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Investments | 12 Months Ended
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Dec. 31, 2017
Text block1 [abstract] |
Investments |
16. | INVESTMENTS
This table provides a summary of the financial information of affiliated companies and jointly-controlled entities. The information below reflects the percentage of the Company’s equity interest in each company.
|  | Control |  |  | 2017 |  |  | 2016 |
Hidrelétrica Cachoeirão |  |  | Jointly-controlled |  |  |  | 58 |  |  |  | 50 |
Guanhães Energia |  |  | Jointly-controlled |  |  |  | 25 |  |  |  | — |
Hidrelétrica Pipoca |  |  | Jointly-controlled |  |  |  | 26 |  |  |  | 32 |
Retiro Baixo |  |  | Jointly-controlled |  |  |  | 158 |  |  |  | 162 |
Aliança Norte (Belo Monte plant) |  |  | Jointly-controlled |  |  |  | 577 |  |  |  | 527 |
Madeira Energia (Santo Antônio plant) (2) |  |  | Affiliated |  |  |  | 535 |  |  |  | 644 |
FIP Melbourne (Santo Antônio plant) (2) |  |  | Affiliated |  |  |  | 582 |  |  |  | 677 |
Lightger |  |  | Jointly-controlled |  |  |  | 41 |  |  |  | 42 |
Baguari Energia |  |  | Jointly-controlled |  |  |  | 148 |  |  |  | 162 |
Renova |  |  | Jointly-controlled |  |  |  | 282 |  |  |  | 689 |
Aliança Geração |  |  | Jointly-controlled |  |  |  | 1,242 |  |  |  | 1,319 |
Central Eólica Praias de Parajuru |  |  | Jointly-controlled |  |  |  | 60 |  |  |  | 63 |
Central Eólica Volta do Rio |  |  | Jointly-controlled |  |  |  | 68 |  |  |  | 81 |
Central Eólica Praias de Morgado |  |  | Jointly-controlled |  |  |  | 51 |  |  |  | 60 |
Amazônia Energia (Belo Monte Plant) |  |  | Jointly-controlled |  |  |  | 867 |  |  |  | 781 |
Usina Hidrelétrica Itaocara S.A. |  |  | Jointly-controlled |  |  |  | 4 |  |  |  | 3 |
Light |  |  | Jointly-controlled |  |  |  | 1,534 |  |  |  | 1,070 |
Taesa |  |  | Jointly-controlled |  |  |  | 1,101 |  |  |  | 1,583 |
Ativas Data Center (2) |  |  | Affiliated |  |  |  | 17 |  |  |  | 18 |
LEPSA (1) |  |  | Subsidiary |  |  |  | — |  |  |  | 344 |
RME |  |  | Jointly-controlled |  |  |  | 383 |  |  |  | 339 |
Companhia Transleste de Transmissão |  |  | Jointly-controlled |  |  |  | — |  |  |  | 22 |
Companhia Transudeste de Transmissão |  |  | Jointly-controlled |  |  |  | — |  |  |  | 21 |
Companhia Transirapé de Transmissão |  |  | Jointly-controlled |  |  |  | — |  |  |  | 24 |
Companhia de Transmissão Centroeste de Minas |  |  | Jointly-controlled |  |  |  | 21 |  |  |  | 21 |
Axxiom Soluções Tecnológicas |  |  | Jointly-controlled |  |  |  | 12 |  |  |  | 19 |
Total of investments |  |  |  |  |  |  | 7,792 |  |  |  | 8,753 |
Guanhães – Uncovered liabilities of jointly-controlled entity |  |  | Jointly-controlled |  |  |  | — |  |  |  | (59 | )
Total |  |  |  |  |  |  | 7,792 |  |  |  | 8,694 |
(1) | On November 2017, the Company acquired all the shares of Lepsa, and therefore as from that date now consolidates that company in its financial statements. Lepsa’s sole asset is comprised of an investment in common and preferred shares in Light. Hence the Company no longer presents the investment that it previously held in Lepsa in its consolidated financial statements, presenting only the interest in Light.
(2) | The Company’s investees that are not consolidated are jointly-controlled entities, with the exception of the interest in the Santo Antônio power plant, and Ativas Data Center, which are affiliated companies in which the interests held (by Cemig GT and Cemig Telecom, respectively) exercise significant influence. It was as from the fourth quarter of 2016 that Ativas Data Center became an investee in which Cemig has significant influence.
a) | Right to exploitation of the regulated activity
In the process of allocation of the acquisition price of the jointly-controlled subsidiaries, a valuation was made of the intangible assets relating to the right to operate the regulated activity. This asset is presented together with the acquisition cost of the investments in the previous table. These assets will be amortized over the remaining period of the concessions on the straight-line basis.
|  | 2014 |  |  | Amortization |  |  | 2015 |  |  | Addition |  |  | Amortization |  |  | Written off |  |  | 2016 |  |  | Amortization |  |  | Written off |  |  | 2017 |
Taesa |  |  | 433 |  |  |  | (18 | ) |  |  | 415 |  |  |  | — |  |  |  | (18 | ) |  |  | (109 | ) |  |  | 288 |  |  |  | (13 | ) |  |  | (86 | ) |  |  | 189 |
Light |  |  | 253 |  |  |  | (22 | ) |  |  | 231 |  |  |  | — |  |  |  | (22 | ) |  |  | — |  |  |  | 209 |  |  |  | (23 | ) |  |  | — |  |  |  | 186 |
Gasmig |  |  | 220 |  |  |  | (5 | ) |  |  | 215 |  |  |  | — |  |  |  | (8 | ) |  |  | — |  |  |  | 207 |  |  |  | (7 | ) |  |  | — |  |  |  | 200 |
Lepsa |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 50 |  |  |  | (1 | ) |  |  | — |  |  |  | 49 |  |  |  | (6 | ) |  |  | (43 | ) |  |  | — |
RME |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 49 |  |  |  | (1 | ) |  |  | — |  |  |  | 48 |  |  |  | (5 | ) |  |  | — |  |  |  | 43 |
Total |  |  | 906 |  |  |  | (45 | ) |  |  | 861 |  |  |  | 99 |  |  |  | (50 | ) |  |  | (109 | ) |  |  | 801 |  |  |  | (54 | ) |  |  | (129 | ) |  |  | 618 |
b) | The movement of Investments in the jointly-controlled entities in 2017, 2016 and 2015, is as follows:
|  | 2016 |  |  | Gain (loss) by equity method (Income statement) |  |  | Gain (loss) by equity method (Other comprehensive income) |  |  | Dividends |  |  | Injections / acquisitions |  |  | Sales |  |  | Others |  |  | 2017 |
Companhia Transleste de Transmissão |  |  | 22 |  |  |  | 5 |  |  |  | — |  |  |  | (7 | ) |  |  | — |  |  |  | (20 | ) |  |  | — |  |  |  | — |
Companhia Transudeste de Transmissão |  |  | 21 |  |  |  | 3 |  |  |  | — |  |  |  | (12 | ) |  |  | — |  |  |  | (12 | ) |  |  | — |  |  |  | — |
Companhia Transirapé de Transmissão |  |  | 24 |  |  |  | 4 |  |  |  | — |  |  |  | (6 | ) |  |  | — |  |  |  | (22 | ) |  |  | — |  |  |  | — |
Companhia de Transmissão Centroeste de Minas |  |  | 21 |  |  |  | 5 |  |  |  | — |  |  |  | (5 | ) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 21 |
Light |  |  | 1,070 |  |  |  | 35 |  |  |  | (3 | ) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 432 |  |  |  | 1,534 |
Axxiom Soluções Tecnológicas |  |  | 19 |  |  |  | (7 | ) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 12 |
Lepsa |  |  | 344 |  |  |  | — |  |  |  | (2 | ) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (342 | ) |  |  | — |
RME |  |  | 339 |  |  |  | 7 |  |  |  | (2 | ) |  |  | — |  |  |  | 38 |  |  |  | — |  |  |  | 1 |  |  |  | 383 |
Hidrelétrica Cachoeirão |  |  | 50 |  |  |  | 10 |  |  |  | — |  |  |  | (3 | ) |  |  | — |  |  |  | — |  |  |  | 1 |  |  |  | 58 |
Guanhães Energia (1) |  |  | — |  |  |  | (13 | ) |  |  | — |  |  |  | — |  |  |  | 97 |  |  |  | — |  |  |  | (59 | ) |  |  | 25 |
Hidrelétrica Pipoca |  |  | 32 |  |  |  | 2 |  |  |  | — |  |  |  | (8 | ) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 26 |
Madeira Energia (Santo Antônio plant) |  |  | 644 |  |  |  | (109 | ) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 535 |
FIP Melbourne (Santo Antônio plant) |  |  | 677 |  |  |  | (95 | ) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 582 |
Lightger |  |  | 42 |  |  |  | 2 |  |  |  | — |  |  |  | (3 | ) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 41 |
Baguari Energia |  |  | 162 |  |  |  | 17 |  |  |  | — |  |  |  | (30 | ) |  |  | — |  |  |  | — |  |  |  | (1 | ) |  |  | 148 |
Central Eólica Praias de Parajuru |  |  | 63 |  |  |  | (1 | ) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (2 | ) |  |  | 60 |
Central Eólica Volta do Rio |  |  | 81 |  |  |  | (12 | ) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (1 | ) |  |  | 68 |
Central Eólica Praias de Morgado |  |  | 60 |  |  |  | (8 | ) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (1 | ) |  |  | 51 |
Amazônia Energia (Belo Monte Plant) |  |  | 781 |  |  |  | 1 |  |  |  | — |  |  |  | — |  |  |  | 85 |  |  |  | — |  |  |  | — |  |  |  | 867 |
Ativas Data Center |  |  | 18 |  |  |  | (2 | ) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 1 |  |  |  | 17 |
Taesa |  |  | 1,583 |  |  |  | 216 |  |  |  | — |  |  |  | (183 | ) |  |  | — |  |  |  | (515 | ) |  |  | — |  |  |  | 1,101 |
Renova |  |  | 689 |  |  |  | (390 | ) |  |  | (34 | ) |  |  | — |  |  |  | 18 |  |  |  | — |  |  |  | (1 | ) |  |  | 282 |
Usina Hidrelétrica Itaocara S.A. |  |  | 3 |  |  |  | (2 | ) |  |  | — |  |  |  | — |  |  |  | 3 |  |  |  | — |  |  |  | — |  |  |  | 4 |
Aliança Geração |  |  | 1,319 |  |  |  | 72 |  |  |  | — |  |  |  | (149 | ) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 1,242 |
Aliança Norte (Belo Monte plant) |  |  | 527 |  |  |  | (2 | ) |  |  | — |  |  |  | — |  |  |  | 51 |  |  |  | — |  |  |  | 1 |  |  |  | 577 |
Retiro Baixo |  |  | 162 |  |  |  | 10 |  |  |  | — |  |  |  | (14 | ) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 158 |
Total of investments |  |  | 8,753 |  |  |  | (252 | ) |  |  | (41 | ) |  |  | (420 | ) |  |  | 292 |  |  |  | (569 | ) |  |  | 29 |  |  |  | 7,792 |
Guanhães Energia – Uncovered liabilities of jointly-controlled entity (1) |  |  | (59 | ) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 59 |  |  |  | — |
|  |  | 8,694 |  |  |  | (252 | ) |  |  | (41 | ) |  |  | (420 | ) |  |  | 292 |  |  |  | (569 | ) |  |  | 88 |  |  |  | 7,792 |
1) | Uncovered liability reversed through injection of capital.
