Type Sociedade Anônima Revenue 6.1 billion USD (2013) Parent organization Aes Trust | Industry Electricity Net income 1.3 billion USD (2013) | |
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Traded as BM&F Bovespa: CMIG3, CMIG4
NYSE: CIG
BMAD: XCMIG Key people Bernardo Afonso Salomão de Alvarenga, (CEO) Products Electrical power
natural gas Services Electricity distribution
Electricity transmission
telecomunications Stock price CMIG4 (BVMF) R$ 11.21 +0.53 (+4.96%)3 Mar, 6:07 PM GMT-3 - Disclaimer Headquarters Belo Horizonte, Minas Gerais, Brazil Founded 1952, Belo Horizonte, Minas Gerais, Brazil Subsidiaries Light S.A., Praia De Parajuru S.a., UTE Barreiro SA | ||
CEMIG is a Brazilian power company headquartered in Belo Horizonte capital of the state of Minas Gerais. The company is one of the largest power generators and distributors in Brazil being responsible for 12% of the national distribution.
CEMIG is present in 22 Brazilian States and in Chile. With around 50 power plants in operation, most of them hydroelectric, the company owns around 6,000 MW of generation capacity. Cemig also owns a cable television, internet and telecommunications business called Infovias which uses the company's transmission and distribution lines. Also, a business called Gasmig supplies natural gas in Minas Gerais. Just over half of Cemig's stock is owned by the state of Minas Gerais.
The company is responsible for serving about 18 million people in 774 municipalities of Minas Gerais and for the management of the largest network of electricity distribution in South America, with more than 400 thousand km of lines.
The stock is traded on BM&F Bovespa where it is part of the Ibovespa index. It is also traded on the New York Stock Exchange and Latibex an index for Latin companies in Madrid Stock Exchange.
The company is being included in the new Global Dow (Dow Jones index that has 150 companies meant to track worldwide stock performance).
The company owns 43% of TAESA, a Brazilian Electric Company.