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Revenue (Tables) | 12 Months Ended
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Dec. 31, 2023
Revenue [abstract] |
Schedule of Net Operating Revenue |
|  | 2023 |  |  | 2022 |  |  | 2021 |
Revenue from supply of energy (a) |  |  | 31,671 |  |  |  | 30,158 |  |  |  | 29,619 |
Revenue from use of the electricity distribution systems (TUSD) |  |  | 4,417 |  |  |  | 3,685 |  |  |  | 3,448 |
CVA and Other financial components (1) (4) |  |  | (213 | ) |  |  | (1,147 | ) |  |  | 2,146 |
Reimbursement of PIS/Pasep and Cofins over ICMS credits to customers- realization (2) |  |  | 1,909 |  |  |  | 2,360 |  |  |  | 1,317 |
Transmission revenue |  |  |  |  |  |  |  |  |
Transmission operation and maintenance revenue (b) |  |  | 373 |  |  |  | 413 |  |  |  | 355 |
Transmission construction revenue (b) |  |  | 242 |  |  |  | 407 |  |  |  | 252 |
Interest revenue arising from the financing component in the transmission contract asset (b) (Note 14) |  |  | 524 |  |  |  | 575 |  |  |  | 660 |
Generation indemnity revenue (Note 13.b) |  |  | 93 |  |  |  | 47 |  |  |  | - |
Distribution construction revenue |  |  | 3,899 |  |  |  | 3,246 |  |  |  | 1,852 |
Adjustment to expectation of cash flow from indemnifiable financial assets of distribution concession |  |  | 149 |  |  |  | 39 |  |  |  | 54 |
Revenue on financial updating of the Concession Grant Fee (13.b) |  |  | 412 |  |  |  | 467 |  |  |  | 523 |
Transactions in energy on the CCEE |  |  | 146 |  |  |  | 183 |  |  |  | 1,157 |
Mechanism for the sale of surplus (c) (13.b) |  |  | (4 | ) |  |  | 453 |  |  |  | 453 |
Supply of gas |  |  | 4,139 |  |  |  | 4,529 |  |  |  | 3,470 |
Fine for violation of service continuity indicator |  |  | (139 | ) |  |  | (94 | ) |  |  | (70 | )
PIS/Pasep and Cofins credits to be refunded to consumers (3) |  |  | - |  |  |  | (830 | ) |  |  |
Advances for services provided |  |  | - |  |  |  | - |  |  |  | 154 |
Other operating revenues (d) |  |  | 2,316 |  |  |  | 2,658 |  |  |  | 1,935 |
Deductions on revenue (e) |  |  | (13,084 | ) |  |  | (12,686 | ) |  |  | (13,679 | )
Net revenue |  |  | 36,850 |  |  |  | 34,463 |  |  |  | 33,646 |
(1) As per GREG/MME Resolution 3, the effect of the water scarcity tariff ‘Flag’, which was in force until April 2022, resulted in a significant reduction of revenue in 2022. Due to the better hydrological conditions, the tariff flag was ‘green’ as from May 2022, and produced no effect in the whole of 2023. (2) More information in note 18. (3) This is the result of recognition of the effects of Law 14.385/22, which ordered that the amounts of credits of PIS, Pasep and Cofins wrongly charged on the ICMS tax component of electricity bills should be reimbursed in their entirety to the customers of electricity distributors. (4) This income derives from the total additions and amortizations shown in note 13.d.
