CURITIBA, Brazil, May 13, 2016 /PRNewswire/ -- Companhia Paranaense de Energia - Copel (NYSE: ELPVY, ELP / Latibex: XCOP / BM&FBovespa: CPLE3, CPLE5, CPLE6), a company that generates, transmits, distributes and sells power, announced its results for the first quarter of 2016.
Copel's net income totaled R$136.1 million in 1Q16, 71.0% lower than the R$470.0 million recorded in 1Q15, while EBITDA fell 36.7%, to R$528.3 million, as a result of (a) lower dispatch from the Araucaria TPP, (b) the strategy adopted by Copel Geracao e Transmissao of allocating more energy to the short-term market at the beginning of 2015, (c) the decline in the spot price (PLD) in the period, (d) the 4.3% reduction in Copel Distribuicao's captive and grid markets, and (e) record of R$121.1 million in provisions and reversals.
The complete release is available at the Company's website: www.copel.com/ir
Conference Call: May 13, 2016
2:30 pm – New York Time
Live webcast at www.copel.com/ir
Contacts: Investor Relations – COPEL
Phone: (55 41) 3222-2027
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