Operation
Department
of Telematics
Advisory of Social
Responsibility
Coordination of
Administrative,
Environmental
and Energy
Operating
System Division
Technical and
Administrative
Coordination
Division
Engineering
Division of
Telecommunications
Maintenance
Programming
and Operation of
Telematics Division
Ombudsman
General
Coordination of
Employment Law,
Tax and Asset
Protection
Division and
System Studies
Regional
Division of
Mato Grosso do Sul
Division of
Engineering
Equipment
Maintenance
Division of
Supervision and
Operation Support
Division of
Standards and
Engineering
Operation
Regional
Division of
Paraná
Engineering
Division of
Transmission Lines
Maintenance
Regional
Division of
Rio Grande do Sul
Engineering
Division of
Measurement,
Protection and
Control Maintenance
Office Brasilia
Coordination
of Process
Control and
Risk Management
Regional
Division of
Santa Catarina
Regional
Division of
the West
Regional
Division of
Rondônia
34
Engineering
Department of
Maintenance
| Annual And Sustainability Report Eletrosul 2012
3. Company Profile
Director of
Engineering
Advisory Board
to Director of
Engineering
Advisory
of Regulation
and Business
Advisory
of Project
Implementation
Coordination
of Regulations
and Contracts
Coordination
of Business
Department
of System
Engineering
Department of
System Planning
Department of
Research and
Development and
Energy Efficiency
Department
of Generating
Engineering
Department of
Environmental
Engineering
and Land
Engineering
Division of
Protection
and Control
Transmission
Planning Division
Division of
Research and
Development
Engineering
Division
and Projects
Generation
Division of
Environmental
Engineering
Division
of Construction
of the System
Division
Generation
Planning
Division of Energy
Efficiency and
New Technologies
Division of
Coordination,
Planning and
Control of
Generation
Engineering
Division of Land
Division of
Electromechanical
Engineering
and Civil
Division
Generation
Works
Division of
Coordination,
Planning and
Budgeting
Division Hiring
and Management
of Generation
Control
Coordination
of Hydroelectric
Maua
Regional
Coordination
Program
Light for All
Division of
Contracting
and Contract
Administration and
Warehouse System
Annual And Sustainability Report Eletrosul 2012 |
35
Employee Profile (in 12/31/2012)
(GRI 2.8)
Eletrosul has a total of 1,546 employees and 205
workers with amnesty in conformity with the
law 8,878/94, which are lent to Bodies or Entities
of Federal Public Administration, totaling 1,751
employees. In 2012, 9 employees and 88 with
amnesty joined, 18 employees and 4 with
amnesty were dismissed.
3.4 System Reliability (GRI EU6)
The responsibilities, rules, and procedures
involving the operation of the system under
Eletrosul’s command and execution are
standardized in the Operation Guidebook, in
line with the Network Procedures established
by the National Electric System Operator (ONS).
The interventions for the electric system are
analyzed, documented, and optimized by a
shutdown programming team, aiming to
maximize system availability. In order to
do so, the company maintains an engineering
team specializing in electric studies, which
ensures operations within systemic safety
standards, aiming at reliability and
availability of its assets.
Eletrosul’s technical operators are
systematically trained and certified to, in
case of contingency, reestablish the system
as fast as pos sible. All maneuvers executed
in real time by the operation comply with
strict criteria developed to mitigate errors
and ensure reliability and availability of the
electric system. Eletrosul coordinates the
operation via Eletrosul System’s Operations
Center (COSE), which is divided into the
Transmission Operations Center (COT),
Generation Operations Center (COG), and
Telecommunications Operations Center
(CCT). Operation commands are executed by
Regional Centers for the Operations of Facilities
(CROI), aided by local operation assistants in
the facilities, with the possibility of back-up
operation via the Contingency Operations
Center (COC), which is centralized at COSE.
36
| Annual And Sustainability Report Eletrosul 2012
All occurrences in the system under the
responsibility of Eletrosul, whether untimely
shutdowns or operational procedures, are
subject to a detailed analysis through a routine
to analyze the performance of the operation
procedures. In this routine, the procedures
executed and the time for system recovery are
classified and assessed to improve the quality
of the operation. Moreover, the development of
the protections applied to Eletrosul’s facilities
is subject to a detailed analysis whenever
protections are required by the electric
system, ensuring efficiency and safety
for the transmission services.
Maintenance teams are decentralized and
their logistics and sizing are developed
systematically through analyses and
calculations performed by the company’s
Maintenance Engineering department. The
Technical Coordination and the Main tenance
Engineering teams perform systematic
analyses of the performance of the facilities
based on the data available in the management
systems. These analyses give rise to the
definitions of improvements and renovations
to be implemented in the facilities, aiming to
maintain system reliability.
Additionally, the company maintains
an enhanced inventory of spare towers,
equipment,and accessories, aiming to minimize
downtime, with no burden to the company’s
assets. Due to its excellent operational
performance, Eletrosul has presented one
of the best Variable Portion (PV)2 indices in
Brazil, according to the reports issued by the
National Electric System Operator (ONS),
maintaining a prominent position in relation
to other utility companies.
2.
PV, established by Normative Resolution
270/2007 issued by ANEEL, is the portion of
revenue deducted from Base Payment of the
Transmission Functions – FT due to downtime,
temporary operational restriction, cancellation
of interventions outside the established
program, and delay in the start-up of new FTs,
under the responsibility of the transmission
utility company.
3. Company Profile
3.5 Research and Development (GRI EU8)
As an ongoing process, development and
technical innovation are continuously
fostered by policies, strategies, and guidelines
bound to the company’s and the Eletrobras
businesses. Thus, the company seeks to
ensure the priority of its research on new
technologies in the power generation and
transmission areas to meet the demands
of a competitive environment.
Eletrosul has a Research, Development, and
Innovation Policy (P&D+I), in line with its
strategic planning, with relevance to the
country (defined by ANEEL) and with the
holding’s guidelines.
In compliance with the guidelines established
by Eletrobras’s Research, Development, and
Innovation Policy, the companies of the System
conduct consecutive meetings to assess the
actions and proposals for new research projects,
in addition to verifying potential cooperation
between companies.
The projects included in ANEEL’s Research
& Development portfolio are developed in
partnerships with renowned universities
and research centers, thus fostering conditions
for the generation of scientific knowledge,
technological development, and acquisition
of knowledge.
The partnership of over 30 years with the
Energy Research Center (Cepel) 3 enables the
holding of summits and technical meetings
and the conducting of specific projects,
including energy and economic/financial
studies of electric systems; supervision,
control, and protection of electric systems;
planning and electric operation; and
technology of transmission equipment.
Eletrosul’s technical teams are increasingly
present in research projects.
In relation to the R&D program, in 2012, Eletrosul
completed the following projects:
PV Analysis: assessment of the suitability of the
variable portion as a remuneration mechanism
for the quality of the transmission service;
Induction Energy: obtaining sources of energy
through induction in the lightning rods
installed along transmission lines;
H-Biogas: obtaining hydrogen through
the reform of biogas for conversion into
renewable energy;
Bio-oil: study of the use of bio-oil in
diesel engines for distributed
thermoelectric generation;
Water Monitoring: real time monitoring
of water quality at the reduced flow
section of UHE Passo São João, using a
wireless sensor network;
Replanting: reintroduction of
endangered species;
Of the ongoing R&D programs, we can
highlight the following:
Silicon Purification to Solar Degree: has
the objective to obtain purified silicon to
solar degree, which is the raw material to
build photovoltaic cells, to be used in solar
modules. It will enable the mastery of the
production chain to generate clean energy
from solar light.
Vinasse Treatment: development of a high
performance anaerobic digester system
to treat vinasse, in order to tap the Biogas
energy source, from the 2009 Program – R&D
ANEEL and developed in 36 months with the
Technology Institute to Development – LACTEC.
3. In partnership with Cepel, its being applied
a value similar to that established by Law
n. 9.991/2000 for technological development,
strengthening the innovation process.
Annual And Sustainability Report Eletrosul 2012 |
37
Treatment of Agricultural Waste: development
of research in the technology of biodigestion
to process the Brazilian agricultural waste.
The line of research aims to increase the
production of methane using new low cost
biodigestion techniques.
Passive Sensor Network: development of
a passive sensor network to measure the
integrity of equipment used in wireless
energy transmission systems.
Emergency Tower: development of
emergency tower prototypes.
Exploitation of Bauxite: intends to use the
plasma technology to develop a process to
treat the bauxite impregnated with insulating
oil. This is the bauxite that results from the
process of transformer oil regeneration.
It is toxic and needs to be discarded properly.
This treatment will transform the bauxite
Alto Uruguai Project
38
| Annual And Sustainability Report Eletrosul 2012
in a non-toxic material with possible
industrial applications.
Microbial Cell: development of a Microbial
Fuel Cell destined to electricity generation.
Aeolian Magnus: this project intends todevelop
a prototype of a wind turbine with horizontal
axle based on the Magnus effect.
Replacement of Battery Bench in Substation:
development of an electric backup system,
based on the use of hydrogen, capable to
replace the battery benches in substations.
Mobile Gauge: development of a high
sensitivity, selectability, portability gauge
system to use in the substations.
Circuit Breaker Monitoring: development of
a monitoring, detection, and diagnosys failure
system for high-voltage circuit breakers.
3. Company Profile
In addition to the R&D projects above,
Eletrosul also funds the development
of the following projects:
Eletrisol II: development of industrial processes
to produce solar cells with aluminum paste;
These actions are the result of a total
investment of BRL 2.6 million in research
and development in 2012. Thus, the company
reaffirms its commitment to contribute to the
education, study of new energy sources, and
sustainable development of the country.
Annual And Sustainability Report Eletrosul 2012 |
39
Sierra Aparados – Rio Grande do Sul
3. Perfil da Empresa
“All shades of green and
blue seems imprinted on
this side of Rio Grande ,
for my joy and torment.
I live with the roaring urge
to bring to my screen the
blue from these mountains,
sky, shade and lake;
the green from these trees,
hills, slopes e forests;
the transparency of these
waters, immensity and fogs;
this warm golden sun .”
Saga - Érico Veríssimo
Cerro Chato - Rio Grande do Sul
4. Corporate
Governance
Pampa is a biome characterized by a vegetation of grasses, creeping plants
and some trees and shrubs found near rare watercourses. The pampas are an
important contribution to the preservation of biodiversity, particularly by
mitigating the greenhouse effect and help control erosion.
4. Corporate Governance
Eletrosul fulfills its obligations, defined by the Law
of Corporations No. 6,404, in which it presents
its Senior Management instated by the General
Meeting, consisting of the Board of Directors,
Supervisory Committee, and Executive Board.
Aiming at transparency and publicity of its
administrative actions and contributing to the
effective social control of public management,
Eletrosul’s Ombudsman’s Office is intended to be
a permanent communication channel for workers
and for the public, contributing to the development
of the company, to civic awareness, and to the
preservation of individual and collective rights.
The function of the Internal Audit, linked
to the Board of Directors, is to advise the
Company Administration in the investigation
of acts, procedures, and corporate processes
from a legal, moral, economic, ethical, and
transparency standpoint.
In addition to being part of the Sustainability
Committee of Eletrobras companies, Eletrosul
has in its management structure a Corporate
Sustainability Committee, linked to the
Board of Directors and coordinated by the
Chief Executive Officer. In compliance with
the restrictions resulting from its condition
as a privately held company, the company
aligns with the best practices in corporate
governance, according to the principles
established by the Brazilian Institute of
Corporate Governance (IBGC).
The Process and Risk Management Department
(CCPR) aims to identify, analyze, assess, and
monitor, in conjunction with the business
areas, the critical risks between the strategic,
financial, operational, and compliance pillars in
addition to revising, implementing, monitoring,
and assessing internal controls of the
company’s processes.
Annual And Sustainability Report Eletrosul 2012 |
45
It is important to note that an independent
audit is performed in compliance with CVM
Instruction No. 381 of January 14th, 2003,
approved by the Official Memorandum/CVM/
SNC/SEP No. 01/2007 of February 14th, 2007. To
this end, the company PricewaterhouseCoopers
Independent Auditors was hired exclusively
for the provision of these specialized technical
services to audit the financial statements of
the 2009 to 2013 fiscal years.
It is important to highlight that even though
Eletrosul is a privately held company, its shares
have an impact on the valuation of Eletrobras,
which has its part in the stock market of São
Paulo (BM&FBOVESPA), Madri (Latibex), and
New York (NYSE), important source of raising
funds for new investments. Thus, the company
has enhanced its Management Model, refining
Corporate
Governance
Structure
the implementation of good corporate
governance practices, using as a model the
Code of Best Practice for Corporate Governance,
instituted by IBCG, as well as the incorporation
of sustainable development values, social and
environmental responsibility aspects with
stakeholders, and criteria for excellence
in management, which are items required
by the credit market.
4.1 Governance Structure of the
Organization (GRI 4.1)
Eletrosul’s corporate governance structure
consists of the General Meeting of
Shareholders, the Board of Directors, the
Supervisory Committee, and the Executive
Board, and relies on the support of advisory
bodies and strategic committees as shown
in the figure below:
General Meeting
of Shareholders
Audit Committee
Board of Directors
Committee
of Strategic
Investments
Corporate
Sustainability
Committee
Internal Audit
Standing
Committee
on Ethics
Executive Board
Standing
Committee
for Gender
Board
Administrative
CFO
Presidency
Direction of
Operation
Director of
Engineering
P&D
Committee
Standing
Committee
Analysis
Sponsorship
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| Annual And Sustainability Report Eletrosul 2012
4. Corporate Governance
In 2012, Senior Management held three General
Meetings (of which one was ordinary and
two extraordinary), thirteen meetings of the
Supervisory Board and Board of Directors, and
fifty meetings of the Executive Board.
that the board member representing the
employees do not participate in discussions
and deliberations of matters involving
labor relations, compensation, benefits and
advantages, including matters of pension and
health care, which hypothetically configure
conflict of interest (GRI 4.6).
ANNUAL GENERAL MEETING – The Annual
General Meeting, convened and held according
to the applicable laws and to Eletrosul’s Articles
of Incorporation, has the power to decide on all
businesses conducted by the company and to
adopt the resolutions it may deem appropriate
to its defense and development.
The advisors’ remuneration is fixed at 10% of
the average remuneration of the directors of the
company, with no variable compensation (GRI 4.5).
In 2012, Eletrosul developed a formal evaluation
of its board members, and its application is
expected to 2013, referring to the previous
year’s performance (GRI 4.10).
SUPERVISORY BOARD – Joint committee
responsible for inspecting the actions of
Eletrosul’s managers and for verifying the
fulfillment of their legal and statutory duties.
EXECUTIVE BOARD - Joint committee
responsible for Eletrosul’s general
management, according to the guidelines
established by the Board of Directors.
BOARD OF ADMINISTRATION – Joint with
deliberative functions provided for by law
and the bylaws of the company. The Board
is composed of up to six members, with
reputation and moral standing, elected by the
General Assembly, which designate, including
the Chairman, all for a one year term, reelection
permitted. Of these, three are considered
Independent advisors for not having links with
the electric energy sector. One of the members
of the Board of Directors is appointed by the
Minister of State for Planning, Budget and
Management (GRI 4.7).
In order to address strategic issues, specific
groups are formed, as described below:
Eletrosul’s Corporate Sustainability
Committee (CSEE) (GRI 4.9)
After amending the bylaws, which occurred in
September 2011, the Board of Administration
has now, as of May 2012, with one member
elected by employees and substitute, chosen by
direct vote of his peers among active employees,
in an election organized by the company
together with the unions that represent them,
in terms of prevailing legislation. It also states
Created in 07/10/2007, the Committee
underwent changes in Internal Regulations
and structure, starting in 2012. Coordinated
by the director-president, this committee has
the following responsibilities: guarantee and
promote all aspects that address sustainability
(economic, social and environmental
dimensions) by identification, approach, and
treatment of critical matters that represent
risks or might impact relevantly the business,
in long-term results, in the relationship with
the stakeholders, and in the company’s image.
In addition, Eletrosul is a part of Eletrobras
companies Sustainability Committee.
Annual And Sustainability Report Eletrosul 2012 |
47
• Propose the making of the
Multiannual Program for Corporate
Expansion, taking as a reference the
corporate strategic plan;
The structure of the CSEE
is presented below:
Overall
Coordination
Executive
Secretariat
Committee
of Corporate
Sustainability
Eletrosul - CSEE
Core Business
Sustainability
Eletrosul - NUSEE
Strategic Committee for Investments (CEI)
The CEI was created with the responsibility
of advising the Executive Board on macroguidance and decision-making related to
investments in the electric system assets, being
own assets, under trust, or special purpose
entity, with responsibility for:
• Develop a proposal for macro-guidelines
to compose the Multiannual Program for
Enterprise Expansion, structured to meet
business strategies and provide decisionmaking by the Executive Board;
• Define the macro-guidance in order to
consider the assumptions and criteria
to be used to explore and prioritize
investment opportunities, guide
projections of cash flows, set the capital
structure, and outline alternative
funding necessary to pace projects
that were to be selected;
48
| Annual And Sustainability Report Eletrosul 2012
• Review the Multiannual Program for
Corporate Expansion, systematically,
in order to provide the best offer for
the Portfolio of Investments;
• Submit to the Board the evolution
of the Multiannual Program for
Corporate Expansion.
Permanent Committee for
Gender and Race Issues
Awareness and commitment to social
responsibility in a company depend on the
incorporation of values such as equality,
dignity, and justice. In this sense, Eletrosul
seeks to promote equal opportunities between
men and women by respecting their biological
differences and eradicating socio-cultural
disparities. To this end, Eletrosul created a
Committee for Gender Issues, which was
formalized in 2006 and is currently composed
of 17 male and female employees from several
areas of the company. The objective of this
committee is to foster debate, implement
and monitor projects and actions focused on
women, and contribute to the sustainable
development in the region where it operates
by proposing a gender equity policy. With
this perspective, the company adhered to
the fourth edition of the Pro-Gender-andRace-Equity Program 2011/2012 of the State
Department for Women’s Policies (SPM/PR)
in order to proceed with the initiatives it
has been developing.
Consequently, an increase in the number of
women in management and decision-making
positions was observed with the appreciation of
social diversity within the company, through a
preventive process against discrimination in the
workplace, and by promoting more awareness,
socialization of knowledge, and assurance of
social rights.
4. Corporate Governance
Research, Development, and
Technological Innovation Committee
Created in 2002, Eletrosul’s Research,
Development and Technological Innovation
Committee is responsible for assessing
and deciding on research projects conducted
by the company.
The committee is coordinated by the
Department of Research, Development and
Energy Efficiency (DPE) and is composed of ten
employees, with eight stand-ins, all of whom
are designated by Eletrosul’s Executive Board
and by professionals and/or entities directly or
indirectly linked to research and development
activities and to technological innovation. Other
people, who can contribute to decisions and are
invited by the General Coordinator, may attend
the committee’s meetings.
Permanent Ethics Commission (GRI 4.8)
Eletrosul’s Permanent Ethics Commission
was established in 2001, and its objective is
to disseminate knowledge and clear doubts
on ethical conduct among employees,
administrators, and representatives. Thus,
it is possible to minimize the subjectivity of
personal interpretations on moral and ethical
principles, as well as to improve the public
image of the company and of its employees.
In addition, this commission is responsible
for investigating, through report or letter,
conduct violating ethical standards and
recommending, monitoring, and assessing
— within the scope of the agency or entity
to which it is linked — the development of
initiatives aimed at dissemination, teaching,
and training on this subject.
The commission is formed by a chairman, two
effective members, the same number of standins, as well as a person responsible for the
executive department of the committee.
Permanent Commission for Analysis
of Institutional Sponsorship
The Permanent Commission for Analysis of
Institutional Sponsorship aims to approve
projects for sponsorship and support by
Eletrosul according to the Table of Levels and
Limits of Competency (NLCR). For projects to
be accepted, they must be focused on lowincome communities, aiming at providing new
work and income opportunities and directed
at professional education, thus increasing the
employability of this population. Moreover,
projects that reveal or maintain new athletes
who have already excelled in their sport, as well
as projects focused on education and culture for
low-income communities, are also accepted.
The commission is composed of the Head of the
CEO’s office, the Manager of the Administration
Management Advisory Board, the Manager of the
Engineering Department Management Advisory
Board, and the Manager of the Operations
Department Management Advisory Board.
4.2 Responsibility with Stakeholders
(GRI 4.4; 4.14 a 4.17)
The communication and disclosure of corporate
governance-related subjects to the stakeholders
is done through a set of management
procedures such as reports on management and
administration, publication of the balance sheet
of financial reports, and publication of strategies
and strategic objectives contained in the
Strategic Plan. The company’s communication
plan is shown in the table below.
Annual And Sustainability Report Eletrosul 2012 |
49
Eletrosul’s Communication Plan
Stakeholders
Objective
Frequency
RD – Resolutions of the Board
PRD – Proposal of Resolution of the
Board
DCA – Deliberation of the Board of
Directors
Strategic Map and Internal and
External Communication
Communicate Plans, Strategies,
Goals, and Results
Annual
Regulatory
agencies
(ANEEL)
Meetings
Reports
Communicate Plans,
Strategies, and Results
and answer questions on
institutional, technical, and
economic performance, and
environmental and social
aspects.
Annual
Financiers
(banks)
Technical Meetings
Communicate financial
indicators on institutional
and technical issues
Administration and Management
Reports
Balance sheets, Technical Meetings,
Financial Statements
Communicate Plans, Strategies,
and Results on institutional and
technical issues
Annual
Technical Meetings
Reports
Customer Satisfaction Survey
Receive and provide
information on
technical and customer
satisfaction issues
Annual
Partners
(SPE’s)
Technical Meetings
Reports
Communicate Plans, Strategies,
and Results on institutional and
technical issues
Annual
Suppliers
Technical Meetings
Clear doubts
When
necessary
Major Newspaper (release)
Reports, Internet, Ombudsman
Answering consultations and
requests for information
Frequent
Seminars, Technical Meetings,
Management Contract, Management
Portal, Banner, Intranet, Learn More,
Eletrosul Newsletter, Ombudsman,
Lotus Notes, Short Films, Blog of the
Board of Directors
dar conhecimento aos
empregados sobre os planos,
estratégias e resultados
When
necessary
Shareholder
Supervisory
agencies (TCU,
CGU)
Clients
Public
Internal
stakeholders
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Instrument
| Annual And Sustainability Report Eletrosul 2012
When
necessary
4. Corporate Governance
Main environmental organizations with
which Eletrosul maintains a relationship:
Agency
Description
Ibama
Brazilian Institute of the Environment and Renewable Natural Resources
Fatma
Foundation for the Environment/SC
Fepam
State Foundation for Environmental Protection/RS
Defap
Department of Forests and Protected Areas
IAP
Paraná Environmental Institute/PR
Imap
Pantanal Environmental Institute/PR
Imasul
Mato Grosso do Sul Environmental Institute
Sedam
Secretariat of State Environmental Dvelopment/RO
Obs.: in addition to environmental agencies, other institutions are involved in the preparation of documents: municipal city authorities,
the National Institute of Historic and Artistic Heritage (IPHAN), National Indigenous Foundation (FUNAI), and the National Department of
Mineral Production (DNPM).
Eletrosul has relationship procedures with
its main stakeholders.A survey done with the
stakeholders, in 2012, showed that the main
interests are:
•
•
•
•
•
Economic Performance: 28%
Energy: 20%
Community: 20%
Indirect Economic Impacts: 17%
Biodiversity: 15%
Annual And Sustainability Report Eletrosul 2012 |
51
The following table shows Eletrosul’s main actions
about these matters:
Stakeholders
Key Requirements
Shareholders
Economic Performance, positive
image with clients and the public,
transparency and integrity of
information
Accountability and Repots
(Administration, Annual and
Sustainability)
Community
Investment practices, purchasing
processes, emissions of greenhouse
gases (GHG) emissions, effluents and
waste
More disclosure of these questions in
the Corporative Reports.
Clients
Low unavailability of the electricity
system
System Operational Effectiveness
Work Force
Composition of the tariffs ,issues
related to community, and economic
performance
Frequent publishing of the
company’s actions in the internal
communication channels.
Employees
Economic Performance and
regulation of energy sector
Employee representative on the
Administrative Board and disclosure
of actions to adapt changes of
regulations
Suppliers
Questions about acquisitions for
the company and indirect economic
impacts
Maintenance of a Central Service
for Suppliers and the creation of the
Integrated Programme of Sustainable
Development
Government
Energy sector regulation and
composition of tariffs
Cost optmization and services to the
network procedures.
Public
Questions about biodiversity and
economic performance
More disclosure about this questions
in its Corporative Reports
Internal Communication Channels
Employees rely on a daily electronic newsletter,
Saiba Mais (Learn More), which is sent to them
in the mornings. Saiba Mais brings news on
new developments, ongoing work, financial
investments, initiatives, and sustainability
projects and programs developed by Eletrosul.
Employees also have access to the Eletrosul
Newsletter, a monthly print publication that
also covers all the previously mentioned
subjects but with a greater degree of depth,
since it is a communication outlet with more
durability than Saiba Mais.
52
Electrosul’s Actios
| Annual And Sustainability Report Eletrosul 2012
Another communication channel is Saiba
(Learn), an electronic memo occasionally sent
to employees to communicate relevant facts.
In addition to these channels focused on
employees, Eletrosul has an institutional e-mail
system through the Social Communication and
Marketing Advisory Board, used to send messages
to employees, as well as another media outlet
called Corporate TV. There are screens scattered in
places of large circulation within the company’s
headquarters, which allows for a summarized
communication of important information.
4. Corporate Governance
The advertising area supports the
communication of information to the internal
audience with the distribution of informative
brochures, banners, institutional videos, and
booklets on Eletrosul’s management and policies.
CCEE, the company has no effective competition
in the segment.
Eletrosul’s customers are companies from
the same sector of activity that promote
commercial and technical relationship as set
in contracts between the parties, who follow
all directives from regulators in addition to
considering the specifics of the technical
facilities of the contractor.
As a tool for communication of relevant facts,
the company has a video-conferencing system
that ensures real-time communication with all
units and their employees. In order to monitor
and improve the relationship with its employees,
Eletrosul applies the Organizational Climate Survey.
Even though the regulators or the contracts
impose many difficulties for a point of
establishment, Eletrosul seeks to improve its
services using various mechanisms to identify
the needs and expectations of customers:
4.3. Customer Satisfaction (GRI PR5)
By the characteristic of the Brazilian electricity
market, with regulations set by ANEEL, ONS and
Mechanisms
Details
Participation in technical forums
Identifying trends and new technologies to
add value to the product in order to anticipate
the needs of customers
Periodic visit to customers
Discussion on future expectations of
customers to avoid claims
Determinative Transmission Expansion Plan – PDET
Analysis of the ability of equipment to meet the
future needs of the Transmission System
Meetings on Critical Analysis of
Operating Performance
Monitoring of programmed actions and
identification of new demands
Meetings of Eletrosul’s Corporate
Sustainability Committee
Prioritization of service to Clients
Commissioning
Test activities and adjustments of equipment and
systems prior to the commercial operation
Customer Satisfaction Survey Questionnaire
Specific questions to customers
about still unmet needs
Annual And Sustainability Report Eletrosul 2012 |
53
To focus efforts on meeting the needs of
customers, since 2001 Eletrosul has, through
a specialized company, applied the Customer
Satisfaction Survey. Since 2003 the rates
obtained in overall satisfaction have been
above 91%. In 2011, this figure reached 95.5% in
contrast to 95.2% of 2010, which shows that the
Eletrosul’s customer satisfaction management
has been effective. In 2011 the concept of very
satisfied reached the level of 53.3%.
With the maturation and incorporation, into
the company culture, of the importance of
customer satisfaction, regarding services
and products available, as well as good
relationships with them, Eletrosul has
defined to apply the survey every two
years, always using the diverse mechanisms
to continue improving its services and
maintaining the satisfaction.
Report
Description
Administration
It is developed in compliance with the Brazilian corporate legislation (Law No.
6,404/76) and with statutory provisions. The report includes the main information
regarding corporate development, which further consolidates its role as a utility
company provider of public electricity services, with actions focused on economic,
environmental, and social development.
Management
It is TCU’s responsibility to analyze and approve accounts and, for that, it issues annual
Regulatory Instructions and Regulatory Decisions as guidelines for the preparation of
the Management Report. Based on this report, TCU evaluates Eletrosul’s accounts. CGU
receives the documentation, audits the administration in the period of the report, and
submits the result with all its processes to TCU, which analyzes all the documentation
through the Department of Foreign Trade (SECEX) and approves or rejects it.
Annual and
Sustainability
From 2003 to 2007, Eletrosul had produced the Social Balance in respect to social
and environmental questions. This document was substituted in 2008 by the SicioEnvironmental Report of the electric energy companies – model ANEEL.
In 2011, in order to describe the practices on corporate sustainability, the GRI model
was adopted as standard.
The Internal Audit has its duties and
responsibilities established in regulations,
approved by the board of directors and bound,
statutorily, to the Board.
Its activities are carried out based on the best
54
4.4. Transparency (GRI PR6; PR7; PR9)
Transparency in the communication of
information is the key ingredient in shaping
the image of any organization. In this sense,
Eletrosul understands that it is essential for
companies to be more committed to good
policies for the communication of information.
As a mixed capital company, the institution
is required to publish three annual reports, in
addition to financial statements, as follows:
Management Report, Administration Report,
and Social and Environmental Responsibility
Report, which, under the supervision of
ANEEL (since 2008), replaced the Social Audit
that had been prepared since 2003. . In 2011,
Eletrosul published its first Annual and
Sustainability Report in the models by
GRI, including indicators that are specific
to ANEEL (GRI 3.2; 3.3).
| Annual And Sustainability Report Eletrosul 2012
auditing practices advocated internationally,
and are provided in the Annual Internal
Audit Activities (PAINT), which is based on
a specific Risk Matrix, with criteria in view
of materiality, relevance, vulnerability, and
criticality bygone. Under the bylaws, the
4. Corporate Governance
PAINT is approved by the Administrative
Board of Eletrosul and the Controladoria Geral
da União – CGU, which, by the Decree No.
3.591/2000, exerts normative guidance and
technical supervision over the internal audit
units of the entities of the Federal Indirect
Public Administration.
The activities of the Internal Audit’s basic
purpose are to ensure the legality and
legitimacy of the acts and facts practiced
by management, as well as to evaluate the
effectiveness of the management, of the
internal environment of control, and of the
administrative practices, guided by a philosophy
of preventive action in order to add value
to the company and encourage continuous
improvement of management practices,
assisting the company in achieving its
strategic objectives.
The results of the internal audit activities
are reported on a monthly basis to the
Administration Board and Audit Committee,
to the Eletrosul’s Chairman, and to the CGU,
through the Monthly Report of Activities of the
Audit Committee, and annually through the
Report of Internal Audit Activities (RAINT).
Sponsorship Policy, and Code of Ethics of
Eletrobras companies. At the same time,
meets the specific legislation, such as the
Brazilian Advertising Self-Regulation Code,
in addition to regulatory instruments,
laws, and decrees regulated by the Office of
Communications of the Presidency (SECOM).
In 2012, there was no record of non-compliance
with regulations and voluntary codes
concerning marketing communications.
4.5 Company’s Code of Conduct
(GRI 4.8)
In order to provide guidelines regarding the
conduct of its employees, Eletrosul offers a
Corporate Management Norm, approved in 2001,
whose goal is to establish rules of conduct to be
observed by employees in work relations. The
norm includes ethical and moral guidelines,
duties, prohibitions, and penalties applicable to
all company employees.
Questions regarding this norm can be formally
answered by Eletrosul’s Permanent Commission
on Ethics, which is guided by the Code of Conduct
of the Senior Federal Administration and was
approved by the President of the Republic of
Brazil on August 21st, 2000.
The Internal Audit acts centrally and
independently, preserving its neutrality and
impartiality, with free access to all parts,
documents, and company records deemed
essential for the performance of its duties.
In 2010, the Unified Code of Ethics of the
Eletrobras Companies was created and
applied to all subsidiaries, reinforcing the
importance of ethics in corporate practices
and decisions of the group.
Among the several powers conferred to the
Internal Audit are: to participate in meetings
of the Supervisory and Administrative Boards
when called to express on matters within its
area of operation; to monitor, support and
maintain institutional relations with the a
Controladoria Geral da União (CGU) and the
Tribunal de Contas da União (TCU); to examine
and issue an opinion on the annual statement
of accounts of the company and on special
accounts that may be brought up.
4.6 Internal Control
The company follows the guidelines of the
Integrated Communications Policies, of the
In compliance with the Sarbanes-Osley law,
the Securities and Exchange Commission
– SEC determined that the directors of
companies that trade stock and securities
in the North American Stock Exchange
System must present evaluations of their
internal controls and certifications from
independent auditors attesting effectiveness
of these controls.
Due to the requirements imposed by law,
in recent years the companies of Eletrobras
companies have been implementing actions
Annual And Sustainability Report Eletrosul 2012 |
55
Eletrosul Operations Center - COSE
and strategies that focus on assessment,
monitoring, and improvement of its internal
controls and procedures.
Besides ad equating companies to the
legislation, these actions and strategies aim
to improve processes and develop a corporate
environment that relates internal controls to
the company’s strategic objectives to ensure the
desired results with a reasonable safety.
As a result, the companies have been defining
a well-structured internal control environment,
empowered and qualified, with practices that
emphasize optimization and process efficiency.
In Eletrosul’s context, the area of internal
controls and risk management was
structured, along with the business areas
of the company it works to identify, assess,
and monitor the company’s integrated risk,
and develop the monitoring of internal
controls of business processes.
56
| Annual And Sustainability Report Eletrosul 2012
Under the Internal Audit coordination,
Eletrosul annually performs tests on
the effectiveness of its controls over the
administration test cycles. Furthermore,
Eletrosul was included in the years 2010 and
2011 in the SOX Certification of the Eletrobras’s
companies, conducted by independent audit,
and that aimed to test the internal control
environment to financial report to the
stakeholders (SEC, CVM).
Eletrosul’s goal for the oncoming years is to
intensify the implementation of measures to
improve its internal control structure in order
to maintain the good results in efficacy tests
and especially to efficiently mitigate the risks
to which the company is exposed to.
4.7 Risk Management (GRI 4.11)
Observing the principles of sustainability,
Eletrosul has developed actions in order to
protect people and ecosystems involved in
the business of generation and transmission,
4. Corporate Governance
applying the precautionary principle, which
provides effective measures to address critical
risks and with irreversible impacts, when
materialized. The actions undertaken during
the year of 2012 came by the concern that
the company has to respect the environment,
health, the social and economic activities of the
agents affected by energy undertakings.
This indicates that the Eletrosul welcomes
the precautionary principle in order to
reduce the negative impact of operational,
financial, strategic, and compliance risks,
when materialized, as well as to identify new
business opportunities, process improvements,
and development of energy sources projects.
With respect to the development of work
activities, it is important to note that the
company seeks to carry out its activities with
a view to sustainability, always seeking the
healthiness of the working environment and
the physical and mental balance of workers
who work in the company. Also noteworthy,
it is important to outline the concern to
promote the social, economic, and human
development of the communities surrounding
the projects, aiming to strengthen risk
prevention and disseminate concepts of
solidarity, common sense, prevention, and
environmental preservation.
Within the strategic management of
environmental risks, it is possible to outline
the activities of the Environmental and Land
Engineering that, in 2012, had continued with
its activities in order to plan the deployment
of the Company’s projects in a sustainable
manner, observing the environmental, social,
and economic areas affected by the projects.
In environmental terms, Eletrosul is following
the guidance of the Environmental Policy of
the Eletrobras’s companies, which defines
principles for the treatment of environmental
and social issues related to energy
undertakings. In this regard, we emphasize
guidelines for actions and policies to preserve
the environment, water resources, and the
welfare of the affected population. All the
actions taken by the company are aligned
with the Climate Convention, Agenda 21,
the Kyoto Protocol, among others, which
Brazil is a signatory.
In relation to the business expansion of
generation and transmission, it’s possible
to outline Eletrosul’s concern in deploying
undertakings grounded in environmental
responsibility and in the premises of
sustainability. In this approach we emphasize
the practices and actions of reclamation, waste
management, reforestation, environmental
education and monitoring, and erosion control.
Among other actions and programs aimed
at preserving the environment, we call
attention to: Projects Waste Recycling, the
Annual Campaign Against Fires, the Clean
Development Mechanism (MDL), marketing
opportunity for carbon credits, Community
Gardens Program, and the Environmental
Management Program, which proposes to work
on the systematization, standardization, and
appropriateness of this management approach
4.8 Voluntary Initiatives (GRI 4.12)
In order to remain aligned with global
sustainability and socio-environmental
guidelines, Eletrosul participates voluntarily
in the following movements:
Global Pact and Millennium Development
Goals: The company adhered to the Global
Compact on November 26 th, 2006, committing
itself to basic principles for the protection of
human rights, labor rights, the environment,
and the fight against corruption. In the same
year, a memorandum of understanding was
entered into by the company and the United
Nations Development Program (PNUD) in
order for the company to commit itself to
leveraging actions to reach the Millennium
Development Goals;
Forum in the State of Santa Catarina to End
Violence and Sexual Abuse: In compliance
with the strategic guidelines of the Social
Annual And Sustainability Report Eletrosul 2012 |
57
Investment Policy, Eletrosul adhered to this
Forum, which promotes social actions focused
on the protection of human rights of children
and adolescents who are in vulnerable social
situations and suffer maltreatment, abuse, and
sexual and/or moral exploitation;
Catarina and held the first symposium, 8 Ways
to Change the World. The movement proposes
the intensification of efforts to reach the MDG
within the regional level, aligned with the
principles of the Global Compact in promoting
public policies;
National Pact for the Eradication of Bonded
Labor: The company formalized, in December
2011, its adherence to the Committee for
the Coordination and Monitoring of the
National Pact for the Eradication of Bonded
Labor, founded in 2005 by the Ethos Institute,
Companies of Social Responsibility, the Social
Observatory Institute, NGO Repórter Brasil,
and the International Labor Organization (ILO),
aiming at implementing tools for guidance of
the corporate sector and for Brazilian society
to prevent the marketing of products from
suppliers that make use of bonded labor;
National COEP – Committee of Entities Against
Hunger and For Life: Created in 1993 from the
mobilization of civil society, triggered by the
Movement for Ethics in Politics by sociologist
Herbert de Souza (aka Betinho), the committee
aims at gathering companies to sum up
efforts in the articulation and implementation
of actions focused on fighting hunger and
poverty. COEP is one of the main coordinators
of public and private organizations for the
promotion of initiatives aiming at human
and social development, especially those
performed in low-income communities
throughout the country;
Yes, We Can – Movement of Santa Catarina: In
2012, the company supported the preparation
of a diagnosis of the situation of the
Millennium Development Goals (MDG) in Santa
Community Gardens Palhoça
58
| Annual And Sustainability Report Eletrosul 2012
Integrated Actions Program (GRI HR9): In
2012, the company did notpresent any case
of violation on the rights of indigenous
4. Corporate Governance
communities because it aims to strengthen
the relationship with these communities
and to the farm families were affected by
reservoirs. Since 2006, the Integrated Actions
Program, coordinated by Eletrosul in its area of
operation, has developed 30 projects focused
on indigenous communities like courses for
training indigenous populations and the
implementation of Community Production
Centers in communities that are benefited by
the Government Program Luz para Todos.
Gender Equity Program: The program aims at
the promotion of equal rights for opportunities
between men and women within public
and private organizations, based on the
development of new concepts for peoplemanagement and organizational culture, in
order to attain gender and race equity at work
and eliminate all forms of discrimination in
access, remuneration, promotion, or retention
of the job. The program is also directed at
ensuring labor rights of employees and workers
when distinguishing with the Pro-Genderand-Race Equity Seal. The organization is
committed to social justice, gender, and racial
equality, and the promotion of decent work
conditions, combining the logic of these rights
with the logic of the business, considering
that equality between men and women is
currently an essential pillar in organizational
management and corporate success;
Women’s Empowerment Principles: In
October 2010, Eletrosul became signatory of
the statements that support these principles
established by the United Nations Entity for
Gender Equality and the Empowerment of
Women (UNIFEM) and by the UN’s Global
Compact, in order to expand the promotion of
gender equality in the workplace;
Child Labor in the Company
and in its Production Chain
In 2012, the company carried out actions
focused on this subject, such as:
✔✔ I t engaged its employees in the National
Campaign against Sexual Abuse and
Exploitation of Children and Adolescents
with the distribution and dissemination
of campaign material encouraging the
protection and defense of the rights of
children and adolescents and speaking out
against sexual abuse;
✔✔ It adhered to the campaign against child
labor, providing information and guidelines
on this issue on its institutional page;
✔✔ Mobilization on the National Day
of Action against Sexual Abuse and
Exploitation of Children and Adolescents,
on May 18th, through the screening of
the film “Precious: Based on the Novel
‘Push’ by Sopphire” which deals with
the trajectory of a 16 years old teenager
who suffers deprivation and abuse
since childhood, opening opportunity
for discussion and reflection of the
company’s employees on this topic.
Annual And Sustainability Report Eletrosul 2012 |
59
Caracol Fall – Rio Grande fo Sul
5. Economic and
Financial Dimension
Waterfall is a geomorphological formation in which the stream flows over a rock
composition resistant to erosion, forming a sudden vertical fall. Types of waterfalls:
Catarata is the name given to water falls with high flow and curtain shape. The extreme
force of water erodes the rocks at the bottom of the waterfall, forming a kind of pool.
Salto is the name of the nozzle-shaped fall with uninterrupted flow and from a great height.
Cascata is when the flow comes from a rock mass, with irregular tilting in the vertical
direction, and in which the water glides over a series of slopes terrain.
5. Economic and Financial Dimension
In 2012, continuing its expansion plan, always
directed to projects that contribute to the
country’s development, Eletrosul invested
heavily in new undertakings, as well as the
maintenance and improvements to its system.
These advances were based on estimates of
the Brazilian GDP growth for 2012, estimated
at 1.0%4, and 3.8%5 increase of consumption in
domestic electricity. Only for the company’s
regional market, where has its own projects
comprising the southern region and Mato
Grosso do Sul, it is projected a growth of
4.9% in the total consumption of electricity
in relation to the year of 2011 6. It is expected
growth in demand in the sector even more
in the coming years, especially with the FIFA
World Cup to be held in Brazil in 2014.
The development potential of the regional
economy and the consequent expansion of
the electricity market is noticeble, for which
studies coordinated by the Energy Research
Company (EPE) have shown an average annual
growth of 4.3% for the next ten years.
To achieve its goals of infrastructure
development, the company counts on BNDS,
an agency under the Ministry of Development,
Industry and Foreign Trade, as the main
source of funding. Furthermore, Eletrosul can
obtain financing from other banks and from
Eletrobras, that, as a public company, accesses
foreign sources of capital.
4. Focus – market report of12/07/12.
5. ONS – PEN 2012-2016 – 2nd Quarterly Revision of Electric
Energy Demand Projections (September of 2012).
6. EPE – The Tem Year Plan for Energy Expansion 2021.
Annual And Sustainability Report Eletrosul 2012 |
63
Eletrosul, with Social Capital of BRL 3,740.4
million, shows, after consolidating its
financial statements, a Net Equity of BRL
4,659.8 million. It obtained in 2012 Gross
Operating Revenue of BRL 1,969.7 million and
Net Earnings of BRL 68.5 million.
Loans and financing reached a balance of BRL
5,046.7 million, against a net equity worth
of BRL 4,659.8 million and total assets of BRL
12,667.8 million. This capital structure, combined
with the ability to generate internal resources,
enables the financial leverage needed to fund
new investments.
Net Equity (in BLR Millions)
4,659.8
2,636.4
2,631.3
2010
2011
Total Assets (in BLR Millions)
7,050.6
2012
2010
9,609.2
2011
12,667.8
2012
Net Earnings (in BLR Millions)
104.6
68.5
67.6
2010
2011
2012
Eletrosul’s performance in business
management has allowed a significant increase
in earnings in electricity transmission in real
terms, which makes it possible to expand
continuously the volume of investments,
totaling BRL 2.4 billion in generation and
transmission, including investments in special
purpose companies (SPEs) in generation and
transmission undertakings and the consortium
in partnership with Copel, in 2012.
64
As a result of these investments, Eletrosul’s
Permitted Annual Revenue (RAP) reached in
2012 the amount of BRL 977.1 million. It is and
evolution of the last 12 years, representing
more than 5.1 times the revenues recorded in
the fiscal year of 2000 (BRL 193.3 million).
| Annual And Sustainability Report Eletrosul 2012
Net Debt (in BLR Millions)
4,433.3
3,281.6
2,218.5
2010
2011
2012
5. Economic and Financial Dimension
Below there is table summarizing the main
economic-financial indicators consolidated,
highlighting the results of the three periods, in
accordance with the new accounting standards:
(BRL Millions)
Consolidated Result
2010
2011
2012
1,158.6
1,467.9
1,969.7
Deductions from Operating Revenue
(91.6)
(107.5)
(144.8)
Sector Charges
(29.3)
(35.0)
(37.2)
Taxes
(62.3)
(72.5)
(107.6)
Net Operating Income
1,067.0
1,360.4
1,824.9
Gross Operating Profit
478.0
502.2
779.6
Result from Services
251.4
267.9
497.2
Financial Result
(1.2)
(144.7)
(227.8)
Net Earnings
67.6
104.6
68.5
Total Assets
7,050.6
9,609.2
12,667.8
Net Equity
2,636.4
2,631.3
4,659.8
Gross Debt
2,577.3
3,905.8
5,046.1
Net Debt
2,218.5
3,281.6
4,433.3
Gross Operating Income
The EBITDA for 2012, calculated in accordance
with CVM Resolution 527/2012, has increased
by 362.2%, from BRL 217.4 million to BRL 1,004.8
EBITDA Calculation
million. However, if we exclude the effects of
Law 12.783/13 of BRL 577.8 million, we will get
an increase of 96.4%, as shown below:
2010
2011
2012
Net Earnings in Fiscal Year
67.6
103.4
65.8
(+) Tax on Earnings
21.6
12.3
(306.0)
(14.2)
122.2
163.7
2.4
2.5
14.3
135.1
41.6
149.7
15.3
(14.0)
903.2
(+/-) Other Incomes and Outcomes
24.9
(50.6)
14.1
(=) EBITDA (BRL Millions)
252.7
217.4
1,004.8
31.8
25.7
87.3
252.7
217.4
427.0
31.8
25.7
37.1
(+) Net Financial Income
(+) Depreciation and Amortization
(+) Impairment
(+) Onerous Contract
(=)EBITDA Margin(%)
EBITDA Adjusted
Excluding law 12.783/13
EBITDA Margin Adjusted (%)
Annual And Sustainability Report Eletrosul 2012 |
65
EBITDA (in BLR Millions)
1,004.8
252.7
252.7
2010
217.4
427.0
217.4
2011
EBITDA
2012
Adjusted EBITDA
Other performance indicators in the fiscal year are:
Economic and Financial Indicators
2010
2011
2012
1.26
1.41
3.07
42.32
37.30
43.02
Net Margin (%)
8.51
12.23
5.72
Return on Equity (average) (%)
2.18
2.65
1.36
Current Liquidity (%)
Participation of Third-Party Capital* (%)
*Afac was considered in Net Equity (PL).
Participation of Third-Party Capital* (%)
43.02
42.32
37.30
2010
2011
2012
3.07
1.26
1.41
2010
2011
2012
Net Margin (%)
Return on Equity (average) (%)
12.23
2.93
2.18
8.51
2010
66
Current Liquidity (%)
5.72
2011
2012
| Annual And Sustainability Report Eletrosul 2012
1.36
2010
2011
2012
5. Economic and Financial Dimension
The table below contains the EconomicFinancial Indicators – Detailing of the Added
Value Statement (DVA) of the holding
(GRI EC1).
Economic-Financial Indicators – DVA Detailing
2012
Wealth Generation
BRL
Thousand
2011
%
∆%
BRL
Thousand
%
OPERATING INCOME (gross revenue
from the sale of energy and services)
1,733,710
100
21.35
1,428,671
100
Revenue from O&M service
447,697
25.82
(4.93)
470,923
32.96
Revenue from power generation
31,432
1.81
–
–
–
Revenue from construction of transmission
82,730
4.77
(10.27)
92,201
6.45
Revenue from construction
of power generation
467,083
26.94
(4.52)
489,194
34.24
Revenue from the financial assets
423,875
24.45
32.08
320,932
22.46
Revenue from sale of energy
266,012
15.34
688.86
33,721
2.36
Revenue from services provided
to third parties
16,901
0.97
(11.64)
19,127
1.34
Provision for doubtful credits
(9,477)
(0.55)
321.76
(2,247)
(0.16)
Other revenues from services
7,457
0.43
54.71
4,820
0.34
1,953,827
100
73.17
823,038
100
Non-operating Result
563,718
100
696.24
50,641
100
= GROSS ADDED VALUE
343,601
100
11.59
656,274
100
14,340
100
464.12
2,542
100
= NET ADDED VALUE
329,261
100
9.91
653,732
100
+ ADDED TRANSFERRED VALUE (Financial
revenues, result of equity accounting)
259,336
100
43.42
180,821
100
= ADDED VALUE FOR DISTRIBUTION
588,597
100
16.89
834,553
100
(–) INPUTS (Inputs acquired from third
parties): purchase of energy, material,
third party services, etc.)
(–) REINTEGRATION QUOTAS
(depreciation, amortization)
Annual And Sustainability Report Eletrosul 2012 |
67
Due to the generation of wealth through continuous growth,
Eletrosul distributes part of this wealth as follows:
2012
2011
Wealth Distribution – by Stakeholder
BRL Thousand
EMPLOYEES
GOVERNMENT
(taxes, fees and contributions, and industry charges)
FINANCIERS
SHAREHOLDERS
= DISTRIBUTED ADDED VALUE (TOTAL)
The following table shows the breakdown
of the details to the interested party,
“Government,” and the totals related to taxes
Wealth Distribution – Government
BRL Thousand
(%)
272,954
46.37
298,324
37.74
(126,460)
(21.48)
161,045
19.30
376,270
63.93
271,812
32.57
65,833
11.18
103,372
12.39
588,597
100
834,553
100
and industry-specific contributions in order to
better highlight the tax burden and the charges
on the provision of electricity utility services:
2012
2011
BRL Thousand
(%)
BRL Thousand
(%)
(162,993)
(27.69)
124,954
14.97
338
0.06
204
0.02
PIS/PASEP
16,479
2.80
11,489
1.38
COFINS
75,935
12.90
52,950
6.34
251
0.04
280
0.03
Corporate Income Tax (IRPJ) payable
for the fiscal year
(225,601)
(38.33)
8,488
1.02
Social Contribution on Net Equity (CSSL)
payable for the fiscal year
(80,445)
(13.67)
3,799
0.46
45,546
7.74
44,552
5.34
OTHERS
4,504
0.77
3,190
0.38
INDUSTRY CHARGES
36,533
6.21
36,091
4.32
RGR
CCC
CDE
CFURH
TFSEE
ESS
P&D
22,731
–
–
–
4,554
–
9,248
3.86
–
–
–
0.77
–
1.57
23,418
–
–
–
4,209
–
8,464
2.81
–
–
–
0.50
–
1.01
(126,460)
(21.48)
161,045
19.30
TAXES/FEES/CONTRIBUTIONS
ICMS
ISS
Social Security (INSS)
= DISTRIBUTED VALUE (TOTAL)
68
(%)
| Annual And Sustainability Report Eletrosul 2012
5. Economic and Financial Dimension
Investments in the Concession
The implementation of the program for investment in
power generation and transmission is presented below:
2012
2011
Investments
Expansion of Generation/Distribution/Transmission
(reinforcement expansion)*
*
BRL Thousand
∆%
BRL Thousand
469,684
(24.12)
618,946
CIt includes the actions for implementation of the Hydroelectric Complexes of São Bernardo, Alto da Serra, and São João; of the
Hydroelectric Plants of Mauá and São Domingos; of the Megawatt Solar Project; of reinforcements and improvements of the
transmission system in the southern region, ampliação do sistema de transmissão na Região Sul and maintenance of the electric
transmission system. The values presented were not reinstated (historical values).
São Domingos - Spillway
Annual And Sustainability Report Eletrosul 2012 |
69
Other Indicators
Below are other indicators relating
of the Holding:
Other Indicators of The Holding
2012
Total
2011
∆%
Total
Gross Operating Income (BRL)
1,276,104
35.51
941,724
Revenue Deductions (BRL thousand)
(124,982)
29.10
(96,807)
1,151,122
36.24
844,917
(794,884)
23.34
(649,741)
–
–
–
Results from Services (BRL thousand)
356,238
82.52
195,176
Shareholding (BRL thousand)
49,700
47.59
33,675
(163,703)
33.91
(122,246)
Other Revenues/Expenses
(482,448)
(5,428.56)
9,054
IRPJ/CSSL (BRL thousand)
306,046
(2,590.81)
(12,287)
65,833
(36.31)
103,372
–
–
–
62,541
(36.31)
98,203
–
–
–
234
10.54
442
28.29
(62.23)
72.97
1,004,795
309.45
217,373
87.30
253.0
25.70
Current Liquidity
3.07
117.73
1.41
General Liquidity
1.15
(26.28)
1.56
Gross Margin (net earnings/gross operating income) (%)
5.16
(53.02)
10.98
Net Margin (net earnings/net operating income) (%)
5.72
(53.23)
12.23
Return on Net Equity (net earnings/net equity) (%)
1.36
(48.09)
2.65
Own Capital (%)
50.92
37.10
37.14
Third Party Capital (%) (loans or financing)
22.22
(14.52)
25.99
0.00
–
0.00
Net Operating Income (BRL thousand)
Operating Costs and Expenses of Service (BRL thousand)
Unrecoverable Revenues (BRL thousand)
Financial Result (BRL thousand)
Net Earnings (BRL thousand)
Interest on Own Capital (BRL thousand)
Distributed Dividends (BRL thousand)
Operating Costs and Expenses by MWh sold (BRL thousand)
Wealth (net added value) by Employee (BRL thousand)
Wealth (net added value) by Operating Income (%)
Ebitda or Lajida (BRL thousand)
Ebitda Margin or Lajida Margin (%)
Capital Strcture
Customer Default (overdue bills up to 90 days/Gross Operating
Income in the previous 12 months)
70
| Annual And Sustainability Report Eletrosul 2012
5. Economic and Financial Dimension
Net Operations Income (in BLR Millions)
1.151,12
794,52
844,92
2010
2011
2012
5.1 Investments by Business Type
5.1.1 Power Generation
With investments estimative of BRL 7,486.2
million, the current portfolio of projects of
power generation under implementation
during 2012 totals 1,858.14 MW and will be
completed by 2015. From strategic planning,
this energetic capacity represents almost half
of the energy that was in operation before the
privatization in 1998.
The company invested BRL 1,109.3 million in
generation in 2012, considering investments in
own undertakings and in partnership.
Corporate Undertakings
Installed
Capacity
Developments
UHE
Passo São João (RS)
77 MW
2012
São Domingos (MS)
48 MW
2013
Barra do Rio Chapéu
15 MW
UG1: 2012
UG2: 2013
João Borges
19 MW
2013
Coxilha Rica
18 MW
2014
Santo Cristo
19.5 MW
2014
1 MW
2013
Complexo São Bernardo (SC)
PCH
Complexo Alto da Serra (SC)
SOL
Expected
Start-up
Megawatt Solar (SC)
Annual And Sustainability Report Eletrosul 2012 |
71
UHE Passo São João (RS)
With total investment of BRL 614.1 million
Eletrosul’s first venture repositioning
state hydroelectric generation market,
is in full operation.
Located in Rio Ijuí between 16 de Novembro
and Roque Gonzalez, Northwest RS, UHE
Passo São João has an installed capacity of
77 MW and 41.1 MW physical collateral. The
project consists of two generating units with
connection in UP Missions through 33.5 km of
69 kV LT. During the year 2012 the cumulative
physical progress increased from 88.9%
to 100% (Dec/2011 to Dec/2012), including
completion of erection and commissioning of
two units and issuance of operating license
by FEPAM. The generating unit No. 1 went into
operation in March and the unit number 2 in
July. Operating on the Regulated Market of
the National Interconnected System since
March 2012, recorded annual average
availability of 97.05 (GRI EU30).
Passo São João Hydroelectric
72
| Annual And Sustainability Report Eletrosul 2012
UHE São Domingos (MS)
Harnessing the power of the waters of Rio Verde
to generate power and located between the
municipalities of Agua Clara and Ribas do Rio Pardo,
to the east of the state of Mato Grosso do Sul, the
UHE São Domingos has two generating units with
an installed capacity of 48 MW and assured energy
of 36.9 MW. With total planned investment of
BRL 475.8 million, it is estimated that the project
is in operation in the first half of 2013.
The year 2012 was marked by the deforestation of
the area of flooding of the dam and power plant
partial filling of the reservoir, whose operational
level should be reached in mid-January 2013.
Another important step in this period was the
completion and release for power connection
system of the plant, which comprises 53km of
138kV LT to SE Água Clara (Enersul), as well as
adjustments in the SE’s Agua Clara, Mimoso and
Jupiá. In 2012 was finalized the assembly of unit 1,
and started commissioning of auxiliary systems.
5. Economic and Financial Dimension
Even with unexpected occurrences during
2012 as excessive rainfall, fire in the
accommodation of the construction site
and the embargo IMASUL (environmental
agency), the cumulative physical progress of
the work increased from 72.8% to 93.9% (ten
/ 2011 dec/2012). Because of these unexpected
events, including backlog in 2011 that could
not be recovered, the schedule in effect at the
beginning of 2012 (UG1 in Sep/12 and UG2 in
Oct/12) has postponed to 03/01/2013 (UG1)
and 04/15/2013 (UG2).
PCH Barra do Rio Chapéu (SC)
First work in the area of generation in Santa
Catarina, after the privatization of the
generating company in 1998, PCH River Bar
Hat has an installed capacity of 15.15 MW and
8.61 MW of assured energy. Located in the Rio
Braço do Norte, between the municipalities
of Rio Fortuna and Santa Rosa de Lima, the
energy produced by two generating units
will be drained to the SE North Arm through
19.13 km of 69 kV LT. Total investment is
BRL 141.4 million.
During the year 2012 the dam was finalized
(with free spillway sill integrated), completed
the removal of vegetation, conducted reservoir
filling, excavation and treatment of the
intake tunnel. Also were continued the civil
works of the powerhouse, the standpipe
and water intake as well as the supply
and installation of all electromechanical
equipment. With the exception of part of
unit 2, all electromechanical assembly plant
- substation, generating units, auxiliary
services, penstocks, water intake and
tailrace-it was completed in 2012. It is worth
stressing, completion of commissioning of
the transmission line and generator unit 1,
released for operation in December, and the
machine was already cashing in testing and
awaiting the issuance of the operating license
for the Environment Foundation (Fatma), for
entry into commercial operation.
In the same month, was handed the bridge over
the reservoir that connects the community of
Vila Nova Fatima main accesses to the city of
Santa Rosa de Lima.
With cumulative physical progress from 67.9%
to 98.1% (Dec/2011 to Dec/2012), the expectation
is that the project is completed in the first
quarter of 2013.
PCH João Borges (SC)
With an installed capacity of 19 MW and assured
energy of 10.14 MW, PCH João Borges consists of
three generating units with capacity for 151,000
inhabitants. The development is located in Rio
Caveiras, between the municipalities of Campo
Belo do Sul and São João do Cerrito, and your
connection will be made through a LT 34.5 kV,
with 13 km long, which will connect the a new
transformer substation 138 kV/34.5 kV, SE Catch
Itararé in deployment with sectioning at 138 kV
Herval D’Oeste - Vidal Ramos Jr. of Power Plants
of Santa Catarina SA - CELESC. Total investment
is BRL 169.1 million.
In 2012, we performed the deforestation of the
flooded area of the reservoir and completed the
excavation of the adduction channel, which
has approximately 1200 meters. In the spillway
sill - we have 140 meters in length - is nearing
completion concreting of the seven blocks that
constitute the structure, expected to be delivered
in January 2013. The water intake structure is
being finalized, with 95% of physical progress.
The penstocks are being assembled, with 50%
completion. In 2012 were also installed three
turbines and delivered the three generators at
the powerhouse, which is in the final stages of
concreting and starting assembly.
The cumulative physical progress during
2012 increased from 52.7% to 84.7% (Dec/2011
to Dec/2012). The project is expected to be
completed in the first half of 2013. The first unit
delayed the start of commercial operations
due to unforeseen geological foundations
that motivated treatments and specific dam
site and power house. Furthermore, it was
necessary to raise the level of the powerhouse
due to heavy rains that broke the cofferdam,
causing flooding.
Annual And Sustainability Report Eletrosul 2012 |
73
Megawatt Solar (SC)
the timetable originally envisaged by Eletrosul,
effective at the end of 2011, has been frustrated.
The second bidding process for project
implementation by Eletrosul was released in
February 2012, resulting in hiring, six months
later, Efacec Megawatt Solar Consortium, formed
by Portuguese Efacec Systems Engineering and
Efacec Brazil. The new forecast is for commercial
operation in April 2013.