Schedule of Revenue from Energy Supply |
|  | MWh (1) |  |  | R$ |
|  | 2023 |  |  | 2022 |  |  | 2021 |  |  | 2023 |  |  | 2022 |  |  | 2021 |
Residencial |  |  | 12,092 |  |  |  | 11,217 |  |  |  | 11,186 |  |  |  | 10,794 |  |  |  | 10,133 |  |  |  | 11,124 |
Industrial |  |  | 18,088 |  |  |  | 18,204 |  |  |  | 16,361 |  |  |  | 5,903 |  |  |  | 5,991 |  |  |  | 5,275 |
Commercial, services and others |  |  | 9,469 |  |  |  | 8,957 |  |  |  | 8,334 |  |  |  | 6,314 |  |  |  | 6,155 |  |  |  | 5,520 |
Rural |  |  | 3,063 |  |  |  | 3,093 |  |  |  | 3,975 |  |  |  | 2,238 |  |  |  | 2,050 |  |  |  | 2,566 |
Public authorities |  |  | 956 |  |  |  | 856 |  |  |  | 729 |  |  |  | 786 |  |  |  | 660 |  |  |  | 583 |
Public lighting |  |  | 1,056 |  |  |  | 1,138 |  |  |  | 1,226 |  |  |  | 498 |  |  |  | 535 |  |  |  | 718 |
Public services |  |  | 1,045 |  |  |  | 1,400 |  |  |  | 1,418 |  |  |  | 744 |  |  |  | 841 |  |  |  | 879 |
Subtotal |  |  | 45,769 |  |  |  | 44,865 |  |  |  | 43,229 |  |  |  | 27,277 |  |  |  | 26,365 |  |  |  | 26,665 |
Own consumption |  |  | 30 |  |  |  | 31 |  |  |  | 33 |  |  |  | - |  |  |  | - |  |  |  | - |
Unbilled revenue |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 166 |  |  |  | (189 | ) |  |  | (14 | )
|  |  | 45,799 |  |  |  | 44,896 |  |  |  | 43,262 |  |  |  | 27,443 |  |  |  | 26,176 |  |  |  | 26,651 |
Wholesale supply to other concession holders (1) |  |  | 17,328 |  |  |  | 16,777 |  |  |  | 10,825 |  |  |  | 4,183 |  |  |  | 3,894 |  |  |  | 3,023 |
Wholesale supply unbilled, net |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 45 |  |  |  | 88 |  |  |  | (55 | )
Total |  |  | 63,127 |  |  |  | 61,673 |  |  |  | 54,087 |  |  |  | 31,671 |  |  |  | 30,158 |  |  |  | 29,619 |
(1) Data not audited by external auditors. (2) The volume reported does not include the distributed generation market, which corresponded to 3,910,204 MWh in 2023 (2,672,285 MWh in 2022). (3) 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.
Schedule of Transmission Concession Contract |
|  | 2023 |  |  | 2022 |  |  | 2021 |
Construction and upgrades revenue |  |  | 242 |  |  |  | 407 |  |  |  | 252 |
Construction and upgrades costs |  |  | (172 | ) |  |  | (291 | ) |  |  | (183 | )
Margin |  |  | 70 |  |  |  | 116 |  |  |  | 69 |
Mark-up (%) |  |  | 40.70 | % |  |  | 39.86 | % |  |  | 37.40 | %
Operation and maintenance revenue |  |  | 373 |  |  |  | 413 |  |  |  | 355 |
Operation and maintenance cost |  |  | (292 | ) |  |  | (287 | ) |  |  | (235 | )
Margin |  |  | 81 |  |  |  | 126 |  |  |  | 120 |
Mark-up (%) |  |  | 27.74 | % |  |  | 43.90 | % |  |  | 50.88 | %
Schedule of Other Operating Revenues |
|  | 2023 |  |  | 2022 |  |  | 2021 |
Charged service |  |  | 21 |  |  |  | 19 |  |  |  | 17 |
Services rendered |  |  | 85 |  |  |  | 66 |  |  |  | 53 |
Low-income subsidy |  |  | 401 |  |  |  | 321 |  |  |  | 269 |
subsidy SCEE (1) |  |  | 129 |  |  |  | - |  |  |  | - |
subsidy Eletrobras (2) |  |  | 51 |  |  |  | 432 |  |  |  | - |
Tariff flags subsidy |  |  | 78 |  |  |  | 290 |  |  |  | - |
Others subsidies (3) |  |  | 1,031 |  |  |  | 962 |  |  |  | 1,323 |
Rental and leasing (2) |  |  | 412 |  |  |  | 493 |  |  |  | 211 |
Contractual indemnities |  |  | 6 |  |  |  | - |  |  |  | 27 |
Other |  |  | 102 |  |  |  | 75 |  |  |  | 35 |
Total |  |  | 2,316 |  |  |  | 2,658 |  |  |  | 1,935 |
(1) Revenue under the Electricity Offsetting System (Sistema de Compensação de Energia Elétrica – SCEE), governing offsetting for distributed generation, released by ANEEL in the 2023 Tariff Review. (2) This refers to the amounts injected by Eletrobras or by its subsidiaries under CNPE Resolution 15/2021, passed through to companies holding electricity distribution concessions or permissions. (3) This is revenue arising from subsidies applying to tariffs paid by users of distribution service, it includes tariff subsidies applying to tariffs paid by or relating to: supply from incentive-bearing source load; rural supply; nocturnal irrigation; incentive-bearing generation; public services; as well as revenue recognizing subsidies related to the Program to Encourage Voluntary Reduction of Electricity Consumption. (4) The amount shown for from January to December 2022 comprises R$ 187 for the debt recognition agreement signed with a major client in June 2022, for use of infrastructure (distribution poles) in the period January 2019 to May 2022.
