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Financial Instruments (Tables) | 12 Months Ended
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Dec. 31, 2023
Notes and other explanatory information [abstract] |
Schedule of fair value of financial instruments |
Schedule of fair value of financial instruments |  |  |  |  |  |
Consolidated |  |  |  | 12.31.2023 |  | 12.31.2022
| 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 | 5,634,623 | 5,634,623 | 2,678,457 | 2,678,457
Bonds and securities (b) | 6 | 2 | 495,495 | 495,495 | 431,056 | 431,056
Accounts receivable - distribution concession (c) | 9.1 | 3 | 1,954,679 | 1,954,679 | 1,442,819 | 1,442,819
Accounts receivable - generation concession (c) | 9.3 | 3 | 71,835 | 71,835 | 68,642 | 68,642
Fair value in the purchase and sale of power (d) | 11 | 3 | 1,101,684 | 1,101,684 | 1,081,758 | 1,081,758
Other temporary investments (e) |  | 1 | 17,864 | 17,864 | 15,372 | 15,372
Other temporary investments (e) |  | 2 | 13,864 | 13,864 | 10,247 | 10,247
|  |  | 9,290,044 | 9,290,044 | 5,728,351 | 5,728,351
Amortized cost |  |  |  |  |  |
Collaterals and escrow accounts (a) |  |  | 9 | 9 | 157 | 157
Trade accounts receivable (a) | 7 |  | 3,866,429 | 3,866,429 | 3,451,869 | 3,451,869
Sectorial financial assets (a) | 8 |  | 30,946 | 30,946 | 381,398 | 381,398
Accounts receivable - concessions - bonus from |  |  |  |  |  |
the grant (g) | 9.2 |  | 792,741 | 893,275 | 766,832 | 866,653
|  |  | 4,690,125 | 4,790,659 | 4,600,256 | 4,700,077
Fair value through other comprehensive income |  |  |  |  |  |
Certified Emission Reductions - CERs (j) |  |  | 3,922 | 3,922 | 10,295 | 10,295
|  |  | 3,922 | 3,922 | 10,295 | 10,295
Total financial assets |  |  | 13,984,091 | 14,084,625 | 10,338,902 | 10,438,723
Financial liabilities |  |  |  |  |  |
Fair value through profit or loss |  |  |  |  |  |
Fair value in the purchase and sale of power (d) | 27 | 3 | 753,584 | 753,584 | 738,703 | 738,703
|  |  | 753,584 | 753,584 | 738,703 | 738,703
Amortized cost |  |  |  |  |  |
Sectorial financial liabilities (a) | 8 |  | 503,991 | 503,991 | 483,255 | 483,255
ICMS installment payment (f) | 12.2.3 |  | 41,286 | 37,777 | 48,320 | 43,419
Special Tax Regularization Program - Pert (f) | 12.2 |  | 379,724 | 322,711 | 404,075 | ;340,025
PIS and Cofins to be refunded to consumers (a) | 12.2.1 |  | 731,726 | 731,726 | 1,995,158 | 1,995,158
Accounts payable to suppliers (a) | 19 |  | 2,285,573 | ;2,285,573 | 2,215,470 | 2,215,470
Loans and financing (f) | 20 |  | 5,387,977 | 5,138,930 | 4,694,957 | 4,171,789
Debentures (h) | 21 |  | 9,738,006 | 9,699,171 | 7,887,077 | 7,688,396
Accounts payable related to concession (i) | 25 |  | 893,855 | 1,018,630 | 937,542 | 1,051,710
|  |  | 19,962,138 | 19,738,509 | 18,665,854 | 17,989,222
Total financial liabilities |  |  | 20,715,722 | 20,492,093 | 19,404,557 | 18,727,925
Different levels are defined as follows: |  |  |  |  |  |
Level 1: Obtained from quoted prices (not adjusted) in active markets for identical assets and liabilities; |  |
Level 2: obtained through other variables in addition to quoted prices included in Level 1, which are observable for the assets or liabilities;
Level 3: obtained through assessment techniques which include variables for the assets or liabilities, which however are not based
on observable market data. |  |  |  |  |  |
Schedule of credit risk with their contractual obligations |
Schedule of credit risk with their contractual obligations |  |
Consolidated |  |
Exposure to credit risk | 12.31.2023 | 12.31.2022
Cash and cash equivalents (a) | 5,634,623 | 2,678,457
Bonds and securities (a) | 495,495 | 431,056
Pledges and restricted deposits linked (a) | 9 | 157
Trade accounts receivable (b) | 3,866,429 | 3,451,869
Sectorial financial assets (c) | 30,946 | 381,398
Accounts receivable - distribution concession (c) | 1,954,679 | 1,442,819
Accounts receivable - concessions - bonus from the grant (d) | 792,741 | 766,832
Accounts receivable - generation concessions (e) | 71,835 | 68,642
Other temporary investments (f) | 31,728 | 25,619
| 12,878,485 | 9,246,849
| a) | The Company manages the credit risk of its assets in accordance with its policy of investing financial resources in federal banking institutions or in private banks with low credit risk, according to the local rating of the main rating agencies.
