AES Eletropaulo

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AES Eletropaulo S.A.
Type Sociedade Anônima
Traded as BM&F BovespaELPL3
Industry Electricity
Founded 1899
Headquarters Barueri, Brazil
Key people Andrew Martin Vesey (Chairman)
Britaldo Pedrosa Soares (CEO)
Products Electrical power
Services Electricity distribution
Revenue Decrease US$ 3.8 billion (2013) [1]
Net income Increase US$ 83.8 million (2013) [2]
Employees 10,000
Parent AES Corporation
BNDES
Website www.aeseletropaulo.com.br

AES Eletropaulo (Portuguese: Eletropaulo Metropolitana - Electricidade de São Paulo S.A) is a major Brazilian power distributor in the state of São Paulo, created in the breakup of the old state-owned power distribution company Eletropaulo that monopolized electricity distribution in São Paulo from 1981 to 1999. The similarity of the names makes most old customers call it simply Eletropaulo.

The company has around 5.8 million customers - nearly 16.3 million people - in an area of 4526 kilometers ², in 24 municipalities in the metropolitan area of São Paulo, including the city itself;

Its stock is traded on BM&F Bovespa, where it is part of the Ibovespa index. The company is majority owned by AES Corporation.

History[edit]

Electrical power infrastructure in São Paulo was originally developed in the first half of the 20th century by the São Paulo Tramway, Light and Power Company, a company financed with foreign capital and legally domiciled in Toronto, Canada. After 1912, this company was part of the holding company Brazilian Traction, Light and Power Company (usually known in Brazil simply as "Light"), which eventually changed its name to Brascan (for "Brasil" + "Canada"). At the end of the 1970s, the company's Brazilian assets transferred to Brazilian ownership, first to private hands and then (in 1981) to the government of the state of São Paulo. The Canadian company, which had in the meantime diversified to other areas, still exists under the name Brookfield Asset Management.

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