Companhia Paranaense de Energia - Copel (ELP): Business Model Canvas [Jan-2025 Mise à jour]

Plongez dans le plan stratégique de Companhia Paranaense de Energia (Copel), une centrale d'innovation transformant le paysage énergétique du Brésil. Cette toile complète du modèle commercial révèle comment Copel exploite la technologie de pointe, les pratiques durables et les partenariats stratégiques pour fournir une électricité fiable dans l'État du Paraná, tout en pionnier des solutions d'énergie renouvelable qui positionnent l'entreprise à l'avant-garde du secteur d'énergie en évolution du Brésil. Des infrastructures sophistiquées aux approches centrées sur le client, le modèle de Copel démontre une fusion remarquable des prouesses technologiques, de la responsabilité environnementale et de la résilience économique qui établit une nouvelle norme dans la gestion des services publics.

Companhia Paranaense de Energia - Copel (ELP) - Modèle d'entreprise: partenariats clés

Le gouvernement de l'État du Paraná en tant qu'actionnaire principal

Depuis 2024, l'État de Paraná détient 50.26% du capital de vote de Copel. La structure de propriété du gouvernement est détaillée dans le tableau suivant:

Catégorie des actionnaires	Pourcentage de propriété
État du paraná	50.26%
Flotteur gratuit	49.74%

Partenariats stratégiques avec les fabricants d'équipements énergétiques

Copel maintient des partenariats avec les principaux fabricants d'équipements:

• Siemens Energy
• Weg equipamentos elétricos
• ABB Brésil

Collaboration avec les fournisseurs de technologies d'énergie renouvelable

Les partenariats d'énergie renouvelable de Copel comprennent:

Fournisseur de technologie	Domaine de mise au point	Type de collaboration
Vestas Wind Systems	Technologie d'éoliennes	Approvisionnement en équipement
Solaire canadien	Solutions photovoltaïques	Projets solaires conjoints

Partenariats avec les opérateurs de réseau électrique

Copel collabore avec les opérateurs nationaux de la grille:

• Système national opérateur (ONS)
• Transmission Etrobras
• State Grid Corporation du Brésil

Partenariats de recherche et d'innovation technologique

Les principales collaborations de recherche comprennent:

Institution	Focus de recherche	Investissement annuel
Université fédérale de Paraná	Technologies de grille intelligente	3,2 millions de R
Paraná Technology Institute	Innovation d'énergie renouvelable	2,7 millions de R

Companhia Paranaense de Energia - Copel (ELP) - Modèle d'entreprise: Activités clés

Génération d'énergie électrique sur plusieurs sources d'énergie

Depuis 2024, Copel exploite un portefeuille de production d'électricité diversifié avec les statistiques clés suivantes:

Source d'énergie	Capacité totale installée (MW)	Pourcentage de la génération totale
Hydro-électrique	4,894.2	68.5%
Vent	406.2	5.7%
Solaire	130.5	1.8%
Thermique	337.3	4.7%

Gestion des infrastructures de transmission et de distribution d'énergie

Copel gère une infrastructure énergétique étendue avec les spécifications suivantes:

• Lignes de transmission: 5 232 kilomètres
• Réseau de distribution: 214 154 kilomètres
• Souesses: 296 avec une capacité de transformation totale de 29 458 MVA

Développement du projet d'énergie renouvelable

Le développement des énergies renouvelables de Copel se concentre sur:

Type de projet	Nombre de projets	Capacité planifiée totale (MW)
Sols éoliens	18	643.5
Parcs solaires	12	287.6

Entretien et modernisation du réseau

Investissement annuel dans les infrastructures et la modernisation du réseau:

• Investissement total: 1,2 milliard de R
• Mise en œuvre de la technologie de la grille intelligente: 345 millions de dollars
• Projets d'amélioration de la fiabilité de la grille: 512 millions de rands

Service client et solutions de gestion de l'énergie

Service client et métriques de transformation numérique:

Métrique de service	Valeur
Les clients totaux ont servi	5,1 millions
Interactions de service numérique	3,7 millions par an
Déploiements de compteur intelligent	412 000 unités

Companhia Paranaense de Energia - Copel (ELP) - Modèle d'entreprise: Ressources clés

Infrastructure de production électrique étendue

L'infrastructure de génération électrique de Copel comprend:

Type de génération	Capacité (MW)	Nombre de centrales électriques
Hydro-électrique	4,540.80	21
Énergie éolienne	491.40	16
Petit hydroélectrique	131.40	7
Puissance thermique	258.00	3