|  | 2015 |  |  | Equity method gain (Statement of income) |  |  | Gain (loss) by equity method (Other comprehensive income) |  |  | Dividends |  |  | Injections / acquisitions |  |  | Sales |  |  | Merger |  |  | Other |  |  | 2016 |
Companhia Transleste de Transmissão |  |  | 18 |  |  |  | 6 |  |  |  | — |  |  |  | (2 | ) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 22 |
Companhia Transudeste de Transmissão |  |  | 18 |  |  |  | 4 |  |  |  | — |  |  |  | (1 | ) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 21 |
Companhia Transirapé de Transmissão |  |  | 19 |  |  |  | 5 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 24 |
Transchile |  |  | 108 |  |  |  | 2 |  |  |  | (23 | ) |  |  | — |  |  |  | — |  |  |  | (87 | ) |  |  | — |  |  |  | — |  |  |  | — |
Companhia de Transmissão Centroeste de Minas |  |  | 18 |  |  |  | 5 |  |  |  | — |  |  |  | (2 | ) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 21 |
Light |  |  | 1,188 |  |  |  | (121 | ) |  |  | 3 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 1,070 |
Axxiom Soluções Tecnológicas |  |  | 24 |  |  |  | (5 | ) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 19 |
Lepsa |  |  | — |  |  |  | (18 | ) |  |  | 1 |  |  |  | (57 | ) |  |  | 252 |  |  |  | — |  |  |  | 166 |  |  |  | — |  |  |  | 344 |
RME |  |  | — |  |  |  | (20 | ) |  |  | — |  |  |  | (58 | ) |  |  | 247 |  |  |  | — |  |  |  | 169 |  |  |  | 1 |  |  |  | 339 |
Hidrelétrica Cachoeirão |  |  | 42 |  |  |  | 10 |  |  |  | — |  |  |  | (2 | ) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 50 |
Guanhães Energia (1) |  |  | 19 |  |  |  | (103 | ) |  |  | — |  |  |  | — |  |  |  | 25 |  |  |  | — |  |  |  | — |  |  |  | 59 |  |  |  | — |
Hidrelétrica Pipoca |  |  | 27 |  |  |  | 5 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 32 |
Madeira Energia (Santo Antônio Plant through Madeira Energia) |  |  | 676 |  |  |  | (71 | ) |  |  | — |  |  |  | — |  |  |  | 39 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 644 |
FIP Melbourne (Santo Antônio Plant through Madeira Energia) |  |  | 703 |  |  |  | (63 | ) |  |  | — |  |  |  | — |  |  |  | 40 |  |  |  | — |  |  |  | — |  |  |  | (3 | ) |  |  | 677 |
LightGer |  |  | 37 |  |  |  | 5 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 42 |
Baguari Energia |  |  | 187 |  |  |  | 41 |  |  |  | — |  |  |  | (14 | ) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (52 | ) |  |  | 162 |
Central Eólica Praias de Parajuru |  |  | 63 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 63 |
Central Eólica Volta do Rio |  |  | 85 |  |  |  | (4 | ) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 81 |
Central Eólica Praias de Morgado |  |  | 62 |  |  |  | (2 | ) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 60 |
Amazônia Energia (Belo Monte Plant through Norte Energia) |  |  | 495 |  |  |  | (6 | ) |  |  | — |  |  |  | — |  |  |  | 292 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 781 |
Ativas Data Center (2) |  |  | — |  |  |  | (31 | ) |  |  | — |  |  |  | — |  |  |  | 99 |  |  |  | — |  |  |  | — |  |  |  | (50 | ) |  |  | 18 |
Parati |  |  | 358 |  |  |  | (24 | ) |  |  | 1 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (335 | ) |  |  | — |  |  |  |  |
Taesa |  |  | 2,242 |  |  |  | 342 |  |  |  | — |  |  |  | (382 | ) |  |  | — |  |  |  | (619 | ) |  |  | — |  |  |  | — |  |  |  | 1,583 |
Renova (3) |  |  | 1,527 |  |  |  | (372 | ) |  |  | 19 |  |  |  | — |  |  |  | 278 |  |  |  | — |  |  |  | — |  |  |  | (763 | ) |  |  | 689 |
Usina Hidrelétrica Itaocara S.A. |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 3 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 3 |
Aliança Geração |  |  | 1,327 |  |  |  | 104 |  |  |  | — |  |  |  | (112 | ) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 1,319 |
Aliança Norte (Belo Monte Plant through Norte Energia) |  |  | 354 |  |  |  | (7 | ) |  |  | — |  |  |  | — |  |  |  | 180 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 527 |
Retiro Baixo |  |  | 148 |  |  |  | 16 |  |  |  | — |  |  |  | (2 | ) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 162 |
Total of investments |  |  | 9,745 |  |  |  | (302 | ) |  |  | 1 |  |  |  | (632 | ) |  |  | 1,455 |  |  |  | (706 | ) |  |  | — |  |  |  | (808 | ) |  |  | 8,753 |
Ativas Data Center – Uncovered liabilities of jointly-controlled entity |  |  | (28 | ) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 28 |  |  |  | — |
Guanhães Energia – Uncovered liabilities of jointly-controlled entity |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (59 | ) |  |  | (59 | )
Total |  |  | 9,717 |  |  |  | (302 | ) |  |  | 1 |  |  |  | (632 | ) |  |  | 1,455 |  |  |  | (706 | ) |  |  | — |  |  |  | (839 | ) |  |  | 8,694 |
(1) | Transfer to uncovered liabilities.
(2) | The amount of R$ 50 refers to the dilution of shareholding interest arising from subscription of share capital by a new shareholder.
(3) | The amount of R$ 763 refers to the impairment of intangible concession assets resulting from the financial difficulties of Renova.
|  | 2014 |  |  | Equity method gain (Statement of income) |  |  | Equity method gain (Other comprehensive income) |  |  | Dividends |  |  | Injections / acquisitions |  |  | Other |  |  | 2015 |
Companhia Transleste de Transmissão |  |  | 14 |  |  |  | 8 |  |  |  | — |  |  |  | (4 | ) |  |  | — |  |  |  | — |  |  |  | 18 |
Companhia Transudeste de Transmissão |  |  | 13 |  |  |  | 5 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 18 |
Companhia Transirapé de Transmissão |  |  | 13 |  |  |  | 6 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 19 |
Transchile |  |  | 67 |  |  |  | 5 |  |  |  | 36 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 108 |
Companhia de Transmissão Centroeste de Minas |  |  | 22 |  |  |  | 2 |  |  |  | — |  |  |  | (6 | ) |  |  | — |  |  |  | — |  |  |  | 18 |
Light |  |  | 1,198 |  |  |  | (11 | ) |  |  | 2 |  |  |  | (1 | ) |  |  | — |  |  |  | — |  |  |  | 1,188 |
Axxiom Soluções Tecnológicas |  |  | 23 |  |  |  | 1 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 24 |
Hidrelétrica Cachoeirão |  |  | 34 |  |  |  | 8 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 42 |
Guanhães Energia |  |  | 69 |  |  |  | (49 | ) |  |  | — |  |  |  | (1 | ) |  |  | — |  |  |  | — |  |  |  | 19 |
Hidrelétrica Pipoca |  |  | 28 |  |  |  | 2 |  |  |  | — |  |  |  | (3 | ) |  |  | — |  |  |  | — |  |  |  | 27 |
Madeira Energia (Santo Antônio plant through Madeira Energia) |  |  | 674 |  |  |  | 2 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 676 |
FIP Melbourne (Santo Antônio plant through Madeira Energia) |  |  | 708 |  |  |  | (5 | ) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 703 |
Lightger |  |  | 38 |  |  |  | (1 | ) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 37 |
Baguari Energia |  |  | 193 |  |  |  | 12 |  |  |  | — |  |  |  | (18 | ) |  |  | — |  |  |  | — |  |  |  | 187 |
Central Eólica Praias de Parajuru |  |  | 62 |  |  |  | 2 |  |  |  | — |  |  |  | (1 | ) |  |  | — |  |  |  | — |  |  |  | 63 |
Central Eólica Volta do Rio |  |  | 84 |  |  |  | 2 |  |  |  | — |  |  |  | (1 | ) |  |  | — |  |  |  | — |  |  |  | 85 |
Central Eólica Praias de Morgado |  |  | 62 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 62 |
Amazônia Energia (Belo Monte Plant through Norte Energia) |  |  | 395 |  |  |  | (19 | ) |  |  | — |  |  |  | (1 | ) |  |  | 120 |  |  |  | — |  |  |  | 495 |
Ativas Data Center |  |  | — |  |  |  | (28 | ) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 28 |  |  |  | — |
Epícares Empreendimentos (1) |  |  | 92 |  |  |  | 1 |  |  |  | — |  |  |  | 1 |  |  |  | — |  |  |  | (94 | ) |  |  | — |
Parati |  |  | 372 |  |  |  | 3 |  |  |  | — |  |  |  | (17 | ) |  |  | — |  |  |  | — |  |  |  | 358 |
Taesa |  |  | 2,188 |  |  |  | 383 |  |  |  | — |  |  |  | (329 | ) |  |  | — |  |  |  | — |  |  |  | 2,242 |
Renova |  |  | 1,538 |  |  |  | (25 | ) |  |  | 15 |  |  |  | (1 | ) |  |  | — |  |  |  | — |  |  |  | 1,527 |
Aliança Geração |  |  | 3 |  |  |  | 107 |  |  |  | — |  |  |  | (93 | ) |  |  | 581 |  |  |  | 729 |  |  |  | 1,327 |
Aliança Norte (Belo Monte Plant through Norte Energia) |  |  | — |  |  |  | (13 | ) |  |  | — |  |  |  | — |  |  |  | 367 |  |  |  | — |  |  |  | 354 |