| b) | Risk of losses resulting from difficulties to receive amounts billed to customers related to internal and external factors. To mitigate this type of risk, the Company manages its accounts receivable, detecting customers 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 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 Granting Authority, corresponding to the costs and investments not recovered through the distribution electrical energy tariff.
| d) | 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.
| e) | For the generation concession assets, Aneel published Normative Resolution 596/2013, which deals with the definition of criteria for calculating the New replacement value (VNR), for the purposes of indemnification. In July 2021, Normative Resolution No. 942/2021 was published, later covered by Normative Resolution No. 1027/2022, which regulated the calculation of these values through the presentation of appraisal reports to be prepared by accredited companies. In August 2022, Copel filed with Aneel the assessment reports related to the residual values, with a base date of July 2015, for the HPP Governador Parigot de Souza - GPS and HPP Mourão - MOU, which, since January 2023, are being inspected by the regulatory agency. Management's expectation of indemnification for these assets supports recoverability of the balances recorded.
| f) | Risk arising from the possibility of the Company incurring losses due to stock market volatility. This type of risk involves external factors and is being managed through periodic assessments of the variations in the market.
Schedule of liquidity risk |
Schedule of liquidity risk |  |  |  |  |  |  |
Consolidated |  | Less than | 1 to 3 | 3 months | 1 to 5 | Over |
| Interest (a) | 1 month | months | to 1 year | years | 5 years | Total
12.31.2023 |  |  |  |  |  |  |
Loans and financing | Note 20 | 41,912 | 177,623 | 842,349 | 3,215,105 | 3,369,102 | 7,646,091
Debentures | Note 21 | 116,823 | 12,567 | 1,885,073 | 7,556,981 | 3,819,348 | 13,390,792
Accounts payable related | Rate of return + |  |  |  |  |  |
to concession | IGP-M and IPCA | 9,152 | 18,323 | 83,621 | 476,872 | 1,754,922 | 2,342,890
Accounts payable to suppliers | - | 1,997,850 | 216,264 | 16,393 | 55,066 | - | 2,285,573
PIS and Cofins to be refunded |  |  |  |  |  |  |
to consumers | Note 12.2.1 | - | - | 558,591 | 231,114 | - | 789,705
Special Tax Regularization Program - Pert | Selic | 5,234 | 10,564 | 49,005 | 295,609 | 89,727 | 450,139
ICMS installment payment | Selic | 953 | 1,922 | 8,902 | 34,709 | - | 46,486
Sectorial financial liabilities | Selic | 40,037 | 81,141 | 381,780 | 32,158 | - | 535,116
Lease liability | Note 26 | 1,960 | 3,913 | 14,253 | 57,921 | 319,791 | 397,838
|  | 2,213,921 | 522,317 | 3,839,967 | 11,955,535 | 9,352,890 | 27,884,630
(a) Effective interest rate - weighted average. |  |  |  |  |  |
Schedule of sensitivity analysis of foreign currency risk |
Schedule of sensitivity analysis of foreign currency risk |  |  |  |  |
. |  | Baseline | Projected scenarios
Foreign exchange risk | Risk | 12.31.2023 | Probable | Scenario 1 | Scenario 2
. |  |  |  |  |
Financial liabilities |  |  |  |  |
Suppliers |  |  |  |  |
Itaipu | USD appreciation | (194,730) | (3,166) | (52,639) | (102,113)
|  | (194,730) | (3,166) | (52,639) | (102,113)
Schedule of gain (losses) on operations with derivative financial instruments |
