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    Filipe Andrade

    Research Analyst at Itaú BBA

    Filipe Andrade is an Executive Director and Senior Equity Research Analyst at Itaú BBA, specializing in the Utilities sector with deep expertise in Brazilian electric power and energy infrastructure companies. He covers major companies such as Engie Brasil, CPFL Energia, and CTEEP, and is recognized for his detailed sector outlooks and value-driven stock recommendations, with a strong track record in identifying outperformers within LatAm utilities. Andrade has built his career at Itaú BBA since joining in 2010, progressing from associate roles to his current leadership position, and previously gained experience at Santander. He holds a CFA charter and is licensed in securities with professional credentials including CVM registration in Brazil.

    Filipe Andrade's questions to ENERGY CO OF PARANA (ELP) leadership

    Filipe Andrade's questions to ENERGY CO OF PARANA (ELP) leadership • Q1 2025

    Question

    Filipe Andrade requested details on the energy trading sales strategy for long-term contracts from 2027 onwards, including price levels, and asked for an estimate of how much intraday price volatility contributed to the first quarter 2025 results.

    Answer

    Executive Daniel Slaviero stated that Copel secured long-term contracts with prices close to 190 BRL/MWh for 2027 and above 170 BRL/MWh for 2028. He also quantified the benefit from intraday price volatility, noting it contributed BRL 10 million in February and BRL 20 million in March to the results, and that this positive effect is expected to grow.

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    Filipe Andrade's questions to BRAZILIAN ELECTRIC POWER (EBR) leadership

    Filipe Andrade's questions to BRAZILIAN ELECTRIC POWER (EBR) leadership • Q2 2024

    Question

    Filipe Andrade asked about Eletrobrás's energy trading strategy, specifically focusing on the significant volume of free market contracts set to mature in 2025-2026 and the company's approach to capturing or extending these contracts.

    Answer

    Italo de Carvalho Freitas Filho, Head of Trading, confirmed they are actively targeting this addressable market. The strategy, enabled by a new customer-centric team in Sao Paulo, is to pursue end consumers directly, increase contract durations, and reduce portfolio churn by leveraging their renewable energy assets and developing new products.

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