TRANSMISSÃO PAULISTA




  Company Presentation
Latin Energy Conference 2005   December 8, 2005
CORPORATE INFORMATION
TRANSMISSÃO PAULISTA - OPERATING REGION
                                                                                  ...
OPERATING INFORMATION
                  September/05


Transmission Lines
   Lines length                   11,837 km
   C...
OPERATING INFORMATION
                  September/05



Telecommunications
    Microwave stations             145
    Tele...
ENERGY TRANSMITTED IN 2004 (GWh)

                                               65,792       ELETROPAULO
                ...
Ownership Structure
                                          September 2005

                                    Total: 1...
OPERATING REVENUES
                             R$ Millions


                                           09.30.05   09.30....
INCOME STATEMENT
                                    R$ Millions
                                             09.30.05    ...
RATIOS
                9 MONTHS PERIOD - %




                                 2005   2004

OPER. EXPENSE/ NET REVENUE   ...
BALANCE SHEETS - ASSETS
                 R$ Millions




                               09.30.05


CURRENT ASSETS         ...
BALANCE SHEETS - LIABILITIES
               R$ Millions




                             09.30.05

CURRENT LIABILITIES    ...
FINANCIAL DEBT
                                        R$ Millions

                                   AMORTI-      INTERE...
OPERATING REVENUES
TRANSMISSION MODEL
                      CONTRACTUAL RELATIONS




                                                       ...
LEGAL BASIS: CONCESSION CONTRACT


!   Annual adjustment in July 1st of each year


!   index: IGP-M (FGV)


!   revenue r...
PERMITTED ANNUAL REVENUE
                 RAP = RPB + RPC + PA

RAP = permitted annual revenue

      RPB = basic network ...
ALLOWED ANNUAL REVENUE
                    RAP = RPB + RPC + PA

RPC = permitted revenue of other installations of transmi...
ANEEL RESOLUTION # 149/2005

                CRITERIA USED BY ANEEL



• Revenue Periodical Revision
  Considering that th...
PERMITTED ANNUAL REVENUE - RAP
                            07/01/05 to 06/30/06 cycle - R$ Millions

                     ...
BUDGET CONTEXT
     2006
EVOLUTION OF THE TRANSMISSION BASIC NETWORK
                                                      (in Km)

               ...
TRANSMISSION PLANNING SYSTEM


          EXPANSION SECTORIAL PLANS                   TRANSMISSÃO
                         ...
ANEEL CAPITAL MODEL (1)

Assumption: each project should be financed by 60% of debt and
            40% of equity

       ...
ANEEL CAPITAL MODEL




Additional issues

The model is applied for auctions and expansion projects
authorized by ANEEL fo...
INVESTMENT BUDGET FOR 2006 (*)

                                                       R$ millions


 1. Improvements     ...
ANEEL RESOLUTION # 158/2005
                         MAY 23, 2005



SCOPE

IT   ESTABLISHES   DEFINITIONS   FOR    REINFO...
ANEEL RESOLUTION # 158/2005




" THE   RESOLUTION ESTABLISHES THAT SOME REINFORCEMENTS

 AND IMPROVEMENTS SHALL BE IMPLEM...
PERFORMANCE EVOLUTION
      2001 - 2005
OPERATING EXPENSES / NET OPERATING REVENUES
                     %




   90.0

            83.2

                     75....
PERSONNEL / NET REVENUES
                     %



  40.7
            37.6
                     36.7



                  ...
EBITDA / NET REVENUES
                    %



                              52.8     52.3



                     43.7
  ...
OPERATING PROFIT / NET REVENUES
                      %




                                         38.0
                ...
NET PROFIT / NET REVENUES
                       %




                                         37.7

                    ...
NET PROFIT / EQUITY
                     %



                                         11.5


                            ...
MARKET VALUE
                                        12/28/01 to 12/02/05
540
                                            ...
MARKET VALUE
                     R$ per thousand shares