Retiro Baixo |  |  | 150 |  |  |  | (5 | ) |  |  | — |  |  |  | — |  |  |  | 3 |  |  |  | — |  |  |  | 148 |
Total of investments |  |  | 8,040 |  |  |  | 393 |  |  |  | 53 |  |  |  | (475 | ) |  |  | 1,071 |  |  |  | 663 |  |  |  | 9,745 |
Ativas Data Center – Uncovered liabilities of jointly-controlled entity |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (28 | ) |  |  | (28 | )
Total |  |  | 8,040 |  |  |  | 393 |  |  |  | 53 |  |  |  | (475 | ) |  |  | 1,071 |  |  |  | 635 |  |  |  | 9,717 |
(1) | The amount of R$ 94 refers to the assets subscribed to constitute Aliança Geração;
c) | Information from the subsidiaries and jointly-controlled entities:
Company |  | Number of shares |  |  | 2017 |  |  | 2016 |  |  | 2015 |
|  | Cemig interest % |  |  | Share capital |  |  | Equity |  |  | Cemig interest % |  |  | Share capital |  |  | Equity |  |  | Cemig interest % |  |  | Share capital |  |  | Equity |
Cemig Geração e Transmissão |  |  | 2,896,785,358 |  |  |  | 100.00 |  |  |  | 1,838 |  |  |  | 4,794 |  |  |  | 100.00 |  |  |  | 1,838 |  |  |  | 4,583 |  |  |  | 100.00 |  |  |  | 1,838 |  |  |  | 4,684 |
Hidrelétrica Cachoeirão |  |  | 35,000,000 |  |  |  | 49.00 |  |  |  | 35 |  |  |  | 118 |  |  |  | 49.00 |  |  |  | 35 |  |  |  | 103 |  |  |  | 49.00 |  |  |  | 35 |  |  |  | 83 |
Guanhães Energia |  |  | 330,536,000 |  |  |  | 49.00 |  |  |  | 331 |  |  |  | 51 |  |  |  | 49.00 |  |  |  | 186 |  |  |  | — |  |  |  | 49.00 |  |  |  | 138 |  |  |  | 38 |
Hidrelétrica Pipoca |  |  | 41,360,000 |  |  |  | 49.00 |  |  |  | 41 |  |  |  | 53 |  |  |  | 49.00 |  |  |  | 41 |  |  |  | 65 |  |  |  | 49.00 |  |  |  | 41 |  |  |  | 54 |
Retiro Baixo |  |  | 222,850,000 |  |  |  | 49.90 |  |  |  | 223 |  |  |  | 258 |  |  |  | 49.90 |  |  |  | 223 |  |  |  | 264 |  |  |  | 49.90 |  |  |  | 223 |  |  |  | 296 |
Aliança Norte (Belo Monte Plant) |  |  | 3,622,440,125 |  |  |  | 49.00 |  |  |  | 1,119 |  |  |  | 1,066 |  |  |  | 49.00 |  |  |  | 1,014 |  |  |  | 1,077 |  |  |  | 49.00 |  |  |  | 647 |  |  |  | 723 |
Madeira Energia (Santo Antônio Plant) |  |  | 9,730,201,137 |  |  |  | 18.13 |  |  |  | 9,547 |  |  |  | 5,327 |  |  |  | 18.13 |  |  |  | 10,152 |  |  |  | 6,419 |  |  |  | 18.05 |  |  |  | 9,762 |  |  |  | 7,642 |
Lightger |  |  | 79,078,937 |  |  |  | 49.00 |  |  |  | 79 |  |  |  | 83 |  |  |  | 49.00 |  |  |  | 79 |  |  |  | 85 |  |  |  | 49.00 |  |  |  | 79 |  |  |  | 76 |
Baguari Energia S.A. (1) |  |  | 26,157,300,278 |  |  |  | 69.39 |  |  |  | 187 |  |  |  | 214 |  |  |  | 69.39 |  |  |  | 187 |  |  |  | 248 |  |  |  | 69.39 |  |  |  | 262 |  |  |  | 270 |
Renova (2) |  |  | 417,197,244 |  |  |  | 36.23 |  |  |  | 2,919 |  |  |  | 780 |  |  |  | 34.15 |  |  |  | 2,856 |  |  |  | 1,956 |  |  |  | 27.37 |  |  |  | 2,526 |  |  |  | 5,581 |
Aliança Geração |  |  | 1,291,582,500 |  |  |  | 45.00 |  |  |  | 1,291 |  |  |  | 1,858 |  |  |  | 45.00 |  |  |  | 1,291 |  |  |  | 1,973 |  |  |  | 45.00 |  |  |  | 1,291 |  |  |  | 2,949 |
Central Eólica Praias de Parajuru |  |  | 70,560,000 |  |  |  | 49.00 |  |  |  | 71 |  |  |  | 89 |  |  |  | 49.00 |  |  |  | 71 |  |  |  | 89 |  |  |  | 49.00 |  |  |  | 71 |  |  |  | 129 |
Central Eólica Volta do Rio |  |  | 117,230,000 |  |  |  | 49.00 |  |  |  | 117 |  |  |  | 116 |  |  |  | 49.00 |  |  |  | 117 |  |  |  | 137 |  |  |  | 49.00 |  |  |  | 117 |  |  |  | 174 |
Central Eólica Praias de Morgado |  |  | 52,960,000 |  |  |  | 49.00 |  |  |  | 53 |  |  |  | 54 |  |  |  | 49.00 |  |  |  | 53 |  |  |  | 65 |  |  |  | 49.00 |  |  |  | 53 |  |  |  | 127 |
Amazônia Energia (1) (Belo Monte Plant) |  |  | 1,229,600,123 |  |  |  | 74.50 |  |  |  | 1,230 |  |  |  | 1,163 |  |  |  | 74.50 |  |  |  | 1,116 |  |  |  | 1,048 |  |  |  | 74.50 |  |  |  | 723 |  |  |  | 665 |
Usina Hidrelétrica Itaocara S.A. |  |  | 11,102,420 |  |  |  | 49.00 |  |  |  | 11 |  |  |  | 8 |  |  |  | 49.00 |  |  |  | 6 |  |  |  | 6 |  |  |  | — |  |  |  | — |  |  |  | — |
Cemig Distribuição |  |  | 2,359,113,452 |  |  |  | 100.00 |  |  |  | 2,772 |  |  |  | 3,737 |  |  |  | 100.00 |  |  |  | 2,362 |  |  |  | 2,500 |  |  |  | 100.00 |  |  |  | 2,362 |  |  |  | 2,696 |
Light |  |  | 203,934,060 |  |  |  | 26.06 |  |  |  | 2,226 |  |  |  | 3,462 |  |  |  | 26.06 |  |  |  | 2,226 |  |  |  | 3,354 |  |  |  | 26.06 |  |  |  | 2,226 |  |  |  | 4,558 |
CemigTelecom |  |  | 448,340,822 |  |  |  | 100.00 |  |  |  | 292 |  |  |  | 247 |  |  |  | 100.00 |  |  |  | 242 |  |  |  | 192 |  |  |  | 100.00 |  |  |  | 225 |  |  |  | 169 |
Rosal Energia |  |  | 46,944,467 |  |  |  | 100.00 |  |  |  | 47 |  |  |  | 107 |  |  |  | 100.00 |  |  |  | 47 |  |  |  | 141 |  |  |  | 100.00 |  |  |  | 47 |  |  |  | 122 |
Sá Carvalho |  |  | 361,200,000 |  |  |  | 100.00 |  |  |  | 37 |  |  |  | 103 |  |  |  | 100.00 |  |  |  | 37 |  |  |  | 106 |  |  |  | 100.00 |  |  |  | 37 |  |  |  | 103 |
Gasmig |  |  | 409,255,483 |  |  |  | 99.57 |  |  |  | 665 |  |  |  | 1,224 |  |  |  | 99.57 |  |  |  | 665 |  |  |  | 1,426 |  |  |  | 99.57 |  |  |  | 665 |  |  |  | 1,408 |
Horizontes Energia |  |  | 39,257,563 |  |  |  | 100.00 |  |  |  | 39 |  |  |  | 53 |  |  |  | 100.00 |  |  |  | 39 |  |  |  | 52 |  |  |  | 100.00 |  |  |  | 64 |  |  |  | 71 |
Usina Térmica Ipatinga |  |  | 174,281 |  |  |  | 100.00 |  |  |  | — |  |  |  | 5 |  |  |  | 100.00 |  |  |  | — |  |  |  | 4 |  |  |  | 100.00 |  |  |  | — |  |  |  | 4 |
Cemig PCH |  |  | 35,952,000 |  |  |  | 100.00 |  |  |  | 36 |  |  |  | 97 |  |  |  | 100.00 |  |  |  | 36 |  |  |  | 92 |  |  |  | 100.00 |  |  |  | 36 |  |  |  | 85 |
Lepsa |  |  | 1,379,839,905 |  |  |  | 100.00 |  |  |  | 406 |  |  |  | 456 |  |  |  | 66.62 |  |  |  | 438 |  |  |  | 443 |  |  |  | — |  |  |  | — |  |  |  | — |
RME |  |  | 1,365,421,406 |  |  |  | 75.00 |  |  |  | 403 |  |  |  | 453 |  |  |  | 66.27 |  |  |  | 434 |  |  |  | 440 |  |  |  | — |  |  |  | — |  |  |  | — |
Companhia Transleste de Transmissão |  |  | 49,569,000 |  |  |  | — |  |  |  | 50 |  |  |  | — |  |  |  | 25.00 |  |  |  | 50 |  |  |  | 81 |  |  |  | 25.00 |  |  |  | 50 |  |  |  | 73 |
UTE Barreiro |  |  |  |  |  |  | 100.00 |  |  |  | 17 |  |  |  | 18 |  |  |  | 100.00 |  |  |  | 31 |  |  |  | 39 |  |  |  | 100.00 |  |  |  | 31 |  |  |  | 30 |
Companhia Transudeste de Transmissão |  |  | 30,000,000 |  |  |  | — |  |  |  | 30 |  |  |  | — |  |  |  | 24.00 |  |  |  | 30 |  |  |  | 85 |  |  |  | 24.00 |  |  |  | 30 |  |  |  | 73 |
Empresa de Comercialização de Energia Elétrica |  |  | 486,000 |  |  |  | 100.00 |  |  |  | — |  |  |  | 18 |  |  |  | 100.00 |  |  |  | — |  |  |  | 20 |  |  |  | 100.00 |  |  |  | — |  |  |  | 9 |
Companhia Transirapé de Transmissão |  |  | 22,340,490 |  |  |  | — |  |  |  | 22 |  |  |  | — |  |  |  | 24.50 |  |  |  | 22 |  |  |  | 98 |  |  |  | 24.50 |  |  |  | 22 |  |  |  | 79 |
Transchile |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 49.00 |  |  |  | 237 |  |  |  | 221 |
Efficientia |  |  | 6,051,994 |  |  |  | 100.00 |  |  |  | 6 |  |  |  | 7 |  |  |  | 100.00 |  |  |  | 6 |  |  |  | 5 |  |  |  | 100.00 |  |  |  | 6 |  |  |  | 6 |
Cemig Comercializadora de Energia Incentivada |  |  | 1,000,000 |  |  |  | 100.00 |  |  |  | 1 |  |  |  | 2 |  |  |  | 100.00 |  |  |  | 1 |  |  |  | 2 |  |  |  | 100.00 |  |  |  | 5 |  |  |  | 6 |
Companhia de Transmissão Centroeste de Minas |  |  | 28,000,000 |  |  |  | 51.00 |  |  |  | 28 |  |  |  | 40 |  |  |  | 51.00 |  |  |  | 28 |  |  |  | 42 |  |  |  | 51.00 |  |  |  | 28 |  |  |  | 34 |
Cemig Trading |  |  | 1,000,000 |  |  |  | 100.00 |  |  |  | 1 |  |  |  | 29 |  |  |  | 100.00 |  |  |  | 1 |  |  |  | 29 |  |  |  | 100.00 |  |  |  | — |  |  |  | 30 |
Axxiom Soluções Tecnológicas |  |  | 17,200,000 |  |  |  | 49.00 |  |  |  | 47 |  |  |  | 24 |  |  |  | 49.00 |  |  |  | 47 |  |  |  | 39 |  |  |  | 49.00 |  |  |  | 47 |  |  |  | 49 |
Parati |  |  | 1,432,910,602 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 25.00 |  |  |  | 1,433 |  |  |  | 1,431 |
Taesa |  |  | 1,033,496,721 |  |  |  | 21.68 |  |  |  | 3,042 |  |  |  | 4,347 |  |  |  | 31.54 |  |  |  | 3,042 |  |  |  | 4,308 |  |  |  | 43.36 |  |  |  | 3,042 |  |  |  | 5,171 |
(1) | Jointly-control under a Shareholders’ Agreement.