The Megawatt Solar, with a capacity of 1
megawatt-peak (MWp), is an unprecedented
project in Brazil, considering the model, the size of
the plant and the way of marketing. The plant will
be connected to the power distribution of 13.8 kV
CELESC and energy to free consumers marketed
through auctions. The project has a total planned
investment of BRL 9.5 million (ref. August/2012)
and will have about 4000 solar modules to be
installed on the roof of the building and on the
roof of the adjacent parking lots, totaling an area
of approximately 10 square meters.
In 2012 a charter was obtained from the
municipality authorizing the start of
construction and authorization of FEPAM
for cutting trees. Moreover, were defined by
EFACEC, sub-suppliers for photovoltaic modules
(QCELLS) for metal structures (Estrumaste) for
the execution of works (GM Assembly) and
execution of foundations (FUNDASUL).
The first international competitive bidding
process for the implementation of the project,
launched in August 2011, failed because all
applicants were disqualified. Because of this,
Projects in Partnership
Developments
Consortium
UHE Mauá (PR)
UHE Teles Pires (MT/PA)
Shareholding
Eletrosul
49%
Eletrosul
24,5%
Copel
Neoenergia
Furnas
Odebrecht
UHE Jirau – ESBR (RO)
Eolic Complex of Cerro
Chato (RS)
SPE
Growth of the Eolic
Complex of Cerro Chato
Eolic Complex of Chuí (RS)
Eolic Complex of Santa
Vitória do Palmar (RS)
Eletrosul
Suez
Chesf
Eletrosul
Eletrosul
Rio Bravo
Investments
Fundação Elos
Eletrosul
Rio Bravo
Investments
Eletrosul
Rio Bravo
Investments
* Considering only the percentage of Eletrosul.
74
| Annual And Sustainability Report Eletrosul 2012
51%
50,1%
24,5%
Installed
Capacity
Expected
Start-up
177.9 MW*
2012
445.9 MW*
0,9%
20%
60%
750 MW*
100%
90 MW*
20%
49%
41%
10%
49%
51%
49%
51%
UG1: 2014
UG5: 2015
UG1: 2013
UG50: 2015
AEG1: 2011
AEG45: 2012
38.2 MW*
2013
70.5 MW*
2014
126.4 MW*
2014
5. Economic and Financial Dimension
UHE Mauá (PR)
HPP Mauá, located in Rio Tibagi, just upstream of
the site called Salto Mauá, in the municipalities
of Telêmaco Borba and Ortigueira represents the
resumption of power generation in a state where
Eletrosul already had effective participation
in hydroelectric. With an installed capacity
of 363 MW and assured energy of 197.7 MW,
HPP Maua consists of a Principal Power Plant
with 3 generating units, and a plant with 2
Complementary generating units. Its installed
capacity is sufficient to meet the consumption
of approximately 1 million people and a total
planned investment is BRL 1.4 billion.
For connection of the plant to the National
Interconnected System were built transmission
lines 230 kV Mauá - Jaguariaíva and 230 kV
Mauá - Figueira, and substations Mauá SE 230/34,
5 kV, which connects with the substations
and Jaguariaíva Figueira through the two
transmission lines of 230 kV, and SE Elevadora
Plant Complementary 6.9 / 34.5 kV which
interconnects the SE Mauá by LT of 34.5 kV.
During the year 2012 was completed the
deforestation of the area flooding and filling
the reservoir reached the minimum quota
operational. It was also finalized, the connection
of the Plant System. The three generating units
of the Main Power Plant are in commercial
operation. The generating unit 4 had already
finalized the commissioning tests and is
awaiting approval for commencement of
commercial operations.
The cumulative physical progress during 2012
increased from 97.04% to 98.7% (Dec/2011 to
Dec/2012). The commercial operation of all
generating units is scheduled for the end of
January 2013.
UHE Teles Pires (MT)
For the implementation of HPP Tele Pires,
located in the Teles Pires River, between
the municipalities of Paranaíta (MT) and
Jacareacanga (PA), the Total Planned Investment
of BRL 4,257.8 million. Consisting of five
generating units, the plant has an installed
capacity of 1,820 MW and assured energy
of 930.7 MW. The energy produced will be
connected to SE North Collector through
7 km of LT 500 kV.
During the year 2012 were performed activities
such as the implementation of the construction
site, house, bridge service, environmental
programs, rock excavation and common
embolus and terminating in the diversion
tunnels, assembly area, power house and water
intake as well as tunneling and treatment of
tunnels. In this period, started concreting the
hydraulic circuit, discharge area and assembly,
water intake and penstocks. In October, a
contract was signed to long-term financing
with BNDES, with the first installment being
released in the same month.
The cumulative physical progress during 2012
increased from 9.06% to 30.8%. The project is
expected to be completed in 2015.
UHE Jirau (RO)
With capacity to supply more than 10 million
Brazilian homes, UHE Jirau, under construction
on the Madeira River, Porto Velho, has planned
total investment is BRL 16,128,900,000.
The installed capacity of 3,750 MW and assured
energy of 2,184.6 MW represent the importance
of the project for the supply of electricity in
the country. The plant consists of two power
houses, one on each side of the river. The first,
on the right, has 28 generating units, and
the second on the left, 22 generating units.
Each features two power houses equipped
areas for assembly and maintenance of 50
generating units with 75MW of power each.
The connection is made by the Elevadora
Substation 500 kV SF6, and 3 Transmission
Lines 500 kV with approximately 105 km in
length, connecting the substation UHE Jirau
North Collector Porto Velho.
Construction activities of the connection
system of the plant were continued in 2012,
Annual And Sustainability Report Eletrosul 2012 |
75
and in April was issued the Operating License
of Transmission Lines 500 kV. Throughout
the year, there was progress of work in the
spillway, with the opening of all the spans.
Additional activities were also prioritized for
completion of civil works and complete release
for electromechanical assemblies. They are
ongoing civil works, fabrication, erection and
commissioning of the equipment on the left
and right. The plant’s operating license was
issued in October.
The cumulative physical progress during 2012
increased from 67.66% to 84.03% (Dec/2011 to
Dec/2012). It is expected that the project enters
into commercial operation in April 2013 and be
completed in the first quarter of 2015.
Cerro Chato Wind Complex (RS)
To Eletrosul, Cerro Chato Complex represents a
milestone by being the first generation venture
to start operations from the company have its
park plants fully privatized in 1998 and begin
the consolidation of the company as the largest
state of the wind Brazilian electric sector.
Cerro Chato
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| Annual And Sustainability Report Eletrosul 2012
From a very careful planning and commitment
of our teams, the Wind Complex Cerro
Chato started commercial operation of the
first generating units in June 2011 and was
completed in January 2012, 6 months in
advance of schedule the announcement ANEEL
(01/07/2012). It was the first venture of the
exclusive auction of wind power held by the
federal government in 2009, to enter into
commercial operation.
Expansion of Cerro Chato Wind Complex
(Livramento Holding S/A)
Eletrosul has been one of the protagonists
of the growth of wind power in Brazil. The
expansion of the Cerro Chato Wind Complex,
object of ANEEL Auction A-3 No. 002/2011, is
proof of this advance. Formed by the Central
Generating Wind Cerro Chato IV, Cerro Chato
V, VI Cerro Chato, the Cerro Trinidad and
Ibirapuitã I, the complex has a total power of
78 MW, with a guarantee of 38.5 MW Physics.
It will be installed 39 wind turbines with a
capacity of 2 MW each. The project, which is
planned total investment of BRL 290.3 mi, is
5. Economic and Financial Dimension
located in the city of Sant’Ana do Livramento
(RS) and confirms the excellent potential of the
winds from the the extreme south of Brazil.
During the year 2012 were initiated the civil
works, concreted all 39 bases, 39 completed all
platforms and all internal accesses. It is nearing
completion of the expansion SE North Collector
Cerro Chato and Medium Voltage Grid. The first
tower segments have been delivered on site
and expected to start the installation of wind
turbines is March 2013.
The cumulative physical progress during
2012 increased from 0% to 60.7% (Dec/2011 to
Dec/2012). It is expected that the project be
delivered to commercial operation in the first
half of 2013.
Chuí Wind Complex (Chuí Holding S/A)
The ChuiWind Complex, object of ANEEL Auction
A-3 No. 002/2011, is formed by the Central
Generating Wind Chui I, II Chui, Chui IV, V Chui,
Minuano I and Minuano II. To achieve total power
of 144 MW, with physical guarantee of 59.85 MW,
will be installed 76 wind turbines with a capacity
of 2 MW each. The development is located in the
city of Chui (RS), with a total planned investment
of BRL 565.3 million.
During the year 2012, the activities performed to
start the deployment can be summarized as the
environmental permitting and land negotiations
with the owners of the areas where the parks
will be implemented. The project is expected to
be completed in the first half of 2014.
Santa Vitória do Palmar Wind Complex
(Santa Vitória do Palmar Holding S/A)
In Santa Vitória do Palmar, on the South coast of
Rio Grande do Sul, Eletrosul is implementing the
biggest wind farm in Latin America, with 258
MW of installed capacity of 108.9 MW warranty.
With a total planned investment of BRL 983.8
million; Windfarm Complex Santa Vitória
do Palmar, object of ANEEL Auction A-3 No.
002/2011, consists of 10 wind farms (Geribatu
Geribatu I to X).
Over 2012 activities were undertaken as
processes of compliance with the conditions
of validity of the environmental license, land
negotiations with the owners of the areas
where the parks will be implemented, polls and
survey in parks and initial deployment of the
construction site. The civil works with the access
services began in December.
The project is expected to enter commercial
operation in the first half of 2014.
5.1.2 Transmission (GRI 2.8)
In 2012 investments were recorded in the
Expansion of the Transmission System in the
Southern Region and the State of Mato Grosso
do Sul, in the amount of BRL 57.90 million,
invested in infrastructure and expansion
of the transmission system. Regarding the
Reinforcement and Improvement of the
Transmission System, in 2012, were accounted
investments of BRL 3.58 million.
These investments aim to carry out the
necessary modifications and changes in the
facilities of Eletrosul to remove restrictions
on the transmission system and improve the
reliability and flexibility of their operation and
maintenance. To meet the needs of the Plan
for the Modernization of facilities Systemic
Interest (PMIS) and other exclusive interest
of the company, 12 have been completed and
planned projects in PMIS in resolutions by
ANEEL 2.376/2010 and 2.837/2011.
These improvements and reinforcements offer
greater availability, reliability and flexibility to
the transmission system Eletrosul. Keeping the
regularity, continuity, security and timeliness
of public service electricity transmission,
comprising the modern techniques of
conservation and transmission facilities in
accordance with the concession of public service
electricity transmission and Procedures Network.
Furthermore, in order to increase transmission
capacity and increased reliability of the
National Interconnected System (SIN), Eletrosul
was authorized to deploy reinforcements in
Annual And Sustainability Report Eletrosul 2012 |
77
transmission facilities of the Basic Network
and other transmission facilities through
Resolution by ANEEL 3578/2012, performing
three significant reinforcements until 2014.
transmission Eletrosul own account with
investments of BRL 2,127 million by 2014. The
Eletrosul broadcast system has 71 substations
and one frequency converter, with total
capacity of MVA transformation 24,524.00 and
11,364.34 km of LT.
The current portfolio of projects of power
Eletrosul
Transmission
System Own
Partnership /
services
Eletrosul Transmission System
Own Partnership / services
Eletrosul Transmission System
Own Partnership / services
Total
40
32
72
23,087.00
1,437.00
24,524.00
km
km
km
34.5
–
12.71
12.71
69
56.20
–
56.20
132
12.50
–
12.50
138
1,841.30
338.20
2,179.50
230
5,150.60
251.80
5,402.40
525
2,949.60
751.43
3,701.03
10,010.20
1,354.14
11,364.34
Capacidade de Transformação (MVA)
Tension (kV)
Linhas de Transmissão (km)
Eletrosul
Transmission
System Own
Partnership /
services
Total
Footnote: With the merger of Artemis, in January 2013, Eletrosul will rely on 10382.10 Km of its own transmission lines.
Besides investing in own assets, the company
participates as a partner in other transmission
ventures. In 2012, Eletrosul invested BRL
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| Annual And Sustainability Report Eletrosul 2012
376.6 million in the segment, considering the
investments in own ventures and partnering.
5. Economic and Financial Dimension
Developments in Partnership
Enterprise
Corporate Composite
Commercial Operation
Artemis Transco Energy S/A
Eletrosul
100%
2005
West Coast Transco Energy S/A
Eletrosul
Copel
49%
51%
2014
Power Transmission Company
of Rio Grande do Sul S/A
(RS Energy)
Eletrosul
100%
Part of the facilities were
in operation prior to 2012,
part went into operation in
2012, and part will go into
operation in 2013
Transmission Company of
Alto Uruguai S/A (Etau)
Eletrosul
Transmissora Aliança
CEEE
DME Energética
27.4%
52.6%
10%
10%
2005
Marumbi Transco Energy S/A
Eletrosul
Copel
20%
80%
2014
North Brazil Transco Energy
S/A (NBTE)
Eletrosul
Eletronorte
Abengoa Brasil
24.5%
24.5%
51%
2013
Old Port Transmitter Power
S/A (PVTE)
Eletrosul
100%
2012
Transmitting South Coastal
Energy S/A (TSLE)
Eletrosul
CEEE
51%
49%
2013
Transmitting South Brazilian
Power S/A (TSBE)
Eletrosul
Copel
80%
20%
2013
Uirapuru Transco Energy S/A
Eletrosul
Fundação Elos
75%
25%
2006
Artemis Transco Energy S/A
The Artemis is a Specific Purpose Company
formed to exploit the concession of the
transmission line at 525 kV, 167 km long,
originating in SE Salto Santiago and ending
at SE Ivaiporã, besides the transmission
line with a length of approximately 209 km
between SE and SE Ivaiporã Cascavel Oeste,
Paraná, was a venture bid in Energy Auction
ANEEL 0001/2003.
The incorporation of Artemis Transco Energy
S/A, planned for January 2013, represent an
increase of more than 280 million in assets
Eletrosul and an increase of 13% in Annual
Revenue (RAP) of transmission for 2013. The
acquisition of all shares of Artemis, which
had the participation of the Spanish group
Cymi Holding S/A, began trading in late 2010.
In August 2011, was formalized the transfer
of control of the company to Eletrosul. The
incorporation of Artemis Eletrosul will
simplify the legal structure of the company
and reduce administrative costs, operational
and tax measures to maximize organizational
efficiency, administrative and financial.
Annual And Sustainability Report Eletrosul 2012 |
79
West Coast Transco Energy S/A
The projects being built by West Coast were
the object of ANEEL Auction 004/2011 and
comprise 230 kV Cascavel Oeste / Umuarama
Umuarama substation and an input module
of line at the substation of Cascavel Oeste.
With 143 km in length, the line will pass
through nine municipalities of Paraná, and the
substation will receive, process and transmit
energy to other substations northwest of the
state. The development is crucial to improve
the operational reliability of the transmission
system, has a total planned investment of
BRL 73.8 million.
Throughout 2012 ongoing activities focused on
land activities (land acquisition of SE), licensing
(with the issuance of the Preliminary License LT
and SE), rental towers, archaeological services
and projects. It is expected that the project will
be in operation in January 2014.
Energy Transco Company
of Rio Grande do Sul S/A
In order to strengthen the power transmission
Transmission Line
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| Annual And Sustainability Report Eletrosul 2012
systems and contribute to the economic
growth of the Rio Grande do Sul, RS Energy
gave way, in 2012, the implementation of
projects which include substations Caxias 6,
Ijuí 2, Nova Petropolis 2 Lajeado Grande
(magnification) and Foz do Chapecó and 230kV
Transmission Line Monte Claro – Garibaldi,
which were the subject of ANEEL Auction
001/2010 (Lots B and C) and 008/2010 (Lot B).
These projects have not yet been powered to
SE Ijuí 2 (scheduled for february/2013) and LT
Monte Claro – Garibaldi (expected april/2013),
which works have been delayed due to delays
in the licensing process (in the case of LT) and
difficulties due to the contractor hired allocate
workforce during deployment (in the case of SE
Ijuí). Together, the projects have a total planned
investment of BRL 137.5 million.
Marumbi Transco Energy S/A
The project being built by Marumbi Transco
Energy S/A, for the batch F ANEEL Auction
006/2011, intended to strengthen the
transmission system in Curitiba. Comprises
5. Economic and Financial Dimension
Transmission Line
the deployment of SE East 525kV Curitiba,
Curitiba LT - Curitiba Leste (28km 525kV), the
expansion in Curitiba SE 525kV Substations and
adjustments in Uberaba 230kV, 230kV Santa
Monica, Industrial District Pinhais 230kV and
230kV Fiscal Office, sectioning of the 230kV
transmission line Santa Monica - Industrial
District of Pinhais sectioning and transmission
line 230kV Fiscal Office - Uberaba. The
concession contract was signed in May 2012.
Already signed contracts for the construction
of power lines and substations, and projects
are underway executives and environmental
studies. In June 2012 it was filed the basic
design in ANEEL, in November the EIA / RIMA
transmission line and substation December RAS
in environmental agency (IPA).
The works of the projects, which have a total
planned investment of 106.1 million, due to start
in the first half of 2013. The prediction of the
startup is for May 2014.
North Brazil Transco Energy S/A (NBTE)
Deployment in the Northern Brazil, the enterprise
object of ANEEL Auction 007/2008, known as the
Linhão do Madeira, comprises the construction
of Transmission Line + - 600kV DC - SE Gatherer
of Porto Velho - RO 2 to Araraquara - SP, with
2,412 km long. The line will pass through 85
municipalities in the states of Rondônia, Mato
Grosso, Goiás, Minas Gerais and São Paulo. Total
investment of BRL 2,030.8 million. Besides the
relevance to the National Interconnected System
(SIN), this work will have a social bias important,
as it will generate approximately 17,000 jobs.
Throughout 2012 ongoing activities focused
activities land, licensing (with the issuance
of the License Installation and Authorization
of Removal of Vegetation), rental towers,
redemptions of archaeological sites, projects,
supplies and assembly. The estimated completion
is in September 2013. In 2012, the work reached
45.5% of physical progress.
Annual And Sustainability Report Eletrosul 2012 |
81
SPE Porto Velho Transco Power S/A (PVTE)
Essential to drain the energy produced in the
Amazon to major consumer centers of the
country, the developments of PVTE understand
the 230kV LT North Collector Porto Velho /
Porto Velho SE (22km) and SE North Collector
Porto Velho 525/230kV, 2x400MW, which were
the subject of ANEEL Auction 007/2008, held
on 26/11/2008 (lot A).
For the purpose of receiving the Annual
Revenue (RAP), the implementation of the SE
was considered complete in August 2012, when
all the tests were completed with possible
systemic conditions existing at that date.
Since then, there are still some tests to allow
operation with rated power of the SE, which
will only be completed in 2013 by relying on
systemic conditions (completion of works by
third parties).
These developments will drain the energy
that is generated by the plants of the Madeira
River - Jirau, which will have a capacity of 3,750
megawatts (MW) project in which Eletrosul
has 20% stake, and Santo Antônio (3,150.4 MW).
Total investment is BRL 594.2 million.
Transco South Coastal Energy S/A (TSLE)
The projects under implementation by
TSLE comprise approximately 490 km of
transmission lines and three substations,
as well as expansion of an existing unit.
Object ANEEL Auction 005/2012 (Lot A), the
transmission system is composed by LT 525kV
Nova Santa Rita - Povo Novo (281 km), LT 525kV
- Povo Novo - Marmeleiro (154 km), LT-525kV
Marmeleiro Santa Vitória do Palmar (52 km),
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| Annual And Sustainability Report Eletrosul 2012
SE Povo Novo 525/230kV - 672MVA, 525kV SE
Marmeleiro (with Synchronous 200MVAr) SE
Santa Vitória do Palmar 525/138kV - 75MVA and
expansion of SE Nova Santa Rita. Completed,
the transmission system will use the wind on
the coast of Rio Grande do Sul. Total investment
is BRL 634.5 million.
Throughout 2012 ongoing activities focused on
land activities, licensing, design and definition
of the key supplies. The start-up is scheduled
for December 2013.
Transco South Brazilian Power S/A (TSBE)
Strategic for the South Country by enhancing
energy supply and give more attention to the
reliability of Rio Grande do Sul, the projects
being implemented by TSBE comprise LT 525kV
Salto Santiago - Ita (190 km), LT 525kV Ita Nova Santa Rita (305 km), LT 230kV Nova Santa
Rita - Camaquã 3 (140 km), LT 230kV Camaqua
3 - Quinta (163 km) and SE Camaquã 230/69kV
3 - 2x83MVA, in addition to adjustments
arising on existing SEs where such LTs will be
connected. The transmission system has been
the subject of ANEEL Auction 006/2011 (Lot A)
and come with a a total planned investment of
BRL 482.1 million.
During 2012, ongoing activities focused on
land activities, licensing, design and definition
of the key supplies. The estimate is that
development will be in operation by
December 2013.
In the management of their assets belonging
to the core network, Eletrosul presents the
following performance in terms of availability:
5. Economic and Financial Dimension
Figures in%
Installation
2009
2010
2011
*2012
Transmission Lines
99.93
99.92
99.90
99.89
Capacitor Bank
99.88
99.81
99.75
99.74
Reactors
99.95
99.89
99.94
99.77
Transformers
99.92
99.89
99.88
99.87
Total Availability
99.92
99.89
99.90
99.86
Note: * Figures updated until Dec/2012.
In this area, were completed eight projects
planned in ANEEL Resolutions º 1,535/2008,
2,383/2010, 2,589/2010, 2,879/2011 and
3,232/2011 as follows:
• Siderópolis SE 230/69 kV, 364 MVA EXTENSION “J”: Implementation of
02 modules transformer connection
for transformers, one for TF1 to TF4
and another in 230kV arrangement
bar and main transfer and
complementation sector 69 kV with
altered arrangement of bus bar type
simple main bar and transfer.
• Severed 138 kV JOINVILLE - ILHOTA
(Araquari HYOSUNG): Relocation
and sectioning of 1.25 km of 138kV
transmission line Islet - Joinville, for
the implementation of SE Joinville GM.
• SE JOINVILLE 230/138/69 kV, 691 MVA
- EXTENSION “K”: Complementation
connection Autotransformer TF5138/69 kV.
• SE Biguaçú 525/230/138 kV, 1644 MVA
- LARGE “D”: Installing 2nd 525/230kV
autotransformer bank - 672MVA, with
their connection modules 525 and
230kV.
• SE Biguaçú 525/230/138 kV, 1794 MVA
- EXTENSION “F”: Installing 3rd phase
autotransformer 230/138/13, 8 kV 150 MVA, with their connection
modules 230 and 138kV.
• IF Tapera 2230/69 kV, 249 MVA
- EXTENSION “B”: Installing 3rd
transformer 230/69kV, 83 MVA, with its
connection modules 230 and 69kV and
69kV lines of two entries.
• Severed 138 kV Biguaçú - CAMBORIÚ
HILL BOI: Severed transmission line
Biguaçu - Camboriu Morro do Boi
138kV, Substation Tijucas for correction
of simple derivation.
• 230 kV CASCAVEL OESTE - GUAÍRA:
Relocation of 0.6 km of the 230 kV
Cascavel Oeste - Guaira (Eletrosul)
in SE Cascavel Oeste (Copel).
AIn addition, the company was authorized
to perform seven new projects under ANEEL
Resolutions 2.879/2010, 3.161/2011, 3.339/2012 and
3.815/2012, with completion scheduled for the
years 2013 and 2014, as described below:
• Sectioning 138 kV JORGE LACERDA
A-PALHOÇA, double circuit and
connection modules associated
to implementation of the new
SE Garopaba (CELESC), to enable
the implementation of the new
138 kV Substation Garopaba CELESC
the distributor.
• Sectioning of 138 kV IMBITUBAPALHOÇA, double circuit and
connection modules associated
to the implementation of the new
SE Palhoça Pinheira (CELESC), to
enable the implementation of the new
138 kV Substation Palhoça Pinheira
CELESC by the distributor.
Annual And Sustainability Report Eletrosul 2012 |
83
• SE JOINVILLE NORTH - Expansion “C”
for installing 3rd Autotransformer
230/138-13, 8-150 MVA, to prevent the
loss of existing units in the remaining
unit overload occurs.
• 230 kV isolation PASSO FUNDOMONTE CLARO, double circuit, for SE
New Silver 2 (CEEE), avoiding possible
undervoltage in the region of Nova
Prata, the contingency of the 230 kV
Nova Prata 2-Monte Claro.
• SE NOVA SANTA RITA - Expansion “F”
for installation of the fourth phase
autotransformer bank, 525/230 kV,
3 X 224 MVA, necessary to avoid
overhead in processing remaining in
the contingency of one of the banks of
this substation autotransformers or
LT 525 kV Nova Santa Rita - Gravatai.
• SE ITAJAÍ - Expansion “E” to replace the
autotransformer (TF4) 230/138 kV,
84 MVA, second autotransformer
230/138 kV 150 MVA, to prevent the
loss of existing units in the remaining
unit overload occurs.
• SE ALEGRETE - Expansion “A” to install
a three-phase transformer 69/13,
8/13, 8 kV, 17 MVA and adequacy of
infrastructure and replacement of
SE cubicles existing 13.8 kV, necessary
to avoid load shedding in contingency
SE Alegrete RS.
Reinforcement and Improvement of the
Transmission System
To meet the needs of the Facilities Modernization
Plan (IMP) and other of exclusive interest of the
company, 12 have been completed and planned
projects in the PMI in resolutions by ANEEL
2,376/2010 and 2,837/2011, as described below:
• Curitiba SE 525/230 kV, 1344 MVA:
Replacement A-phase autotransformer
ATF1, 525/230 kV, 224 MVA.
• CAMPO GRANDE • 138kV SE:
Implementation of digital system
control and supervision Level III.
• SE SALTO SANTIAGO 525 kV: Mending
the auxiliary service 13.8 kV.
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| Annual And Sustainability Report Eletrosul 2012
• 525 kV ITÁ SE: Implementation of
digital system control and supervision
Level III
• SE JOINVILLE 230/138/69 kV, 691 MVA:
Replacing the circuit breaker 522
(ASEA HLR145).
• SE JOINVILLE 230/138/69 kV, 691 MVA:
Substitutions of Main and Transfer Bus
230 kV and buses I and II of 138 kV.
• SE JOINVILLE 230/138/69 kV, 691 MVA:
Replacement Breakers # 632, 642 and
652 of 138kV.
• FARROUPILHA SE 230/69 kV, 166 MVA:
Retraining the isolator 735.
• SE JOINVILLE 230/138/69 kV,
691 MVA: Replacement transformer
protection TF3.
• PALHOÇA SE 230/138 kV, 384 MVA:
Installation of 230kV 2 TPCs TFs 1 and 2.
• SE JOINVILLE 230/138/69 kV, 691 MVA:
Replacement of CTs of the spans of
TFs 1, 2, 3, 5, 7, and spans the SEs Ilhota,
Joinville SC, Tigre, São Bento do Sul and
Joinville-IV 1.
• ILHOTA SE 138/69 kV, 100 MVA:
Replacement of CT of vão Joinville.
These improvements and reinforcements offer
greater availability, reliability and flexibility
to the transmission system of Eletrosul.
Keeping the regularity, continuity, security
and timeliness of public service electricity
transmission, comprising the modern
techniques of conservation and transmission
facilities in accordance with the concession
of public service electricity transmission and
Procedures Network.
According to the Brazilian regulatory
model, the transmission company owner is
responsible for the implementation of the
project from the studies carried out, it can not
change the design, and not having thus control
over the rate of losses in the transmission
system. Eletrobras, through the Division of
Management Operation and Maintenance of
Transmission, adopts a unified methodology
for estimation of energy losses in transmission
5. Economic and Financial Dimension
for all companies of Eletrobras, based on
electrical calculations using monthly cases
of power flow. In 2012, the value of
transmission losses in assets Eletrosul
was estimated at 2.08% (GRI EU12).
Furthermore, in order to increase transmission
capacity and increased reliability of the
National Interconnected System (SIN), Eletrosul
was authorized to deploy reinforcements in
transmission facilities of the Basic Network
and other transmission facilities through
Resolution by ANEEL 3.578/2012, performing
three significant reinforcements until 2014,
as described below:
• SE BLUMENAU: Replacement of 21 TCs
JNO circuit 230kV, 230kV JOI, PAL and
230kV CTs 1, 2, 3 and 4 230/138kV sector
230kV, the SE BLU.
• SE ITA: Purchase and installation of
444 kV RP input module of LT YTA-NSR
• SE FLORIANÓPOLIS: Installation of
2 TPs measurement 138kV circuits
PAL 1 and 2.
9001 certification
In October 2012, has completed two years
of certification ISO 9001:2008 processes
retraining yard equipment, and regeneration of
insulating mineral oil and SF6 gas performed
by Eletrosul. The certification provides
assurance to quality to the capacitated
equipment of the company’s Central Office
Central GIS Transmission Lines
In 2012, Eletrosul started assembling the GIS
Center of Lines Transmission (CGLT). Composed
of a server and a room with two 42-inch
monitors, the center aims to be a facilitator
for geographical visualization of information
related to transmission lines.
To make this possible there are being edit
standardized and structured dereferenced
files of Transmission Lines of Eletrosul and the
creation of a geographic database in order to
meet the maintenance.
Transmission Line
When ready, the CGLT will be used to shelter the
following information:
• GIS database of all towers of Eletrosul
in operation;
• GIS data of all accesses that are
used by inspection teams and line
maintenance;
• Maps containing traces of the towers
and transmission lines in operation
separated by tension, state, regional
maintenance staff;
Annual And Sustainability Report Eletrosul 2012 |
85
• Maps of the locations where they
are being implemented community
gardens at Eletrosul;
• Maps of the spots where the
Eletrosul towers fell;
• Maps with the locations in which
we performed removal of vegetation
separated by year of completion;
• Among others.
Report of Removal of Vegetation in
Transmission Lines
In 2012 was established the Annual Vegetation
Suppression of Transmission Lines of
Eletrosul. This report contains the amount of
vegetation removed in easements Eletrosul
lines informing voids where the activity was
performed and the volumes of native and
exotic vegetation removed during the year.
That report following completion is submitted
to IBAMA in response to environmental
conditions of the suppression license granted
to Eletrosul and also is used by Maintenance
Engineering Lines to control this activity, in
order to minimize suppression for seamless
operation the transmission lines.
Interconnection Brazil-Uruguay
IBAMA issued a preliminary license for
Interconnection Brazil-Uruguay, valid for two
years. The license certifies the environmental
viability for tracing presented in the EIA / RIMA
of the 230 kV President Medici-Candiota (3 km)
SE Candiota (525/230-13 8 kV) and 525 kV LTCandiota Aceguá (60 miles) . According to the
DEA (Department of Environmental Engineering
and Land) the issue of the installation license,
which will allow the start of construction is
scheduled for February 2013.
Through a Partial Assignment Agreement,
assigned to Eletrobras Eletrosul rights and
obligations relating to 39.6% (thirty-nine and
six-tenths percent) of total Works in Brazil
equivalent to BRL 50,703,390.69 thousand.
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| Annual And Sustainability Report Eletrosul 2012
Thus, Eletrosul will be responsible for
implementation of transmission lines and
the owner’s engineering works in substations
President Medici and Candiota.
ELETROSUL already completed the bidding
process for the supply of cables and structures
for carrying out the work of transmission lines
in the Brazilian section, as well as Eletrobras
concluded the bidding of the facilities in SE P.
Medici and Candiota.
5.2 Commercialization
As of 2012, Eletrosul now has two generating
units with a nominal power of 38.5 MW
totaling 77 MW hydroelectric plant Passo
São João (GRI EU1).
During the same year, Eletrosul fully met
Contracts for Electricity Trading in a Regulated
Environment (CCEAR) all from the sale of
physical guarantee of HPP projects Passo São
João Maua HPP and HPP São Domingos.
Until the entry into commercial operation of
the generating units of UHE Passo São João
(July/2012) and Mauá (December/12) all the
wrongdoings of the energy and power needed
to meet the CCEAR were secured by purchase
electricity (CCVEE) in the Free (ACL) all signed
through public auctions organized by Eletrosul.
Based on two decisions by ANEEL in 2012,
Eletrosul succeeded in recovering approximately
BRL 113.4 million in revenue for the period 20102012 due to the attenuation of the rules of the
transfer price of the plants CCEAR Passo São
Joao and Maua in case of delay in commercial
operation. There were recovered BRL 16.2 million
related to HPP Passo São João and BRL 97.2
million to UHE Maua.
In the case of UHE Santo Domingo, whose early
supply of CCEARs (36 MW) commenced on
January 1st 2012, all the projects consisted of
CCVEE contracts.
5. Economic and Financial Dimension
From July 1st 2012 came into effect the
Agreement Reserve Energy (CER) on the sale
of energy produced by the wind farm Cerro
Chato. ELETROSUL has 90% stake at the special
purpose entity (SPE). In the period from January
to July 2012, all the energy produced in advance
by the complex was delivered to the National
Interconnected System (SIN) and was paid by
the Settlement Price of Differences (PLD).
In December 2012, the tests began operating
at PCH Barra do Rio Chapeu. In this case all the
energy produced by the plant was settled by PLD
.
In terms of net total energy were generated
352.347 GWh of 289.579 GWh of hydroelectric
and wind.
5.3 New Business
In the auction 005/2012-ANEEL Eletrosul, in
partnership with CEEE, scooped the main
plot of the event, the implementation of 487
km in 525kV Transmission Lines (Nova Santa
Rita - Povo Novo - Marmeleiro - Santa Vitória
do Palmar) and three substations: Povo Novo
(525/230 kV, 672 MVA), Marmeleiro (525 kV,
com compensador síncrono 200 MVAr) e Santa
Vitória do Palmar (525/138 kV, 75 MVA). These
projects allow the flow of the generation of
new wind farms in the southern coast of Rio
Grande do Sul,
Contemplating the Complexes Wind Powered
Geribatu and Chui, in which Eletrosul holds an
interest, result of the Auction 002/2011.
New Commitments were obtained by Eletrosul
in 2012, highlighting the installation of 4th bank
Autotransformers 525kV/230kV SE in Nova
Santa Rita and replacement Transformer 4 230/138kV of 75MVA to 150MVA by another in
SE Itajaí, in terms of Resolution of Authorization
3339/2012-ANEEL of 14/02/12, as well as the
installation of a new transformer 69/13, 8kV of
17MVA in SE Alegrete object 3815/2012-ANEEL
Resolution of 18/12/12.
Climate changes (GRI EC2)
Eletrosul operates in the generation and
transmission with a focus on sustainability.
For that, business strategies are created
that culminate in decision making and
implementation of projects, including
actions towards climate strategies.
Some decisions are as follows:
1. Produce renewable energy with
direction aimed at preserving
the environment: wind, solar
and hydroelectric;
2. Reduce environmental impacts
in the vicinity of the generation
and transmission;
3. Preserving forest and
archaeological reserves;
4. Restore degraded areas affected
by the projects, allowing the
preservation of economic activities;
5. Enable increased productivity and
efficiency of economic activities
in the areas surrounding the projects
through local development programs;
6. Providing better social
conditions by supporting
social development programs.
Despite efforts in efficiency and sustainability
is important to note that Eletrosul is exposed
to risks arising from climate change, with
consequential financial impacts. With this,
business strategies are created that culminate
in decision making and implementation
of projects to protect the company and the
opportunities that arise over time.
The financial implications and risks due
to climate change from which Eletrosul is
exposed, possible increases in maintenance
costs due to the unavailability of transmission
by the occurrence of disturbances such as
windstorms, rain and lightning stand out. Also,
it can be noted that the company’s exposure
to financial interference due to the reduction
Annual And Sustainability Report Eletrosul 2012 |
87
of rainfall and winds, which undertakes,
respectively, the production of hydropower
and wind power.
Regarding the opportunities identified by
the company due to climate change one can
perceive expansion of power generation
projects in matrix hydraulic Power Plants (HPP),
Small Hydropower (SHP), wind (Wind Complex
Cerro Chato, Wind Complex Verace, Windmill
Hill Cerro dos Trindades, Wind Complex
Ibirapuitã) and Solar (Megawatt solar Project).
Furthermore, some strategies of utilization
of climate change that are consolidated with
an alternative for the preservation of the
environment and the use of waste energy
are emphasized. It can be highlighted: the
development of an anaerobic digestion system
for high-performance treatment of vinasse
targeting the energy use of biogas,
the development of technology digestion
for processing agricultural waste suitable
for Brazilian rural context, the use of
plasma technology for treatment of
bauxite impregnated with insulating
oil and replacing battery bank substations
through use of the fuel cell.
That’s why the company has been developing
actions in order to gain competitive advantages
in Renewable Energy Platform. In its strategic
plan, has been developing expansion projects
development in hydropower, wind and solar
power, as well as the feasibility study
for implementation of projects with
the benefit of carbon credit.
5.4 Socioeconomic Impacts (GRI EC9)
Eletrosul understands that in addition to
environmental actions directly related to
the projects of the company, the investment
made in environmental communities do
emerge, even indirectly, considerable economic
impacts, such as the development of so-called
Production Community Centers, in villages
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| Annual And Sustainability Report Eletrosul 2012
that received the program benefits “Luz para
Todos”. Production units and access to new
technologies aim to improve and diversify
production in traditional communities,
spreading the efficient use of electricity and
generating income for these communities.
The regions of electrical projects undergo
profound social, environmental and economic,
with various impacts on the local economy.
Population growth and increased supply of jobs
lead to a direct impact on the market of goods
and services, mainly due to an increase in the
number of potential consumers, boosting the
economy of these counties.
The properties affected by the implementation
of projects are mostly exploited for economic
purposes. Thus, from the start of engineering
works these properties will have their altered
areas directly influencing the family income.
There is also an increase in road traffic, rural
and urban, according to the mobilization of
equipment and displacement of employees.
Local infrastructure is also impacted due to
interference with bridges and roads located
within the area of the future reservoir and APP.
The regional real estate market goes through
temporary changes, as the need arises to
purchase private land on a large scale in a
short time, bringing value, exacerbating
disputes, warming the market and
destabilizing regional land issue.
In addition, there is a temporary increase in
municipal revenues, due to the construction
of several companies in the area and the
resulting increase in tax collection base of the
municipality, the purchase of equipment and
materials for construction and also the provision
of services such as food and transportation,
for the employees. This significant increase,
although temporary, works to improve
infrastructure in the municipalities affected and
consequently the region as a whole.
5. Economic and Financial Dimension
The addition of firm energy to the national
grid, to consider harnessing the energy
production of these projects at the regional,
allows an increase in the industrial cities of
the region, enhancing the generation of job
demands and increase in family income.
The compensation for the use of water
resources for generation of electricity is a
percentage that utilities and companies
authorized to produce energy for hydroelectric
generation pay for the use of water resources.
ANEEL manages the collection and distribution
of funds among the beneficiaries: states,
municipalities and governmental agencies
of the Union.
Furthermore, Eletrosul’s focus is on making
improvements in the communities surrounding
its projects, resettlement as individual structures
better than its predecessors, improvements
in local infrastructure such as roads meshes,
among others. Such improvements can be
observed in environmental programs aimed at
the community, for example, the Power Plant
Step Program St. John, which featured the
following benefits:
• Redemption of Environmental
Landscape;
• Program of Tourism Development;
• Population Relocation Program and
Reorganization Remnants Areas;
• Program for the Recovery Road System
and Core Infrastructure;
• PACUERA - Plan of Conservation and
Surrounding Artificial Reservoir;
• Environmental Education Program –
involving schools and the community.
Seedling nursery at Hydroelectric Maua
Annual And Sustainability Report Eletrosul 2012 |
89
Iguaçu Falls – Paraná
“...
Nature offers us the mountains,
the full range of green that
exists, its natural forests, with
its trees of great beauty, and
one of the most beautiful
spectacles of nature , provided
by the meandering rivers and
streams, which will join , to
form the amazing show, hosted
by waterfalls that make us
engrossed takedown , imagining
every moment to see the smile
of the Creator who put special
love on that place ...”
Cataratas do Iguaçu – Marcial Salaverry
Honey Island – Paraná
6. Social
Dimension
Island is an area of land surrounded by water. There are four main types of islands:
continental, oceanic, fluvial and volcanic, with the addition of artificial islands created
by man. Continental islands / coastal lie near the continents, being linked to the same
continental shelf, for example, the British Isles (Great Britain and Ireland, among others).
Oceanic islands are ones that are in the open ocean, far from the coastal mainland.
Several nearby islands form an archipelago.
6. Social Dimension
Eletrosul, targeting the sustainable
development of society, promotes actions that
have positive impact on the environment and
the economic, social and cultural communities
of the areas of the company, always based
on your Social Investment Policy, which
determines the guidelines and the focus of
activity of their investments.
Eletrosul formally supports two initiatives of the
United Nations (UN) Millennium Development
Goals and Global Compact (Global Compact),
committing itself to basic principles of human
rights, labor rights, environmental protection
and anti-corruption.
6.1 Workforce
Convinced that social responsibility is one of
the hallmarks of a business policy based on
integrity, equality and social inclusion, and
seeking to achieve the goals of integration
and better relationship with society and the
surrounding community, Eletrosul broadens the
scope of its commitments by developing various
programs focused on education in electrical
energy conservation, promotion of regional
art, education access to the labor market,
development of sports activities, technological
development and infrastructure of communities,
valuation of outsourced employees, corporate
volunteering , generating jobs, income and
social inclusion.
In 2012, the staff of Eletrosul counted at the
end of the period, a total of 1,546 employees
and 469 contractors. Five (5) employees were
hired through Public Tender, pursuant to
court decisions, two (2) employees as a result
of the amnesty law, by court order, entered
as employees, and one (1) other employee
was also reinstated by judicial decision, one
(1) employee had his Disability Retirement
repealed and 88 employees were readmitted
amnestied under the Amnesty Law, No. 8878
of 11/05/1994. According to the Regulatory
Guidance MPOG / RH No. 4 09/07/2008,
reinstatement of employees amnesty does not
burden the limit of 1,672 places established by
Ordinance No MP 19 28/12/2006 Department of
Annual And Sustainability Report Eletrosul 2012 |
95
Coordination and Governance of State-Owned
Enterprises (Dest). Thus, the occupancy rate
limit places the company in 2012 was 92.46%
of the total set.
Eletrosul reserves, in the process of Public
Tender, 5% in the number of jobs for people
with disabilities. The company also develops
the Care Program for People with Disabilities,
with the goal of improving the quality of life
for employees and dependents, meeting the bio
psychosocial needs arising from financial and
health care of those people. Currently served by
the program are 65 people with disabilities.
In 2012 it was developed awareness raising
and information on social inclusion of people
with disabilities with the lectures: “Living the
Different, makes no difference,” “Not knowing
that it was impossible, he went and did it”
and “Attitude or Nothing”. In this context, the
Company opened a socio-occupational space,
in the organizational environment for a young
man with intellectual disability (autistic), in
order to contribute to the process of training
and professional development, especially in
helping his autonomy and independence. This
action was possible only through awareness of
workers in the area, seeking the engagement
and commitment of all in the process of
inclusion and respect for differences, providing
opportunities for theoretical and practical
knowledge and technical monitoring of the
multidisciplinary team in the area of people
management and to exchange information
with family team. As a result, we emphasize
the contribution in the formation of the young
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| Annual And Sustainability Report Eletrosul 2012
autistic, strengthening a policy of social
inclusion, strengthening it and helping in
the development of professional skills, and
improving the quality of life, (re) construction
of identity and improving self-esteem. This
experience has been the subject of labor
“Insertion Tool Lotus Notes in Brazilian
scientific literature (2000-2012)”, presented
as the conclusion paper of the Librarian
course. For the company, this process has
contributed to improving the environment
and organizational climate, interpersonal
relationships, culminating in a greater
familiarity with the differences between
employees and the ability to assist them
in expanding self-knowledge in order to
realize their own limitations and possibilities
of overcoming.
In 2012 there were 18 layoffs among employees
(2 deaths, 12 resigned and 4 were retired due to
disability). Among the four retirees, labor law
prevents the company from terminating the
employment contract, but allows posting them
in the reports, as they are not active employees
anymore. Thus, considering the 9 admissions
and staff of 1,546 employees, the turnover rate
of the staff of the company during the period
was 0.87%. Among those pardoned were four
dismissals (3 deaths and 1 resignation). The 12
employees ordered from other organs, acting
in Eletrosul, were placed in strategic areas in
order to collaborate with the challenges and
goals of the company. (GRI LA1, LA2)
Table 1 shows the evolution of the number of
employees in the last three years:
6. Social Dimension
FUNCTIONAL FRAMEWORK
Dec/2010
Dec/2011
Dec/2012
1,605
1,555
1,546
112
121
205
1,717
1,676
1,751
(+) Admissions
114
83
9
(+) Readmission of Amnesty Employees
(Law No. 8.878/94)
88
9
88
(–) Dismissals
65
134
18
0
0
4
137
(42)
75
8
11
12
Employees
Amnesty Employees (Law No. 8.878/94)
OWN EMPLOYEES FRAMEWORK
(–) Amnestied dismissals
VARIATION OF OWN FRAMEWORK
Required
Table 1: Evolution of the number of employees.
The distribution of active employees by region
is presented in the table below:
By Region
Active Employees
South
Midwest
North
Total
1,451
69
26
1,546
Amnestied
205
0
0
205
Interns
215
4
0
219
Young Apprentice
70
12
0
82
434
27
8
469
PPP
61
5
0
66
Required
11
1
0
12
Own
Outsourced
Table 2: Distribution of active employees by region.
Table 3 shows the distribution of terminated
employees by region.
Off Employees
By Region
By Genre
South
Midwest
North
17
1
0
Female
Male
0
18
Table 3: Distribution of terminated employees by region.
Annual And Sustainability Report Eletrosul 2012 |
97
The turnover rate, by region, gender and age
group are presented in Table 4.
Turnover Rate
By Region
South
Midwest
North
0.90
0.72
0.00
By Genre
By Age Group
Female
Male
0.19
1.02
0 to 29
30 to 50
Above 50
6.21
0.59
0.79
Table 4: turnover rate, by region, gender and age.
Cultural Space
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| Annual And Sustainability Report Eletrosul 2012
6. Social Dimension
Table 5 shows the composition of the
company’s employees and the governing
body (GRI LA13).
Quantitative data
2012
1. Number of employees (by job category)
90
a) Management positions
b) Positions with higher education
539
c) Positions without higher education
917
2. Permanent employees by employee category
Positions with higher education – Female
140
Positions with higher education – Male
399
Management positions – Female
12
Management positions – Male
78
Positions without higher education – Female
116
Positions without higher education–- Male
801
3. Employees under 30 years (not including 30 years)
Female
44
Male
101
4. Employees between 30 and 50 years (including 50 years)
Female
160
Male
862
5. Employees over 50 years
Female
64
Male
315
6. Composition of governance body – age
a) Under 30
0
b) Between 30 and 50
2
c) Over 50
6
7. Composition of governance body – gender
Female
1
Male
7
Table 5: Breakdown of employees of the company and the
overnance body
Annual And Sustainability Report Eletrosul 2012 |
99
Information identifying the company’s
minority groups are presented in Table 6.
...continuation
Minority Groups Quantitative Data
2012
1. Employees in managerial positions
Above 50 years – Female
Above 50 years – Male
2012
3. Employees in positions no higher education
4
24
Above 50 years – Female
Above 50 years – Male
46
200
Yellows – Female
0
Yellows – Female
0
Yellows – Male
1
Yellows – Male
4
Native – Female
1
Native – Female
0
Native – Male
0
Native – Male
2
Black – Female
0
Black – Female
2
Black – Male
0
Black – Male
Browns – Female
0
Browns – Female
Browns – Male
2
Browns – Male
People with disabilities –
Female
0
People with disabilities –
Female
People with disabilities – Male
0
People with disabilities – Male
2. Employees in positions with higher education
16
4
47
6
18
4. Composition of governance body
Above 50 years – Female
14
Employees over 50 years
6
Above 50 years – Male
91
Women
1
Blacks, yellows, browns and
indigenous people
0
People with disabilities
0
Yellows – Female
0
Yellows – Male
3
Native – Female
0
Native – Male
0
Black – Female
2
Black – Male
11
Browns – Female
0
Browns – Male
6
People with disabilities –
Female
0
People with disabilities – Male
2
Continues...
100
Minority Groups Quantitative Data
| Annual And Sustainability Report Eletrosul 2012
Table 6: Minority groups.
In 2012, considering the employee’s own
staff were 2,578,732 man-hours worked. The
absenteeism rate was recorded at 2.10%,
Frequency Rate (Injuries) equal to 5.14 and
2.231 Severity Rate, noting that there was no
occurrence of occupational disease. (GRI LA7)
The ratio between the lowest salary paid by
the company (BRL 2,225.03) and the national
minimum wage (BRL 622.00) was 3.58 times
6. Social Dimension
in 2012. In relation to the average wage now
practiced in this ratio is 9.26 times. (GRI EC5)
The profile of remuneration, considering the
proportion of remuneration of women to men
according to functional category are presented
in Tables 7 and 8. (GRI LA14)
Profile of compensation
by employee category
Ratio between the pay of
women relative to men
Profile remuneration, considering the
base salary by employee category
Ratio of basic salary of
women relative to men
2012
2012
Managerial position
95.79%
Managerial position
98.10%
Position with higher education
96.51%
Position with higher education
84.65%
Without charge higher education
89.93%
Without charge higher education
103.21%
Table 7: Profile of compensation by employee category.
Table 8: Profile of pay, considering the base salary by employee
category.
The profile of the remuneration, salaries range
for the period 2010-2012 and by gender are
presented in Tables 9 and 10.
Profile remuneration, salary range for the period 2010-2012
% Of employees in each salary range
2010
2011
2012
Up to BRL 1,600.00
0.00%
0.00%
0.00%
BRL 1,600.01 to BRL 3,200
18.82%
16.92%
12.23%
BRL 3,200.01 to BRL 6,400
66.73%
67.05%
68.31%
BRL 6,400.01 to BRL 9,000
7.73%
6.63%
8.93%
Above BRL 9,000
6.73%
9.40%
10.54%
Table 9: Profile of remuneration, salaries range for the period 2010-2012.
Profile of remuneration by salary range and gender
Percentage of employees in each age – gender
Up to BRL 1,600.00
BRL 1,600.01 to BRL 3,200.00
BRL 3,200.01 to BRL 6,400.00
BRL 6,400.01 to BRL 9,000.00
Above BRL 9,000.01
2012
Man
0%
Woman
0%
Man
Woman
10.48%
1.75%
Man
55.89%
Woman
12.42%
Man
6.79%
Woman
2.13%
Man
9.51%
Woman
1.03%
Table 10: Profile of remuneration by salary range and gender.
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Tables 11 and 12 show the profile of
remuneration by category for the period 20102012 and by gender.
Profile remuneration, salary range for the period 2010-2012 - BRL
By category
(average salary in the year due)
Board positions
2010
2011
2012
27,861.07
29,616.32
31,687.69
11,451.17
13,884.99
14,525.65
5,807.09
5,946.89
6,717.45
3,759.18
3,840.54
4,337.78
Management positions
University positions
Non-university positions
Table 11: Profile of remuneration by category for the period 2010-2012.
By functional category - average earnings in the current year - BRL
Board positions
Management positions
University positions
Non-university positions
Man
Woman
2012
31,687.69
0
Man
14,562.54
Woman
14,285.90
Man
6,994.40
Woman
5,920.44
Man
4,320.24
Woman
4,458.89
Table 12: Profile of remuneration by category and genre.
Eletrosul practices respect for the freedom
of association and category for realization of
Collective Labor Agreements, in accordance
with current legislation (GRI HR5). All employees
are covered by Collective Labor Agreements
(GRI LA4). The company hires according to the
clause in the Collective Labor Agreements that
commits to prior discussion with the unions
signatory possible changes in internal rules
incorporated into the Individual Labor Contract
Employees that may come to imply a reduction
of the benefits already gained by observing
current legislation. However, at the clause there
is no time limit for notification. (GRI LA5).
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6.2 Outsourced Employees
(GRI LA1; EU16; EU17; EU18)
To maintain greater focus on the business,
Eletrosul outsources cleaning, security, gardening,
reception, kitchen and other activities of a
continuous nature that are not served by the
Career and Remuneration of the company. 469
professionals, added to the 1,546 employees of the
company, representing 30.34% of the workforce,
run these services.
At the contracts that are signed between Eletrosul
and service providers there are included clauses
that oblige the compliance related to occupational
6. Social Dimension
health and safety, being conducted systematic
monitoring of compliance with these obligations.
This is one of the actions foreseen in the Third
to First (3D1), which aims to ensure respect for
and protection of health and the integrity of the
employees of contractors.
Through the program seeks to act on risk
factors, promoting continuous improvement
in health, safety, interpersonal relationships
and quality of life.
Other lawsuits socioeducational were developed
by the 3D1 program, such as:
• Lecture with dentist about oral
health-Bruxism, Orofacial Pain
and Oral Rehabilitation;
• Lecture “Living the different makes
difference” with the physical educator
Suely Araripe, and Film Session themed
related to autism.
• The Occupational Health Team of
the Construction Consortium São
Domingos (CCSD) lectured on the evils
of smoking and alcohol on people’s
lives, as part of the Campaign for
Prevention and Combating Alcoholism
and Smoking, held at the construction
site of the Power Plant are Sundays
(UHSD). The construction workers also
went through vaccination campaign
receiving the second dose of hepatitis B
vaccine and MMR.
• On World No Tobacco Day, employees
and contractors who work at
Headquarters attended the lecture “Stop
Smoking - Why?” taught by Tatiana
Prado pulmonologist who talked about
statistics, diseases caused by smoking
and ways of treatment. The date
was also remembered between the
construction workers of the Passo São
João Power Plant Outsourced employees
participate in the group’s headquarters
mutual assistance for the prevention of
relapse to smoking.
• In Sector Maintenance of Dourados
(SMDOU), outsourced workers attended
lecture on waste sorting.
• CIPA-Sertao promoted the lecture
“Venomous Animals - Biology,
Identification and Care”, taught
by biologist Taciana Seemann, the
Toxicological Information Center of
Santa Catarina (SC-CIT).
Still in 2012, calls were made from the Health
and Social Services for outsourced employees,
especially the corporate headquarters.
Noteworthy is also the continuity of the Project for
Level Rise Schooling of Outsourced Employees from
headquarters initiated in August 2010. Resulting
from a partnership between the State Department
of Education of Santa Catarina and Eletrosul, the
project aims to increase the educational level of
outsourcing. The conclusion of the first class of high
school was held in August 2012 and the forecast of
the first class of primary school is in March 2013.
We are studying the possibility of maintaining
the course for outsourced employees who will
complete primary school in 2013 and who wish to
continue the school.
In relation to the management of contracted
services, the professionals of Specialized
Safety Engineering in Medicine (SESMT)
developed several activities such as document
review, providing advice, monitoring and
control aspects of Health and Safety at
Work in the various company works in
progress during the year 2012. The following
activities can be highlighted:
1. Technical management of the
contract No. 91320120073 - PROVISION
OF SECURITY SUPERVISION AND
INSPECTION OF WORK AND
OCCUPATIONAL HEALTH linked to the
transmission of system Integration
of hydropower plants (HPP) and
Small Hydropower (SHP) and the
Transmission System Constructions.
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In 2012, the following projects were
covered by this agreement: Caxias SE
6 / SE Nova Petrópolis 2 / SE Lageado
Grande / LT Monte Claro - Garibaldi and
connections; Ijuí 2 SE; Foz do Chapecó SE,
SE Joinville - expansion “k”; SE Tapera 2 expansion “B”.
2. Analysis of monthly reports prepared
by the fiscal security work as contract
No. 91320120073.
3. Presentation of lectures on
security integration works to service
providers in various constructions and
contracted services.
4. Monitoring Audit Work Safety on the
construction site of UHE Jirau.
6.3 Training and Development
(GRI LA10; LA11; EU14)
The Corporate Education at Eletrosul, in 2012,
was to highlight the educational activities
related to (the):
• Individual Development Plan (IDP),
educational actions arising from
the results of the evaluations of
the Performance Management
System (SGD);
Lead Program
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• Planning Team Development
(PDEquipe) - educational activities
aiming to consolidate the training and
development of employees in critical
skills related to the area.
• Leading Program, that aims
management personal of the
Eletrobras companies at all levels,
in order to broaden the knowledge
of leaders; leveling concepts and
practices of the best business schools
and share information on the
context of the Eletrobras companies.
Coordinated by the University of
Eletrobras companies (UNISE) in
partnership with MindQuest, Leading
Program began in April/2012 and its
completion is scheduled for April/2013.
• Certification Process of the
Technicians and Assistants
Maintenance, Protection and Support
of Operation, in order to qualify these
professionals to carry out activities
to support system operation. The
process began on October/2012
and its completion is scheduled for
October/2013.
6. Social Dimension
• Review of the Management Standard
which deals with the certification
of technicians and assistants
Maintenance, Protection and
Support of Operation, which
deals with the certification of
employees who perform activities
related to systems operation and
facilities, in order to establish
guidelines for this procedure.
Table 13 shows the indicators of training
between 2011 and 2012, indicating the
variation between the two years.
Indicators
2011
2012
Employees Trained
1,494
1,427
-4.5
Man-Hour Trained
117,677
121,248
+3.0
Average Hours of Training
65
85
+30.8
Employees Trained indices (%)
83
93
+9.6
Trained Workforce (%)
3.4
4.1
+17.6
4,004
2,833
-29.2
2.7
2.0
-25.9
Total Investment (BRL thousand)
Average Invested Value per Employee (BRL thousand)
Table 13: Indicators of training between 2011 and 2012.
Note: For the calculation of the indicators Corporate Education is
considered the total number of employees who have been
in the company during the year 2012, including officers,
directors and requested.
Fluctuation (%)
The average number of training hours by
employee category in the period between 2011
and 2012, indicating the variation between the
two years is presented in Table 14.
Average hours of training - by functional category
2011
2012
1
64
63
Management positions
102.8
185.1
82.3
University positions
94.0
83.3
-10.7
Non-university positions
72.4
70.6
-1.8
Board positions
Fluctuation (%)
Table 14: Average hours of training during 2011 and 2012.
Another major focus in 2012 was the
implementation of activities under the
Knowledge Management (KM), with emphasis
on the creation of the Committee GC.A
disseminating the results of research Maturity
for Knowledge Management in the preceding
year, as well as the preparation / approval of
the Plan of Action for the GC Eletrosul, aimed
at achieving level 4 (expert) maturity, from
diagnosis presented with the determination of
the Index maturity GC which showed a level 3
(intermediate) maturity.
The company has not promoted in 2012, specific
courses on policies and procedures concerning
aspects of human rights, but carries important
educational activities that address significant issues
related to human rights policies. These activities
Training & Development (T&D) reached around
30% of the total employees of the company, namely:
• Gender and Race Committee;
• Seminar on Quality of Life;
• Lecture: Living the different makes the
difference (employees of Campo Grande,
in the interior, Sede e Gravataí);
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• Retirement and Post-Career:
Videoconferencing for all areas of the
company on frame construction and
future happiness in living spaces;
• CIPA;
• Ethics Committee;
Course
• Sustainability Committee;
• First Aid and Fire Brigade (800HS)
(GRI HR3).
Table 15 shows the number of courses in First
Aid and Fire Brigade conducted in 2012.
Classes
Hours per class
Total
First Aid
6
40
240
Fire Brigade
6
40
240
First aid and rescue at Telecom towers
1
64
64
First aid and rescue lines
and transmission towers
4
64
256
Orientation program for retirement
The Orientation Program for Retirement
(POPA) is a tool for people management
and succession, which takes advantage
of permanent professional employees an
orientation process for a new stage of life (PostCareer) which is to “be retired”. The program
aims to build spaces of psychosocial support
to the multiple dimensions of retirement and
establish relationships help to (re) construction
of projects of life in retirement.
Among the actions are conducted educational
workshops addressing topics:
1. Economic aspects of retirement (INSS
ELOS) and Financial Management and
Equity in Retirement;
2. Health Aspects of Men’s Health
and Women;
3. ELOS Foundation and ELOSAÚDE;
4. Construction of spaces of psychosocial
support to the multiple dimensions
of retirement;
5. Retirement as the beginning
of a new stage of life;
6. Meanings of Retirement;
7. Stress and Quality of Life in Retirement;
8. Retirement as a time of change;
9. Association of Retirees and
Pensioners Eletrosul;
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10.Perception of their Current Health
Expectancy and the Retirement;
11. From Well to Life - Sporting Goods;
12.(Re) development project life;
13.Retirement and aging:
myths and realities.
In 2012, employees in the pre-retirement were
invited to participate in a videoconference at
Headquarters, with transmission to decentralized
areas, with the theme “Retirement and Post-Career:
Building Frameworks and Future Happiness in Life
Spaces”. The activity was attended by 43 employees
of the Headquarters and was aimed at shedding
light on the period of retirement, how this new
stage of life can be enjoyed with quality of life,
dynamism and planning according to the
interests and motivations.
The program is aligned with corporate
activities of valuing people and politics people
management and succession professional
recognition. The actions contained herein
confirm the commitment of the company to
its employees, generating satisfaction and
motivation, improving the organizational
climate, interpersonal relationships and
business results, to the extent that these
workers in retirement phase participate
and contribute with suggestions for
improvements business environment.