Schedule of Deduction on Revenue |
|  | 2023 |  |  | 2022 |  |  | 2021 |
Taxes on revenue |  |  |  |  |  |  |  |  |
ICMS (1) |  |  | 5,043 |  |  |  | 4,892 |  |  |  | 6993 |
Cofins |  |  | 3,032 |  |  |  | 2,948 |  |  |  | 2842 |
PIS/Pasep |  |  | 658 |  |  |  | 643 |  |  |  | 618 |
others |  |  | 7 |  |  |  | 5 |  |  |  | 11 |
|  |  | 8,740 |  |  |  | 8,488 |  |  |  | 10,464 |
Charges to the customer |  |  |  |  |  |  |  |  |
Global Reversion Reserve (RGR) |  |  | 12 |  |  |  | 14 |  |  |  | 15 |
Energy Efficiency Program (PEE) |  |  | 74 |  |  |  | 69 |  |  |  | 74 |
Energy Development Account (CDE) |  |  | 3,949 |  |  |  | 4,057 |  |  |  | 2658 |
Research and Development (R&D) |  |  | 37 |  |  |  | 35 |  |  |  | 34 |
National Scientific and Technological Development Fund (FNDCT) |  |  | 53 |  |  |  | 49 |  |  |  | 55 |
Energy System Expansion Research (EPE of MME) |  |  | 27 |  |  |  | 25 |  |  |  | 27 |
Customer charges - Proinfa alternative sources program |  |  | 63 |  |  |  | 77 |  |  |  | 66 |
Energy services inspection fee |  |  | 37 |  |  |  | 33 |  |  |  | 35 |
Royalties for use of water resources |  |  | 53 |  |  |  | 54 |  |  |  | 37 |
Customer charges - the ‘Flag Tariff’ system |  |  | - |  |  |  | (252 | ) |  |  | 162 |
CDE on R&D |  |  | 16 |  |  |  | 15 |  |  |  | 21 |
CDE on PEE |  |  | 23 |  |  |  | 22 |  |  |  | 31 |
|  |  | 4,344 |  |  |  | 4,198 |  |  |  | 3,215 |
Total |  |  | 13,084 |  |  |  | 12,686 |  |  |  | 13,679 |
(1) On June 23, 2022, Complementary Law 194 came into force with immediate effect, making changes to the National Tax Code (CTN) and to Complementary Law 87/96 (the ‘Kandir Law’) including: (i) classifying electricity, among other goods, as essential, (ii) prohibiting the setting of rates of ICMS tax for transactions with these goods at a level higher than those of transactions in general, and (iii) removing this tax from electricity transmission and distribution services, and from sector charges linked to electricity operations. In February 2023 judgment was given in Action for Unconstitutionality (Ação Direta de Inconstitucionalidade – ADI) No. 7195, which suspended the effects of Article 3, Sub-item X, of Complementary Law 87/96, as amended by Complementary Law 194/2022, which had excluded transmission and distribution services, and sector charges related to electricity operations, from the calculation base for ICMS tax. Cemig has adjusted its procedures due to this decision.

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