(2) | Due to the increase in the equity interest in Renova, there was a loss item of R$2 million reflecting the fact that Renova reported a loss for the year 2016.
On December 31, 2017, the current liabilities of some jointly-controlled entities exceeded their current assets, as follows: Light: On December 31, 2017, Light had consolidated negative working capital of R$ 1,355 (R$ 1,259 on December 31, 2016). The management of Light has been negotiating the renewal of short-term loans and financings, and is in the process of extending its debt maturity profile in 2018 through new issues of debt instruments. Management believes that by extending its debt maturity profile the current financial situation will be reverted. Madeira Energia (‘Mesa’): The excess of current liabilities over current assets, equal to R$ 1,474 (R$ 1,611 in 2016), arises mainly from the balances of the accounts Suppliers, Other liabilities and Loans and financings. Mesa expects to adjust the flow of its debt servicing payments with the BNDES and the onlending banks, and the release of funds from the reserve account to be allocated to these payments, which will be replaced by a bank guarantee and operational cash generation. Renova Energia: In 2017, Renova Energia reported accumulated losses of R$ 2,195 (R$ 1,101 in 2016 and R$ 93 in 2015), and current liabilities of R$ 1,607 (R$ 3,211 in 2016) in excess of current assets. Renova Energia is required to obtain capital to comply with the construction commitments of wind and solar generating plants. For this purpose it has taken several measures to rebalance its liquidity and cash flow structure through the sale of assets, using the funds to pay suppliers and amortize debt, as well as optimizing the portfolio, with sale of projects and/or operational assets. The management of Renova Energia believes that with the success of these measures it will be possible to recover the economic and financial equilibrium, and liquidity. Management has analyzed the indications of impairment referred to above and, based on available information and believes that there is no material uncertainty as to the continuation of the operations of these investees. The balances for the affiliated companies and jointly-controlled entities, at December 31, 2017, 2016 and 2015, are as follows:
2017 |  | Centroeste |  |  | RME |  |  | Light |  |  | Taesa |  |  | Axxiom |  |  | Aliança Norte |  |  | Itaocara |  |  | Lightger |  |  | Amazônia Energia |  |  | Aliança Geração |
Assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current |  |  | 56 |  |  |  | 2 |  |  |  | 4,250 |  |  |  | 1,970 |  |  |  | 46 |  |  |  | 1 |  |  |  | 5 |  |  |  | 51 |  |  |  | — |  |  |  | 622 |
Cash and cash equivalents |  |  | 17 |  |  |  | 1 |  |  |  | 342 |  |  |  | 2 |  |  |  | 3 |  |  |  | — |  |  |  | 5 |  |  |  | 1 |  |  |  | — |  |  |  | 468 |
Non-current |  |  | 1 |  |  |  | 451 |  |  |  | 11,181 |  |  |  | 6,608 |  |  |  | 11 |  |  |  | 1,065 |  |  |  | 11 |  |  |  | 142 |  |  |  | 1,163 |  |  |  | 2,398 |
Total assets |  |  | 57 |  |  |  | 453 |  |  |  | 15,431 |  |  |  | 8,578 |  |  |  | 57 |  |  |  | 1,066 |  |  |  | 16 |  |  |  | 193 |  |  |  | 1,163 |  |  |  | 3,020 |
Liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current |  |  | 4 |  |  |  | — |  |  |  | 5,575 |  |  |  | 736 |  |  |  | 29 |  |  |  | — |  |  |  | 1 |  |  |  | 31 |  |  |  | — |  |  |  | 448 |
Suppliers |  |  | — |  |  |  | — |  |  |  | 2,023 |  |  |  | 48 |  |  |  | 1 |  |  |  | — |  |  |  | 1 |  |  |  | 20 |  |  |  | — |  |  |  | 44 |
Loans and financings – Current |  |  | 3 |  |  |  | — |  |  |  | 1,373 |  |  |  | — |  |  |  | 5 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 84 |
Non-current |  |  | 13 |  |  |  | — |  |  |  | 6,394 |  |  |  | 3,495 |  |  |  | 4 |  |  |  | — |  |  |  | 7 |  |  |  | 79 |  |  |  | — |  |  |  | 714 |
Equity |  |  | 40 |  |  |  | 453 |  |  |  | 3,462 |  |  |  | 4,347 |  |  |  | 24 |  |  |  | 1,066 |  |  |  | 8 |  |  |  | 83 |  |  |  | 1,163 |  |  |  | 1,858 |
Total liabilities |  |  | 57 |  |  |  | 453 |  |  |  | 15,431 |  |  |  | 8,578 |  |  |  | 57 |  |  |  | 1,066 |  |  |  | 16 |  |  |  | 193 |  |  |  | 1,163 |  |  |  | 3,020 |
Statement of income |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net sales revenue |  |  | 15 |  |  |  | — |  |  |  | 11,315 |  |  |  | 1,104 |  |  |  | 43 |  |  |  | — |  |  |  | — |  |  |  | 42 |  |  |  | — |  |  |  | 920 |
Cost of sales |  |  | (4 | ) |  |  | — |  |  |  | — |  |  |  | (209 | ) |  |  | (55 | ) |  |  | — |  |  |  | (4 | ) |  |  | (28 | ) |  |  | — |  |  |  | (554 | )
Depreciation and amortization |  |  | (1 | ) |  |  | — |  |  |  | — |  |  |  | (1 | ) |  |  | (2 | ) |  |  | — |  |  |  | — |  |  |  | (11 | ) |  |  | — |  |  |  | (127 | )
Gross profit (loss) |  |  | 11 |  |  |  | — |  |  |  | 11,315 |  |  |  | 895 |  |  |  | (12 | ) |  |  | — |  |  |  | (4 | ) |  |  | 14 |  |  |  | — |  |  |  | 366 |
General and administrative expenses |  |  | — |  |  |  | (1 | ) |  |  | (9,941 | ) |  |  | (124 | ) |  |  | (7 | ) |  |  | (1 | ) |  |  | — |  |  |  | (2 | ) |  |  | (1 | ) |  |  | (11 | )
Finance income |  |  | 2 |  |  |  | 16 |  |  |  | 136 |  |  |  | 368 |  |  |  | 1 |  |  |  | — |  |  |  | — |  |  |  | 4 |  |  |  | 2 |  |  |  | 30 |
Finance expenses |  |  | (2 | ) |  |  | — |  |  |  | (1,212 | ) |  |  | (434 | ) |  |  | (1 | ) |  |  | — |  |  |  | — |  |  |  | (9 | ) |  |  | — |  |  |  | (65 | )
Operational profit (loss) |  |  | 11 |  |  |  | 15 |  |  |  | 298 |  |  |  | 705 |  |  |  | (19 | ) |  |  | (1 | ) |  |  | (4 | ) |  |  | 7 |  |  |  | 1 |  |  |  | 320 |
Income and Social Contribution taxes |  |  | (1 | ) |  |  | — |  |  |  | (174 | ) |  |  | (58 | ) |  |  | 6 |  |  |  | — |  |  |  | — |  |  |  | (3 | ) |  |  | — |  |  |  | (104 | )
Net income (loss) for the year |  |  | 10 |  |  |  | 15 |  |  |  | 124 |  |  |  | 647 |  |  |  | (13 | ) |  |  | (1 | ) |  |  | (4 | ) |  |  | 4 |  |  |  | 1 |  |  |  | 216 |
Comprehensive income (loss) effects |  |  | — |  |  |  | (2 | ) |  |  | (15 | ) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Comprehensive income (loss) for the year |  |  | 10 |  |  |  | 13 |  |  |  | 109 |  |  |  | 647 |  |  |  | (13 | ) |  |  | (1 | ) |  |  | (4 | ) |  |  | 4 |  |  |  | 1 |  |  |  | 216 |
The “Transmineiras” companies (Companhia Transleste de Transmissão S.A.; Companhia Transudeste de Transmissão S.A. and Companhia Transirapé de Transmissão S.A.) were removed from the table for 2017, due to their sale in November 2017. LEPSA is not presented in the 2017 table due to the fact that it has been under the Company’s control since November 2017.
