CEMIG
Companhia Energética de Minas Gerais S.A. (CEMIG; English: Energy Company of Minas Gerais) is a Brazilian power company headquartered in Belo Horizonte, capital of the state of Minas Gerais. The company is one of the main electricity concessionaires in Brazil. It operates in the areas of generation, transmission, distribution and commercialization of electric energy and also in the distribution of natural gas. The company is responsible for 12% of the Brazil's distribution. It is the fourth-largest electricity company in Brazil by revenue after Eletrobras, Energisa and CPFL Energia.
Headquarters in Belo Horizonte | |
| Company type | Sociedade Anônima |
|---|---|
Traded as | B3: CMIG3, CMIG4 NYSE: CIG BMAD: XCMIG Ibovespa Component |
| ISIN | BRCMGDDBS009 |
| Industry | Electricity |
| Founded | 1952 |
| Founder | Juscelino Kubitschek |
| Headquarters | , |
Key people | Bernardo Afonso Salomão de Alvarenga (CEO) |
| Products | Electrical power natural gas |
| Services | Electricity distribution Electricity transmission telecommunications |
| Revenue | US$ 6.5 billion (2017) |
Net income | US$ 302.4 million (2017) |
Number of employees | 16,300 |
| Subsidiaries | Light S.A. Taesa |
| Website | www |
CEMIG is present in 22 Brazilian states and in Chile. With around 50 power plants in operation, most of them hydroelectric, the company owns around 6,000 MW of generation capacity. Just over half of Cemig's stock is owned by the state of Minas Gerais.
The company is responsible for serving about 18 million people in 774 municipalities of Minas Gerais and for the management of the largest network of electricity distribution in South America, with more than 400 thousand km of lines.
The stock is traded on B3 where it is part of the Ibovespa index. It is also traded on the New York Stock Exchange. It's also part of The Global Dow and of the Latibex, an index for Latin American companies in Madrid Stock Exchange.
The company owns 43% of Taesa, a Brazilian Electric Company.