Systèmes technologiques avancés et plateformes numériques

Les ressources technologiques de Copel comprennent:

• Technologies de grille intelligente
• Infrastructure de mesure avancée
• Systèmes de gestion des actifs numériques
• Plates-formes de cybersécurité

Ingénierie qualifiée et main-d'œuvre technique

Catégorie des employés	Nombre d'employés	Expérience moyenne
Total de main-d'œuvre	7,430	12,5 ans
Ingénieurs	1,245	15,3 ans
Spécialistes techniques	2,310	11.7 ans

Droits importants de la terre et de l'eau

Portfolio des ressources terrestres et en eau de Copel:

• Total des terres: 12 345 hectares
• Droits de concession en eau: 22 bassins fluviaux
• Zones de gestion des bassins versants: 6 régions principales

Capital financier et capacité d'investissement solides

Métrique financière	Valeur 2023
Actif total	37,2 milliards de R
Budget d'investissement annuel	1,8 milliard de R
Capitaux propres nets	15,6 milliards de R
Equivalents en espèces et en espèces	2,3 milliards de R

Companhia Paranaense de Energia - Copel (ELP) - Modèle d'entreprise: propositions de valeur

Approvisionnement électrique fiable et cohérent pour l'État du Paraná

Copel dessert environ 4,7 millions d'unités de consommation dans l'État de Paraná, avec un réseau de distribution d'électricité totale de 235 107 kilomètres. La Société maintient une alimentation en électricité fiable avec un indice de durée d'interruption moyen (Saidi) du système de 7,91 heures par consommateur en 2022.

Métriques de la distribution d'électricité	Valeur
Unités de consommation	4,7 millions
Longueur du réseau de distribution	235 107 kilomètres
Saidi (durée moyenne des interruptions du système)	7,91 heures / consommateur (2022)

Engagement envers des solutions d'énergie durable et renouvelable

Le portefeuille des énergies renouvelables de Copel comprend:

• Capacité de production totale de 6 185,8 MW
• Génération hydroélectrique: 4 630,7 MW
• Génération d'énergie éolienne: 325,3 MW
• Génération d'énergie solaire: 85,8 MW

Prix ​​de l'électricité compétitif

Copel maintient des tarifs d'électricité compétitifs avec un tarif résidentiel moyen de 0,65 R par kWh en 2022, par rapport à la moyenne nationale brésilienne de 0,75 RWh par kWh.

Innovation technologique dans le secteur de l'énergie

Copel a investi R, 1,024 milliard de RS dans les infrastructures technologiques et l'innovation en 2022, en se concentrant sur les technologies de réseau intelligent et la transformation numérique.

Investissement en innovation	Montant
Investissement total en 2022	1,024 milliard de R

Responsabilité environnementale et développement de l'énergie propre

Le portefeuille d'énergie propre de Copel représente 99,6% de son mélange de production totale, avec un minimum d'émissions de carbone. La société a évité 2,1 millions de tonnes d'émissions de CO2 en 2022 par le biais de la production d'énergie renouvelable.

Performance environnementale	Valeur
Pourcentage d'énergie renouvelable	99.6%
Les émissions de CO2 évitées	2,1 millions de tonnes (2022)

Companhia Paranaense de Energia - Copel (ELP) - Modèle d'entreprise: relations avec les clients

Plateformes de service client numérique

Copel exploite une plate-forme de service client numérique complète avec les mesures suivantes:

Fonctionnalité de plate-forme	Données statistiques
Utilisateurs de portail de service client en ligne	1,2 million d'utilisateurs enregistrés
Téléchargements d'applications mobiles	685 000 téléchargements actifs
Taux de résolution de service numérique	Résolution de 92,4%

Services de conseil à la consommation d'énergie personnalisés

Copel fournit des services de conseil à la consommation d'énergie ciblés avec les caractéristiques suivantes:

• Installations de compteur intelligent: 420 000 clients résidentiels
• Consultations en matière d'efficacité énergétique: 78 000 consultations annuelles
• Recommandations d'économie d'énergie personnalisées pour 65% des clients résidentiels

Systèmes de facturation et de communication transparentes

La transparence de facturation de Copel est démontrée:

Canal de communication de facturation	Statistiques d'utilisation
Livraison de factures numériques	1,1 million de clients utilisant la facturation électronique
Évaluation moyenne de la clarté du projet de loi	4.7 / 5 Score de satisfaction du client

Programmes d'engagement communautaire

Les initiatives d'engagement communautaire de Copel comprennent:

• Investissements de la responsabilité sociale: 12,3 millions de dollars en 2023
• Programmes d'éducation communautaire: 45 municipalités couvertes
• Participants à l'éducation environnementale: 22 000 personnes

Enquêtes régulières de satisfaction des clients

Détails de la mesure de la satisfaction du client:

Métrique d'enquête	2023 Résultats
Indice global de satisfaction client	8.6/10
Taux de réponse au sondage	68% de participation des clients
Évaluation de la qualité du service	94% de commentaires positifs

Companhia Paranaense de Energia - Copel (ELP) - Modèle d'entreprise: canaux

Portail client en ligne

Le portail client en ligne de Copel dessert environ 4,8 millions de clients résidentiels et commerciaux dans l'État de Paraná. Le portail traite environ 1,2 million de demandes de services numériques mensuelles.

Caractéristique du portail	Utilisation mensuelle
Paiements de facture	892 000 transactions
Demandes de service	312 000 demandes
Analyse de la consommation d'énergie	215 000 interactions utilisateur

Application mobile pour les services énergétiques

L'application mobile de Copel compte 1,1 million d'utilisateurs actifs, avec 78% des téléchargements à partir de plates-formes Android et 22% sur iOS.

• Taux de téléchargement de l'application: 45 000 nouveaux utilisateurs par mois
• Transactions de l'application mensuelles moyennes: 673 000
• Volume de paiement mobile: 42,6 millions de R $ par mois

Centres de service client physique

Copel maintient 86 centres de service à la clientèle physiques dans l'État de Paraná, gérant environ 215 000 interactions en personne mensuellement.

Type de centre de service	Nombre de centres	Interactions mensuelles
Principaux centres de service	42	128,000
Centres régionaux	44	87,000

Points de vente au détail autorisés

Copel collabore avec 620 points de vente au détail autorisés pour les paiements de factures et les demandes de service.

• Distribution des points de vente au détail: 78% dans les zones urbaines
• Transactions mensuelles par le biais de points de vente au détail: 312 000
• Volume de paiement par le biais de points de vente au détail: 28,3 millions de dollars

Équipes de vente directe et marketing

L'équipe de vente de Copel se compose de 412 représentants des ventes directes couvrant divers segments de clients.

Segment de l'équipe de vente	Nombre de représentants	Engagement mensuel
Clients résidentiels	218	92 000 interactions
Clients commerciaux	124	45 000 interactions
Clients industriels	70	23 000 interactions

Companhia Paranaense de Energia - Copel (ELP) - Modèle d'entreprise: segments de clientèle

Consommateurs d'électricité résidentielle

En 2023, Copel dessert 2,5 millions de consommateurs d'électricité résidentiel dans l'État de Paraná, au Brésil. La clientèle résidentielle représente environ 67% du portefeuille de distribution d'électricité totale de l'entreprise.

Catégorie client	Nombre de consommateurs	Pourcentage du total
Consommateurs résidentiels	2,500,000	67%

Entreprises industrielles et commerciales

Copel fournit des services d'électricité à 234 000 clients industriels et commerciaux du Paraná. Ces clients représentent environ 25% des revenus totaux de distribution de l'électricité de l'entreprise.

Catégorie d'entreprise	Nombre de clients	Contribution des revenus
Entreprises industrielles	87,500	15%
Entreprises commerciales	146,500	10%

Secteur agricole

Le secteur agricole représente 35 000 consommateurs d'électricité pour Copel, ce qui contribue à 5% des revenus de distribution totale de l'électricité de l'entreprise.

Segment agricole	Nombre de consommateurs	Contribution des revenus
Clients agricoles	35,000	5%

Institutions du secteur public

Copel dessert 12 500 institutions du secteur public, y compris les bâtiments du gouvernement, les écoles, les hôpitaux et les infrastructures municipales.

Catégorie du secteur public	Nombre d'institutions
Bâtiments du gouvernement	4,500
Établissements d'enseignement	5,000
Établissements de santé	3,000

Petites et moyennes entreprises

Les petites et moyennes entreprises constituent 65 000 clients du portefeuille de distribution d'électricité de Copel, ce qui représente environ 3% des revenus totaux.