2017 |  | Hidrelétrica Cachoeirão |  |  | Baguari Energia |  |  | Guanhães Energia |  |  | Madeira Energia |  |  | Hidrelétrica Pipoca |  |  | Retiro Baixo |  |  | Renova |  |  | Central Eólica de Parajuru |  |  | Central Eólica de Morgado |  |  | Central Eólica Volta do Rio |
Assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current |  |  | 51 |  |  |  | 29 |  |  |  | 11 |  |  |  | 557 |  |  |  | 15 |  |  |  | 23 |  |  |  | 32 |  |  |  | 41 |  |  |  | 11 |  |  |  | 16 |
Cash and cash equivalents |  |  | 46 |  |  |  | 5 |  |  |  | 7 |  |  |  | 55 |  |  |  | 6 |  |  |  | 14 |  |  |  | — |  |  |  | 35 |  |  |  | 7 |  |  |  | 5 |
Non-current |  |  | 87 |  |  |  | 209 |  |  |  | 42 |  |  |  | 23,594 |  |  |  | 95 |  |  |  | 366 |  |  |  | 1,679 |  |  |  | 121 |  |  |  | 136 |  |  |  | 233 |
Total assets |  |  | 138 |  |  |  | 238 |  |  |  | 53 |  |  |  | 24,151 |  |  |  | 110 |  |  |  | 389 |  |  |  | 1,711 |  |  |  | 162 |  |  |  | 147 |  |  |  | 249 |
Liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current |  |  | 10 |  |  |  | 18 |  |  |  | 2 |  |  |  | 2,031 |  |  |  | 18 |  |  |  | 27 |  |  |  | 395 |  |  |  | 26 |  |  |  | 90 |  |  |  | 126 |
Suppliers |  |  | 1 |  |  |  | 10 |  |  |  | — |  |  |  | 203 |  |  |  | 6 |  |  |  | 3 |  |  |  | 25 |  |  |  | 1 |  |  |  | 2 |  |  |  | 1 |
Non-current |  |  | 10 |  |  |  | 6 |  |  |  | — |  |  |  | 16,793 |  |  |  | 39 |  |  |  | 104 |  |  |  | 536 |  |  |  | 47 |  |  |  | 3 |  |  |  | 7 |
Equity |  |  | 118 |  |  |  | 214 |  |  |  | 51 |  |  |  | 5,327 |  |  |  | 53 |  |  |  | 258 |  |  |  | 780 |  |  |  | 89 |  |  |  | 54 |  |  |  | 116 |
Total liabilities |  |  | 138 |  |  |  | 238 |  |  |  | 53 |  |  |  | 24,151 |  |  |  | 110 |  |  |  | 389 |  |  |  | 1,711 |  |  |  | 162 |  |  |  | 147 |  |  |  | 249 |
Statement of income |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net sales revenue |  |  | 39 |  |  |  | 64 |  |  |  | — |  |  |  | 2,971 |  |  |  | 29 |  |  |  | 67 |  |  |  | — |  |  |  | 21 |  |  |  | 14 |  |  |  | 22 |
Cost of sales |  |  | (17 | ) |  |  | (37 | ) |  |  | (1 | ) |  |  | (1,859 | ) |  |  | (18 | ) |  |  | (34 | ) |  |  | (5 | ) |  |  | (16 | ) |  |  | (17 | ) |  |  | (28 | )
Depreciation and amortization |  |  | (4 | ) |  |  | (9 | ) |  |  | — |  |  |  | — |  |  |  | (3 | ) |  |  | (10 | ) |  |  | (5 | ) |  |  | (10 | ) |  |  | (10 | ) |  |  | (17 | )
Gross profit (loss) |  |  | 22 |  |  |  | 27 |  |  |  | (1 | ) |  |  | 1,112 |  |  |  | 11 |  |  |  | 33 |  |  |  | (5 | ) |  |  | 5 |  |  |  | (3 | ) |  |  | (6 | )
General and administrative expenses |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (817 | ) |  |  | (1 | ) |  |  | — |  |  |  | — |  |  |  | (2 | ) |  |  | (1 | ) |  |  | (3 | )
Provision for loss |  |  | — |  |  |  | — |  |  |  | (22 | ) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Financial income |  |  | 4 |  |  |  | 6 |  |  |  | 1 |  |  |  | 115 |  |  |  | 2 |  |  |  | 3 |  |  |  | 4 |  |  |  | 3 |  |  |  | 2 |  |  |  | 3 |
Finance expenses |  |  | (2 | ) |  |  |  |  |  |  | (3 | ) |  |  | (1,551 | ) |  |  | (5 | ) |  |  | (11 | ) |  |  | (1,260 | ) |  |  | (6 | ) |  |  | (8 | ) |  |  | (12 | )
Operational profit (loss) |  |  | 24 |  |  |  | 33 |  |  |  | (25 | ) |  |  | (1,141 | ) |  |  | 7 |  |  |  | 25 |  |  |  | (1,261 | ) |  |  | — |  |  |  | (10 | ) |  |  | (18 | )
Income and Social Contribution taxes |  |  | (3 | ) |  |  | (11 | ) |  |  | — |  |  |  | 49 |  |  |  | (2 | ) |  |  | (3 | ) |  |  | 121 |  |  |  | — |  |  |  | (1 | ) |  |  | (3 | )
Net income (loss) for the year |  |  | 21 |  |  |  | 22 |  |  |  | (25 | ) |  |  | (1,092 | ) |  |  | 5 |  |  |  | 22 |  |  |  | (1,140 | ) |  |  | — |  |  |  | (11 | ) |  |  | (21 | )
Comprehensive income (loss) effects |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (99 | ) |  |  | — |  |  |  | — |  |  |  | — |
Comprehensive income (loss) for the year |  |  | 21 |  |  |  | 22 |  |  |  | (25 | ) |  |  | (1,092 | ) |  |  | 5 |  |  |  | 22 |  |  |  | (1,239 | ) |  |  | — |  |  |  | (11 | ) |  |  | (21 | )
2016 |  | Parati |  |  | Transleste |  |  | Transirapé |  |  | Centroeste |  |  | Transudeste |  |  | Lepsa |  |  | RME |  |  | Light |  |  | Taesa |  |  | Axxiom |  |  | Aliança Norte |
Assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current |  |  | 12 |  |  |  | 50 |  |  |  | 41 |  |  |  | 61 |  |  |  | 32 |  |  |  | 6 |  |  |  | 3 |  |  |  | 3,612 |  |  |  | 1,955 |  |  |  | 66 |  |  |  | 2 |
Cash and cash equivalents |  |  | 8 |  |  |  | 3 |  |  |  | 2 |  |  |  | 20 |  |  |  | 4 |  |  |  | — |  |  |  | — |  |  |  | 668 |  |  |  | 102 |  |  |  | 9 |  |  |  | 2 |
Non-current |  |  | 1,327 |  |  |  | 123 |  |  |  | 122 |  |  |  | 1 |  |  |  | 78 |  |  |  | 437 |  |  |  | 437 |  |  |  | 10,718 |  |  |  | 6,456 |  |  |  | 13 |  |  |  | 1,075 |
Total assets |  |  | 1,339 |  |  |  | 173 |  |  |  | 163 |  |  |  | 62 |  |  |  | 110 |  |  |  | 443 |  |  |  | 440 |  |  |  | 14,330 |  |  |  | 8,411 |  |  |  | 79 |  |  |  | 1,077 |
|  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Liabilities |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Current |  |  | — |  |  |  | 28 |  |  |  | 33 |  |  |  | 5 |  |  |  | 22 |  |  |  | — |  |  |  | — |  |  |  | 4,871 |  |  |  | 1,074 |  |  |  | 32 |  |  |  | — |
Suppliers |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 1,342 |  |  |  | 37 |  |  |  | 1 |  |  |  | — |
Loans and financings – Current |  |  | — |  |  |  | 18 |  |  |  | 19 |  |  |  | 3 |  |  |  | 19 |  |  |  | — |  |  |  | — |  |  |  | 15,568 |  |  |  | 9 |  |  |  | 10 |  |  |  | — |
Non-current |  |  | — |  |  |  | 63 |  |  |  | 32 |  |  |  | 15 |  |  |  | 3 |  |  |  | — |  |  |  | — |  |  |  | 6,105 |  |  |  | 3,029 |  |  |  | 8 |  |  |  | — |
Equity |  |  | 1,339 |  |  |  | 82 |  |  |  | 98 |  |  |  | 42 |  |  |  | 85 |  |  |  | 443 |  |  |  | 440 |  |  |  | 3,354 |  |  |  | 4,308 |  |  |  | 39 |  |  |  | 1,077 |
Total liabilities |  |  | 1,339 |  |  |  | 173 |  |  |  | 163 |  |  |  | 62 |  |  |  | 110 |  |  |  | 443 |  |  |  | 440 |  |  |  | 14,330 |  |  |  | 8,411 |  |  |  | 79 |  |  |  | 1,077 |
|  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Statement of income |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Net sales revenue |  |  | — |  |  |  | 34 |  |  |  | 45 |  |  |  | 13 |  |  |  | 22 |  |  |  | — |  |  |  | — |  |  |  | 9,645 |  |  |  | 1,391 |  |  |  | 57 |  |  |  | — |
Cost of sales |  |  | — |  |  |  | (2 | ) |  |  | (19 | ) |  |  | (2 | ) |  |  | (1 | ) |  |  | — |  |  |  | — |  |  |  | (8,042 | ) |  |  | (149 | ) |  |  | (64 | ) |  |  | — |
Depreciation and amortization |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (1 | ) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (452 | ) |  |  | (1 | ) |  |  | (2 | ) |  |  | — |
Gross profit (loss) |  |  | — |  |  |  | 32 |  |  |  | 26 |  |  |  | 11 |  |  |  | 21 |  |  |  | — |  |  |  | — |  |  |  | 1,603 |  |  |  | 1,242 |  |  |  | (7 | ) |  |  | — |
General and administrative expenses (SG&A) : |  |  | (6 | ) |  |  | — |  |  |  | (1 | ) |  |  | — |  |  |  | (1 | ) |  |  | (1 | ) |  |  | (1 | ) |  |  | (753 | ) |  |  | (107 | ) |  |  | (8 | ) |  |  | (2 | )
Finance income |  |  | 4 |  |  |  | 2 |  |  |  | 1 |  |  |  | 4 |  |  |  | 1 |  |  |  | — |  |  |  | 1 |  |  |  | 148 |  |  |  | 58 |  |  |  | 1 |  |  |  | — |
Finance expenses |  |  | (60 | ) |  |  | (11 | ) |  |  | (5 | ) |  |  | (3 | ) |  |  | (4 | ) |  |  | (41 | ) |  |  | (41 | ) |  |  | (1,281 | ) |  |  | (223 | ) |  |  | — |  |  |  | (7 | )
Operational profit (loss) |  |  | (62 | ) |  |  | 23 |  |  |  | 21 |  |  |  | 12 |  |  |  | 17 |  |  |  | (42 | ) |  |  | (41 | ) |  |  | (283 | ) |  |  | 970 |  |  |  | (14 | ) |  |  | (9 | )
Income tax and the Social Contribution tax |  |  | — |  |  |  | (2 | ) |  |  | (2 | ) |  |  | (1 | ) |  |  | (1 | ) |  |  | — |  |  |  | — |  |  |  | (30 | ) |  |  | (108 | ) |  |  | 5 |  |  |  | — |
Net income (loss) for the year |  |  | (62 | ) |  |  | 21 |  |  |  | 19 |  |  |  | 11 |  |  |  | 16 |  |  |  | (42 | ) |  |  | (41 | ) |  |  | (313 | ) |  |  | 862 |  |  |  | (9 | ) |  |  | (9 | )
Comprehensive income (loss) effects |  |  | 1 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 3 |  |  |  | — |  |  |  | — |  |  |  | — |
Comprehensive income (loss) for the year |  |  | (61 | ) |  |  | 21 |  |  |  | 19 |  |  |  | 11 |  |  |  | 16 |  |  |  | (42 | ) |  |  | (41 | ) |  |  | (310 | ) |  |  | 862 |  |  |  | (9 | ) |  |  | (9 | )
2016 |  | Hidrelétrica Cachoeirão |  |  | Baguari Energia |  |  | Guanhães Energia |  |  | Madeira Energia |  |  | Hidrelétrica Pipoca |  |  | Retiro Baixo |  |  | Renova |  |  | Central Eólica de Parajuru |  |  | Central Eólica de Morgado |  |  | Central Eólica Volta do Rio |  |  | Lightger |  |  | Amazônia Energia |  |  | Aliança Geração |
Assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current |  |  | 43 |  |  |  | 45 |  |  |  | 16 |  |  |  | 1,520 |  |  |  | 20 |  |  |  | 30 |  |  |  | 136 |  |  |  | 38 |  |  |  | 24 |  |  |  | 37 |  |  |  | 35 |  |  |  | — |  |  |  | 388 |