Schedule of gain (losses) on operations with derivative financial instruments |  |  |  |  |
. |  | Baseline | Projected scenarios
Interest rate risk and monetary variation | Risk | 12.31.2023 | Probable | Scenario 1 | Scenario 2
. |  |  |  |  |
Financial assets |  |  |  |  |
Bonds and securities | Low CDI/Selic | 495,495 | 44,593 | 33,445 | 22,296
Collaterals and escrow accounts | Low CDI/Selic | 9 | 1 | 1 | -
Sectorial financial assets | Low Selic | 30,946 | 2,785 | 2,089 | 1,393
Accounts receivable - concessions | Low IPCA | 2,747,420 | 106,050 | 79,538 | 53,025
Accounts receivable - generation concessions | Undefined (a) | 71,835 | - | - | -
|  | 3,345,705 | 153,429 | 115,073 | 76,714
Financial liabilities |  |  |  |  |
Loans and financing |  |  |  |  |
Banco do Brasil | High CDI | (751,096) | (67,599) | (84,498) | (101,398)
Banco Itaú | High CDI | (1,039,097) | (93,519) | (116,898) | (140,278)
BNDES | High TJLP | (1,560,824) | (100,363) | (125,454) | (150,545)
BNDES | High IPCA | (392,709) | (15,159) | (18,948) | (22,738)
Banco do Nordeste | High IPCA | (1,584,566) | (61,164) | (76,455) | (91,746)
Banco do Brasil - BNDES Transfer | High TJLP | (49,263) | (3,168) | (3,960) | (4,752)
Other | No risk | (10,422) | - | - | -
Debentures | High CDI/Selic | (6,587,635) | (592,887) | (741,109) | (889,331)
Debentures | High IPCA | (3,067,627) | (118,410) | (148,013) | (177,616)
Debentures | High TJLP | (82,744) | (5,321) | (6,651) | (7,981)
Sectorial financial liabilities | High Selic | (503,991) | (45,359) | (56,699) | (68,039)
ICMS installment payment | High Selic | (41,286) | (3,716) | (4,645) | (5,574)
Special Tax Regularization Program - Pert | High Selic | (379,724) | (34,175) | (42,719) | (51,263)
Accounts payable related to concession | High IGP-M | (828,695) | (33,479) | (41,849) | (50,219)
Accounts payable related to concession | High IPCA | (65,160) | (2,515) | (3,144) | (3,773)
. |  | (16,944,839) | (1,176,834) | (1,471,042) | (1,765,253)
(a) Risk assessment still requires ruling by the Concession grantor.
Schedule of indicators and penalties |
Schedule of indicators and penalties |  |  |
Year | Indicator | Criteria | Penalties
From 2021 | Economic - financial efficiency | in the base year | Capital Increase (a)
Limitation on distribution of dividends and interest on capital
Restrictive regime for contracts with related parties
2 consecutive years | Concession termination
Quality Indicators | in the base year | Results plan
2 consecutive years or 3 of the previous 5 calendar years | Limitation on distribution of dividends and interest on capital
3 consecutive years | Concession termination
(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 |
Schedule of targets set |  |  |  |  |  |
|  |  | Quality - limits | Quality - performed
Year | Economic and Financial Management | Realized | DECi | FECi | DECi | FECi
2022 | {Net Debt / [EBITDA (-) QRR ≥ 0]} ≤ 1 / (1,11 * Selic) | Achieved | 9.19 | 6.80 | 7.98 | 5.29
2023 | {Net Debt / [EBITDA (-) QRR ≥ 0]} ≤ 1 / (1,11 * Selic) | - | 8.69 | 6.39 | 7.86 | 5.21
Net Debt: Gross debt deducted from financial assets, with the exception of financial assets and financial liabilities in administrative or judicial discussion. The accounts that make up the gross debt and financial assets are defined in the attachment VIII to Aneel Resolution No 948/2021.
