XML 101 R83.htm IDEA: XBRL DOCUMENT
v3.21.1

35 Financial Instruments (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2020
Financial Instruments [Abstract] |
Schedule of fair value of financial instruments |
35.1 | Categories and determination of fair value of financial instruments
|  |  |  | 12.31.2020 | 12.31.2019 | Restated
| Note | Level | Book value | Fair value | Book value | Fair value
Financial assets |  |  |  |  |  |
Fair value through profit or loss |  |  |  |  |  |
Cash and cash equivalents (a) | 5 | 1 | 3,222,768 | 3,222,768 | 2,941,727 | 2,941,727
Bonds and securities (b) | 6 | 1 | 751 | 751 | 2,429 | 2,429
Bonds and securities (b) | 6 | 2 | 299,779 | 299,779 | 279,652 | 279,652
Accounts receivable - distribution concession (c) | 10.1 and 10.2 | 3 | 1,149,934 | 1,149,934 | 1,161,203 | 1,161,203
Accounts receivable - generation concession (d) | 10.4 | 3 | 81,202 | 81,202 | 69,182 | 69,182
Derivatives fair value - forward contracts (e) | 12 | 3 | 23,308 | 23,308 | - | -
Fair value in the purchase and sale of power (e) | 12 | 3 | 689,531 | 689,531 | 460,635 | 460,635
Other temporary investments (f) |  | 1 | 14,910 | 14,910 | 15,566 | 15,566
Other temporary investments (f) |  | 2 | 7,475 | 7,475 | 12,168 | 12,168
|  |  | 5,489,658 | 5,489,658 | 4,942,562 | 4,942,562
Amortized cost |  |  |  |  |  |
Collaterals and escrow accounts (a) |  |  | 197 | 197 | 147 | 147
Collateral and escrow deposits - STN (g) | 21.1 |  | 133,521 | 113,477 | 98,433 | 94,671
Trade accounts receivable (a) | 7 |  | 3,819,680 | 3,819,680 | 3,182,567 | 3,182,567
CRC Transferred to the Paraná State Government (h) | 8 |  | 1,392,624 | 1,496,016 | 1,350,685 | 1,488,456
Sectorial financial assets (a) | 9 |  | 346,930 | 346,930 | 473,989 | 473,989
Accounts receivable - concessions - bonus from |  |  |  |  |  |
the grant (i) | 10.3 |  | 671,204 | 763,070 | 647,984 | 738,483
|  |  | 6,364,156 | 6,539,370 | 5,753,805 | 5,978,313
Total financial assets |  |  | 11,853,814 | 12,029,028 | 10,696,367 | 10,920,875
Financial liabilities |  |  |  |  |  |
Fair value through profit or loss |  |  |  |  |  |
Fair value in the purchase and sale of power (e) | 28 | 3 | 343,406 | 343,406 | 251,973 | 251,973
Derivatives fair value - forward contracts (e) | 28 | 3 | - | - | 1,203 | 1,203
|  |  | 343,406 | 343,406 | 253,176 | 253,176
Amortized cost |  |  |  |  |  |
Sectorial financial liabilities (a) | 9 |  | 188,709 | 188,709 | 102,284 | 102,284
Ordinary financing of taxes with the federal tax authorities (g) | 13.2 |  | - | - | 18,063 | 18,001
Special Tax Regularization Program - Pert (g) | 13.2 |  | 459,303 | 377,375 | 497,207 | 439,519
PIS and Cofins to be refunded to consumers (a) | 13.2.1 |  | 3,927,823 | 3,927,823 | - | -
Accounts payable to suppliers (a) | 20 |  | 2,436,452 | 2,436,452 | 1,873,193 | 1,873,193
Loans and financing (g) | 21 |  | 3,214,249 | 2,956,696 | 3,168,710 | 3,110,104
Debentures (j) | 22 |  | 6,837,819 | 6,837,819 | 8,540,366 | 8,540,366
Accounts payable related to concession (k) | 26 |  | 731,864 | 811,329 | 612,587 | 690,326
|  |  | 17,796,219 | 17,536,203 | 14,812,410 | 14,773,793
Total financial liabilities |  |  | 18,139,625 | 17,879,609 | 15,065,586 | 15,026,969
Schedule of credit risk | Credit risk is the risk of the Company incurring losses due to a customer or counterparty in a financial instrument, resulting from failure in complying with their contractual obligations.