Cash and cash equivalents |  |  | 40 |  |  |  | 11 |  |  |  | 1 |  |  |  | 58 |  |  |  | 17 |  |  |  | 19 |  |  |  | 36 |  |  |  | 18 |  |  |  | 17 |  |  |  | 27 |  |  |  | 32 |  |  |  | — |  |  |  | 147 |
Non-current |  |  | 86 |  |  |  | 220 |  |  |  | 65 |  |  |  | 23,557 |  |  |  | 98 |  |  |  | 377 |  |  |  | 5,765 |  |  |  | 128 |  |  |  | 142 |  |  |  | 245 |  |  |  | 152 |  |  |  | 1,048 |  |  |  | 2,512 |
Total assets |  |  | 129 |  |  |  | 265 |  |  |  | 81 |  |  |  | 25,077 |  |  |  | 118 |  |  |  | 407 |  |  |  | 5,901 |  |  |  | 166 |  |  |  | 166 |  |  |  | 282 |  |  |  | 187 |  |  |  | 1,048 |  |  |  | 2,900 |
|  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Liabilities |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Current |  |  | 9 |  |  |  | 12 |  |  |  | 191 |  |  |  | 3,131 |  |  |  | 8 |  |  |  | 25 |  |  |  | 3,347 |  |  |  | 19 |  |  |  | 27 |  |  |  | 37 |  |  |  | 16 |  |  |  | — |  |  |  | 592 |
Suppliers |  |  | 2 |  |  |  | 6 |  |  |  | — |  |  |  | 662 |  |  |  | — |  |  |  | 1 |  |  |  | 547 |  |  |  | 1 |  |  |  | 1 |  |  |  | 1 |  |  |  | 6 |  |  |  | — |  |  |  | 101 |
Non-current |  |  | 17 |  |  |  | 5 |  |  |  | 11 |  |  |  | 15,527 |  |  |  | 45 |  |  |  | 118 |  |  |  | 598 |  |  |  | 58 |  |  |  | 74 |  |  |  | 108 |  |  |  | 86 |  |  |  | — |  |  |  | 335 |
Equity |  |  | 103 |  |  |  | 248 |  |  |  | (121 | ) |  |  | 6,419 |  |  |  | 65 |  |  |  | 264 |  |  |  | 1,956 |  |  |  | 89 |  |  |  | 65 |  |  |  | 137 |  |  |  | 85 |  |  |  | 1,048 |  |  |  | 1,973 |
Total liabilities |  |  | 129 |  |  |  | 265 |  |  |  | 81 |  |  |  | 25,077 |  |  |  | 118 |  |  |  | 407 |  |  |  | 5,901 |  |  |  | 166 |  |  |  | 166 |  |  |  | 282 |  |  |  | 187 |  |  |  | 1,048 |  |  |  | 2,900 |
|  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Statement of income |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Net sales revenue |  |  | 34 |  |  |  | 65 |  |  |  | — |  |  |  | 2,803 |  |  |  | 25 |  |  |  | 62 |  |  |  | 484 |  |  |  | 27 |  |  |  | 22 |  |  |  | 29 |  |  |  | 36 |  |  |  | — |  |  |  | 804 |
Cost of sales |  |  | (10 | ) |  |  | (12 | ) |  |  | — |  |  |  | (1,845 | ) |  |  | (6 | ) |  |  | (29 | ) |  |  | (454 | ) |  |  | (17 | ) |  |  | (17 | ) |  |  | (27 | ) |  |  | (17 | ) |  |  | — |  |  |  | (314 | )
Depreciation and amortization |  |  | (3 | ) |  |  | (9 | ) |  |  | — |  |  |  | (673 | ) |  |  | (3 | ) |  |  | (9 | ) |  |  | (93 | ) |  |  | (10 | ) |  |  | (10 | ) |  |  | (17 | ) |  |  | (11 | ) |  |  | — |  |  |  | (125 | )
Gross profit (loss) |  |  | 24 |  |  |  | 53 |  |  |  | — |  |  |  | 958 |  |  |  | 19 |  |  |  | 33 |  |  |  | 30 |  |  |  | 10 |  |  |  | 5 |  |  |  | 2 |  |  |  | 19 |  |  |  | — |  |  |  | 490 |
General and administrative expenses (SG&A) |  |  | — |  |  |  | (1 | ) |  |  | — |  |  |  | (146 | ) |  |  | (2 | ) |  |  | — |  |  |  | (41 | ) |  |  | (1 | ) |  |  | (1 | ) |  |  | (2 | ) |  |  | (1 | ) |  |  | (1 | ) |  |  | (58 | )
Impairment of PP&E |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (281 | ) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Adjustment for losses on investment |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (455 | ) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Finance income |  |  | 4 |  |  |  | 15 |  |  |  | — |  |  |  | 146 |  |  |  | 2 |  |  |  | 2 |  |  |  | 16 |  |  |  | 3 |  |  |  | 3 |  |  |  | 5 |  |  |  | 3 |  |  |  | — |  |  |  | 46 |
Finance expenses |  |  | (3 | ) |  |  | (1 | ) |  |  | (208 | ) |  |  | (1,552 | ) |  |  | (6 | ) |  |  | (15 | ) |  |  | (424 | ) |  |  | (7 | ) |  |  | (10 | ) |  |  | (15 | ) |  |  | (10 | ) |  |  | (8 | ) |  |  | (58 | )
Operational profit (loss) |  |  | 25 |  |  |  | 66 |  |  |  | (208 | ) |  |  | (594 | ) |  |  | 13 |  |  |  | 20 |  |  |  | (1,155 | ) |  |  | 5 |  |  |  | (3 | ) |  |  | (10 | ) |  |  | 11 |  |  |  | (9 | ) |  |  | 420 |
Income tax and the Social Contribution tax |  |  | (2 | ) |  |  | (7 | ) |  |  | — |  |  |  | (23 | ) |  |  | (2 | ) |  |  | (3 | ) |  |  | 54 |  |  |  | (2 | ) |  |  | 1 |  |  |  | 3 |  |  |  | (3 | ) |  |  | — |  |  |  | (127 | )
Net income (loss) for the year |  |  | 23 |  |  |  | 59 |  |  |  | (208 | ) |  |  | (617 | ) |  |  | 11 |  |  |  | 17 |  |  |  | (1,101 | ) |  |  | 3 |  |  |  | (2 | ) |  |  | (7 | ) |  |  | 8 |  |  |  | (9 | ) |  |  | 293 |
Comprehensive income (loss) effects |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 99 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Comprehensive income (loss) for the year |  |  | 23 |  |  |  | 59 |  |  |  | (208 | ) |  |  | (617 | ) |  |  | 11 |  |  |  | 17 |  |  |  | (1,002 | ) |  |  | 3 |  |  |  | (2 | ) |  |  | (7 | ) |  |  | 8 |  |  |  | (9 | ) |  |  | 293 |
2015 |  | Parati |  |  | Transleste |  |  | Transirapé |  |  | Centroeste |  |  | Transudeste |  |  | Transchile |  |  | Light |  |  | Taesa |  |  | Axxiom |  |  | Aliança Norte |  |  | Cachoeirão |
Assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current |  |  | 59 |  |  |  | 47 |  |  |  | 34 |  |  |  | 58 |  |  |  | 32 |  |  |  | 39 |  |  |  | 3,976 |  |  |  | 2,082 |  |  |  | 74 |  |  |  | 1 |  |  |  | 28 |
Cash and cash equivalents |  |  | 46 |  |  |  | 8 |  |  |  | 6 |  |  |  | 16 |  |  |  | 6 |  |  |  | 36 |  |  |  | 447 |  |  |  | 132 |  |  |  | 7 |  |  |  | 1 |  |  |  | 23 |
Non-current |  |  | 1,408 |  |  |  | 128 |  |  |  | 114 |  |  |  | 1 |  |  |  | 81 |  |  |  | 299 |  |  |  | 11,818 |  |  |  | 7,574 |  |  |  | 14 |  |  |  | 726 |  |  |  | 89 |
Total assets |  |  | 1,467 |  |  |  | 175 |  |  |  | 148 |  |  |  | 59 |  |  |  | 113 |  |  |  | 338 |  |  |  | 15,794 |  |  |  | 9,656 |  |  |  | 88 |  |  |  | 727 |  |  |  | 117 |
Liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current |  |  | 36 |  |  |  | 18 |  |  |  | 20 |  |  |  | 4 |  |  |  | 17 |  |  |  | 21 |  |  |  | 4,399 |  |  |  | 1,008 |  |  |  | 34 |  |  |  | — |  |  |  | 10 |
Suppliers |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 1,450 |  |  |  | 34 |  |  |  | 2 |  |  |  | — |  |  |  | 2 |
Loans and financings – current |  |  | — |  |  |  | 6 |  |  |  | 3 |  |  |  | 2 |  |  |  | — |  |  |  | 10 |  |  |  | 1,629 |  |  |  | 628 |  |  |  | 5 |  |  |  | — |  |  |  |  |
Non-current |  |  | — |  |  |  | 84 |  |  |  | 49 |  |  |  | 21 |  |  |  | 23 |  |  |  | 96 |  |  |  | 6,838 |  |  |  | 3,477 |  |  |  | 5 |  |  |  | 4 |  |  |  | 24 |
Equity |  |  | 1,431 |  |  |  | 73 |  |  |  | 79 |  |  |  | 34 |  |  |  | 73 |  |  |  | 221 |  |  |  | 4,557 |  |  |  | 5,171 |  |  |  | 49 |  |  |  | 723 |  |  |  | 83 |
Total liabilities |  |  | 1,467 |  |  |  | 175 |  |  |  | 148 |  |  |  | 59 |  |  |  | 113 |  |  |  | 338 |  |  |  | 15,794 |  |  |  | 9,656 |  |  |  | 88 |  |  |  | 727 |  |  |  | 117 |
Statement of Income |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net sales revenue |  |  | — |  |  |  | 33 |  |  |  | 34 |  |  |  | 14 |  |  |  | 22 |  |  |  | 28 |  |  |  | 1,222 |  |  |  | 1,973 |  |  |  | 66 |  |  |  | — |  |  |  | 30 |
Cost of sales |  |  | — |  |  |  | (4 | ) |  |  | (13 | ) |  |  | (4 | ) |  |  | (2 | ) |  |  | (10 | ) |  |  | (460 | ) |  |  | (287 | ) |  |  | (59 | ) |  |  | — |  |  |  | (14 | )
Depreciation and amortization |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (1 | ) |  |  | — |  |  |  | (9 | ) |  |  | (412 | ) |  |  | (15 | ) |  |  | (1 | ) |  |  | — |  |  |  | (3 | )
Gross profit (loss) |  |  | — |  |  |  | 29 |  |  |  | 21 |  |  |  | 10 |  |  |  | 20 |  |  |  | 18 |  |  |  | 762 |  |  |  | 1,686 |  |  |  | 7 |  |  |  | — |  |  |  | 16 |
General and administrative expenses |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (91 | ) |  |  | — |  |  |  | (6 | ) |  |  | — |  |  |  | — |
Net Finance income (expenses) |  |  | 11 |  |  |  | (9 | ) |  |  | (5 | ) |  |  | (3 | ) |  |  | (5 | ) |  |  | (6 | ) |  |  | (672 | ) |  |  | (562 | ) |  |  | — |  |  |  | (27 | ) |  |  | (1 | )
Financial income |  |  | 48 |  |  |  | 2 |  |  |  | 1 |  |  |  | 2 |  |  |  | 1 |  |  |  | — |  |  |  | 1,371 |  |  |  | 769 |  |  |  | 1 |  |  |  | — |  |  |  | 2 |
Finance expenses |  |  | (37 | ) |  |  | (11 | ) |  |  | (6 | ) |  |  | (5 | ) |  |  | (6 | ) |  |  | (6 | ) |  |  | (2,043 | ) |  |  | (1,331 | ) |  |  | (1 | ) |  |  | (27 | ) |  |  | (3 | )
Operational profit (loss) |  |  | 11 |  |  |  | 20 |  |  |  | 16 |  |  |  | 7 |  |  |  | 15 |  |  |  | 12 |  |  |  | (1 | ) |  |  | 1,124 |  |  |  | 1 |  |  |  | (27 | ) |  |  | 15 |
Income tax and Social Contribution tax |  |  | — |  |  |  | (2 | ) |  |  | (1 | ) |  |  | (1 | ) |  |  | (1 | ) |  |  | — |  |  |  | (40 | ) |  |  | (241 | ) |  |  | — |  |  |  | — |  |  |  | (2 | )
Net income (loss) for the year |  |  | 11 |  |  |  | 18 |  |  |  | 15 |  |  |  | 6 |  |  |  | 14 |  |  |  | 12 |  |  |  | (41 | ) |  |  | 883 |  |  |  | 1 |  |  |  | (27 | ) |  |  | 13 |
Comprehensive income (loss) effects |  |  | 1 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 8 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Comprehensive income (loss) for the year |  |  | 12 |  |  |  | 18 |  |  |  | 15 |  |  |  | 6 |  |  |  | 14 |  |  |  | 12 |  |  |  | (33 | ) |  |  | 883 |  |  |  | 1 |  |  |  | (27 | ) |  |  | 13 |