QRR: Regulatory Reinstatement Share or Regulatory Depreciation Expense. This value will be the one defined in the last Periodic Tariff Review, updated by the variation of the Regulatory Portion B and calculated on a pro rata basis.
Recurring EBITDA: Earnings Before Interest (Financial Result), Taxes (Income Taxes), Depreciation and Amortization.
Quality indicators: For the years 2022 to 2026, the annual thresholds are set out in Resolution No. 10,231/2021.
Schedule of notional values of the electricity commercialization contracts |
Schedule of notional values of the electricity commercialization contracts |  |
. | Purchase | Sale
2024 | 721,208 | 800,793
2025 | 806,521 | 865,199
2026 | 691,420 | 720,295
2027 | 621,240 | 597,938
2028 | 423,561 | 494,941
2029 to 2040 | 3,060,268 | 3,888,123
| 6,324,218 | 7,367,289
Schedule of outstanding transactions of financial statements |
Schedule of outstanding transactions of financial statements |  |  |
Consolidated | Assets | Liabilities | Net
Current | 379,261 | (321,646) | 57,615
Noncurrent | 722,423 | (431,938) | 290,485
| 1,101,684 | (753,584) | 348,100
Schedule of sensitivity analysis of energy purchase and sale operations |
Schedule of sensitivity analysis of energy purchase and sale operations |  |  |  |  |
Consolidated | Price | Baseline | Projected scenarios
| variation | 12.31.2023 | Probable | Scenario 1 | Scenario 2
Unrealized gains (losses) on energy purchase and sale operations | Increase | 348,100 | 348,100 | 303,302 | 258,504
| Decrease | 348,100 | 348,100 | 392,897 | 437,695
Schedule of capital monitored by index |
Schedule of capital monitored by index |  |
| 12.31.2023 | 12.31.2022 (a)
Loans and financing | 5,343,217 | 4,650,363
Debentures | 9,619,106 | 7,803,855
(-) Cash and cash equivalents | (5,634,623) | (2,678,457)
(-) Bonds and securities - debt contract guarantees | (405,342) | (290,695)
Adjusted net debt | 8,922,358 | 9,485,066
Net income | 2,327,168 | 1,149,321
Net income from discontinued operations | (191,501) | -
Net income from continuing operations | 2,135,667 | 1,149,321
Equity in earnings of investees | (307,809) | (478,577)
Deferred IRPJ and CSLL | (17,047) | (628,389)
Provision for IRPJ and CSLL | 371,104 | 429,267
Financial expenses (income), net | 1,204,990 | 1,966,037
Depreciation and amortization | 1,382,040 | 1,300,982
Provision for allocation of PIS and Cofins credits | - | 810,563
(-/+) Impairment | (177,693) | 84,387
Adjusted ebitda | 4,591,252 | 4,633,591
Adjusted net debt/Adjusted ebitda | 1.94 | 2.05
(a) The balances as of December 31, 2022 do not consider the reclassification of the discontinued operation as they reflect the calculation of the indicator based on the scenario existing on that date.
Schedule of debt to equity ratio |
Schedule of debt to equity ratio |  |
Indebtedness | 12.31.2023 | 12.31.2022
Loans and financing | 5,343,217 | 4,650,363
Debentures | 9,619,106 | 7,803,855
(-) Cash and cash equivalents | (5,634,623) | (2,678,457)
(-) Bonds and securities - debt contract guarantees | (405,342) | (290,695)
Adjusted net debt | 8,922,358 | 9,485,066
Equity | 24,191,667 | 21,131,225
Debt to equity ratio | 0.37 | 0.45

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