Taille de l'entreprise	Nombre de clients	Contribution des revenus
Petites entreprises	42,000	2%
Entreprises de taille moyenne	23,000	1%

Companhia Paranaense de Energia - Copel (ELP) - Modèle d'entreprise: Structure des coûts

Frais de maintenance des infrastructures

En 2022, Copel a déclaré des frais de maintenance des infrastructures totalisant 1,2 milliard de R, avec une répartition spécifique comme suit:

Entretien du réseau électrique

Entretien de la ligne de transmission

Entretien de sous-station

Catégorie d'infrastructure	Coût de maintenance (R $)
672,000,000
318,000,000
210,000,000

Investissements technologiques de production d'électricité

L'allocation des investissements technologiques de Copel pour 2022-2023:

Technologies d'énergie renouvelable

Modernisation hydroélectrique

Développement de la grille intelligente

Type de technologie	Montant d'investissement (R $)
456,000,000
287,000,000
189,000,000

Coûts de personnel et d'exploitation

Le personnel de Copel et les dépenses opérationnelles pour 2022:

• Total des dépenses du personnel: 1,05 milliard de dollars
• Salaire et avantages sociaux: 765 000 000 $
• Formation et développement: 12 500 000 $ R
• Coûts de personnel opérationnel: 272 500 000 R $

Dépenses de recherche et développement

Répartition des investissements en R&D pour 2022:

Recherche d'efficacité énergétique

Innovation d'énergie renouvelable

Initiatives de transformation numérique

Zone de focus R&D	Montant d'investissement (R $)
45,000,000
37,500,000
28,000,000

Compliance environnementale et frais de réglementation

Attribution des dépenses environnementales et réglementaires pour 2022:

• Coûts totaux de conformité environnementale: 98 000 000 R $
• Dépenses de déclaration réglementaire: 22 500 000 R $
• Atténuation de l'impact environnemental: 53 000 000 R $
• Certification de durabilité: 22 500 000 R $

Companhia Paranaense de Energia - Copel (ELP) - Modèle d'entreprise: Strots de revenus

Ventes d'électricité aux clients résidentiels

En 2022, Copel a servi 2,2 millions de consommateurs d'électricité résidentielle à Paraná, au Brésil. Le chiffre d'affaires de la vente d'électricité résidentielle a atteint 4,8 milliards de R $ (environ 930 millions de dollars).

Segment de clientèle	Nombre de consommateurs	Revenus (R $)
Clients résidentiels	2,200,000	4,800,000,000

Contrats d'électricité industrielle et commerciale

Copel a généré 6,2 milliards de rands de rands à partir de contrats d'électricité industriels et commerciaux en 2022.

• Contrats d'électricité industrielle: 3,9 milliards de dollars
• Contrats commerciaux d'électricité: 2,3 milliards de dollars

Revenus du projet d'énergie renouvelable

Le portefeuille des énergies renouvelables de Copel a généré 1,5 milliard de R $ en 2022, avec une rupture spécifique:

Type d'énergie renouvelable	Revenus (R $)
Énergie éolienne	650,000,000
Petites plantes hydroélectriques	450,000,000
Énergie solaire	400,000,000

Frais de service de transmission de la grille

Les services de transmission de grille ont généré 1,2 milliard de RS de revenus pour Copel en 2022.

Trading d'énergie et participation au marché

Les activités de trading d'énergie de Copel sur le marché de gros ont généré 800 millions de R $ en 2022.

Activité commerciale	Revenus (R $)
Trading de marché en gros	800,000,000

Total des sources de revenus pour 2022: 14,5 milliards de dollars

Companhia Paranaense de Energia - COPEL (ELP) - Canvas Business Model: Value Propositions

You're looking at the core value Companhia Paranaense de Energia - COPEL (ELP) delivers to its stakeholders as of late 2025, grounded in its operational scale and governance shift.

Highly reliable and integrated energy supply across four segments is a key proposition, supported by an installed capacity of 6.2 GW and a transmission network spanning 9.7 thousand km across eight states. The company operates across four main areas: generation, transmission, distribution, and commercialization.

The commitment to top-tier corporate governance is being formalized through the migration to B3's Novo Mercado segment, with the process expected to conclude in the fourth quarter of 2025, which simplifies the structure to only ordinary shares.

The sustainable energy mix prioritizes renewables, with hydroelectric power still accounting for 65% of output, complemented by investments in wind and solar. Specific figures show a capacity component of 22% wind and 79MW solar capacity mentioned in Q2 2025 context, alongside a signed contract for a 260 MW solar power plant.

The universal service obligation covers more than 5.1 million consumer units across the state of Paraná, with the distribution arm serving 4.3 million homes, representing 28% of the state's electricity consumption.

Operational efficiency gains are directly reflected in the financial performance, driving a Q3 2025 recurring EBITDA of BRL 1.3 billion, an increase of almost 7.8% year-over-year. This efficiency is evidenced by a 4.1% reduction in recurring PMSO (Personnel, Materials, Services, and Others) expenses, which totaled BRL 718.7 million in Q3 2025, with personnel and administrative expenses down 18.4% year-on-year.