Exposure to credit risk | 12.31.2020 | 12.31.2019 Restated
Cash and cash equivalents (a) | 3,222,768 | 2,941,727
Bonds and securities (a) | 300,530 | 282,081
Pledges and restricted deposits linked (a) | 133,718 | 98,580
Trade accounts receivable (b) | 3,819,680 | 3,182,567
CRC Transferred to the Paraná State Government (c) | 1,392,624 | 1,350,685
Sectorial financial assets (d) | 346,930 | 473,989
Accounts receivable - distribution concession (e) | 1,149,934 | 1,161,203
Accounts receivable - concessions - Bonus from the grant (f) | 671,204 | 647,984
Accounts receivable - generation concessions (g) | 81,202 | 69,182
Other temporary investments (h) | 22,385 | 27,734
| 11,140,975 | 10,235,732
a) | The Company manages the credit risk of its assets in accordance with the Management’s policy of investing virtually all of its funds in federal banking institutions. As a result of legal and/or regulatory requirements, in exceptional circumstances the Company may invest funds in prime private banks.
b) | The risk arises from the possibility that the Company might incur losses resulting from difficulties to receive its billings to customers. This risk is directly related to internal and external factors to Copel. To mitigate this type of risk, the Company manages its accounts receivable, detecting the classes of consumers most likely to default, implementing specific collection policies and suspending the supply and/or recording of energy and the provision of service, as established in contract and regulatory standards.
c) | Management believes this credit risk is low because repayments are secured by resources from dividends.
d) | Management considers the risk of this credit to be reduced, since the agreements signed guarantee the unconditional right to receive cash at the end of the concession to be paid by the Concession Grantor, corresponding to the costs not recovered through the tariff.
e) | Management considers the risk of this credit to be reduced, since the agreements signed guarantee the unconditional right to receive cash at the end of the concession to be paid by the Concession Grantor, referring to investments in infrastructure not recovered through the tariff.
f) | Management considers the risk of such credit to be low, as the contract for the sale of energy by quotas guarantees the receipt of an Annual Generation Revenue - RAG, which includes the annual amortization of this amount during the concession term.
g) | For the generation concession assets, ANEEL published Normative Resolution 596/2013, which deals with the definition of criteria for calculating the New replacement value (Valor novo de reposição – VNR), for the purposes of indemnification. Management's expectation of indemnification for these assets supports recoverability of the balances recorded.
h) | This risk arises from the possibility that the Company might incur losses resulting from the volatility on the stock market. This type of risk involves external factors and has been managed through periodic assessment of the variations occurred in the market.
Schedule of liquidity risk | As from 2024, 2023 indicators are repeated on an unaltered basis throughout the forecast period.
|  | Less than | 1 to 3 | 3 months | 1 to 5 | Over |
| Interest (a) | 1 month | months | to 1 year | years | 5 years | Total
12.31.2020 |  |  |  |  |  |  |
Loans and financing | Note 21 | 29,274 | 197,056 | 669,153 | 1,570,564 | 1,868,504 | 4,334,551
Debentures | Note 22 | 335,121 | 47,686 | 1,723,107 | 4,953,679 | 1,020,581 | 8,080,174
Accounts payable related | Rate of return + |  |  |  |  |  |
to concession | IGP-M and IPCA | 7,220 | 14,444 | 68,504 | 429,573 | 1,570,984 | 2,090,725
Accounts payable to suppliers | - | 2,034,872 | 309,329 | 26,248 | 66,003 | - | 2,436,452
PIS and Cofins to be refunded |  |  |  |  |  |  |
to consumers | - | - | - | 121,838 | 3,805,985 | - | 3,927,823
Special Tax Regularization Program - Pert | Selic | 4,220 | 8,456 | 38,426 | 225,206 | 270,982 | 547,290
Sectorial financial liabilities | Selic | 15,752 | 31,585 | 143,906 | - | - | 191,243
|  | 2,426,459 | 608,556 | 2,791,182 | 11,051,010 | 4,731,051 | 21,608,258
(a) Effective interest rate - weighted average.