6. Social Dimension
Table 16 shows the number of beneficiaries with
POPA in the period 2009-2012.
Program Preparation for Retirement
Number of beneficiaries
2009
2010
2011
2012
94
106
82
43
Table 16: Number of beneficiaries with POPA in the period 2009-2012.
6.4 Career and Compensation (PCR)
PCR is an integral part of the Integrated
Management Model for People of Eletrobras,
and the design methodology adopted in the
development of PCR was based on the concept of
competencies and results, which are the guiding
the evolution of employees in their respective
careers, observing the alignment with the
Strategic Plan of the company. Skills subsidize
all processes of Personnel Management, such
as Career, Corporate Education, Fundraising,
Human Resources Planning, Compensation and
Performance Evaluation.
This plan was implemented in the Eletrobras
System in 2010, and each employee has the
option to migrate to the new plan. Currently,
only 4 employees chose not to move to PCR
and 6 are removed from the deployment
of the same. Such employees have career
governed by PCS.
6.5 Benefits (GRI LA3)
In 2012, Eletrosul invested BRL 291,522 thousand7
in benefits for all of its direct employees
and dependents, among which are daycare,
babysitting assistance, education assistance,
self-development, funeral assistance, food
assistance, transportation vouchers, health
care (assistance medical and dental), maternity
leave, ELOS (Retirement Fund) and Life Insurance
group. Is worth noting that the company does
not differentiate between the benefits offered
to employees with workload differentiated,
hierarchical level or position.
7.
On this value is not included costs with bonuses
and transport of operators.
In line with the company’s values,
rights related to motherhood are treated
with due importance.
In 2012, nine employees were entitled to
maternity leave (and enjoyed it), all of which
returned to the labor activity and remained in
office. In the same direction and with 100% of
the results, 49 men enjoyed the paternity leave,
returning and staying on the job. Regarding
the extended maternity leave, the Collective
Labor Agreement (ACT) determines that the
extension of maternity leave is guaranteed as
long as the employee submits an application to
the area of people management by the end of
the first month after birth, immediately after
being granted the enjoyment of maternity leave.
During the extension period of maternity leave,
the employee will be entitled to receive full pay.
(GRI LA15)
The employee financial participation in the
costs of the programs contained in the Health
Plan is specific to each system using either
accreditation or reimbursement as follows:
a) In the system of accreditation the
company contributes with 80% of the
costs and the employee contributes to
20% of expenditure.
b) At the reimbursement system, the
company’s financial contribution varies
according to the employee’s base salary
for the lower salary table and the
number of their dependents, according
to the percentages in the table below,
applied to the amount of the costs
incurred or until the maximum price of
Tables Service.
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107
Table 17 shows the table of participation, which
is the basis for the Reimbursement System.
TABLE OF PARTICIPATION - Reimbursement System
Number of
Dependents
Employee Base Salary
From 0,0 to
3,00 times MST*
From 3,01 to
5,00 times MST
From 5,01 to 7,00
Above
7,00 times MST
None
times MST
Above
7,00 times MST
55%
50%
1 and 2
75%
70%
65%
60%
3, 4 and 5
80%
75%
70%
65%
6, 7 and 8
85%
80%
75%
70%
9 or more
90%
85%
80%
75%
Table 17: Table of Interest - Reimbursement System
* MST - Lowest salary in effect at the Table Eletrosul.
It is the responsibility of the employee the value
of the portion that exceeds the application of
Table Participation on the vouchers, as well as the
amount that exceeds the maximum rate constant
in Table Service adopted by the company.
6.6 System of Management
Performance (SGD) (GRI LA12)
Introduced in 2011, the SGD unified system for
all companies Eletrobras and is structured in
two distinct blocks of evaluation: Skills and
Results. Currently there are assessed only
general skills related to large positions, however
a set of specific skills related to work processes,
is in development and will direct employees to
the technical development required to achieve
the results. These actions reflect, therefore, more
specific aspects of the activities performed,
allowing better planning by the company
in the allocation of its staff and diagnostic
development actions.
Regarding the results, there were established
corporate goal and team goals aligned with
business strategies.
The official launch of the first round was held on
June 1st 2011, thus initiating the planning stage
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(2 months). As a result, the system continued
to the step of Monitoring, which lasted until
the end of 2011.
In 2012 steps were taken for the Evaluation and
Development (January to April) and end the
Cycle of Deployment SGD. The second cycle
will be launched in 2013.
Based on the results of employee performance
obtained in step 1 evaluation cycle SGD in 2012
Eletrosul applied the rules of movement salary
under PCR. They are:
a) Horizontal Progression: consists of wage
within the same level of complexity
Ample Post in which the employee is
framed. Such movement is subject to the
result of performance evaluation (SGD)
and the availability of funds.
b) Vertical Progression: is the rise of
the employee to the next higher
level of complexity to your current
environment and may occur
during the twelve (12) months of
the Performance Evaluation (SGD),
conditional access requirements of
the next level complexity and the
availability of funds.
6. Social Dimension
As a result of the process of SGD, from January
2012, Horizontal Progression moved 493
employees and Vertical Progression moved 16
employees. The movement reached 32.92% of
the company’s employees.
In May 2011, the Board also approved Eletrosul
the 2011 cycle of the Performance Management
Program (DAP) for employees who have not
migrated to the PCR and remained in PCS.
The result was the appointment in 2012 of an
employee for the perception of Merit.
6.7 Programs of preparation for the
job market
843 employees, representing 54.7% of the
workforce. As result the overall favorability of
69.9%. The dimensions were:
The Table 18 shows the results obtained with
the Organizational Climate Survey by size.
Dimension
Eletrosul
Desktop
71.79
Philosophy of
Management
72,0
People Management
62.94
Motivation
72.29
Eletrosul, conscious of its social responsibility,
develops programs to prepare young people for
the labor market, among which are: Professional
Preparation Program (PPP), which in 2012 served
66 youth with an investment of BRL 213,753,
27; young Apprentice Program, in partnership
with Senai that in the 2011/2012 cycle enabled
82 young people, representing an investment of
BRL 735,135.09, and Internship program, aimed
at improving students regularly enrolled and
often effective courses high school, technical or
higher, which benefited in 2012, 219 students
with an investment of BRL 870,250.52. In all
three programs have been benefited 367
young people, with a total investment of
BRL 1,819,138.88.
Table 18: Results of the Organizational Climate Survey by size.
6.8 Organizational Climate Survey
With regard to the management of health,
Eletrosul acts on two major fronts towards
its employees, considering the contexts:
occupational health and healthcare.
The Management Program of the
Organizational Climate is a tool to diagnose the
degree of employee satisfaction, and the results
can support the development of organizational
skills, situational analysis of labor relations
that affect the productivity, strengthen aspects
motivators in creative and productive potential
of employees.
In 2012, the company issued to all employees
the results of the Second Unified Survey of
the Organizational Climate of Eletrobras,
which was applied in a census in November
and December 2011. Participants were
The three factors that had the highest
favorability indices were: 83.34 with Benefits,
Corporate Image with Interpersonal Relationship
with 79.62 and 79.59.
The company participated in the preparation
of Integrated Action Plan of the Eletrobras
companies, starting from analysis of specific
results, drafted an Action Plan Eletrosul,
with the participation of managers, advisors,
interdisciplinary team management of people
and several related areas enterprise-wide.
6.9 Health and Safety
(GRI LA6; LA7; LA8; LA9)
As for the management of occupational health,
which includes safety, welfare and quality of
life, the company develops a work that aims to
preserve the integrity, well being, interpersonal
relationships and organizational climate
favorable to health and personal growth,
professional and organizational.
To do so, we develop a program of integrated
activities Eletrosul called Plan of Work Safety,
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Occupational Health and Social Support /
Functional (PEOPLE). This program includes
prevention activities through supervision and
monitoring of security, health and social support
operational teams, as well as programs focused
on physical fitness, ergonomics and management
of others, as is Life Health Program, Program for
Prevention and Treatment of Addiction Alcohol
and other Drug Assistance Program for Persons
with Disabilities program 3D1 - Third to First
(management safety and health of employees
and outsourced), Programfor Quality of Life
and Care Plan for Emergency Situations PASE (GRI LA8)
In 2012, we renewed 17 Internal Commission
for Accident Prevention (CIPAS) and kept the
Standing Committee of the NR-108, consisting
of 11 employees, representing all areas Eletrosul
aim to discuss the suitability across company
of the legal services relating to safety in
electrical installations. In its entirety, the
employees are represented on committees for
health and safety. (GRI LA6)
In order to ensure safety in your business
chain, Eletrosul requires the information of
accident rates for contractors and service
providers. (GRI EU16)
Among the actions undertaken in 2012 include
the Environmental Risk Prevention Program
(PPRA) and Medical Control of Occupational
Health Program (PCMSO). The PPRA are
identified, evaluated and neutralized the
potential risk of accidents / illness and / or
unfavorable conditions in the process and / or
work environment, making them known to the
employees, and taken the necessary steps to a
safe and healthy work environment. During the
survey of environmental risks, employees are
required to exchange information about the
methods and work processes.
8.
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| Annual And Sustainability Report Eletrosul 2012
Another form of employee participation
takes place in the preparation / updating of
hazard maps, made by CIPA, and even through
the comprehensive review of the PPRA, held
annually by the staff of Work Safety in all
establishments. In addition to these, at the
Annual Meeting of CIPAS Eletrosul discusses
the best practices developed by the committees
and presented by its members, critics and
suggestions of changes in specific situations
that affect or may affect the health and safety
of workers and shareholders own the company.
The Table 19 presents the indicators of Work
Safety Eletrosul in 2012.
6. Social Dimension
DESCRIPTION
Total number of work accidents with employees
14
Total typical accidents
13
Fatal Accident
1
Typical injuries of the company without leave
6
Total casualties on route of the company with leave
3
Total casualties commuting to the company without leave
1
Average accidents per employee / year 2012
1.16
Total number of days lost due to accidents
6,076
Accidents resulting in mutilation or other damage to physical and / or service providers, with
permanent removal (including RSI) (%)
0
TF index rate (frequency) on a full period for employees
5.14
TG Index (rate of Gravity) on a full period for employees
2,231
Table 19: Indicators of Work Safety of Eletrosul in 2012.
Service Plan for Emergency
situations – PASE
preventive anti-fire, the georeferencing of
hospitals by levels of complexity, the means
of communication most appropriate in the
definition of emergencies and first aid kits,
including a system computerized to give
technical support to the teams during the
events and a mobile version adding greater
flexibility and effectiveness of patient care. The
PASE is designed based on the guidelines of
Regulatory Standards of the Ministry of Labor
and international protocols for emergency
response, analyzing reality, the various
functions and specificities of Eletrosul and has
coverage for all areas of the company.
The PASE aims to improve current procedures
and to establish a standard of pre-hospital care
in emergency situations and also an action plan
for training and development of employees for
first aid care. Establishes protocols redemption
and guidance in circumstances of emergency.
Applied research is being developed with
the support of employees who participate in
workshops on first aid and rescue at height
on transmission lines, telecommunication
towers, confined spaces, wind turbines, power
plants, substations and construction site to the
company training and emergency brigades.
The project will provide indications of escape
routes and emergency exits, systems analysis,
Table 20 presents the main indicators of
Pension Funds in the period 2009-2012.
Supplementary Pension
Investments (BRL thousand)
Number of beneficiaries of the program
2009
2010
2011
2012
13,658
16,185
21,578
23,976
1,430
1,556
1,556
1,577
Table 20: Key indicators for Pension Funds in the period of 2009-2012.
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111
The planning for retirement of employees of Eletrosul is
mapped and defined as shown in the following table (GRI EU15).
Employees by functional category that can retire in the next 5 years (%)
Managerial position
5.95
Positions requiring university level
3.81
Positions without requiring university-level
17.45
Employees by functional category that can retire between 6 and 10 years (%)
Managerial position
7.18
Positions requiring university level
6.53
Positions without requiring university-level
27.67
Employees who may retire in the next five years by region (%)
Midwest Region
0.97
Northern Region
0.71
Southern Region
25.53
Employees can retire between 6 and 10 years by region (%)
Midwest Region
2.00
Northern Region
1.03
Southern Region
38.33
Table 21: Planning for retirement of employees.
6.10 Supplementary Pension
(GRI EC3)
Eletrosul sponsors the Eletrosul Foundation
of Social Security (ELOS), a nonprofit
organization that aims to complement the
basic retirement benefits of employees.
Contributions and responsibilities of the
sponsor are parity with the participants,
in terms of prevailing legislation.
The supervision and control of ELOS Foundation
are conducted by representatives designated
by senior management of Eletrosul to Advisory
Board, Supervisory Board and Executive Board of
the foundation, together with representatives
of the participants elected and appointed to this
body. These, in performing its functions, supply
shares oversight, supervision and control of the
sponsor, as well as regular and special audits are
conducted by the Internal Audit of the sponsor
and the independent audit.
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In addition to the Defined Benefit Plan (DB),
which has existed since the creation of
ELOS and seeks to supplement retirement
based on actual average salary of last
36 months of activity of the employee, in
relation to the value of the retirement benefit
Retirement Plan, in 2010 began the process
of joining a new type of plan, the Defined
Contribution Plan (DC).
The CD Plan consists of payment of a benefit
due to the balance of participant’s individual
account, contributions made by the participant
and sponsor, corrected by the profitability of
the investment of these funds in the financial
market, discounting the costs of the Plan.
The nature of the CD Plan differs from the
defined benefit plan for its individual character,
since BD has the character of mutualism.
6. Social Dimension
Since 12/31/2009, the DB Plan is closed to
new members, and employees hired after
that date can enroll in the Plan.
Participants in the Plan BD-ELOS/Eletrosul are
entitled to the following benefits:
The plan presented in the form BD on
12/31/2012, the following position:
Assets Guarantors
Actuarial Liabilities
Technical Accumulated
Surplus
Watched participants
Pensioners
Active Participants
Participants Auto Sponsors
BRL 956,713
thousand
BRL 956,104
thousand
BRL 609
thousand
553
36
673
4
Currently, participation in the pension plan is
voluntary, and only those employees who are
interested in the benefits have the option to
participate. The value of the contribution can
be made by the employee to opt for benefit
based on a lowest and a highest a value.
The ELOS Foundation maintains a narrow
channel of communication with its
participants. At the www.elos.org.br website,
it is provided information about the outcome
of its monthly plans and through the printed
newspaper, publishes quarterly data. In 2012,
as part of the project Financial Education and
Social Security, the foundation began a series of
presentations on the performance of its benefit
plans at headquarters and in decentralized
areas of the Sponsor.
• Supplementary Retirement
Contribution by Time / Service, Age,
Disability and Special;
• Institutions of Self-sponsorship,
Proportional Benefit Deferred
Portability and Rescue
• Loan;
• Group Life Insurance (optional);
• Aid Funeral for death of dependents.
Participants in the Plan CD-Eletrosul are
entitled to the following benefits:
• Retirement Benefit and Disability
Benefit annuity;
• Institutions of Self-sponsorship,
Proportional Benefit Deferred
Portability and Rescue;
• Loan;
• Group Life Insurance (optional).
Whenever requested by the Sponsor, when the
integration of employees Eletrosul, ELOS held a
presentation about the Foundation, as well as
the benefits offered by it.
The return of the fund compared to the market
indicators are pointed in the attached table.
The participant of the Plan BD-ELOS/Eletrosul
entitled to carry only the value of personal
contributions poured into the Plan, discounted the
value of administrative expense (Booking Savings).
The participant of the Plan CD-Eletrosul entitled to
carry the total Account Balance (sub-account subaccount participant + sponsor).
Annual And Sustainability Report Eletrosul 2012 |
113
Plan BD ELOS/Eletrosul
Profitability
APPLICATIONS
Patrimony
Month (%)
Year (%)
12 months (%)
(BRL millions)
10.38
29.30
29.30
930.582
Fixed Income
11.47
29.65
29.65
763.601
Equities
3.95
21.48
21.48
115.041
(0.04)
2.67
2.67
6.518
88.11
100.05
100.05
28.401
1.14
15.44
15.44
17.021
0.95
11.25
ELOS / Eletrosul TOTAL
Structured Investments
Real Estate
Loan to Participant
Actuarial Target
Plan ELOSPrev CD
Profitability
APPLICATIONS
Month (%)
(BRL millions)
10.61
28.91
28.91
402,362
Fixed Income
11.47
29.65
29.65
331,108
Equities
3.95
21.48
21.48
41,237
(0.04)
2.67
2.67
2,374
88.11
100.05
100.05
10,205
1.14
15.44
15.44
17,437
0.54
5.96
Real Estate
Loan to Participant
Reference Index
INPC previous month
114
12 months (%)
ELOSPrev CD TOTAL
Structured Investments
Year (%)
Patrimony
| Annual And Sustainability Report Eletrosul 2012
6. Social Dimension
Plan ELOSPrev BPDS
Profitability
APPLICATIONS
Month (%)
Year (%)
Patrimony
12 months (%)
(BRL millions)
ELOSPrev BPDS TOTAL
11.50
29.20
29.20
61.616
Fixed Income
11.47
29.65
29.65
49,869
Equities
3.95
21.48
21.48
8.171
(0.04)
2.67
2.67
455
88.11
100.05
100.05
1.969
1.14
15.44
15.44
1.152
0.54
5.96
Structured Investments
Real Estate
Loan to Participant
Reference Index
INPC previous month
Financial Indicators
December of 2012
INDICATORS
Month (%)
Year (%)
12 months (%)
INPC
0.74
6.20
6.20
IPCA
0.79
5.84
5.84
SELIC
0.55
8.49
8.49
Savings
0.50
6.58
6.58
IBOVESPA
6.05
7.40
7.40
Dollar
(3.03)
8.94
8.94
6.11 Society (GRI SO1)
The main communities in which Eletrosul
relates are landowners, rural or urban, directly
affected by its projects, and associations called
surrounding communities, as well as civil society
groups organized in the environmental, social
and transmission of citizenship and knowledge.
Aware of the effects that the implementation
of a development of the electricity sector leads
in environmental and social conditions of a
given region, Eletrosul develops numerous
environmental programs aimed at benefiting the
community. In 2012, 37 programs were developed
by the company itself or in partnership with
municipal secretariats, agencies and public
entities, as well as class entities and official credit
institutions. With the main objective to minimize
the impacts of construction, it is clear that, in
many cases, the actions of Eletrosul provide a
significant improvement in quality of life.
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115
For striking enterprises as hydroelectric,
before entry into the community, it is held
the EIS / EIR (Environmental Impact Study
/ Report), which covers diagnosis of the
current situation of the community, focusing
on the infrastructure of the local population
income, education, health conditions, as
well as research on the Perception of Socioenvironmental projects, allowing us to
understand the main concerns and doubts
communities and establish mitigation, control,
repair and compensation.
During the studies, Eletrosul presents to the
population the future business activities
and their potential impacts. Therefore,
many relevant decisions are taken based
on discussions with the community, from
members of committees formed by residents
in the locality. Present in the licensing process,
this joint is especially true when there is a
need for changes in the middle impacted or
relocation of a portion of the residents, as
well as modifying their daily routine. In these
locations, the company ensures that all be
compensated and assisted, preserving their
traditions, culture and social relations.
6.11.1 Company’s Social Projects
By Area and State
In addition to implementing environmental
actions defined by the legal requirements
in order to minimize the impacts of the
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enterprises, the company has been
developing some initiatives to narrow
down the relationship with the population
of coexistence.
For over ten years, the social investment by the
organization occurs through the sponsoring of
environmental projects e through sponsorship
notices and social projects / partnerships and,
also, support of government programs.
According to Eletrosul’s policy of social
investment, partnerships must be established
amongst reputable institutions, by means
of a commitment agreement, defining the
responsibilities of the parties, in order to
provide transparency in the use of resources.
Furthermore, these partnerships should be
aligned with the operations and management
of environmental impacts, as well as their
responsibility in relation to the social
development of the country.
Eletrosul, in partnership with the Volunteers
in Action Institute (IVA-SC), offers the general
community training workshops for the
preparation of social projects in order to teach
nonprofit organizations how to prepare their
own projects in a technical and systematic
manner so that they may participate in public
notices for projects of several governmental
companies and organizations. The projects
received via notices are evaluated in four steps:
6. Social Dimension
Step
Responsible
Objective
Social Responsibility
Advisory Board
Verify the documentation submitted in relation to
the legislation and the requirements provided in
the call for tender.
Multidisciplinary
Technical Committee
– composed
by technicians
representing the CSEE,
employees representing
the states where the
Eletrosul operates, and
representatives of civil
society organizations
in each state of
operation that has
technical competence
and representatives
in society, coordinated
by ARS.
Evaluate the criteria below:
a) Alignment with Guidelines: alignment with the
objectives and focus of Eletrosul’s Social Investment;
b) Social Relevance: it presents a social diagnosis that
justifies its operation and its scope and importance
in meeting the community’s needs and priorities
for social inclusion;
c) Feasibility: it has a technical team and viable
institutional and operational capacity regarding
the proposed objective, using the company’s own or
its partners’ financial resources;
d) Potential for Continuity: it has partnerships with
other sectors/companies or develops alternatives
for the maintenance/continuity of the project;
e) iInteraction with Public Policies: it complies with a
local, regional, or national agenda;
f) Assessment of Processes and Results: it presents
indicators for the monitoring and assessment of
processes and results;
g) Communication: it provides a communication plan
that includes the advertising of Eletrosul’s brand;
h)Opportunities for Volunteering: it offers
opportunities for volunteer work.
Final Analysis
Permanent Committee
for Analysis of
Eletrosul’s Sponsorships
Assess, select, and recommend to the Executive
Board the projects that have passed the
administrative screening and technical analysis.
The projects that are recommended are the ones to
be developed in areas in which the company has
operations or business prospects.
Ratification
Executive Board
Ratify the selected and recommended
social sponsorships.
Administrative
Screening
Technical
Analysis
For the projects approved, after the partnership
formalization process, meetings in the projects’
states of origin are held aiming at institutionally
presenting the company and the rules for
partnerships, among other clarifications. On-site
visits are also made to the sponsored projects.
The results of the projects are measured through
following reports on the activities of the project
and a final report on accountability.
Having as a goal, to create opportunities to
sponsored entities to coordinate their projects
with efficiency, quality and sustainability,
Eletrosul offers a Course of Social Projects
Management, aimed at resource management
and accountability. Thus, the results of the
projects can be followed, monitored and
measured, allowing a better assessment of
their actions.
Focusing on the improvement of its processes, at
the end of the sponsorship, a satisfaction survey
is conducted with those who were sponsored and
benefited from these social projects in order to
measure the level of satisfaction and the impact of
the investment.
Annual And Sustainability Report Eletrosul 2012 |
117
In order to meet the needs of different age
groups, the company broke down its operation
areas into the following:
• Complementary Education: educational
projects that work as a complement to
formal education in public schools;
• Education for Professional Qualification:
projects that provide professional
education and the development of
skills for the inclusion of low-income
communities historically discriminated
against in the labor market;
• Income and Work Generation:
community entrepreneurship projects
that enable the creation of new
production units and the expansion
of existing units;
• Conservation of the Environment:
projects that are focused on
environmental conservation, ensuring
sustainability for all future generations;
• Child and Adolescent Rights: social
projects approved by the child and
adolescent councils (municipal, state,
and federal) that aim at protecting
children and adolescents against
maltreatment, sexual abuse/mobbing
and exploitation, and child labor.
Open House Project
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| Annual And Sustainability Report Eletrosul 2012
In 2012, Eletrosul took an important step with
implementation of the Integrated Program of
Sustainable Development, aiming to integrate,
standardize and optimize the management
processes of social programs, as well as insert
and strengthen Eletrosul’s image in the
communities near the facilities, enterprises and
deployment of businesses.
The program establishes itself as an important
management tool in line with its social
investment policy, guidelines of Eletrobras
companies, business management reports,
Strategic Planning and the national program Brazil
Without Misery, of the Federal Government.
Besides the selection via public notice, Eletrosul
develops its own projects, also aligned with its
Social Investment Policy, such as:
Enhancement Program of the Outsourced:
outsourced employees that work in the Eletrosul
Headquarters Building can count on childcare
assistance. Through an agreement signed with
a nursery close to the company, outsourced
employees are able to leave their children,
between 0-5 years old, in school, while
in work schedule.
6. Social Dimension
Reef Eletrosul
Rise Schooling Program:through a partnership
with the State Department of Education,
outsourced employees that work at the
Headquarters Building have the opportunity
of completing their studies.
Community Gardens Program: developed
in the states of Paraná, Santa Catarina e
Mato Grosso do Sul, the program aims to
provide alternative income to communities
neighboring transmission lines and provide
the proper use and preservation of easements,
avoiding illegal occupation. The project
foresees the cultivation of small plants, like
legumes and vegetables and directly benefits
the families living near the facilities, which
now have a better quality of life.
Eletrosul Open House Program: inform and
discuss social, economic, ecological, and energy
conservation aspects, addressing the benefits
and risks of electricity are the main objects of
the Open House Program. The initiative, held
on the premises of Eletrosul in the states of
Santa Catarina, Parana, Mato Grosso do Sul
and Rio Grande do Sul, correspond to a work of
education aimed at children in the age of
10-11 years. In 2012, 252 schools were part
of the program, totaling 12,562 children.
Traveling Open House Program: aims to
promote awareness of children living near
the company’s premises on the process of
generation, transmission and distribution of
electric energy, the environment and fighting
energy waste, besides the specific focus on care
and dangers dealing with electricity. In 2012,
presentations were made in 18 places where
Eletrosul operates, involving 4,815 children.
Eletrosul Employees’ Choir: besides integrating
employees, their families, service providers and
trainees, the choir contributes to the promotion
of local culture. Created in 2004, has a musical
support created by maestro Robson Medeiros.
Eletrosul Cultural Space Program: since 2003,
when it was created, the program favors the
dissemination of local cultural initiatives,
providing employees, their families and the
community, a recreational, entertaining, with
interaction and contact with several local
artistic and cultural expressions. Many regional
artists exhibit their work in the Eletrosul
Annual And Sustainability Report Eletrosul 2012 |
119
Headquarters Building, through presentations
of theater, dance, concerts, craft fairs and art
shows. The voluntary participation of artisans
in events such as cultural fairs enables these
professional to target 10% of their sales to
the social projects of the Transmission of
Citizenship and Knowledge (NGOs).
Eletrosul Donation Program: has the proposal
to stimulate technological development and
infrastructure through the donation of goods to
the organized civil society, city hall, institutions
that work with the digital inclusion and federal
government agencies that have structural
difficulties. Cars, tables, chairs, computers, are
among some of the donations.
Corporate Volunteering Program: encouraged
by Eletrosul, employees have the opportunity
of donating part of their time, work and talent
towards a community cause. Associated with
social agencies where the company operates,
they can register on the Corporate Volunteer
Program, created in 2010 with the objective of
encouraging employees, former employers, their
families and contributors, to engage in solidary
actions. The activities take place in a way that
does no interfere with the performance of their
professional activities and are intended to
contribute to the transformation of the social
realities of the communities. In 2012, the Project
for Citizenship was developed, which offered,
for free, public services and entertainment to
Vila Aparecida, Florianopolis (state of Santa
Catarina). The mobilization involve more than
two thousand people and focused primarily
in contributing to the social organization
and structure of the site, with community
engagement and participation of employees
that volunteered to identify and solve problems.
The Corporate Volunteer Program also includes
the Cub Citizenship Project, which seeks to
inform, mobilize and sensitize employees on
the use of income tax withheld at the source
for the benefit of social projects.
Knowing Eletrosul Project: in order to give
greatervisibility to the company, promoting
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| Annual And Sustainability Report Eletrosul 2012
the integration between the company
and educational institutions providing
opportunities for knowledge and learning, in
2011, Eletrosul created the project Knowing
Eletrosul. This project is coordinated by its
Office and Media Marketing (ACS) and also
aims to achieve the objectives set out in
the Strategic Planning Eletrosul 2010/2020
(enhance the reputation, credibility and
the confidence amongst society, and attract
talents to the Eletrobras System).
In 2012, over 550 students visited the
company’s facilities. The students were
welcomed at the Headquarters building, in
the hinterland, substations Biguacu, Palhoca,
Blumenau, Campos Novos, Gravatai and
Londrina, at the maintenance sector of Santo
Angelo and Passo Sao Joao’s mill.
Most of the visits were motivated by
the technical part of the generation and
transmission of energy, but some groups
focused on other areas, such as students of the
Administration of Higher Education Complex of
Santa Catarina (CESUSC), who wanted to know
the Department of People Management (DGP)
Company’s Cultural and Sporting Projects by
Area and State: In 2012, Eletrosul invested BRL
1,150,000.00 in cultural and sporting projects.
There were 9 cultural projects that benefited
in the states of Santa Catarina and Rio Grande
do Sul, relating to the Rouanet Law. 3 of them
were through Eletrobras public notice, and 6 by
direct choice, totaling BRL 1 million. The largest
of them received BRL 371,000.00.
However, the sporting projects were sponsored
by the Sports Incentive Law, providing BRL
150,000.00 for two projects benefited from the
states of Santa Catarina and Rio Grande do Sul.
Biggest Project:
Santa Vitória do Palmar Cultural Center
The Santa Vitoria do Palmar Cultural Center
will use a building originally composed of two
residential units detached, built in 1888, with
6. Social Dimension
implementation and typology in Portuguese
colonial style. The intervention proposal
envisions the existing façade on the Barao do Rio
Branco Street, preserving their vain and masonry
as well as the flags with sash worked on colored
glass. The two-leaf door will be used as the main
access to the complex. The former ballroom
house will host the paleontology museum, the
library and the cyber gallery. The cultural coffee
place will use a double height atrium, skirted by
open mezzanine on the second floor. The land
of the future Cultural Center, which delimits
two parallel streets of the town, will provide the
Structural Projects
implementation of an urban gallery, considering
the overlapping length of the facilities by the
public. The Cultural Center will also have free
parking and an open-space amphitheater that
will be, also, able to host cultural and artistic
activities or serve as a place of being, rest,
relaxation and contemplation.
6.11.2. Participation in Government Social
Projects (GRI SO5)
Eletrosul, as subsidiary of Eletrobras, acts in line
with the guidelines of government policy and
supports the following programs:
Amount invested
in 2011 (BRL)
Amount invested
in 2012 (BRL)
471,445.21
213,753.27
Young Apprentice Program
903,822.49
735,135.09
Internship Program
894,925.09
870,250.52
17,676.53
6,650.49
5,950,903.83
4,107,204.69
137,596.00
226,695.09
8,376,369.15
6,159,689.15
Professional Preparation Program (PPP)
Pro-Equity Gender Program – Gender Committee
Light for All Program
Integrated Action Program (LPT)
Total
From the actions taken by the Light for
All Program, the Integrated Action
Programis highlighted, which is
intended to transform access to
electricity in social and productive use
Light for All Program (GRI EU23)
The initiative is a tool to leverage the
development for isolated communities
traditionally excluded from national
development (indigenous Maroons,
settlements, economic farmers based on
family farming and / or affected by dams).
The supported projects mainly consist in the
development of Units of Digital Inclusion and
Community Production Centers.
Of the total investment, BRL 220,000.00 were
allocated to the development of so-called
Integrated Actions, which are complementary
initiatives for socio-economic development
of rural communities that were benefited
from electricity.
In 2012, Eletrosul invested BRL 4.3 million in
the Light for All Program, taking off of the dark
over 11 thousand people from the South region
and the state of Mato Grosso do Sul.
Created by the Federal Government with the
intention of taking electricity to millions of
Annual And Sustainability Report Eletrosul 2012 |
121
houses located in the rural areas of Brazil,
the Light for All Program is coordinated by
the Ministry of Mines and Energy (MME) in
accordance with article 7 of Decree number
4873 of November 11th, 2003, being developed
in partnership with state governments,
utilities and rural electric cooperatives. The
operationalization of activities have active
participation of Eletrobras and the companies
that make up the system.
By 2014, the goal is to take electricity to 3.2
million rural houses, serving 16 million people.
In this quest, Eletrosul plays an important role
in the logistical support to carry out electrical
connections, as well as in monitoring works
and quality of service to the families enrolled in
the program, and developing workshops on the
rational use of electricity.
In states where Eletrosul operates,
262,542 households(1,312,710 people)
should be met by 2014.
Care Homes in the Light for All Program, with Eletrosul
Accomplished in 2011
Accomplished in 2012
Accumulated by 2012
Households
People
Households
Households
People
Mato Grosso do Sul
3,043
15,215
687
3,435
40,252
201,260
Paraná
4,263
21,315
513
2,565
79,045
395,225
563
2,815
99
495
41,891
209,455
3,826
19,130
944
4,720
91,579
457,895
11,695
58,475
2,243
11,215
252,767
1,263,835
Operation Area
of Eletrosul
Santa Catarina
Rio Grande do Sul
Total
Integrated Actions Program
The Integrated Actions Program, which is part
of the Light for All Program, aims to transform
access to electricity in a social and productive
use, the supported projects mainly consist in the
development of unites of Digital Inclusion and
Community Production Center.
Since 2006, the Integrated Actions Program,
coordinated by the company in its area of
operation, has developed 30 social projects
focused on indigenous communities,
such as indigenous training courses and
implementation of Community Production
Center in communities benefited from the
Light for All Government Program. Eletrosul
did not present, in 2012, any case of violation
of indigenous peoples rights, because strives
in narrowing the relationship with indigenous
Maroons, settlements, economic farmers based
on family farming or affected by dams.
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| Annual And Sustainability Report Eletrosul 2012
People
6.12 Communities Affected
(GRI SO9; SO10)
The constant concern with the communities
living in the areas of installment of its projects
has led Eletrosul to pursue an environmental
policy more broad and effective. Aiming to
assure the well being of today’s society and
future generations, Eletrosul seeks to minimize
the impacts resulted before, during and after
its works.
The characteristics of the project and the
proposed site for its installation require
the evaluation of these impacts, as well as
prevention measures that aim to reach the
legal requirements of the Environmental
Impact Study and Environmental Impact
Report (EIA/RIMA). This diagnosis foresees the
characterization of the area by its physical,
social and economic attributes; identification
and evaluation of environmental impacts
6. Social Dimension
taking into account each phase of the project
– planning, operation and construction – for
these different phases imply significant
differences in the populations and, finally, the
proposition for environmental programs.
In the case of social impacts, measure taken
by Eletrosul aim to achieve a standard beyond
legal compliance. For a better management
of these actions, in 2012 the company
implemented the Integrated Program for
Sustainable Development that, among other
objectives, aims to integrate its activities
with public policies, in order to manage the
interest and meet the interest of communities,
especially in demands coming from the
municipalities of the regions affected
by the projects.
These measures are adopted because Eletrosul
is aware that the implementation of projects
in the electric sector, even small, cause some
discomfort to the population living near
the sites. Throughout the various stages
of implementation, actions may represent
changes in the daily lives of people who live,
work, study or pass by the most affected sites,
especially with the arrival of workers from
other regions, with different habits
and customs.
We can highlight the expectations that revolve
around the employment generation, from job
opportunities and businesses not only in the
local community, but people who are attracted
by job opportunities and business, generating
migration and transformation of the regional
demographic scenario. Another problem is
road, urban and rural traffic, which increases in
order to mobilize equipment and workers.
The installation of infrastructure to house
workers and the expansion of the population
increase the solid waste and wastewater,
decreasing the environmental quality of the
municipalities involved, especially those who
lack an adequate sanitation.
At the moment of “peak” of the work, the
pressure on public services, such as health,
further compromises a general lack of physical
and structural treatments in traditional
medicine, typically curative. The properties
and infrastructures are directly affected by the
mobilization for the beginning of engineering
works, especially the ones located in the area
of the future construction site, as well as
the others during the implementation of the
reservoir and the Permanent Preservation
Areas (APP). The properties affected by the
hydropower projects are mostly exploited
for economic reasons. Therefore, from the
beginning of the engineering works, these
properties will have their area altered, directly
influencing the family’s income.
The forced displacement of affected families,
arising from the need of areas for the
construction of the mill, and the construction
of access for the businesses structures and, also,
for the formation of the reservoir and those
necessary to the maintenance of environmental
quality – (APP) take on special relevance because
it involves humans directly, with respect to their
means of production, measurement of income
for their survival and economic development,
as well as their cultural and emotional ties,
because the addition or suppression of living or
constructed elements, traditionally lead to the
loss of aesthetic, historical and cultural values of
this cultural heritage.
The movement of heavy machinery and the
possible use of explosive during the phase
of implementation of the project, cause
increased level of air and noise pollution,
especially in the areas near the construction
site of the developments.
In this scenario, actions taken by Eletrosul in
order to mitigate all these impacts, has made
the company boost the local economy in the
regions where its projects take place. It also
indicates a significant improvement in the
quality of life of the population, provided by
Annual And Sustainability Report Eletrosul 2012 |
123
the valuation of the land, incentives to regional
tourism, economic growth and expansion of
the infrastructure and public services.
Because of the complex situations and multiple
interests, many decisions involving the
implementation of Eletrosul projects are taken
based on discussions with the community,
through public hearings and meetings. In these
meetings, agreements are drafted, creating
guidelines to mitigate the environmental
impacts in the region. In cases of relocation
of local residents, offices are established to
provide assistance and answer questions.
To ensure consistent and fair negotiations,
the first step before the beginning of the
constructions is create a subscription of
the owners data and the land used for the
implementation of the project.
In easements, as the security areas located
under the power transmission lines are known,
the company holds a registry of use and
adequately compensates the owner.
• Technical guidance for better
use of material from the building
to be demolished;
• Financial support for the relocation;
• Payment of rent for a certain period
for the relocation of people;
• Compensation of costs needed for
the regularization of the property in
eminent domain and the one to be
purchased or built;
• Technical and legal assistance,
even if informally, in the purchase
of the new property;
• Mediation in agreements between
property owners and tenants;
• Search for institutional partnerships to
create solutions and implement actions
required to enable relocations;
• Working with Municipal City
Authorities for the exemption
from IPTU (Property Tax)
whenever necessary.
The same caution regarding the due
compensations happens when there is
acquisition of properties for the construction of
substations, power plants and reservoirs, when
the viability of the remaining are is analyzed,
and the possibility of the owner to remain
living and using the site.
In order to promote a harmonious relationship
with the owner, Eletrosul performs
the payment of all legal fees under its
responsibilities, such as fees, certificates, deeds
and tax records and, after finishing the process
of compensation, a number of other actions are
performed to ensure the right to citizenship,
reinforcing the social responsibility of the
company:
• Support in order to find solutions that
are compatible with the purchasing
power of those affected, such as
technical guidance for the construction
of the new house;
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| Annual And Sustainability Report Eletrosul 2012
Community Gardens
6. Social Dimension
A personal contract is established between the
company’s technicians and the local population
to clear doubts and help families in the
changes they have to face. Those who will have
to move to a different property deserve greater
attention in determining the compensation
pay, since there is a readjustment of the
individual component to a different situation.
In this context, Eletrosul excels in making
improvements in local communities, such
as individual resettlements into structures
better than its predecessors, infrastructure
improvement in the area, among others,
demonstrated in the Environmental Programs
geared towards the community. As examples,
we mention the programs developed in the
Passo Sao Joao Power Plan, which went into
operation in 2012:
• Redemption of Environmental
Landscape Program;
• Supporting the Tourism
Development Program;
• Population Relocation Program and
Reorganization of the Remaining Areas;
• Program for the Recovery of the Road
System and Basic Infrastructure;
• Plan of Conservation and Usage
of the Surrounding Artificial
Reservoir - PACUERA;
• Environmental Education Program –
involving schools and the community.
Moreover, the indigenous component is
contemplated in all studies of environmental
projects, where applicable, as well as the
various environmental reports generated.
Eletrosul also develops a series of programs
related to socioeconomic and environmental
aspects in areas impacted by construction
and operation of generation and transmission
of electricity, such as power plants, small
hydropowers (SHP), wind power plants,
transmission lines and substations.
Some programs aimed at the public benefit
are listed:
• Social Communication Program;
• Redemption of Environmental
Landscape Program;
• Supporting the Tourism
Development Program;
• Population Relocation Program and
Reorganization of the Remaining Areas;
• Recovery of Basic
Infrastructure Program;
• Negotiation and Land
Acquisition Program;
• Disclosure and Information Program.
• Environmental Plan of Conservation
and Usage of the Surrounding
Artificial Reservoir.
As an example, the formation of artificial
reservoir enables new opportunities for
leisure activities for the surrounding
population, like bathhouses, urban parks,
fishing and boating areas.
We also mention as an example, for the
case of the Passo Sao Joao Power plant,
BRL 307,000.00 were invested in programs
such as the Redemption of Environmental
Landscape Program, Supporting the Tourism
Development Program and the Environmental
Plan of Conservation and Usage of the
Surrounding Artificial Reservoir, which result
in public benefits. Arguably, one of the most
egregious impacts from the operation is
the appreciation of the land in the banks of
the lake; it is mainly by speculation on the
feasibility of the creation of a bathhouse on
its waterfront for use as recreational areas.
This impact contributes as a positive factor in
construction of the project (GRI EC8).
6.13 Relocation
In Transmission Line (TL) developments,
relocations occur in rare cases, more
specifically when the line crosses urban
areas. In rural areas, the right-of-way of the
transmission line accounts for a small area,
therefore occupying less space on properties
and not directly impacting the homes of the
affected community. If this occurs and there
Annual And Sustainability Report Eletrosul 2012 |
125
is no possibility of relocation within the same
property, resettlement or compensation
is required.
For the area of the reservoirs in hydroelectric
power plants, relocation occurs more often.
First, the properties along the river to be
dammed are identified. Together with
environmental licensing and the preparation
of the Executive Project, the socioeconomic
registration is performed in order to quickly
obtain information on the affected population.
In addition, there is the land registry that
supports eminent domain processes, support
for relocation on the remaining property, or
relocations to other properties. The values
calculated for compensation for land, crops,
buildings, and others are based on surveys of
price and amounts customary in the region
of the development; they are previously
presented in specific meetings for the affected
communities. (GRI EU20)
Risk of Corruption (GRI SO2)
In 2012, there were no physical or economic
displacement of people, but 281 people were
compensated. The total amount used for
compensation to dislocated people in 2012
was BRL 14,554,443.05 (GRI EU22).
In 2012, Eletrosul did not developed formalized
and structured evaluations of strategic risks
related to corruption. However, it is important
to note that the company has implemented
a structure to promote the development of
a transparent environment and inhibition
of corruption. We can name the cooperation
of the Coordination Process Control and Risk
Management (CCPR), which aims to identify,
analyze, evaluate and monitor, in an integrated
way with other businesses, critical risks and
the improvement of internal controls; the
Ombudsman (OVGE), which is committed to
the truth of the facts and the ascertainment
of events; the Standing Committee on Ethics,
created to assess complaints and indicate
measures to agents who acted contrary to
ethical principles; and Internal Audit (AUD),
which has competence to evaluate the
processes and procedures of the company.
6.14 Anti-Corruption and Anti-Bribery
Procedures (GRI SO2)
Eletrosul has a Corporate Management
Regulation that covers issues on Conduct in
Work Relations, approved on September 25th,
2001, whose objective is to establish rules
of conduct to be observed by employees
in their work relations and also provide
ethical and moral guidelines, duties,
prohibitions, and penalties that apply
to all company employees.
Questions regarding this regulation are formally
answered by Eletrosul’s Permanent Ethics
Committee. This committee, in turn, is guided
by the Code of Conduct of the Federal Senior
Management, which was approved by the
President of the Republic on August 21st, 2000.
126
The company also adhered to the Unified Code
of Ethics of the Eletrobras companies which,
through alignment with the principles and
conducts previously established in the codes of
ethics of the subsidiaries, is a single document
that was created to direct actions and decisions
in all areas, following the principles and
commitments of the companies in the
system. In item 1.9, the Code of Ethics
stresses the need for disapproval and
reporting of all forms or attempts of
corruption, bribery, and influence peddling.
| Annual And Sustainability Report Eletrosul 2012
In Eletrosul, the ethical principles and
conduct commitments that guide all the
company’s actions are prepared in the
Code of Ethics, which covers all the areas
of the company. These principles value a
transparent conduct, impersonal and the
use of resources in a responsible way by
all its acting professional and involved
parties with the company’s business.
As provided by its risk matrix, the work of the
Internal Audit covers the annual development
of projects of audit focused, exclusively, in the
6. Social Dimension
São Domingos - Water intake
hirings by the company, verifying,
among other items, its legitimacy and
legality, which represents an important
mechanism for mitigating risk of occurrence
of any nonconformities.
to be forwarded to the author of the occurrence.
Depending on the type of instance, it is created
a commission of investigation of the matter. In
other cases, the event can be determined by the
Permanent Ethics Committee.
Instances of corruption identified by
external audiences may be recorded and
the Ombudsman identified by employees
of Eletrosul, beyond the Ombudsman,
may be recorded in the Permanent Ethics
Committee. Cases recorded in the Permanent
Ethics Committee are determined according
to the rite of Resolution 10 of the Public
Ethics Commission.
In 2012, there was no training of employees on
anticorruption policies and procedures of the
organization. (GRI SO3). It was also not recorded
any occurrence of corruption in 2012. (GRI SO4)
For the treatment of these occurrences,
Eletrosul implemented in 2012, an automated
tool queries to the Ethics Committee. Is
expected to go into operation in 2013, the
reporting tool, for the exclusive use of the
internal public, with the proposal to provide
more security to information passed to the
ethics committee, improve communication
between employees of Eletrosul and
systematize the process of determination of
complaints, including involving corruption.
The subjects enrolled in the Ombudsman
are received, filed and sorted by area. The
investigation of complaints is held responsible
for the areas that, within 15 days, give an opinion
6.15 Human Rights (GRI HR4; HR11)
As relates to human rights, Eletrosul has close
attention in order to inhibit practices that may
provide breach of these rights. The company
seeks to sensitize its employees on this topic by
conducting educational activities that address
issues related to human rights policies.
The effectiveness of these actions contributed
to that in 2012, there was only one (1)
occurrence in Eletrosul Ombudsman of a
complaint related to human rights, recorded,
routed and resolved by formal mechanism of
the company.
There are available communication channels
for internal and external complaints, in order
to avoid violation of human rights, both in the
locations where the company operates and the
areas of implementation of new projects.
Annual And Sustainability Report Eletrosul 2012 |
127
Channels of Communication
Ways to Contact
Website
www.eletrosul.gov.br
Service by e-mail of the parties
[email protected]
Telephone service for the parties
Phone: (48) 3231-7300
Ombudsman - receives, analyzes, and responds
requests for information, suggestions, complaints,
criticisms and accusations from parties
E-mail: [email protected]
Phone: (48) 3231-7655 ou 0800.6487822
Rua Deputado Antonio Edu Vieira, 999 - Pantanal Florianópolis - SC
Hours: 8am-5pm
The Permanent Ethics Commission - provides
opportunities to its staff to clarify doubts regarding
the ethical conduct of employees, officers and
agents, minimizing the subjectivity of personal
interpretations of moral and ethical principles,
as well as looking to strengthen the image of the
company and its employees in society.
E-mail: [email protected]
Phone: (48) 3231-7117
General Council of Shareholders
Call, with at least 08 days in advance, published
in the official gazette of the State of Santa
Catarina and the largest circulation newspaper in
Florianopolis.
Relations Area with Investors – major shareholders
and possible investors
E-mail: [email protected]
Phone: (48) 3231-7048. Fax: (48) 3234-5678
Service to Shareholders (SAA) – small shareholders
E-mail: [email protected]
Phone: (48) 3231-7048. Fax: (48) 3234-5678
Department of Corporate Partnership – receives and
forwards requests and suggestions of shareholders
E-mail: [email protected]
Phone: (48) 3231-7048. Fax: (48) 3234-5678
Board of Directors and Supervisory Board
E-mail: [email protected]
Phone: (48) 3231-7048. Fax: (48) 3234-5678
Eletrosul Gazette
E-mail: [email protected]
Phone: (48) 3231-7934. Fax: (48)3234-3494
Human Rights in Supplier Management
(GRI HR1; HR2; HR5; HR9)
Management of Supplies at Eletrosul is a
shared activity between various internal
bodies, with profiles, structures, functions,
powers and specific responsibilities, leaving
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| Annual And Sustainability Report Eletrosul 2012
it to the Department of Supply Management
(DGS) the translation of legal principles and
procedures for standardization. All contracts
for constructions, services and equipment
in Eletrosul obey the laws of domestic and
international purchases, and the specific
partnership agreements.
6. Social Dimension
The volume of acquisitions presents the
following data:
INDICATORS
2010
2011
2012
Number of bidding finalized
1,037
456
1,002
Number of hired items
1,970
1,007
2,838
Formalized Signings
1,201
558
1,074
445,868
170,978
152,654
Value of Contracts– BRL mil
The main contracting works and equipment
associated effect in the period were as follows:
• Hydroelectric São Domingos, located in
Mato Grosso do Sul;
• PCH João Borges, located on the complex
Rio Caveiras in Santa Catarina;
• UHE Passo São João, in Rio Grande do Sul;
• Implementation of the project of
Expansion “C” and “E” of SE Biguaçu 138
kV, in Santa Catarina;
• 138 kV UHE São Domingos - SE Agua
Clara, in Mato Grosso do Sul;
• Expansion “J” / “J2” of 230 kV SE Joinville,
in Santa Catarina;
• Expansion “F” IF Gold 230/138 kV, in Mato
Grosso do Sul;
• Execution Variant LT 750-kV Ivaiporã
Itaberá – Circuits I and II, in Paraná.
In all regions of operation of Eletrosul, the
construction of hydropower plants and / or
Small Hydropower (SHP) and cleaning of tracks
below the transmission lines (TLs) are activities
that pose risks of occurrences of child labor and
young workers exposed. In order to minimize
these risks, the company performs actions with
their employees and suppliers. After joining a
Forum specific to combat violence and sexual
exploitation of children, the company seeks to
develop awareness initiatives of its employees
and other publics.
Moreover, in its Social Investment Policy,
Eletrosul prioritizes the allocation of resources
(Support Fund for Childhood and Adolescence
(FIA) to organizations that develop projects to
protect and defend the rights of children and
adolescents at risk or vulnerability approved by
the Boards of rights of the Child and Adolescent
(municipal, state and federal), protection
against violence (maltreatment, abuse, sexual
and moral exploitation) in projects to combat
child labor, the professionalization of teenagers,
in addition to guidance, support and socialfamily educational measures. In educating
the employees and contractors, they become
multipliers in eradicating instances of such
violence and exploitation.
In compliance to subsection XXXIII of Article
7 of the Federal Constitution, which prohibits
the use of forced or degrading work child labor,
and the commitment made to the UNDP Global
Pact, to formalize such determinations in its
operations, Eletrosul requires its suppliers to
comply with human rights and labor, through
contractual clauses, requesting for registration
and registration qualification in procurement,
a statement signed by the legal representative
of the company, proving that this does not
have in its workforce minors under 18 years at
night shifts, dangerous or unhealthy, or under
16 in any activity, except as an apprentice,
Annual And Sustainability Report Eletrosul 2012 |
129
Outsourced Services
nor employees performing degrading labor
or forced labor. Without presentation of this
Declaration, Eletrosul does not firm contract
with the company, and does not empower in
bidding processes, and doest not even emit the
Certificate of Registration.
In 2012, 1,074 contracts were made, totaling BRL
152,654,200.00, all containing clauses related
to Human Rights, such as the presentation of
a formal declaration of non-use of slave labor
and/or child labor. (GRI HR1).
In order to promote gender and race equality,
the company conducted in 2012, several
initiatives developed by the Eletrosul
Committee of Gender and Race, which
were not formally classified as training,
but who follow the guidelines of the
Department of Policies for Women of the
Presidency of the Republic.
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| Annual And Sustainability Report Eletrosul 2012
More than to guarantee labor rights for its
employees, the company applies the same
to suppliers, including organization and
association, as provided for in the Brazilian
Constitution and Article 9 of the Strike Law
No. 7,783, of June of 1989. In case of strike,
Eletrosul negotiates with unions the stay
of employees required for the power supply
to be maintained. So far no action has been
identified as the restriction of this right to
employees and suppliers (GRI HR5).
6.15.1 Suppliers (GRI EC6)
Eletrosul, in compliance with Law No. 8,666/93
for the selection of suppliers and to honor the
commitment assumed with PNUD – Global
Compact, demands that its suppliers comply
with provisions of Sub-Item XXXIII of Article
7 of the Federal Constitution by requesting a
statement in order to perform the registration
and to allow the participation in bids.
6. Social Dimension
The qualification of suppliers, when applicable, is
complemented through a technical assessment
that meets NBR 12,966 – Technical Assessment
of Suppliers and the requirements of the
Quality Management System (SGQ), according
to requirements of regulation NBR ISO 9001
for suppliers of materials covered by Project
NBR 19000, of the Eletrobras companies. The
assessment of prototypes is also a resource
used to complement assessments or as single
requirement for qualification.
6.16 Product Responsibility (GRI EU25)
Although Eletrosul disseminated safety
information related to the product, in
2012 there were 02 accidents recorded,
and recorded two legal actions related to
workplace accidents, in which Eletrosul
is triggered on a subsidiary in a lawsuit
by an employee of the contractor for
implementation of UHE Passo São João.
Annual And Sustainability Report Eletrosul 2012 |
131
Araucaria - Paraná
7. Environmental
Dimenson
Araucaria is the dominant tree specie of Araucaria forest, occurring mostly in southern
Brazil. It is known by several common names, including Brazilian Pine and Pine-Paraná.
It is also called by a name of indigenous origin, Curi. Its origin dates back over 200 million
years ago when its population occupied the Brazilian Northeast. May reach 50 meters
high with a trunk diameter of 2.5 m at chest height. Its shape is unique in the Brazilian
landscape, like a cup or umbrella.
7.Environmental Dimenson
Eletrosul, based on its strategic positioning, has
worked to diversify its energy sources, always
focusing on renewable sources and, therefore,
seeking the best use of electricity with the
lowest socio-environmental impact.
Having as policy the commitment to
implement and maintain its operational
assets in compliance with environmental
legislations and respect to the population
affected by its developments, the company
develops activities that prioritize good
relationships with all stakeholders.
The Environmental Policy of the Eletrobras
companies establishes principles to deal
with socio-environmental issues associated
with power generation developments of
the companies that integrate the Eletrobras
system. The basic assumption of this policy
is compliance with the guidelines of public
policies regarding environment, water
resources, and social wellbeing, as well as
with international agreements to which
Brazil is a signatory such as the Climate
Convention, Agenda 21, and the Kyoto Protocol,
among others.
To this end, Eletrosul acts in the preparation
and execution of projects, obtaining
environmental licenses for the implementation
of developments and management of assets,
performing physical surveys, appraisal of lands
and betterments, negotiation and regularization
of properties, and monitoring of works.
The policy brings principles for internal
coordination, so that the environmental
dimension can be incorporated into the
company’s processes, and external coordination
for the implementation of environmental
programs and actions coordinated with other
sectors and institutions, in addition to principles
Annual And Sustainability Report Eletrosul 2012 |
135
of relationship with society, sustainable use of
local and regional energy resources, support
for technological and scientific developments
applied to environmental issues, and integration
of the environmental management systems of
the Eletrobras companies.
Eletrosul invested in 2012 BRL 943,307.59 in
preserving biodiversity, BRL 6,997,512.47 in
recovery of degraded areas and BRL 9,717,028.31
in other environmental projects, totaling BRL
17,657.848,37 of investments and environmental
protection expenditures. (GRI EN30)
In 2012, the company received an administrative
penalty of a fine for the UHE São Domingos
project in the amount of BRL 30,000.00, which
is the subject of discussion at the administrative
level, on appeal. Also received notification
environmental embargo that has determined
the stoppage of the works and activities of that
enterprise. Then, an administrative solution
determined cessation of the effects of the
embargo - Without costs. In court, in 2012, there
were no occurrences. (GRI EN28).
7.1 Environmental Licensing
In 2012, 33 environmental permits were
obtained, with 04 prior licenses (LP), 12
Installation Licenses (LI) and 17 Operating
Licenses (LO). 07 licensing exemptions were also
São Domingos - fauna and flora
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| Annual And Sustainability Report Eletrosul 2012
issued. In addition to these licenses, another 39
authorizations were obtained, and 03 issued by
the Institute of Historical and Artistic Heritage
(IPHAN), 07 Permissions and Wildlife Rescue
and 06 Statements of Public Utility (DUP). To
the sum were included even, Environmental
Permissions, Cutting Permissions, Forest
Permits, among others.
7.2 Atmospheric emissions
Eletrosul, as one of the Eletrobras companies
participating in the preparation of the inventory
since 2009, taking along with Eletrobras
commitment to demonstrate transparency
of corporate activity, in relation to their
responsibilities regarding their emissions.
From the diagnosis secured by inventory and
knowing the profile of their emissions, the
company can develop strategies, plans and goals
for management and reduction of emissions
of greenhouse gases, engaging in solving the
challenge of global sustainability.
Inventories follow the methodology of the
Intergovernmental Panel on Climate Change
- IPCC (2006) and the guidelines of the GHG
Protocol corporate standard for accounting
and reporting of emissions. The company
states in its inventory direct emissions
(scope 1) and indirect (Scope 2 and 3).
7.Environmental Dimenson
In Scope 3 indirect emissions were considered
fuel consumption for transportation equipment,
employees on the path home-work and domestic
and international air travel undertaken by the
service jobs (GRI EN17 and EN29).
Were considered in scope 1 direct emissions
from the emergency generator sets operating
at headquarters and in substations, the LPG
consumption in kitchens, from burning vehicle
by themselves or controlled by the company, the
burning of fuels for aircraft leased for exclusive
use of the company, SF6 gas used as electrical
insulation in transformers and circuit breakers,
gas consumed in refills fire extinguishers and gas
consumed in refills air conditioning equipment.
Were considered in scope 2 indirect emissions
from consumption of purchased electricity
distribution network and the losses in the
transmission system (GRI EN16).
From the establishment of a routine for
preparation and publication of inventories
of greenhouse gases every year have been
published one issue being that the content is
being expanded inventoried every issue, insofar
as new sources become incorporated. Table 1
summarizes the evolution of inventories and
published sources inventoried.
Edition
2010
2011
2012
2013
Scope
Year 2009
Year 2010
Year 2011
Year 2012
Scope 1:
Stationary sources;
Mobile sources;
Fugitive SF6
Scope 1:
Stationary sources;
Mobile sources;
Fugitive SF6;
Fugitive
extinguishers
Scope 1:
Stationary sources;
Mobile sources;
Fugitive SF6;
Fugitive
extinguishers
Scope 1:
Stationary sources;
Mobile sources;
Fugitive SF6;
Fug. extinguishers;
Fug. Refrigeration
Scope 2:
EE acquired
Scope 2:
EE acquired;
Transmission
losses
Scope 2:
EE acquired;
Transmission
losses
Scope 2:
EE acquired;
Transmission
losses
Scope 3:
Air Travel;
Transport and
distribution;
Transportation to
and back to work
Scope 3:
Air Travel;
Transport and
distribution;
Transportation to
and back to work
CO2 CH4 N2O SF6
CO2 CH4 N2O SF6
HFCs PFCs
Conteúdo
Gases EE
CO2 CH4 N2O SF6
CO2 CH4 N2O SF6
Annual And Sustainability Report Eletrosul 2012 |
137
The company’s total emissions in the year 2012
as well as a comparison with previous years is
presented in table 2 and graph below:
Base Year
Scope 1 Emissions
(T CO2eq)
Scope 2 Emissions
(T CO2eq)
Scope 3 Emissions
(T CO2eq)
Total emissions
Eletrosul (T CO2eq)
2010
10,464.3
883.24
–
11,347.54
2011
5,456.3
55,856.00
535.00
61,847.30
2012
4,484.94
186,133.00
305.11
190,923.05
Comparative emissions of greenhouse gases – Eletrosul
2012
2011
2010
Total emissions Eletrosul
(T CO2eq)
Scope 3 emissions
(T CO2eq)
The breakdown of emissions by scope is
presented in Table 3 (GRI EN16 e GRI EN17) below:
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| Annual And Sustainability Report Eletrosul 2012
Scope 2 emissions
(T CO2eq)
Scope 1 emissions
(T CO2eq)
190,923.05
305.11
The increase in emissions in 2012 compared to
previous years is due to the strategy of gradually
increasing the number of sources inventoried, as
to consolidate the methodologies used and also
indirect emissions related transmission losses.
The largest order of thermal, in 2012, strongly
influenced the emission factor of the SIN,
which in turn affected the calculation of
GHG emissions related portions “electricity
consumption” and “transmission losses”, as this
factor is used in calculating these emissions. For
this reason, a significant increase in the share
of transmission losses in the year 2011. It should
be noted that these emissions are indirect, for
indeed occur when the power is generated.
There was a reduction in emissions of SF6, the
largest direct emission Eletrosul because of
voluntary actions implemented in order to
maintain a systematic process of continuous
improvement. As an example of this process,
we can mention the treatment / regeneration
gas SF6, the permanent installation of pressure
gauges for monitoring gas pressure and
improving the technical artifacts of seals as
well as the inspection process of the same.
162.74
n.a.
Legend:
n.a. Not applicable
n.d. Not available
n.e. not Specified
v.c. Value reported only for the group of companies
4,484.94
66.32
TOTAL 2012
(t CO2e)
1,787.57
2,631.05
691.30
185,441.70
186,133.00
n.a.
140.39
1.98
61,847.30
535.00
312.00
n.a.
5,456.30
61.00
TOTAL 2011
(t CO2e)
1,716.00
3,679.3
435.00
55,421.00
55,856.00
n.a.
223.00
n.d.
11,347.54
n.d.
n.d.
n.d.
n.d.
n.a.
883.24
n.a.
v.c.
10,464.30
100.01
TOTAL 2010
(t CO2e)
1,657.06
8,707.23
883.24
Transport of
Employees
Distribution
Losses
Transmission
Losses
Subtotal
Scope 1
Fugitive (SF6,
Refrigeration
and Fire
Extinguishers)
Furniture
(Road and
Airways)
Fixed,
Generators
and Other
Scope 1
Electricity
Consumption
Scope 2
Subtotal
Scope 2
Independent
Power
Producers IPPs
Air Travel
Scope 3
Inland
Logistics
Subtotal
Scope 3
TOTAL
7.Environmental Dimenson
Another mechanism used by the company
to reduce emissions is related to alternatives
technological communication. Video
conferences have proved an effective tool,
especially when the number of employees to be
displaced and the time spent on transport is not
viable, both operationally and environmentally.
In 2012, there was a reduction of approximately
59% in emissions from air travel service.
Regarding chemicals that deplete the Ozone
Layer - SDOs, Eletrosul used in air conditioners
headquarters HFC-134a and R22. In 2012,
emissions were of 130 TCO2eq.
Annual And Sustainability Report Eletrosul 2012 |
139
In the decentralized areas replacement gas of air
conditioning is not yet computed. (GRI EN19)
Currently, Eletrosul has no allocation of
emission allowances of CO2 equivalent for
carbon credit of his own ventures being
contemplated only for the Wind Power Plant
Cerro Chato, venture in the form of Special
Purpose Company. (GRI EU5).
7.3 Energy Efficiency
(GRI EN5; EN6; EN7; EN26)
Though Eletrosul does not fit in companies
with obligation to laws to meet the Energy
Efficiency Program of ANEEL, the company
makes investments in the area, according
to the ones mentioned below:
Labeling of the new facilities – Eletrosul
wants all its new facilities to be built based on
the zero energy building concept, that is, using
more efficient installations and with low or no
carbon emission.
New Technologies – Eletrosul invests in the
study of applications of new technologies in
the company’s end, substations, power plants,
transmission lines and PCHs, with the aim of
increasing the efficiency of the system and
make the company more competitive. It is
currently being prepared a technical report on
the feasibility of application of the IEC61850
standard in Systems Protection and Control of
existing and future substations.
Education – The professionals for energy
efficiency of the company present at events and
schools, through lectures, projects undertaken
and the concepts of energy efficiency and energy
conservation. Furthermore, Eletrosul hosts daily
visitors in the Efficient House, which is a house
built with the goal of becoming a showcase of
concepts of energy efficiency, sustainability,
climate adaptation and rational use of water,
not only for the academic community, but also
for professionals who work in the construction
market and the general community. Located
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in the courtyard of the headquarters in
Florianópolis (SC), the Efficient House hosted, in
2012, an audience of 2,763 visitors from various
institutions such as RBS TV, Unioeste, Federal
Institute of Santa Catarina, among others, and
has been indicated as one of the three finalists for
the COGE Foundation Award 2012 in the category
“Environmental Responsibility Initiatives.”
PROCEL - Eletrosul, as a member of the
Eletrobras companies, also works in the area
of energy efficiency programs PROCEL such
as ReLuz, the Edifica (Public Buildings), the
Education, etc.
Among the latest achievements in the field of
energy efficiency projects are the following:
2011/2012 - Novo Hamburgo Reluz: Eletrosul
participated as mediator of the Project ReLuz
in Novo Hamburgo (RS), which included
investments of municipal government in the order
of 25% down and 75% financing through RGR
(Reservation global Reversion). The total project
value is BRL 9,538,195.20 and the energy savings
expected the end of the year is 8,613,680 kWh. The
project includes the installation of 22,852 public
lighting points and 3119.65 kW installed.
2012 – Building Maintenance Sector of Campos
Novos: to be officially opened in 2013, but
already in use, its project was directed to
meet the various concepts of sustainability
as: energy efficiency, energy conservation and
rational use of water.
On site, the energy saved could not be
confirmed by simple comparison before
and after because it is a new building. For
this reason, it was performed a comparative
process with the consumption of the
former headquarters of the sector and the
measurement of the last forty days of the new
building. Since the structure is of the building
is more recent and features workshops, which
did not exist in the previous, a measurement
was used in November 2012 and, based on
7.Environmental Dimenson
Megawatt Solar Project
the usage profile of the old building, made a
forecast of consumption of other months.
Provided the reduction, and considering
the concepts of sustainability used on the
construction, it was estimated a lower
consumption of 50%, of the one that would
have, in case the construction of the building
had the same infrastructure and environments,
occupation and type of work, not taken in
consideration the concepts used.
Alongside the implementation of strategies
and concepts mentioned above, the building
also went through the process of labeling
the Inspection Body for Energy Efficiency in
Buildings, the CERTI Foundation. This process,
as part of the Brazilian Labeling Program (PBE
/ INMETRO), aimed to obtain the National
Label for Energy Conservation (ENCE) in
two stages: first, before the beginning of
the construction, when the whole project
was assessed and obtained the maximum
rating for energy efficiency-level A. After the
construction had been completed, another
evaluation was made, a site inspection by the
CERTI Foundation, which ranked the building
as being the most efficient, emitting the label
level A, for “Edification Built”. Among the
distinctive features of the work, under the
aspect of sustainability, we can highlight: the
use of conditioners split of the type inverter,
efficient lighting with T5 fluorescent tubes, the
use of natural light, the use of rainwater, water
heating by solar collector and wastewater
treatment tank of the root zone (wetland).
Regarding the ANEEL indicators concerning
Energy Efficiency Projects (PEEs) intended for the
formation of culture in conservation and rational
use of electricity by engaging consuming units
that are not applicable to Eletrosul.
Regarding projects of Research and
Development (R & Ds) focused on the
environment, in 2012 it was invested
BRL 1,404,728.12, in 2011 BRL 742,919.84, and in
2010 BRL 1,267,052.28. During this period there
Annual And Sustainability Report Eletrosul 2012 |
141
were no patents registered with the INPI. In
2012, there were no legal actions of R&Ds) that
encouraged pollution prevention.
7.4 Megawatt Solar Project (GRI EN6)
The implementation of the Megawatt Solar may
represent a new moment for solar energy in
Brazil, which has studied the inclusion of the
source in auctions as of 2013. The plant puts
Eletrosul in evidence in this sector, given that
the largest Brazilian project will be integrated
into a building.
Launched in February 2012, the public notice
of international competition No. 91320120044
to hire the implementation of SOL Megawatt
Solar, was won by the consortium EFACEC
MEGAWATT SOLAR. The conceptual project,
which follows the model (BIPV - the acronym
for the Edification Integrated Photovoltaic
System) foresees the installation of photovoltaic
modules on the roof and in the parking lots of
Eletrosul headquarters in Florianópolis, totaling
an area of approximately 10,000 square meters.
The photovoltaic power plant with an installed
capacity of 1 megawatt-peak (MWp), will use
crystalline silicon modules technology.
It is expected the production of 1,063 MWh
of energy in the first year of operation - the
equivalent to the consumption of 489 homes
- avoiding the annual emission of 260 teqCO2
in the atmosphere. The commercial operation
is scheduled for the first half of 2013, and
its energy will be sold for 10 years to free
consumers. Since Eletrosul is seeking to become
a free consumer of energy, between 10% and
20% of the energy of the SOL will be retained
by Megawatt Solar Eletrosul to supply its own
headquarters building, increasing both their
generation as well as their use of clean and
renewable energy sources.
The auction ended with a bid of BRL
8,099,637.28, a discount of 14% against the
budgeted, and part of this amount will
come from a non-reimbursable financing
from German bank KfWBankengruppe.
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The project counts with technical
support from the German Agency for
International Cooperation (GIZ - Deutsche
GesellschaftfürInternationaleZusammenarbeit),
Federal University of Santa Catarina (UFSC) and
the Ideal Institute.
As a way to encourage the growth of a green
energy market in the country and add value to
photovoltaic energy produced, it will be linked
to the commercialization of this energy to issue
a Solar Seal, under the management of the
Ideal Institute. This seal may be used in various
communication mechanisms of the purchasing
company’s energy as a marketing tool, giving
the end customer the sustainable vision of
the company. Due to this strategy, the energy
produced by the plant will be marketed in the
Free Contracting Environment.
In addition to this commercial plant, the
public notice foresees the installation of
an experimental plant of 8 kW of power,
contemplating other photovoltaic technologies
installed in metallic structures adjustable tilt
and solar orientation, allowing the comparative
study of performance of these systems towards
various operating conditions. The Eletrosul
Headquarters Building will absorb the power
generated by this experimental plant.
The Megawatt Solar demonstrates
outstanding performance of Eletrosul in
photovoltaic projects and commercial
plants using this technology.
In the parking lot of Eletrosul Headquarters
there is in operation since February 2009, the
Photovoltaic Pilot Plant. As the name implies,
its purpose was to serve as a pilot for larger
developments, such as the Megawatt Solar
Project in order to develop technical expertise
and evaluate the impacts of the inclusion of
this source in the power grid. With installed
power of 11.97 kWp and a coverage area of
228 m², it produced in 2012, about 12.7 MWh,
which were absorbed by the Eletrosul
headquarters. It is estimated that this generation
7.Environmental Dimenson
is equivalent to the annual consumption of
5.8 homes in southern Brazil. The investment
for its implementation was BRL 397,627.73.
Fully implemented on the premises of Eletrosul
Headquarters Building, these projects will
comprise a large photovoltaic complex
exceeding 1,000 kW, which, in addition to
becoming a possibility of revenue for the
company, will also form their own technical
expertise for future projects in the country.
The company has been developing research
on several fronts in this segment since 2004,
when it was one of the founders of the
project Eletrisol, developed by the Catholic
University of Rio Grande do Sul (PUCRS) for
the implementation of a pilot-plant for the
manufacture of photovoltaic cells and modules.
With the same institution, Eletrosul engaged
the development of a business plan for the
implementation of a photovoltaic cells and
modules production industry, covering all the
technical knowledge obtained with Eletrisol,
and aggregating the legal, fiscal and tax aspects
involved. Currently, runs a project of R & D
ANEEL for purifying silicon solar grade and
wants to put Brazil among the few countries
that have full control of the production chain of
photovoltaic modules.
With these actions, the company solidifies
as one of the main protagonists in the
use of the technology so promising in our
country. Seeking to become one of the largest
companies generating energy from clean
and renewable sources, Eletrosul is investing
heavily in wind farms through SPEs, currently
with 3 power plants in operation totaling
90MW of installed capacity and 19 under
construction, totaling 446MW.
7.5 Materials and Inputs (GRI EN1; EN2)
Though in minimal amounts (parts per million
– ppm), the raw material used by the company
that represents significant environmental
risk is the insulating oil contaminated with
Ascarel, a type of polychlorinated biphenyl –
PCB. The Stockholm Convention, of which Brazil
is a signatory member, has proposed a goal of
elimination of PCBs by 2025.
Eletrosul is already developing their inventory
of PCBs: in 2007, began the work of raising the
amount of insulating mineral oil contaminated
by Ascarel, completing in 2012 a total of 489
power transformers and reactors evaluated. The
assessment of the level of oil contamination of
transformers and auxiliary instruments is still
in progress.
Additionally, 249 isolators have been replaced
and 4.08 activated tons of bauxite contaminated
with oils. To minimize the environmental
impact caused by the use of these materials,
Eletrosul regenerated 135,000 liters of insulating
mineral oil. There is a record of acquisition
of 200 kg of SF6 (sulfur hexafluoride gas) for
equipment replacement. In new circuit breakers,
were purchased 1521.50 kg SF6 gas (not about
operational consumption). The main solvent
used in maintenance activities is benzene. There
is record of the purchase of 4,200 liters. Eletrosul
did not made acquisitions of new cargoes of
mineral oil for equipment replacement.
In 2012, were acquired by Eletrosul Headquarters
Building, 12,083 tons of white paper, while
consumption was 11,313 tons. In the same year,
were acquired 2,451 tons of plastic cups, and the
consumption was 2,344 tons.
Were also purchased 4,484 tons of recycled
paper, representing approximately 37% of total
paper purchased. Consumption was 4,644 tons
of recycled paper, representing about 41% of the
total. The amount of recycled paper consumed
in 2012, 958,500.00 leaves, corresponds to the
area of 5.59 official soccer fields. There was no
acquisition of recycled A3 paper.
7.6 Electric Energy
Much of the indirect energy consumption
of Eletrosul (electricity) is performed in the
function of cooling, lighting and outlets of
Annual And Sustainability Report Eletrosul 2012 |
143
facilities such as control rooms of substations,
maintenance sectors and headquarters
(main and regional). In a few facilities, the
company is connected to the local distribution
concessionaire, and in most, feeding electricity
Electric Energy Consumption (in kWh)
is made directly from the power transformer
substation. The majority of electricity
used by Eletrosul comes from the National
Interconnected System (SIN).
2012
2011
2010
9,950,851.93*
20,079,374.00**
17,319,842.00**
*
From concessionaires in kWh. Source: Consultation of environmental software of Eletrosul SMAA, on 08/01/2013.
**
From own sources and dealerships, in kWh. Source: Consultation of environmental software of Eletrosul SMAA, on 08/01/2013.
7.7 Water
For 2012, it was considered only the consumption
of electricity from concessionaires, having been
disregarded their own sources of consumption.
As a management practice, we highlight the
development of annual inventory of greenhouse
gases (GHG) of the Eletrobras companies. (GRI EN4)
In units of the company where there is
water consumption this happens primarily
by three means:
• Acquisition of Concessionaire Service;
• Capture of Artesian Wells;
• Surface capture of water bodies.
The direct energy consumption broken down
by primary energy source, does not apply to
Eletrosul. This is the energy used for production
of the primary product of a company. Eletrosul
engaged in generation and transmission of
electric power. In case of the transmission
there is no consumption for production and as
generation (own ventures) Eletrosul has only
hydropower generation, and there are no energy
consumption, except the gravitational potential
energy driven by falling water (GRI EN3).
The monitoring of water consumption in
Eletrosul is accomplished with the support
of the environmental Monitoring System of
Environmental Actions (SMAA) software. In
operation since 2008, covering all of its units,
it aims to monitor the environmental actions
through selected indicators and can be accessed
internally via electronic application
2012
2010
Supply (public network) (in m3)
28,696.80
27,335.53
26,397.30
Underground source (well)(in m3)
41,969.00
47,801.00
37,951.00
1,317.00
3,024.00
6,097.00
14.90
N/A
N/A
85,208.00 +
14.9 (rain) =
85,222.90 m3
91,421.00
82,782.00
55,115.10
58,791.60
51,545.40
Surface sources (streams)(in m3)
Rainwater collection (in m3)
Total water consumption (in m3)
Water consumption per employee (in m3)
Source: Consultation of environmental software Eletrosul SMAA, on 08/01/2013.
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7.Environmental Dimenson
Wildlife - Headquarters
In case of supply by the network (public
concessionaire), it is not possible to identify the
affected water source. However, cases of supply
by capturing artesian wells are more common,
occurring in electric power substations, and its
consumption monitored by software SMAA,.
The cases of supply by capturing surface water
bodies are exceptional and not everyday, just in
order to meet some of the fire-protection systems
for electrical substations, when necessary - not
considered, then, so significant. (GRI EN9)
Of the four hydroelectric projects from Eletrosul,
in compliance with Federal and State Laws
governing the use of water resources, Passo São
João hydroelectric power plant, in operation, has
a grant issued for water use permitting uptake of
333m³/s of water from Ijuí river (RS) and the Small
Hydroelectric Power Plant (SHP) Barra do
Rio Chapeu, in construction, has a grant for river
Braço do Norte (SC), without stipulating the
flow set. The other projects under construction
have had their grants required awaiting the
manifestation of the competent organs.
For discussion of issues relating to water,
Eletrosul, whenever invited, participates
in basin committee meetings. As its main
product is the transmission and generation of
hydroelectric energy, Eletrosul does not use
water for cooling, processing and consumption
in thermal and nuclear plants including the use
of water in ash handling. (GRI EN8)
Eletrosul being a company that operates in the
Generation (Hydroelectric and Wind Energy)
and Electric Power Transmission, the use of
water is not used in the production chain
of the service provided, therefore does not
significantly affect the hydric supply by
water removal. Among initiatives of its policy
of environmental responsibility, Eletrosul
developed projects for reuse of rainwater.
Taking advantage of rain water in the Regional
Maintenance Division West (DROE) unit is in
operation since January 2012, and is currently
used for irrigation of a community garden
nearby. The tank of 45,000 liters and 5,000
liters of the reservoir of the community garden
are sufficient to irrigate the entire acreage
– about 8,000 m2 – for 20 days. According to
information from the company responsible
for water supply in the region, this volume
corresponds to the water consumption of a
family of three, of moderate consumption, for a
period of five months.
The administrative building of Maintenance
Sector of Campos Novos (SMCNO), since
October 2012 includes a sustainable tower with
a total height of 8.25 meters and a diameter of
Annual And Sustainability Report Eletrosul 2012 |
145
1.91 m, seeking energy efficiency and rational
use of water, which is the main difference
compared to the conventional approach that
combines in a single element of a system
of solar water heating and a rainwater
utilization system with a capacity of 10,000
liters for non-potable purposes. In the tower
is still inserted the water tank supplied by
the public concessionaire. The tower system
is autonomous, when there is shortage of
rainwater, consumption points of non-potable
water will be supplied with water from the
public supply system. The tower also provides
advantages regarding the aesthetic effect of
the building, and reduces the risks with leaks
and maintenance. Its design has participated in
shows, events and received awards.
The reuse of rainwater is not yet measured in
DROE (action is expected to start in 2013). In
2012, consumption of storm water in the unit
SMCNO was 14.9 m³ (November and December)
while potable water was 42.7 m³. During
the period, the consumption of rainwater
represents savings or recovery of 25% of the
total water needed for the building. Rainwater
is used in the bathroom (toilet and urinal) for
washing floors and sidewalks and water the
garden (GRI EN10).
7.8 Waste Management
(GRI EN22, EN23, EN24)
Solid waste generated by the activities office
Eletrosul, both in the company Headquarters
and in other administrative facilities are
collected by municipal collection and,
when recycled, are intended to associations
of collectors of recyclable waste in the
municipalities interested, via agreement
- actions already in place in the unit
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headquarters, Substation and Maintenance
Sector of Joinville, Dourados and Santo Ângelo
and the Regional Maintenance of Paraná, Mato
Grosso do Sul, Santa Catarina and of the west action under implementation in other areas of
the company. Thus, in addition to contributing
significantly in reducing the volume of waste to
the environment, it also contributes to society
through the creation of jobs for many families.
The solid waste generated by the activities of
maintenance and operation of the transmission
system themselves, characterized as hazardous
waste, is collected and stored in the sources
selectively, according to their main feature (oily
wastes, contaminated with solvents etc.), and
sent to specialized companies in transportation,
treatment and final disposal of this waste
category. To follow this process, the company
has a practice of requiring Certificates of
Allocation, which include all the information
necessary for this control.
Waste management is carried out electronically
and with power decentralized of information.
In addition, the company formalized its
concern with the correct shipping of dangerous
goods between their areas, developing and
distributing educational materials to those
involved.
In 2012 there was no recorded occurrence
of leaking oil, according to the records of
contingency. In 2011, 14 incidents were recorded,
with a total volume of 600 liters.
The following is a table showing the total
weight of hazardous waste and the company’s
total per year.
7.Environmental Dimenson
2012
2011
2010
191,927.55
62,339.70
110,013.40
1,764.80
51,146.80
15,698.65
3.80
5.21
9.20
Total weight of imported hazardous waste (Kg)
0
0
0
Total weight of exported hazardous waste (Kg)
0
0
0
TOTAL residues Eletrosul (kg)
Total weight of hazardous waste transported
(Industrial Landfill) (Kg)
Total weight of hazardous treated waste
(incineration) (Kg)
Source: Consultation of environmental software Eletrosul SMAA, on 09/01/2013.
For all residues shown above, when performing
services for transportation and disposal
contractor, it is requested the Certificate
of Allocation contemplating the main
information about the process (such as
location and date of the destination, weight
and type of waste destined, among others)
and legally supporting Eletrosul.
Eletrosul is a company that operates in the
generation and transmission of electricity,
primarily in the states of Rio Grande do Sul, and
Santa Catarina, Paraná and Mato Grosso do Sul.
The transport of hazardous waste resulting from
the contracting of the allocation in landfills or, to
a lesser extent, incineration (waste health) does
not exceed the territorial limit of these states.
The disposal of the hazardous waste generated
always occurs in landfills or closest incinerator.
The transport of hazardous waste arising from
the allocation of contracts in landfills or, on a
smaller scale, incineration (waste health) does
not exceed the territorial limit among the states
where the company operates.
The company has formalized the issue of
transportation of dangerous products between
their areas for all types of waste generated
and developed and distributed an instructional
manual, widely circulated to the units involved
with this issue.
Currently, hiring and managing the process of
disposal of solid waste, both Class I and Class II,
occur in a pulverized and decentralized manner,
under the responsibility of the generating units.
The following frame has the total weight of
waste by type.
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147
Eletrosul Residues
2012
Disposal Methods
Alienation
4,090.90
TOTAL Class I – dangerous (Kg)
Industrial Landfill
Incineration
Recycling
TOTAL Class IIA – non-dangerous (Kg)
100,334.65
3.80
2,473.20
Common Landfill
47,146.00
Municipal Collection
31,307.75
Composting
1,461.00
Recycling
3,559.10
Municipal Collection
Others
TOTAL (kg)
1,613.80
14,376.00
Industrial Landfill
87,502.00
0.10
Alienation
Reuse
TOTAL Class IIB – non-dangerous (Kg)
Amount
Disposed(Kg)
2,484.80
151.00
16,351.00
71,000.00
191,927.55
Source: Consultation of environmental software Eletrosul SMAA, on 09/01/2013
In 2012, spending on treatment and disposal
of toxic waste was BRL 8,308.30. In 2011 was
BRL 16,387.41 and in 2010 was BRL 28,150.00.
In 2012, spending on the disposal of nonhazardous waste was BRL 10,637.40. In 2011
was BRL 1,440.00 and in 2010 was BRL 2,382.38.
148
There are no records of waste broken down
and / or excluded from routine operations.
There is no applicability to waste dam and
waste for companies with sands, oil and / or
mining sands operations.
Regarding indicators for the replacement of
Ascarel in equipments and the percentage
of lamps decontaminated compared to total
replacements in consumer units, are not
applicable to Eletrosul.
Eletrosul does not have equipments
containing pure Ascarel, only mineral
insulating oil contaminated with this
compound. In 2012 there were no records of
disposal of solid waste contaminated with
polychlorinated biphenyl – PCBs.
7.9 Biodiversity and Protected Areas
The management of solid waste is carried
electronically through Eletrosul’s environmental
software - Monitoring System of Environmental
Actions (SMAA). In operation since July 2008,
features decentralized power and subsidizes
environmental monitoring actions required.
Generation projects from Eletrosul are not
located in areas of Conservation Units. In other
locations, in the narrow easements, impacts
on biodiversity are not as significant as those
caused by generation projects, due to the linear
characteristic of Transmission Lines.
| Annual And Sustainability Report Eletrosul 2012
(GRI EN11; EN12; EN13; EN14; EN15; EU13)
7.Environmental Dimenson
In the areas where electric projects are
implemented, to mitigate environmental impacts
such as vegetation suppression, flooding and
changes in the composition of flora and fauna,
Eletrosul develops Environmental Impact
Assessments and Environmental Impact Report
(EIA / Rimas) or Simplified Environmental Reports
(RAS), for small business ventures and performs
all necessary environmental measures.
It is the practice of the company to develop
actions of recovery of degraded areas,
reforestation and monitoring, waste
management and erosion control. Generally,
these practices are performed by contractors
hired to carry out the works under the
coordination and accountability of Eletrosul.
For the areas where vegetation suppression
is performed, the company makes an intense
work of reforestation. To get an idea, in
2012, 1,600 native seedlings were planted in
Permanent Preservation Areas (APP) of PCH
Barra do Rio Chapeu. Furthermore, Eletrosul
promotes campaigns of fauna monitoring
before implementation of the project, which
allows to perform surveys of species existing
at the site prior to the intervention; saving
flora before the suppression of vegetation and
reforestation aimed at maintaining genetic
variability and scaring wildlife rescue and to
save the specimens during the filling of the
reservoir. There are also provided for monitoring
programs for the period after the completion
of the works, in order to obtain a comparative
biodiversity before, during and after the
implementation of the project.
The area of operation of Eletrosul involves the
Cerrado (Midwest), Atlantic Forest (South),
Pampas (South) and the Amazon Forest (North),
where there are several endangered species. For
there to be the preservation of these species,
there are environmental studies developed
by the company list and monitor their habits
during the works.
Regarding the indicators of ANEEL concerning
distribution networks, urban forestry and
recovery of degraded areas in this area, they
are not applicable to Eletrosul.
In 2012, the total native vegetation suppressed as
a result of maintenance activities of transmission
lines was 2,671.9 mst, the total native vegetation
suppressed related to transmission projects
was mst 126.10 and 185.05 m³, and the total native
vegetation suppressed related to generation
projects was mst 79,611.378, totaling 82,409.378 mst
and 185.05 m³. In 2011, the total native vegetation
suppressed as a result of maintenance activities
of transmission lines was 2,774.20 mst, and in 2010
was 2,025.8 mst.
7.9.1 Environmental Protection Areas
(GRI EN13)
The guidelines adopted by Eletrosul for
the maintenance of the APPs (Permanent
Protection Areas) prioritize the use of models
for the conservation of biodiversity and the
conservation of the biofunctionality and recovery
of interactions between organisms of the system.
This vision strives to rebuild natural succession
processes, increasing resilience and directing
the community toward integration with its
surrounding landscape, reflecting about its
processes and its actual field capacity.
Thus, the company is updating the nucleation
process in the APPs, aiming to generate small
centers and wait for the large empty areas
between them to be slowly occupied by diversity
compatible with the set of biotic and abiotic
factors of the area in question. As a result, these
techniques produce a variety of natural flows
over the disturbed environment, maintaining
key processes and contributing to the recovery of
complexity in the natural systems.
7.10 Eletrosul’s Environmental
Management (GRI EN26)
In addition to the actions taken in the
Environmental Programs for each project, in
2012 there were initiatives aiming to mitigating
the environmental impacts of products and
services of the company:
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149
Campaign Against Slash and Burn
Annual Campaign Against Slash and Burn
Since 1995, Eletrosul has developed the Annual
Campaign Against Slash and Burn practices,
with a preventive and educational nature. The
purpose of the campaign is to inform rural
landowners whose properties are located close
to transmission lines and power substations, as
well as the general public, about the dangers of
adopting this practice in these areas. The campaign
includes a 60-second jingle aired on AM radio
(especially in the countryside), billboards, posters,
folders, caps, and shopping bags in grocery stores.
This material is distributed to landowners, unions,
city halls, and other entities with which the target
audience maintains a relationship. In 2012, it was
recorded 03 fire occurrences in Rio Grande do Sul,
in Campos Novos LT - Nova Santa Rita (01/09/2012
and 02/14/2012). Other 03 events were recorded in
Paraná, in LT Areia - Ponta Grossa Norte (02/07/2012),
the LT Ivaiporã - Londrina 2 (09/18/2012) and LT
Ivaiporã - Londrina 1 (09/18/2012).
Community Vegetable Garden Program
Since 2001, Eletrosul develops the program as
a strategy for managing the security areas of
transmission lines located, especially in large
urban centers. Besides educating communities
about the risks of illegal occupation, the
program gives opportunity so they can
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produce, diversify feeding and strengthen
their income. The initiative aims to benefit the
families through education, entrepreneurship
and professional qualification. In addition to
the technical definitions of the locations to be
implemented, it promotes the registration
of families, lectures and trainings, project
tracking and monitoring of results. The
integration between community, government
and the private sector has been the basis
for successful actions. In the four states of
operation of Eletrosul, there are 32 community
gardens in operation.
Environmental Programs Projects
It is the practice of Eletrosul actions the
recovery of degraded areas, waste management,
reforestation, environmental education
and monitoring and erosion control during
the implementation of its projects that are
typically performed by contractors hired by the
company through public tender according to
Law No. 8.666/1993, leaving the coordination
and monitoring of the activities under the
responsibility of Eletrosul.
Waste Recycling
Recyclable waste is destined for Associations
Collectors of Recyclable Waste of the
7.Environmental Dimenson
municipalities interested, via agreement - action
to be extended in future in all areas of the
company. The percentage of waste generated
by Eletrosul recycled and reused in 2012 were
3.14% and 8.78%, respectively. Spending on
waste recycling in 2012 was BRL 6,768.10 and
BRL 2,588.10 in 2011.
The percentage of waste sent for recycling with
no ties to the company is null.
Eletrosul’s Asset Management
The processes of the institution of servitude or
expropriation of land for implementation of
projects involve a process to establish better
relationships with the local community. In this
process it promotes registration with personal
data of the owner of the documents evidencing
ownership or dominion of the area in question,
an inventory of land and improvements for
correct evaluation of values and a coherent
negotiating with the owner. For cases of
establishment of easements for transmission
lines there is a record of the easement to
usage restrictions upon compensation. To
expropriations (substations and generation
plants), the expropriation occurs, through
the acquisition of the property. In the case
of reservoirs, it is analyzed the viability of
the remaining area and the possibility of the
owner to continue living and / or using the
site. Moreover, the payment of legal expenses
is done (fees, certificates, deeds, records, taxes,
etc.) through responsibility of Eletrosul and
also an expediting construction that consists
of monitoring, with a view to provide an
harmonious relationship with the owners, in
order to prevent and ban damages the proper
progress of the works
7.11 Contingency Planning,
Management Plan and Training
program for Disasters/Tragedies
(GRI EU21)
In the activities of electricity transmission,
all activities of operation and maintenance
of Eletrosul are regulated by internal rules,
among which Maintenance Manuals (MMs),
Operation Manuals (MOs) and Medical
records and Contingency Plans (PPPs) The
medical charts and Contingency Plans are
developed individually for each transmission
unit of the company.
With the objective of meeting the flaws of
equipment in an emergency, each facility
has its own Contingency Plan.
As for the Medical records of installation to meet
the requirements of item 10.2.4 of the NR-10 and
contains basic guidelines for implementation
of control measures and preventive system, to
ensure the safety and health of workers who
directly or indirectly interact with electrical
installations and services with electricity in
its various uses and applications, and any
proceedings in its vicinity.
Eletrosul has an application in the Serv
Notes Eletrosul, where are published the
medical charts and Contingency Plans for
their facilities.
For the activities of electricity generation, taken
over by Eletrosul throughout 2012, the MMs and
MOs are in current development stage. PPCs are
still under development for the hydroelectric
plant of the company in operation, UHE Passo
São João (Ijuí River, Rio Grande do Sul), which
already has a training program for emergencies
- PAE institutionalized.
The identification of contingency and
communication to the related areas is
made through the Operating Center System
Eletrosul – COSE. The operation must take the
following steps:
• Trigger maintenance crews and
equipment protection and responsible
sector, as established in the Maintenance
Manuals - MMs, Operation Manuals
– MOs and medical charts and
Contingency Plans – PPCs for each unit;
• Identify the equipment reserve of the PC
via BDE database, transaction SCE;
Annual And Sustainability Report Eletrosul 2012 |
151
• Request the Operator / maintainer to
send photos of damaged equipment to
executive teams;
• Inform the insurance representative of
the Regional occurrence of the accident
to take appropriate steps, formalizing
the accident;
• Inform to the appropriate Regional
Manager and System Maintenance
Department (BMD) the occurrence of the
contingency and the steps taken so far.
For the enterprises in the area of transmission,
Maintenance Manuals - MMs, Operation Manuals
- MOs and Medical records of Installation are
available in electronic application available for
internal consultation, and medical charts and
Contingency Plans - PPCs in addition to electronic
media, are available in hardcopy in each of
the respective units in a visible place readily
accessible for use in the workforce.
For the activities of electricity generation, taken
over by Eletrosul throughout 2012, the MMs
and MOs are in current development phase
(individually, to each new generation unit of the
company) and as soon as they are completed
and formally approved will be included in the
Barra do Rio Chapéu - Dam and sanitary flow
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| Annual And Sustainability Report Eletrosul 2012
electronic application together with the other
documents in this sphere. The PPCs still under
development phase for the hydroelectric plant of
the company in operation, UHE Passo São João
(Ijuí Rio, Rio Grande do Sul), which already has a
Care Plan for Emergencies (PAE) institutionalized.
In 2012 there were 03 fire occurrences in the
state of Rio Grande do Sul, in Campos Novos
LT - Nova Santa Rita (01/09/2012 at 7:39pm and
7:46pm, and 1:22pm on 02/14/2012) . There were
also 03 occurrences in the state of Paraná, in
LT Sand - Ponta Grossa North (02/07/2012 at
3:19pm), the LT Ivaiporã - Londrina 2
(09/18/2012 at 4:03pm) and LT Ivaiporã –
London 1 (09/18/2012 at 4:10pm).
In 2011 there was an occurrence motivated
by Burn / fire under the line Ivaiporã – Salto
Santiago 2 525kV (12/17/2011 at 3:20pm).
7.12 Environmental Education
and Awareness
The number of employees trained in the
environmental education programs in Eletrosul
in 2012 was 31, corresponding to 2.00% of total
employees. 2011 there were 284 employees
representing 18.21% of the total and in 2010
7.Environmental Dimenson
were 319 employees representing 19.81% of total
employees. There were no associated resources
invested in this period.
For UHE Passo São João, considering the fall and
wattage, comes to 3,688 m³ / s / MW (equivalent
to 0.003688 m³ / s / kW).
The environmental education promoted by
Eletrosul facing the community are basically
the Program Open House (both in the
Headquarters and the traveling unit) and the
environmental education programs due to
the implementation of new generation and
transmission of energy. In 2012 the company
served 338 units of primary and secondary
schools, 16,583 students and 1,215 teachers
were trained. In 2011 the company served 493
teaching units, 19,400 students and 21 teachers
were trained, and in 2010 met 02 teaching
units and 88 students. Units of higher and
technical education are not addressed, as the
indicator is not applicable.
The reservoirs of Eletrosul have been recently
formed, and were not identified occurrences
relating to erosion of the border. However, the
areas susceptible to erosion were mapped and
are being monitored.
As for the indicators of ANEEL regarding energy
efficiency programs for the training of culture
in conservation and rational use of energy,
because they involve consumer units they are
not applicable to Eletrosul.
7.13 Energy Generation
In 2012, Eletrosul’s power generation was in the
Hydroelectric Passo São João and at the Barra
do Rio Chapeu Small Hydropower. This year,
consumption of electricity generating units and
auxiliary was 282 kWh.
Water consumption per kWh generated can be
expressed in m³ / kWh (volume / power) and
depends on the net fall checked and power
that the generator operated in the range, and is
therefore not a fixed value. For UHE Passo São
João, considering the fall and wattage, comes to
13,278 m³ / kWh.
The consumption of water outflow (m³ / s)
is associated with power (MW), and not the
energy (MWh), and similarly dependent on the
drop verified net and power that the generator
operated at halftime. The larger the drop, the
smaller water consumption and higher power,
lower consumption proportional (higher yield).
Regarding the restoration of riparian vegetation,
the number of seedlings planted in 2012 was
1,600 native seedlings in APP PCH Barra do
Rio Chapeu.
As for the quality of water and sediments
of the reservoirs, were monitored totals
parameters for UHEs Sao Domingos and
Passo São João. PCH João Borges did not have
campaigns monitoring water quality in 2012.
Information about rescue fish in turbines
are not yet available, to be initiated in 2013.
As for the repopulation of fishes (number of
fingerlings released into reservoirs annually)
would be applicable to UHE Passo São João and
PCH Barra do Rio Chapeu, however the release
of exotic fingerlings is prohibited. As for to
fingerlings in the region, the issue is still under
discussion with environmental agencies.
In 2012 the consumption of oils and greases
(liters of lubricating oil used monthly for
turbine water) was 1,500 liters per 2,252.83 hm3
(2,242.65 hm3 of turbine water at power plant in
Passo São João and 10.18 hm3 of turbine water
PCH in Barra do Rio Chapeu). Is not yet necessary
to carry out removal of waste reservoirs.
In 2012 there were no reports of release of
wastewater without treatment, and there was
no leakage of turbine oils.
As for the indicators of ANEEL regarding thermal
generation and wind energy, and the use of
alternative energy sources in environmentally
protected areas, they are not applicable to
Eletrosul (in 2012, wind power in Special Purpose
Entities (SPEs) and / or consortia).
Annual And Sustainability Report Eletrosul 2012 |
153
Pantanal - Mato Grosso do Sul
“The Pantanal is one
haven of mother earth
A masterpiece of
Mato Grosso do Sul
It consists of rivers,
Wetlands and dense flora
And a beautiful fauna and
A colossal blue sky!
Between diversity
Fauna stand
The gallant Ema
Dapper Blue Macaw
The graceful and beautiful
Heron White Pantanal
And the majestic and
Imposing Tuiuiú! ... “
Wetland , a natural paradise!
...”
Pantanal, um paraiso natural!
Edson Amorim
Pantanal - Mato Grosso do Sul
8. Awards and
Recognition
(GRI 2.10)
Blue Macaw is a bird that inhabits mainly the Midwest region of Brazil. It has blue
plumage with a bare yellow skin around the eyes and ribbon of the same color at the base
of the jaw. Its beak is disproportionate, seemingly bigger than the skull itself. Their food
in the wild consists of palm seeds, coconuts and especially licuri.
8. Awards and Recognition (GRI 2.10)
Eletrosul awarded the
Transparency Trophy
Eletrosul is one of five private companies in
Brazil awarded the Transparency Award, the
National Association of Executives in Finance,
Management and Accounting (ANEFAC), in
partnership with the Institute of Accounting,
Actuarial and Financial (FIPECAFI) and the Serasa
Experian Company. This is the second time that
Eletrosul has received the award.
n event at the Federation of Industries in
the state of Santa Catarina, on February, it
was held the delivery of Ecology Expression
Award, highest environmental award of the
South region. At the time, Eletrosul received
the trophy Green Wave, for the projects
“Upper Uruguay” in the category
“Environmental Control Technology” and
“Efficient House”, in the category “Social
and Environmental Technologies”.
Eletrosul received ODM Certification
During the Second State Symposium of the
Millennium Development Goals, held in
Florianópolis, Eletrosul received the ODM
Certification in 2012. The company is one of
the few organizations that have all their
actions classified in the Millennium
Development Goals (MDGs).
“Efficient House” was a finalist
for the COGE Foundation Award 2012
In its 12th edition of the COGE Foundation
Award, Eletrosul was one of three finalists
classified with “Efficient House”, in the
category “Environmental Responsibility
Initiatives.” 35 companies from the electric
energy enrolled in four categories - Social
Responsibility Initiatives, Training and
Personnel Development, Management of
Health and Safety at Work and Environmental
Responsibility Initiatives.
Annual And Sustainability Report Eletrosul 2012 |
159
Eletrosul among the largest
on the magazine “Amanhã”
Eletrosul is among the largest companies
in the South, according to the ranking of
the Top 500 South conducted by Amanhã
magazine in partnership with the auditing firm
PricewaterhouseCoopers (PwC). The state reached
the 7th position among the 100 largest in Santa
Catarina and 28th place in the South. The magazine
analyzed the Value Weighted Greatness (VPG)
of each company index, which results from the
balance sheet and statements of income: equity
(weighting 50%), gross revenues (40%) and
income - net income or loss (10%) using as sources
the official balance sheets published by the
companies. According to the ranking, the VPG of
Eletrosul reached BRL 1.92 billion.
Building of Maintenance Sector
in Campos Novos receives
energy efficiency label A
The new facilities of the Sector for Maintenance
of Campos Novos - the first commercial building
sustainable of Eletrosul – obtained the label
”Level A” energy efficiency in accordance with the
Brazilian Labeling Program (PBE).
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| Annual And Sustainability Report Eletrosul 2012
The building, which has two floors totaling 560
square meters of building area, includes, among
other solutions a sustainable tower, seeking
energy efficiency and rational use of water. The
tower contains a sustainable elevated reservoir of
drinking water, three thousand liters, solar heating
system of water and a system for collection of rain
water, with a reservoir of about 10,000 liters. The
project has participated in exhibitions and events
and received awards.
Eletrosul receives the award
“Brazil Environmental Action”
The award “Brazil Environmental Action”
honored the major personalities and companies
that contributed to the preservation of the
environment and promotion of innovations in
various sectors of the economy. Eletrosul received
the award for the project Alto Uruguay (1st phase)
in the category “Best Work in Energy Efficiency.”
The Alto Uruguay is a project of Eletrobras, in
partnership with Eletrosul, Movement of People
Affected by Dams (MAB) Unochapecó Research
Institute of Urban and Regional Planning Federal
University of Rio de Janeiro (IPPUR / UFRJ) and
municipal governments.
8. Awards and Recognition (GRI 2.10)
ISO Certification
Pantanal - Mato Grosso do Sul
9. IBASE
Alligator from Pantanal is a reptile measuring from 2 to 3 meters long and lives primarily
in Pantanal, the Midwest region of Brazil. Its color pattern is quite varied, with the back
particularly dark, with yellow transverse bands, especially around the tail. Even with its
mouth closed is possible to see many teeth, which cause the gator to be sometimes called
Pirana-Gattor. Their diet consists of fish, molluscs and crustaceans. The stool from this
alligator provides food for many fish.
9. IBASE
(Amounts in BRL Thousand)
1 – Wealth Generation and Distribution
In 2012
In 2011
Distribution of added value
-21,5% government
46,4% employees
19,3% government
35,7% employees
The Value-Added Statement
(VAS) is presented, in full,
in the Financial Statement.
11,2% shareholders
63,9% financiers
12,4% shareholders
32,6% financiers
In 2012
In 2011
206,138
204,619
203,967
202,690
2,171
1,930
16.02
16.10
1.05
1.00
2 – HUMAN RESOURCES
2.1 – Remuneration
Gross Payroll (GP)
Employees
Administrators
Ratio between lowest
and highest remuneration
Employees
Administrators
2.2 – Benefits Granted
Total (BRL
thousand)
% over
GP
% over
NI
Total (BRL
thousand)
% over
GP
% over
NI
Payroll charges
72,661
35.25%
6.31%
70,074
34.25%
8.29%
Food
19,021
9.23%
1.65%
19,234
9.40%
2.28%
299
0.15%
0.03%
197
0.10%
0.02%
Private Pension Plan
25,745
12.49%
2.24%
58,631
28.65%
6.94%
Health
19,128
9.28%
1.66%
16,665
8.14%
1.97%
Occupational health and safety
2,089
1.01%
0.18%
1,796
0.88%
0.21%
4,119
2.00%
0.36%
3,933
1.92%
0.47%
-
0.00%
0.00%
-
0.00%
0.00%
Professional training and
development
3,063
1.49%
0.27%
4,085
2.00%
0.48%
Profit Sharing
31,772
15.41%
2.76%
33,196
16.22%
3.93%
Others
6,270
3.04%
0.54%
5,931
2.90%
0.70%
184,167
89.35%
16.00%
213,742
104.46%
25.29%
Transportation
Education or child-care assistance
Culture
Total
Continues...
Annual And Sustainability Report Eletrosul 2012 |
165
...continuation
2.3 – Breakdown of Workforce
In 2012
In 2011
1,546
1,555
9
83
18
134
219
124
26
31
469
404
1,278
1,288
268
267
–
–
Between 18 and 35 years of age
494
551
Between 36 and 60 years of age
1,019
983
33
21
–
–
14
14
High School
143
144
Technical Secondary School
570
575
Higher Education
528
530
Graduate course
291
292
Number of employees at the end of fiscal year
Number of hires
Number of terminations
Number of interns at the end of fiscal year
Number of employees with
special needs at the end of fiscal year
Number of outsourced workers
at the end of fiscal year
Number of employees by gender:
Men
Women
Number of employees by age group:
Under 18 years of age
Over 60 years of age
Number of employees by education level
Illiterate
Elementary/Middle School
Percentage of individuals in management positions, by gender
86.67%
81.48%
13.33%
18.52%
2.4 – Labor Contingencies and Liabilities
In 2012
In 2011
Number of labor suits against the entity
1,255
1,193
Number of labor suits deemed valid
41
75
Number of labor suits deemed groundless
82
81
1,208
737
Men
Women
Total severance pay and fines resulting
from legal procedures
Continues...
166
| Annual And Sustainability Report Eletrosul 2012
9. IBASE
...continuation
Total (BRL
% over
GP
% over
NI
1,959
-0.82%
0.17%
885
-0.37%
4,116
Total (BRL
% over
GP
% over
NI
2,052
1.77%
0.24%
0.08%
362
0.31%
0.04%
-1.71%
0.36%
6,085
5.27%
0.72%
675
-0.28%
0.06%
654
0.57%
0.08%
-
0.00%
0.00%
-
0.00%
0.00%
Job and income generation
1,340
-0.56%
0.12%
1,352
1.17%
0.16%
Others
1,528
-0.64%
0.13%
2,515
2.17%
0.30%
10,503
-4.38%
0.92%
13.020
11.26%
1.54%
139,429
-58.04%
12.11%
119,293
103.14%
14.12%
-
0.00%
0.00%
-
0.00%
0.00%
149,932
-64.42%
13.03%
132,313
114.40%
15.66%
3 – Interaction with the environment
thousand)
thousand)
3.1 – Relationship with the community
Total investments in
Education
Culture
Health and infrastructure
Sports and Leisure
Food
Total investments
Taxes (excluding payroll taxes)
Financial compensation
for the use of water resources
Total – relationship with the community
3.2 – Interaction with suppliers
In the social responsibility criteria used for selecting its
suppliers, controls are required in compliance with specific
laws and rules regarding Procurement Law No. 8,666, of
06/21/1993, Law No. 10,520, of 07/17/2002, and Decree No. 5,450,
of 05/31/2005. Satisfaction surveys are conducted, focusing on
the supplier registration system and on the electronic bidding
system. The company verifies compliance with issues such as
staff training and remuneration, uniform, food, and the health
and safety of employees and contractors.
Annual And Sustainability Report Eletrosul 2012 |
167
...continuation
Total (BRL
thousand)
% over
GP
% over
NI
Investments and expenditures in
maintenance of operational processes for
improvements in the environment
6,311
-2.63%
0.55%
Investments and expenditures
in the conservation and/or recovery of
disturbed environments
7,540
-3.14%
38
Total (BRL
% over
GP
% over
NI
154
0.13%
0.00%
0.66%
3,063
2.64%
0.36%
-0.02%
0.00%
3
0.00%
0.00%
1
0.00%
0.00%
124
0.11%
0.01%
7,044
-2.93%
0.61%
6,623
5.73%
0.78%
Number of environmental, administrative
and legal suits filed against the entity
-
0.00%
0.00%
-
0.00%
0.00%
Total monetary value of fines and
compensation related to environmental
issues, determined administratively and/
or legally
-
0.00%
0.00%
-
0.00%
0.00%
Environmental liabilities
and contingencies
-
0.00%
0.00%
-
0.00%
0.00%
20,934
-8.72%
1.82%
9,967
8.60%
1.15%
4 – Interaction with the Environment
Investments and expenditures in
environmental education provided
to employees, outsourced workers,
self-employed individuals, and managers
of the entity
Investments and expenditures
in environmental education
for the community
Investments and expenditures
with other environmental projects
Total interaction with the environment
thousand)
5 – Other information
168
Net Income (NI)
1,151,122
844,917
Operating Results (OR)
-240,214
115,659
| Annual And Sustainability Report Eletrosul 2012
9. IBASE
Pantanal - Mato Grosso do Sul
10. Perspectives
Jaguar is a feline found mostly in places with great presence of water. It is known to enjoy
swimming and walks usually alone. It is an important predator, playing a key role in
stabilizing ecosystems and regulating the populations of several species of prey.
10. Perspectives
Considering the positive results obtained in
2012, a year marked by the completion and
progress of the works of major transmission
projects and power generation, is even more
promising the scenario for Eletrosul in 2013.
For the first half of the year is expected to start
commercial generation of the Sao Domingos
Power Plant, in Mato Grosso do Sul, and Small
Hydroelectric in Barra do Rio Chapeu and in João
Borges, in Santa Catarina.
Also for next year the first turbines of the
hydroelectric plant Jirau, on the Madeira River
in Rondônia, will begin operations with 3,750
MW of installed capacity, increasing the energy
security of the country.
Still for the first half of 2013, it is expected
that the Livramento Wind Complex in Rio
Grande do Sul, will be taking advantage ofthe
full potential of the winds in the region to
generate clean energy with an installed
capacity of 79 MW. For this period, it is
estimated to begin construction of the
Geribatu and Chui Wind Complex and
that along with the Wind Complex Cerro
Chato in expansion will reaffirm the strong
presence of Eletrosul in the renewable
energy market.
Also focusing on sustainability and
implementation of alternatives to diversify
the Brazilian energy matrix, the expectation
revolves around the implementation of the
Megawatt Solar Project, the first solar plant in
large scale public building, which may be in full
operation during the first half of the year.
From the announcement of the Provisional
Measure 579, throughout 2013, Eletrosul, as
well as other concessionaires in the industry,
will have to adapt to this new reality, adjust to
the reduction of their income, without leaving
aside investments in projects that are being
implemented and are of utmost importance for
the energy security of our country.
Between 2013 and 2016, Eletrosul should
invest close to BRL 2 billion in own projects
and partnerships. More than BRL 1.5 billion
in generation and BRL 572 million in
transmission, contributing to the expansion and
dependability of the Brazilian energy sector.
Through this incessant and innovative work,
Eletrosul will continue to play a key role into the
Brazilian electricity sector and also for the whole
society. After all, for us, promoting sustainable
development is part of our business.
Annual And Sustainability Report Eletrosul 2012 |
173
Pantanal - Mato Grosso do Sul
11. Acknowledgment
Jabiru is a wading bird. The body plumage is white and the legs are black. Neck is black
with a red chat. May reach up to 1.4 meters long, 1.60 tall and weigh 8 quilos. Its wingspan
(measured from a wing tip to the other) can reach almost 3 meters! The grown beak can be
30 centimeters, is black and very strong. The female is generally smaller than the male.
11. Acknowledgment
In the face of the achievements made in 2012,
the Directors of the company give a special
acknowledgement to all employees, whose
dedication was instrumental in consolidating
Eletrosul as a generator and transmitter
in energy and becoming the industry’s
benchmark. We also thank the shareholders
for their trust in the company. For the support,
customers, suppliers and society, we record
our gratitude. The successful path that has
been trodden by Eletrosul is due to the joint
efforts and belief in the importance of this
work for the growth and development of the
country. Thus, we count on the continuation
of this partnership, in order to make Eletrosul
increasingly more just, ethical and sustainable.
Headquarters
Annual And Sustainability Report Eletrosul 2012 |
177
Victoria amazonica - Rondônia
12. Financial Statements
and Notes
Summary
Report By Independent Auditors
Fiscal Council Assessment
Properties Balance
Results Evidence
Comprehensive Results Evidence
Statement of Changes In Net Worth
Statement of Cash Flows
Statement of Added Value
Explanatory Notes to the Financial Statements
180
183
185
186
187
188
190
193
195
* Information not audited by independent auditors
Victoria amazonica is a genus of water-lilies, a plant whose flowers can be white, lilac, purple,
pink or yellow. Expels a fragrance called by Europeans night of “pink lake”, remaining open
until about 9 am the next day. Once the flowers open, their strong odor attracts pollinators that
land on it and become prisoners.
Report By Independent Auditors
Independent auditors’ report on the financial statements
To Management and Shareholders
Eletrosul Central Electric S/A
We have audited the individual financial statements of Eletrosul Central Electric S/A (“Company”)
which comprise the balance sheet of December 31, 2012 and the related statements of income,
comprehensive income, changes in equity and cash flows for the year ended at that date,
and the related consolidated statements of Eletrosul Central Electric S/A and its subsidiaries
(“Consolidated”) which comprise the consolidated balance sheet at December 31, 2012 and the
related consolidated statements of income, comprehensive income, changes in shareholders’
profit and cash flows for the year then ended, as well as the outcome of the main accounting
policies and other explanatory notes.
Management’s responsibility for the financial statements
The Company’s management is responsible for the preparation and fair presentation of these
financial statements in accordance with accounting practices adopted in Brazil and for the internal
control as management determines is necessary to enable the preparation of financial statements
free from material misstatement, whether due to fraud or error.
Independent auditor’s Responsibility
Our responsibility is to express an opinion on these financial statements based on our audit,
conducted in accordance with Brazilian and International Standards on Auditing. Those standards
require that the auditor comply with ethical requirements and that the audit be planned and
performed in order to obtain reasonable assurance about whether the financial statements are
free of wrongful material.
An audit involves performing procedures to obtain audit evidence about the amounts and
disclosures in the financial statements. The procedures selected depend on the auditor’s
judgment, including the assessment of risks of wrongful material on the financial statements,
whether due to fraud or error.
In this risk assessment, the auditor considers internal control relevant to the preparation and fair
presentation of the financial statements in order to design audit procedures that are appropriate
in the circumstances, but not to express an opinion on the effectiveness of internal controls of the
Company. An audit also includes evaluating the appropriateness of the accounting policies used
and the reasonableness of the accounting estimates made by management, as well as evaluating
the overall presentation of the financial statements taken as a whole.
We believe that the audit evidence obtained is sufficient and appropriate to base our opinion.
180
| Annual And Sustainability Report Eletrosul 2012
13. Financial Statements and Notes
Opinion
In our opinion, the financial statements referred to above present fairly, in all relevant respects,
the financial position of Eletrosul Central Electric S/A and Eletrosul Central Electric S/A and its
subsidiaries (Consolidated) on December 31, 2012, the performance of its operations and its cash
flows and the consolidated results of its operations and its cash flows for the year then ended in
accordance with accounting practices adopted in Brazil.
Emphasis
As described in Note 1 d on September 11, 2012, the Federal Government issued Provisional Measure
579, which deals with extensions of concessions generation, distribution and transmission of
electricity, and on reducing the burden on sectorial taxes. This interim measure was converted on
January 11, 2013 to Law. 12.783/2013 and became regulated by the Decree 7.891/2013 on January 23,
2013. The new rates and the amount of compensation was disclosed by the Ordinance n. 579 of the
Ministry of Mines and Energy and the Interministerial Ordinance n. 580 of the Ministry of Mines
and Energy and the Department of Treasury, published on an extraordinary issue of the Official
Gazette of November 1, 2012.
The Company accepted the conditions of early renewal of concessions forecasted on the Provisional
Measure 579 (Law 12.783/13), signing on December 4, 2012 the extension of concessions contracts affected,
passing all assets associated with the contract for the Union, under the Company’s management.
The Decree. 7.891/2013 in article 15, § 2, authorizes the grantor to pay, in the form of regulation for
utilities that opt for extension of concessions of electricity transmission achieved by § 5 of article 17
of Law n. 9074, 1995, the value related to assets considered not impaired available in May 31 of 2000,
registered by the dealership and recognized by ANEEL. Additionally, the Decree 7850/2013 in its Article
2 stipulates that until December 31, 2013 additional information must be submitted to ANEEL by
running the basic design for the calculation of investments not amortized until December 31, 2012.
The values of the transmission and generation assets covered this situation corresponds to
BRL 514,924 and BRL 519,413, respectively, at December 31, 2012 and 2011 and were determined
by management based on their best estimates and interpretation of the legislation above, as
described in Note 1 d and may change until the final approval of the same.
Other issues
Supplementary Information - Statement of value added
We have also audited the individual and consolidated statements of value added (DVA) for the
year ended on December 31, 2012, which presentation is being made voluntarily by the Company.
Annual And Sustainability Report Eletrosul 2012 |
181
These statements were submitted to the same audit procedures described above and,
in our opinion, are fairly stated, in all relevant respects, in relation to the financial
statements taken as a whole.
182
| Annual And Sustainability Report Eletrosul 2012
13. Financial Statements and Notes
Fiscal Council Assessment
FISCAL COUNCIL ASSESSMENT
The members of the Fiscal Council of Eletrosul Centrais Elétricas S/A, the
undersigned, having examined the Administrative Annual Report and the
Financial Statements raised on December 31, 2012, comprising the Balance
Sheet, Statement of Income, Statement of Changes in Net Worth , Statement
of Added Value, Statement of Cash Flows and related Notes, together with
the opinion issued on March 21, 2013, without qualification, by the auditing
firm PricewaterhouseCoopers, and the proposed allocation of net income, as
follows: BRL 3,292 thousand to the legal reserve; £ 15,635,000 for payment to
shareholders as minimum dividends for the year 2012 and U.S. $ 46,906.00
as proposed additional dividends; understand that the statements fairly
present the equity and financial position of Eletrosul Centrais Elétricas S/A,
on that date, and that the proposed allocation of net income is in line with
the law and the bylaws of the Company, being able to be submitted, along
with the Annual Report of Directors, for approval of the Shareholders at the
next Ordinary General Meeting.
Florianópolis, March 22nd, 2013.
Annual And Sustainability Report Eletrosul 2012 |
183
Balance Sheet
On December 31st 2012 and December 31st 2011
(in thousands of BR-Reais)
ASSETS
Controlling Company
Note
2012
2011
Consolidated
2012
2011
CURRENT
Cash and cash equivalence
4
87,454
257,339
612,806
624,187
Clients
6
141,835
107,185
169,037
127,475
Financial asset –
concession of public service
7
16,434
118,851
57,232
152,543
Indemnification credit –
Law 12.783/13
8
1,404,632
–
1,404,632
–
9
140,068
127,639
140,068
127,639
Dividends to receive
10
23,052
10,493
–
–
Tributes to recover
12
29,582
30,983
51,593
42,509
32,318
30,767
32,318
30,767
Warehouse
Escrow and equity-linked deposits
5
55,352
2,019
57,985
27,311
Other assets
14
69,410
75,031
114,058
76,720
2,000,137
760,307
2,639,729
1,209,151
NON-CURRENT
Long-term Realizable Asset
Indemnification credit –
Law 12.783/13
8
620,651
–
620,651
–
Credits for renegotiated energy –
Law 8.727/93
9
438,586
479,752
438,586
479,752
Tributes to recover
12
41,435
62,463
153,752
131,960
Net deferred fiscal asset
15
319,214
–
322,302
–
Escrow and equity-linked deposits
5
45,718
29,514
61,675
45,911
Advance for capital increase
13
31,898
367,527
–
–
Financial asset –
concession of public service
7
969,776
2,400,742
2,672,826
3,618,110
Other assets
14
41,014
16,819
59,549
21,253
2,508,292
3,356,817
4,329,341
4,296,986
Investiments
16
2,547,215
1,348,816
3,277
3,281
Fixed Assets
17
2,012,129
1,538,955
5,464,638
3,735,612
Intangible
18
83,274
79,795
230,848
228,760
7,150,910
6,324,383
10,028,104
8,264,639
9,151,047
7,084,690
12,667,833
9,473,790
TOTAL ASSET
The explanatory notes are an integral part of the financial statements.
184
| Annual And Sustainability Report Eletrosul 2012
13. Financial Statements and Notes
Balance Sheet
On December 31st 2012 and December 31st 2011
(in thousands of BR-Reais)
LIABILITY AND NET EQUITY
Controlling Company
Note
Consolidated
2012
2011
2012
2011
CURRENT
Financing and Loans
21
180,526
149,408
479,567
265,903
Suppliers
20
70,540
109,546
210,590
325,022
36,775
52,049
37,670
52,686
45,329
46,324
63,770
61,303
Payroll
Tributes to recover
22
Dividends Payable
45
15,636
24,552
16,272
24,552
Estimated bonds
23
64,942
63,388
247,360
65,574
Benefit post-employment
30
13,158
13,534
13,158
13,534
Research and Development
26
26,331
29,477
29,557
31,887
Provision for onerous contracts
24
28,673
7,215
28,673
7,215
Other Liability
28
168,781
41,899
213,711
56,779
650,691
537,392
1,340,328
904,455
NON-CURRENT
Financing and Loans
21
1,852,407
1,692,082
4,566,505
3,639,933
Taxes payable
22
109,762
136,476
109,762
136,476
Net deferred fiscal liability
15
–
118,001
–
112,972
Provision for risks
25
120,366
52,235
170,068
52,545
Benefit post-employment
30
239,011
71,574
239,011
71,574
Advance for capital increase
13
554,930
1,810,793
554,930
1,833,233
Provision for onerous contracts
24
930,327
–
930,327
–
Concession payable Use of public asset
27
26,507
21,200
68,867
58,416
Other Liability
28
NET EQUITY
7,269
13,659
14,797
19,136
3,840,579
3,916,020
6,654,267
5,924,285
31
Capital stock
3,740,410
1,577,686
3,740,410
1,577,686
Profits reserve
1,059,172
1,055,880
1,059,172
1,055,880
Adjustments of Evaluation sheet
(186,711)
(75,940)
(186,711)
(75,940)
Aditional proposed dividend
Non-Controlling interest
TOTAL LIABILITY AND NET EQUITY
46,906
73,652
46,906
73,652
4,659,777
2,631,278
4,659,777
2,631,278
–
–
13,461
13,772
9,151,047
7,084,690
12,667,833
9,473,790
The explanatory notes are an integral part of the financial statements.
Annual And Sustainability Report Eletrosul 2012 |
185
Result Statements
Financial years ended on December 31st 2012 and 2011
(in thousands of BR-Reais)
Note
NET OPERATIONAL INCOME
Controlling Company
2012
2011
38
1,151,122
Consolidated
2012
2011
844,917
1,824,859
1,360,393
OPERATING COST
Cost with Electric Power
Purchased power for resale
Provision (reverse)
loss onerous contract
Operating Cost
Staff, material and outsourced
services
(159,526)
(124,603)
(110,583)
(166,247)
(159,532)
(124,603)
24
(6,715)
14,020
(6,715)
14,020
41
(255,117)
(219,650)
(285,432)
(223,125)
(224,953)
(213,270)
(230,702)
(214,343)
–
(33,994)
41
(166,241)
Depreciation and amortization
(12,245)
Provision for doubtful debt
(9,477)
(2,247)
(12,886)
41
(2,511)
(7,285)
(15,775)
(9,831)
(9,405)
(10,312)
(16,183)
(10,312)
41
(82,730)
(92,201)
(557,410)
(514,193)
41
(281,391)
(216,995)
(302,419)
(234,239)
4,444
Other
Cunstructon Cost
637,629
GROSS OPERATING PROFIT
Operating Expenses
356,238
SERVICE RESULT
Other income and Operating Expenses
412,171
195,176
33,675
4,444
799,587
497,168
–
3,560
502,180
267,941
39
Recoverable value of assets
(Impairment)
43
(163,703)
(122,246)
(227,751)
(144,696)
19
(149,672)
(41,587)
(149,672)
(41,587)
24
(896,494)
Onerous Contracts
49,700
3,152
Equity income
Financial Result
–
(14,084)
50,641
–
(896,494)
(14,339)
50,649
(818,015)
115,659
(791,088)
132,307
577,802
–
577,802
–
(240,213)
115,659
(213,286)
132,307
306,046
(12,287)
281,797
68,511
104,630
65,833
103,372
65,833
103,372
Number of common stock
90,261,115
48,906,141
90,261,115
48,906,141
Weighted-average common shares
52,871,686
48,906,141
52,871,686
48,906,141
Other Net Income/Expense
44
OPERATING PROFIT BEFORE LAW
12.783/13
Indemnities Law 12.783/13
1d, 8
OPERATING PROFIT AFTER LAW
12.783/13
Income tax and social contribuition
45
65,833
NET INCOME
Attributable to:
Controlling shareholders
Non-Controlling shareholders
Basic profit per common share
Diluted earnings per common share
–
The explanatory notes are an integral part of the financial statements.
186
–
(9,405)
(-) Expense Recovery
Cost of services rendered to third
parties
(110,583)
| Annual And Sustainability Report Eletrosul 2012
0.73
1.25
103,372
–
2.11
2.11
2,678
0.73
1.25
–
(27,677)
1,258
2.11
2.11
13. Financial Statements and Notes
Comprehensive Statements of Result
Financial years ended on December 31st 2012 and 2011
(in thousands of BR-Reais)
Controlling Company
NET INCOME
Adjustments of cash flow hedges
Adjustments of actuarial gains (losses)
Deferred income tax and social contribuition
COMPREHENSIVE INCOME
Consolidated
2012
2011
2012
2011
65,833
103,372
68,511
104,630
12,701
2,310
12,701
2,310
(178,246)
(33,746)
(178,246)
(33,746)
54,774
5,501
54,774
5,501
(44,938)
77,437
(42,260)
78,695
The explanatory notes are an integral part of the financial statements.
Annual And Sustainability Report Eletrosul 2012 |
187
188
–
–
–
Adjustments of cash flow hedges
Approved dividend AGO
Net income
| Annual And Sustainability Report Eletrosul 2012
–
Proposed additional dividends
BALANCE ON 31/12/2011
Non-controlling interests
–
Minimal compulsory dividend
(BRL 0,50 per stock)
–
1,055,880
–
–
5,169
–
–
–
–
1,050,711
1,577,686 1,055,880
–
1,577,686
–
Statutory reserve
Application for AGO
–
1,577,686
Reserve
Capital
Adjustments of actuarial gains (losses)
Comprehensive income
BALANCE ON 31/12/2010
Profits
Social
dividends
sheet
(75,940)
73,652
–
73,652
(75,940)
–
73,652
–
–
–
(57,991)
–
–
–
–
–
–
–
2,631
(28,566)
57,991
additional
of Evaluation
(50,005)
Proposed
Adjustments
–
–
–
(73,652)
(24,551)
(5,169)
103,372
–
–
–
Earnings
Retained
2,631,278
–
2,631,278
–
(24,551)
–
103,372
(57,991)
2,631
(28,566)
2,636,383
Partners
Company
Controlling
Net Equity of
13,772
13,803
(31)
–
–
–
–
–
–
–
(31)
controlling
of non-
Participation
2,645,050
13,803
2,631,247
–
(24,551)
–
103,372
(57,991)
2,631
(28,566)
2,636,352
Consolidated
Net Equity
Statement of Changes in New Worth
Financial years ended on December 31st 2012 and 2011
(in thousands of BR-Reais)
Continues...
–
–
Minimal compulsory dividend
(BRL 0,17 per stock)
Proposed additional dividends
–
3,740,410
Non-controlling interests
BALANCE ON 31/12/2012
3,740,410
–
Statutory reserve
Application for AGO
–
Net income
2,162,724
Incorporação do AFAC ao capital
–
–
Adjustments of cash flow hedges
Approved dividend AGO
–
Adjustments of actuarial gains
(losses)
Comprehensive income
1,059,172
(186,711)
–
(186,711)
1,059,172
–
–
–
–
–
–
–
8,304
(119,075)
–
–
3,292
–
–
–
–
–
46,906
–
46,906
46,906
–
–
–
(73,652)
–
–
–
–
–
–
(46,906)
(15,635)
(3,292)
65,833
–
–
–
–
4,659,777
–
4,659,777
–
(15,635)
–
65,833
(73,652)
2,162,724
8,304
(119,075)
13,461
(311)
13,772
–
–
–
–
–
–
–
–
4,673,238
(311)
4,673,549
–
(15,635)
–
65,833
(73,652)
2,162,724
8,304
(119,075)
13. Financial Statements and Notes
...continuation
The explanatory notes are an integral part of the financial statements.
Annual And Sustainability Report Eletrosul 2012 |
189
Cash Flow Statements
December 31st 2012 and 2011
(in thousands of BR-Reais)
Controlling Company
2012
2011
Consolidated
2012
2011
OPERATING ACTIVITIES
Income before income tax and social contribuition
(240,213)
115,659
(213,286)
132,307
(423,875)
(320,932)
(566,199)
(396,684)
534,939
422,587
659,155
323,520
Depreciation and amortization
14,340
2,542
36,172
2,557
Premium Equities Amortization
8,937
22,336
9,037
22,336
Monetary Variation
(9,009)
14,360
(5,727)
14,360
Financial Charges Generated
252,082
165,928
439,250
284,577
Equity Results of Accounting
(49,700)
(33,675)
–
–
(631)
5,085
(631)
5,085
149,672
41,587
149,672
41,587
(577,802)
–
(577,802)
–
Loss of permanent asset
5,147
328
5,981
328
Contingency provisionss
67,227
(4,718)
67,227
(4,718)
Allowance for possible loan losses
9,477
2,247
9,405
2,511
Comp. Aposent. Especial/Actuarial liability
1,053
14,321
1,053
14,321
903,209
(14,020)
903,209
(14,020)
–
(74,166)
–
(74,166)
Actuarial liability (CVM 695)
(4,213)
(18,510)
(4,213)
(18,510)
Other
13,775
16,590
15,661
(1,445)
894,628
241,890
1,141,250
201,639
Expenses (revenues) with no effect on cash
Financial Asset Earning
Financial Asset Amortization
Adjustment of present tributs value
Reduction of Recoverable value of assets
(Impairment)
Indemnities Law 12.783/13
Provision for loss with onerous contract
Gain on valuation of the percentage held
previously
Continues...
190
| Annual And Sustainability Report Eletrosul 2012
13. Financial Statements and Notes
...continuation
(Increase) decrease operational assets
Clients
(44,907)
(18,287)
(51,756)
(30,728)
Credits of renegotiated energy received
144,211
178,512
144,211
178,512
Tributes to recover
82,044
(37,445)
28,739
(52,415)
(260,043)
16,087
(263,328)
9,071
185
581
185
581
Escrow, funds and equity linked
(69,538)
21,422
(46,442)
28,539
Other credits
(15,320)
(10,656)
(47,533)
(17,869)
(163,368)
150,214
(235,924)
115,691
(39,006)
(6,045)
(135,163)
144,285
Payroll
(15,274)
12,448
(15,031)
12,646
Tributes to recover
285,222
(24,252)
275,610
(14,125)
(118,001)
(35,302)
(112,775)
(33,572)
(30,218)
(94,470)
150,014
(94,292)
5,180
28,399
5,180
28,399
(3,146)
5,463
(2,330)
7,205
118,306
35,384
203,014
43,986
203,063
(78,375)
368,519
94,532
Cash provided by operational activities
694,110
429,388
1,060,559
544,169
Payment of financial charges
(138,587)
(117,801)
(188,129)
(134,284)
175
49
175
49
(57,424)
(33,075)
(70,485)
(34,879)
8,920
(6,976)
8,920
(6,976)
507,194
271,585
811,040
368,079
Deferred fiscal asset
Warehouse
Increase (derease) on operational liabilities
Suppliers
Deferred fiscal liability
Estimated bonds
Entity of complementary welfare
Estimated bondsResearch and Development
Other Liability
Receipt of financial charges
Income tax and social contribuition payed
Judicial deposits
Net cash of operational activities
Annual And Sustainability Report Eletrosul 2012 |
191
Cash Flow Statements
December 31st 2012 and 2011
(in thousands of BR-Reais)
Controlling Company
Consolidated
2012
2011
2012
2011
Financial asset
(82,730)
(92,201)
In fixed asset
(515,362)
(501,425)
(1,820)
(81,062)
(1,904)
(80,208)
(842,595)
(662,399)
–
26,284
18,791
24,093
–
–
36
27
36
60
(1,423,680)
(1,312,967)
(2,352,282)
(2,164,797)
Loans and financing obtained
241,427
365,368
1,173,271
1,290,708
Advance for future capital increase (AFAC)
728,630
972,279
706,130
990,009
Payment of loans and principal financing
(102,754)
(73,165)
(226,713)
(117,276)
Payment of remuneration to stockholders
(106,501)
(86,293)
(108,626)
(86,293)
(14,201)
(15,028)
(14,201)
(15,028)
746,601
1,163,161
1,529,861
2,062,120
(169,885)
121,779
(11,381)
265,402
Cash and equivalent of cash in the beginning of
period
257,339
135,560
624,187
358,785
Cash and equivalent of cash in the end of period
87,454
257,339
612,806
624,187
INVESTIMENT ACTIVITY
In intanglible asset
In corporate participation
Remuneration receipt of corporate investiment
Other investiments
Net cash of investiments activities
(557,410)
(1,793,004)
(514,193)
(1,596,740)
ATIVIDADES DE FINANCIAMENTO
Payment debt complementary welfare
Total of financing activities
Variation
High on cash and equivalent of cash
The explanatory notes are an integral part of the financial statements.
192
| Annual And Sustainability Report Eletrosul 2012
159,526
Cost building the generation line
Electric power purchased for resale
180,821
65,471
259,336
Other financial income
588,597
115,472
Income over energy credits renegotiated
(=) Total added value to distribute
4,158
28,693
834,553
113,226
29,762
49,700
33,675
653,732
2,542
656,274
Financial application income
329,261
14,340
343,601
24,544
823,038
52,610
–
(16,450)
(14,020)
41,587
2,515
124,603
489,194
92,201
69,109
9,755
1,479,312
1,953,827
896,494
46,324
6,715
149,672
2011
01 - ADDED VALUE
%
Controlling Company
Equity income
(+)Added value received by transfer
(=) Net added value
( - ) Depreciation and amortization
(=) Gross added value
Other
Provision (reversion) on onerous contract for
purchasing energy
Provision (reversion) for contingency
Provision (reversion) losses on
commercialization
Recoverable value of assets (Impairment)
2,736
467,083
Cost building the transmission line
Insurance
79,613
82,730
Third-party service
10,324
2,297,428
Materials
( - ) Input acquired from third-party
Transmission, generation and services income
Income
2012
%
902,981
225,843
69,300
115,472
41,071
–
677,138
36,172
713,310
3,092,420
57,165
896,494
46,324
6,715
149,672
2,949
159,532
467,083
557,410
737,855
11,221
3,805,730
2012
993,466
162,929
5,853
113,226
43,850
–
830,537
2,557
833,094
1,836,377
26,765
–
(16,450)
(14,020)
41,587
2,853
124,603
489,194
514,193
657,511
10,141
2,669,471
2011
Consolidated
%
%
13. Financial Statements and Notes
Added Value Statement
December 31st 2012 and 2011
(in thousands of BR-Reais)
Continues...
Annual And Sustainability Report Eletrosul 2012 |
193
194
The explanatory notes are an integral part of the financial statements.
| Annual And Sustainability Report Eletrosul 2012
0.50
2,931
Added value distributed
Retained earnings
100.00
11.18
588,597
0.56
3,292
7.96
65,833
46,906
Proposed additional dividends
2.66
63.93
376,270
15,635
40.51
238,413
Minimal compulsory dividend
Stockholders
Others financial expenses
Rent
6.09
35,835
Monetary variation
15.87
93,415
Charges of debts
0.96
5,676
Charges overs tributes
Funders
(21.48)
(126,460)
(13.67)
(38.33)
(80,445)
7.74
(225,601)
45,546
Social charges
6.21
16.57
Social Contribuition
36,533
Income Tax
97,507
Tributes (PIS/PASEP,COFINS, ISS)
Regulatory charges
Government
0.18
46.37
1,053
272,954
Special retirement/Actuarial liability
3.51
20,653
Contingency/Workers Compensation
42.68
251,248
Remuneration/Benefits/FGTS
Staff
%
2011
Controlling Company
834,553
103,372
5,169
73,652
24,551
271,812
146,703
2,420
37,915
77,395
7,379
161,045
8,488
3,799
44,552
36,091
68,115
298,324
14,321
11,732
272,271
%
100.00
12.39
0.62
8.83
2.94
32.56
17.58
0.29
4.54
9.27
0.88
19.30
1.02
0.46
5.34
4.32
8.16
35.75
1.72
1.41
32.62
02 - ADDED VALUE DISTRIBUTION
2012
902,981
68,511
5,970
46,906
15,635
574,862
359,693
4,411
41,244
163,774
5,740
(25,343)
(208,032)
(73,765)
47,995
42,347
166,112
284,951
1,053
20,653
263,245
2012
100.00
7.58
0.66
5.19
1.73
63.67
39.83
0.49
4.57
18.14
0.64
(2.81)
(23.04)
(8.17)
5.32
4.69
18.39
31.56
0.12
2.29
29.15
993,466
104,630
6,427
73,652
24,551
389,391
150,667
3,311
40,349
187,650
7,414
193,213
19,641
8,037
45,181
39,242
81,112
306,232
14,321
11,732
280,179
2011
Consolidated
%
100.00
10.53
0.65
7.41
2.47
39.20
15.17
0.33
4.06
18.89
0.75
19.45
1.98
0.81
4.55
3.95
8.16
30.82
1.44
1.18
28.20
%
...continuation
13. Financial Statements and Notes
Explanatory notes to financial statements
(Controlling Company and Consolidated)
Financial years ended on December 31, 2012
(in thousands of BR-Reais, except when otherwise stated)
NOTE 1 – GENERAL INFORMATION
a) The Company
Eletrosul Centrais Elétricas S/A (“Eletrosul”,
“Company” or “Controlling Company”), is a
mixed capital federal company, closed capital,
controlled by Centrais Elétricas Brasileiras
S/A (Eletrobras) and is headquartered at
Mr. Edu Antonio Vieira Street, 999, Pantanal
Neighborhood, Zip Code 88040-901,
Florianopolis, State of Santa Catarina.
It was established on December 23, 1968
and its main activities are the generation
and transmission of electric energy through
its own investments and its controlled
companies, being present in the states of
Santa Catarina, Paraná, Rio Grande do Sul,
Mato Grosso do Sul, Mato Grosso, Pará
and Rondônia.
Eletrosul’s electric energy transmission
system has 10,382.1 km of transmission lines
and power transformation 23,087.0 MVA in
39 substations and a frequency converter
on the border of Brazil and Argentina. In
addition to its own facilities, the Company
provides services or equipment operation and
/ or maintenance in over 31 substations and
systems integration with Uruguay (Rivera)
and Argentina (Garabi).
The park generator itself consists of three
(3) hydroelectric plants and two (2) PCH. In
addition to the transmission system and its
own, generation park the Company takes part
in other companies, for implementation and
operation of systems composed of 4,448.3
km of transmission line, 11 substations with
transformation capacity of 3,064 MVA, 1
collector substation with transmission capacity
of 800 MW, two hydroelectric plants with an
installed capacity of 5,570 MW and 24 wind
parks with installed capacity of 570.0 MW
b) Commercial operation of generation
and transmission enterprises
Passo São João Hydroelectric Plant
Passo São João Power Plant began commercial
operations on March 24, 2012 with the first
generating unit and July 6, 2012 with his
second generating unit. The plant is located in
the state of Rio Grande do Sul, has an installed
power of 77 MW and 39 MW of assured energy.
Maua Hydroelectric Plant
The Maua Hydroelectric Plant began
commercial operations on November 22, 2012
with the first generating unit on 14 and 22
December 2012, with the third generating unit
with a total of 5 units. The plant is located in
Rio Tibaji in the state of Paraná in consortium
with Copel. Eletrosul holds 49% of the project,
which has a total installed capacity of 363 MW
and 197.7 MW of assured energy.
Barra do Rio Chapeu Small Hydroelectric Plant
The PCH Barra do Rio Chapeu began operations
in the testing phase on 19 December 2012.
The PCH is located in the southern state of
Santa Catarina and has an installed capacity
of 15.1 MW and 8.6 MW of assured energy.
Porto Velho Transmitter of Energy S/A
The Porto Velho collector substation since
August 28, 2012 is in full commercial operation.
The collector substation with transmission
capacity of 800 MVA is located in Porto Velho,
state o Rondonia.
c) New Corporate Holdings
South Coastal Transmitter of Energy S/A
Established in July 2012 with equity
participation of 51% by Eletrosul and 49% by
CEEE, is intended solely to the construction,
operation and maintenance of 525 kV
Transmission Line Nova Santa Rita - Povo
Novo - Marmeleiro - Santa Vitória do Palmar
Annual And Sustainability Report Eletrosul 2012 |
195
in simple circuits; SE 525/230 kV 672 MVA Povo
Novo; 525 kV SE Marmeleiro, SE 525/138 kV
Santa Vitória do Palmar 75 MVA and 230 kV
Section of Camaqua 3 - Quinta in SE Povo Novo
in double circuit, all located in the state of Rio
Grande do Sul
Teles Pires Investments S/A
On December 5, 2012, was effected the transfer
of shares corresponding to 24.50% Eletrosul
owned in the Company Teles Pires for the
Teles Pires Investments S/A (TPP), which has
as corporate purpose the participation in
Teles Pires Hydroelectric Company , which
owns the Teles Pires plant. With the transfer
of the shares of the shareholder, Eletrosul and
Furnas shareholders, the shareholding of the
TPP became the following: Neonergia, 50.56%,
Eletrosul, 24.72% and 24.72% Furnas. Thus, the
participation in the TPP Teles Pires Company
increased to 99.10%, remaining Odebrecht with
0.90% of the share capital.
d) Extension of Grants for Public Service
of Electric Energy – Law 12.783/13
On September 11, 2012, the Federal Government
issued Provisional Measure No. 579, on
the extensions concessions generation,
distribution and transmission of electricity,
and the reduction of charges targeting sectoral
reasonable tariffs. This interim measure was
converted into January 11, 2013 in Law
No. 12.783/2013 and became regulated by
Decree 7.891/2013 of January 23, 2013.
The measures adopted by the Federal
Government also aim to benefit consumers’
electric energy through tariff reduction of
three components: generation cost,
transmission cost and sector charges.
Through the aforementioned Act, the
Government sought to end discussions if the
concessions of electricity, treated in articles
17, § 5, 19 and 22 of Law No. 9074 of July 7, 1995,
with maturities to take place as of 2015, could
be extended for up to 20 more years, according
to conditions set forth in the Law and the
respective Concession Agreements, or if these
would be tendered.
196
| Annual And Sustainability Report Eletrosul 2012
Therefore, the Law n º 12.783/2013, when
dealing with extensions of concessions
distribution, transmission and generation of
electricity, achieved by the articles listed above,
imposed new conditions for the extension to
utilities, allowing the extension for a period
of up to 30 years with the anticipation of the
maturity of these concessions and signing
Additional Terms to the respective Concession
Agreements with the Granting Authority,
establishing new conditions.
The new rates and the amount of
compensation was disclosed by the Ordinance
of the Ministry of Mines and Energy No.
579 and the Interministerial Ordinance of
the Ministry of Mines and Energy and the
Ministry of Finance No. 580, published in an
extraordinary edition of the Federal Official
Gazette on 1st November , 2012.
Impacts on transmission enterprises directly
affected by Law No. 12.783/13
Eletrosul accepted the conditions of early
renewal of concessions in the Provisional
Measure 579 (Law 12.783/13), signing on
December 4, 2012 the extension of the
concession contract No. 057/2001, passing all
assets related to the contract for the Union,
under the administration of the Company.
As allowed by Article 4 of Ordinance 580,
aforementioned, Eletrosul requested to receive
the compensation in accordance with the
following alternative: 50% in cash, to be paid
within 45 days of the date of signature of the
addendum to the concession contract and
50%in 31 monthly installments, to be paid until
the expiration of the concession agreement
in effect on the date of publication of the
Ordinance, the increased remuneration for
Weighted Average Cost of Capital (WACC) of
5.59% real per year from the date of first day
of the month of signing the addendum to the
concession contract.
The transmission concessionaires must
send ANEEL information relating to assets
acquired before May 31, 2000 (RBSE), not yet
13. Financial Statements and Notes
depreciated or amortized, necessary for the
calculation of supplementary compensation
within a period to be set by the granting
authority, according to § 8 of article 15 of
Law No. 12.783/2013, which when approved
will be paid in 30 years, updated in the form
of regulation.
expansion) occurred since December 31, 2012, as
long as formally approved, should be included
in future rates, and its remuneration criteria
yet to be determined.
The rate (new Allowed Annual Revenue - RAP)
will be calculated based on the cost of O &
M plus the rate of 10% (efficient company).
Additionally, in the future there may be
included portion of assets not yet amortized or
depreciated, provided that approved by ANEEL.
Information and Decisions of the Company
Regulatory charges (RGR) for the extended
concession contract were eliminated.
Eletrosul holds a single concession affected
by Law 12.783/13, the Concession Contract
No. 57/2001, consisting of 37 transmission
substations and 9,413 km of transmission
lines. The companies controlled by Eletrosul
do not have concession agreements affected
by the renovation.
The new investments (repowering and
Law effects 12.783/2013 e MP 591/2012
Property effects
Carrying
value
(net)
Impairment
DRE
Net
balance
Indemnity
Indemnity
superavit (Law
12.783/2013)
TRANSMISSION
Extended ventures
Indemnified Quota
Affected Contracts
057/2001 - Basic net - new
ventures (BNNV)
1,430,866
–
1,430,866
2,008,668
577,802
514,924
–
514,924
–
–
5,494
–
5,494
–
010/2005 - Basic project
390,904
–
390,904
–
004/2008 - Basic project
71,658
-27,117
44,541
–
005/2009 - Basic project
35,345
-4,998
30,347
–
–
2,449,191
-32,115
2,417,076
2,008,668
577,802
Undemnified Quota
Non-affected contracts
057/2001 - Basic net current services (BNCS)
Extendable Ventures (after 2017)
057/2001 - New
authorizations
Annual And Sustainability Report Eletrosul 2012 |
197
The original amount of the credits and the
determination of compensatory surplus
are as follows:
Indemnity value proposed
(=)
1,985,495
Update until date of
addendum subscription
(+)
23,173
Subtotal
(=)
2,008,668
Balance of finantial asset
reduced
(-)
1,430,866
Superavit indemnity
recognized on result:
(=)
577,802
of regulation for concessionaires who opt
of the extension of concessions electricity
transmission attained by § 5 of Art. 17 of Law
No. 9074 of 1995, the value relating to the
assets not considered impaired as at 31 May
2000, registered by the concessionaire and
recognized by ANEEL.
The values of the transmission assets covered
in this situation correspond to on December 31,
2012 the amount of BRL 514,924,000.00
(BRL 519,413,000.00 in 2011) and were
determined by the administration from
their best estimates and interpretation of
the legislation above, as described based on
estimates and assumptions of management
described in Note 3.4 and may change until
the final approval of the same.
The Company has not made a write-down of
the balance of the financial asset relating to the
existing assets at May 31, 2000 in the amount
of BRL 514,924,000.00, in order to forecast the
compensation contained in the law 12.783/13
considering the estimated amortization period
of 30 years would result in VNR higher than
book value.
As required by Decision no 155 of the National
Agency of Electric Energy (ANEEL), from
January 23, 2013, assets not covered with
compensation provided for in Annex II
of the Interministerial Ordinance No. 580
from November 1, 2012, referred to the nondepreciated assets existing at 31 May 2000,
should be kept in fixed assets until such
investments are subject to review and approval
by ANEEL, as from that moment shall be made
a receivable notice for the amount approved.
The Provisional Measure 579/2012 was
converted into Law No. 12.783/2013 on
January 11th, 2013 and regulated by Decree
No. 7.891/2013 in its article 15, § 2, authorizes
the granting authority to pay, in the form
Annual Revenue Allowed - ARA predicted for 2013 (affected and not affected)
Without
Law effects
12.783/2013
With Law effects
12.783/2013
Reduction
of ARA (in
thousands of
BRL)
Reduction % of
ARA
896,208
447,503
(448,705)
-50.1%
010/2005**
86,542
86,542
-
0.0%
004/2008**
5,605
5,605
-
0.0%
005/2009**
4,448
4,448
-
0.0%
992,803
544,098
(448,705)
-50.1%
Contracts
057/2001
Total of ARA
** Contracts not affected by Law 12.783/13.
198
| Annual And Sustainability Report Eletrosul 2012
13. Financial Statements and Notes
e) Tax Aspects of Law 12.783/2013
allocated by law to fund the reversion of
property in foreclosure and takeover of
concessions in the electricity sector, as well
as the amount of new tariffs arising from the
extension of the contract concession.
The Provisional Measure 579/2012, converted
into Law No. 12.783/2013, stipulated that
as determined by the Union, it could be
extended to the concession of public service
of electric energy transmission. With accepted
the conditions imposed by the granting
authority, the Company and the Union agreed
on in December 4, 2012, to extend the term
of the concession contract No. 57/2001, by
the definition about the payment to make
Eletrosul regarding the compensation of the
assets not amortized, this compensation
arising out of the resources of the Global
Reversion Reserve (RGR), these resources
The Company’s management, based on the
opinion of its internal and external counsel,
believes that the monetary resource arising
from the reversal of goods to the Union
have legal nature of compensation, given
the recovery of financial losses from this
concessionaire by expropriation, lacking the
incidence of PIS , COFINS, Income Tax and
Social Contribution on Net Income.
f) Controlled Companies
Participations in
SPE's
% of
participation
% of voting
capital
Artemis*
100.0%
100.0%
Florianópolis - SC
Energy transmission
Cerro Chato I
100.0%
100.0%
Florianópolis - SC
Energy generation
Cerro Chato II
100.0%
100.0%
Florianópolis - SC
Energy generation
Cerro Chato III
100.0%
100.0%
Florianópolis - SC
Energy generation
RS Energia
100.0%
100.0%
Florianópolis - SC
Energy transmission
Porto Velho
100.0%
100.0%
Florianópolis - SC
Energy transmission
75.0%
75.0%
Florianópolis - SC
Energy transmission
Head office location
Principal activity
Controlled
Uirapuru
Controlled with shared control
Chuí
49.0%
49.0%
Florianópolis - SC
Energy generation
Costa Oeste
49.0%
49.0%
Curitiba - PR
Energy transmission
ESBR Participações
20.0%
20.0%
Rio de Janeiro - RJ
Energy generation
Etau
27.4%
27.4%
Rio de Janeiro - RJ
Energy transmission
Integração
24.5%
24.5%
Rio de Janeiro - RJ
Construction
Livramento
49.0%
49.0%
Florianópolis - SC
Energy generation
Marumbi
20.0%
20.0%
Curitiba - PR
Energy transmission
Norte Brasil
24.5%
24.5%
Rio de Janeiro - RJ
Energy transmission
Santa Vitória do
Palmar
49.0%
49.0%
Florianópolis - SC
Energy generation
TSBE**
80.0%
80.0%
Curitiba - PR
Energy transmission
TSLE**
51.0%
51.0%
Florianópolis - SC
Energy transmission
Teles Pires
Participações
24.7%
24.7%
Rio de Janeiro - RJ
Energy generation
* Merged in 11/01/2013.
** Control shared among stockholders.
Annual And Sustainability Report Eletrosul 2012 |
199
NOTE 2 – Concessions
2.1 Concessions and own Authorizations
a) Transmission
The Company has a concession for construction
and operation of substations and transmission
lines, discriminated below:
Transmission lines/Subestações
Concession
date
Expiration of
concession
Concession contract nº 057/2001-ANEEL
37 substations of transmission lines, 1 frequency converter and
9.413 km of transmission lines in 525 kV, 230 kV and 138 kV
04/12/2012
31/12/2042
Concession contract nº 004/2004-ANEEL
Transmission lines 525 kV Salto Santiago (PR) – Ivaiporã (PR)
167 km and Ivaiporã (PR) – Cascavel D´Oeste (PR) 209 km
18/02/2004
17/02/2034
Concession contract nº 010/2005-ANEEL
Transmission line 525 Kv Campos Novos - Blumenau with 360
km extended and 1 transmission line substation
04/03/2005
03/03/2035
Concession contract nº 004/2008-ANEEL
Transmission line 230 kV Presidente Médice - Santa Cruz with
233 km extended
17/03/2008
16/03/2038
Concession contract nº 005/2009-ANEEL
Substation Missões in 230/69 kV (150 MVA)
28/01/2009
27/01/2039
b) Generation
The Company has a concession / authorization
for construction and operation of hydroelectric
Comercial
operation
power plants (HPP) and Small Hydropower
Plants (SHP), discriminated below. (See note 16):
River
Hidroelectric plant (UHE)
Installed
power
Concession/
Permission
Expiration of
concession
(Unaudited)
UHE Passo São João
2012
Rio Ijuí (RS)
77.0 MW
15/08/2006
14/08/2041
UHE Mauá - equivalente
a 49% - consórcio
2012
Rio Tibaji (PR)
177.9 MW
03/07/2007
02/07/2042
UHE São Domingos
2013
Rio Verde
(MS)
48.0 MW
11/12/2002
10/12/2037
Small hidroeletric companies (PCH)
PCH Barra do
Rio Chapéu
2013
Rio Braço do
Norte (SC)
15.1 MW
05/05/2004
04/05/2034
PCH João Borges
2013
Rio Caveiras
(SC)
19.0 MW
21/12/2005
20/12/2035
PCH Santo Cristo
2014
Rio Pelotinhas
(SC)
19.5 MW
26/11/2007
25/11/2037
PCH Coxilha Rica
2014
Rio Pelotinhas
(SC)
18.0 MW
01/03/2007
28/02/2037
Total
200
| Annual And Sustainability Report Eletrosul 2012
374.5 MW
13. Financial Statements and Notes
When all its own projects and partnerships
come into operation, the Company will have
an installed capacity in the generation of
1,895.6 MW.
2.2 Concessions and permits of the
controlled companies jointly
a) Transmission Lines:
SPE's
Partic.
Transmission line
Concession
date
Expiration of
concession
Etau
27.40%
LT 230 kV Campos Novos (SC) –
Barra Grande (SC) – Lagoa Vermelha
(RS) – Santa Marta (RS)
187
18/12/2002
17/12/2032
Uirapuru
75.00%
LT 525 kV Ivaiporã (PR) –
Londrina (PR)
120
04/03/2005
03/03/2035
LT 525 kV Campos Novos (SC) –
Nova Santa Rita (RS)
260
27/04/2006
26/04/2036
33
06/10/2010
05/10/2040
2.375
26/02/2009
25/02/2039
RS Energia
100.00%
LT 230 kv Monte Claro –
Garibaldi (RS)*
Norte Brasil*
24.50%
LT Coletora Porto Velho (RO) –
Araraguara 2 (SP), em CC, + 600 kV
Porto Velho
100.00%
Transmission line Coletora
Porto Velho – Porto Velho
17
26/02/2009
25/02/2039
Costa Oeste*
49.00%
LT 230 kV Cascavel Oeste Umuarama (PR)
143
12/01/2012
12/01/2042
Marumbi*
20.00%
LT 525 kV Curitiba Curitiba Leste (PR).
28
10/05/2012
10/04/2042
80.00%
LT 230 kV Nova Santa Rita Camaquã 3; LT 230 kV Camaquã 3Quinta; LT 525 kV Salto Santiago - Itá;
LT 525 kV Itá - Nova Santa Rita.
798
10/05/2012
10/04/2042
TSLE*
51.00%
LT 525 kV Nova Santa Rita - Povo
Novo; LT 525 kV Povo Novo Marmeleiro; LT 525 kV Marmeleiro
- Santa Vitória do Palmar, Sectioning
of LT 230 Kv Camaquã 3
487
01/08/2012
01/07/2042
Builder
Integração
24.50%
Construction of LT Coletora Porto
Velho (RO) – Araraguara 2 (SP),
assembly and associated services.
–
–
TSBE*
*
Extention
(KM)
–
Pre-operational stage.
Annual And Sustainability Report Eletrosul 2012 |
201
202
*
| Annual And Sustainability Report Eletrosul 2012
100.00%
49.00%
20.00%
80.00%
51.00%
RS Energia*
Costa Oeste*
Marumbi*
TSBE*
TSLE*
Pre-operational stage.
100.00%
Partic.
Porto Velho
SPE's
300 MVA
83 MVA
166 MVA
SE Ijuí 2 230/69 kv
SE Lageado Grande 230/69 kv
SE Nova Petrópolis 2 230/69 kv
672 MVA
200 MVA
75 MVA
SE Marmeleiro 525 kv
SE Santa Vitória do Palmar 525/138 kv
166 MVA
672 MVA
SE Povo Novo 525/230 kv
SE Camaquã 3 230/69 kV
SE Curitiba leste 525/230 kV (3+1 res.) x 224 MVA
300 MVA
330 MVA
SE Caxias 6 203/69 kv
SE Umuarama 230/138 kv
100 MVA
800 MW
Transf.
Capac.
SE Foz do Chapecó 230/138 kv (expansion),
Collector Substation Porto Velho 500/230 kV.
Two Converter Station CA/CC/CA Back-to-Back in 400 MW.
Substation
01/08/2012
01/08/2012
01/08/2012
10/05/2012
10/05/2012
12/01/2012
06/10/2010
06/10/2010
06/10/2010
06/10/2010
06/10/2010
26/02/2009
Concession date
01/07/2042
01/07/2042
01/07/2042
10/04/2042
10/04/2042
12/01/2042
05/10/2040
05/10/2040
05/10/2040
05/10/2040
05/10/2040
25/02/2039
Expiration of
concession
b) Substations
24.72%
Teles Pires Participações*
100.00%
100.00%
100.00%
49.00%
49.00%
Windpower Cerro Chato I
Windpower Cerro Chato II
Windpower Cerro Chato III
Chuí*
Livamento*
Windpower pant
20.00%
Partic.
ESBR Participações*
Hidroelectric plant
SPE's
Sant'Ana do Livramento (RS)
Sant'Ana do Livramento (RS)
Sant'Ana do Livramento (RS)
Sant'Ana do Livramento (RS)
Cerro Chato VI
Cerro dos
Trindade
Ibirapuitã
Chui (RS)
Cerro Chato V
Chui (RS)
Chuí V
Sant'Ana do Livramento (RS)
Chui (RS)
Chuí IV
Cerro Chato IV
Chui (RS)
Chuí II
Chui (RS)
24 MW
Chui (RS)
Chuí I
Chuí VII
30 MW
Sant!Ana do Livramento (RS)
Cerro Chato III
(RS)
24 MW
8 MW
24 MW
12 MW
10 MW
22 MW
22 MW
22 MW
24 MW
30 MW
30 MW
Sant!Ana do Livramento (RS)
Cerro Chato II
(RS)
30 MW
1,820 MW
3,750 MW
03/2013
03/2013
03/2013
03/2013
03/2013
12/2013
12/2013
12/2013
12/2013
12/2013
12/2013
05/2011
09/2011
11/2011
04/2015
04/2013
operation
power
Sant!Ana do Livramento (RS)
Rio Teles Pires (MT)
Rio Madeira (RO)
Location
Cerro Chato I (RS)
UHE Teles Pires
UHE Jirau
Plants
Comercial
Installed
22/02/2012
06/03/2012
24/02/2012
16/03/2012
16/03/2012
21/03/2012
03/04/2012
02/03/2012
24/02/2012
21/03/2012
08/03/2012
25/08/2010
25/08/2010
25/08/2010
07/06/2011
13/08/2008
Permission
Concession/
22/01/2047
06/02/2047
24/01/2047
16/02/2047
26/02/2047
21/02/2047
13/03/2047
02/02/2047
24/01/2047
21/02/2047
08/02/2047
24/08/2045
24/08/2045
24/08/2045
06/06/2046
12/08/2043
Permission
Concession/
Expiration of
13. Financial Statements and Notes
c) Hydroelectric and Wind Power Plants
Continues...
Annual And Sustainability Report Eletrosul 2012 |
203
Note 3 – Presentation of
Financial Statements
204
Pre-operational stage.
*
22/01/2047
11/2013
28 MW
Geribatu X
Santa Vitória do Palmar (RS)
22/02/2012
22/01/2047
11/2013
30 MW
Geribatu IX
Santa Vitória do Palmar (RS)
22/02/2012
24/01/2047
11/2013
26 MW
Santa Vitória do Palmar (RS)
Geribatu VIII
24/02/2012
22/01/2047
11/2013
30 MW
Santa Vitória do Palmar (RS)
Geribatu VII
22/02/2012
15/01/2047
11/2013
18 MW
Geribatu VI
Santa Vitória do Palmar (RS)
15/02/2012
05/03/2047
11/2013
30 MW
Santa Vitória do Palmar*
49.00%
Geribatu V
Santa Vitória do Palmar (RS)
05/04/2012
15/01/2047
11/2013
30 MW
Geribatu IV
Santa Vitória do Palmar (RS)
15/02/2012
22/01/2047
11/2013
26 MW
Geribatu III
Santa Vitória do Palmar (RS)
22/02/2012
15/01/2047
11/2013
20 MW
Geribatu II
Santa Vitória do Palmar (RS)
15/02/2012
22/01/2047
11/2013
20 MW
Geribatu I
Santa Vitória do Palmar (RS)
22/02/2012
Permission
Concession/
Permission
operation
power
SPE's
Partic.
Usinas
Localização
Comercial
Installed
Concession/
Expiration of
...continuation
| Annual And Sustainability Report Eletrosul 2012
3.1 Basis for preparation
The consolidated and individual financial
statements on 31 December 2012 and 2011
were prepared in accordance with accounting
practices adopted in Brazil, under the historical
cost on the basis of value, and the fair value
of certain assets and liabilities, including the
arrangements of the corporate legislation
under Law 6.404/76 with the amendments
of Laws 11.638/07, 11.941/09, and the rules
issued by the Brazilian Securities Commission
(CVM), as well as other announcements,
interpretations and guidelines issued by the
Accounting Pronouncements Committee
effective on December 31, 2012.
The Directors of the Company approved the
issuance of the consolidated and individual
financial statements on March 21, 2013.
3.2 Functional Currency and
Presentation Currency
The consolidated and individual financial
statements are presented in Brazilian Real,
which is the functional currency of the
Company and all its controlled companies and
/ or jointly controlled entities. The financial
statements are presented in thousands of Reais
(BRL thousand) except when otherwise stated.
3.3 Basis of Consolidation
The consolidated financial statements were
prepared and are being presented in accordance
with accounting practices adopted in Brazil,
including the pronouncements issued by the
Accounting Pronouncements Committee (CPC).
Transactions among companies, balances
and unrealized gains on transactions within
the Group companies are eliminated.
Unrealized losses are also eliminated unless
the transaction provides evidence of a
loss (impairment) of the asset transferred.
Accounting policies of controlled companies
have been changed where necessary to
ensure consistency with the policies
adopted by the Company.
13. Financial Statements and Notes
Controlled Companies
Controlled Companies are the entities
(including specific purpose entities) over
which the Company has the power to govern
the financial and operating policies, generally
accompanying a shareholding of more than
half of the voting rights (voting). The existence
and effect of potential voting rights that
are currently exercisable or convertible are
considered when evaluating whether the
Company controls another entity. Controlled
companies are fully consolidated from the date
on which control is transferred to the Company.
They are deconsolidated from the date that
control ceases.
Joint Controlled Companies
The joint controlled companies (joint ventures)
are the entities (including specific purpose
entities) over which the Company has no
individual power to determine the financial
and operating policies, which are taken jointly
with other shareholders. The jointly controlled
entities are consolidated in proportion to
the shareholding of the company. They are
deconsolidated from the date that control ceases.
Individual Financial Statements
In the individual financial statements of
the controlled companies, jointly controlled
entities and associates are accounted for using
the equity method. The same adjustments are
made in the financial statements regarding
consolidated financial statements to get the
same result and net worth attributable to
owners of the Company.
Annual And Sustainability Report Eletrosul 2012 |
205
Continues...
206
| Annual And Sustainability Report Eletrosul 2012
Integral
Integral
Proportional
Uirapuru
Porto Velho
Integração
Integral
Integral
Cerro Chato II
Cerro Chato III
Proportional
Proportional
Proportional
Proportional
Marumbi
Norte Brasil
TSBE
TSLE
Proportional
Proportional
Proportional
Chuí Holding
Chuí I
Chuí II
Generation
Proportional
Costa Oeste
Transmission
Pre-operation phase
Integral
Cerro Chato I
Generation
Integral
Proportional
Integral
RS Energia
Etau
Artemis
Transmission
Operating
–
–
–
51.0%
–
80.0%
80.0%
–
24.5%
24.5%
49.0%
20.0%
20.0%
49.0%
49.0%
49.0%
90.0%
24.5%
24.5%
100.0%
100.0%
100.0%
90.0%
75.0%
75.0%
100.0%
100.0%
100.0%
90.0%
27.4%
27.4%
100.0%
100.0%
100.0%
2011
2012
Participation, direct affiliate and/or in joint
Consolidation
Direct Participation (%)
Composing of corporate associated company
49.0%
49.0%
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
2012
49.0%
49.0%
–
–
–
–
–
–
–
–
–
–
–
–
–
–
2011
Indirect Participation (%)
Proportional
Proportional
Chuí VI
Chuí VII
Proportional
Proportional
Proportional
Proportional
Cerro Chato IV
Cerro Chato V
Cerro Chato VI
Cerro dos Trindade
Proportional
Proportional
Proportional
Proportional
Proportional
Proportional
Geribatu V
Geribatu VI
Geribatu VII
Geribatu VIII
Geribatu IX
Geribatu X
Proportional
Proportional
Geribatu IV
Company Teles Pires
Proportional
Geribatu III
Proportional
Proportional
Geribatu II
Teles Pires Participations
Proportional
Geribatu I
Proportional
Proportional
Ibirapuitã I
Santa Vitória do Palmar Holding
Proportional
Proportional
Livramento Holding
Sustainable Energy
Proportional
Proportional
Chuí V
ESBR Participations
Proportional
Chuí IV
–
–
–
–
20,0%
–
49,0%
–
–
–
–
–
49,0%
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
20,0%
–
49,0%
–
–
–
–
–
49,0%
–
–
–
–
–
–
–
–
–
–
24,7%
–
24,5%
–
49,0%
49,0%
49,0%
49,0%
49,0%
49,0%
49,0%
49,0%
49,0%
49,0%
–
49,0%
49,0%
49,0%
49,0%
49,0%
–
20,0%
–
49,0%
49,0%
49,0%
49,0%
24,5%
–
49,0%
49,0%
49,0%
49,0%
49,0%
49,0%
49,0%
49,0%
49,0%
49,0%
–
49,0%
49,0%
49,0%
49,0%
49,0%
–
20,0%
–
49,0%
49,0%
49,0%
49,0%
13. Financial Statements and Notes
...continuation
Annual And Sustainability Report Eletrosul 2012 |
207
The assets and liabilities by that date
were fully or proportionally considered in
consolidated financial statements according to
the form control. Revenues and expenses were
included from the acquisition of shareholder
control. Additionally, the following procedures
were adopted:
✔✔ Elimination of interest in equity of
controlled companies;
✔✔ Elimination of the equivalence result, and
✔✔ Elimination of the balances of assets and
liabilities, income and expenses between
consolidated companies.
3.4 Estimates and critical accounting
judgments
Estimates and accounting judgments are
continually evaluated and are based on
historical experience and other factors,
including expectations of future events
that are considered reasonable under the
circumstances. These estimates include:
financial concession asset, impairment,
present value adjustments, provisions
for liabilities, deferred taxes and postemployment benefits.
Reduction of financial and non-financial
assets
The Company verifies whether there is
objective evidence that a financial asset
or group of financial assets is impaired. A
financial asset or group of assets is impaired
and impairment losses are incurred only if
there is objective evidence of impairment on
the result of one or more events that occurred
after the initial recognition of the asset (a ‘loss
event’) and that event, or events, of loss has an
impact on the estimated future cash flows of
the asset or group of financial assets that can
be reliably measured.
When there are losses, it is recognized at
amount by which the asset’s carrying amount
exceeds its recoverable amount, which is the
higher of net selling price and value in use of
an asset.
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| Annual And Sustainability Report Eletrosul 2012
For evaluation purposes, assets are grouped
into groups of assets for which there are
separately identifiable cash flows (in a cash
generating unit).
Assets of the existing system (RBSE)
For estimation purposes, the Company adopted
as its premise that the existing goods until
May 31, 2000 will be compensated based on
the VNR or residual amount to be calculated
by the regulator. The Company keeps the
values recorded at net book value since in his
estimation, the book values are recorded at
amounts below if here recognized based on
the VNR.
Onerous Contracts
Represent the compulsory commitments
contracted by the Company related the
purchase of electricity, whose costs exceed
the economic benefits expected. The amount
related to long-term period is recognized at
present value, based on post-tax discount rate
(WACC post-tax) approved by the Management,
as described in note 24.
The critical estimation in determining the
amount of provision for the future sale of
the contract is the historical average PLD
approved by Eletrobras as its premise for the
calculation of the provision for an onerous
contract, exclusively for accounting purposes.
Using PLD historical average of BRL 67.00
MWh, it was recognized in the Balance of
2012, accounting provision in the amount
of BRL 896,404,000.00. Applying sensitivity
analysis using the value of BRL 88.60 MWh
for the marginal cost of operating the EPE for
the next 5 years, the provision would be BRL
634,067,000.00. In another scenario, by using
the price of BRL 100.00 per MWh, the estimated
provision would be BRL 488,000,000.00.
3.5 Main Accounting Practices
a) Cash and Cash Equivalents
They include cash liquid funds, balances in
bank accounts, financial investments and other
13. Financial Statements and Notes
short-term highly liquid investments with
original maturities of three months or less,
which are readily convertible into a known
amount of cash and which are subject to an
insignificant risk of change value.
Provisional Measure 579/2012, given the
option made by the Company on December 4,
2012, by the early renewal of the extension of
concessions on the concession contract
No. 057/2001.
b) Pledges and restricted deposits
g) Energy Credits Renegotiated with the
Union – Lei 8727/93
They represent financial investments held
for specific future payments. The balances
are held until the complete fulfillment of
certain contractual obligations on the part of
the suppliers. After initial recognition, these
investments are measured by the amortized
cost, using the effective interest rate method.
c) Clients
Correspond to the amounts receivable by
clients from the sale of energy, services
and use of the transmission system. They
are recognized based on the regime of
competence and updated where applicable and
contractually required. Accounts receivable
from clients are presented and adjusted for the
provision for loan doubted “PCLD”.
d) The provision for credits from doubtful
closeouts
It is recognized in an amount considered
sufficient by management to cover probable
losses on the creation of accounts to be
receivable based on judgments about the
value of individual credit, loans overdue for
more than 6 months or less, when upon
review of specific cases.
e) Financial concession asset
It refers to the financial asset to be receivable
by the Company under grants of electric energy
transmission. The financial assets include the
compensation that shall be made based on the
plots of investments linked to reversible assets,
not yet amortized or depreciated, which have
been performed in order to ensure continuity
and relevance of the service provided.
f) Compensatory Credits – Lei 12.783/13
They represent compensation credits to be
receivable from the Union, provided in the
They represent receivables credits from
the Union as determined by Law 8.727/93,
arising from the acquisition of holdings
that the Company had on the concessionaires
of electricity.
h) Other assets and liabilities
These are stated at known or calculable
amounts, in addition, when applicable, of
the corresponding income (charges) earned
(incurred) by the balance sheet date. They
are classified in current assets and current
liabilities, respectively, the achievable rights
and the obligations due after twelve months.
i) Deferred tax assets and liabilities
Income tax and social contribution taxes are
calculated on temporary differences between
the bases of calculation of tax assets and
liabilities and their carrying amounts of the
financial statements. The tax rates, currently
set to calculate deferred tax are 25% for
income tax and 9% for social contribution
on net income.
j) Investments
The investments in controlled companies
and associates are recorded and evaluated
by using the equity method (individual
statements), in accordance with CPC 18,
recognized in the income statement as
operating income (or operational expense).
To calculate the equity, gains or transactions
between the Company and its controlled and
associated companies are eliminated to the
extent of the participation of the Company;
where necessary, accounting policies of
controlled and associated companies are
adjusted to be consistent with the practices
adopted by the Company.
Annual And Sustainability Report Eletrosul 2012 |
209
k) Immobilized
Recorded at a cost of acquisition or
construction. The assets of the transmission
concessions are recognized in the corporate
accounting as a financial asset, as ICPC 01
and OCPC 05, leaving the record as fixed
assets and related depreciation restricted to
the bookkeeping required by the regulator.
Generation assets are depreciated over the
period of the concession, due to the noncontractual provision of the reversal of
assets at the end of the concession, not yet
depreciated and / or amortized.
l) Intangible
i) Software
Costs incurred to obtain incorporeal assets
are recognized as intangible assets, in
particular computer software licenses
that are capitalized and amortized over
the duration of the license. The expenses
associated with the maintenance of
computer programs are recognized when
incurred, as an expense.
ii) Premium
The premium arising on the acquisition
of shareholding in controlled companies
represents the difference between the
amount paid and / or payable for the
acquisition of a business and the fair
value of assets and liabilities of the
acquired entity.
The premium is based on expectations of
future earnings and have defined life time
due to it being related to the term given in
concession contracts, is amortized in due
time, to the extent and in the proportion of
projected results. The premium allocated
to identifiable assets and liabilities is
amortized in the proportion that those
assets and liabilities in the controlled
company are carried out.
iii) Rights of use of public assets
They are the values hired on the right
of the public to use public assets to the
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| Annual And Sustainability Report Eletrosul 2012
exploitation of hydropower potential, due
to onerous lease contracts with the Union,
stated at amortized cost and adjusted
by interest rates or contractual indexes
incurred up to the balance sheet date,
discounted to present value, based on
a discount rate approved by the
Company’s management.
m) Financings and Loans
Loans and financings are recognized at fair
value the receipt of funds, net worth of
transaction costs and loans are measured at
amortized cost, being added with charges,
interest and inflation under contracts, incurred
up to the balance sheet date.
n) Suppliers
Are the obligations to pay for goods or services
that have been acquired in the ordinary
course of business, or estimation, based on the
contractual terms.
o) Provisions
The provisions are recognized when the
Company has an present obligation, legal or
not formalized. Are recognized when a past
event has created a future obligation, with
the probability of outflow of resources and
its value can be reliably estimated. Therefore,
the amount established as a provision is the
best estimate of liquidation of a probable
obligation at the balance sheet date, taking
into account the risks and uncertainties
that are related.
p) Post-employment Benefits
i) Supplementary Plan for
Retirement and Pension
The Company participates in the pension
and retirement plan, administered by the
Foundation Eletrosul of Social Security, that
provide their employees, pensions and other
post-employment benefits.
The recognized liability in the balance
sheet related to pension plans defined
benefit is the present value of the defined
13. Financial Statements and Notes
benefit obligation at the balance sheet
date minus the fair value of plan assets,
adjusted: (i) actuarial gains and losses, (ii )
by rule of limiting the value of the updated
asset, and (iii) the minimum requirements
for fundamentals. The benefit obligation
is calculated annually by independent
actuaries using the projected unit credit
method. The present value of the defined
benefit obligation is determined by
discounting the future cash outflows,
using interest rates consistent with the
market revenue, which are denominated
in the currency in which the benefits will
be paid and that have terms of maturity
approximating to the respective liabilities of
the pension plan.
The debts contracted refer to requirements
for minimum fundamentals and are
considered in the determination of an
additional liability related to future
contributions that will not be recoverable.
q) Revenues, costs and expenses
The revenues, costs and expenses will be
accounted by the competent regime.
The revenue generation is recognized based
on the contracts of CCEAR and / or bi-lateral.
The transmission revenue is recognized based
on the ICPC 01 and OCPC 05, based on the
financial model.
The net financial result mainly comprises
interest and inflation arising from financial
investments, loans and financing, tax
installments and renegotiated energy credits.
Loans costs that are not directly attributable to
the acquisition, construction or production of a
qualifying asset are recognized in income using
the effective interest method.
r) Environmental Issues
Gains and losses resulting from adjustments
based on experience and changes in
actuarial assumptions are charged
or credited directly to equity in other
comprehensive results in the period they
occur. For the defined contribution plan,
the Company pays contributions to the
Foundation Elos on a mandatory, contractual
or voluntary basis.
The Company capitalizes costs related to the
environmental demands embodied in the
“environmental conditions” required by public
agencies for the environment for granting
the respective licenses allowing the execution
of projects in the areas of generation and
transmission. The “environmental constraints”
correspond to compensation that must be
performed for the execution of the project
in order to repair or prevent damage to the
environment at the place of execution of
projects, limited until the end of construction
of the projects.
ii) Health Care Benefits Plan to Retirees
s) Consortia
Besides the program of pensions, the
Company also supports a program of
medical assistance to retired employees and
their dependents for disability during the
first five years, without the employment
with Eletrosul had ceased. The obligations
under this program were also calculated
actuarially, as shown in the same report
cited above.
The Company has an investment in consortium
to explore UHE Mauá, in which the partners
have an agreement to jointly control the
operations. The shared operations involve
the activation of assets for power generation,
operation and maintenance. The Company
records in its accounting, the assets, liabilities,
revenues and expenses in proportion to their
participation in the consortium.
Annual And Sustainability Report Eletrosul 2012 |
211
3.6 Rules and interpretations of
standards that are not yet in effect
New rules and interpretations that affect the
Company issued by the IASB (International
Accounting Standards Board) has not yet come
into effect for the year ending on 31.12.2012, as
listed below.
IFRS 9 – “Financial Instruments”. Establishes
two primary measurement categories for
financial assets.Applicable by 01/01/2015.
IFRS 10 – “Consolidated Financial Statements”.
Defines that there is only one base
consolidation, meaning control. Additionally,
the IFRS 10 includes a new definition of
control that contains three elements: (a)
power over an investee, (b) exposure, or rights,
to variable returns from its involvement in the
investee, and (c) ability to use its power over
the investee to affect the value of the returns
to the investor. The Company is evaluating
the full impact of the IFRS 10. Applicable by
01/01/2013.
IFRS 11 – “Joint Agreements”. Covers how
a participation agreement in which two
or more parties have joint control should
be classified. There are two types of joint
agreements: (i) joint operations - which
occurs when an operator has rights to the
assets and contractual obligations and, hence,
accounts for its share of the assets, liabilities,
revenues and expenses, and (ii) shared control
– occurs when an operator has rights to the
net assets of the contract and accounts for
the investment by the equity method. The
proportionate consolidation method will no
longer be allowed for joint control. Applicable
by 01/01/2013.
IFRS 12 – “Disclosure of Interests in Other
Entities”. This rule deals with the disclosure
applicable to entities that have interests
in controlled companies, joint agreements,
associates and / or unconsolidated structured
entities Applicable by 01/01/2013.
212
| Annual And Sustainability Report Eletrosul 2012
IFRS 13 – “Fair Value Measurement “. Defines
a fair value, explains how to measure it
and determines what must be disclosed on
this way of measurement. Applicable by
01/01/2013.
Amendment to IAS 1 – “presentation of other
comprehensive results”. Covers aspects
relating to the disclosure of items of other
comprehensive results and establishes the
need to segregate the items that can and can
not be potentially reclassifiable to the result,
when certain conditions are met. Applicable
by 01/01/2013.
Amendment to IAS 19 – “Employees Benefits”.
Eliminates the approach method “corridor”
that allows the deferral of the recognition
of actuarial gains or losses in the income
statement. In accordance with the revised
IAS 19, gains or losses annually evaluated
by actuaries to be recognized in “other
comprehensive income” in shareholders’
equity. The Company eliminated the adoption
of the “corridor” method in 2010. Applicable by
01/01/2013.
Amendment to IFRS 7 – “Financial
Instruments: Disclosures”. Establishes rules
for disclosure of compensation agreements of
financial assets and liabilities. Applicable by
01/01/2013.
Amendment to IAS 16 – “Immobilized”.
Revision aims to clarify the main repair parts
and equipment for the provisions of services
that fall within the concept of fixed assets
are not part of the inventory. Management
understands that this review should not have
any impact on the financial position following
01/01/2013. Applicable by 01/01/2013
Amendment to IAS 32 – “Clarify the
requirements for compensation of financial
instruments”. The amendment aims to
clarify the compensation criteria of IAS 32
for settlement systems (systems of clearing
13. Financial Statements and Notes
NOTE 4 - Cash Desk
and Equivalents
chambers). The Management understands that
these revisions should not have any impact on
the financial position, since does not apply to
the Company. Applicable by 01.01.2014.
a) Market Investments
The financial investments of the Company
in accordance with Resolution No. 2,917, of
12/19/2001, the Central Bank of Brazil, are
applied at the bottom of the FAE Bank of Brazil,
which has as its profitability target of 98%
Average SELIC rate (TMS). They are operations
that have, as features, daily liquidity, low risk
and reward that in December 2012, the average
gross return from Eletrosul applications in the
Bank of Brazil reached 9.16% or 95.71% of TMS.
There are no other IFRSs rules or IFRIC
interpretations that have not yet entered in
effect that could have significant impact on
the Company, except for the proportionate
consolidation of jointly controlled entities.
Controlling Company
Cash and Equivalents
Consolidated
2012
2011
2012
2011
Cash and banks deposits on demand
18,193
10,948
100,130
99,893
Financial application
69,261
246,391
512,676
524,294
Total
87,454
257,339
612,806
624,187
The breakdown of investments is given below:
Financial
institution
Application Type
Controlling Company
Index
2012
2011
Consolidated
2012
2011
ABN
CDB
CDI
–
–
–
156
Banco do Brasil
CDB
CDI
–
–
177,223
180,547
Banco do Brasil
Exclusive Fund
CDI
–
117,547
–
117,547
Banco do Brasil
FAE Fund
CDI
–
128,844
–
128,844
Banco do Brasil
FAE Fund
IRF-M1
69,261
–
69,261
–
Banco Itaú
CDB
CDI
–
–
88,268
45,589
Bradesco
CDB
CDI
–
–
11,697
12,277
CEF
CDB
CDI
138,473
–
HSBC
CDB
CDI
–
–
–
368
Safra
CDB
CDI
–
–
–
10,013
Santander
CDB
CDI
5,698
–
Votorantin
CDB
CDI
–
–
268
27,781
Votorantin
Vintage Fund
CDI
–
–
21,788
1,172
69,261
246,391
512,676
524,294
Annual And Sustainability Report Eletrosul 2012 |
213
Since February 27, 2012, it came into effect
the resolution No. 4034 of 11/30/2011, of the
Central Bank of Brazil, which defines the new
investment policy of the Extramarket Fund,
whose returns should be referred to one of
the Market Indices Anbima, before this, the
Company elected to only apply the resources
Marketable securities
available in the FAE Fund referenced to the
IRF-M1 Index.
b) Deeds and Securities
Below, the deeds and securities are presented by
their nature (see note 14):
Controlling Company
Consolidated
2012
2011
2012
2011
39
39
39
39
National Treasury Notes (NTN)
100
97
100
97
Total
139
136
139
136
Non-Current
Stock
The details of the deeds and securities are:
Securities
214
Cunstodian
Financial
Agent
Maturity
Index
Controlling
Company
2012
2011
Consolidated
2012
2011
NTN-P
Banco do
Brasil
21/03/2018
TR+6% aa
2
2
2
2
NTN-P
Banco do
Brasil
28/12/2015
TR+6% aa
95
92
95
92
NTN-P
Banco do
Brasil
28/12/2014
TR+6% aa
3
3
3
3
100
97
100
97
| Annual And Sustainability Report Eletrosul 2012
13. Financial Statements and Notes
NOTE 5 – Pledges
and Joint Deposits
Next, the pledges and joint deposits are
presented by their nature:
Controlling Company
Escrows and linked deposities
2012
2011
Consolidated
2012
2011
Current
Escrow CEF - ANEEL guarantee
9
9
9
9
Escrow CEF - PCH São Mateus
13
13
13
13
Escrow CEF - PCH Santo Cristo
10
–
10
–
3,641
319
3,641
319
49,555
–
49,555
–
87
14
87
14
1,220
1,137
1,220
1,137
Fund linked BB conv. PROCEL ECV-042/04
–
136
–
136
Fund linked BB conv. PROCEL ECV-028/05
–
249
–
249
Fund linked BB conv. ECV-182/2006
–
142
–
142
817
–
817
–
Fund linked - Time Deposit - ESBR-P
–
–
2,633
25,283
Fund linked rental guarantee
–
–
–
9
55,352
2,019
57,985
27,311
9,880
9,127
9,880
9,127
10,300
9,269
10,300
9,269
Fund linked BB São Domingos
7,556
–
7,556
–
Fund linked BB Passo São João
7,084
–
7,084
–
1,527
–
1,527
–
–
1,206
–
1,206
9,371
–
9,371
–
Fund linked - Time Deposit - ESBR-P
–
–
5,139
3,867
fund linked to financing guarantee
–
9,912
10,818
22,442
45,718
29,514
61,675
45,911
101,070
31,533
119,660
73,222
Escrow Bradesco - CBLC
Escrow BB Eletronet
Fund linked BB conv. SENAI 6246
Fund linked BB conv. PRC-PRODEEM
Fund linked - Enviromental compensation
Subtotal
Non-current
Fund linked BNDES Mauá
Fund linked BB Mauá
Fund linked BB O&M Application Mauá
Fund linked BB O&M Application SC Energia
Fund linked BB SC Energia
Subtotal
Total
The amount of BRL 49,555,000.00, shown
under “Deposits Eletronet BB”, is due to the
expiration of CFT assets that were assigned in
free lease under the contract ECF-2799/2009
and that were offered as warranty in a
lawsuit of Operation Eletronet . The same
value is recorded in current liabilities
under “other liabilities”, because it will be
converted into long-term financial loan
along Eletrobras.
Annual And Sustainability Report Eletrosul 2012 |
215
The amounts of the items “Linked Funds Mauá
BNDES and Mauá BB” refers to the establishment
of a reserve account in respect of contracts of
funding of UHE Mauá with BNDES and Banco do
Brazil, according to contractual clauses.
guarantees letters of credit issued by the Bank
of Brazil, and Banco Itaú in favor of suppliers
DongFang Hyosung. The estimated period
of use of these applications for payments
to suppliers is calculated based on delivery
timelines proposed by DongFang and Hyosung,
reviewed at least quarterly.
The value under “Linked Funds - Time Deposit
- ESBRP” refers to investments in time deposit
held by the ESRB for the purpose of backing
Financial
institution
Application
Type
The details of the linked funds is below:
Index
Controlling Company
2012
Consolidated
2011
2012
2011
Banco do Brasil
CDB
CDI
–
11,118
18,590
12,051
Banco do Brasil
Exclusive Fund
CDI
–
18,645
–
18,645
Banco do Brasil
Fund FAE
CDI
–
1,429
–
1,429
Banco do Brasil
Fund FAE
IRF-M1
97,397
–
97,397
–
Banco do Brasil
Time deposits
libor + spread
–
–
–
5,631
Banco Itaú
Time deposits
1.7%-2.0%
–
–
–
19,652
Bradesco
CDB
CDI
3,641
319
3,641
8,679
Caixa
Bearing account
TR
32
22
32
22
Citibank
Fund
CDI
–
–
–
7,113
101,070
31,533
119,660
73,222
NOTE 6 – Clients
Controlling Company
2012
Use of electrical grid
Conection to transmission system
energy commercialization
Energy Supply
(-) Net doubtful credit provision (nota 11)
216
2011
Maturing
Overdue
total
total
98,724
7,065
105,789
99,765
8,664
–
8,664
8,161
28,069
7,265
35,334
2,768
5,814
–
5,814
–
–
(13,766)
(13,766)
(3,509)
141,271
564
141,835
107,185
| Annual And Sustainability Report Eletrosul 2012
13. Financial Statements and Notes
Consolidated
2012
Maturing
Use of electrical grid
Overdue
total
total
121,599
8,269
129,868
114,986
8,664
–
8,664
13,494
28,069
7,265
35,334
2,768
9,441
–
9,441
–
(6)
(14,264)
(14,270)
(3,773)
167,767
1,270
169,037
127,475
Conection to transmission system
energy commercialization
2011
Energy Supply
(-) Net doubtful credit provision (nota 11)
The amounts of BRL 13,766.00 in Controlling
company and BRL 14,270,000.00 in the
Consolidated refer to the allowance for
doubtful accounts of invoices overdue for more
than six months and is in process of collection /
negotiation between the parties involved.
Controlling Company
2012
Maturing
Origin/clients
(-) Net doubtful credit provision
(nota 11)
Overdue
until 90
dias
2011
Overdue
after 90
dias
total
total
141,271
281
14,049
155,601
110,694
–
–
(13,766)
(13,766)
(3,509)
141,271
281
283
141,835
107,185
Consolidated
2012
Maturing
Origin/clients
(-) Net doubtful credit provision
(nota 11)
Overdue
until 90
dias
2011
Overdue
after 90
dias
total
total
167,773
414
15,120
183,307
131,248
–
–
(14,270)
(14,270)
(3,773)
167,773
414
850
169,037
127,475
Annual And Sustainability Report Eletrosul 2012 |
217
The fluctuation in the allowance of doubtful
accounts is as follows:
Controlling Company
2012
2011
2012
2011
3,509
1,299
3,773
1,499
10,592
2,405
10,842
2,469
(335)
(195)
(345)
(195)
–
–
–
–
13,766
3,509
14,270
3,773
Opening balance
Provisions
Reversals
Write off for losses
NOTE 7 – Financial Assets –
Public Service Grants
under the ICPC Technical Interpretation No. 01,
resulting from the application of the model of a
financial asset.
The concession contracts of transmission of
the Company and Controlled Companies are
Financial asset
Consolidated
Controlling Company
2012
2011
Consolidated
2012
2011
Current
Financial Asset Amortizable RAP (I)
16,434
118,851
57,232
152,543
Subtotal
16,434
118,851
57,232
152,543
Non-Current
Financial Asset Amortizable RAP (I)
361,266
589,004
1,573,152
1,429,642
Financial Asset indemnifiable (II)
608,510
1,811,738
1,099,674
2,188,468
Subtotal
969,776
2,400,742
2,672,826
3,618,110
Total
986,210
2,519,593
2,730,058
3,770,653
Of the balance of BRL 608,510,000.00 shown
under “Financial Assets Compensatory II)
in non-current assets, the amount of BRL
514,924,000.00 refers to the balance of the
218
| Annual And Sustainability Report Eletrosul 2012
financial asset on the existing system (RBSE),
whose value of compensation is in review by
ANEEL (see note 1, d).
13. Financial Statements and Notes
The fluctuation of the account of financial assets is as follows:
Controlling Company
Transmission
2012
Opening balance on Januray, 1st
Consolidated
2011
2012
2011
2,519,593
2,529,047
3,770,653
3,183,296
82,730
92,201
557,410
514,193
423,875
320,932
566,199
396,684
(1,430,868)
–
(1,430,868)
–
(534,939)
(422,587)
(659,155)
(323,520)
(32,115)
–
(32,115)
–
(-) Transfer to fixed assets
(42,066)
–
(42,066)
–
Final balance on December 31
986,210
2,519,593
2,730,058
3,770,653
(+) Construction income
(+) Financial income
(-) Write off financial asset Law 12.783/13 (note 1,d)
(-) Amortization, incomes, write off and transfers
(-) Impairment
Breakdown of balances of financial asset by concession contracts:
Company
Concession Contract
Consolidated
2012
2011
nº 057/2001*
520,418
2,034,031
nº 010/2005
390,904
378,091
nº 004/2008
44,541
72,552
nº 005/2009
30,347
34,919
Artemis
nº 004/2004
245,604
250,002
Costa Oeste
nº 001/2012
418
–
Etau
nº 082/2002
33,859
32,972
Marumbi
nº 008/2012
93
–
Norte Brasil
nº 016/2009
446,214
174,930
Porto Velho
nº 010/2009
553,343
427,248
RS Energia
nº 005/2006
336,059
275,010
TSBE
nº 004/2012
32,039
–
TSLE
nº 020/2012
6,812
–
Uirapuru
nº 002/2005
89,407
90,898
2,730,058
3,770,653
Eletrosul
Controlled
Total
* See note 1, d. Annual And Sustainability Report Eletrosul 2012 |
219
NOTE 8 – Compensatory Credits
– Law 12.783/13
Compensatory credits refer to the amount
of compensation imposed by Law 12.783/13,
arising from the anticipated renewal of
the concession contract No. 57/2001, whose
values were reported by the MME Ordinance
No. 579/2012, having the Company opted for
receiving 50 % in cash to the IPCA from October
2012, to be received within 45 days after the
signing of the option and the extension of the
concession contract No. 57/2001 on December
4, 2012, and the remainder equivalent to 50%,
to be received in 31 monthly installments until
07/2015, adjusted by IPCA, in addition to a
regulatory discount rate (WACC), equivalent
to 5.59% per year.
The fluctuation of the Compensatory Credits
account is presented below:
Controlling Company
Transaction on period:
2012
Closing balance of previous period
–
2,008,668
Recognition of indemnity
–
Recipt
12,052
Monetary Restatement
4,563
Interest
Balance ending period
2,025,283
Current
1,404,632
Non-Current
620,651
The original amount of the credits and the
determination of this compensatory surplus is
stated in note 1, d.
NOTE 9 – Energy Credits
Renegotiated with the Union
The renegotiated credits refer to loans
from the Union, updated by the IGP-M plus
interest of 12.68% per year, resulting from the
acquisition of assets that the Company had in
the state concessionaires of electricity. Under
the umbrella of Law No. 8.727/93, the Union
Transaction on period:
Controlled and Consolidated
2012
2011
607,391
672,678
(144,209)
(178,512)
43,907
32,944
71,565
80,281
Balance ending period
578,654
607,391
Current
140,068
127,639
Non-Current
438,586
479,752
Closing balance of previous period
Recipt
Monetary Restatement
Interest
220
assumed, rescheduled and refinanced debt in
240 installments, maturing from April 1994.
After that period of 20 years and remaining
with the balance payable, since the Federal
Government only passes the funds received
from the states, which, in turn, are limited
by law in commitment levels of income,
the installment will be extended by 120
months. The taxes on income arising from the
updating of these credits are deferred.
(see note 15)
| Annual And Sustainability Report Eletrosul 2012
13. Financial Statements and Notes
NOTE 10 – Dividends
to Be Received
The amounts presented in this section refer
to estimates of the minimum dividend to be
allocated by the SPEs. Considering that the
consolidation of information of the Controlled
Companies is made with a lag of 30 days,
the values presented in 2012 are based on
net income in the Statements of Income of
Investees on November 30, 2012.
Dividends
Partnership of Especific
Purpose (SPE)
Controlling Company
% of participation
2012
2011
Artemis
100.00%
15,945
4,863
Cerro Chato III
100.00%
176
652
Etau
27.40%
535
513
Integração
24.50%
–
2,060
Norte Brasil
24.50%
805
250
Porto Velho
100.00%
1,351
–
RS Energia
100.00%
2,332
773
75.00%
1,908
1,382
23,052
10,493
Uirapuru
NOTE 11 – Allowance
for Credit Losses
Based on the expectation of the likely collection
of the credits and also and legal evaluations,
the Company recorded a provision for losses on
doubtful accounts, pertaining to “customers”
(note 6) in current assets in the amount of
BRL 13,766,000.00, “diverse debtors” (note 14),
recorded in current assets in the amount of BRL
7,023,000.00, relating to credits with Eletropar,
linked to loans that it holds at Eletronet, which
in turn had its bankrupt and “other credits”
(note 14) in current assets in the amount of
BRL 3,830,000.00.
Along the same lines of evaluation, it is also
kept provisions for losses on doubtful accounts,
recorded in non-current under the caption “Other
credits” in the amount of BRL 10,154,000.00,
concerning the monetary adjustment in
litigation, calculated on energy credits
renegotiated during the Real Plan. (see note 14)
Annual And Sustainability Report Eletrosul 2012 |
221
Changes in provision for doubtful accounts:
Consolidated
2012
Note
Balance on
12.31.2011
6
3,773
Other debtors
14,2
7,023
–
Other credits
14,1
4,610
14,1
10,154
Current Asset
Clients
Provisions
Reversals
Write off
for losses
Balance on
12.31.2012
–
14,270
–
–
7,023
368
(1,148)
–
3,830
–
–
–
10,154
Non-Current Asset
Other credits
Consolidated
2011
Note
Balance on
12.31.2010
Provisions
Reversals
Write off
for losses
6
1,499
2,469
(195)
–
3,773
Other debtors
14,2
7,023
–
–
–
7,023
Other credits
14,1
4,574
619
(583)
–
4,610
14,1
10,154
–
–
–
10,154
Current Asset
Clients
Balance on
12.31.2011
Non-Current Asset
Other credits
NOTE 12 – Taxes to Be Recovered
Controlling Company
2012
2011
2012
2011
2,942
13,892
5,266
17,299
PIS
10,914
10,703
32,709
23,047
COFINS
50,272
49,305
150,667
106,166
–
5,885
1,156
6,121
436
16,733
7,873
24,169
8,372
1,038
9,593
1,777
(1,919)
(4,110)
(1,919)
(4,110)
71,017
93,446
205,345
174,469
Current
29,582
30,983
51,593
42,509
Non-Current
41,435
62,463
153,752
131,960
ICMS
Social Contribuition
Income Tax
Other credits
(-) Adjustments of present value tributes
222
Consolidated
| Annual And Sustainability Report Eletrosul 2012
13. Financial Statements and Notes
ICMS, PIS and COFINS refer to credits
taken in the purchase of fixed assets and
in the formation of financial assets of the
transmission. Of the total credit from PIS and
COFINS, a portion is available for compensation
and the remainder will be appropriate from the
commercial operation of the UHE’s and PCH.
NOTE 13 – Advance for
Future Capital Increase
a) AFAC Assets Movements
a.1) Composition of balances from AFAC by SPE:
Controlling Company
2012
2011
Cerro Chato I
–
86,760
Cerro Chato II
–
80,910
Cerro Chato III
–
74,790
Livramento
–
3,742
Porto Velho
–
50,000
RS Energia
–
66,258
Santa Vitória do Palmar
–
5,067
TSBE
31,898
–
TOTAL
31,898
367,527
Arrangement of balance per company
a.2) Movements:
Controlling Company
2012
2011
Opening balance
367,527
42,390
(+) AFAC ported during the year
158,012
419,515
(493,641)
(94,378)
31,898
367,527
(-) Payment of Capital
Total
b) AFAC Liabilities Movements
The balance of the “advance for future capital
increase” in the amount of BRL 554,930,000.00
is comprised of amounts received by the
Eletrobras shareholder.
Controlling Company
2012
Opening balance
(+) AFAC received during the year
(+) Update by SELIC
(-) Incorporated into Capital
Total
2011
1,810,793
724,125
728,630
972,279
178,231
114,389
(2,162,724)
–
554,930
1,810,793
Annual And Sustainability Report Eletrosul 2012 |
223
NOTE 14 – Other Assets
Controlling Company
Consolidated
2012
2011
2012
2011
Other credits
55,071
27,563
116,915
33,222
Other debtors
13,845
31,505
15,184
31,969
Current Services
21,913
27,916
21,913
27,916
Current Deactivation
18,507
3,651
18,507
3,651
1,088
1,215
1,088
1,215
110,424
91,850
173,607
97,973
Current
69,410
75,031
114,058
76,720
Non-Current
41,014
16,819
59,549
21,253
Current Disposal
14.1 Diverse Credits
Controlling Company
2012
2011
2012
2011
Credities Securities Receivable / Alien., assets and rights
2,794
3,493
2,794
3,493
Credities for Services Rendered to Third
6,750
10,341
45,549
2,275
Securities and Marketably Securities
139
136
139
136
Amounts Blocked Judicially
175
20
344
61
1,180
–
1,180
–
11,364
7,734
11,364
7,756
615
382
10,982
14,006
Litigation Credits
10,154
10,154
10,154
10,154
Deposits Linked to Litigation
26,741
6,025
39,285
6,112
Compulsory Loan of Fuel
2,024
1,876
2,024
1,876
–
–
25
–
Mayoralts Agreements
4,252
734
4,252
734
Other credits receivable
2,867
1,432
2,807
1,383
(13,984)
(14,764)
(13,984)
(14,764)
55,071
27,563
116,915
33,222
Current
14,057
10,744
57,366
11,969
Non-Current
41,014
16,819
59,549
21,253
Global Reserve of Reversion (GRR)
Expenditure to Repay
Insurance Premium
Financial Application - Teles Pires
(-) Prov. outros créd. liquid. Duvidosa (nota 11)
224
Consolidated
| Annual And Sustainability Report Eletrosul 2012
13. Financial Statements and Notes
The Company records under “Provisions for
risks”, as evidenced in non-current liabilities,
only the values of related judicial deposits
to which provisions of the legal opinion
was “probable loss”, reducing provisions for
contingencies.
14.2 Diverse Debtors
Controlling Company
Consolidated
2012
2011
2012
2011
Income receivable - Charges of debts
1,423
1,403
1,423
1,403
Advanced for Suppliers
1,626
21,779
2,776
21,971
Eletrobrás Participações S/A - Eletropar
7,023
7,023
7,023
7,023
280
280
280
280
5,077
4,199
5,159
4,226
Credit with employee
143
150
143
277
Medical Accreditation
2,383
2,332
2,383
2,332
Other debtors
2,913
1,362
3,020
1,480
(7,023)
(7,023)
(7,023)
(7,023)
13,845
31,505
15,184
31,969
Brasilian Telecommunications Company S/A
Advanced for employee
(-) Net doubtful credit provision (note 11)
The credits with Eletrobras Participações
S/A (Eletropar), linked to credits that it holds
in Eletronet, which in turn, was declared
bankrupt, are included in the provision for
losses on doubtful accounts. (see note 11).
Annual And Sustainability Report Eletrosul 2012 |
225
14.3 Deactivations, Disposal and Ongoing Services
Current Services
Controlling Company
2012
2011
2012
2011
–
126
–
126
156
151
156
151
27
16
27
16
156
508
156
508
1
2,226
1
2,226
R&D ANEEL other
143
8,969
143
8,969
Substitution of transformer
III-GENVISA on SE Joinville
743
743
743
743
4,600
4,633
4,600
4,633
606
230
606
230
2,197
1,936
2,197
1,936
627
–
627
–
Owner's Engineering IBIRAPUITA, C. Chato IV, V
4,859
–
4,859
–
Owner's Engineering VERACE I A X
1,425
–
1,425
–
Sinistro transformador Siderópolis
1,009
872
1,009
872
Alternative sources for generation
of electrical energy
–
2,199
–
2,199
28
28
28
28
1,818
1,818
1,818
1,818
Development of passive sensor
779
–
779
–
Use of plasma technology for bauxite
381
–
381
–
Study for expansion of UHE Belo Monte
300
208
300
208
2,058
3,253
2,058
3,253
21,913
27,916
21,913
27,916
18,507
3,651
18,507
3,651
1,088
1,215
1,088
1,215
41,508
32,782
41,508
32,782
Building of sustainable house
Agreement MME - 009/2004 Evit. Capac. Prodee
Implementation LT 525 kV
Campos Novos/Santa Rita-RS
Implementation new distribution transformer
for Gerdau - SE Charqueadas
Alto Uruguai Project
Project analysis acomp. Comis. das instalações
Bidding and Auction ANEEL
Owner's Engineering UHE Mauá
Owner's Engineering CHUI I, II, IV, V
Sinistro transformadores SE Curitiba
Change of climate system Sertão do Maruim
Other services
Current Deactivation
Current Disposal
NOTE 15 – Deferred Taxes
Deferred taxes assets are recognized to the
extent that it is probable that future taxable
profit will be available to be offset against
temporary differences, based on projections of
future results prepared and supported on
226
Consolidated
| Annual And Sustainability Report Eletrosul 2012
internal assumptions and future economic
scenarios which can therefore, change.
Income tax and social contribution taxes on
temporary differences are as follows:
13. Financial Statements and Notes
Controlling Company
2012
2011
Consolidated
2012
2011
Asset Non-Current
Civil and Fiscal Provisions
27,136
8,670
27,136
8,670
Labor Provision
24,567
21,496
24,567
21,496
Actuarial liability
64,442
6,702
64,442
6,702
7,247
4,025
7,327
4,025
309,543
2,453
309,543
2,453
9,488
8,480
9,488
8,480
90,528
48,575
90,528
48,575
10,717
11,287
10,717
11,287
–
–
7,733
4,633
7,248
9,226
7,248
9,226
–
–
–
4,792
1,236
1,398
1,236
1,398
–
–
8,600
3,703
552,152
122,312
568,565
135,440
195,554
205,469
195,554
205,469
Special installment plan (PAES)
1,295
1,242
1,295
1,242
Provision of adoption adjustments CPC's
3,042
11,427
8,648
12,582
Amortization of goodwill without investiment
5,992
–
5,992
–
Accelerated depreciation UHE Passo São João
4,366
–
4,366
–
22,689
22,175
30,408
29,119
232,938
240,313
246,263
248,412
319,214
(118,001)
322,302
(112,972)
Provision for Doubtful Debt
Provision for Loss of onerous contract
Amortization of goodwill without investiment
Recoverable value of assets (Impairment)
Profit Sharing (PS)
Tax loss and negative social contribution
Contribution for benefit of
the present generation
Derivatives
Adjustment of tributes present value and UBP
Other
Liability Non-Current
Income for updating of
renegotiated energy credits (i)
Other
Net Deferred Taxes
(i) The deferral of taxes on income from
updating renegotiated energy credits
– Law No. 8.727/93 was initiated in
January 1999. Up to December 1998, all
taxes on such income (interests and
monetary variation) were collected by
the competence regime. However, the
values collected up to that date had
already exceeded the amount received
by the Union with the payment of the
debt to Eletrosul, due to the Law No.
8.727/93. Hence, in order to preserve
the Company’s assets, Management
elected to defer taxes, as of January
1999, for payment based on the
amount received.
Annual And Sustainability Report Eletrosul 2012 |
227
Up to December 2004, there were compensated
the values collected until competence in
December 1998. As of January 2005, it moved to
tax and collect on amounts actually received.
This situation is due to the fact that the Union
pays the monthly installments of their debt
under the receiving states, which, in turn, are
limited by law in commitment levels of its
revenues, as described in note 9.
The expectancy of compensation of deferred
tax assets and liabilities are:
Consolidated
Year
Deferred fiscal asset
Deferred fiscal liability
2013
52,413
10,272
2014
30,572
10,272
2015
36,831
11,039
2016
29,579
11,108
2017
24,732
11,108
378,025
179,139
552,152
232,938
After 2017
Total
NOTE 16 – Investments
16.1 Investments in the Controlled
Companies and Joint Controlled
Controlling Company
Permanent Corporate Participation
Controlled
Jointly-controlled company
Other
Total investment
228
| Annual And Sustainability Report Eletrosul 2012
2012
2011
1,086,086
650,524
1,457,852
695,011
3,277
3,281
2,547,215
1,348,816
100.0%
100.0%
Cerro Chato II
Cerro Chato III
24.5%
Integração
49.0%
20.0%
49.0%
20.0%
24.5%
49.0%
80.0%
51.0%
24.7%
Costa Oeste
ESBR Participações
Livramento
Marumbi
Norte Brasil
Santa Vitória
do Palmar
TSBE
TSLE
Teles Pires Participações
Totals
Other investiments
49.0%
Chuí
Pre-operation phase
75.0%
100.0%
Porto Velho
Uirapuru
100.0%
RS Energia
27.4%
100.0%
Cerro Chato I
Etau
100.0%
Part.
(%)
Artemis
Operating
Partnership of Especific
Purposes (SPE´s)
17,345
–
–
93,550
1,348,816
1,178,224
–
6,408
–
3,281
97,551
166,110
16,119
–
622
–
–
8,898
36,055
–
56,120
–
107,500
193,624
390,001
79,092
146,203
554,408
–
21,840
1,194
74,789
2,275
196
80,910
–
33,887
86,760
–
–
–
Additions
252,302
Balance on
31/12/2011
49,700
–
(3,734)
(564)
(107)
(492)
3,414
(52)
(775)
(4,352)
(252)
(281)
9,197
7,935
2,685
8,182
4,793
(1,721)
(904)
(261)
26,989
Results of Corporate
Participation
8,304
–
–
–
–
–
8,536
–
–
(232)
–
–
–
–
–
–
–
–
–
–
–
Adjustments
of Equity
Evaluation
(31,348)
–
–
–
–
–
(554)
–
–
–
–
–
2,060
(6,902)
(1,351)
(1,558)
(2,937)
476
–
–
(20,582)
Destin./
Adjustments
of dividends
(6,477)
–
–
–
–
–
–
–
–
(721)
(18)
–
–
–
(5,738)
Amortization of
goodwill
(4)
(4)
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
Other
2,547,215
3,277
89,816
16,781
6,301
97,059
193,625
570
35,280
939,825
1,138
33,606
20,155
56,432
302,440
231,919
23,696
75,819
80,006
86,499
252,971
Balance on
31/12/2012
13. Financial Statements and Notes
16.2 Changes in investments in controlled
companies and jointly controlled
Year 2012:
Annual And Sustainability Report Eletrosul 2012 |
229
230
24.5%
Integração
| Annual And Sustainability Report Eletrosul 2012
20.0%
24.5%
100.0%
24.5%
ESBR Participações
Norte Brasil
Porto Velho
Teles Pires
Totals
Other investiments
49.0%
Costa Oeste
Pre-operation phase
75.0%
Uirapuru
27.4%
Etau
100.0%
90.0%
Cerro Chato III
RS Energia
100.0%
Part. (%)
Artemis
Operating
Partnership of Especific
Purposes (SPE´s)
30,584
–
24,455
2,312
94,378
(26)
–
3,307
448,314
–
194,186
883,452
6,394
9,434
142,799
–
142,646
412,001
–
17,934
196
–
–
–
173,989
Additions
77,177
Balance on
31/12/2010
33,675
–
(828)
(1,330)
1,164
(3,646)
–
8,646
4,474
3,253
5,413
2,927
13,602
Results of Corporate
Participation
2,631
–
–
–
(623)
3,254
–
–
–
–
–
–
–
Adjustments
of Equity
Evaluation
(17,006)
–
–
768
(250)
–
–
(2,060)
(3,092)
304
(1,507)
(652)
(10,517)
Destin./
Adjustments
of dividends
(2,250)
–
–
–
–
–
–
–
(301)
–
–
–
(1,949)
Amortization of
goodwill
–
–
–
–
–
–
–
–
–
–
–
–
Other
1,348,816
3,281
93,550
193,624
16,119
554,408
196
8,898
56,120
146,203
21,840
2,275
252,302
Balance on
31/12/2011
Year 2011:
13. Financial Statements and Notes
16.3 Summary of financial information
of controlled companies and jointly
controlled
The main financial information of balance sheets
of the controlled companies and jointly controlled
entities are as follows, by the original values
without considering proportionality.
2012
Part. (%) on
12.31.2012
Revenues
Profit
(Loss) of
operative
fiscal year
Artemis
100.0%
66,555
27,140
283,250
117,865
165,385
Cerro Chato I
100.0%
11,614
639
158,955
72,456
86,499
Cerro Chato II
100.0%
12,432
(787)
153,187
73,181
80,006
Cerro Chato III
100.0%
13,022
(2,028)
149,816
73,997
75,819
27.4%
29,271
17,484
132,195
45,766
86,429
100.0%
93,886
8,182
388,128
156,209
231,919
75.0%
21,949
10,713
98,729
44,886
53,843
100.0%
142,664
2,685
612,217
311,187
301,030
24.5%
93,394
37,539
159,230
76,964
82,266
Chuí
49.0%
–
(574)
75,754
7,171
68,583
Costa Oeste
49.0%
–
(516)
2,391
70
2,321
ESBR
Participações
20.0%
–
(21,786)
14,492,856
9,793,732
4,699,124
Livramento
49.0%
–
(1,581)
103,567
31,566
72,001
Marumbi
20.0%
–
(262)
2,892
43
2,849
Norte Brasil
24.5%
1,107,237
13,829
2,482,661
1,692,361
790,300
Santa Vitória do
Palmar
49.0%
–
(1,004)
206,718
8,637
198,081
TSBE
80.0%
40,049
(134)
68,433
60,557
7,876
TSLE
51.0%
13,357
(1,106)
35,472
2,568
32,904
Teles Pires
24.7%
–
(15,241)
1,366,032
999,430
366,602
Partnership
of Especific
Purpose (SPE's)
Total asset
Liability
Net equity
Operating
Etau
RS Energia
Uirapuru
Porto Velho
Integração
Pre-operation phase
Annual And Sustainability Report Eletrosul 2012 |
231
2011
Partnership
of Especific
Purpose (SPE's)
Part. (%) on
12.31.2011
Revenues
Profit
(Loss) of
operative
fiscal year
Total asset
Liability
Net equity
Operating
Artemis
100.0%
47,746
20,447
275,812
111,969
163,843
Cerro Chato I
90.0%
5
(772)
148,348
149,228
(880)
Cerro Chato II
90.0%
1,363
4
155,261
155,358
(97)
Cerro Chato III
90.0%
6,620
3,357
164,024
160,771
3,253
27.4%
34,296
24,665
136,588
56,692
79,896
100.0%
65,097
3,254
329,664
132,429
197,235
Uirapuru
75.0%
16,213
7,756
100,411
46,237
54,174
Integração
24.5%
53,260
35,405
69,670
24,944
44,726
ESBR
Participações
20.0%
87
(18,231)
10,002,312
7,230,271
2,772,041
Norte Brasil
24.5%
562,935
4,302
753,737
712,925
40,812
Porto Velho
100.0%
248,296
(1,329)
445,582
253,385
192,197
24.5%
–
(3,381)
469,772
473,152
(3,380)
Etau
RS Energia
Pre-operation phase
Teles Pires
232
| Annual And Sustainability Report Eletrosul 2012
13. Financial Statements and Notes
16.4 Information Regarding Investee Societies
Partnership of
Especific Purposes
(SPE´s)
% Part.
Stockholders
%
Beginnig of
construction
Beginnig of
operation
Expiration of
concession
2003
2004
2034
2003
2004
2032
Comercial operating
Artemis*
Etau
Uirapuru
100.0
27.4
75.0
–
–
Transmissora
Aliança
52.6
CEEE
10.0
DME
Energética
10.0
ELOS
25.0
2004
2005
2035
RS Energia
100.0
–
–
2006
2009
2036
Porto Velho
100.0
–
–
2009
2012
2039
Cerro Chato I
100.0
–
–
2010
2012
2045
Cerro Chato II
100.0
–
–
2010
2012
2045
Cerro Chato III
100.0
–
–
2010
2011
2045
–
–
–
2009
2013
2039
Construtora
Integração
24.5
Eletronorte
24.5
Abengoa
Brasil
51.0
Eletronorte
24.5
Abengoa
Brasil
51.0
Pre-operation phase
Norte Brasil
Costa Oeste
49.0
Copel
51.0
2012
2014
2042
TSBE
80.0
Copel
20.0
2012
2014
2042
Marumbi
20.0
Copel
80.0
2012
2014
2042
TSLE
51.0
CEEE
49.0
2012
2013
2042
ESBR Participações
20.0
SUEZ
60.0
CHESF
20.0
2009
2013
2043
Neoenergia
50.6
Furnas
24.7
2011
2014
2045
Teles Pires
Participações
24.7
Chuí
49.0
Rio Bravo
Investimentos
51.0
2012
2013
2047
Livramento
49.0
Rio Bravo
Investimentos
41.0
2012
2013
2047
Fundação Elos
10.0
Rio Bravo
Investimentos
51.0
2012
2013
2047
Santa Vitória do
Palmar
*
24.5
49.0
Merged on 01/11/2013
The works of projects in pre-operational stage,
expected to begin operations in 2013 and 2014,
are within the schedule for completion.
Annual And Sustainability Report Eletrosul 2012 |
233
NOTE 17 – Fixed Assets
a) Composition of fixed assets
Controlling Company
Generation
2012
Consolidated
2011
2012
2011
Fixed Assets in Service
590,156
–
996,933
–
(-) Accumulated Depreciation
(11,502)
–
(33,251)
–
Fixed Assets in progress
1,600,426
1,656,223
4,667,477
3,852,458
(-) Provision Recoverable
value of assets
(198,645)
(142,870)
(198,645)
(142,870)
1,980,435
1,513,353
5,432,514
3,709,588
42,104
36,151
42,590
36,493
(16,062)
(14,743)
(16,129)
(14,769)
5,652
4,194
5,663
4,300
31,694
25,602
32,124
26,024
2,012,129
1,538,955
5,464,638
3,735,612
Total Generation
Management
Fixed Assets in Service
(-) Accumulated Depreciation
Fixed Assets in progress
Total Management
Total net Assets
b) Financially capitalized charges
Controlling Company
2012
2011
2012
2011
138,831
120,386
317,193
229,854
(45,416)
(42,991)
(162,673)
(120,386)
93,415
77,395
154,520
109,468
Total of financial charges
(-) Transfer to Assets
Consolidated
Net effects on results
c) Depreciation rates
Consolidated
Generation
2012
2011
20.24%
19.64%
Reservoir, dam, water mains
3.40%
3.40%
Edifications, civil work and improvements
3.48%
4.13%
Machines and Equipments
3.67%
4.24%
Intangibles
6.64%
6.64%
Edifications, civil work and improvements
3.45%
4.17%
Machines and Equipments
8.40%
6.54%
Vehicles
9.78%
15.20%
Furniture and fixtures
5.12%
8.28%
Intangibles
Management
234
| Annual And Sustainability Report Eletrosul 2012
13. Financial Statements and Notes
On February 16, 2012, the National Agency of
Electric Energy (ANEEL) issued the Normative
Resolution No. 474/2012 which establishes
new depreciation rates for assets in service
granted by the Electricity Sector. The Company
adopts these rates for corporate purposes, by
adequately representing the lifetime of
the assets.
d) Movement of Fixed Assets:
Year 2012:
Controlling Company
12.31.2011
Net value
12.31.2012
Additions
Write-off
Transfer
Net value
Generation
In Service
–
–
(18,755)
608,911
590,156
Accumulated
Depreciation
–
(11,899)
397
–
(11,502)
1,656,223
613,410
(59,749)
(609,458)
1,600,426
1,656,223
601,511
(78,107)
(547)
2,179,080
36,151
5,753
(405)
605
42,104
(14,743)
(1,942)
397
226
(16,062)
4,194
3,263
(11)
(1,794)
5,652
25,602
7,074
(19)
(963)
31,694
(142,870)
(84,706)
28,931
–
(198,645)
1,538,955
523,879
(49,195)
(1,510)
2,012,129
Ongoing
Total
Management
In Service
Accumulated
Depreciation
Ongoing
Total
Impairment
TOTAL
Consolidated
12.31.2011
Net value
12.31.2012
Additions
Write-off
Transfer
Net value
Generation
In Service
–
–
(18,755)
1,015,688
996,933
Accumulated
Depreciation
–
(33,648)
397
–
(33,251)
3,852,458
1,890,908
(59,749)
(1,016,140)
4,667,477
3,852,458
1,857,260
(78,107)
(452)
5,631,159
36,493
5,892
(405)
610
42,590
(14,769)
(1,983)
397
226
(16,129)
4,300
3,268
(11)
(1,894)
5,663
26,024
7,177
(19)
(1,058)
32,124
(142,870)
(84,706)
28,931
–
(198,645)
3,735,612
1,779,731
(49,195)
(1,510)
5,464,638
Ongoing
Total
Management
In Service
Accumulated
Depreciation
Ongoing
Total
Impairment
TOTAL
Annual And Sustainability Report Eletrosul 2012 |
235
Year 2011:
Controlling Company
12.31.2010
Net value
12.31.2011
Additions
Write-off
Transfer
Net value
Generation
Ongoing
Total
1.159.297
581.432
(85.035)
529
1.656.223
1.159.297
581.432
(85.035)
529
1.656.223
35.327
-
(103)
927
36.151
(12.647)
(2.191)
62
33
(14.743)
1.958
4.684
(6)
(2.442)
4.194
24.638
2.493
(47)
(1.482)
25.602
(135.138)
(35.206)
27.474
-
(142.870)
1.048.797
548.719
(57.608)
(953)
1.538.955
Management
In Service
Accumulated
Depreciation
Ongoing
Total
Impairment
TOTAL
Consolidated
12.31.2010
12.31.2011
Net value
Additions
Write-off
Transfer
Net value
2.260.495
1.676.481
(85.047)
529
3.852.458
2.260.495
1.676.481
(85.047)
529
3.852.458
35.486
198
(103)
912
36.493
(12.647)
(2.217)
62
33
(14.769)
1.958
2.960
(6)
(612)
4.300
24.797
941
(47)
333
26.024
(135.138)
(35.206)
27.474
-
(142.870)
2.150.154
1.642.216
(57.620)
862
3.735.612
Generation
Ongoing
Total
Management
In Service
Accumulated
Depreciation
Ongoing
Total
Impairment
TOTAL
The main additions to the fixed assets
consolidated basically refer to investments
made in the period in plants Passo São João,
São Domingos, Jirau, Maua and Teles Pires.
electricity, are tied to these public services, may
not be removed, sold, assigned or mortgaged
without the prior written consent of the
agency of the granting entity.
e) Unavailability of assets
ANEEL Resolution No. 20/99 regulates the
removal of assets from the Public Service of
Electric Energy, granting prior authorization
for the disassociation of assets, use to the
concession, when intended for disposal, still,
In accordance with Articles 63 and 64 of
Decree No. 41019, dated February 26, 1957, the
assets and facilities used in the production,
transmission, and distribution and sale of
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| Annual And Sustainability Report Eletrosul 2012
13. Financial Statements and Notes
that the proceeds from the sale are deposited
into a linked bank account, to be reinvested in
the concession.
and timeliness of the service provided, will
have the parcel not depreciated or amortized
compensated the end of the concession.
f) Reversion of assets
related to the concession
With the signing of the contract amendment
to the concession contract No. 57/2001 on
December 4, 2012, the Company accepted the
conditions of early renewal of the concessions
in the Law 12.783/13, transferring all assets
associated with that contract to the Union,
under the Company’s management.
At the conclusion of the concession
agreements, all assets and facilities connected
to the power plants will integrate the assets of
the Union. Additional investments to the basic
project, performed to ensure the continuity
NOTE 18 – Intangible Assets
Controlling Company
2012
Consolidated
2011
2012
2011
Intagible
4,252
4,252
4,530
4,443
Use of public assets
25,636
21,200
67,996
58,416
Intagible Concession rights
113,319
113,319
261,385
261,485
–
–
(33,855)
(33,855)
143,207
138,771
300,056
290,489
(3,708)
(3,426)
(3,815)
(3,488)
(35)
–
(35)
–
(58,785)
(56,325)
(67,953)
(59,016)
(62,528)
(59,751)
(71,803)
(62,504)
2,595
775
2,595
775
83,274
79,795
230,848
228,760
Softwares
Adjustment of
recuperable amount
(-) Accumulated amortization
Softwares
Use of public assets
Intagible Concession rights
20%
Current Intangible
Softwares
Total Intagible
Annual And Sustainability Report Eletrosul 2012 |
237
The movements of intangible assets:
Controlling Company
Use of public
assets
Goodwill
from the
expectations of
future income
Adjustment of
recuperable
amount
Total
1,701
18,060
77,080
–
96,841
221
3,140
–
–
3,361
–
–
–
–
–
Amortization
(321)
–
(20,086)
–
(20,407)
Balance on 12.31.2011
1,601
21,200
56,994
–
79,795
Additions
1,820
4,436
–
–
6,256
Amortization
(282)
(35)
(2,460)
–
(2,777)
Balance on 12.31.2012
3,139
25,601
54,534
–
83,274
Adjustment of
recuperable
amount
Total
Softwares
Balance on 12.31.2010
Additions
Write-off Disposal
Consolidated
Use of public
assets
Goodwill
from the
expectations of
future income
2,717
35,868
79,898
–
118,483
383
22,548
145,668
(33,855)
134,744
(1,016)
–
–
–
(1,016)
Amortization
(354)
–
(23,097)
–
(23,451)
Balance on 12.31.2011
1,730
58,416
202,469
(33,855)
228,760
Additions
2,072
9,580
–
–
11,652
Amortization
(492)
(35)
(9,037)
–
(9,564)
Balance on 12.31.2012
3,310
67,961
193,432
(33,855)
230,848
Softwares
Balance on 12.31.2010
Additions
Write-off Disposal
The premiums paid on acquisitions of
controlled companies have been defined based
on the present value of projected future cash
flows estimated from economic-financial
evaluations, and resulted from the acquisition
of the concession granted by ANEEL to the use
of the electric transmission system.
The recorded value of premium relates to the
acquisition of equity interest in SC Energy on
February 11, 2009, Artemis on August 11, 2011, in
238
| Annual And Sustainability Report Eletrosul 2012
Uirapuru on August 11, 2011 and the Porto Velho
on November 12, 2010. The premium has finite
useful life and is being amortized over the
concession period.
According to the Technical Guidance OCPC 05,
the concession contracts of the power plants
are recognized in fixed assets the values
related to the use of public property arising
from concession of onerous contracts with the
Union stated at amortized cost and updated as
13. Financial Statements and Notes
provided by contracts. Thus, the Company and
its controlled companies recorded the usage
records of public good, which were discounted
at weighted average cost of capital. The values
are disclosed in note 27.
NOTE 19 – Recoverable Valeu of
Assets (Impairment)
The Company and its controlled companies
annually test the recoverability for intangible
assets, which are basically the portion of the
premium for expected future results of the
processes of the business combination, based
on the present value of cash flows.
For non-financial assets of long term, are
annually reviewed or whenever there
are indications that the carrying value
is not recoverable.
The Company held on December 31, 2012 and
2011, individual assessment of all its cash
generating units (CGU), including units that
are in the pre-operational stage and projects
of implementation of new business, in the
matters impairment.
The recoverable amount from a CGU is
determined based on calculations of the
value in use, using projected cash flows, after
income tax and social contribution, based on
financial budgets approved by management.
a) Main assumptions adopted:
2012
2011
Discount rate “after-tax” – Generation
4.98%
5.49%
Discount rate "after-tax" – Transmission
4.73%
5.28%
BRL 135,00
BRL 155,00
Price per MWh generated in the PCHs
Price of energy generated in the HPP's
Updated value of contract prices in
effect in the regulated environment.
Sector charges and taxes
Legal fees on the amount of revenue.
Personnel, Materials, Services and Other
Financial budget determined by
Cash Generating Unit (CGU)
Deadlines of Cash Flow
Deadlines for concessions and / or permits
b) Fixed Assets Impairment Test:
Small Hydropowers – PCH
The Company recognized on December 31, 2012
impairment charges in the amount of
BRL 44,377,000.00 for UGC João Borges
and BRL 44,329,000.00 for UGC Rio Chapeu.
Were still recognized impairment charges
due to discontinuity of PCHs Pinheiro projects,
BRL 3,829 million and Itararé PCH amounting
to BRL 4,256 million. The Company reassessed
the project implementation of PCH Santo
Cristo and was recognized reversal of
impairment charges recognized in 2011
amounting to BRL 8,035,000.00.
Hydroelectric Power Plants – UHEs
No indication was found of in the impairment
of the cash generating units of generation
projects of Plants Maua and São Domingos.
For UGC UHE Passo São João, was recognized
an adjustment to reduce the provision for
impairment of BRL 3.464 million, recorded as
reversal of impairment expenses.
Annual And Sustainability Report Eletrosul 2012 |
239
c) Financial Assets Impairment Tests
On December 31, 2012, were recognized
impairment expenses of financial assets in
the CGU transmission line Presidente Médice –
Santa Cruz in the amounts of BRL 27.117 million
and substation Missoes amounting to
BRL 4.998 million.
d) Intangible Assets Impairment Tests
(Premium)
On December 31, 2012 and 2011, the Company
performed impairment tests for its investment
in Artemis, having calculated and recognized
in resulting year 2011, depreciation in the
amount of BRL 33.855 million, resulting from
the difference between future cash flows
discounted at present value and the total
value of the investment after the completion
of the business combination, recognized
directly in the income statement. In 2012,
there was no need to recognize additional
impairment, pursuant to CPC 04, is not
allowed reversal of the reserve, the remaining
amount recorded in 2011.
NOTE 20 – Suppliers
Controlling Company
Suppliers
2011
2012
2011
55,912
97,060
195,962
312,536
1,079
–
1,079
–
Energy supply
13,549
12,486
13,549
12,486
Adjust to recoverable amount
70,540
109,546
210,590
325,022
143,207
138,771
300,056
290,489
Material and Services
Power grid charges
240
2012
Consolidated
| Annual And Sustainability Report Eletrosul 2012
49,268
19,225
165,988
165,988
3,607
5,438
14,494
14,538
Banco do Brasil
BRDE
BNDES
93,186
4,309
5,366
83
Financial Institutions
Eletrobras
Related parties
National Currency
–
–
28
BNDES
44
–
–
16
–
Current
BRDE
Financial Institutions
Eletrobras
Related parties
Foreign Currency
Charges
1,852,407
1,816,576
200,408
649,851
23,231
943,086
35,831
–
–
35,831
NonCurrent
12.31.2012
115
6,171
5,892
17,643
17,697
702,726
225,071
1,997,058
2,032,933
5,465
27,623
1,041,638
54
34
28
35,875
20
–
Charges
16
35,831
Total
Controlling Company
131,711
131,711
27,461
34,400
4,227
65,623
–
–
–
–
Current
1,692,082
1,659,723
202,974
550,023
27,135
879,591
32,359
–
–
32,359
NonCurrent
12.31.2011
1,841,490
1,809,077
236,327
590,594
31,477
950,679
32,413
34
20
32,359
Total
13. Financial Statements and Notes
NOTE 21 – Loans and Financings
a) Composition
Annual And Sustainability Report Eletrosul 2012 |
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| Annual And Sustainability Report Eletrosul 2012
8,901
298,471
19,225
12,250
–
–
–
–
432,033
435,625
28,828
6,323
368
885
637
597
169
43,784
43,942
Banrisul
Caixa
Bradesco BBI
Itaú BBA
BNB
Banco do Brasil
BNDES
BRDE
611
Financial Institutions
Eletrobras
Related parties
93,186
3,592
158
5,366
2,544
72
BNDES
National Currency
1,048
–
86
–
Current
BRDE
Financial Institutions
Eletrobras
Related parties
Foreign Currency
Charges
4,566,505
4,512,581
42,476
169,796
181,256
252,607
–
453,015
2,422,664
47,681
943,086
53,924
12,508
5,585
35,831
NonCurrent
12.31.2012
169
57,674
667
16,246
5,892
–
–
–
–
–
28,270
28,439
57,193
2,749,963
478,563
12,618
253,492
181,893
170,393
42,645
4,988,398
5,046,072
5,465
79
15,124
1,041,638
90
Charges
6,719
35,831
Total
Consolidated
237,464
234,349
–
–
–
–
–
27,461
132,437
8,828
65,623
3,115
2,191
924
–
Current
3,639,933
3,588,760
34,922
124,061
132,334
183,797
386,771
1,791,057
56,227
879,591
51,173
12,962
5,852
32,359
NonCurrent
12.31.2011
3,905,836
3,851,379
34,922
124,061
132,334
183,797
–
420,124
1,939,740
65,722
950,679
54,457
15,232
6,866
32,359
Total
Balance on 12.31.2012
Amortization/payments
Transfer
14,494
(124,177)
–
1,756
122,557
Charges provision
Monetary Variation, from exchange
and foreign exchange
(3,285)
–
17,643
(104,861)
–
Refinements
Admission
Balance on 12.31.2011
Amortization/payments
Transfer
2,659
112,390
Charges provision
Monetary Variation, from exchange
and foreign exchange
(3,654)
–
11,109
Refinements
Admission
Balance on 12.31.2010
Charges
165,988
(102,754)
135,679
1,432
–
(80)
–
131,711
(73,164)
126,428
1,308
–
222
–
76,917
Principal
Current
180,482
(226,931)
135,679
3,188
122,557
(3,365)
–
149,354
(178,025)
126,428
3,967
112,390
(3,432)
–
88,026
Total
National Currency
1,816,576
–
(135,679)
34,838
11,647
4,620
241,427
1,659,723
–
(126,428)
35,257
1,688
5,238
357,646
1,386,322
Principal
NonCurrent
44
(2,123)
–
4,727
2,113
(4,727)
–
54
(1,912)
–
4,540
1,908
(4,541)
–
59
Charges
Controlling Company
–
–
–
–
–
–
–
–
–
–
–
–
–
–
Principal
Current
44
(2,123)
–
4,727
2,113
(4,727)
–
54
(1,912)
–
4,540
1,908
(4,541)
–
59
Total
Foreign Currency
35,831
–
–
–
–
3,472
–
32,359
–
–
–
–
2,735
7,722
21,902
Principal
NonCurrent
13. Financial Statements and Notes
b) Movement and balance of loans and financings:
Annual And Sustainability Report Eletrosul 2012 |
243
244
| Annual And Sustainability Report Eletrosul 2012
43,784
(180,562)
Amortization/payments
Balance on 12.31.2012
(100,973)
Transfer
1,967
297,722
Charges provision
Monetary Variation, from exchange
and foreign exchange
(3,285)
645
Refinements
Admission
28,270
(133,719)
Amortization/payments
Balance on 12.31.2011
(71,979)
Transfer
2,829
211,568
Charges provision
Monetary Variation, from exchange
and foreign exchange
(3,654)
–
23,225
Refinements
Admission
Balance on 12.31.2010
Charges
432,033
(214,841)
213,188
1,432
–
(80)
197,985
234,349
(100,682)
166,560
1,308
–
222
60,739
106,202
Principal
Current
475,817
(395,403)
112,215
3,399
297,722
(3,365)
198,630
262,619
(234,401)
94,581
4,137
211,568
(3,432)
60,739
129,427
Total
National Currency
4,512,581
–
(112,215)
34,838
21,937
4,620
974,641
3,588,760
–
(94,581)
35,257
17,482
5,238
1,210,648
2,414,716
Principal
NonCurrent
158
(3,837)
–
4,727
3,826
(4,727)
–
169
(3,524)
67
4,540
3,503
(4,541)
–
124
Charges
Consolidated
3,592
(3,315)
3,308
484
–
–
–
3,115
(2,597)
4,234
66
–
–
–
1,412
Principal
Current
3,750
(7,152)
3,308
5,211
3,826
(4,727)
–
3,284
(6,121)
4,301
4,606
3,503
(4,541)
–
1,536
Total
Foreign Currency
53,924
–
(3,308)
2,587
–
3,472
–
51,173
–
(4,301)
1,847
–
2,735
19,321
31,571
Principal
NonCurrent
13. Financial Statements and Notes
c) Long-term maturities:
Controlling Company
Controlling Company
2012
2011
2012
2011
2014
219,238
149,127
432,819
306,396
2015
182,405
144,801
391,468
279,030
2016
152,427
144,801
360,126
279,030
2017
149,510
136,048
507,698
270,277
2018
148,688
133,131
331,066
267,360
After 2018
1,000,139
984,174
2,543,327
2,237,840
Total Non-Current
1,852,407
1,692,082
4,566,504
3,639,933
Year
Annual And Sustainability Report Eletrosul 2012 |
245
246
| Annual And Sustainability Report Eletrosul 2012
Euros
Reais
Reais
Reais
Reais
Reais
Reais
Eletrobras
Eletrobras
Eletrobras
Eletrobras
Eletrobras/FFC
BNDES/Banco do Brasil
BNDES/Banco do Brasil
Reais
Reais
Eletrobras/ RGR
BNDES/Banco do Brasil
Reais
Eletrobras/ RGR
Reais
Reais
Eletrobras/ RGR
BNDES/Banco do Brasil
Reais
Currency
Eletrobras/ RGR
Creditor
CONTROLLER COMPANY
16/04/2009
27/03/2007
27/03/2007
31/10/2006
17/08/2011
19/12/2012
04/03/2010
01/11/2009
01/07/2009
14/03/2011
20/11/2008
04/08/2006
12/01/2006
Date
Signature
Implementation UHE Mauá
Implementation of Substation Nova Santa Rita
Extension B Substation Caxias
Extension Substation Caxias 5
Acquisition of Artemis e Uirapuru
Reversion of dividends to Eletrobrás related to
2011-year; Discharge of debit service of 12/2012;
release of resources to aplication with SPE's.
Transmission Work Program
Debit repricing (ECF 2626, ECF 2692 e ECF 2727)
Complex São Bernardo PCHs
Reluz Novo Hamburgo RS
Implementation of SE Joinville Norte
Lightning e Climate system of Head Office Building
Energy reinforcement Island - Continent
Objective
TJLP + 2,13 a.a.
TJLP + 3,8% a.a
TJLP + 3,8% a.a
TJLP + 3,5% a.a
7% a.a. + IPCA
0,5% a.a. + SELIC
7% a.a. + IPCA
15/01/2028
15/04/2013
15/04/2013
15/04/2013
28/02/2024
20/04/2015
30/09/2021
30/03/2030
30/12/2038
Currency Translation +
2,2% a.a.
7% a.a. + IPCA
30/11/2017
30/03/2016
30/01/2013
30/08/19
Maturity
Contract
6,5% a.a.
7,0% a.a
6,50% a.a
7,0% a.a
Interest
d
b
b
b
a
a
a
a
a
a
a
a
a
Guarantees
Balance on
185,439
2,465
1,112
818
179,553
106,107
90,525
516,109
35,832
4,933
39,131
55
105,224
12.31.2012
d) Contractual terms of the financing of the Company:
Continues...
Reais
Reais
Reais
BNDES
BNDES
BNDES
Reais
BNDES
Reais
Reais
BNDES/BRDE
BNDES
Reais
BNDES/Banco do Brasil
Reais
Reais
BNDES/Banco do Brasil
BNDES
Reais
BNDES/Banco do Brasil
10/03/2011
16/04/2009
20/06/2012
04/03/2008
23/12/2008
24/05/2006
26/05/2006
26/05/2006
01/03/2011
01/03/2011
15/05/2019
80% = TJLP + 4,0%
a.a
20% =
Basket of Currencies +
4% a.a
Implementation Line 525 kV Campos Novos –
Blumenau
Implementation UHE São Domingos
Implementation UHE Mauá
Implementation of UHE Passo São João
Implementation of UHE Passo São João
TJLP + 1,72 a.a.
TJLP + 1,81 a.a.
TJLP + 1,91% a.a.
TJLP + 1,91% a.a
15/06/2028
15/01/2028
15/07/2026
15/07/2026
15/03/2021
15/05/2019
80% = TJLP + 4,5% a.a
20% = Basket of
Currencies + 4,5% a.a
Implementation Line 525 kV Campos Novos Blumenau
TJLP + 2,12% a.a
15/05/2019
80% = TJLP + 4,5% a.a
20% = Basket of
Currencies + 4,5% a.a
Implementation Line 525 kV Campos Novos Blumenau
Extension of transmission line Campos Novos Blumenau
15/03/2021
5,5% a.a.
Comercial Credit Notes - Substation Biguaçú
Extension F
15/03/2021
5,5% a.a.
Comercial Credit Notes - Substation Biguaçú
Extension D
222,048
2,032,933
Total
185,283
14,701
177,880
46,860
55,982
27,639
27,686
2,158
5,393
c
d
c
c
e
e
e
e
b
b
13. Financial Statements and Notes
...continuation
Annual And Sustainability Report Eletrosul 2012 |
247
Guarantees of the Company
(a) Own revenue, supported by proxy for
receipt of amounts due and unpaid;
(b) Pledge agreement of duplicates, due at
a period of 180 days, not exceeding the
expiration of this contract and covering
at least 130% of the debt resulting from
this funding;
(c) Eletrobras Surety;
248
| Annual And Sustainability Report Eletrosul 2012
(d) Eletrobras Surety, with the
transfer and linking of revenues;
(e) Pledge of shares.
As shown on the item “g” of this note, Eletrosul
Centrais Elétricas S/A understand that in
December 31, 2012 and 2011, in addition to the
financial covenants, is in compliance with all other
covenants required by the financing contracts.
04/03/2011
Annual And Sustainability Report Eletrosul 2012 |
09/11/2010
19/07/2012
29/06/2009
Implementation LT Porto Velho (RO) - Araraquara 2 (SP)
Implementation Usina Eólica
Implementation UHE Jirau (RO)
Implementation UHE Jirau (RO)
Implementation UHE Jirau (RO)
Implementation UHE Jirau (RO)
Implementation UHE Jirau (RO)
Implementation UHE Jirau (RO)
Work Financing SE Coletora Porto Velho
TJLP + 2,65%
112% of CDI rate
TJLP + 2,65%
TJLP + 2,65%
TJLP + 2,65%
TJLP + 2,65%
TJLP + 2,65%
TJLP + 2,08%
IPCA/TJLP + 2,12% a.a.
TJLP + 2,12%
TJLP + 2,12%
SE Caxias 6, SE Ijuí 2, SE Nova Petrópolis 2 e SE
Lajeado Grande
SE Foz de Chapecó
TJLP + 3,00%
4,5% a.a.
4,5% a.a.
Implementation of transmission line 525 kV,
Campos Novos (SC) - Nova Santa Rita (RS)
Windmills Construction
Windmills Construction
4,5% a.a.
Basket of Currencies
+ 4,5% a.a.
Implantation of transmission line 535 kV, Ivaporã
(PR) - Londrina (PR)
Windmills Construction
TJLP + 4,50%
Basket of Currencies +
4,0% a.a. TJLP + 4,0% a.a.
Basket of Currencies +
4,0% a.a.
Implantation of transmission line 535 kV, Ivaporã
(PR) - Londrina (PR)
Implementation of transmission line 230 kV, Lagoa
Vermelha (RS) - Santa Marta (RS)
Implementation of transmission line 535 kV,
Ivaiporã (PR) - Cascavel do Oeste (PR)
TJLP + 4,0%
Implementation of transmission line 535 kV, Salto
Santiago (PR) - Ivaiporã (PR)
Interest
TJLP + 2,4%
Objective
Implementation UHE Teles Pires (MT)
Balances refer to ratio of Eletrosul participation
Reais
*
BNDES
29/06/2009
Reais
Reais
BNB
Reais
ITAU BBA
Banrisul
29/06/2009
Reais
Bradesco BBI
29/06/2009
29/06/2009
29/06/2009
Reais
Reais
BNDES
Reais
Reais
BNDES
30/04/2012
Banco do Brasil
Reais
BNDES
04/04/2012
07/05/2008
25/06/2010
25/06/2010
25/06/2010
15/10/2006
15/10/2006
30/08/2005
20/12/2005
05/08/2005
20/12/2011
Date
Signature
CEF
Reais
BNDES
Reais
BNDES/Banco
do Brasil
Reais
Dolar
BRDE
BNDES
Reais
BRDE
Reais
Reais
BNDES
BNDES/Banco
do Brasil
Dolar
BNDES
Reais
Reais
BNDES
BNDES/Banco
do Brasil
Reais
Currency
BNDES
Creditor
AFFILIAT
29/09/2028
01/01/2013
01/01/2033
01/01/2033
01/01/2033
01/01/2033
01/01/2033
01/01/2033
15/08/2028
01/03/2027
01/03/2027
01/01/2021
01/07/2020
01/07/2020
01/07/2020
15/03/2019
15/03/2019
15/01/2018
15/10/2018
15/10/2018
15/06/2036
Maturity
Contract
Balance on
222,489
3,013,138
Total
12,618
42,645
170,393
181,893
253,492
253,492
907,095
302,006
5,067
30,899
101,508
71,492
71,492
70,063
6,701
29,571
9,825
15,096
68,921
186,380
12.31.2012
a, b, c, d, e
m
a, b, c, d, e
a, b, c, d, e
a, b, c, d, e
a, b, c, d, e
a, b, c, d, e
a, b, c, d, e
j
n
n
f
i
i
i
k
k
g, h
k
k
l
Guarantees
13. Financial Statements and Notes
e) Contractual terms of the financing of
controlled companies:
249
(i) Endorsement in part of Eletrobras
and the company’s assets in chattel
mortgage to the Bank of Brazil;
(j) Fiduciary assignment of all rights
arising from the concession that
is hold due to the Concession
Transmission nº 010/2009 – ANEEL;
(k) Pledge of the rights arising from the
concession, the security of all common
shares issued by the Company, the
collateral of the credit rights arising
from the provision of transmission
services and maintain a debt coverage
ratio - ICSD above 1.3 for the duration
of the contact;
(l) Pledge Letter issued by the
Bank of Brazil;
(m)Collateral represented by chattel
mortgage of all shares of Livramento
Holding, held by the shareholders as
the proportion of participation of each
in the share capital of the issuer;
(n) Eletrobras Pledge, fiduciary
assignment of rights arising from the
concession and credit rights of the
contract for transmission services.