Here is a quick look at the Q3 2025 financial snapshot:

Metric	Value (Q3 2025)	Comparison/Detail
Recurring EBITDA	BRL 1.3 billion	Up almost 7.8% year-over-year
Recurring Net Income	BRL 374.8 million	Down 36.5% year-over-year
Total CapEx (9M 2025)	BRL 2.63 billion	Q3 2025 CapEx was BRL 981.4 million
Recurring PMSO Expenses	BRL 718.7 million	Down 4.1% year-over-year

The value proposition for investors is further detailed by the governance and capital structure alignment:

• Migration to Novo Mercado segment expected in Q4 2025.
• Payout minimum policy set at 75%.
• Target leverage ratio of 2.8x Net Debt/EBITDA.
• Distribution billed market grew by 1.7% in Q3 2025.

The company's commitment to its service area is quantified by the service footprint:

• Total Consumer Units in Paraná: Over 5.1 million.
• Residential Customers: 4.3 million homes served.
• Residential Consumption Share: 28% of Paraná's electricity consumption.

Finance: review the impact of the BRL 1.3 billion preferred share conversion payment on the Q4 2025 leverage ratio by next Tuesday.

Companhia Paranaense de Energia - COPEL (ELP) - Canvas Business Model: Customer Relationships

You're looking at the relationship structure for Companhia Paranaense de Energia - COPEL (ELP) as the company operates under a post-privatization mandate, balancing regulated utility obligations with market-driven efficiency.

Regulated service model with high switching costs for distribution customers

As the distributor in its core territory, Companhia Paranaense de Energia - COPEL serves more than 5 million consumer units across 395 municipalities and 1,068 locations (districts, towns and villages) in Paraná. The relationship is characterized by the regulated nature of the distribution concession, which inherently creates high switching costs for residential and small commercial customers tied to the physical network infrastructure. To maintain and improve this regulated base, Companhia Paranaense de Energia - COPEL Distribuição planned to invest 2.5 billion reais in 2025 for projects focused on service quality and efficiency. This modernization effort is part of a larger annual modernization plan totaling R$3 billion (US$500 million), with distribution investments reaching R$678 million in Q1 2025 alone. The company is executing modernization programs, such as Redes Elétricas Inteligentes (Smart Grid), intended to conclude by 2025.

Dedicated account management for large industrial and commercial clients

For high-volume users, the relationship shifts toward tariff structure management, especially given the regulatory focus on large loads. Energy sales to industrial and residential users saw growth of 3.3% in the first quarter of 2025. The regulatory environment is actively considering how to structure terms of service for these users, with public commentary sought on a tentative model tariff for Large Load Customers. This implies a need for dedicated management to navigate infrastructure upgrade cost allocations, which regulators noted could run into the hundreds of millions of dollars for major new demands.

Digital self-service platforms for billing and service requests

Companhia Paranaense de Energia - COPEL is integrating advanced technology to support customer interactions, though specific usage metrics for customer-facing platforms aren't public. Internally, the company has adopted generative AI to empower employees to self-serve data needs from the SAP ERP system, which has already led to realized cost savings by automating manual processes. This internal push for self-service aligns with broader market trends where, for instance, 81% of customers attempt to solve problems independently before contacting a live agent.

Community engagement and social responsibility programs

Community relations are formalized through structured social programs aligned with the 2030 United Nations Sustainable Development Agenda. These programs focus on areas like energy and social inclusion, health, and education. A concrete example of this commitment is Companhia Paranaense de Energia - COPEL's R$ 20 million investment to bring solar energy to isolated and traditional communities on the Paraná coast. Furthermore, the company has an overarching Carbon Neutrality Plan aiming to neutralize GHG emissions for its controlled assets by 2030.

Long-term contracts and risk mitigation for energy trading clients

In the energy trading segment, Companhia Paranaense de Energia - COPEL actively manages its portfolio exposure through contracting. For 2025, the company successfully reduced its non-contracted energy exposure to 57 MWavg. This action was taken to secure higher-priced contracts amid renewable expansion. The trading unit's margin in Q3 '25 was impacted by the effect of legacy contracts from intermittent sources, highlighting the ongoing transition and restructuring of their energy supply agreements.

