Centrais Eletricas Brasileiras SA (ELET3.SA)

ELET3.SA on Sao Paulo Stock Exchange

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Latest Key Developments (Source: Significant Developments)

Brazil to release soon privatization model for Eletrobras
Wednesday, 25 Oct 2017 

Oct 25 (Reuters) - :Brazil to publish privatization model for Centrais Elétricas Brasileiras SA <<>>, or Eletrobras, in coming days, says energy ministry official Fábio Lopes Alves.  Full Article

Eletrobras to sell minority stakes in some projects this year
Tuesday, 3 Oct 2017 

Oct 2 (Reuters) - :CEO of Brazil's Centrais Elétricas Brasileiras SA <<>>, or Eletrobras, Wilson Ferreira Jr says company weighs keeping a 30 percent stake in power distribution firms put for sale.Eletrobras CEO Ferreira Jr says company to sell minority stakes in some projects this year.Eletrobras CEO said company will share some information regarding privatization model by year-end.  Full Article

Eletrobras CEO says not likely to execute 2016 capex target
Wednesday, 3 Aug 2016 

: CEO of Brazil's state-controlled power holding company Eletrobras , Wilson Ferreira Jr, says company not likely to execute full 10 billion real capex target in 2016 . CEO of Eletrobras says company plans to invest 33 billion reais in power generation, power transmission through 2020 (Reporting by Rodrigo Viga Gaier) ((Marcelo.Teixeira@thomsonreuters.com;)).  Full Article

Eletrobras hopes to relist U.S. shares in October - CEO
Wednesday, 27 Jul 2016 

: Brazil's state-controlled electricity holding company Centrais Elétricas Brasileiras SA (Eletrobras) hopes to relist its shares in New York in October, CEO Wilson Ferreira said on Wednesday. . The company expects an internal corruption investigation to finish in early September. The investigation must be done before the company can submit paperwork to the U.S. Securities and Exchange Commission. . Eletrobras shares stopped trading in the United States in May. Further company coverage: [ELET6.SA ] (Reporting by Leonardo Goy) ((caroline.stauffer@thomsonreuters.com;)).  Full Article

Brazil treasury cannot solve all Eletrobras problems -minister
Wednesday, 27 Jul 2016 

: The financing needs of Brazil's state-run power holding company Centrais Eletricas Brasileiras SA (Eletrobras) are very large, Mining and Energy Minister Fernando Coelho Filho said on Wednesday. . Brazil's treasury is not in a position to solve all of the company's problems, Coelho told reporters. Further company coverage: [ELET6.SA] (Reporting by Leonardo Goy) ((caroline.stauffer@thomsonreuters.com;)).  Full Article

Standard & Poor's reaffirms Centrais Eletricas Brasileiras' rating
Friday, 20 May 2016 

Centrais Eletricas Brasileiras SA :Announced on Thursday that Standard & Poor's had reaffirmed its corporate credit rating in global scale at "BB", in foreign and local currency, with negative outlook.  Full Article

Brazil's CCEE says electricity distributors in default for large amounts
Wednesday, 18 May 2016 

: President of Brazilian energy market clearing CCEE says some electricity distributors are in default for "important values" . He said, if nothing was done, problem would likely worsen .Brazil's electric energy sector is showing signs of extreme stress and fragility, after two years of drought that depleted hydroelectric reservoirs was followed by ample rains this year and a sharp economic slowdown and drop in demand.  Full Article

Centrais Eletricas Brasileiras SA said to ready long-delayed U.S. SEC report with graft loss- Bloomberg
Saturday, 30 Apr 2016 

Centrais Eletricas Brasileiras SA:Centrais Eletricas Brasileiras, has concluded the first phase of an internal investigation into alleged graft and is planning to take a writedown because of corruption when it files its long-delayed U.S. financial statements in mid-May, said two people with direct knowledge of the matter.The company known as Eletrobras will present the 2014 annual report to its auditor, KPMG LLP, and the board for approval before sending it to the U.S. Securities and Exchange Commission by a May 18 deadline, said the people, who asked not to be identified because the matter is private.Eletrobras postponed the filing three times since April 2015 after KPMG refused to sign off on the report while the company investigated allegations of graft at its Angra 3 nuclear power plant in Rio de Janeiro.Eletrobras hired a team of lawyers and specialists to carry out an internal investigation after the 1.4 gigawatt power plant was mentioned during testimony as part of the sweeping investigation known as Carwash, which began at the state-run oil giant Petroleo Brasileiro SA.Eletrobras relied on the same group of builders that admitted to paying Petrobras executive bribes in exchange for lucrative construction work.At least six Eletrobras executives have been placed on temporary leave as the team, led by British-American law firm Hogan Lovells and Brazilian firm WFaria Advogados, carries out the probe, said the people.  Full Article

Centrais Eletricas Brasileiras SA approves inflow of 1 bln Brazilian reais from controlling shareholder
Thursday, 7 Apr 2016 

Centrais Eletricas Brasileiras SA:Says its board has approved inflow of 1.0 billion Brazilian reais from controlling shareholder, as an advance for future capital increase.Says inflow will be intended to cover capital expenditures for FY 2016.  Full Article

Centrais Eletricas Brasileiras SA - Brazil court suspends Amazon hydrodam license on native demands - Reuters
Friday, 15 Jan 2016 

Centrais Eletricas Brasileiras SA:A Brazilian court suspended the operating license for the Belo Monte hydroelectric dam, just weeks before owner Norte Energia SA planned to start electricity generation, prosecutors said on Thursday - RTRS.Judge Maria Carolina Valente do Carmo of the Federal Court in Altamira, Para, said the license will be suspended until Norte Energia and Brazil's government meet a previous license requirement to reorganize the regional office of Funai, the national Indian protection agency - RTRS.A judge had already ordered the government and Norte Energia to carry out the Funai restructuring work in 2014, so Valente do Carmo also fined the government and the company 900,000 reais ($225,000) for non-compliance - RTRS.Belo Monte will have an installed capacity of 11,233 megawatts. Its average output, though, will only be about a third of that as the original reservoir was greatly reduced at the request of native groups and environmentalists. - RTRS.These critics objected to the dam blocking one of the last free-flowing major tributaries of the Amazon. They also opposed an early reservoir plan that would have flooded thousands of square kilometers of virgin rain forest - RTRS.Norte Energia, which is building and will operate the dam, is a consortium led by Brazil's state-run utility Centrais Eletricas Brasileiras; Centrais Eletricas de Minas Gerais; Brazil's Neoenergia SA and Vale SA - RTRS.  Full Article

Brazil's Eletronuclear woes may lead to supply interruption -paper

SAO PAULO, Dec 12 Facing a severe financial crisis, Brazil's state-run nuclear power concern Eletrobras Termonuclear SA may halt operations at two power plants in Rio de Janeiro, newspaper O Estado de São Paulo reported on Tuesday, citing a letter from the firm's acting chief executive.