SABESP announces the publication of Resolution no. 434 and no. 435 by ARSESP Material Fact
SAO PAULO, Nov. 1, 2013 /PRNewswire/ -- Companhia de Saneamento Basico do Estado de Sao Paulo - SABESP ("Company" - BM&FBovespa: SBSP3; NYSE: SBS), one of the largest water and sewage service providers in the world based on the number of customers, in compliance with CVM Rule 358 of January 3, 2002 and amendments, hereby informs to its shareholders and the market in general that on October 31, 2013, the Sao Paulo State Sanitation and Energy Regulatory Agency or ARSESP, published Resolution nº 434 and nº 435:
1) Resolution nº 435:
Authorized the tariff adjustment index of 3.1451% to be applied on a linear basis to all water and sewage consumer categories as of December 11, 2013.
The aforementioned adjustment is not applicable to the municipalities of Lins, Magda, Torrinha and Glicerio, which have different rules.
Upon the readjustment effectiveness, the tariff charts will be available on Sabesp website at www.sabesp.com.br and at the Company's customer service offices.
2) Resolution nº 434:
Fixes the date of March 10, 2014 for the publication of the definitive Initial Maximum Tariff Price (P0) and the Efficiency Factor (Factor X) for the tariff cycle initiated on August 10, 2012, and establishes the following steps for the completion of the first Tariff Review:
i) Stage D1 – Sabesp presents the revised Asset Base (12/5/2013);
ii) Stage D2 – ARSESP publishes its proposals for the Initial Maximum Tariff Price (P0) and the Efficiency Factor (X Factor), initiation of a Public Consultation and call for a Public Hearing (1/10/2014);
iii) Stage D3 – Public Hearing held and Public Consultation concluded (2/5/2014);
iv) Stage D4 – Publication of results related to the Initial Maximum Tariff Price (P0) and the Efficiency Factor (X Factor), report on Public Consultation contributions (3/10/2014); and
v) Stage D5 – ARSESP publishes Sabesp's new Tariff Structure definition and implementation schedule (3/10/2014).