Schedule of sensitivity analysis of foreign currency risk | Additionally, the Company continues to monitor scenarios 1 and 2, which consider a deterioration of 25% and 50%, respectively, in the main risk factor of the financial instrument in relation to the level used in the probable scenario, as a result of extraordinary events that may affect the economic scenario.
. |  | Baseline | Projected scenarios - Dec.2020
Foreign exchange risk | Risk | 12.31.2020 | Probable | Scenario 1 | Scenario 2
. |  |  |  |  |
Financial assets |  |  |  |  |
Collaterals and escrow accounts - STN | USD depreciation | 133,521 | (1,200) | (34,280) | (67,360)
. |  | 133,521 | (1,200) | (34,280) | (67,360)
Financial liabilities |  |  |  |  |
Loans and financing - STN | USD appreciation | (140,337) | 1,261 | (33,508) | (68,277)
Suppliers |  |  |  |  |
Eletrobras (Itaipu) | USD appreciation | (288,640) | 2,594 | (68,918) | (140,429)
Acquisition of gas | USD appreciation | (38,574) | 347 | (9,210) | (18,767)
|  | (467,551) | 4,202 | (111,636) | (227,473)
Schedule of gains (losses) on operations with derivative financial instruments | Additionally, the Company continues to monitor scenarios 1 and 2, which consider the 25% and 50% rise or fall in future quotes applied on the probable scenario, as a result of extraordinary events that may affect the economic scenario.
| Exchange | Baseline | Projected scenarios
| rate variation | 12.31.2020 | Probable | Scenario 1 | Scenario 2
Gains (losses) on operations with derivative financial instruments | Increase | 23,308 | 29,230 | 56,504 | 83,186
| Decrease | 23,308 | 29,230 | 3,140 | (23,541)
Schedule of sensitivity analysis of interest rate and monetary variation risk | Additionally, the Company continues to monitor scenarios 1 and 2, which consider a deterioration of 25% and 50%, respectively, in the main risk factor of the financial instrument in relation to the level used in the probable scenario, as a result of extraordinary events that may affect the economic scenario.
. |  | Baseline | Projected scenarios - Dec.2020
Interest rate risk and monetary variation | Risk | 12.31.2020 | Probable | Scenario 1 | Scenario 2
Financial assets |  |  |  |  |
Bonds and securities | Low CDI/SELIC | 300,530 | 12,023 | 9,014 | 6,011
Collaterals and escrow accounts | Low CDI/SELIC | 197 | 8 | 6 | 4
CRC Transferred to the Paraná State Government | Low IGP-DI | 1,392,624 | 95,395 | 71,546 | 47,697
Sectorial financial assets | Low Selic | 346,930 | 13,877 | 10,408 | 6,939
Accounts receivable - concessions | Low IPCA | 1,821,138 | 72,481 | 54,361 | 36,241
Accounts receivable - generation concessions | Undefined (a) | 81,202 | - | - | -
|  | 3,942,621 | 193,784 | 145,335 | 96,892
Financial liabilities |  |  |  |  |
Loans and financing |  |  |  |  |
Banco do Brasil | High CDI | (640,177) | (25,607) | (32,009) | (38,411)
BNDES | High TJLP | (2,027,581) | (100,974) | (126,217) | (151,460)
BNDES | High IPCA | (273,379) | (10,880) | (13,601) | (16,321)
Banco do Brasil - BNDES Transfer | High TJLP | (83,936) | (4,180) | (5,225) | (6,270)
Caixa Econômica Federal | High TJLP | (165) | (8) | (10) | (12)
Other | No risk | (48,674) | - | - | -
Debentures | High CDI/SELIC | (5,174,803) | (206,992) | (258,740) | (310,488)
Debentures | High IPCA | (1,550,339) | (61,703) | (77,129) | (92,555)
Debentures | High TJLP | (112,677) | (5,611) | (7,014) | (8,417)
Sectorial financial liabilities | High Selic | (188,709) | (7,548) | (9,435) | (11,323)
Special Tax Regularization Program - Pert | High Selic | (459,303) | (18,372) | (22,965) | (27,558)
Accounts payable related to concession | High IGP-M | (678,436) | (60,924) | (76,154) | (91,385)
Accounts payable related to concession | High IPCA | (53,428) | (2,126) | (2,658) | (3,190)
. |  | (11,291,607) | (504,925) | (631,157) | (757,390)
(a) Risk assessment still requires ruling by the Granting Authority.