Guarantees of Controlled Companies
(a) Pledge of controlled
companies’ shares;
(b) Fiduciary assignment of rights
arising from the concession and
the credit rights;
(c) Pledge of dividends and interest on
own capital;
(d) Conditional Assignment of project
contracts and guarantees of execution
(e) Fiduciary assignment of the rights
arising from the support contract and
account for insufficiency;
(f) Pledge of the rights arising from the
RS Energy Concession, pledge of credit
rights, and a pledge of common shares
owned by the Shareholders;
(g) Pledge of common shares owned by
the Shareholders of Eletrosul, Terna,
CEEE and DME. In addition to the
pledge of shares, the own revenue
of the transmission and concession
rights from ETAU were pledged as
collateral to the financing;
(h) Pledge of common shares owned by the
Stockholder Eletrosul. In addition to the
pledge of shares, receivables and one
fund tied to secure the payment of the
cost of O & M and debt payments were
established for three months;
f) Composition of the debt balance by indicator
Controlling Company
2012
2011
2012
2011
IPCA
786,187
777,538
786,187
777,538
TJLP
947,913
856,744
3,926,636
2,707,660
SELIC
106,107
–
106,107
–
35,832
32,359
57,630
51,172
–
–
12,618
–
156,894
174,849
156,894
369,466
2,032,933
1,841,490
5,046,072
3,905,836
2,018,395
1,823,793
4,757,673
3,877,397
14,538
17,697
288,399
28,439
2,032,933
1,841,490
5,046,072
3,905,836
Basket of Currencies
CDI rate
Other
Total
Principal
Charges
Total
250
Consolidated
| Annual And Sustainability Report Eletrosul 2012
13. Financial Statements and Notes
g) Index coverage of the debt
service – ICSD*
According to the table shown below, the ICSD
calculated for Eletrosul refers to the period
from June to December 2012, it shows a value
above the minimum required by the BNDES,
which is 1.3.
The index for debt service coverage is
calculated by dividing operating cash flow
by the debt service, based on information
recorded in the financial statements.
CALCULATION OF COVERAGE RATIO OF DEBIT SERVICE (ICSD)
Period: December 2012 and June 2012
A) Generation of activity cash
2,035,680
(+) Final availability in immediate previous period
210,102
(+) LAJIDA (EBITDA)
370,578
(+) Net profit
65,833
(+) Net financial expense (income)
163,703
(+) Provision for Income Tax and Social Contribuition
(306,046)
(+) Depreciation and amortization
14,340
(+) Other net non-operational Expenses (income)
482,448
(+) Loss (profit) resulting of equity asset
(49,700)
(-) Income Tax
225,601
(-) Social Contribuition
80,445
(+/-) Working capital variation
1,148,954
(+)Needed of Working capital on period t
1,442,518
(+) Current assets minus availability
1,912,683
(-) Current liability minus loans, financing, short-term
debenture and advanced for futural capital increase
(-)Needed of Working capital on period t-1
293,564
(+) Current assets minus availability
648,961
(-) Current liability minus loans, financing, short-term
debenture and advanced for futural capital increase
B) Debit Service
355,397
229,053
(+) Amortization of principal
102,754
(+) Payment of interest
126,299
C) Coverage ratio of debit service A/B
Target
*
470,165
8.9
Equal to or greater than 1.3
Information not audited by independent auditors.
Annual And Sustainability Report Eletrosul 2012 |
251
NOTE 22 – Payable Taxes
Controlling Company
2012
2011
Consolidated
2012
2011
Current Liability
261
459
503
616
1,203
2,117
2,317
2,850
Special installment plan (PAES)
31,015
30,055
31,015
30,055
Social charges (Payroll)
6,579
6,490
6,891
6,871
IRPJ/CSLL/PIS/COFINS - Law 10.833/03
2,185
3,151
2,185
3,360
18
–
3,076
2,806
–
–
8,879
7,816
41
47
41
796
4,027
4,005
8,863
6,133
45,329
46,324
63,770
61,303
109,762
136,476
109,762
136,476
109,762
136,476
109,762
136,476
155,091
182,800
173,532
197,779
PIS
COFINS
Social Contribuition
Income Tax
ICMS
Other tributes and contributions
Non-Current Liability
Special installment plan (PAES)
a) Changes in the amounts owed to PAES
is shown below:
Controlling Company
Closing balance of previous period
Monetary Restatement
Payment done
Adjustment of present value (AVP)
Balance ending period
Current
Non-Current
2012
2011
2012
2011
166,531
184,260
166,531
184,260
5,559
6,911
5,559
6,911
(31,158)
(29,663)
(31,158)
(29,663)
(155)
5,023
(155)
5,023
140,777
166,531
140,777
166,531
31,015
30,055
31,015
30,055
109,762
136,476
109,762
136,476
The amount of BRL 140.777 million refers to the
balance at December 31, 2012 (BRL 166.531 million
in December 2011) of the Special Installment
(PAES), Law No. 10.684/03, obtained in August
2003, with the Federal Revenue in the amount of
BRL 238.717 million, to be paid in 180 months.
252
Consolidated
| Annual And Sustainability Report Eletrosul 2012
The debt in question had its origin when the
Company, for the express determination treaty
between Brazil and Paraguay and by Law No.
5.899/73, responded by passing, to distributors,
part of the energy generated by Itaipu
Hydroelectric Power Plant, and offered to
13. Financial Statements and Notes
b) Adjustment to present value
of special installment PAES
tax PIS / COFINS and PASEP only the gross
margin in the transaction (transfer value of the
purchase price less energy Itaipu), which, in
the light of the understanding of the Federal
Revenue Service, was not acceptable. Thus,
the question began to be discussed by judicial
means, resulting in unfavorable decision of
the Federal Court of the 4th region in Porto
Alegre, Rio Grande do Sul, and, consequently,
the recognition by the Company of the
aforementioned debt.
According to tax installment program, the
open amounts have been paid off in monthly
installments, which were set at the beginning of
the contract and updated by Interest Rate (TJLP),
maturing in July 2018. The present value of this
liability was calculated using projection update
debt at the rate of 5.50% per year, discounted
to present value at a discount rate of 4.73% per
year. Having joined the program, the Company
is required to pay regular installments.
Controlling company
and consolidated
Special installment plan PAES
Nominal value of parcelling
(-) Adjustment of present value
Net Value
c) The original amount of the debts
included in PAES, differentiated by
type of tax and Nature (principal and
interest), can be seen below:
PIS
COFINS
Parcelling
Interest
Total of initial parcelling
2012
2011
144,587
170,185
(3,810)
(3,654)
140,777
166,531
According to art. 15 of Law No. 11.941/2009,
which established the Transitional Tax Regime
(“RTT”) for determination of taxable income,
the Company and its Controlled Companies
considered the RTT option applicable to 20082009, by sending the Declaration of Income
Tax 2009 relating to the 2008 calendar year.
From the calendar year 2010, the RTT adoption
became mandatory.
29,774
134,880
917
73,146
238,717
NOTE 23 – Estimated Obligations
Controlling Company
Consolidated
2012
2011
2012
2011
33,170
29,918
33,687
30,155
Social Contribuition
–
–
1,553
295
Income Tax
–
–
5,429
1,620
Provision construction phase Northern Brazil
–
–
174,481
–
31,772
33,470
31,772
33,470
–
–
438
34
64,942
63,388
247,360
65,574
Provision of labor and social charges
Profit sharing
Other
Annual And Sustainability Report Eletrosul 2012 |
253
The amount of BRL 174.481 million, under
the heading “Provisions construction Northern Brazil” in the consolidated, refers to
commitments contracted but not yet billed,
that are linked to completion of pending
completion of constructions on the SPE North
Brazil Transmitter of Energy S/A. The services
were provided and are recorded based on
physical measurements made by contract
terms, leaving the receipt of the supplier’s
receipts / invoices.
NOTE 24 – Onerous Contracts
The amount provided in respect of onerous
contracts is presented below:
Consolidated
12.31.2012
Plant
UHE Jirau (a)
Period
Total values*
Period
2013-2032
896,494
–
UHE São Domingos (b)
2013
13,930
2012
UHE Mauá - Klabin (c)
2013-2016
48,576
–
–
4,857
–
–
–
2012
311
UHE Passo São João
–
–
2012
2,047
959,000
7,215
2012 prices
a) Purchase of energy
of the controlled companies
Eletrosul holds contracts of purchase and sale
of energy signed with its joint company, the
Sustainable Energy of Brazil S/A (UHE Jirau),
having been granted to the financing agent
of the respective project, Banco Nacional de
Desenvolvimento Economico e Social (BNDES),
the acquisition by Eletrosul, energy not
marketed in Regulated Contracting Environment
(“ACR”) by the enterprise in proportion to their
shareholding, for the duration of the financing
agreement (contract of 2012), with an average
value of acquisition based on the signed
contract is approximately BRL 152.00 per MWh.
The provision for onerous contract
contemplates the valuation at present value,
the discount rate of 4.98% per year (rate
“WACC”), of the purchase obligation based on
the contractual sale prices, and the sale of the
same amount, by Eletrosul, with reference to
the price of BRL 67.00 / MWh, calculated based
on the PLD historical average of the last ten
years, for accounting purposes only.
254
Total values
UHE Mauá
Total
*
12.31.2011
| Annual And Sustainability Report Eletrosul 2012
It was also computed in the forecast the future
benefit under the contract at the rate of 20%,
meaning that the participation of Eletrosul
in the estimated result of this agreement to
be determined by the ESRB due to the PPA
(powerpurchaseagreemet). The result was
brought to present value using the same
discount rate earlier mentioned, and which
resulted in the recognition in 2012 of the
provision for losses on onerous contract
in the amount of BRL 896,494.00.
Despite being established and recognized in
the balance, the provision for onerous contract
for the PPA (powerpurchaseagreement) signed
with the Sustainable Energy of Brazil will
provide the Company the benefit of dividends
that will be generated in the future.
b) Purchase of energy to
supply the UHE São Domingos
In the light of delay in commercial operation
of UHE São Domingos the Company expects
to purchase energy to meet the ballast of the
agreements in the Regulated Contracting
13. Financial Statements and Notes
NOTE 25 – Risk Provisions
Environment (ACR “), the amount provisioned
in the balance of 2012 is BRL 13.93 million.
The Company and its controlled companies
are subject to certain risks, represented by tax
lawsuits and labor and civil claims in the judicial
sphere with various trial stages. The classification
process is performed according to the expectations
of loss as probable, possible or remote.
c) Reimbursement of energy Klabin
The Company has provisioned for
compensation for the energy company Klabin
S/A. for the loss of the generation that will
occur in Hydroelectric Company Salto Maua for
the period 2012-2016, due to the formation of
Maua HPP reservoir. On December 31, 2012 the
reserve was BRL 48.576 million.
25.1 Provisioned Lawsuits
The provisions shown below, whose unfavorable
outcomes for the company are considered
probable, are recognized in the financial
statements and are based on the opinion
of the Company’s legal department.
The provision was made based on the estimated
total cost of purchasing power for compensation
to Klabim S/A. for the period 2013-2016.
Controlling Company
2012
Consolidated
2011
2012
2011
Non-Current Liability
Labor
Hazardous activities
6,786
6,173
6,786
6,173
Overtime
1,006
804
1,006
804
Salary reframe work
25,773
12,776
25,773
12,776
Indemnifications for moral/
material damages
2,607
1,195
2,607
1,195
FGTS/Deficient inflation
adjustments
339
386
339
386
Joint liability/Fund RCT
14,480
13,041
14,480
13,041
Differences Benefits ELOS
4,044
4,080
4,044
4,080
Other
17,219
24,764
17,219
24,764
(24,679)
(31,057)
(24,679)
(31,057)
47,575
32,162
47,575
32,162
26,295
21,037
26,383
21,125
(527)
(1,099)
(527)
(1,099)
25,768
19,938
25,856
20,026
47,616
5,154
47,616
5,376
-
-
49,614
-
(593)
(5,019)
(593)
(5,019)
47,023
135
96,637
357
120,366
52,235
170,068
52,545
Deposits linked to litigation
Civel
Indemnities
Deposits linked to litigation
Tax
Notices
ICMS - ESBR
Deposits linked to litigation
Annual And Sustainability Report Eletrosul 2012 |
255
The values of BRL 24,679,000.00, BRL
527,000,000.00 and BRL 593,000,000.00 (BRL
30,057,000.00, BRL 1,099,000.00 and BRL
5,019,000.00 in December 2011) presented in the
table above under “linked deposits for litigation,”
correspond to judicial deposits linked to labor,
civil and tax, being shown as a reduction in
provisions, in accordance with CPC 25.
on a timely manner in August 16, 2012
and September 25, 2012, filed appeals at
the administrative level to the Council of
Administrative Tax Appeals - CARF, which
greeted promptly on September 28, 2012
pending appeal manifestation PGFN since
January 15, 2013, and which will later be
distributed to the bench for judgement.
Of the value of BRL 17,219,000.00 (BRL
24,764,000.00 in December 2011) shown under
“other”, BRL 13,870,000.00 (BRL 19,489,000.00
in December 2011) refers to pending judicial
deposits of permits of several processes.
The Company’s management, grounded
on the opinion of its internal legal counsel,
chose to acknowledge the provision of the tax
assessment of the Federal Revenue of Brazil ‘s
Balance Sheet. The Company believes that the
amount provided is considered adequate to
cover probable losses on these issues.
Of the value of BRL 47,616,000.00 (BRL
5,554,000.00 in December 2011) shown under
“notifications”, BRL 46,430,000.00 related
assessment of social security contributions on
the PREQ covering the period of 2006 to 2009.
This assessment had its origin on October 17,
2010 when the Federal Revenue of Brazil
issued infraction notice complaining that
the PREQ is not characterized as severance
plan and consequently social security
contributions are due.
The tax exaction in question covers the period
2006-2009. However, the Company appealed
the tax assessments ex officio requiring the
invalidation and non-subsistence of their
respective assessment notices regarding Social
Security Contributions of the Company, the
Third Party and Employees on the amount
of damages PREQ received and / or to be
received by the insured employees, as well
as those incidents for Funding of Benefits by
Employment Incapacity.
Challenges by the Company requiring the
Federal Revenue of Brazil Judgement review of
legal acts of tax, from January 18, 2011, in the
first instance were writs on June 28, 2012, as
the content of the decisions rendered by the
judgments No. 07-29406, 07-29407,
07-29725 and 07-29727, all of the 6th Bench,
whose manifestations of this Company
256
| Annual And Sustainability Report Eletrosul 2012
Under the caption “ICMS - ESRB” in the
consolidated, the amount of BRL 49,614,000.00
refers to the provision for contingency in
controlled Sustainable Energy of Brazil
concerning ICMS owed on the importing of
machinery and industrial equipment and parts
and pieces, with no similar in the country,
applied in the construction of UHE Jirau.
The effects of ICMS No. 47/2011 and Law
No. 2.538/11 RO are suspended by forces of the
injunction granted by the President the Court of
Justice of the state of Rondônia on direct action
of unconstitutionality filed by the Attorney
General of Rondônia. On September 27, 2012
Sustainable Energy of Brazil filed a Declaratory
Action, requesting a preliminary order, to obtain
confirmation of the benefit of exemption from
ICMS provided for in item 74 of Table 1 of
Annex 1 of Decree 8.321/98, awaiting
examination the merits in the first instance.
On October 16, 2012, the Federation of Industries
of the State of Rondônia (FIERO), filed a Direct
Unconstitutionality Action, requesting a
preliminary order, seeking annulment of
Decree 15.858/2011 and the immediate
restoration of the benefit of exemption
previously provided in Section 74 table 1
of Decree 8.321/98. On 11/16/2012 it was
granted an injunction suspending the
13. Financial Statements and Notes
retroactive effects of Decree 15.858/2011.
Due to the declaratory action filed in the
last quarter of 2012, the ESRB reclassified
the ICMS recorded in current liabilities for
likely contingencies as non-current, totaling
the amount of BRL 49,614,000.00 on
November 30, 2012 (base date of the
consolidation). Changes in the provision
for the year 2012 and 2011 are shown below:
Balance on December, 31 2010
76,790
Additions
33,540
Write-off
(60,549)
Monetary Restatement
2,454
Balance on December, 31 2011
52,235
Additions
77,122
Write-off
(21,626)
Monetary Restatement
1,259
Reclassification of Judicial department to the Asset (note 14)
11,376
Balance on December, 31 2012
120,366
25.2 Lawsuits of possible risk,
non provisioned
The Company records under “Provisions for
contingencies”, only the values of related judicial
deposits to provisions whose opinion of the
legal was “probable loss”, reducing provisions for
contingencies. The remaining judicial deposits,
those deemed “Possible Loss” and “Remote Loss”
are shown in non-current assets.
Contingências
25.2.1 Control Company
The Company also has actions not
provided with possible loss, as the following
distribution shows:
Controlling Company
Consolidated
2012
2011
2012
2011
Civel
63,528
56,106
63,528
56,106
Labor
12,987
13,362
24,616
24,844
956
788
21,630
20,216
77,471
70,256
109,774
101,166
Tax
Total
The amount of BRL 63,528,000.00, as shown
as civil liability, classified by legal counsel as
possible, refers to basically to processes of:
compensation in the amount of BRL 5,111,000.00,
the nullity of the bidding process in the amount
of BRL 6,222,000.00, review contract in the
amount of BRL 7,493,000.00 and cancellation of
the contract in the amount of BRL 28,652,000.00.
25.2.2 ESBR Holdings S/A
Tax Lawsuits
Refers to the collection of ISSQN tax on the
construction contract of civil works of Jirau
Hydropower Plant, signed with the supplier
Buildings and Trade Camargo Corrêa S/A,
which is accomplished by reducing the basis
for calculating the tax at 60%. Although the
Annual And Sustainability Report Eletrosul 2012 |
257
Municipal Treasury of the Municipality of Porto
Velho - RO has issued an opinion considering
valid deduction in the calculation basis of
the ISSQN tax, the existing process was not
extinct since that filed the issue; it becomes
the responsibility of the City Prosecutor. So
in controversy over the Municipal Treasury,
the 1st Court of Public Treasury issued a
sentence of Rondônia in the first instance
in favor of the Municipality of Porto Velho.
The decision is being appealed by the ESRB.
This balance, adjusted for inflation, amounts
BRL 20,674,000.00 on December 31, 2012
(BRL19,428,000.00 on December 31, 2011).
Embodied in the evolution of the
aforementioned facts and the opinion of its
internal and external attorneys, the Company
believes that the risk of loss of the cause is
possible. Thus, made a provision of the success
fees of outside attorneys, whose balance at
December 31, 2012 and December 31, 2011 is
BRL 864,000.00.
Labor Lawsuits
The Company is a defendant in 114 labor claims,
all of which are related to employees or former
employees of contractors and subcontractors
by the Company, attached as jointly liable.
These claims total an approximate amount
of BRL 11,629,000.00 on 31 of December 2012
(BRL 11,482,000.00 on December 31, 2011).
Of this amount, BRL 9,556,000.00
(BRL 7,016,000.00 on December 31, 2011) are
related to causes the risk of loss as probable
and BRL 506,000,.00 (BRL 506,000.00 on
December 31, 2011) are provisioned for being
classified as probable risks.
25.3 Administrative Proceedings
of possible risk
25.3.1 Hydroelectric Power PlantTeles Pires
Environmental Lawsuits
The Teles Pires Hydroelectric Company
controlled by TP Participações S/A is involved
in four lawsuits, having the nature of Public
Civil Action, regarding the environmental
258
| Annual And Sustainability Report Eletrosul 2012
portion of the project. Such proceedings
have prognosis of possible loss according to
management’s assessment, embodied by its
external legal counsel.
The amounts (*) presented in the table below
were set unilaterally by the public prosecutor
and are considered by the management to be
purely informative, not necessarily attributable
to the value of a possible loss.
a) Absence of the study of the
indigenous component
(No. 0005891-81.2012:4.01.3600) –
value BRL 3,600,000.00 *.
b) Absence of prior free
consultation of indigenous
peoples affected by the enterprise
(No.0003947-44.2012.4.01.3600) –
value BRL 3,600,000.00 *.
c) Irregular terms of agreement
with municipalities
(No.8006-03.2011.4.01.3603) –
value BRL 16,500,000.00 *.
d) Irregular situation regarding
the state law of Mato Grosso
(No. 0007742-83.2011.4.01.3603) –
value BRL 1,000,000.00 *.
25.4 Fiscal Administrative Proceedings
of not provisioned remote risk
25.4.1 Controller
The Company is in dispute with the
administrative-tax Brazilian Federal
Revenue Officedue to the following facts:
a) Law 8.727/93 – Renegotiated credits
with the Union –corporate income tax /
social contribution on net income
On December 17, 2010, the Brazilian Federal
Revenue Officeissued notice of violation
requiring that the system of deferral of the
taxes levied on the difference not renegotiated
loans received from the Union finds no
legal support. Their “Exatoria Fiscal Federal”
challenged the systematic gathering adopted
by the Company in the period from 2005 to
2009, notifying the taxes owed as an accrual
basis, disregarding gatherings maid effective
13. Financial Statements and Notes
by the Company during the exaction. However,
this same Federal Revenue of Brazil in 2001
sought clarification with the Company on the
system adopted, without any manifestation
against the procedure.
pursuant to article 10, section XI and Article 15
of Law 10.833/2003, c / Article 109 of Law No.
11.196/2005, such revenues are conceptualized
as “pre-determined price” and therefore remain
taxable in the cumulative regime.
Consecutivelythe Company tacitly understood
that the entity hadapproved approval of the
form of tax collection. However, the Company
challenged the tax assessment requiring the
invalidation and glibon the infringement
notification, these required taxes on financial
income arising from the fragmentation of
Law No. 8.727/1993.
Despite the National Electric Energy Agency
[Agência Nacional de Energia Elétrica] –
ANEEL not supplementingthe Company’s
taxes to non-cumulative PIS / COFINS, due
to theunderstanding that the contracts that
originate such revenues fall within the concept
of pre-determined price and also the restatement
of contracts by contractual terms does not
constitute a distortion of the pre-determined
price, according to the Technical Note No.
224/2006-SFF-ANEEL, the Brazilian Federal
Revenue Officedid not recognize the Company’s
assertions. Thus, the income from public
contractsof the electric energy transmission
service prior to October 31, 2003, which have
been taxed by cumulative PIS / COFINS in the
order of 3.65% by the Company, were required
by the Brazilian Federal Revenue Officeat the
noncumulative tax regime of 9.25%. However, the
Company challenged the tax assessment office
of glib and requiring the invalidation of the tax
assessment of PIS and COFINS.
The Company’s contesting piece requiring of
the Brazilian Federal Revenue OfficeJudging
a review of the act of tax assessment, since
January 18, 2011, was denied on June 28, 2011,
in the first instance, as content of the decision
rendered by middle of Judgment No. 07-25-226
3rd Class, whose manifestation this Company
promptly in September 2, 2011, filed an appeal
at the administrative level to the Board of Tax
Appeals - CARF. The adjusted amount on the
infringement notification on December 31, 2012
is BRL 432,485,000.
The Company Administrative Body embodied
in maintaining its legal counsel’s opinion and
external legal and tax experts consultants,
who attribute a degree of remote risk of loss
challenge, including at the judicial level,
chooses to keep the non-recognition of the
accounting provision on the infringement
notification of the Federal Revenue of Brazil to
the Balance Sheet.
b) PIS and COFINS – Contracts prior
to 31/10/2003 - non cumulative x
cumulative
On January 7, 2011, the Brazilian Federal
Revenue Officeissued a tax assessment related
to PIS / COFINS tributes, deciding that the said
taxes, in the period monitored from 2006 to
2007, should focus on revenue of the contracts
signed by 31 October 2003 by a non-cumulative
regime, unlike the cumulative regime. However,
The Company’s challenging piece requiring of
the Brazilian Federal Revenue Office Judging
reviewing craft act of tax assessment from
January 7, 2011, in the first instance, was denied
on August 10, 2011 according to the activity
of the decision by middle of Judgment No.
07-25-585 4th Class, whose manifestation this
Company promptly filed an appeal in October
17, 2011, at the administrative level to the Board
of Tax Appeals - CARF, and on November 28,
2012 the appeal filed by the Company has
been denied by the casting vote, it was been
awaiting the subpoena since January 8, 2013,
by the Brazilian Federal Revenue Office, due
to the decision of Judgment No. 3302-001896
for the purpose of bringing embargoes and /
or special appeal. The adjusted amount on the
infringement notification on December 31, 2012
is BRL 133,210,000.
Annual And Sustainability Report Eletrosul 2012 |
259
The Company Administrative Body embodied
in maintaining its legal counsel’s opinion and
external legal and tax experts consultants,
who attribute a degree of remote risk of loss
challenge, including at the judicial level,
chooses to keep the non-recognition of the
accounting provision on the infringement
notification of the Federal Revenue of Brazil to
the Balance Sheet.
NOTE 26 – Research and Development
Controlling Company
2012
2011
2012
2011
National Fund for the Development of Science and
Technology (FNDCT)
607
544
798
623
Company of Energy Research (EPE)
330
299
398
339
Estimated bonds Research and Development (R&D)
25,394
28,634
28,361
30,925
Total
26,331
29,477
29,557
31,887
Law 9991, July 2000, states that the companies
holding concession for operation of electricity
are required to invest in Research and
Development (R & D), to the technological
improvement of the activity, in an amount
equivalent to 1% of net sales, and 0.40% for
Research and Development (R & D), 0.40%
to the National Fund for Scientific and
Technological Development (FNDCT) and 0.20%
for the Energy Research Company (EPE).
NOTE 27 – Concessions To Pay –
Use Of Public Goods
The Company and its subsidiaries have
contracts with the federal granting for the
use of public property for the generation
of electrical energy in the power plants of
Passo São João, Maua and Sao Domingos and
ventures through the Specific Purpose Entities
(SPEs) in the plants of Jirau and Teles Pires.
The characteristics of business and contracts
260
Consolidated
| Annual And Sustainability Report Eletrosul 2012
indicate the status and intention of the parties
to execute them in full.
Trying to adequately reflect the assets, the
concession fee and the related obligation
to the Union, the values of the grants
were recorded as intangible assets against
noncurrent liabilities.
The values identified in the contracts are
futures prices and, therefore, the Company
adjusted these contracts to present value
based on the discount rate determined on the
date of the obligation.
The update of the obligation due to the
discount rate and the inflation adjustment
is being capitalized in assets during the
construction of the plants, and from the date
of commercial operation, recognized directly
in the results.
13. Financial Statements and Notes
Controlling Company
Use of public asset
Consolidated
2012
2011
2012
2011
Usina Passo São João
4,021
4,069
4,021
4,069
Usina Mauá (Consórcio Cruzeiro do Sul - 49%)
12,352
12,357
12,352
12,357
Usina São Domingos
9,228
4,774
9,228
4,774
Usina Jirau (SPE ESBRP - 20%)
–
–
22,436
19,888
Usina Teles Pires (SPE Teles Pires - 24,5%)
–
–
19,924
17,328
25,601
21,200
67,961
58,416
Usina Passo São João
285
–
285
–
Usina Mauá (Consórcio Cruzeiro do Sul - 49%)
854
–
854
–
Usina São Domingos
731
–
731
–
1,870
–
1,870
–
4,122
4,069
4,122
4,069
Usina Mauá (Consórcio Cruzeiro do Sul - 49%)
12,547
12,357
12,547
12,357
Usina São Domingos
9,838
4,774
9,838
4,774
Usina Jirau (SPE ESBRP - 20%)
–
–
22,436
19,888
Usina Teles Pires (SPE Teles Pires - 24,5%)
–
–
19,924
17,328
26,507
21,200
68,867
58,416
28,377
21,200
70,737
58,416
Non-Current Asset (intangible)
Current Liability
Non-Current Liability
Usina Passo São João
The UBP payments will be made in monthly
installments from the commencement of
commercial operations by the end of the
concession period, and are provided as follows:
Original Values
*
Updated Values
Plant
Payment period
Annual
Payment
Total
Payment
Usina Passo São João
04/2012 a 08/2041
200
5,944
285
8,170
Usina Mauá*
10/2012 a 07/2042
618
18,855
854
25,264
Usina São Domingos
02/2012 a 12/2037
260
6,717
730
18,250
Usina Jirau*
01/2013 a 08/2043
1,575
48,420
2,018
62,067
Usina Teles Pires*
04/2015 a 06/2046
1,351
42,223
1,387
42,997
Annual
Payment
Total
Payment
Eletrosul participation on Consortium or on SPE.
Annual And Sustainability Report Eletrosul 2012 |
261
NOTE 28 – Other Liabilities
Controlling Company
2012
2011
Consolidated
2012
2011
Current
2,440
2,120
2,453
2,017
1,376
1,287
1,376
1,287
Eletrobras Agreement
989
4,590
989
4,590
Supervisory fee - ANEEL
422
337
880
593
–
1,397
1,529
2,095
4,349
27,381
4,349
27,381
–
–
217
–
48,367
–
48,367
–
1,870
–
1,870
–
–
–
–
12,934
15,932
–
15,932
–
88,969
–
88,969
–
4,067
4,787
46,780
5,882
168,781
41,899
213,711
56,779
7,212
13,604
7,212
13,604
–
–
1,030
2,059
57
55
6,555
3,473
7,269
13,659
14,797
19,136
176,050
55,558
228,508
75,915
Indemnities / expropriation
MME-PRODEEM-Agreement n° 009/2004
Global Reserve of Reversion (RGR)
Amounts to be recovered - Copel
Pre-operating provisions
Escrow and guarantee Eletronet
Payable Concession - Use of public asset
Derivatives (note 47)
Provisioning UHE Passo São João
Provisioning UHE Mauá
Other
Non-Current
Staff Programmed Readjustment Plan
Insurance
Other
262
The value of BRL 2,440 thousandunder the
heading “Compensation / expropriation” refers
to amounts accrued for severance payments
and foreclosures in areas considered of public
interest for the construction of lines, substations
and power plants, due to the settlement of
compensation claims.
The balances under “Provisioning” concerning
UHE Passo São João, in the amount of BRL 15,932
thousand and UHE Mauá, amounting to
BRL 88,969 thousand, relate mainly to
provisions for contractual discounts with
suppliers for completion of construction
of the plants recognized in fixed assets.
The amount of BRL 7,212 thousand shown in
the noncurrent caption “Plan of Programmed
Readjustment of Workforce (PREQ)” refers to the
obligation of Eletrosul with retirees who elected
to receive the money in installments over
twelve months.
NOTE 29 – Long-Term
Obligations*
| Annual And Sustainability Report Eletrosul 2012
Eletrosul and its subsidiaries own contracts
of purchase and sale of electricity in the
regulated place and bi-lateral agreements,
as shown below.
13. Financial Statements and Notes
a) Energy and sales
Controlling Company
Sold
positions
2013
2014
2015
2016
2017
After 2017
Volume MW
1,463,620.80
1,463,620.80
1,463,620.80
1,463,620.80
1,463,620.80
33,654,518.40
159.05
159.05
159.05
159.05
159.05
159.12
232,791
232,791
232,791
232,791
232,791
5,355,266
Price MWh
Total
Consolidated
Sold
positions
2013
2014
2015
2016
2017
After 2017
Volume MW
3,308,595.41
5,853,476.09
8,049,608.04
8,278,456.06
8,273,073.50
189,242,283.65
140.37
133.42
114.82
112.95
111.71
107.15
464,440
780,978
924,229
935,011
924,179
20,277,668
Price MWh
Total
b) Purchase of energy
Controlling Company
Purchased
positions
2013
2014
2015
Volume MW
185,077.00
105,120.00
105,120.00
Price MWh
135.00
135.00
Total
24,985
14,191
2016
2017
After 2017
5,472.00
–
–
135.00
135.05
–
–
14,191
739
–
–
Consolidated
Purchased
positions
2013
2014
2015
2016
2017
After 2017
Volume MW
1,087,098.32
1,927,883.28
1,505,432.96
1,246,291.06
1,240,011.14
23,128,334.93
Price MWh
148.50
155.54
161.03
162.82
154.55
145.81
Total
161,431
299,854
242,425
202,919
191,649
3,372,272
The difference between the purchase price
and sale in the consolidated basically refers to
contracts of PPA of the JirauPlant, the effect of
this onerous contract is presented in the note 24.
*
Information not audited by independent auditors.
Annual And Sustainability Report Eletrosul 2012 |
263
NOTE 30 – Post-Employment
Benefit
a) Retirement benefit obligations
In accordance with CVM Resolution 695 of
December 13, 2012, the Company recognized
gains and losses of the programs of post-
employment benefits in the same year that
occur in “Other Comprehensive Income”,
according to the guidelines CPC 33 (R1) of
the FASB and the International Accounting
Standards IAS 19.
Obligations registered in the balance sheet
Liability
2012
Pension plan*
187,290
14,390
6,457
5,324
48,982
22,682
242,729
42,396
4,705
3,661
238,024
38,735
Medical-hospital coverage (nota 30,e)
Contracted Debit (nota 30, d)
Total of obligations registered
Current
Non-Current
2011
Income (expense) recognized in the result
Pension plan
Medical-hospital coverage
2012
2011
12,689
(1,500)
386
599
13,075
(901)
Gains (losses) recognized in other comprehensive results
2012
2011
176,862
32,900
1,384
846
178,246
33,746
Gain (Loss) actuarials of year:
Pension plan
Medical-hospital coverage
Total
Other accumulated comprehensive income (net of taxes)
Pension plan
Medical-hospital coverage
Total
b) Retirement plan and pension
The Company sponsors the Foundation Eletrosul
of Social Security (ELOS), a Closed Entity of
Pension Funds, nonprofit organization that aims
to complement basic average salary of the last
36 months of activity of the employee, in relation
to value of retirement benefits from the Official
Retirement Plan to the Defined Benefit Plan
264
| Annual And Sustainability Report Eletrosul 2012
2012
2011
12,689
(1,500)
386
599
13,075
(901)
(DB) and at January 1, 2010, became effective
the Defined Contribution Plan (DC), which was
offered as optional for employees. The DC plan
was approved by decree No. 3253 of December 23,
2009, of the Department of Pension Funds (SPC).
The Defined Contribution Plan (DC) provides
benefits similar to the previous one; however
13. Financial Statements and Notes
as a result of the conversion of reserves
accumulated during the active period, without
the wage, except where settings by actuarial
aim to hit him at the time of retirement. The
contributions are accumulated in individual
accounts of participants and sponsor and are
results from the funding plan pre established
annually by the actuary responsible for the
program which is also managed by ELOS
Foundation. At year-end 2011, of the 1,566
POPULATION DATA BD PLAN
active employees, 866 of them had already
joined the new plan, representing just over
50% of the mass of the previous plan. The one
who were already retired before the DC Plan,
remained in the BD Plan.
The sponsored plans, which are of the defined
benefit and defined contribution had on
December 31, 2012, as shown below, with the
following population profile:
2012
2011
1. Active Participant
1.1. Participant - nº
672
700
1.2. Average Age
48.3
47.0
1.3. Credited Service
19.7
18.1
1.4. Time left to retirement
11.0
13.5
8,446.83
7,760.34
511
548
60.2
59.3
5,779.06
5,418.81
43
33
51.8
54.0
2,510.61
2,293.76
1,226
1,281
1.5. Average Salary BRL
2. Retired
2.1. Retired Participant - nº
2.2. Average Age
2.3. Average Benefity BRL
3. Pensioniers
3.1. Pensioniers Participant - nº
3.2. Average Age
3.3. Average Benefity BRL
Total Population
*Source: Actuarial Report , base date October/12
As of December 15, 2000, the cost of the plan
began to be divided equally between sponsor
and employees, except the burden resulting
from the conversion of special pensions in
retirement for length of service. The sponsor’s
regular contribution for current service
coverage in 2011 was BRL 23,976 thousand
(BRL 21,578 thousand in 2011), equivalent to
the contribution of the participants.
concerning their employees. The completion
of these commitments ceases when the retiree
complete the acquisition time, the benefit
being updated by the INPC. The amount of this
commitment, for retired employees is accrued
under the title “Special retirement - SB 40”.
In 2012 this provision was supplemented by
BRL 1,053 thousand(BRL 14,321 thousand in 2011),
due to the granting of new retirees.
As provided for by Regulation Benefit Plan
Foundation, the Company is responsible for the
burden resulting from the conversion of special
pensions in retirement for length of service
Liabilities related to these programs were
estimated by independent consulting
actuaries and represent the present value
of benefits and grant recipients.
Annual And Sustainability Report Eletrosul 2012 |
265
c) Healthcare programs
Besides the pensions programs, the Company
also supports a program of medical assistance
to retired employees and their dependents
for disability through the use of physician
credentialing system, the phase that the
disability retirement benefit is in use, without
the employment with Eletrosul being ceased
during the first five years, actuarially evaluated
on the basis established by CVM
Resolution 695, of December 13, 2012.
The obligations under this program were also
calculated actuarially demonstrated in the
same report cited above.
The balance of the program of health care is
shown below:
Controlling Company
2012
2011
Current
Non-Current
total
total
Liability actuarial medical expenses
–
6,457
6,457
5,324
Total
–
6,457
6,457
5,324
d) Sponsor’s obligations
equality contributory defined in Article 21 of
the Supplementary Law No. 109 of May 29, 2001
and by the Foundation, are shown below:
The obligations of the sponsor to the
Foundation, including the complementation
to cover actuarial liabilities and respecting
Controlling Company
2012
Current
Non-Current
total
total
Special retirement - SB 40
4,647
987
5,634
12,203
Additional contribution/
registration length of service
2,989
3,173
6,162
8,731
Supplementary contribution
649
8,564
9,213
9,194
Contribution over current
generation benefity
933
27,925
28,858
27,137
Difference mathematical reserve
134
4,615
4,749
4,756
Subtotal
9,352
45,264
54,616
62,021
Normal contribution
3,806
–
3,806
3,373
–
187,290
187,290
14,390
13,158
232,554
245,712
79,784
Liability actuarial pension plan
Total
266
2011
| Annual And Sustainability Report Eletrosul 2012
13. Financial Statements and Notes
The amount of BRL 5,634 thousand under
special retirement - SB 40 relates to burden
resulting from the conversion of special
pensions in retirement for length of service
concerning their employees. The completion
of these commitments ceases when the retiree
complete the acquisition time, the benefit
being updated by the INPC.
The amount of BRL 6,162 thousand under
additional contribution refers to the particular
instrument of confession and installment
debt to cover the relisting for length of service,
signed on December 20, 1993, with settlement
in 240 monthly installments until December
2014. The amount of BRL 9,213 thousand under
further contribution refers to Mathematical
Reserve Contractor - Past Service, hired on
April 1, 2008, to be paid in 192 monthly
installments until December 2023. Both values
are updated by the INPC + 6% interest per year.
The provision of contributions by the sponsor
on the Benefits of the Current Generation of
employees enrolled in the Defined Benefit Plan,
which until December 31, 2012, migrated to the
new defined contribution plan - CD, actuarially
evaluated, amounted to BRL 28,858 thousand,
BRL 788,000 recognized in income in 2012 and
BRL 22,284 thousand in the 2011 results.
e) Actuarial calculation
of program benefits
The amounts calculated on an actuarial report
on the program separately for retirement
benefits and health care, recognized in the
balance sheet are as follows:
PENSION PLAN
2012
2011
(1,157,165)
(741,299)
920,893
726,909
Present value of surplus obligations to the fair value of assets
(236,272)
(14,390)
Liability actuarial recognized in balance
(236,272)
(14,390)
Contracted Debit - liability recognized in balance
(48,982)
(22,682)
Present value of actuarial obligations
Fair value of plan assets
MEDICAL-HOSPITAL COVERAGE
Present value of actuarial obligations
Fair value of plan assets
Present value of surplus obligations to the fair value of assets
Benefity assets - Asset Celling - IAS 19 - rule 58
Asset (Liability) Actuarial
2012
2011
(6,457)
(5,324)
–
–
(6,457)
(5,324)
–
–
(6,457)
(5,324)
Annual And Sustainability Report Eletrosul 2012 |
267
The increase in actuarial liabilities was
mainly due to changes in the discount rate, as
described in item “h” of this note.
The movement on the obligations and assets in
each year was as follows:
Pension plan
2012
2011
741.299
775.906
Current service cost
10.620
8.034
Interest over actuarial obligation
74.368
66.347
(40.520)
(35.913)
371.398
(73.075)
Present value of actuarial obligations in the end of the year
1.157.165
741.299
Fair value of assets in the beginning of the year
726.909
849.593
Paid benefits during the year
(40.520)
(35.913)
Participant contributions shed during the year
10.225
11.251
Employer contributions shed during the year
16.652
17.011
Effective assets income during the year
207.627
(115.033)
Fair value of assets in the end of the year
920.893
726.909
2012
2011
5.324
4.147
–
281
386
318
Paid benefits in the year
(637)
(268)
(Gain)/Loss over actuarial obligation
1.384
846
Present value of actuarial obligations in the end of the year
6.457
5.324
–
–
(637)
(268)
–
–
637
268
Effective assets income during the year
–
–
Fair value of assets in the end of the year
–
–
(Gain)/Loss over plan assets
–
–
Expected income of assets during the year
–
–
Value of acturial obligations in the beginning of the year
Paid benefits in the year
(Gain)/Loss over actuarial obligation
Medical-hospital coverage
Value of acturial obligations in the beginning of the year
Current service cost
Interest over actuarial obligation
Fair value of assets in the beginning of the year
Paid benefits during the year
Participant contributions shed during the year
Employer contributions shed during the year
268
| Annual And Sustainability Report Eletrosul 2012
13. Financial Statements and Notes
f) Collateral assets
The collateral benefits of the program are as follows:
ASSETS GUARANTEEING
2012
%
470,136
51.1%
Fixed income - Bank
25,491
2.8%
Variable income - Stock
19,895
2.2%
Variable income - Bank
357,768
38.9%
Real Estate
28,401
3.0%
Loans
17,021
1.8%
274
0.0%
Participant receivable contribution
1,343
0.1%
Sponsors receivable contribution
1,564
0.2%
52
0.0%
(1,052)
-0.1%
920,893
100.0%
2012
2011
Fixed income - Federal Public Bond
Avaiable assets
Other receivable assets
(-) Benefits liabilities
Total
g) Amounts recognized as results
of operations
The amounts recognized directly in the
income statement as Other Expenses (or
revenues), are shown below:
Pension plan - BD
Current service cost
10,620
8,034
Interest cost over actuarial obligations
74,368
66,347
–
–
(72,289)
(75,880)
12,699
(1,499)
2012
2011
4,146
1,313
Interest cost over actuarial obligations
–
–
Expected assets income
–
–
4,146
1,313
2012
2011
–
281
386
318
–
–
386
599
Expected participants contribution
Expected assets income
Total
Pension plan - CD
Current service cost
Total
Medical-hospital coverage
Current service cost
Interest cost over actuarial obligations
Expected assets income
Total
Annual And Sustainability Report Eletrosul 2012 |
269
h) The actuarial and financial assumptions used in the projections were:
ECONOMIC HYPOTHESIS
2012
Annual acturial real interest rate
3.49%
5.53%
Annual projected inflation rate
4.89%
4.50%
Real annual salary evolution rate
2.00%
2.00%
Real annual medical cost evolution
3.50%
1.00%
Real annual benefits evolution
0.00%
0.00%
Real annual benefits of general regime evolution
0.00%
0.00%
Factor of benefits capacity
98.00%
100.00%
Factor of salary capacity
98.00%
100.00%
3.50%
1.00%
Factor of added medical cost
ACTUARIAL HYPOTHESIS
2012
2011
Turnover rate
0.00%
0.00%
AT-2000
AT-2000
AT-83
AT-83
LIGHT F
LIGHT F
95%
95%
4 years
4 years
Assets and inactives mortality table
Void mortality table
Invalidity table
% of marriage on retirement date
Age difference between men and women
i) Employer contributions expected for
next year
Long-term interest rates
From 2012, the interest rate used was the
market for government bonds, according to
criteria recommended by the accounting
standards, terms similar to the flows of
bonds benefit program, called the concept
“Duration”. These rates were respectively
3.49% (5.53% in 2011).
The Company expects to contribute BRL 18,077
thousand to the Defined Benefit Plan.
j) Sensitivity Analysis
The effects of variation of 1 pp in assumptions
and discount rates are presented below:
Plan BD
Acturial obligation
Service cost and interest
270
2011
Medical-hospital coverage
+ 1 p.p.
- 1 p.p.
(149,836)
158,089
305
(294)
(4,753)
2,334
27
(24)
| Annual And Sustainability Report Eletrosul 2012
+ 1 p.p.
- 1 p.p.
13. Financial Statements and Notes
k) Historical adjustments by experience
The variations of the experience adjustments
between estimated and incurred in the last
four years, are presented below:
Pension plan
2009
2010
2011
2012
777,295
775,906
741,299
1,157,165
(806,719)
(849,593)
(726,909)
(920,893)
(29,424)
(73,687)
14,390
236,272
2009
2010
2011
2012
40,450
(47,434)
(23,820)
93,851
–
–
(49,255)
277,547
44,917
(35,699)
(200,427)
135,348
2009
2010
2011
2012
3,173
4,146
5,324
6,458
–
–
–
–
3,173
4,146
5,324
6,458
2009
2010
2011
2012
(869)
942
1,200
(165)
Effect of changes on discount rate
–
–
(354)
1,549
Adjustment by asset plan experience
–
–
–
–
Present value of benefits
obligation defined
Fair value of plan assets
Superavit/deficit
Adjustment by liability
plan experience
Effect of changes on discount rate
Adjustment by asset plan experience
Medical-hospital coverage
Present value of benefits
obligation defined
Fair value of plan assets
Superávit/déficit
Adjustment by liability
plan experience
Annual And Sustainability Report Eletrosul 2012 |
271
NOTE 31 – Equity
a) Social capital
On December 31, 2012, the Social Capital of
Eletrosul is BRL 3,740,410 thousand, represented
by 90,261,115 common shares without par
value. The shareholding structure of the
Company on that date is as follows:
Amount of Stock
Social Capital
% of
participation
90,136,442
3,735,244
99.8619
USIMINAS
57,901
2,398
0.0641
CEEE
49,519
2,053
0.0549
COPEL
14,195
587
0.0157
CELESC
1,544
64
0.0017
CSN
1,194
49
0.0013
320
15
0.0004
90,261,115
3,740,410
100.00
Stockholders:
ELETROBRAS
OUTROS
Total
The book value per share at December 31, 2012
was BRL 51.63 (BRL 53.80 in 2011).
b) Capital increase
On November 27, 2012, the shareholder Brazilian
Electric Power Company made a payment of
BRL 2,162,724 thousand, which corresponds to
an increase of 41,354,974 shares. The amount
contributed was previously classified in the
account of advances for future capital increase
(AFAC), within non-current liabilities, as per
note 13. The other shareholders did not exercise
their preemptive rights, according to current law.
With these changes the mutation Capital in 2012
can be presented as follows:
Social Capital
Amount of Stock
Balance on 12.31.2011
1,577,686
48,906,141
Payment
2,162,724
41,354,974
Balance on 12.31.2012
3,740,410
90,261,115
c) Profit reserves
Controlling Company and
Consolidated
Statutory reserve
Investment reserve
272
Consolidated
2012
2011
2012
2011
102,528
99,236
102,528
99,236
956,644
956,644
956,644
956,644
1,059,172
1,055,880
1,059,172
1,055,880
| Annual And Sustainability Report Eletrosul 2012
13. Financial Statements and Notes
d) Equity evaluation adjustment
e)Determinations of the bylaws
The balance of equity adjustment of BRL 186,711
thousand comprising adjustment of fair value
hedge accounting of jointly controlled SPE ESRB
Participações S/A, in the amount of BRL 466,000
and the recognition of actuarial gains and losses
in the value of BRL 187,177 thousand.
Among the main determinations of the social
contract, are highlighted: (i) the Company shall
be managed by a Board of Directors and an
Executive Board, (ii) for each year will be held
the distribution of a dividend of not less than
25% of net income, adjusted under the law.
f) Basic and diluted earnings per
common share.
2012
Net profit assigned to controlled stockholders
Number of common stock
Basic profit per common share
Weighted-average common shares
Diluted earnings per common stock
2011
65,833
103,372
90,261,115
48,906,141
0.73
2.11
52,871,686
48,906,141
1.25
2.11
The calculation of dividends is shown in note 32.
NOTE 32 – Proposed Dividends
The Company accrued in 2012 the amount of
BRL 15,635 thousand as mandatory dividends
and recorded in equity value of BRL 46,906
thousand as additional dividends proposed to
be submitted to the Annual General Meeting
(AGM). In 2011, was accrued as minimum
dividend of BRL 24,551 thousand as additional
dividends in excess of the minimum required,
the amount of BRL 73,652 thousand.
a) The dividends in 2012 and 2011 were calculated as follows:
2012
2011
Net income
65,833
103,372
Legal reserve over net profit (5%)
(3,292)
(5,169)
Calculation base for minimum dividends
62,541
98,203
Minimal compulsory dividend (25%)
15,635
24,551
46,906
73,652
62,541
98,203
Surplus value to minimum mandatory dividend
Proposed dividends
Annual And Sustainability Report Eletrosul 2012 |
273
b) Changes in dividends in 2012:
Balance on previous year
24,552
Aditional dividends proposed on previous year
73,652
Update SELIC
8,298
Payments
(106,501)
Minimal compulsory dividend
15,635
Balance on end of the year
15,636
NOTE 33 – Compensation of
Management and Employees
include salaries, bonuses and yearly. The fee
paid to each director, taking as basis the same
month, was BRL 32,726.63 for the CEO and
BRL 31,168.22 for the other officers.
The highest and lowest compensation paid
to employees in accordance with the salary
policy of the Company, taking as a base held in
December 2012, was BRL 37,825.88 and
BRL 2,360.54, respectively. These amounts
The total remuneration paid to Directors and
Board of Directors is as follows:
Controlling Company
2012
2011
Directors
Counselor
Directors
Counselor
Remuneration
1,324
244
1,157
222
Social charges
409
48
370
45
Profit sharing
253
–
274
–
1,986
292
1,801
267
Total
Company held on December 31, 2012, with 1,751
employees (1,546 being within itself approved
by DEST and 205 reintegrated), and the frame
itself is divided into 876 linked to operational
activities and 670 administrative activities.
The average compensation of employees,
274
| Annual And Sustainability Report Eletrosul 2012
taking as basis the month of December 2012,
was BRL 7,882.33.
NOTE 34 – Related Parties
The main balances and transactions with
related parties are as follows:
–
–
Integração
1
TOTAL ASSET
Uirapuru
TSBE
Santa Vitória do Palmar
2,632,730
5,127
–
–
6
RS Energia
Porto Velho
–
20
Norte Brasil
Livramento
58
7
Etau
23,049
1,908
–
–
2,331
1,351
804
–
–
534
176
–
–
6
7
15,945
–
–
–
–
–
–
–
537
193
3,697
470
5,650
9
7,802
252
118
–
1,525
2,065
–
–
–
496
747
2,603,937
Accounts receivable
Cerro Chato III
Cerro Chato II
Cerro Chato I
Artemis
Affiliat
ITAIPU
Furnas
Eletronuclear
Eletronorte
Eletroacre
Chesf
CGTEE
CERON
CEPISA
CELG Distribuição
CEAL
Related parties
Eletrobras
União (Governo Federal)
Controllers
ASSET
–
31,898
–
31,898
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
12.31.2012
Dividends
AFAC
373
1,525
183
2,687,677
7,035
31,898
–
2,332
1,357
804
20
–
592
637,290
4,825
–
–
3,502
5
–
–
–
55
4
4
4
6
7
501
(3)
3,728
461
5,943
25
7,951
89
16,482
193
3,697
470
5,650
9
7,802
252
118
148
322
2,065
1,215
747
607,391
Accounts receivable
496
747
2,603,937
Total
Controlling Company
–
15,560
1,382
–
5,067
773
–
250
–
2,060
513
652
–
4,863
–
–
–
–
–
–
–
–
–
–
–
–
–
–
120,000
–
–
–
66,258
50,000
–
3,742
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
12.31.2011
Dividends
AFAC
4
772,850
6,207
–
5,067
70,533
50,005
250
3,742
2,060
568
656
4
5,364
(3)
3,728
461
5,943
25
7,951
89
148
373
322
1,215
747
607,391
Total
13. Financial Statements and Notes
Annual And Sustainability Report Eletrosul 2012 |
275
276
| Annual And Sustainability Report Eletrosul 2012
–
–
–
–
–
–
–
–
1,525
118
252
7,802
9
5,650
470
3,697
193
CEPISA
CERON
CGTEE
Chesf
Eletronorte
Eletronuclear
Furnas
ITAIPU
–
–
–
10
1,282
2,628,295
Livramento
TOTAL ASSET
Uirapuru
–
42
Etau
Affiliat
Eletroacre
–
–
2,065
CEAL
CELG Distribuição
–
747
–
–
Dividends
2,603,937
Accounts receivable
496
Related parties
Eletrobras
União (Governo Federal)
Holding company
ASSET
12.31.2012
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
AFAC
461
3,728
(3)
470
3,697
193
629,636
5,943
5,650
2,628,295
25
9
1,206
7,951
7,802
1,282
89
252
–
148
118
10
373
1,525
40
1,215
2,065
42
322
747
747
496
607,391
Accounts receivable
2,603,937
Total
Consolidated
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
Dividends
12.31.2011
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
AFAC
629,636
1,206
–
40
(3)
3,728
461
5,943
25
7,951
89
148
373
1,215
322
747
607,391
Total
–
–
63
101
Eletronorte
Furnas
–
–
–
–
–
–
–
15,614
466
1
–
2
1
1
1,127,616
ESBR
Etau
Norte Brasil
Porto Velho
RS Energia
Uirapuru
LIABILITY TOTAL
Artemis
2
Affiliat
–
15,614
Dividends
74
1,126,905
Accounts receivable
Chesf
Related parties
Eletrobras
Holding company
LIABILITY
12.31.2012
554,930
–
–
–
–
–
–
–
–
–
–
554,930
AFAC
698
–
(8,536)
–
–
–
969,744
466
1
–
2
1
1
1,698,160
9
101
–
–
63
2
–
977,573
Accounts receivable
74
1,697,449
Total
Controlling Company
24,551
–
–
–
–
–
–
–
–
–
–
24,551
Dividends
AFAC
1,696,404
–
–
–
–
–
–
–
–
–
–
1,696,404
12.31.2011
2,690,699
–
–
–
(8,536)
–
698
–
9
–
–
2,698,528
Total
13. Financial Statements and Notes
Annual And Sustainability Report Eletrosul 2012 |
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| Annual And Sustainability Report Eletrosul 2012
LIABILITY TOTAL
Etau
–
15,614
1,127,144
–
101
Furnas
1
–
63
Eletronorte
Affiliat
–
15,614
Dividends
74
1,126,905
Accounts receivable
Chesf
Related parties
Eletrobras
Holding company
LIABILITY
12.31.2012
554,930
–
–
–
–
554,930
AFAC
979,229
1,697,688
9
101
–
–
63
1
–
979,220
Accounts receivable
74
1,697,449
Total
Consolidated
24,551
–
–
–
–
24,551
Dividends
AFAC
1,696,404
–
–
–
–
1,696,404
12.31.2011
2,700,184
–
9
–
–
2,700,175
Total
(58)
1,305
–
57
110
61
Livramento
Porto Velho
TOTAL RESULT
Uirapuru
TSBE
Santa Vitória do Palmar
RS Energia
Marumbi
Etau
(3)
(1,126)
–
2,305
226,185
131
–
(4)
(8)
242
1,343
–
262
–
(4)
806
–
–
66
65
(9)
Cerro Chato III
Cerro Chato II
Cerro Chato I
–
6,263
(321)
–
35,632
4,540
–
(397)
56,161
194
(318)
–
77,035
13,349
–
(4)
–
–
19,816
4,388
222
–
Incomes
66
Artemis
Affiliat
ITAIPU
Furnas
Eletronuclear
Eletronorte
Eletroacre
Chesf
CERON
CEPISA
CELG Distribuição
CEAL
Related parties
Eletrobras
União (Governo Federal)
Holding company
RESULT
(160,693)
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
(292,780)
132,087
12.31.2012
Charges and
Financial
Services
Result
1,319
194
218
–
37
2,159
188,421
–
2,302
64,366
131
–
1,969
58
–
–
670
242
1,339
53
262
110
802
30
65
66
22
6,067
66
6,254
30,345
57
35,311
3,811
56,150
4,540
55,764
65,290
3,819
1,247
76,717
13,349
11,636
2,599
872
–
Incomes
19,816
4,384
(292,558)
132,087
Total
Controlling Company
(1,126)
(22)
–
–
–
–
–
–
–
–
–
–
–
–
(108)
–
(565)
–
(156)
–
–
–
(20)
(255)
–
11,282
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
(101,943)
113,225
12.31.2011
Charges and
Financial
Services
Result
198,577
2,137
–
–
1,969
58
–
–
670
37
30
22
6,067
–
30,237
3,811
55,585
218
65,134
1,319
3,819
2,579
11,636
(101,326)
113,225
Total
13. Financial Statements and Notes
Annual And Sustainability Report Eletrosul 2012 |
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280
| Annual And Sustainability Report Eletrosul 2012
–
–
(58)
–
(318)
–
(397)
–
(321)
–
13,349
1,305
1,766
77,035
194
56,161
4,540
35,632
57
CEPISA
CERON
CGTEE
Chesf
Eletronorte
Eletronuclear
Furnas
ITAIPU
–
–
–
–
(3)
(1,104)
110
210
123
26
576
216,095
Livramento
Marumbi
Santa Vitória do Palmar
TSBE
Uirapuru
TOTAL OF RESULTS
–
(3)
–
Cerro Chato III
585
–
–
Cerro Chato II
Etau
–
–
Cerro Chato I
Affiliat
Eletroacre
(4)
4,388
19,816
–
222
CEAL
–
–
Incomes
CELG Distribuição
Related parties
Eletrobras
União (Governo Federal)
Holding company
RESULT
(160,693)
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
(292,780)
132,087
12.31.2012
Charges and
Financial
Services
Result
65,290
218
56,150
3,811
30,345
–
76,717
194
55,764
4,540
35,311
57
4
482
–
–
–
–
2,159
180,059
–
582
110
210
123
26
573
54,298
3
1,350
1,766
–
1,319
1,247
2
3,819
13,349
–
2,599
11,636
4,384
872
(292,558)
19,816
–
Incomes
132,087
Total
Consolidated
(1,126)
(22)
–
–
–
–
–
–
–
–
–
(108)
–
(565)
–
(156)
–
–
–
–
(20)
(255)
–
11,282
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
(101,943)
113,225
12.31.2011
Charges and
Financial
Services
Result
190,215
2,137
–
–
–
–
482
4
3
2
–
30,237
3,811
55,585
218
65,134
1,350
1,319
3,819
11,636
2,579
(101,326)
113,225
Total
13. Financial Statements and Notes
transmission revenues and marketing
costs of the transmission system
(EUST), outsourced services;
d) Related parties: customers, credits
various vendors, transmission
revenue and services, costs of the
transmission system (EUST), thirdparty services.
The main transactions with related parties are
as follows:
a) Federal Union: renegotiated energy
credits (Law 8.727/93) and claims for
damages (MP 579);
b) Eletrobras: loans and financing, AFAC,
dividends and financial charges;
c) Subsidiaries and / or jointly
controlled: dividends, AFAC,
NOTA 35 – Annual Permitted Revenue (RAP)
Controlling Company
Company
Eletrosul
Anual RAP value
2012/2013
Annual
readjustment
07/2012
447,504
IGPM - 4.26%
010/2005 - LT Campos Novos - Blumenau C2**
86,542
IGPM - 4.26%
004/2008 - LT P. Médici - Santa Cruz 1 230kV**
5,605
IPCA - 4.99%
005/2009 - SE Missões - 230/69 kV (150 MVA)**
4,448
IPCA - 4.99%
Concession contract ANEEL
057/2001 - Diversos Empreendimentos*
544,099
*
**
Resolution ANEEL nº 1.395/2013
Resolution ANEEL nº 1.313/2012
Invested
Company
Annual
RAP value
2012/2013**
Concession contract ANEEL
Annual
readjustment
07/2012
Artemis
004/2004 - LT Salto Santiago - Ivaiporã - Cascavel Oeste
71,743
IGPM - 4.26%
Etau
082/2002 -LT Campos Novos - Lagoa Vermelha Santa Marta
32,230
IGPM - 4.26%
PVTE
010/2009 - SE Coletora Porto Velho 500/230 kV 2
Converter stations
61,256
IPCA - 4.99%
RS Energia
005/2006 - LT Campos Novos - Pólo 525kV
33,305
IPCA - 4.99%
011/2010 - Other substation
10,530
IPCA - 4.99%
012/2010 - LT Monte Claro - Garibaldi 230 kV
2,838
IPCA - 4.99%
002/2011 - SE Foz do Chapecó 230/138 kV
2,304
IPCA - 4.99%
23,096
IGPM - 4.26%
Uirapuru
002/2005 - LT Ivaiporã - Londrina
237,302
**
Resolution ANEEL nº 1.313/2012
According to the ICPC 01 and OCPC 05, the
revenue to be recorded in the result does
not match the RAP approved by ANEEL and
administered by the National System Operator
- ONS, but revenues from the financial asset,
O&M and construction. The RAP continues to
represent the amount to be received by the
Company, amortizing the financial asset, as
described in note 7.
Annual And Sustainability Report Eletrosul 2012 |
281
NOTE 36 – Training and Staff
Development *
The Company has a policy of continuous
qualification of officers and employees, have
submitted the following indicators:
Controlling Company
Indicators
Trained employees
Men trained per hour
Average training hours
Index of employees trained (%)
Trained labor force (%)
Total investment (thousand)
Average value invested per employee (thousand)
*
Information not audited by independent auditors.
NOTE 37 – Results by
Business Segment
The Company’s management of its business
to the determination of income by business
segment is shown below:
282
| Annual And Sustainability Report Eletrosul 2012
2012
2011
1,427
1,494
121,248
117,677
85.00
65.00
91.00%
82.90%
4.00%
3.40%
2,833
4,004
2.0
2.7
(224,423)
(30,694)
–
(2,213)
4,140
(7,264)
304
Depreciation and amortization
Provision for doubtful debt
(7,585)
(9,353)
(82,730)
564,626
(272,500)
292,126
(52)
–
73,003
(8,891)
64,112
GROSS OPERATING PROFIT
Operating Expenses
NET INCOME
Income tax and social contribuition
OPERATING PROFIT AFTER LAW 12.783/13
Indemnities Law 12.783/13
45
121,529
577,802
699,331
(45,468)
653,863
(939,544)
351,514
(588,030)
(13,227)
(857)
44
Other income/expenses
–
–
(896,494)
24
Onerous Contracts
(939,544)
(68,430)
19
Recoverable value of assets (Impairment)
1d, 8
(151,160)
(12,543)
(81,242)
43
Financial Result
OPERATING PROFIT BEFORE LAW 12.783/13
62,220
(12,520)
39
Equity income
Other income and Operating Expenses
41
41
Cunstructon Cost
SERVICE RESULT
41
Cost of services rendered to third parties
Other
(5,301)
(-) Expense Recovery
(218,765)
(6,188)
(12,245)
Staff, material and outsourced services
41
–
(6,715)
Operating Cost
–
(159,526)
41
24
–
(166,241)
881,132
269,990
Provision (reverse) loss onerous contract
38
2012
Transmission
Generation
Purchased power for resale
Cost with Electric Power
OPERATING COST
NET OPERATIONAL INCOME
Notes
65,833
306,046
(240,213)
577,802
(818,015)
(14,084)
(896,494)
(149,672)
(163,703)
49,700
356,238
(281,391)
637,629
(82,730)
(9,405)
(12,886)
4,444
(9,477)
(12,245)
(224,953)
(255,117)
(6,715)
(159,526)
(166,241)
1,151,122
Total
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
Generation
Controlling Company
2011
103,372
(12,287)
115,659
–
115,659
50,641
–
(41,587)
(122,246)
33,675
195,176
(216,995)
412,171
(92,201)
(10,312)
(7,285)
3,152
(2,247)
–
(213,270)
(219,650)
14,020
(124,603)
(110,583)
844,917
Transmission
103,372
(12,287)
115,659
–
115,659
50,641
–
(41,587)
(122,246)
33,675
195,176
(216,995)
412,171
(92,201)
(10,312)
(7,285)
3,152
(2,247)
–
(213,270)
(219,650)
14,020
(124,603)
(110,583)
844,917
Total
13. Financial Statements and Notes
Annual And Sustainability Report Eletrosul 2012 |
283
284
| Annual And Sustainability Report Eletrosul 2012
(226,485)
(221,109)
–
(2,141)
4,140
(58,947)
(9,593)
(33,994)
(7,264)
304
(7,375)
(16,131)
(557,410)
719,146
(276,830)
442,316
(52)
–
80,441
(25,589)
54,852
GROSS OPERATING PROFIT
Operating Expenses
–
(13,533)
150,873
577,802
728,675
(72,469)
656,206
(806)
(941,961)
–
(941,961)
354,266
(587,695)
44
Other income/expenses
OPERATING PROFIT AFTER LAW 12.783/13
Income tax and social contribuition
NET INCOME
Indemnities Law 12.783/13
OPERATING PROFIT BEFORE LAW 12.783/13
45
1d, 8
(68,430)
(81,242)
(896,494)
19
Recoverable value of assets (Impairment)
24
(209,480)
(18,271)
43
Onerous Contracts
Financial Result
Other income and Operating Expenses
SERVICE RESULT
41
Construction cost
41
41
Cost of services rendered to third parties
Other
(8,400)
(-) Expense Recovery
Provision for doubtful debt
Depreciation and amortization
Staff, material and outsourced services
41
–
(6,715)
24
Provision (reverse) loss onerous contract
Operating Cost
–
(159,532)
–
(166,247)
1,519,172
305,687
41
38
Transmission
Generation
Purchased power for resale
Cost with Electric Power
OPERATING COST
NET OPERATIONAL INCOME
Note
2012
68,511
281,797
(213,286)
577,802
(791,088)
(14,339)
(896,494)
(149,672)
(227,751)
497,168
(302,419)
799,587
(557,410)
(16,183)
(15,775)
4,444
(9,405)
(33,994)
(230,702)
(285,432)
(6,715)
(159,532)
(166,247)
1,824,859
Total
(1,885)
753
(2,638)
–
(2,638)
–
–
–
955
(3,593)
(10,909)
7,316
–
–
(587)
–
–
–
(21)
(608)
–
–
–
7,924
Generation
Consolidated
106,515
(28,430)
134,945
–
134,945
50,649
–
(41,587)
(145,651)
271,534
(223,330)
494,864
(514,193)
(10,312)
(9,244)
3,560
(2,511)
–
(214,322)
(222,517)
14,020
(124,603)
(110,583)
1,352,469
Transmission
2011
104,630
(27,677)
132,307
–
132,307
50,649
–
(41,587)
(144,696)
267,941
(234,239)
502,180
(514,193)
(10,312)
(9,831)
3,560
(2,511)
–
(214,343)
(223,125)
14,020
(124,603)
(110,583)
1,360,393
Total
13. Financial Statements and Notes
NOTE 38 – Net Operating Revenue
Controlling Company
2012
Consolidated
2011
2012
2011
GROSS OPERATIONAL INCOME
31,432
–
68,500
8,486
Energy comercialization income
266,012
33,721
266,012
33,721
O&M service income
447,697
470,923
473,706
481,861
Financial asset income
423,875
320,932
566,199
396,684
Construction of transmission line income
82,730
92,201
557,410
514,193
Income of services provided for third parties
16,901
19,127
30,578
28,232
7,457
4,820
7,295
4,705
1,276,104
941,724
1,969,700
1,467,882
COFINS
(75,935)
(52,950)
(87,137)
(59,189)
PIS/PASEP
(16,479)
(11,489)
(18,909)
(12,856)
(589)
(486)
(1,553)
(490)
(93,003)
(64,925)
(107,599)
(72,535)
Global Reserve of Reversion (RGR)
(22,731)
(23,418)
(26,645)
(25,684)
P&D
(9,248)
(8,464)
(10,597)
(9,270)
(31,979)
(31,882)
(37,242)
(34,954)
1,151,122
844,917
1,824,859
1,360,393
Energy generation income
Other income
DEDUCTIONS TO OPERATIONAL INCOME
Taxes and contributions
ICMS/ISS
Sectorials Charges
NET OPERATIONAL INCOME
The amounts under “revenue generating power”
in the controller in the amount of BRL 18,306
thousand refers to the sales of HPP and HPP
Passo São João Maua and consolidated in the
amount of BRL 44,418 thousand, refers to SPC’s
billing Wind Cerro Chato I S/A, Wind Cerro
Chato II S/A and Wind Cerro Chato III S/A.
Essentially, the variation in the caption “Income
from sale of power” derives from the revenues
authorized by ANEEL on UHE Maua, in the
amount of BRL 97,172 thousand for the period
from January 2011 to February 2012, which was
received in July 2012.
Annual And Sustainability Report Eletrosul 2012 |
285
38.1 Power supply*
Controlling company and consolidated
2012
2011
Amount (MWh)
Value (BRL thousand)
Amount (MWh)
Value (BRL thousand)
Sold energy*
2,752,512.853
266,012
528,468.374
33,721
Generated Energy
268,576.040
31,432
–
–
Generated Energy
- Affiliat
286,058.538
39,342
43,207.483
10,520
*
In the rubric “sold Energy” it’s computed the billing,
authorized by ANEEL, of BRL 97.172 thousand, referred to
UHE Mauá in the period of January 2011 until February 2012.
*
Information not audited by independent auditors.
NOTE 39 – Results of
Equity Investments
Arrangement of balance per company
2012
2011
26,989
13,602
Cerro Chato I
(261)
–
Cerro Chato II
(904)
–
Cerro Chato III
(1,721)
2,927
Chuí
(281)
–
Costa Oeste
(252)
–
ESBR
(4,352)
(3,646)
Etau
4,793
5,413
Integração
9,197
8,646
Livramento
(775)
–
(52)
–
Norte Brasil
3,414
1,164
Porto Velho
2,685
(1,330)
RS Energia
8,182
3,253
Santa Vitória do Palmar
(492)
–
TSBE
(107)
–
TSLE
(564)
–
Teles Pires
(3,734)
(828)
Uirapuru
7,935
4,474
49,700
33,675
Artemis
Marumbi
TOTAL
286
Controlling Company
| Annual And Sustainability Report Eletrosul 2012
13. Financial Statements and Notes
NOTE 40 – Costs by Sector
Controlling Company
Consolidated
2012
2011
2012
2011
Global Reserve of Reversion (RGR)
22,731
23,418
26,645
25,684
Supervisory fee ANEEL
4,554
4,209
5,105
4,320
National Fund for the Development of
Science and Technology (FNDCT)
3,699
3,386
3,699
3,386
Energy Research Company (EPE)
1,850
1,693
1,850
1,693
Estimated bonds Research and Development (R&D)
3,699
3,385
5,048
4,191
Total
36,533
36,091
42,347
39,274
The sectorial contribution to the Global Reversion
Reserve (RGR) was abolished from 2013.
Annual And Sustainability Report Eletrosul 2012 |
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288
| Annual And Sustainability Report Eletrosul 2012
2,213
82,730
–
–
–
–
–
–
–
–
–
–
(4,140)
7,692
7,264
–
159,526
6,715
12,245
–
2,733
1,380
1,013
–
–
–
(304)
175
Net doubtful credit provision
EUSD
EUST
CFURH
Provision (reversion) for contingencies
Special retirement / Actuarial liability
Profit Sharing
* Includes basically PIS and COFINS on depreciation.
Total
Other expenses
(-) Expense Recovery*
Supervisory fee ANEEL
Depreciation and amortization
Provision (reversion) of onerous contracts
Purchased power for resale
Cost building the transmission line
316,557
36,713
2,224
Third party services
196,936
7,551
2
Material
183,798
Generation Transmission
cost
cost
3,963
Staff
Nature
281,391
32,922
(10,462)
31,772
1,053
66,977
–
–
–
4,554
2,095
–
–
–
–
40,676
2,771
109,033
Operating
Expenses
Controlling Company
794,884
40,789
(14,906)
31,772
1,053
66,977
1,013
1,380
2,733
4,554
14,340
6,715
159,526
82,730
9,477
79,613
10,324
296,794
Total
225,179
1,015
(304)
–
–
–
1,013
3,623
2,733
–
33,994
6,715
159,532
–
7,264
5,569
62
3,963
800,093
9,424
(4,140)
–
–
–
–
–
–
–
–
–
–
557,410
2,141
42,358
7,612
185,288
302,419
34,633
(10,462)
31,772
1,053
66,977
–
–
–
5,105
2,178
–
–
–
–
48,082
3,547
119,534
Operating
Expenses
Consolidated
Generation Transmission
cost
cost
2012
1,327,691
45,072
(14,906)
31,772
1,053
66,977
1,013
3,623
2,733
5,105
36,172
6,715
159,532
557,410
9,405
96,009
11,221
308,785
Total
NOTE 41 – Costs and Expenses of Service
a) Distribution in nature
–
(3,152)
7,341
–
–
–
–
Profit Sharing
(-) Expense Recovery*
Other expenses
Total
* Includes basically PIS and COFINS on the depreciation expense
–
–
Special retirement / Actuarial liability
432,746
–
–
–
–
Depreciation and amortization
Provision (reversion) for contingencies
(14,020)
–
Provision (reversion) of onerous contracts
–
124,603
–
Purchased power for resale
–
92,201
–
Cost building the transmission line
EUST
2,247
–
Net doubtful credit provision
–
31,989
–
Third party services
–
6,712
–
Material
Supervisory fee ANEEL
184,825
–
Generation Transmission
cost
cost
Staff
Nature
216,995
23,450
(28,440)
33,470
14,321
(4,718)
–
4,209
2,542
–
–
–
–
37,120
3,043
131,998
Operating
Expenses
Controlling Company
649,741
30,791
(31,592)
33,470
14,321
(4,718)
–
4,209
2,542
(14,020)
124,603
92,201
2,247
69,109
9,755
316,823
Total
608
587
–
–
–
–
–
–
–
–
–
–
–
21
–
–
857,605
9,300
(3,560)
–
–
–
–
–
–
(14,020)
124,603
514,193
2,511
32,270
6,767
185,541
234,239
24,862
(28,440)
33,470
14,321
(4,718)
–
4,320
2,557
–
–
–
–
46,660
3,374
137,833
Operating
Expenses
Consolidated
Generation Transmission
cost
cost
2012
1,092,452
34,749
(32,000)
33,470
14,321
(4,718)
–
4,320
2,557
(14,020)
124,603
514,193
2,511
78,951
10,141
323,374
Total
13. Financial Statements and Notes
Annual And Sustainability Report Eletrosul 2012 |
289
b) Distribution by type of expense
Controlling Company
Staff
2012
2011
2012
2011
Remunerations
98,990
93,468
105,816
97,450
Hazardous activities
19,944
18,705
19,944
18,705
Overtime
14,346
13,496
14,346
13,496
Christmas bonus provision
12,592
11,926
13,017
12,073
Gratuity and provision vacation
22,192
22,085
23,397
22,572
Social charges
58,631
56,549
61,085
57,839
1,911
3,051
2,164
3,057
43,008
42,790
43,836
43,429
17,170
15,482
17,170
15,482
Plan for readjustment of staff (PREQ)
26
8,977
26
8,977
Extension of maternity leave Law 11.770/08
93
113
93
113
Provision sponsored contribution without
benefit of the present generation
758
22,284
758
22,284
Cost of service rendered
7,276
8,150
7,276
8,150
Transfer for ongoing order
(143)
(253)
(143)
(253)
296,794
316,823
308,785
323,374
Cost of living allowance
Benefits
Contribution ELOS
Total
*
Refers to employees who opted to migrate from the DB pension plan to the CD pension plan.
Controlling Company
Material
Consolidated
2012
2011
2012
2011
2,130
2,253
2,379
2,334
954
1,105
954
1,113
Expedient, consumption, cleaning and replacement
4,105
3,708
4,633
3,939
Operation and maintenance of electrical system
2,050
1,256
2,124
1,309
Vehicle lubricant
50
29
50
29
Tires and cameras
147
114
147
114
Meals and snacks
108
136
144
149
Fuel for vehicles leased during travel
42
49
42
49
Material to be ordered to inventories
1,075
1,398
1,075
1,398
84
117
92
117
(421)
(410)
(419)
(410)
10,324
9,755
11,221
10,141
Fuel and vehicle lubricant
Parts and accessories for vehicles
Cost of service rendered
Transfer for ongoing order
Total
290
Consolidated
| Annual And Sustainability Report Eletrosul 2012
13. Financial Statements and Notes
Controlling Company
Third-party service
2012
2011
Consolidated
2012
2011
External audit
313
162
722
280
Freight and cartage
723
587
742
592
Surveillance
7,708
6,391
8,329
7,168
Cleaning, maintenance and repair of
buildings and facilities in general
6,303
6,336
7,546
6,387
831
793
844
806
1,087
958
733
1,214
Maintenance and repair of equipments furniture and fixtures
437
409
425
421
Maintenance and repair of equipments electronic data processing
114
346
135
350
2,970
2,868
3,017
2,893
172
214
178
220
34,459
24,452
39,276
29,007
1,743
1,662
2,123
1,699
Flight tickets
2,806
2,661
2,994
2,832
Communication
1,898
1,979
2,457
2,757
Hosting, meals and snacks
5,875
5,901
6,767
6,358
Use of own vehicles
97
140
150
163
Judicial proceeding expenses
315
321
661
1,868
4,952
3,770
4,921
3,862
Public Utility Advertisement
259
657
272
703
Legal Publicity (Compulsory)
1,699
1,913
1,889
1,947
Cost of service rendered
1,939
1,989
5,164
1,855
Other services
3,073
4,771
6,489
5,740
Transfer for ongoing order
(160)
(171)
175
(171)
79,613
69,109
96,009
78,951
Maintenance and repair of vehicles
Maintenance and repair of electrical facilities
Electrical Energy
Water and sewage
Other third parties services*
Taxi, buses and similar
Institutional marketing
Total
*
Substantially expenses are accounted reception service, concierge services, maintenance services, gas services, among others.
Annual And Sustainability Report Eletrosul 2012 |
291
Controlling Company
Other expenses
2012
2011
2012
2011
IPVA
291
301
291
301
ICMS
3,310
1,585
3,310
1,585
51
–
51
–
IPTU
482
730
485
736
Rates
370
567
1,104
946
16,391
14,644
16,566
14,860
Leasing and rents
2,931
2,420
4,411
3,171
Insurance
2,736
2,515
2,954
2,929
Newspaper, magazines, technical books and CD-ROM
167
163
163
168
Software
498
318
543
351
7,651
79
7,651
79
3
40
13
40
Expenses with interns
780
847
780
847
Assisted participants
3,184
2,816
3,184
2,816
9
52
9
52
Royalties (CFURH)
1,013
–
1,013
–
EUSD
2,733
–
2,733
–
EUST
1,380
Other expenses
1,938
3,715
3,560
5,869
(3)
(1)
(3)
(1)
45,915
30,791
52,441
34,749
ISS
Donations, contributions and subsidies
Write off fiscal credits / Loss*
Annuities to class council
Retirement benefits
(-) Transfer for ongoing order
Total
*
292
Consolidated
3,623
Substantially, refers to the amount written off for tax credits without forecasting recoverability.
| Annual And Sustainability Report Eletrosul 2012
13. Financial Statements and Notes
c) Electricity purchased for resale*
Controlling company and consolidated
2012
Purchased power
for resale
*
2011
Amount (MWh)
Value (BRL
thousand)
Amount (MWh)
Value (BRL
thousand)
1,283,925,500
185,586
1,200,120,000
135,711
Information on the amount purchased not reviewed by independent auditors.
NOTE 42 – PIS/COFINS ON
FINANCIAL INCOME
On November 9, 2005, in plenary session,
the Federal Supreme Court (STF) ruled
unconstitutional in four individual resources,
paragraph 1 of Art. 3 of Law No. 9.718/98, which
defined as base of PIS and COFINS, the total
revenues earned by a corporation. The Supreme
Court held that the said Law, when their
issue was incompatible with the constitution
then in force, provided that the incidence
of social security contributions only on
billing of legal entities and not on all of
their income. It turns out that the Supreme
Court decisions were not made in the
Direct Action of Unconstitutionality (ADIN),
benefiting only and solely the parties involved
on the mentioned features.
By reason of the foregoing, the Company filed a
lawsuit postulating statement unenforceability
of PIS and COFINS for the period from February
1999 to July 2004, being judged partially
granted the request relating to payments made
considering prescribed gatherings before 23
February 2011. Disagreeing, the Company filed
a lawsuit ensuring no prescription of amounts
overpaid that on December 31, 2012, totaled
approximately BRL 108.6 million.
In December 2012, the Company’s action was
dismissed, and the legal departmentis adopting
appropriate measures in order to obtain the
compensation and / or offsetting of the amounts
in question. By presenting Contingent Assets, the
values are not reflected in the financial statements
due to the absence of a favorable final decision.
Annual And Sustainability Report Eletrosul 2012 |
293
NOTE 43 – Financial Results
Controlling Company
Consolidated
2012
2011
2012
2011
28,693
29,762
41,071
43,850
71,565
80,281
71,565
80,281
Energy credits renegotiated - Monetary variation
43,907
32,945
43,907
32,945
Concession of credits for indemnity Monetary variation
16,615
–
16,615
–
786
687
1,073
1,072
Fine
3,351
757
3,351
757
Monetary Variation over Judicial Deposits
2,323
2,042
2,323
2,043
Adjustment of present tributs value/UBP
11,393
1,582
11,393
1,582
26,078
–
26,078
–
4,925
(910)
8,467
399
209,636
147,146
225,843
162,929
Charges of debts (financing)
93,415
77,395
163,774
109,468
Monetary variation (financing)
35,835
37,915
41,244
40,349
Charges overs tributes and social contribuition
5,676
7,379
5,740
10,356
Other fine
1,036
542
1,321
661
Other interest
2,618
2,007
3,982
2,141
151
106
346
165
2,302
3,920
2,483
4,225
5,311
3,830
5,311
3,830
8,298
8,971
8,298
8,971
178,231
114,389
178,231
114,389
2,272
2,833
2,272
2,833
Adjustment of present tributs value/UBP
10,762
9,914
10,762
9,914
Securities update CFT-Eletronet/Eletrobras*
26,078
–
26,078
–
1,354
191
3,752
323
373,339
269,392
453,594
307,625
(163,703)
(122,246)
(227,751)
(144,696)
a) Financial income
Income over financial application
Energy credits renegotiated - Interest
Interest
Securities update CFT-Eletronet/Eletrobras*
Diversas
Subtotal
b) Financial expenses
Bank expenses
Tax on Financial Operations (IOF)
Monetary variation - Contingency/ELOS
Update by SELIC of dividends
Update by SELIC of AFAC Eletrobras
Update by SELIC of PREQ
Monetary variation - Other
Subtotal
Financial Result
*
294
Essentially, the accounting record of the update assets and liabilities of Eletronet titles either rescued (BRL 48,916 thousand), due to
the expiration of the assets that were pledged as CFT lending by Eletrobras, offered as collateral in the lawsuit of EletronetOperation.
At redemption, the securities were recorded as assets under “escrow deposits” and non-current liabilities under “other liabilities”. The
updated value of the bonds will be converted as financial loan from Eletrobras.
| Annual And Sustainability Report Eletrosul 2012
13. Financial Statements and Notes
NOTE 44 – Other Income and Expenses, Net
Controlling Company
2012
Gain/loss on deactivation of assets and rights
(4,629)
(755)
423
403
423
403
–
74,166
–
74,166
(8,937)
(20,505)
(8,937)
(20,505)
(887)
–
(887)
–
(54)
(2,707)
(1,137)
(2,894)
–
–
828
234
(14,084)
50,641
(14,339)
50,649
Other expenses
Other income
Total
The amount of BRL 74,166 thousand constant
at the heading “Measurement of gains from
shareholding” in 2011, refers to the result
obtained on 08.11.2011 on the previous
2011
(716)
Mensuration of gains with corporate participation
Provision (reversion) for loss
2012
(4,629)
Gain/loss on disposal of assets and rights
Amortization of goodwill
2011
Consolidated
participation held in Artemis (49%) and
Uirapuru (49%), as the respective values of
BRL 63,012 thousand and BRL 11,154 thousand.
NOTE 45 – Tax Effects on Results
Controlling Company
2012
2011
Income tax
Social
Contribuition
(240,213)
(240,213)
115,659
115,659
40,890
40,890
54,376
54,376
Exclusions
(697,394)
(694,512)
(130,707)
(127,825)
Profit (loss) real/
base of social contribuition
(896,717)
(893,835)
39,328
42,210
Tax rate
15%+10%
9%
15%+10%
9%
Income tax and social contribuition
(224,203)
(80,445)
9,808
3,799
(1,398)
–
(1,320)
–
(225,601)
(80,445)
8,488
3,799
52,373
19,625
16,740
6,770
Deferred income tax and
social contribuition
(277,974)
(100,070)
(8,252)
(2,971)
Income tax and
social contribuition of period
(225,601)
(80,445)
8,488
3,799
Profit (loss) before tax
Additions
Fiscal Incentive*
Income tax and
social contribuition of period
Income tax and
social contribuition current
*
Income tax
Social
Contribuition
Rouanet Law, Sport Law and FIA.
The additions and deductions on the basis of
Income Tax and Social Contribution refer to
the additions and permanent exclusions, such
as sponsorships and donations, equity and
goodwill amortization.
Annual And Sustainability Report Eletrosul 2012 |
295
Consolidated
2012
Affiliat
Income tax
2011
Social
Contribuition
Income tax
Social
Contribuition
1,789
796
3,022
1,095
ESBR
(1,388)
(498)
(1,372)
(494)
Artemis
10,502
3,830
4,718
1,733
241
119
322
155
RS Energia*
Etau*
Norte Brasil
1,454
523
341
205
Porto Velho*
(1,270)
(453)
1,764
635
587
305
379
188
Cerro Chato I
(110)
(32)
–
–
Cerro Chato II
(225)
(73)
–
–
Cerro Chato III
(318)
(108)
814
299
6,305
2,270
1,164
422
2
1
–
–
Controlling Company
(225,601)
(80,445)
8,488
3,799
Total
(208,032)
(73,765)
19,640
8,037
71,219
26,621
25,975
10,224
(279,251)
(100,386)
(6,335)
(2,187)
(208,032)
(73,765)
19,640
8,037
Uirapuru*
Integração
Costa Oeste
Income tax and
social contribuition current
Deferred income tax and
social contribuition
Total
*Taxation by presumed profit
NOTE 46 – Insurances
Effective date
Beginning
End
Amount
insured
Insurance for specified risk (i)
27/02/2012
27/02/2013
1,819,900
2,289
Insurance for operational risk (ii)
07/09/2012
07/09/2013
235,606
319
International transport insurance
11/06/2012
11/06/2013
30,000
48
National transport insurance
18/03/2012
18/03/2013
113,125
110
Risks
i) Insurance of named hazards
On the policy taken out it was
highlighted the facilities of substations
and general facilities except the facilities
of the transmission lines, naming the
equipment and the respective insured
values and maximum compensation.
It provides basic coverage, such as fire,
296
| Annual And Sustainability Report Eletrosul 2012
Prize
lightning, explosion of any kind, and
additional coverage against possible
electrical damage.
ii) Operating risk insurance
Refers to the insurance risk operating
the plant of Passo São João.
13. Financial Statements and Notes
NOTE 47 – Financial Instruments
And Risk Management
a) Financial Instruments
The Company utilizes various financial
instruments, especially available, including
investments, accounts payable and financing.
Considering the timing and characteristics of
these instruments, which are systematically
renegotiated, the carrying amounts
approximate their fair values.
The amounts recorded as assets and liabilities
have immediate liquidity or maturity, mostly
in terms of less than three months ago.
The main financial assets and liabilities of
the Company on December 31, 2012 and
December 31, 2011 are as follows:
Consolidated
Financial asset
Note
Consolidated
2012
2011
2012
2011
a.1) Measured to amortized cost
Receivables
Clients
6
141,835
107,185
169,037
127,475
Financial asset Public service concession
7
986,210
2,519,593
2,730,058
3,770,653
Credits for indemnity
8
2,025,283
–
2,025,283
–
Energy credits renegotiated
9
578,654
607,391
578,654
607,391
Escrow and equity-linked deposits
5
101,070
31,533
119,660
73,222
4
139
136
139
136
4
87,454
257,339
612,806
624,187
3,920,645
3,523,177
6,235,637
5,203,064
Held until maturity
Marketable security
a.2) Measured to fair value
Cash and cash equivalent
Financial liability
a.3) Measured to amortized cost
Suppliers
20
70,540
109,546
210,590
325,022
Financing and loan
21
2,032,933
1,841,490
5,046,072
3,905,836
Dividends payable
45
15,636
24,552
16,272
24,552
2,119,109
1,975,588
5,272,934
4,255,410
Annual And Sustainability Report Eletrosul 2012 |
297
b) Risk Management
b.1) Exchange rate risk
The Company has a financing contract
in foreign currency (Euro) obtained with
Eletrobras through the KfW bank to
invest in the PCH São Bernardo’s complex.
About these operations there were not
contracted operations “hedge” (protection).
Controlling Company
2012
2011
Foreign
Currency
Reais
Foreign
Currency
Reais
Loan in Euro
13,293
35,831
13,293
32,359
Net Exposure
13,293
35,831
13,293
32,359
Liability
b.2) Interest rate risk
The Company is exposed to the risk that a change
in interest rate causes an increase at financial
expenses with future interest payments.
Controlling Company
2012
2011
2012
2011
IPCA
786.187
777.538
786.187
777.538
TJLP
947.913
856.744
3.926.636
2.707.660
SELIC
106.107
–
106.107
–
35.832
32.359
57.630
51.172
–
–
12.618
–
156.894
174.849
156.894
369.466
2.032.933
1.841.490
5.046.072
3.905.836
Basket of Currencies
CDI rate
Other
Total
b.3) Credit risk
Except for customer accounts, escrow deposits,
financial assets transmission, energy credits
renegotiated and indemnity claims, the Company
has no other significant balances receivable from
third parties accounted for this exercise. For this
fact, this risk is considered low.
The RAP of a transmission company is received
from companies using its infrastructure via
Usage Rate Transmission System (TUST). This rate
results from the apportionment among users of
transmission of some specific values, (i) the RAP
of all transmitters, (II) the services provided by
ONS, and (iii) regulatory burdens.
298
Consolidated
| Annual And Sustainability Report Eletrosul 2012
The granting authority delegated to the
generators, distributors, free consumers,
exporters and importers monthly payment
of RAP, which should be guaranteed by the
broadcast regulatory framework, consists in
unconditional contractual right to receive cash or
another financial asset, so the risk credit is low.
b.4) Liquidity risk
The expected cash flow is held by the Company, its
projection being continuously monitored in order
to guarantee and ensure liquidity requirements,
limits or covenants of the loan and sufficient cash
to meet operational needs of the business.
13. Financial Statements and Notes
Any excess cash generated by the operations
of the Company is invested in accounts
bearing interest, deposits and short-term
deposits, choosing instruments with
appropriate maturities or sufficient liquidity
to provide margin, as determined by the
above-mentioned forecasts.
financial liabilities, by maturity dates, for the
period remaining on the balance sheet date to
the contractual maturity date.
These figures are excluded from funding
provided by the parent company Eletrobras.
The amounts disclosed in the table are the
contractual undiscounted cash flows.
The table below analyzes the derivative
Controlling Company
< 1 year
1 - 2 years
2 - 5 years
> 5 years
142,599
135,869
374,375
749,297
70,540
–
–
–
1,776
1,883
6,231
92,977
Financing and loan
139,209
129,747
344,245
713,777
Suppliers
109,546
–
–
–
1,427
1,502
4,925
76,710
on December, 31 2012
Financing and loan
Suppliers
Payable Concession – UBP
on December, 31 2011
Payable Concession – UBP
Consolidado
< 1 year
1 - 2 years
2 - 5 years
> 5 years
471,552
572,853
1,559,575
3,467,303
210,590
–
–
–
1,776
3,901
17,291
248,387
Financing and loan
534,406
296,727
1,145,853
2,925,638
Suppliers
325,022
–
–
–
1,427
3,472
14,246
296,508
on December, 31 2012
Financing and loan
Suppliers
Payable Concession – UBP
on December, 31 2011
Payable Concession – UBP
b.5) Labor risks
Provisions are made for the contingencies of
labor litigation risk recognized by the company,
which represent the universe of probable losses,
witch judicialclaiming constitute in termination
pay, salary premiums, overtime and other
amounts due from subsidiary responsibility,
which are quantified at present value when the
effective settlement of this obligation.
The accounting provision of these demands
is following the guidelines of IAS 25 and the
impacts to the Company are shown in note 25.
Annual And Sustainability Report Eletrosul 2012 |
299
c) Capital Management
b.6) Environmental risks
The socio-environmental actions constituted
for contingency provisions for environmental
risks in the business units of the company’s
commitment to ensure achievement of
emissions Environmental Permits and
authorization for cutting vegetation, with
the support of the Public Ministry that
oversees the building of these investments.
The Company’s objectives when managing
capital are to safeguard the Company’s
ability to continue to provide returns
for shareholders and benefits for other
stakeholders and to maintain an optimal
capital structure to reduce the cost.
Controlling Company
Note
2012
2011
2012
2011
Total of financing and loans
21
2,032,933
1,841,490
5,046,072
3,905,836
(-) Cash and cash equivalent
4
(87,454)
(257,339)
(612,806)
(624,187)
1,945,479
1,584,151
4,433,266
3,281,649
(=) Net debit
Total of net equity
31
4,659,777
2,631,278
4,659,777
2,631,278
AFAC's
13
554,930
1,810,793
554,930
1,810,793
–
–
2,575,836
1,713,062
7,160,186
6,026,222
12,223,809
9,436,782
27%
26%
36%
35%
Total investment in SPE's
(=) Total capital
Index of financial leverage
d) Estimated Fair Value
It is assumed that the balances of accounts
receivable and accounts payable for the carrying
value minus impairment loss, is close to their
fair values. The fair value of financial liabilities
for disclosure purposes is estimated by
discounting the future contractual cash
flows at the interest rate prevailing in the
market, which is available to the Company
for similar financial instruments.
The Company applies the CPC 40 for financial
instruments measured in the balance sheet
at fair value; this requires disclosure of fair
value measurements by level of the following
hierarchy for fair value measurement:
300
Consolidated
| Annual And Sustainability Report Eletrosul 2012
• Quoted prices (unadjusted) in active
markets for identical assets or liabilities
(level 1)
• Inputs other than quoted prices included
within level 1 that are observable for the
asset or liability, either directly (i.e., as
prices) or indirectly (i.e., as derived from
prices) (level 2).
• Inputs for the asset or liability that are
not based on observable market data
(that is, unobservable inputs) (level 3).
The table below presents the Company’s
assets at fair value at December 31, 2012
and December 31, 2011. The Company has no
liabilities measured at fair value at year basis.
13. Financial Statements and Notes
December, 31 2012
Consolidated
Note
Level 1
Level 2
Level 3
Total
balance
Financial application
4
–
512,676
–
512,676
Escrow and equity-linked deposits
5
–
119,660
–
119,660
Marketable security
4
–
139
–
139
–
632,475
–
632,475
Assets
Total Asset
December, 31 2011
Consolidated
Note
Level 1
Level 2
Level 3
Total
balance
Financial application
4
–
524,294
–
524,294
Escrow and equity-linked deposits
5
–
73,222
–
73,222
Marketable security
4
–
136
–
136
–
597,652
–
597,652
Assets
Total Asset
December, 31 2012
Assets
Controlling Company
Level 1
Financial application
4
–
69,261
–
69,261
Escrow and equity-linked deposits
5
–
101,070
–
101,070
Marketable security
4
–
139
–
139
–
170,470
–
170,470
Total Asset
December, 31 2011
Level 2
Level 3
Total
balance
Note
Controlling Company
Note
Level 1
Level 2
Level 3
Total
balance
Financial application
4
–
246,391
–
246,391
Escrow and equity-linked deposits
5
–
31,533
–
31,533
Marketable security
4
–
136
–
136
–
278,060
–
278,060
Assets
Total Asset
e) Sensitivity Analysis
e.1) Derivative financial instruments
The Company has no derivative financial
instruments. The special purpose entities (SPE)
are jointly controlled, the Energia Sustentável do
Brasil S/A controlled by ESBR Participações S/A
and the Norte Brasil Transmissora de Energia
S/A, both have hedge accounting operations.
Derivative financial instruments contracted
by the Norte Brasil, called Hedge, are meant
to protect their operations against the risk of
fluctuations in exchange rates and changes in
aluminum prices in the international market,
which have significant investment plan. That
hedge was settled in 2012.
Annual And Sustainability Report Eletrosul 2012 |
301
Derivative financial instruments contracted by
the ESRB Participações are intended to reduce
the exposure of certain portions of the contract
to supply turbines for UHE Jirau with the
companies DongFang and Hyosung.
exposure and sudden changes in commodity
prices. Subsidiaries do not have financial
instruments for speculative purposes.
These amounts were not recognized net of
taxes by reflex as an adjustment to equity
investments in the group, as a contra-equity.
These operations aim to reduce currency
e.2) Hedge accounting balances recognized by reflex in Equity:
Consolidated
Norte Brasil
ESBR
2012
2011
–
(8,536)
466
698
466
(7,838)
e.3) Effect of derivatives on the balance sheet:
Efeitos dos derivativos no Balanço Patrimonial
Consolidated
ASSET
Derivatives designated
as hedging
2012
Current
NonCurrent
2011
Total
Current
NonCurrent
Total
Exchange risk and interest rate
SPE: ESBR Participações S/A
Contract 1:
Banco do Brasil
Contract 2: Banco Itaú
2,633
–
2,633
5,631
–
5,631
–
–
–
19,652
–
19,652
–
–
–
2,751
–
2,751
2,633
–
2,633
28,034
–
28,034
SPE: Norte Brasil Transmissora
Contract 1: Citibank LME
Total
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| Annual And Sustainability Report Eletrosul 2012
13. Financial Statements and Notes
Consolidated
LIABILITY
2012
2011
Current
NonCurrent
Total
Current
NonCurrent
Total
Contract 1:
Societe Generale NDF
–
–
–
6,520
–
6,520
Contract 2: Berclays NDF
–
–
–
3,663
–
3,663
–
–
–
10,183
–
10,183
Derivatives designated
as hedging
SPE: Norte Brasil Transmissora
Total
e.4) Mutation of derivatives:
Consolidated
Derivatives designated as hedging
2012
2011
7,838
10,469
(1,793)
(2,098)
2,025
(1,156)
Transfer to adjusments of equity evaluation
(part covered by hedge)
–
1,975
Deferred income tax
–
(1,352)
(8,536)
–
(466)
7,838
Opening balance
Exchange variance over principal
Transfer of adjustments of equity evaluation to fixed asset
Discontinuity of hedge accounting
Final balance
Annual And Sustainability Report Eletrosul 2012 |
303
304
| Annual And Sustainability Report Eletrosul 2012
Total
Contract 1: Banco do Brasil
Exchange risk and interest rate
SPE: ESBR Participações
ASSET
Contract
Assessment of indexes
Total
Contract 1: Banco do Brasil
Exchange risk and interest rate
SPE: ESBR Participações
ASSET
Contract
Index depreciation
2,633
2,633
Fair value of
derivatives on
31.12.2012
2,633
2,633
Fair value of
derivatives on
31.12.2012
2.0435
Index on
31.12.2012
2.0435
Index on
31.12.2012
2.55438
Scene I
(-25%) Index
1.53263
Scene I
(-25%) Index
3.06525
Scene II
(-50%) Index
3,291
3,291
Scene I
(-25%) Value
31.12.2012
1,975
1,975
Scene I
(-25%) Value
Consolidated
1.02175
Scene II
(-50%) Index
31.12.2012
Consolidated
3,950
3,950
Scene II
(-50%) Value
1,317
1,317
Scene II
(-50%) Value
e.5) Foreign currency sensitivity analysis
10,183
3,663
Contract 2: Barclays NDF
Total
6,520
28,034
2,751
19,652
5,631
Fair value of
derivatives on
31.12.2012
Contract 1:
Societe Generale NDF
Exchange risk and interest rate
SPE: Norte Brasil
LIABILITY
Total
Contract 1: Cityibank LME
Exchange risk and interest rate
SPE: Norte Brasil
Contract 2: Banco Itaú
Contract 1: Banco do Brasil
Risco de câmbio e taxa de juros
SPE: ESBR Participações
ASSET
Contract
Index depreciation
1.8758
1.8758
1.8758
1.8758
1.8758
Index on
31.12.2012
1.40685
1.40685
1.40685
1.40685
1.40685
Scene I
(-25%) Index
0.93790
0.93790
0.93790
0.93790
0.93790
Scene II
(-50%) Index
7,637
2,747
4,890
21,025
2,063
14,739
4,223
Scene I
(-25%) Value
31.12.2011
Consolidated
5,092
1,832
3,260
14,018
1,376
9,826
2,816
Scene II
(-50%) Value
13. Financial Statements and Notes
Annual And Sustainability Report Eletrosul 2012 |
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| Annual And Sustainability Report Eletrosul 2012
10,183
3,663
Contract 2: Barclays NDF
Total
6,520
28,034
2,751
19,652
5,631
Fair value of
derivatives on
31.12.2012
Contract 1:
Societe Generale NDF
Exchange risk and interest rate
SPE: Norte Brasil
LIABILITY
Total
Contract 1: Cityibank LME
Exchange risk and interest rate
SPE: Norte Brasil
Contract 2: Banco Itaú
Contract 1: Banco do Brasil
Exchange risk and interest rate
SPE: ESBR Participações
ASSET
Contract
Assessment of indexes
1.8758
1.8758
1.8758
1.8758
1.8758
Index on
31.12.2012
2.34475
2.34475
2.34475
2.34475
2.34475
Scene I
(-25%) Index
2.81370
2.81370
2.81370
2.81370
2.81370
Scene II
(-50%) Index
12,729
4,579
8,150
35,043
3,439
24,565
7,039
Scene I
(-25%) Value
31.12.2011
Consolidated
15,275
5,495
9,780
42,052
4,127
29,478
8,447
Scene II
(-50%) Value
106,107
SELIC
1,840,207
947,913
TJLP
Total
786,187
Balance
IPCA
Financing and loan
LIABILITY
Currency (Risk)
Index depreciation
106,107
SELIC
1,840,207
947,913
TJLP
Total
786,187
Balance
IPCA
Financing and loan
LIABILITY
Currency (Risk)
Index depreciation
7.25%
5.00%
5.65%
Probable
index 2013
7.25%
5.00%
5.65%
Probable
index 2013
9.06%
6.25%
7.06%
Scene I
(+25%)
5.44%
3.75%
4.24%
Scene I
(-25%)
1,765,554
100,335
912,366
752,853
Scene I
(-25%)
10.88%
7.50%
8.48%
Scene II
(+50%)
96,494
888,668
730,682
Scene I
(+25%)
1,715,844
12.31.2012
Controlling Company
3.63%
2.50%
2.83%
Scene II
(-50%)
12.31.2012
Controlling Company
1,690,900
94,563
876,820
719,518
Scene II
(+50%)
1,790,408
102,255
924,215
763,938
Scene II
(-50%)
13. Financial Statements and Notes
e.6) sensitivity analysis of interest rate
Annual And Sustainability Report Eletrosul 2012 |
307
308
| Annual And Sustainability Report Eletrosul 2012
106,107
12,618
4,831,548
SELIC
CDI
Total
786,187
3,926,636
106,107
12,618
4,831,548
IPCA
TJLP
SELIC
CDI
Total
Financing and loan
LIABILITY
Currency (Risk)
Balance
3,926,636
TJLP
Index depreciation
786,187
Balance
IPCA
Financing and loan
LIABILITY
Currency (Risk)
Index depreciation
7.25%
7.25%
5.00%
5.65%
Probable
index 2013
7.25%
7.25%
5.00%
5.65%
Probable
index 2013
9.06%
9.06%
6.25%
7.06%
Scene I
(+25%)
5.44%
5.44%
3.75%
4.24%
Scene I
(-25%)
Scene II
(+50%)
10.88%
10.88%
7.50%
8.48%
4,644,506
11,932
100,335
3,779,387
752,853
Scene I
(-25%)
11,475
96,494
3,681,221
730,682
Scene I
(+25%)
4,519,872
12.31.2012
Consolidated
3.63%
3.63%
2.50%
2.83%
Scene II
(-50%)
12.31.2012
Consolidated
4,457,464
11,245
94,563
3,632,138
719,518
Scene II
(+50%)
4,706,823
12,160
102,255
3,828,470
763,938
Scene II
(-50%)
13. Financial Statements and Notes
NOTA 48 – Property and Rights
of the Union
The Company maintains, in auxiliary registers,
the amount of BRL 5,199 thousand as Assets
Under Management Union (BUSA) on the part
of the substation - SE Alegrete Transmission
Line 138 kV Jupiá / Mimoso I, Transmission Line
138 kV Mimoso / Campo Grande I, Transmission
Line 230 kV Assisi / Londrina, Transmission Line
230 kV Londrina / Apucarana and land located
in the municipality of Capivari de Baixo.
NOTA 49 – Environmental Expenses*
During the year, the Company held the
following investments and environmental
expenses, assets and recognized in the income
statement, as shown below:
Controlling Company
2012
Investment
2011
Result
Investment
Result
Environment Investments
17,658
–
5,860
–
Environment Expenditure
–
3,276
–
4,107
17,658
3,276
5,860
4,107
Total
Environmental investments and expenditures
in the amount of BRL 20,934 thousand in 2012
(BRL 9,967 thousand in 2011), refers to programs
reclamation and preservation of biodiversity, and
environmental education programs and other
environmental projects and are related to the
construction of generation projects: UHE Passo
São João, UHE Santo Domingo, Mauá, João Borges
PCH and PCH Barra do Rio Chapéu as well as
maintenance of transmission lines.
* Information not audited by independent auditors.
NOTA 50 – Generation and
Transmissionauctions
Through energy auction ANEEL, from new
projects, which follows the rules established
by Law 10848 of March 15, 2004, regulated by
Decree No. 5163, of July 30, 2004, the Company
won in 2012 the auction 005/2012 for the
construction, operation and maintenance of
525 kV Transmission Line Nova Santa Rita
–Povo Novo - Marmeleiro - Santa Vitória do
Palmar in simple circuit, SE 525/230 kV
672 MVA Povo Novo, SE 525 kV Marmeleiro,
SE 525/138 kV Santa Vitória do Palmar 75 MVA
Sections of LT 230 kV Camaquã 3 in double
circuit, all located in the state of Rio Grande
do Sul. The project is expected to cost
BRL 710.0 million and Annual Revenue of
BRL 77.4 million. To deploy the enterprise, was
incorporated SPE Transmissora South Coastal
Energy S/A, based in Florianópolis, Santa
Catarina, whose shareholders Eletrosul with
51% and the State Electricity Company of Rio
Grande do Sul S/A (CEEE) with 49%.
Annual And Sustainability Report Eletrosul 2012 |
309
NOTA 51 – Events After the Balance Sheet Date
Capital investments in Investee Companies
Date
SPE
Event
14/01/2013
Livramento
AFAC
13,905
15/01/2013
Marumbi
AFAC
71
15/01/2013
Costa Oeste
AFAC
589
15/01/2013
Santa Vitória
Aporte
21,241
15/01/2013
Chuí
Aporte
22,565
25/01/2013
ESBR
Aporte
30,000
31/01/2013
TSLE
AFAC
15/02/2013
ESBR
Aporte
58,000
15/02/2013
Santa Vitória
Aporte
54
15/02/2013
Chuí
Aporte
7,431
15/02/2013
Costa Oeste
AFAC
648
15/02/2013
Marumbi
AFAC
295
26/02/2013
TSBE
AFAC
30,756
27/02/2013
Costa Oeste
AFAC
192
05/03/2013
Costa Oeste
AFAC
1,246
05/03/2013
Marumbi
AFAC
1,023
08/03/2013
PVTE
AFAC
15,000
Total
Receiving credit for damages – Law 12.783/2013
On January 18, 2013, it was credited a payment
equivalent to 50% of the amount of the
indemnification asset of concession contained
in MP 579 (Law 12.783/13) as option signed
on December 4, 2012 in the amount of
BRL 1,014,994 thousand and payment of
the first installment of the total 31 in the
amount of BRL 45,368 thousand relating to
installment receipt option.
On February 15, 2013, it was credited with
the second installment of the total 31 in the
amount of BRL 45,443 thousand relating to
installment payment of claims for damages
of Law 12.783/2013.
310
Value
| Annual And Sustainability Report Eletrosul 2012
6,120
209,136
Hydroelectric Maua Plant
On January 4, 2013 came into commercial
operation the 4th generation unit and on
January 30, 2013 the 5th and final generating
unit began commercial operations.
Hydroelectric Pequena Central Barra do Rio Chapéu
As Order No. 380 of ANEEL, from the day
February 19, 2013, it was authorized the start
of commercial operation, with the energy
produced by the generating units in the system.
Incorporation of Artemis
Transmissora de Energia S/A
On January 11, 2013, the Extraordinary General
Meeting of Eletrosul approved merger of
13. Financial Statements and Notes
subsidiary Artemis Transmissora de Energia
S/A, without a capital increase.
The incorporation of the net assets of Artemis
is presented below:
ARTEMIS TRANSMISSORA DE ENERGIA S/A
EQUITY BALANCE ON JANUARY 11, 2013
ASSET
CURRENT
Cash and cash equivalent
Concessionaires or
Permissionaires
Other credits receivable
Financial asset amortizable
by RAP
LIABILITY AND NET EQUITY
39,436
22,884
8,152
204
8,196
CURRENT
Financing and loan
Suppliers
247,080
Dividends Payable
15,649
Regulatory charges
2,868
NON-CURRENT
7,815
Financing and loan
Deferred tax
2,310
Deferred tax
169,939
Financial asset Indemnified
67,016
NET EQUITY
Social Capital
Statutory reserve
Retained Earnings reserve
Retained Earnings
TOTAL ASSET
286,516
538
12,289
Related funds
Financial asset amortizable
by RAP
14,908
Tax receivables
Other provisions and
accounts payable
NON-CURRENT
47,194
TOTAL OF LIABILITY AND NET
EQUITY
942
70,047
67,623
2,424
169,275
139,734
6,143
22,417
981
286,516
Annual And Sustainability Report Eletrosul 2012 |
311
ADMINISTRATIVE BOARD
Valter Luiz Cardeal de Souza
President
Eurides Luiz Mescolotto
Advisor
Cláudia Hofmeister
Advisor
Willian Rimet Muniz
Advisor
Dinovaldo Gilioli
Advisor
Celso Knijnik
Advisor
EXECUTIVE DIRECTORS
Eurides Luiz Mescolotto
Executive President
Antonio Waldir Vituri
Financial Administrative Director
Ronaldo dos Santos Custódio
Engineering and Operations Manager
ACCOUNTING DEPARTMENT
Sandro Rodrigues da Silva
Manager of Accounting
Accountant CRC-SC 15360/O-9
Florianópolis, March 21th, 2013.
312
| Annual And Sustainability Report Eletrosul 2012
GRI Index
Indicator
Page / Comments
Profile
1
Strategy and analysis
1.1
Statement presidency
1.2
Key impacts, risks and opportunities
2
Organizational Profile
2.1
Name of organization
2.2
Primary brands, products
and / or services
2.3
Operational structure
2.4
Location of organization's headquarters
2.5
Geographic presence
2.6
Legal nature of the property
2.7
Markets served
2.8
Size of organization
2.9
Significant changes in the year
2.10
3
Awards
Report Parameters
Report Profile
3.1
The reporting period
3.2
Date of previous report
3.3
Periodicity
3.4
Contact info
Scope and boundary of report
3.5
Definition of content
3.6
Boundary of the report
3.7
Limitations on the scope or boundary of
the report
3.8
Basis for and report
Annual And Sustainability Report Eletrosul 2012 |
315
3.9
Technical data measurement and
calculation bases
The calculation methods are described throughout
the report as necessary to support any data.
3.10
Consequences of restatements of
information
There were no restatements during the year
reported in this report
3.11
Significant changes
Summary of contents of the GRI
3.12
GRI Summary
Verification
3.13
4
External verification
Governance, commitments and
engagement
Governance
316
4.1
Governance structure
4.2
Indicate whether the Chair of the highest
governance body is also an executive
officer
www.eletrosul.gov.br/home/conteudo.php?cd=165
4.3
State the number of independent or nonexecutive in the highest governance body
www.eletrosul.gov.br/home/conteudo.php?cd=165
4.4
Mechanisms for shareholders and
employees are recommendations to the
highest governance body
4.5
Linkage between compensation for
members of the highest governance
body, senior managers, and executives
(including departure arrangements)
and the organization's performance
(including social and environmental
performance)
4.6
Processes in place for the highest
governance body to ensure conflicts of
interest are avoided
4.7
Process for determining the
qualifications and expertise of the
members of the highest governance
body to define organization's strategy
on issues and themes of economic,
environmental and social
4.8
Mission, values, codes of conduct,
and principles relevant to economic,
environmental and social
| Annual And Sustainability Report Eletrosul 2012
Commitments to external initiatives
4.11
Precautionary principle
4.12
Charters, principles and initiatives
4.13
Membership in associations
Stakeholder engagement
4.14
List of stakeholder groups engaged
by the organization
4.15
Basis for identification and selection of
stakeholders with whom to engage
4.16
Stakeholder engagement
4.17
Key topics and concerns of stakeholders
5
Management approach and
performance indicators
Economic performance
EC1
Economic value generated
and distributed
EC2
Climate change
EC3
Pension plan
EC5
Ratio between the salary of the lowest
organization and local minimum wage
EC6
Policies, practices and proportion of
spending on local suppliers
The hirings are done via tender of national law,
incompatible with any form of guid-ance in the
selection, which makes is impossible for frauds in
hiring process.
EC7
Local hiring
EC8
Development and impact of
infrastructure investments and services
provided primarily for public benefit
through commercial, in-kind or pro bono.
EC9
Indirect economic impacts
Environmental performance
EN1
Materials used
EN2
Materials used from recycling
Annual And Sustainability Report Eletrosul 2012 |
317
318
EN3
Direct energy consumption broken down
by primary energy source
EN4
Indirect energy
EN5
Energy saved due to efficiency
improvements in conservation
EN6
Products and services with
low power consumption
EN7
Initiatives to reduce indirect energy
consumption
EN8
Total water withdrawal by source
EN9
Water sources significantly affected
by withdrawal of water
EN10
Percentage and total volume
of water recycled and reused
EN11
Location within protected areas
or high biodiversity
EN12
Impacts on biodiversity
EN13
Habitats protected or restored
EN14
Managing impacts on biodiversity
EN15
IUCN Red List
EN16
Direct and indirect emissions of
greenhouse gases
EN17
Other indirect emissions
of greenhouse gases
EN18
Initiatives to reduce emissions
of greenhouse gases
EN19
Emissions of substances that
destroy the ozone layer
EN21
Total water discharge by
quality and destination
EN22
Total weight of waste
EN23
Significant spills
EN24
Hazardous waste transported
Not applicable
| Annual And Sustainability Report Eletrosul 2012
EN25
Identity, size, protected status, and
biodiversity indica of water bodies and
related habitats significantly affected by
discharges of water and runoff held by
the reporting organization
EN26
Initiatives to mitigate environmental
impacts of products and services
EN27
Percentage of products sold and their
packaging materials recovered in relation
to total sales by product category
EN28
Value of fines and penalties for noncompliance with laws
EN29
Significant environmental impacts of
transportation
EN30
Investments and expenditures on
environmental protection
Not applicable
Not applicable
Social Performance
Labor practices
LA1
Total workers
LA2
Total number and rate of hires and
employee turnover
LA3
Benefits
LA4
Collective bargaining
LA5
Minimum notice in advance of
operational changes
LA6
Percentage of total workforce
represented in health and safety
LA7
Rates of injury, occupational diseases, lost
days, absenteeism and deaths
LA8
Education programs, training, counseling,
prevention programs regarding serious
diseases
LA9
Health and safety agreements with
unions
LA10
Hours of training
LA11
Skills management and lifelong learning
Annual And Sustainability Report Eletrosul 2012 |
319
LA12
Performance and career development
LA13
Composition of groups responsible for
cooperate governance and minorities
LA14
Ratio of basic salary and remuneration
of women to men
LA15
Return to work and retention rates
after maternity / paternity leave
Human rights
HR1
Investments and contracts that
include human rights clauses
HR2
Providers assessed and measures taken
HR3
Total hours of employee training on
policies and procedures concerning
aspects of human rights relevant to
operations, including the percentage of
employees who received training
HR4
Total number of incidents of
discrimination and actions taken
HR5
Operations and suppliers at risk the
freedom of association and collective
HR9
Violation of rights of indigenous people
and actions taken
HR11
Number of complaints related to human
rights filed, addressed and resolved
through formal grievance mechanisms
Product Liability
320
PR1
Phases of the life cycle of products
and services in which health impacts
are assessed for improvement,
and percentage of significant
products and services categories
subject to such procedures
Not applicable
PR3
Type of information on products
and services required by procedures,
and percentage of significant
products and services subject to
such information requirements
Not applicable
| Annual And Sustainability Report Eletrosul 2012
PR4
Total number of incidents of noncompliance with regulations and
voluntary codes concerning product
information and labeling of products
and services, by type of outcome
PR5
Practices related to customer satisfaction
PR6
Programs for adherence to laws,
standards and voluntary codes
related to marketing communications
PR7
Non-compliance with regulations
and voluntary codes concerning
marketing communications
PR8
Total number of substantiated
complaints regarding breaches
of customer privacy and losses of
customer data
PR9
Fines concerning the provision
and use of products and services
Not applicable
Not applicable
Society
SO1
Operations with local community
engagement, impact assessments
and development programs
SO2
Analyzed for risks related to corruption
SO3
Employees trained in
anti-corruption policies and
procedures of the organization
SO4
Actions taken in response
to incidents of corruption
SO5
Position regarding public policies
and participation in public policy
development and lobbying
SO6
Contributions to political parties
Because they are mixed capital companies,
Eletrobras are legally prevented from making
financial contributions to political parties,
politicians and related institutions
SO7
Lawsuits for unfair competitions,
practices and monopoly
There are no judicial actions filed
against the company
SO9
Operations with negative impact on local
communities
Annual And Sustainability Report Eletrosul 2012 |
321
SO10
Prevention and mitigation measures
implemented in operations with negative
impacts on local communities
Energy Sector
322
EU1
Installed capacity
EU2
Energy sent to the grid, detailed by
private energy source and by regulatory
regime
Not applicable
EU3
Number of consumer units residential,
industrial, institutional and commercial
Not applicable
EU4
Length of transmission lines and
distribution of overhead and
underground
EU5
Allocation of emission allowances of
CO2 equivalent, broken down by market
structure of carbon credits
EU6
Management approach to ensure the
availability and reliability of electricity
supply in the short and long term
EU7
Programs demanding side management
programs including residential,
commercial, institutional and industrial
EU8
Activities and expenditures for research
and development aimed at the reliability
of electricity supply and the promotion
of sustainable development
EU10
Planned capacity against projected
electricity demand in the long term,
broken down by energy source and by
regulatory regime
EU12
Losses in transmission and distribution
of energy as a percentage of total energy
EU13
Biodiversity of replacement habitats
EU14
Programs and processes that ensure the
availability of skilled labor
EU15
Percentage of employees entitled to
retirement in the next 5 to 10 years
EU16
Policies and requirements regarding
health and safety of employees and
outsourced workers and subcontractors
Not applicable
| Annual And Sustainability Report Eletrosul 2012
EU17
Work days for employees and contractors
engaged in the construction, operation
and maintenance activities
EU18
Percentage of contractor and
subcontractor employees undergo
training relevant health and safety
EU19
Participation of stakeholders in decisionmaking processes related to energy
planning infrastructure development
EU20
Approach to managing impacts
displacement
EU21
Contingency planning measures,
disaster / emergency management plan
and training programs, and recovery /
restoration plans
EU22
Number of people physically
and economically displaced and
compensation
EU23
Programs, including those in partnership
with government, to improvements
or maintain access to electricity and
customer support services if
EU24
Practices to address barriers related
to language, cultural, low literacy and
disability that hinder access to electricity
and care services consumed, as well as its
safe use.
EU25
Number of injuries and fatalities to
the public involving company assets,
including judicial decisions and
agreements, in addition to cases pending
on diseases judicias
EU28
Frequency of power interruption
Not applicable
EU29
Average duration of power interruption
Not applicable
EU30
Average availability factor by energy
source and by regulatory regime
Not applicable
Annual And Sustainability Report Eletrosul 2012 |
323
Amazon Forest - Rondônia
Credits
ELETROSUL expresses our thanks to all those involved in preparing
the Annual Report and Sustainability Report 2012. This document is
the result of the commitment and collaborative work from all areas
of the company, where the involved shared knowledge managed
and added important information that described our actions and
commitments to sustainability. We recognize the human effort
in collecting personal data and survey information concerning
the operational aspects, economic, and environmental partners.
Attitudes like this stimulate the growth of all.
General Coordination
Business consultant - ASG
Formatting and Review
Advisory media and marketing - ACS
Graphic Design and Layout
Horus Ltd. Content
Photos
Alexandre Carvalho, Eletrosul Databank, Anísio Elias Borges,
Hermínio Pires Nunes, Nélio Catarina Pinto,
Vivianne Nunes Santos

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