                                                             28...
PRIVATIZATION
PRIVATIZATION


RELEVANT NOTICE - February 03, 2005
Project of Law on CTEEP privatization sent to the State Legislature

R...
PRIVATIZATION



NOTICE TO THE MARKET – December 2, 2005
São Paulo State Government publishes notice about CTEEP Privatiza...
PRIVATIZATION



As a result of the procedures referred to in the notices published on the
subject, the valuation services...
www.cteep.com.br
www.transmissaopaulista.com.br


     INVESTORS RELATION

        ri@cteep.com.br



                    ...
TRANSMISSÃO PAULISTA




  Company Presentation
Latin Energy Conference 2005   December 8, 2005
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CTEEP - Latin Energy Conference 2005

  1. 1. TRANSMISSÃO PAULISTA Company Presentation Latin Energy Conference 2005 December 8, 2005
  2. 2. CORPORATE INFORMATION
  3. 3. TRANSMISSÃO PAULISTA - OPERATING REGION S/E BRAGANÇA PAULISTA S/E ARARAQUARA S/E BOM (CEMIG) JARDIM (FURNAS) MINAS GERAIS UHE JOSÉ ERMÍRIO DE MORAES (ÁGUA VERMELHA) UHE JAGUARI MOGI CABREÚVA (FURNAS) S/E S. J. DOS (ELEKTRO) MAIRIPORÃ CAMPOS (SABESP) RIO GRANDE S/E BOTUCATU CARDOSO GUARULHOS (FURNAS) MOGI S/E TAUBATÉ (ELEKTRO) PIRITUBA NORDESTE ANHANGUERA ITAPETI NORTE JALES UHE ILHA (ELEKTRO) EDGARD DE R. REBERTE F. SOLTEIRA IBIÚNA S/E RIO SOUZA S/E BAURU (FURNAS) CENTRO PARDO STO. ÂNGELO ILHA ANHANGUERA ETR SOLTEIRA VOTUPORANGA II PROVISÓRIA CENTRO MATO GROSSO M. FORNASARO M. REALE LESTE TIJUCO PRETO (FURNAS) DO SUL (CPFL) XAVANTES BANDEIRANTES UHE ENG. BERTIOGA II SOUZA DIAS SUL (JUPIÁ) UHE S. JOSÉ DO INTERLAGOS JUPIÁ TRÊS RIO PRETO PIRATININGA S/E SÃO TRÊS IRMÃOS SEBASTIÃO IRMÃOS (CNEE) RIO (ENERSUL) PA UHE NOVA RD (CPFL) (ELEKTRO) O HENRY AVANHANDAVA (CPFL) (CPFL) BORDEN (CNEE) EMBU GUAÇU BAIXADA UBARANA CATANDUVA SANTISTA VALPARAÍSO VICENTE DE RIBEIRÃO CARVALHO PRETO (ELMA) P. TAQUES UHE MÁRIO (BE) LOPES LEÃO PENÁPOLIS (PROMISSÃO) ITAIPAVA (ELEKTRO) (CPFL) MOCOCA UHE EUCLIDES Á (CPFL) MONGAGUÁ N (CPFL) DA CUNHA RA UHE A. SALLES UHE CACONDE PA DRACENA (ELEKTRO) RIO OLIVEIRA RIO TIE (LIMOEIRO) FLÓRIDA TÊ (CAIUÁ) PAULISTA CASA BRANCA S/E PERUÍBE S. JOSÉ DO SÃO CARLOS I RIO PARDO (CPFL) DESCALVADO UHE IBITINGA ARARAQUARA (CPFL) POÇOS DE CALDAS PORTO FERREIRA (FURNAS) PRES. PRUDENTE II TUPÃ (CAIUÁ) (EEVP) (CPFL) (CAIUÁ) UHE A. SOUZA LIMA SÃO JOÃO DA PRES. PRUDENTE I (BARIRI) BOA VISTA II RANCHARIA (EEVP) SÃO CARLOS II PINHAL (CPFL) STA. LINA BAURU (CPFL) DOURADOS (EEVP) MOGI GUAÇU I (ENERSUL) UHE SERGIO MOTA (CESP) (ELEKTRO (PTO. PRIMAVERA) (CPFL) (CPFL) MOGI MIRIM II (CESP) (CTEO) ASSIS RIO CLARO I (EEVP) UHE BARRA MOGI MIRIM III BONITA RIO (CPFL) PTO. PRIMAVERA PA RAN (CTEO) APA LIMEIRA I NEM ASSIS UHE ESCOLA A POLITÉCNICA UHE ROSANA (TAQUARUÇU) (CPFL) STA. CABEÇA BERN. DE CAMPOS JAGUARIUNA UHE ESCOLA DE (CLFSC) STA. BARBARA ENG. MAK ENZIE (CPFL) D' OESTE OURINHOS BOTUCATU (EEB) ÍBA (CAPIVARA) (CLFSC) (CLFSC) PA RA RIO DE (COPEL) (COPEL) RIO JANEIRO (FURNAS) APARECIDA UHE SUMARÉ BRAGANÇA UHE (EPTE) (BE) PAULISTA CANOAS I UHE CHAVANTES TAUBATÉ CANOAS II UHE LUCAS TIETÊ N. GARCEZ UHE (BE) AVARÉ (CPFL) (COPEL) (SALTO GRANDE) JAGUARI (CLFSC) BOM JARDIM UHE ARMANDO (ELEKTRO) CABREUVA MOGI A. LAYDNER CERQUILHO (FURNAS) UHE (JURUMIRIM) (COPEL) MOGI S. J. DOS PARAIBUNA MAIRIPORÃ CAMPOS (COPEL) (SABESP) ITAPETININGA I CBA ITAPETI (PETROBRÁS) UBATUBA EDGARD DE ITAPETININGA II IBIÚNA SOUZA STO. ÂNGELO RIO PARDO (ELEKTRO) TIJUCO (BE) (FURNAS) PRETO LEGENDA TERMINAL TERMINAL (FURNAS) CARAGUATATUBA (CSPE) OESTE SUL INTERLAGOS BERTIOGA II (BE) USINA HIDRELÉTRICA PARANÁ (ELEKTRO) SÃO SEBASTIÃO ITAPEVA BAIXADA (PETROBRÁS) CAPÃO BONITO EMBU GUAÇU SANTISTA USINA C/ SUBESTAÇÃO CTEEP ITARARÉ II VICENTE DE CARVALHO (ELMA) ITARARÉ I P. TAQUES SUBESTAÇÃO CTEEP (ELEKTRO) (BE) O MONGAGUÁ TIC SUBESTAÇÃO OUTRAS CIAS. ÂN (COPEL) A TL SUBESTAÇÃO INDUSTRIAL NO PERUÍBE EA OC REGISTRO LT FUTURA LT 230 kV LT 500 kV LT 230 kV SUBTERRÂNEA (ELEKTRO) LT 440 kV LT 138 kV LT 345 kV LT 88 kV LT 345 kV SUBTERRÂNEA LT 69 kV LT DE OUTRAS CONCESSIONÁRIAS SETEMBRO / 2001
  4. 4. OPERATING INFORMATION September/05 Transmission Lines Lines length 11,837 km Circuits length 18,267 km Substations Number of substations 100 Number of transformers 464 Number of reactors 70 Energy transmitted in 2004 120,722 GWh Transforming capacity 38,515 MVA Number of employees 2,948 4
  5. 5. OPERATING INFORMATION September/05 Telecommunications Microwave stations 145 Telephone stations 108 Optical fiber cables 1,400 km Control Centers System Operation Center 1 Bom Jardim Regional Operation Centers 3 Bauru Cabreúva São Paulo 5
  6. 6. ENERGY TRANSMITTED IN 2004 (GWh) 65,792 ELETROPAULO 36,341 BANDEIRANTE CESP ~ PIRATININGA 11,944 AES ~ 16,821 CPFL 11,167 DUKE ~ 11,549 ELEKTRO 1,424 PETROBRÁS ~ 3,682 731 CBA + Carbocloro EMAE ~ 471 2,471 Grupo Rede CBA ~ 55,171 2,323 CPEE+CSPE+ FURNAS (T) CJE+CLFM 6,303 3,222 1,855 Enersul (ESD+ CEMIG (T) PPR+Selvíria) 831 600 Cia Luz e Força 9 120,722 Santa Cruz COPEL (T) 2,223 60 Petrobrás, R. Pardo 235 Outros ELETROSUL (T) 416 4,829 Perdas, Cons. Pp. 7 Serv. Auxiliar LIGHT (T) 967 ~ GENERATING Co. TRANSMITTING Co. DISTRIBUTING Co. OTHERS 6
  7. 7. Ownership Structure September 2005 Total: 149.3 billion shares ON PN 42% 58% Total OS: 62.6 billion Total PS: 86.7 billion União Metrô 15% Others 3% Individuals State of 22% São Paulo 6% Eletrobrás 15% 10% BNDES Individuals 3% 5% State of Others São Paulo 6% Eletrobrás 61% 54% 7