Schedule of indicators and penalties | Indicators and penalties
Year | Indicator | Criteria | Penalties
Until 2020 | Economic - financial efficiency and quality | 2 consecutive years or at the | Concession termination
end of the 5-year period (2020)
Quality Indicators | 2 consecutive years or | Limitation of dividend and interest on equity distribution
3 times in 5 years
Economic - financial efficiency | in the base year | Capital Increase (a)
Limitation of dividend and interest on equity distribution
Restrictive regime for contracts with related parties
From the 6th year of (2021) | Economic - financial efficiency | 2 consecutive years | Concession termination
Quality Indicators | 3 consecutive years
(a) Within 180 days from the end of each fiscal year, in the totality of the insufficiency that occurs to reach the Minimum Economic and Financial Sustainability Parameter.
Schedule of targets set | Targets defined for Copel Distribuição in the first five years after extension of the concession agreement
|  |  | Quality - limits (a) | Quality (Performed)
Year | Economic and Financial Management | Realized | DECi (b) | FECi (b) | DECi | FECi
2016 |  |  | 13.61 | 9.24 | 10.80 | 7.14
2017 | EBITDA ≥ 0 (c) | 661,391 | 12.54 | 8.74 | 10.41 | 6.79
2018 | EBITDA (-) QRR ≥ 0 (d) | 550,675 | 11.23 | 8.24 | 10,29 | 6,20
2019 | {Net Debt / [EBITDA (-) QRR]} ≤ 1 / (0.8 * SELIC) (e) | 822,386 | 10.12 | 7.74 | 9,10 | 6,00
2020 | {Net Debt / [EBITDA (-) QRR]} ≤ 1 / (1.11 * SELIC) (e) |  | 9.83 | 7.24 | 7.81 | 5.55
(a) According to Aneel’s Technical Note No. 0335/2015.
(b) DECi - Equivalent Time of Interruption Caused by Internal Source per Consumer Unit; and FECi - Equivalent Frequency of Interruption Caused by Internal Source per Consumer Unit.
(c) Regulatory EBTIDA adjusted for non-recurring events (Voluntary retirement program, post-employment benefit, provisions and reversals) according to sub-clause six, of the Fifth Amendment to the Concession Agreement.
(d) QRR: Regulatory Reintegration Quota or Regulatory Depreciation Expense. This is the value defined in the most recent Periodical Tariff Review (RTP), plus General Market Price Index (IGPM) variation between the month preceding the RTP and the month preceding the twelve-month period of the economic and financial sustainability measurement.
(e) Selic: limited to 12.87% p.y.
Schedule of deadline for manifestation | The balances referring to these outstanding transactions as of December 31, 2020 are shown below.
| Assets | Liabilities | Net
Current | 51,359 | (35,298) | 16,061
Noncurrent | 638,172 | (308,108) | 330,064
| 689,531 | (343,406) | 346,125
Schedule of sensitivity analysis on the power purchase and sale transactions in the active market | Additionally, the Company continues to monitor scenarios 1 and 2, which consider the 25% and 50% rise or fall applied to future prices considered in the probable scenario, as a result of extraordinary events that may affect the economic scenario.