Here's a quick look at the scale of the distribution customer base and related investment:

Metric	Value	Context/Year
Consumer Units Served	More than 5 million	Directly served
Municipalities Served	395	Paraná state
Distribution Capex Planned	2.5 billion reais	For 2025
Total Annual Modernization Plan	R$3 billion (US$500 million)	2025
Non-Contracted Energy Exposure	57 MWavg	Reduced for 2025

The company's focus on operational efficiency is also visible in personnel cost management, with a 16% reduction in personnel costs year-on-year noted in Q3 '25.

Finance: draft 13-week cash view by Friday.

Companhia Paranaense de Energia - COPEL (ELP) - Canvas Business Model: Channels

You're looking at how Companhia Paranaense de Energia - COPEL (ELP) gets its product-electricity-to its customers and how it communicates with the market. This is all about the physical and digital pathways they use to deliver value and secure capital.

Physical Electricity Grid (Transmission Lines and Distribution Network)

The core channel is the physical infrastructure that moves power across Paraná. This network is substantial, though some figures reflect the end of 2021 data, which is the most granular infrastructure detail available in the latest reports.

The distribution concession is exclusive across 395 municipalities in the State of Paraná, serving over 5 million consumer units as of the latest detailed operational reports. The transmission network is the high-voltage backbone, spanning approximately 9,685 km of lines. The distribution network itself is vast, with approximately 204,957 km of lines.

The distribution segment showed growth in the billed energy market of 1.7% in the third quarter of 2025.

Infrastructure Component	Metric	Latest Available Figure
Installed Capacity (Total)	Megawatts (MW)	Approximately 6,573.9 MW
Transmission Network Length	Kilometers (km)	Approximately 9,685 km
Distribution Network Length	Kilometers (km)	Approximately 204,957 km
Distribution Customers	Consumer Units	Over 5 million

Customer Service Centers and Authorized Payment Agents

For customers needing in-person service or traditional payment methods, Companhia Paranaense de Energia - COPEL relies on physical points of contact. While the company serves over 5 million units, specific, current figures for the exact number of dedicated customer service centers or the count of authorized payment agents are not explicitly detailed in the recent financial disclosures.

You know the service quality is tied to these touchpoints, so if you're tracking operational KPIs, you'll want to watch for updates on service center efficiency, especially following the privatization focus on operational discipline.

Digital Channels (Website, Mobile App) for Billing and Outage Reporting

Digital interaction is key for efficiency gains, which Companhia Paranaense de Energia - COPEL has been prioritizing, evidenced by cost-cutting measures like the 16% year-on-year reduction in personnel expenses in the distribution segment in Q3 2025.

The company makes its investor presentation materials available for download on its Investor Relations website, ri.copel.com.

• Digital channels support the overall efficiency drive, which saw recurring PMSO (Personnel, Material, Services, Others) expenses drop by 4.1% in Q3 2025, totaling BRL 718.7 million.
• The company's focus on operational excellence suggests high adoption rates for digital billing and outage tools, even if specific user counts aren't public.

Direct Sales and Trading Desk for Free Market Energy Contracts

The trading desk is a significant channel for revenue diversification, especially in the free energy market. Companhia Paranaense de Energia - COPEL has been actively expanding this area.

The sales volume for contracts spanning 2026 to 2030 saw massive growth, increasing by 96.2% relative to Q2 2025, adding a sold amount of 431 megawatts. This aligns with the reported 17% free-market customer growth seen in Q2 2025. The trading segment, Copel GeT, posted a recurring EBITDA of BRL 761.4 million in Q2 2025, marking a 12.6% increase year-over-year. Furthermore, the company reduced its non-contracted energy exposure to 57 MWavg for 2025, securing positions in the market.

Trading Metric (Q2/Q3 2025)	Value	Context/Change
Copel GeT Recurring EBITDA (Q2 2025)	BRL 761.4 million	Up 12.6% year-over-year
Free-Market Customer Growth (Q2 2025)	17%	Indicates channel expansion success
Forward Sales Volume Growth (2026-2030)	96.2%	Compared to Q2 '25, adding 431 MW sold
Non-Contracted Energy Exposure (2025)	57 MWavg	Reduced exposure

Investor Relations (IR) for Global Institutional Capital (NYSE: ELP)

The IR function serves as the channel to global capital markets, primarily through the NYSE listing, ticker ELP. As of late 2025, the market capitalization was reported around $7.86 billion to $7.89 billion.

A key recent communication channel for shareholders was the November 18, 2025, announcement regarding the distribution of Interest on Equity (IoE).

The Board approved an IoE distribution based on June 30, 2025, financials, with a gross total amount of R$ 1,100,000.00 (one billion, one hundred million reais). The gross amount per common share was set at R$ 0.37041621069. For direct inquiries, the Investor Relations team can be reached at ri@copel.com.

• NYSE Ticker: ELP
• Market Capitalization (Nov 2025): Between $7.86B and $7.89B
• IoE per Common Share (Gross): R$ 0.37041621069
• IR Contact Email: ri@copel.com

Finance: draft 13-week cash view by Friday.

Companhia Paranaense de Energia - COPEL (ELP) - Canvas Business Model: Customer Segments

Companhia Paranaense de Energia - COPEL (ELP) serves a diverse base of energy consumers primarily within the state of Paraná, Brazil, directly serving more than 5.1 million consumer units across 395 municipalities and 1,068 locations as of late 2025.

Residential consumers (largest volume of consumer units)

This segment represents the largest volume of consumer units for Companhia Paranaense de Energia - COPEL (ELP). The company serves these customers through its distribution arm, Copel Distribuição S.A., which segments them primarily under Group B (low voltage) as per ANEEL Normative Resolution number 1000/2021.

• Total consumer units served: more than 5.1 million in Paraná.
• Residential consumption in Q3 2025 was 2,366 GWh, showing a year-over-year growth of 4.0%.

Commercial businesses and small-to-medium enterprises (SMEs)

Commercial clients fall under both Group A (medium/high voltage) and Group B (low voltage) depending on their scale and technical requirements. This segment showed positive consumption trends in the third quarter of 2025.

• Commercial energy consumption in Q3 2025 reached 1,727 GWh, a 2.2% increase year-over-year.

Large industrial consumers requiring high-volume, reliable power

These are typically Group A clients, demanding higher technical and regulatory complexity for their power supply. Companhia Paranaense de Energia - COPEL (ELP) focuses on providing quality and security in contracts for this segment.

The industrial segment is a major consumer of energy volume. For instance, in Q1 2025, energy sales to industrial users grew by 3.3% year-over-year, reflecting the economic activity in Paraná.

Customer Segment	Latest Volume Metric	Value (2025 Data)
Residential Consumers (Units)	Total Consumer Units Served	More than 5.1 million
Residential Consumers (Energy)	Q3 2025 Billed Energy (GWh)	2,366 GWh
Industrial Consumers (Energy)	Q3 2025 Billed Energy (GWh)	3,293 GWh
Commercial Consumers (Energy)	Q3 2025 Billed Energy (GWh)	1,727 GWh

Energy trading clients and other utility companies

The energy commercialization arm, Copel Comercialização (Copel Mercado Livre), serves clients in agribusiness, commerce, industry, services, the public sector, and other energy traders and generators.

Companhia Paranaense de Energia - COPEL (ELP) has actively grown its presence in the deregulated market. The company reported a 17% growth in free-market customers as of Q2 2025.

Key expectations from these trading clients include cost reduction, predictability, and flexibility of negotiation.

Rural customers in the concession area

Rural customers are served under the distribution network, and Companhia Paranaense de Energia - COPEL (ELP) has specific infrastructure programs aimed at this group. The company has a program called Paraná Trifásico to strengthen the reliability of its rural energy network.

• The company has 402 on-site service stations across all municipalities in its concession area to support service delivery.

Companhia Paranaense de Energia - COPEL (ELP) - Canvas Business Model: Cost Structure

The Cost Structure for Companhia Paranaense de Energia - COPEL (ELP) is heavily weighted toward capital-intensive infrastructure maintenance and necessary operational inputs, reflecting its regulated utility nature. You see significant outflows dedicated to maintaining and upgrading the grid, plus the direct costs of the energy it sells.

High Capital Expenditures (CapEx)

Companhia Paranaense de Energia - COPEL (ELP) is executing a significant investment cycle. For the first nine months of 2025, the total CapEx reached BRL 2.6 billion. This heavy spending is directed toward network modernization and service quality improvements, especially within the distribution arm. To give you a clearer picture of the investment cadence, the CapEx for the first quarter of 2025 was BRL 678 million, and the third quarter alone saw BRL 981 million in CapEx.

Personnel, Materials, Services, and Others (PMSO) Expenses

Controlling PMSO is a clear priority, though costs still fluctuate based on operational needs and restructuring efforts. For the third quarter of 2025, recurring PMSO expenses totaled BRL 718.7 million. This followed a Q2 2025 figure of BRL 708.3 million, which was down from BRL 735.9 million in the same period of the prior year. Management has set an internal target for a 20% cost reduction in PMSO by the end of 2025.

The composition of these expenses is managed through specific actions:

• Personnel and administrative expenses saw an 18.4% reduction in Q3 2025 due to voluntary severance programs.
• A 16% year-on-year reduction in personnel costs was noted in the distribution segment in Q3 2025.
• In Q2 2025, personnel and administrative expenses dropped by almost 15% year-over-year.

Financial Costs and Debt Structure

Financial costs are a notable component, often influenced by the prevailing interest rate environment in Brazil. In the fourth quarter of 2024, expenses related to monetary variation, exchange rate, and debt charges increased by BRL 84.8 million, representing a 20.7% rise, driven by higher debt levels and the CDI rate. Despite this, the company maintains a relatively controlled balance sheet, reporting a debt-to-equity ratio of 0.63 as of the third quarter of 2025. Furthermore, a significant cash outflow related to financing decisions was the approval of an R$ 1.1 billion Interest on Equity distribution in November 2025.

Energy Purchase Costs

The cost of energy purchased for resale is a variable but substantial cost, particularly for the trading and distribution segments. In the second quarter of 2025, there was an increase of BRL 126.3 million in the cost of energy purchased for resale, which put pressure on the results, especially for distribution. This is a direct pass-through cost that Companhia Paranaense de Energia - COPEL (ELP) must manage against its regulated tariffs and free-market sales.

Regulatory Charges and Concession Fees

Regulatory obligations are fixed costs tied to the right to operate the concession. The tariff structure directly reflects these costs. For instance, the 2.02% average tariff adjustment approved for Copel Distribuição S.A. in June 2025 included updates to sectoral charges. The company's heavy investment focus in distribution during Q1 2025, which consumed 87% of the quarter's CapEx, was explicitly aimed at the regulatory remuneration base, indicating that compliance and optimization within the regulated framework drive significant spending.

Here are some key financial metrics that define the scale of these costs and the company's financial footing as of late 2025:

Financial Metric	Amount/Value	Period/Context
Total CapEx	BRL 2.6 billion	9 Months of 2025
Recurring PMSO Expenses	BRL 718.7 million	Q3 2025
Debt Charges Increase (Q4 2024 vs Q4 2023)	BRL 84.8 million	4Q24
Energy Purchase Cost Increase (Q2 2025 vs Q2 2024)	BRL 126.3 million	Q2 2025
Debt-to-Equity Ratio	0.63	As of Q3 2025
Approved Interest on Equity Payment	R$ 1.1 billion	Approved November 2025

The debt charges increase was 20.7% year-over-year in 4Q24. The company's net margin for the quarter was 12.77%. Finance: draft 13-week cash view by Friday.

Companhia Paranaense de Energia - COPEL (ELP) - Canvas Business Model: Revenue Streams

Companhia Paranaense de Energia - COPEL (ELP) derives revenue from its integrated operations across the power value chain, including generation, transmission, distribution, and commercialization.

Total TTM revenue ending September 30, 2025, was approximately BRL 24.95 billion.

Key components contributing to the top line include:

• Regulated revenue from electricity distribution tariffs, with a specified TUSD adjustment of 6.8% occurring in June.
• Revenue generated from electricity generation and transmission services.
• Energy sales realized in the free market (trading).
• Equity earnings derived from consolidated strategic assets.

Looking specifically at the third quarter of 2025 results, the company posted a quarterly revenue of $6.81 billion. Operationally, Companhia Paranaense de Energia - COPEL recorded sales of almost 5 GWh in the third quarter of 2025. The distribution grid market saw electricity consumption grow by 1.7% in the third quarter of 2025 compared to the prior year.

The generation segment faced operational challenges, recording a Generation Scaling Factor (GSF) of approximately 65% in Q3 2025. Conversely, the spot market price (PLD) increased by close to 50% compared to Q3 2024, reaching about BRL 250 BRL/MWh.

The table below summarizes key financial performance indicators for the nine months and the third quarter of 2025:

Metric	Period	Amount	Unit
Total TTM Revenue	TTM ending September 30, 2025	24.95 billion	BRL (implied)
Quarterly Revenue	Q3 2025	6.81 billion	USD
Recurring EBITDA	Q3 2025	1.3 billion	BRL
Recurring Net Income	Q3 2025	374.8 million	BRL
CapEx	Nine months of 2025	2.6 billion	BRL
CapEx	Q3 2025 alone	981 million	BRL

The company also highlighted its capital structure management, noting that the net debt to total debt ratio was three times in the quarter, which would have been 2.8 times considering the sale of Mashu HPP completed in October. Total net debt before that sale was BRL 16.6 billion.

Companhia Paranaense de Energia - COPEL is preparing for a historical tariff review in the distribution company scheduled for 2026.