  8. 8. OPERATING REVENUES R$ Millions 09.30.05 09.30.04 BASIC NETWORK Existing Assets 632 472 New Investments 104 49 Payment in advance 6 20 742 541 CONNECTION ASSETS Existing Assets 175 302 DIT´s - New Investments 7 3 182 305 REGULATORY CHARGES CCC 22 4 CDE 12 2 34 6 ADJUSTMENT INSTALLMENT (4) (9) 954 843 8
  9. 9. INCOME STATEMENT R$ Millions 09.30.05 09.30.04 Variation % NET REVENUE 890.2 760.6 17.0 OPERATING EXPENSES (425.1) (362.9) 17.1 EBITDA 465.1 397.7 16.9 EBITDA MARGIN 52.3% 52.3% - DEPRECIATION (127.0) (123.7) 2.7 OPERATING INCOME 338.1 274.0 23.4 OPERATING MARGIN 38.0% 36.0% - FINANCIAL RESULT 101.0 57.7 75.0 NON OPERATING INCOME 0.5 7.1 - INCOME BEFORE TAXES 439.6 338.8 29.8 IR AND CSLL (104.2) (108.1) (3.6) NET INCOME 335.4 230.7 45.3 NET MARGIN 37.7% 30.3% - Earnings per thousand shares – R$ 2.25 1.55 45.3 INTEREST ON CAPITAL 149.4 27.2 449.3 9
  10. 10. RATIOS 9 MONTHS PERIOD - % 2005 2004 OPER. EXPENSE/ NET REVENUE 62.0 64.0 PERSONNEL / NET REVENUE 28.2 30.1 SERVICE RESULT / NET REVENUE 38.0 36.0 EBITDA / NET REVENUE 52.3 52.3 NET INCOME / NET REVENUE 37.7 30.4 ANNUALIZED NET INCOME / EQUITY 11.5 8.5 10
  11. 11. BALANCE SHEETS - ASSETS R$ Millions 09.30.05 CURRENT ASSETS 1,067 LONG TERM ASSETS 369 PERMANENT ASSETS 3,480 4,916 11
  12. 12. BALANCE SHEETS - LIABILITIES R$ Millions 09.30.05 CURRENT LIABILITIES 350 LONG-TERM LIABILITIES 562 DEFERRED INCOME 122 SHAREHOLDERS´ EQUITY 3,882 4,916 12
  13. 13. FINANCIAL DEBT R$ Millions AMORTI- INTEREST BALANCE BALANCE INSTITUTION TERM PAYMENTS ZATION RATE 12.31.04 09.30.05 F CESP - CTEEP RES. 1997/2005 96 months IGPDI + 6.00% 18 14 5 F CESP - CTEEP BSPS 1997/2017 240 months IGPDI + 6.00% 84 1 84 F CESP - EPTE BSPS 1997/2017 240 months IGPDI + 6.00% 150 8 150 252 23 239 SOCIÉTÉ GÉNÉRALE 1998/2006 10 sem. EURO + 9.59% 40 11 20 ELETROBRÁS 1994/2021 80 quar. UFIR + 8.00% 1 - 1 41 11 21 TOTAL 293 34 260 13
  14. 14. OPERATING REVENUES
  15. 15. TRANSMISSION MODEL CONTRACTUAL RELATIONS T R A N S M I TTING COMP. BASIC NETWORK CUST CPST USERS ONS (1) CCT No. of agents No. of agents 1998: 43 1998: 13 2005: 141 2005: 46 (1) ONS – National Electric System Operator 15
  16. 16. LEGAL BASIS: CONCESSION CONTRACT ! Annual adjustment in July 1st of each year ! index: IGP-M (FGV) ! revenue review every 4 years, only for new investments; first review in July/2005 (postponed) for works energized after December/99 16
  17. 17. PERMITTED ANNUAL REVENUE RAP = RPB + RPC + PA RAP = permitted annual revenue RPB = basic network revenue RPB = RBSE + RBNI + RBNIA RBSE = basic network revenue of services existing on 12/31/99 RBNI = basic network revenue of investments concluded after 12/31/99 until 06/30/05 17
  18. 18. ALLOWED ANNUAL REVENUE RAP = RPB + RPC + PA RPC = permitted revenue of other installations of transmission (DIT’s) and connection DIT’s = transmission assets recognized by ANEEL as integrating the fixed asset of the transmitting company, that do not integrate the basic network and made available to the distributing or generating companies CONNECTION = set of maneuver, protection, control, measuring necessary to connect the installation of one or more users equipment necessary to connect one or more users to the transmission system PA = adjustment installment - revenue deficit ou superavit of the transmitting company in the previous period (June / May) 18
  19. 19. ANEEL RESOLUTION # 149/2005 CRITERIA USED BY ANEEL • Revenue Periodical Revision Considering that the regulation on the subject was not defined by ANEEL, the periodical revision will be made in a future date • Adjustment as from July 1st, 2005 9.0752% (IGP-M variation from June/04 to May/05) 19
  20. 20. PERMITTED ANNUAL REVENUE - RAP 07/01/05 to 06/30/06 cycle - R$ Millions 07/01/04 07/01/05 Variation Res. 70/04 Res. 149/05 % 1. Basic Network - RB 785.7 1,030.2 31.12 1.1- RB – SE (existing assets) 670.9 903.3 34.64 1.1.1- Base value 687.7 750.1 9.07 1.1.2- Reclassification -16.8 153.2 -1,011.90 1.2- RB – NI (new investments) 114.8 126.9 10.54 1.2.1- Base value 33.5 93.3 178.51 1.2.2- Reclassification -12.4 - - 1.2.3- NI after 06/30/03 93.7 - - 1.2.4- NI after 06/30/04 - 33.6 - 2. Other Transmission Assets - DIT 399.8 291.5 -27.09 2.1- DIT – SE (existing assets) 379.7 285.0 -24.94 2.1.1- Generating companies 6.4 5.1 -20.31 2.1.2- Distributing companies 309.0 433.1 40.16 2.1.3- Reclassification 64.3 -153.2 -338.26 2.2- DIT – NI (new investments) 20.1 6.5 -67.66 2.2.1- Distributing companies 7.7 6.5 -15.58 2.2.2- Reclassification 12.4 - - 3. Adjustment Installment -7.4 5.8 -178.38 4. Total Revenue 1,178.1 1,327.5 12.68 20
  21. 21. BUDGET CONTEXT 2006
  22. 22. EVOLUTION OF THE TRANSMISSION BASIC NETWORK (in Km) Present Model Previous Model Previous Model Laws # 9.648/98 and 10.848/04 90,000 88,471 87,500 86,187 85,000 Average rate 0.8% pa Average rate 0.8% pa Average rate 3.8% pa Average rate 3.8% pa 82,012 82,500 80,022 80,000 77,642 77,500 75,000 72,506 Average Rate Average Rate 72,500 3.4% pa 3.4% pa 70,033 (foreseen) (foreseen) 70,000 69,034 67,048 67,500 65,000 63,971 63,110 62,486 62,500 61,571 60,000 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2005 2006 2007 22
  23. 23. TRANSMISSION PLANNING SYSTEM EXPANSION SECTORIAL PLANS TRANSMISSÃO PAULISTA CCPE ONS ASSET PDET PAR - PAM MANAGEMENT (5 / 10 years) (3 years) TRANSMISSÃO IMPROVEMENTS PAULISTA CONSOLIDATED PLANS REINFORCEMENTS MULTI-YEAR BUDGET M.M.E. / ANEEL / ONS 2005 - 2008 EXPANSION NEW BIDDINGS PAR - Enlargement and Reinforcement Plan PAM - Adequacy and Improvement Plan CCPE - Electric System Expansion Planning Coordination Committee PDET - Transmission Expansion Determinating Plan 23
  24. 24. ANEEL CAPITAL MODEL (1) Assumption: each project should be financed by 60% of debt and 40% of equity the model assumes the fair return on equity is 10.99% pa for transmission business ANEEL considers the cost of capital as follows: Ke = 10.99% pa Kd = 10.12% pa Consequence: WACC = (40% x 10.99%) + (60% x (1 – T) x 10.12%) WACC = 8.40% pa Considering the capex, the other expenses connected to the project and using the capital model above, ANEEL defines the permitted annual revenue (RAP) for the project (1) Currently used by ANEEL although not formally approved e.g. ANEEL Vote Report # 48500.003924/05-03 24
  25. 25. ANEEL CAPITAL MODEL Additional issues The model is applied for auctions and expansion projects authorized by ANEEL for a concessionary Investment referring to equipment substitution in a concessionary may be only partially considered by ANEEL for revenue purposes According to Resolution ANEEL # 158/05, certain reinforcement projects will not be previously authorized, though they may be considered for annual revenues purposes at the moment of the revision of revenues to occur every 4 years 25
  26. 26. INVESTMENT BUDGET FOR 2006 (*) R$ millions 1. Improvements 78.0 System modernization 2. Reinforcements (possible additional revenues) 56.0 ANEEL Resolution # 158/05 3. Reinforcements (defined additional revenues) 460.0 Specific ANEEL Resolutions published 4. Corporate Investments 1.3 TOTAL 595.3 (*) Approved by the Board of Directors on 12/05/2005 26
  27. 27. ANEEL RESOLUTION # 158/2005 MAY 23, 2005 SCOPE IT ESTABLISHES DEFINITIONS FOR REINFORCEMENTS AND IMPROVEMENTS TO BE APPLIED IN ANNUAL PROPOSALS FOR THE TRANSMISSION SYSTEM EXPANSION, AS WELL AS RULES AS TO THE NEED OF ANEEL’s PREVIOUS AUTHORIZATION AND BEGINNING OF RECEIPT OF THE PERMITTED ANNUAL REVENUE 27
  28. 28. ANEEL RESOLUTION # 158/2005 " THE RESOLUTION ESTABLISHES THAT SOME REINFORCEMENTS AND IMPROVEMENTS SHALL BE IMPLEMENTED BY TRANSMISSION COMPANIES AND THE INVESTMENTS CONSIDERED FOR REVENUE PURPOSES IN THE SUBSEQUENT PERIODICAL REVIEW OF REVENUES 28
  29. 29. PERFORMANCE EVOLUTION 2001 - 2005
  30. 30. OPERATING EXPENSES / NET OPERATING REVENUES % 90.0 83.2 75.3 62.2 62.0 Dec/01 Dec/02 Dec/03 Dec/04 Sep/05 30
  31. 31. PERSONNEL / NET REVENUES % 40.7 37.6 36.7 28.9 28.2 Dec/01 Dec/02 Dec/03 Dec/04 Sep/05 31
  32. 32. EBITDA / NET REVENUES % 52.8 52.3 43.7 39.1 37.1 Dec/01 Dec/02 Dec/03 Dec/04 Sep/05 32
  33. 33. OPERATING PROFIT / NET REVENUES % 38.0 37.8 24.7 16.8 12.7 Dec/01 Dec/02 Dec/03 Dec/04 Sep/05 33
  34. 34. NET PROFIT / NET REVENUES % 37.7 31.8 24.7 16.8 12.7 Dec/01 Dec/02 Dec/03 Dec/04 Sep/05 34
  35. 35. NET PROFIT / EQUITY % 11.5 8.5 6.5 5.0 3.0 Dec/01 Dec/02 Dec/03 Dec/04 Sep/05 (ANNUALIZED) 35
  36. 36. MARKET VALUE 12/28/01 to 12/02/05 540 TRPL3 459.2 % 500 Índice 100 em 28/12/2001 460 420 380 TRPL4 280.0 % 340 300 260 IBOVESPA 141.8 % 220 IEE 120.3 % 180 140 100 60 20 Dec/01 Apr/02 Ago/02 Dec/02 Apr/03 Ago/03 Dec/03 Apr/04 Ago/04 Dec/04 Apr/05 Ago/05 Dec/05 TRPL3 (OS) TRPL4 (PS) IBOVESPA IEE 36
  37. 37. MARKET VALUE R$ per thousand shares 28.80 24.70 TRPL3 (OS) TRPL4 (PS) 14.60 13.85 11.40 12.10 6.50 5.15 5.45 5.61 2001 2002 2003 2004 2005 (12/02) 37
  38. 38. PRIVATIZATION
  39. 39. PRIVATIZATION RELEVANT NOTICE - February 03, 2005 Project of Law on CTEEP privatization sent to the State Legislature RELEVANT NOTICE - May 19, 2005 State Legislature approves the privatization project of law NOTICE TO THE MARKET - May 24, 2005 Governor promulgates the privatization law of CTEEP RELEVANT NOTICE - July 12, 2005 PED determines CESP to perform the activities necessary to the privatization of CTEEP RELEVANT NOTICE - October 14, 2005 CESP contracts advisors for the privatization process of CTEEP 39
  40. 40. PRIVATIZATION NOTICE TO THE MARKET – December 2, 2005 São Paulo State Government publishes notice about CTEEP Privatization Public Meeting to be held on 12/21/2005 NOTICE TO THE MARKET – December 5, 2005 São Paulo State Government announces the opening of CTEEP Data Room 40
  41. 41. PRIVATIZATION As a result of the procedures referred to in the notices published on the subject, the valuation services of the Company and the sale model are being developed, conducted by the consortiums contracted by CESP for such a purpose According to the tentative schedule of the process prepared by the advisers, the sale auction of CTEEP’s share control is foreseen for February 8, 2006 According to the legislation in effect, the definition of minimum price and other sale conditions shall be opportunely approved by the Directive Council of the State Privatization Program - PED, that shall also establish a date for the holding of the sale auction Every future relevant information on the CTEEP’s privatization process shall be opportunely given to the market by the Company 41
  42. 42. www.cteep.com.br www.transmissaopaulista.com.br INVESTORS RELATION ri@cteep.com.br 42
  43. 43. TRANSMISSÃO PAULISTA Company Presentation Latin Energy Conference 2005 December 8, 2005

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