Companhia Paranaense de Energia - COPEL (ELP) Q4 2022 Earnings Call Transcript

For the period ending December 31, 2022

March 22, 2023 8:00 a.m. ET

Prepared Remarks

Questions and Answers

Call Participants

Prepared Remarks:

Operator

Good morning, ladies and gentlemen and welcome to Companhia Paranaense de Energia - COPEL's Video Conference Call to discuss the earnings of the Fourth Quarter of 2022. This video conference is being recorded, and the replay may be accessed at the company’s IR website, ri.copel.com. The presentation is also available for download. We inform you that all participants will be only watching the video conference during the presentation and we will later begin the questions-and-answer session when further instructions will be provided.

Before proceeding, we inform that forward-looking statements are based on belief and assumptions of COPEL’s management and on information currently available to the company. They involve risks and uncertainties as they relate to future events and therefore depend on circumstances that may or may not occur. Investors, analysts and journalists, should understand that events related to the macroeconomic environment, industry conditions, and other factors may lead to results to differ materially from those expressed in such forward-looking statements.

This video conference is presented by Mr. Daniel Slaviero, CEO of COPEL and Mr. Adriano Rudek de Moura, COPEL's CFO as well as the Directors of the subsidiaries that will be available for the question-and-answer session.

I would like to now turn the floor to Mr. Daniel Slaviero, who will begin the presentation. Please Daniel, you may begin.

Daniel Slaviero

Hello, good morning. I thank you all for participating on our video conference. To begin, I'd like to update you on the transformation process of COPEL into a corporation. And a brief retrospect, in November last year, the State of Paraná announced the Controller's intention to transform COPEL into a dispersed capital company, dispersed ownership without a defined controller, a true corporation, but in November, the legislative powers of Paraná approved the law that authorized this transformation.

One of the main benefits of this change in COPEL's legal nature is the possibility to renew three main plants. In particular, the largest one, Foz do Areia with the concession maturing in the next few months. With that in December of last year the company began studies for the full renewal, not only of Foz do Areia, but also Caxias and Segredo which correspond to 60% of our generation capacity.