CURITIBA, Brazil, May 15, 2017 /PRNewswire/ -- Companhia Paranaense de Energia - Copel (NYSE: ELPVY, ELP / Latibex: XCOP / BM&FBovespa: CPLE3, CPLE5, CPLE6), a company that generates, transmits, distributes and sells power, announced its results for the first quarter of 2017.
Copel reported an EBITDA of R$1,006.1 million in the 1Q17, 87.2% higher than the R$537.4 million recorded in the 1Q16, mainly due (a) the recognition of R$224.6 million concerning the remeasurement of transmission assets (RBSE), (b) the result of the distributor's 4th tariff review cycle, in June 2016, plus the 3.5% increase in the grid market, (c) the reduction in the cost of electricity purchase from Itaipu, as a result of the dollar's lower exchange rate, and (d) the 36.1% decrease in charges of the mains transmission and distribution grid, due to the smaller dispatch outside the order of merit. In the 1Q17, Copel reported a net income of R$417.3 million vs. R$136.1 million in the 1Q16.
The complete release is available at the Company's website: www.copel.com/ir
Conference Call: May 16, 2017 - Tuesday
9:00 a.m. – New York Time
Dial in number:
Access Code: Copel
(Simultaneous translation into English)
Live webcast at www.copel.com/ir
Contacts: Investor Relations – COPEL
Phone: (55 41) 3222-2027
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