| Price | Baseline | Projected scenarios
| variation | 12.31.2020 | Probable | Scenario 1 | Scenario 2
Unrealized gains (losses) on purchase and sale of energy | Increase | 346,125 | 332,741 | 356,496 | 380,117
Decrease | 346,125 | 332,741 | 309,255 | 285,635
Schedule of capital monitored by index | As of December 31, 2020, the ratio attained is shown below:
| 12.31.2020 | 12.31.2019
Loans and financing | 3,188,531 | 3,142,383
Debentures | 6,757,481 | 8,429,710
(-) Cash and cash equivalents | (3,222,768) | (2,941,727)
(-) Bonds and securities (current) | (1,465) | (3,112)
(-) Bonds and securities (noncurrent) - debt contract guarantees | (175,901) | (121,617)
(-) Collaterals and escrow accounts STN | (133,521) | (98,433)
Adjusted net debt | 6,412,357 | 8,407,204
Net income | 3,834,172 | 2,062,869
Equity in earnings of investees | (193,547) | (106,757)
Deferred IRPJ and CSLL | 24,896 | 205,771
Provision for IRPJ and CSLL | 1,260,469 | 433,555
Financial expenses (income), net | (866,271) | 488,486
Depreciation and amortization | 1,009,913 | 1,093,836
Adjusted ebitda | 5,069,632 | 4,177,760
Adjusted net debt/Adjusted ebitda | 1.26 | 2.01
Schedule of debt to equity ratio |
35.3.1 | The debt to equity ratio is shown below:
Indebtedness | 12.31.2020 | 12.31.2019
Loans and financing | 3,214,249 | 3,168,710
Debentures | 6,837,819 | 8,540,366
(-) Cash and cash equivalents | 3,222,768 | 2,941,727
(-) Bonds and securities | 300,530 | 282,081
Net debt | 6,528,770 | 8,485,268
Equity | 20,250,518 | 17,598,212
Debit to equity ratio | 0.32 | 0.48

X
- References No definition available. + Details
Name: | elp_FinancialInstrumentsAbstract
Namespace Prefix: | elp_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Represent information about the gains losses on operations with derivative financial instruments. + References No definition available. + Details
Name: | elp_GainsLossesOnOperationsWithDerivativeFinancialInstrumentsTableTextBlock
Namespace Prefix: | elp_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Represent information about the schedule of indicators and penalties. + References No definition available. + Details
Name: | elp_ScheduleOfIndicatorsAndPenaltiesExplanatory
Namespace Prefix: | elp_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of sensitivity analysis on the power purchase and sale transactions in the active market. + References No definition available. + Details
Name: | elp_ScheduleOfSensitivityAnalysisOnPowerPurchaseAndSaleTransactionsInActiveMarket
Namespace Prefix: | elp_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Represent information about the summary of capital monitored by index. + References No definition available. + Details
Name: | elp_SummaryOfCapitalMonitoredByIndexTableTextBlock
Namespace Prefix: | elp_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Represent information about the summary of credit risk. + References No definition available. + Details
Name: | elp_SummaryOfCreditRiskTableTextBlock
Namespace Prefix: | elp_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Represent information about the summary of deadline for manifestation. + References No definition available. + Details
Name: | elp_SummaryOfDeadlineForManifestationTableTextBlock
Namespace Prefix: | elp_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Represent information about the summary of equity indebtedness. + References No definition available. + Details
Name: | elp_SummaryOfEquityIndebtednessTableTextBlock
Namespace Prefix: | elp_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Represent information about the summary of fair value of financial instruments. + References No definition available. + Details
Name: | elp_SummaryOfFairValueOfFinancialInstrumentsTableTextBlock
Namespace Prefix: | elp_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Represent information about the summary of liquidity risk. + References No definition available. + Details
Name: | elp_SummaryOfLiquidityRiskTableTextBlock
Namespace Prefix: | elp_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Represent information about the summary of sensitivity analysis of foreign currency risk. + References No definition available. + Details
Name: | elp_SummaryOfSensitivityAnalysisOfForeignCurrencyRiskTableTextBlock
Namespace Prefix: | elp_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Represent information about the summary of sensitivity analysis of interest rate and monetary variation risk. + References No definition available. + Details
Name: | elp_SummaryOfSensitivityAnalysisOfInterestRateAndMonetaryVariationRiskTableTextBlock
Namespace Prefix: | elp_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Represent information about the summary of targets set. + References No definition available. + Details
Name: | elp_SummaryOfTargetsSetTableTextBlock
Namespace Prefix: | elp_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration