Daily Current "Brazilian Utilities" Ajeje

Research evidence excerpt

Daily Current "Brazilian Utilities" Ajeje

Global Research

24 July 2026ab

Daily Current Equities

Latin AmericaBrazilian Utilities

Utilities

Giuliano Ajeje

Eneva receives R$340 million and terminates LNG agreement with Vale Analyst

According to MegaWhat, Eneva received R$340 million and closed its LNG giuliano.ajeje@ubs.com

agreement with Vale. The announcement marks the conclusion of the contractual +55-11-2767 6371

arrangement between the companies and is relevant for monitoring Eneva’s cash Henrique Simoes

generation, contract portfolio, and exposure to gas-related commercial Associate Analyst

agreements.(link) henrique.simoes@ubs.com

+55-11-2767 6308

Enel SP challenges index used by Aneel and requests annulment of forfeiture Julia Ongarato

process Associate Analyst

According to MegaWhat, Enel São Paulo is contesting the index used by Aneel and julia.ongarato@ubs.com

+55-11-2767 6694

requested the annulment of the forfeiture process involving its concession. The

company’s move reinforces the ongoing regulatory dispute around the case and

keeps the potential concession expiration process as an important issue to monitor

for the distributor. (link)

BTG increases stake in Light to 18.76%

According to MegaWhat, BTG increased its stake in Light to 18.76% of the company’s

shares. The increase strengthens BTG’s position as a relevant shareholder and

should be monitored for potential implications for Light’s shareholder base and

governance dynamics. (link)

UBS - recently published reports

On July 9 we updated our Alupar model - "Planting the seed for the future" (Buy). We

updated our model, maintained a Buy rating and increased our PT to R$41/share,

from R$40/share. We incorporated the company's latest results and energy balance,