2015 |  | Baguari Energia |  |  | Guanhães Energia |  |  | Madeira Energia |  |  | Pipoca |  |  | Retiro Baixo |  |  | Renova |  |  | Parajuru |  |  | Morgado |  |  | Volta do Rio |  |  | Lightger |  |  | Amazônia Energia |  |  | Aliança Geração |
Assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current |  |  | 72 |  |  |  | 2 |  |  |  | 1,608 |  |  |  | 13 |  |  |  | 10 |  |  |  | 551 |  |  |  | 21 |  |  |  | 31 |  |  |  | 46 |  |  |  | 23 |  |  |  | — |  |  |  | 243 |
Cash and cash equivalents |  |  | 9 |  |  |  | 1 |  |  |  | 300 |  |  |  | — |  |  |  | 1 |  |  |  | 66 |  |  |  | 12 |  |  |  | 12 |  |  |  | 20 |  |  |  | 14 |  |  |  | — |  |  |  | 70 |
Non-current |  |  | 220 |  |  |  | 248 |  |  |  | 23,754 |  |  |  | 101 |  |  |  | 443 |  |  |  | 8,425 |  |  |  | 192 |  |  |  | 209 |  |  |  | 290 |  |  |  | 161 |  |  |  | 666 |  |  |  | 3,093 |
Total assets |  |  | 292 |  |  |  | 250 |  |  |  | 25,362 |  |  |  | 114 |  |  |  | 453 |  |  |  | 8,976 |  |  |  | 213 |  |  |  | 240 |  |  |  | 336 |  |  |  | 184 |  |  |  | 666 |  |  |  | 3,336 |
Liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current |  |  | 16 |  |  |  | 212 |  |  |  | 2,151 |  |  |  | 10 |  |  |  | 25 |  |  |  | 1,497 |  |  |  | 18 |  |  |  | 28 |  |  |  | 36 |  |  |  | 14 |  |  |  | — |  |  |  | 113 |
Suppliers |  |  | 6 |  |  |  | — |  |  |  | 384 |  |  |  | — |  |  |  | 6 |  |  |  | 570 |  |  |  | — |  |  |  | — |  |  |  | 1 |  |  |  | 4 |  |  |  | — |  |  |  | 36 |
Non-current |  |  | 6 |  |  |  | — |  |  |  | 15,569 |  |  |  | 50 |  |  |  | 132 |  |  |  | 1,898 |  |  |  | 66 |  |  |  | 85 |  |  |  | 126 |  |  |  | 94 |  |  |  | — |  |  |  | 274 |
Equity |  |  | 270 |  |  |  | 38 |  |  |  | 7,642 |  |  |  | 54 |  |  |  | 296 |  |  |  | 5,581 |  |  |  | 129 |  |  |  | 127 |  |  |  | 174 |  |  |  | 76 |  |  |  | 666 |  |  |  | 2,949 |
Total liabilities |  |  | 292 |  |  |  | 250 |  |  |  | 25,362 |  |  |  | 114 |  |  |  | 453 |  |  |  | 8,976 |  |  |  | 213 |  |  |  | 240 |  |  |  | 336 |  |  |  | 184 |  |  |  | 666 |  |  |  | 3,336 |
Statement of Income |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net sales revenue |  |  | 59 |  |  |  | — |  |  |  | 2,605 |  |  |  | 22 |  |  |  | 53 |  |  |  | 458 |  |  |  | 31 |  |  |  | 34 |  |  |  | 47 |  |  |  | 32 |  |  |  | — |  |  |  | 797 |
Cost of sales |  |  | (46 | ) |  |  | — |  |  |  | (1,103 | ) |  |  | (11 | ) |  |  | (40 | ) |  |  | (5 | ) |  |  | (16 | ) |  |  | (18 | ) |  |  | (28 | ) |  |  | (25 | ) |  |  | — |  |  |  | (442 | )
Depreciation and amortization |  |  | (9 | ) |  |  | — |  |  |  | (471 | ) |  |  | (3 | ) |  |  | (9 | ) |  |  | (4 | ) |  |  | (10 | ) |  |  | (10 | ) |  |  | (17 | ) |  |  | (10 | ) |  |  | — |  |  |  | (69 | )
Gross profit (loss) |  |  | 13 |  |  |  | — |  |  |  | 1,502 |  |  |  | 11 |  |  |  | 13 |  |  |  | 453 |  |  |  | 15 |  |  |  | 16 |  |  |  | 19 |  |  |  | 7 |  |  |  | — |  |  |  | 355 |
General and administrative expenses |  |  | — |  |  |  | (86 | ) |  |  | (816 | ) |  |  | (2 | ) |  |  | (11 | ) |  |  | — |  |  |  | (5 | ) |  |  | (6 | ) |  |  | (2 | ) |  |  | (1 | ) |  |  | (2 | ) |  |  | (69 | )
Net Finance income (expenses) |  |  | 9 |  |  |  | (14 | ) |  |  | (967 | ) |  |  | (3 | ) |  |  | (13 | ) |  |  | (355 | ) |  |  | (5 | ) |  |  | (8 | ) |  |  | (11 | ) |  |  | (7 | ) |  |  | (23 | ) |  |  | (18 | )
Financial income |  |  | 10 |  |  |  | — |  |  |  | 950 |  |  |  | 2 |  |  |  | 1 |  |  |  | 41 |  |  |  | 2 |  |  |  | 2 |  |  |  | 3 |  |  |  | 2 |  |  |  | — |  |  |  | 9 |
Finance expenses |  |  | (1 | ) |  |  | (14 | ) |  |  | (1,917 | ) |  |  | (5 | ) |  |  | (14 | ) |  |  | (396 | ) |  |  | (7 | ) |  |  | (10 | ) |  |  | (14 | ) |  |  | (9 | ) |  |  | (23 | ) |  |  | (27 | )
Operational profit (loss) |  |  | 22 |  |  |  | (100 | ) |  |  | (281 | ) |  |  | 6 |  |  |  | (11 | ) |  |  | 98 |  |  |  | 5 |  |  |  | 2 |  |  |  | 6 |  |  |  | (1 | ) |  |  | (25 | ) |  |  | 268 |
Income tax and Social Contribution tax |  |  | (5 | ) |  |  | — |  |  |  | 266 |  |  |  | (1 | ) |  |  | 1 |  |  |  | (191 | ) |  |  | (1 | ) |  |  | (1 | ) |  |  | (2 | ) |  |  | (2 | ) |  |  | — |  |  |  | (30 | )
Net income (loss) for the year |  |  | 17 |  |  |  | (100 | ) |  |  | (15 | ) |  |  | 5 |  |  |  | (10 | ) |  |  | (93 | ) |  |  | 4 |  |  |  | 1 |  |  |  | 4 |  |  |  | (3 | ) |  |  | (25 | ) |  |  | 238 |
Comprehensive income (loss) effects |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 54 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Comprehensive income (loss) for the year |  |  | 17 |  |  |  | (100 | ) |  |  | (15 | ) |  |  | 5 |  |  |  | (10 | ) |  |  | (39 | ) |  |  | 4 |  |  |  | 1 |  |  |  | 4 |  |  |  | (3 | ) |  |  | (25 | ) |  |  | 238 |
Investment in the Santo Antônio hydroelectric plant, through Madeira Energia S.A. (‘Mesa’) and FIP Melbourne The Company has a direct and indirect investments, of 10% and 8.13% respectively, in Madeira Energia S.A. (which holds an investment in Santo Antônio Energia S.A.), of R$ 1,117 at December 31, 2017 (R$ 1,321 at December 31, 2016). Madeira Energia S.A. (‘Mesa’) and its subsidiary Santo Antônio Energia S.A. (‘Saesa’) are incurring construction costs related to the construction of the Santo Antônio hydroelectric plant. Total construction costs related to amounted to R$ 21,611 (Mesa, consolidated) on December 31, 2017. According to financial projections prepared by its management, such construction costs will be recovered through future revenues from operations as all the entity’s generation plants are currently under operation. The Federal Public Attorneys’ Office, have conducted and are in the process of conducting investigations and other legal measures are in progress, involving other indirect Shareholders of Madeira Energia S.A. and certain executives of those other indirect Shareholders. In this context, the Federal Public Attorneys have started investigations on irregularities involving contractors and suppliers of Mesa and of its other Shareholders. In response to allegations of possible illegal activities, the investee and its other Shareholders have started an independent internal investigation. It is not possible to determine the results of these investigations, or the developments arising from them, which may at some time in the future affect the investee. The effects of any changes to the current scenario will be reflected, appropriately, in the financial statements of the Company and its subsidiary Cemig GT. Arbitration proceedings In 2014, Cemig GT and SAAG Investimentos S.A. (SAAG), a vehicle through which Cemig GT holds an indirect equity interest in Mesa, opened arbitration proceedings, in the Market Arbitration Chamber, challenging the following: (a) the increase approved in the capital of Mesa of approximately R$ 750 partially to be allocated to payment of the claims by the Santo Antonio Construction Consortium (‘CCSA’), based on absence of quantification of the amounts supposedly owed, and absence of prior approval by the Board of Directors, as required by the bylaws and Shareholders’ Agreement of Mesa; and also on the existence of credits owed to Mesa by CCSA, for an amount greater than the claims; and (b) the adjustment for impairment carried out by the Executive Board of Mesa, in the amount of R$ 750, relating to certain credits owed to Mesa by CCSA, on the grounds that those credits are owed in their totality by express provision of contract. The arbitration judgment by the Market Arbitration Chamber recognized the right of Cemig GT and SAAG in full, and ordered the annulment of the acts being impugned. As a consequence of this decision, Mesa reversed the impairment, and posted a provision for receivables in the amount of R$ 679 in its financial statements as of December 31, 2017. To resolve the question of the liability of the CCSA consortium to reimburse the costs of re-establishment of the collateral and use of the contractual limiting factor, the affiliated company opened arbitration proceedings with the International Chamber of Commerce (ICC) against CCSA, which are in progress. This process is confidential under the Arbitration Regulations of the ICC. Investment in the Belo Monte Plant through Amazônia Energia S.A. and Aliança Norte Amazônia Energia and Aliança Norte are Shareholders in Norte Energia S.A. (‘Nesa’), which holds the concession to operate the Belo Monte Hydroelectric Plant, on the Xingu River, in the State of Pará, and manages that interest. Through the jointly-controlled entities referred to above, Cemig GT owns an indirect equity interest in Nesa of 11.74%. Nesa will still require significant funds for costs of organization, development and pre-operating costs for completion of the plant. According to estimates and forecasts, these costs will be recovered through revenues from future operations. On April 7, 2015, Nesa was awarded a preliminary injunction ordering the regulator to “abstain, until hearing of the application for an injunction made in the original case, from applying to Appellant any