Profile: Companhia Energetica de Minas Gerais Cemig (CIG)

CIG on New York Consolidated

2.78USD
28 Jul 2015
Change (% chg)

$0.03 (+1.09%)
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$2.75
Open
$2.80
Day's High
$2.82
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$2.72
Volume
4,867,620
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3,855,830
52-wk High
$8.96
52-wk Low
$2.69

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Companhia Energetica de Minas Gerais-CEMIG, incorporated on May 22, 1952, is a Brazil-based holding company mainly engaged in the generation, transmission and distribution of electricity. The Company operates through the segments: Generation, Transmission, Distribution, Telecom, Gas and Other. As of December 31, 2014, the Company generated electricity at 78 hydroelectric plants, three thermoelectric plants and 23 wind farms, with total installed capacity of 7,716 Megawatts. Of this capacity, the hydroelectric plants had a total of 7,334 Megawatts, the thermal plants 184 Megawatts, and the wind farms 199 Megawatts. The Company's electric power transmission business consists of transporting power from the facilities where it is generated to points of consumption, distribution networks and Free Consumers. The transmission network consists of power transmission lines and substations with voltage of 230 kilovolts or more.

The Company's distribution operation consists of transfers of electricity from distribution substations to final consumers. It includes four public service electricity distribution concession contracts in the State of Minas Gerais, granting rights to commercial operation of services related to the supply of electricity to captive consumers in municipalities in its concession area, including consumers that may be eligible, under the legislation, to become Free Consumers. The concession area of Cemig Distribution covers approximately 219,103 square miles, or 96.7% of the territory of the State of Minas Gerais.

As of December 31, 2014, the Company's electricity system consisted of 316,500 miles of distribution lines, through which it supplied 27,011 Gigawatt hour to 8.0 million captive consumers and transported 17,448 Gigawatt hour to 417 Free Consumers. As of December 31, 2014, the total volume of electricity distributed was 44,459 Gigawatt hour. The Company is also engaged in the following businesses: telecommunications, through its consolidated subsidiary Cemig Telecomunicacoes S.A.; national and international energy solutions consulting business, through its subsidiary Efficientia S.A.; exploitation of natural gas, through five consortia, including Exploration Consortium SF-T-104, Exploration Consortium SF-T-114, Exploration Consortium SF-T-120, Exploration Consortium SF-T-127, and Exploration Consortium REC-T-163; sale and trading of electricity, through structuring and intermediation of purchase and sale transactions, trading electricity in the Free Market, through its wholly owned subsidiaries Cemig Trading S.A. and Empresa de Servicos de Comercializacao de Energia Eletrica S.A. and Cemig Comercializadora de Energia Incentivada S.A.; acquisition, transport and distribution of gas and its sub products and derivatives through Companhia de Gas de Minas Gerais (Gasmig), and technology systems and systems for operational management of public service concessions, including companies operating in electricity, gas, water and sewerage and other utility companies, through Axxiom Solucoes Tecnologicas S.A.

Company Address

Companhia Energetica de Minas Gerais Cemig

5. Andar/b1
Av Barbacena 1200, SANTO AGOSTIN
BELO HORIZONTE     30190131
P: +5531.35065024
F: +5531.35065026

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