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With R$ 100 Thousand, Equatorial Energia Wins Auction of CEEE Distributor in Rio Grande do Sul and Takes on Debt of Nearly R$ 7 Billion
On Wednesday morning (31), Equatorial Energia won the auction for the privatization of the Companhia Estadual de Distribuição de Energia Elétrica-CEEE – D, in Rio Grande do Sul. The company was the only bidder and presented a value of R$ 100 thousand, taking on a debt of nearly R$ 7 billion. The Group expects to improve the service offered and also to enhance customer service in the state.
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“We are experiencing a historic date for Rio Grande do Sul. We opened a privatization process with the sale of CEEE-D, and shortly we will have the sale of CEEE-G and CEEE-T, along with Sulgás, and in the second semester we will have road concessions, with modeling being done with important support from the National Bank for Economic and Social Development (BNDES). This sale for R$ 100 thousand comes with a set of obligations to be undertaken by the private initiative, starting with the investments required in a concession contract that the state company could not make. We are ensuring investments for the population in electricity and also transferring at least R$ 4.4 billion in liabilities accumulated by the company solely in ICMS, which will be assumed by Equatorial,” highlighted Governor Eduardo Leite.
The Equatorial Group serves nearly 10% of the total Brazilian consumers and accounts for 6.5% of the country’s distribution market. The group submitted a proposal of R$ 100 thousand. There was no bidding contest, as this was the only participating company. The transition process to the new shareholder is expected to take 60 to 90 days.
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“Equatorial is in the transmission and distribution segment, and has a long tradition in the sector, given the quality of the service provided in Maranhão, Pará, Piauí, and Alagoas. We promise to work diligently and will make necessary investments to improve quality, expanding the reliability of the service,” assured the president of the Equatorial Group, Augusto Miranda.
Equatorial Energia Takes on Liabilities of Nearly R$ 7 Billion from CEEE
The shares represent the controlling interest in CEEE-D, owned by the Companhia Estadual de Energia Elétrica Participações (CEEE-Par), and were auctioned off in a single lot. The company serves 1.6 million customers in 72 municipalities.
By April of this year, CEEE-D is expected to have liabilities reaching R$ 4.4 billion solely in ICMS, in addition to other obligations like loans, pensions, and ex-autarchic employees — those from when the company was an autarchy. If the sale had not been completed, this amount would have exceeded R$ 7 billion, further worsening the financial situation of RS and generating risks for the service provided to consumers.
Investments in Rio Grande do Sul
Throughout 2021 and 2022, the Equatorial Group will inject investments into the state of Rio Grande do Sul that will help improve service quality and customer care. With this new moment, the company hopes to be a catalyst for the economic and social development of the 72 municipalities in the state that will now be under the new concession, facilitating the growth of businesses in the region and attracting new projects.
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