penalties or sanctions in relation to the Belo Monte Hydroelectric Plant not starting operations on the date established in the original timetable for the project, including those specified in an Aneel Normative Resolution and in the Concession Contract for the Belo Monte Hydroelectric Plant”. The legal advisers of Nesa have classified the probability of loss as ‘possible’ and estimated the potential loss on December 31, 2017 to approximately R$ 286 (R$ 74 on December 31, 2016). Investigations and other legal measures are in progress, conducted by the Federal Public Attorneys’ Office, which involve other Shareholders of Nesa and certain executives of those other Shareholders. In this context, the Federal Public Attorneys have started investigations on irregularities involving contractors and suppliers of Nesa and of its other Shareholders, which are still in progress. At present it is not possible to determine the outcome of these investigations, and their possible consequences. These might at some time in the future affect the investee. In addition, based on the results of the independent internal investigation conducted by Nesa and its other Shareholders, a write-down of the value of the infrastructure of Nesa, by R$ 183 was already recorded. The effects of any changed in the current scenario will be reflected, appropriately, in the financial statements of the Company. Investment in Renova Energia S.A. (‘Renova’) Investment in TerraForm The indirectly jointly-controlled entity Renova had investments in TerraForm Global Inc., designated as financial assets available for sale, recorded at fair value, based on the quoted market price of the shares of TerraForm on a stock exchange (NASDAQ), of which the gain arising from the change in the quoted price of the shares (fair value), in the amount of R$ 73, was recorded in Other comprehensive income in the jointly-controlled entity. On May 15, 2017, Renova sold to Brookfield Asset Management (‘Brookfield’) the investment that it held in TerraForm Global Inc. (‘TerraForm Global’), for R$ 306, and reclassified the accumulated positive adjustments previously posted in Other comprehensive income, in the amount of R$ 172 (of which the impact on Cemig GT was R$ 60), to the Statement of income. In June 2017 Renova further signed an agreement with TerraForm Global in which the parties agreed to terminate the arbitration proceedings that were in existence between the parties, through financial compensation to Renova of R$ 49. This was paid jointly with the settlement of the sale of the shares of TerraForm. Adjustment for impairment In 2017 and 2016 Renova posted impairments of its PP&E, resulting in the recognition of an impairment loss of R$ 787, (the impact on Cemig GT being R$ 285), and R$ 264 (impact on Cemig GT: R$ 90), respectively. Sale of assets – Umburanas wind complex On August 23, 2017 Renova signed, with Engie Brasil S.A. (‘Engie’), the Contract for Assignment of Rights and Obligations of the Umburanas Wind Power Complex, with total installed capacity of 605 MW. The base price of the transaction was R$ 15. The transfer of the Umburanas Complex to Engie was approved on October 24, 2017, at the 40th Public Meeting of the Council of Aneel. Grant of exclusivity On February 23, 2018, Renova received a binding offer from Brookfield Energia Renovável S.A. (‘BER’) for acquisition of the assets of the whole Alto Sertão III Complex (‘ASIII Complex’), and also approximately 1.1 GW in certain wind projects under development. The value presented for the ASIII Complex was R$ 650 , to be paid on completion of the transaction, this amount being subject to usual post-closing adjustments (‘the Price’). The Price may be increased by an earn-out of up to R$ 150 linked to future generation by the ASIII Complex, to be calculated after 5 years from its start of operation, plus R$ 187 per MW of installed capacity for the wind projects in development. On February 27, 2018 the Board of Directors of Renova approved the proposal received and granted BER exclusivity for a further 30 (thirty) days, automatically renewable for 30 (thirty) additional days, for finalization of the documents of the transaction. The proceeds from the transaction will be prioritized for payment of suppliers and creditors of the Alto Sertão III project. Risks related to compliance with laws and regulations On January 19, 2018, Renova responded to a formal statement by the Civil Police of Minas Gerais State received in November 2017, relating to the investigation being carried out by that Police Force related to certain capital injections made by the equity holders of the parent of Renova, and capital injections made by Renova in certain projects under development in previous years. As a consequence, the governance bodies of Renova requested the opening of an internal investigation, which is being conducted by an independent party. The investigation is in progress, and it is not possible to determine any effects of this investigation, nor any impacts on the financial statements of Renova, of the Company for the year ended December 31, 2017. Binding proposal by Cemig presented to Renova On March 27, 2018 Cemig (the equity holder of Cemig GT) presented a binding proposal to the jointly-controlled entity Renova, for acquisition of 100% of the shares in Chipley SP Participações S.A. (‘Chipley’) held by Renova, or 51% of the shares in Brasil PCH S.A. held by Chipley. This proposal relates to the recent changes in the negotiations for capitalization of Renova, Renova’s interest in bringing forward revenues from power purchase agreements, and execution of Cemig’s disinvestment program. Cemig’s intention is that Renova should sell its interest in Brasil PCH to a third party, or to Cemig or to any of its affiliated companies, in the terms of the Proposal, to make possible payment of the amounts owed to Cemig GT. Completion of this transaction, if accepted by Renova, will be subject to precedent conditions, specified in the Proposal, that are customary in this type of transaction. In view of the above, Cemig GT has not participated in the governance bodies of Renova in relation to any decision and debate relating to the binding proposal. Interest in RME and Lepsa On November 30, 2017, the Company made an additional acquisition of an interest in RME, acquiring control of that company as a result of partial exercise of the put option held by the other Shareholders, as descried in more detail in Note 30 – Financial Instruments and Risk Management. On that date Cemig acquired all of the outstanding shares in Lepsa, and all of the outstanding preferred shares in RME, held by BB-BI, BV Financeira and Santander, which corresponded to fair value of R$ 185, comprising R$ 147 in Lepsa and R$ 38 in RME. With this acquisition, Cemig increased its interestship in RME from 66.27% to 75% of the total capital, while continuing to own a 50% interest in the voting shares of RME; and increased in interestship in Lepsa from 66.62% to 100% of the total and voting. The fair value of the assets acquired are as follows:
Lepsa |  | RME
|  | ASSETS |  | LIABILITIES + EQUITY |  |  |  | ASSETS |  | LIABILITIES + EQUITY
Fair value, current |  | 4 |  | — |  | Fair value, current |  | 2 |  | —
Fair value, non-current |  | 428 |  | — |  | Fair value, non-current |  | 428 |  | —
Fair value, equity |  | — |  | 432 |  | Fair value, equity |  | — |  | 430
Total |  | 432 |  | 432 |  | Total |  | 430 |  | 430
Considering its acquisition of control of Lepsa, Cemig measured its original participation in the investment at fair value, recognizing a loss of R$ 72 during in 2017. Merger of Cemig Telecom On February 28, 2018, Company shareholders’ Meeting approved the merger of Cemig Telecom that was completed on March 31, 2018. Since this is an merger of a wholly-owned subsidiary, there was no capital increase nor issue of new shares by Cemig. The shares in the subsidiary were canceled, on the merger date, and the necessary accounting adjustment were made. Disposal Taesa’s units In November 2017 the Company sold part of its equity interest in the jointly-controlled entity Taesa in an auction and raised R$ 717. The Company sold 34 million Units of Taesa at the price of R$ 21.10 per Unit. With the sale, the Company’s holding in the share capital of Taesa was reduced from 31.54% to 21.68%. The shares that were sold are not part of the controlling shareholding block of Taesa, and as a result Cemig continues to be in the controlling block of Taesa. Sale of the Transmineiras to Taesa In november 2017, Cemig completed the shareholding restructuring involving transfer to Taesa of the equity interests held by Cemig GT in the following transmission concession holders:
| • |  | Companhia Transleste de Transmissão S.A. (‘Transleste’),
| • |  | Companhia Transudeste de Transmissão S.A. (‘Transudeste’), and
| • |  | Companhia Transirapé de Transmissão S.A. (‘Transirapé’)
(‘the Transmineiras Companies’). The amount received by Cemig was R$ 56.

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