After you have finished migrating your actions to New market B3, THE Copel is preparing to close a cycle that began with the privatization, in August 2023, and will open a new growth front focused mainly on energy distribution activities and the expansion of energy production capacity.
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In an interview with Valueat the B3 headquarters, THE CEO, Daniel Slavierodeclared that the main lever of this strategy is the revision of the energy distributor’s tariffs, scheduled for June 2026. This process represents, according to him, the “last great promise” made since privatization and should structurally change the level of the company.
“There will be a tariff review process for the energy distributor, which will run until 2026, which will change the level of the company. We anticipate a significant increase in the regulatory asset base (RAB), currently at R$8.4 billion (approved in the 2021 tariff review). We hope to double this base in this tariff revision,” he said.
The company expects that the investments made in recent years will be directly reflected in the RAB, which serves as the basis for the distributor’s remuneration. The debate, however, revolves around a possible impact on energy prices. The executive considers that consumer perception tends to be positive, in particular due to the improvement in the quality of service, and emphasizes that the main factors weighing on the electricity bill today are sectoral subsidies.
BRL 17.8 billion investment plan
At the end of June, the Copel approved a robust investment plan of 17.8 billion reais for the period 2026 to 2030. The largest share, 13.5 billion reais, will be allocated to the expansion and modernization of the distribution network, precisely the segment expected to capture the gains from the next tariff revision.
But before that, the company has a more immediate objective: to win the Capacity reserve auctions (LRCap), scheduled for March 2026. The strategy foresees the expansion and modernization of large hydroelectric plants in the portfolio, such as Foz do Areia and Segredo, with the aim of offering up to 2 additional gigawatts (GW) of capacity to the National Interconnected System (SIN) until 2030.
Since privatization, Copel has made a series of moves promised to the market. Among them are the sale of the telecommunications activity, the decarbonization of the portfolio, with the sale of Companions and of Araucária Thermoelectric Power Plant, the sale of small hydroelectric plants, the renewal of power plant concessions and the unbundling of corporate interests.
Even in the face of an intense investment cycle, Slaviero says the company maintains space to balance growth and shareholder returns. THE dividend policy provides for the distribution of 75% of regulatory net profit.
“We have ample room for organic growth and the ability to balance that with good dividend payment. The company has decades of renewed assets and strong cash generation,” he said.
The executive also addressed speculation about his professional future. Coming from a traditional Paraná family (he is the brother of Curitiba Mayor Eduardo Pimentel), Slaviero has seen his name considered for public office, but says he will continue to run the company.
“My plan is to grow with Copel. With the house in order, the reorganization, the investments and the quality of the staff, the company has very great room for growth,” he said.
With the migration to Novo Mercado and the increase in liquidity of shares, Copel plans to join the group of 20 most liquid companies in B3, which tends to facilitate the entry of foreign investors and expand shareholding. For the company, this is the final step in a transformation process that is now beginning to translate more directly into growth and value creation.
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