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    Francisco Navarrete • Bradesco BBI

    Francisco Navarrete's questions to Companhia de Saneamento Basico do Estado de Sao Paulo - SABESP (SBS) leadership

    Francisco Navarrete's questions to Companhia de Saneamento Basico do Estado de Sao Paulo - SABESP (SBS) leadership • Q1 2025

    Question

    Francisco Navarrete asked if the BRL 100 million negative tariff mix impact would annualize and be recoverable in the tariff review, and also questioned if the remaining BRL 50-60 million revenue gap from discounts would become permanent in 2026.

    Answer

    Executive Daniel Szlak clarified that about 60% of the mix impact is from the new Cadastro Unico criteria and will be compensated in the next tariff review. CEO Carlos Piani added that the company will cease financing the discretionary portion of tariff benefits in June. Regarding commercial discounts, management aims to resolve the issue by year-end, but timing depends on contract runoffs and potential legal challenges.

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    Francisco Navarrete's questions to Companhia Paranaense de Energia (ELP) leadership

    Francisco Navarrete's questions to Companhia Paranaense de Energia (ELP) leadership • Q4 2024

    Question

    Via a written question, Francisco Navarrete requested more details on the underperformance of Copel's wind assets during the quarter and asked about the company's plans to recover this performance.

    Answer

    CEO Daniel Slaviero and an executive (likely Fernando Mano, Head of Generation & Transmission) explained that the weak performance was due to a combination of factors. These included continued high curtailment levels (13% in Q4), lower-than-expected wind resources, and temporary, one-off corrective maintenance issues at the Brisa and Cutia wind complexes. They emphasized that these maintenance issues are being actively addressed with suppliers and are not expected to have a recurring material impact.

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