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29. REVENUE | 12 Months Ended
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Dec. 31, 2019
Revenue [abstract] |
REVENUE | 29. REVENUE Revenues are measured at the fair value of the consideration received or to be received and are recognized on a monthly basis as and when: (i) Rights and obligations of the contract with the customer are identified; (ii) the performance obligation of the contract is identified; (iii) the price for each transaction has been determined; (iv) the transaction price has been allocated to the performance obligations defined in the contract; and (v) the performance obligations have been complied.
|  | 2019 |  |  |  | 2018 |  |  |  | 2017 |
Revenue from supply of energy(a) |  | 26,928 |  |  |  | 24,872 |  |  |  | 23,701 |
Revenue from use of the electricity distribution systems (TUSD) (b) |  | 2,722 |  |  |  | 2,045 |  |  |  | 1,611 |
CVA, and Other financial components (c) |  | 58 |  |  |  | 1,973 |  |  |  | 988 |
Transmission revenue |  |  |  |  |  |  |  |  |  |  |
Transmission concession revenue (d) |  | 504 |  |  |  | 411 |  |  |  | 371 |
Transmission construction revenue (e) |  | 220 |  |  |  | 96 |  |  |  | 25 |
Transmission assets - indemnity revenue (f) |  | 156 |  |  |  | 250 |  |  |  | 373 |
Generation assets - Indemnity Revenue |  | – |  |  |  | 55 |  |  |  | 271 |
Distribution construction revenue (e) |  | 980 |  |  |  | 802 |  |  |  | 1,094 |
Adjustment to expectation of cash flow from indemnifiable financial assets of distribution concession (g) |  | 18 |  |  |  | – |  |  |  | 9 |
Revenue on financial updating of the Concession Grant Fee (h) |  | 318 |  |  |  | 321 |  |  |  | 317 |
Energy transactions on the CCEE (i) |  | 432 |  |  |  | 217 |  |  |  | 860 |
Supply of gas |  | 2,298 |  |  |  | 1,995 |  |  |  | 1,759 |
Fine for violation of service continuity indicator (1) |  | (58 | ) |  |  | (44 | ) |  |  | – |
Recovery of PIS/Pasep and Cofins (note 10) |  | 1,428 |  |  |  | – |  |  |  | – |
Other operating revenues (j) |  | 1,722 |  |  |  | 1,585 |  |  |  | 1,484 |
Deductions on revenue (k) |  | (12,336 | ) |  |  | (12,312 | ) |  |  | (11,151 | )
Net operating revenue |  | 25,390 |  |  |  | 22,266 |  |  |  | 21,712 |
(1) As from January 1, 2018 these amounts began to be recognized as a reduction of revenue, rather than as operational expenses, as per the change contained in IFRS 15. a) Revenue from energy supply These items are recognized upon delivery of supply, and the revenue is recorded as and when billed, based on the tariff approved by the regulator for each class of customer. This table shows energy supply by type of customer:
|  | GWh (1) |  |  |  | R$ |
|  | 2019 |  |  |  | 2018 |  |  |  | 2017 |  |  |  | 2019 |  |  |  | 2018 |  |  |  | 2017 |
Residential |  | 10,538 |  |  |  | 10,267 |  |  |  | 10,008 |  |  |  | 9,668 |  |  |  | 8,658 |  |  |  | 7,842 |
Industrial |  | 16,024 |  |  |  | 17,689 |  |  |  | 17,761 |  |  |  | 4,760 |  |  |  | 4,893 |  |  |  | 4,907 |
Commercial, services and others |  | 9,567 |  |  |  | 8,380 |  |  |  | 7,507 |  |  |  | 5,439 |  |  |  | 4,683 |  |  |  | 4,342 |
Rural |  | 3,795 |  |  |  | 3,615 |  |  |  | 3,651 |  |  |  | 2,058 |  |  |  | 1,794 |  |  |  | 1,629 |
Public authorities |  | 905 |  |  |  | 871 |  |  |  | 866 |  |  |  | 654 |  |  |  | 575 |  |  |  | 532 |
Public lighting |  | 1,357 |  |  |  | 1,384 |  |  |  | 1,367 |  |  |  | 614 |  |  |  | 585 |  |  |  | 537 |
Public services |  | 1,372 |  |  |  | 1,316 |  |  |  | 1,301 |  |  |  | 725 |  |  |  | 646 |  |  |  | 589 |
Subtotal |  | 43,558 |  |  |  | 43,522 |  |  |  | 42,461 |  |  |  | 23,918 |  |  |  | 21,834 |  |  |  | 20,378 |
Own consumption |  | 38 |  |  |  | 41 |  |  |  | 37 |  |  |  | – |  |  |  | – |  |  |  | – |
Unbilled revenue |  |  |  |  |  |  |  |  |  | – |  |  |  | 134 |  |  |  | 48 |  |  |  | 61 |
|  | 43,596 |  |  |  | 43,563 |  |  |  | 42,498 |  |  |  | 24,052 |  |  |  | 21,882 |  |  |  | 20,439 |
Wholesale supply to other concession holders (2) |  | 11,448 |  |  |  | 11,992 |  |  |  | 12,777 |  |  |  | 2,943 |  |  |  | 3,002 |  |  |  | 1,727 |
Wholesale supply unbilled, net |  | – |  |  |  | – |  |  |  | – |  |  |  | (67 | ) |  |  | (12 | ) |  |  | 1,535 |
Total |  | 55,044 |  |  |  | 55,555 |  |  |  | 55,275 |  |  |  | 26,928 |  |  |  | 24,872 |  |  |  | 23,701 |
(1) | Data not audited by external auditors.
