Successful Strategy

900 800 700 600 500 400 300 200 100 jan/12 fev/12 mar/12 abr/12 mai/12 jun/12 Spot Market: 2012 - 2015 Brazil: electricity spot price - monthly average (R$/MWh) ми 163,94 655,52 M 260,53 jul/12 ago/12 set/12 out/12 nov/12 dez/12 jan/13 fev/13 mar/13 Monthly average spot price, R$/MWh *Source: CCEE 2012 average abr/13 mai/13 jun/13 jul/13 ago/13 set/13 out/13 nov/13 dez/13 jan/14 fev/14 mar/14 abr/14 mai/14 jun/14 jul/14 ago/14 set/14 out/14 nov/14 dez/14 jan/15 fev/15 mar/15 abr/15 mai/15 jun/15 jul/15 ago/15 set/15 out/15 nov/15 2013 average 2014 average 2015 average dez/15 32 CEMIG 282,79 174,19

View entire presentation