Daily Current Brazilian Utilities

研报英文原文证据摘录

Daily Current Brazilian Utilities

Global Research

24 June 2026ab

Daily Current Equities

Latin AmericaBrazilian Utilities

Utilities

Giuliano Ajeje

ANEEL approves Copel’s tariff review with a 20.5% increase Analyst

According to Agencia Infra, Aneel approved the periodic tariff review for Copel giuliano.ajeje@ubs.com

Distribuição, which serves about 5.32 million consumer units in the state of Paraná. +55-11-2767 6371

The new tariffs take effect this Wednesday (24), with an average increase of Henrique Simoes

20.51%. For residential consumers, the hike will be 20%, while the average Associate Analyst

adjustments will be 19.85% for low voltage and 21.87% for high voltage (link) henrique.simoes@ubs.com

+55-11-2767 6308

Sanepar precatorio: Agepar decides to allocate 100% of the R$4bn to tariff relief Julia Ongarato

Agepar approved, on Tuesday (23), the final Technical Note on the allocation of Associate Analyst

approximately R$4bn received by the Paraná Sanitation Company (Sanepar).The julia.ongarato@ubs.com

+55-11-2767 6694

document states that 100% of the amount should be allocated to tariff relief, with

50% (R$1,972,196,147.14) directed to non-burdensome investments and 50% (R

$1,972,196,147.14) to discounts on users’ bills. The amount stems from a court-

ordered payment (precatório) made by the Federal Government, following the

recognition of reciprocal tax immunity. (link)(see our report here)

UBS - recently published reports

On June 22 we initiated coverage of Compass - Pipeline to growth - Initiating with

Buy. We initiate coverage on PASS3 with a Buy rating and a R$38/share price target,

representing a 50% upside. Compass is Brazil's largest natural gas platform, sitting

at the intersection of two very different business models. On one side, a portfolio of