(2) | Includes a CCEAR (Regulated Market Sales Contract), ‘bilateral contracts’ with other agents, and the revenues from management of generation assets (GAG) for the 18 hydroelectric plants of Lot D of Auction no 12/2015.
b) Revenue from Use of the Distribution System (the TUSD charge) These are recognized upon the distribution infrastructure becoming available to customers, and the fair value of the consideration is calculated according to the TUSD tariff of those customers, set by the regulator. c) The CVA account, and Other financial components The results from variations in (i) the CVA account (Parcel A Costs Variation Compensation Account), and in (ii) Other financial components in calculation of tariffs, refer to the positive and negative differences between the estimated non-manageable costs of the subsidiary Cemig D and the cost actually incurred. The amounts recognized arise from balances recorded in the current year, homologated or to be homologated in tariff adjustment processes. For more information please see Note 16. d) Transmission concession revenue Transmission revenue comprises the amount received from agents of the energy sector for operation and maintenance of transmission lines of the national grid, in the form of the Permitted Annual Revenue (Receita Anual Permitida, or RAP), plus an adjustment for expectation of cash flow arising from the variation in the fair value of the Remuneration Assets Base, in the amout of R$15 in 2019 (R$13 in 2018).The Company is subject to the penalty named Variable Portion (Parcela Variável, or PV) which is applied by the regulator as a result of any unavailabilities or operational restrictions on facilities that are part of the National Grid. This penalty is recognized as a reduction of revenue from operation and maintenance of the transmission network in the period in which it occurs. The effects of the Variable Portion in transmission revenue were R$9 in 2019 (R$11 in 2018). e) Construction revenue Construction revenue corresponds to the performance obligation to build the transmission and distribution infrastructure during the construction phase. Considering that constructions and improvements are substantially executed through outsourced parties; and that all construction revenues is related to the construction of the infrastructure of the energy distribution and transmission services, Company’s management concluded that construction contract revenue has zero profit margin. f) Transmission assets - indemnity revenue Corresponded to updating, by the IPCA index, of the balance of transmission indemnity receivable. For further information, please see Note 16. g) Adjustment to expected cash flow from financial assets on residual value of infrastructure asses of distribution concessions Income from fair value changes of the Regulatory Remuneration Asset Base. h) Revenue on financial updating of the Concession Grant Fee Represents the inflation adjustment using the IPCA inlfation index, plus interest, on the Concession Grant Fee for the concession awarded as Lot D of Auction 12/2015. See Note 16. i) Energy transactions on the CCEE (Power Trading Chamber) The revenue from transactions made through the Power Trading Chamber (Câmara de Comercialização de Energia Elétrica, or CCEE) is the monthly positive net balance of settlements of transactions for purchase and sale of energy in the Spot Market, through the CCEE, for which the consideration corresponds to the product of energy sold at the Spot Price. j) Other operating revenues
|  | 2019 |  |  |  | 2018 |  |  |  | 2017 |
Charged service |  | 17 |  |  |  | 14 |  |  |  | 10 |
Telecoms services |  | – |  |  |  | – |  |  |  | 149 |
Services rendered |  | 183 |  |  |  | 188 |  |  |  | 156 |
Subsidies (1) |  | 1,266 |  |  |  | 1,136 |  |  |  | 1,034 |
Rental and leasing |  | 189 |  |  |  | 90 |  |  |  | 121 |
Reimbursement for decontracted supply |  | 65 |  |  |  | 145 |  |  |  | - |
Other |  | 2 |  |  |  | 12 |  |  |  | 14 |
|  | 1,722 |  |  |  | 1,585 |  |  |  | 1,484 |
(1) | Revenue recognized for the tariff subsidies applied to users of distribution and transmission services, including low income tariff incentive refunded by Eletrobras.
k) Deductions on revenue
|  | 2019 |  |  |  | 2018 |  |  |  | 2017 |
Taxes on revenue |  |  |  |  |  |  |  |  |  |  |
ICMS |  | 6,358 |  |  |  | 5,657 |  |  |  | 5,847 |
Cofins |  | 2,395 |  |  |  | 2,547 |  |  |  | 2,237 |
PIS/Pasep |  | 521 |  |  |  | 553 |  |  |  | 455 |
Others |  | 8 |  |  |  | 8 |  |  |  | 8 |
|  | 9,282 |  |  |  | 8,765 |  |  |  | 8,547 |
Charges to the customer |  |  |  |  |  |  |  |  |  |  |
Global Reversion Reserve (RGR) |  | 16 |  |  |  | 19 |  |  |  | 17 |
Energy Efficiency Program (PEE) |  | 69 |  |  |  | 64 |  |  |  | 56 |
Energy Development Account (CDE) |  | 2,448 |  |  |  | 2,603 |  |  |  | 1,822 |
Research and Development (R&D) |  | 41 |  |  |  | 38 |  |  |  | 38 |
National Scientific and Technological Development Fund (FNDCT) |  | 41 |  |  |  | 38 |  |  |  | 38 |
Energy System Expansion Research (EPE of MME) |  | 20 |  |  |  | 19 |  |  |  | 19 |
Customer charges – Proinfa alternative sources program |  | 52 |  |  |  | 40 |  |  |  | 39 |
Energy services inspection fee |  | 30 |  |  |  | 26 |  |  |  | 29 |
Royalties for use of water resources |  | 43 |  |  |  | 45 |  |  |  | 92 |
Customer charges – the ‘Flag Tariff’ system |  | 294 |  |  |  | 655 |  |  |  | 454 |
|  | 3,054 |  |  |  | 3,547 |  |  |  | 2,604 |
|  | 12,336 |  |  |  | 12,312 |  |  |  | 11,151

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