Thanks to this new market. Also digital transformation, same thing. And for the next few years, especially 2025, the floating generation sources and renewals of generation concessions, this is something that we are following up and — closely, that we can renew [indiscernible] for more 30 years. Once again, we are following up this process so that we can exercise our right to extend the concession for these plants. So thank you very much for the opportunity, bringing to you these results and we’ll be now open to answer any questions you might have about the company’s strategy and its results.
A – Carolina Senna: We will now start the Q&A session. Please ask all your questions at once and hold for the company’s reply. To ask a question, please we would like you to send them via the Q&A icon on the bottom of your screen — your screen and your names will be announced so that you can ask the question live. Then a request to activate your microphone will pop up on your screen. If you should not want to ask your question live, please let us know and then the operator will read your question out loud. Our first question is from (ph) Antonio Alex de Morai, Arauz. Please, Marco Soligo, The question is about Cemig and Taesa. How is the divestment process? Will it be concluded by June of 2024? Thank you.
Marco da Camino Ancona Lopez Soligo: Hello, Antonio, thank you very much for your question. We do not have a perspective of sale of our Taesa. It’s taking the short term. So the perspective is no. We do not believe it will be sold by June of 2024. That’s it, Carolina.
Carolina Senna: Thank you, Marco. Our next question is from Carolina Carneiro, sell-side analyst from Safra. He has two questions. First is for Dimas. Please, Dimas, just asking that Cemig had a relevant result in its trading company. Can you comment how is the PPA and environment in the free market in terms of prices and terms. The platform has pointed to upward trend after the records of temperature in October. Can you comment on that, please?
Dimas Costa: Can you hear me. Can you see me.
Carolina Senna: Yeah, I can see you and I can hear you.
Dimas Costa: I apologize, I had a technical problem but it looks like it’s a question from Carolina. Good afternoon, Carolina. Thank you for your participation. Can you please repeat the question? I did have a problem with my audio. Could not hear it.
Carolina Senna: Okay, I will read it again. Ms. Carolina Carneiro is asking the following. Cemig had a relevant result in its trading company. Can you comment how is the environment and PPAs in the free market in terms of prices and terms?
Dimas Costa: Well, PPA, with this drop that we had since the beginning of the year, there was a drop in the energy price and we had here a line of clients, and this is a case of a high production. We had a number of clients that were looking for self-production with Cemig and they themselves, because of the very low price that we have for the next few years. And we can understand that they just gave up. And that also turned PPAs unfeasible, because it makes no sense a client or a trading to have a PPA with such a low price. So we expect that by 2024, you know, the self-production, we still do not believe it, because the low price should be there for a while. We believe that with the reduction in the price of the photovoltaic equipment, and maybe with better prices, we expected to turn feasible some self-productions.
And I am sure that over 2024, we might have signed contracts, but not PPA. We had to hold back all our investments, and we no longer have the actions that we used to have buying energy, because this is not feasible right now. It’s not final, but we will have to wait the PPA issue to be solved. And is there a second question? Did you divide the question?
Carolina Senna: No, she was talking about the CG. It was the same question because — The CG — because of the high temperatures in October, it brought the curve up, but the question was the same one.
Dimas Costa: Well, I can talk a little bit about that, because there’s a feeling in the market that the price will go up because of the high temperatures. But high temperatures and those higher prices that we had for a while, it was because of a number of adverse situations that will not happen again. We — Adera was not generating. We had restrictions in the Northeast. Angra 1 is stopped and then Angra 2 stopped. And the hydraulic reserve and the plants, those were not enough to meet that variation, especially in the peak hour that — at the end of the photovoltaic generation and the beginning of the other end with lighting and everything like 2 PM, 3 PM or air conditioning and high temperature, then we felt the need of having thermal dispatches.
That’s why PLD went up for two, three, four hours in a few to — higher temperature days. And it had 10% to 15% of increase in our PLD or our spot price. So we believe that, you know, we know that we might have higher temperatures in November and December, but with all of these factors and adverse factors, they are not as significant now in November and December. So we do believe that we might have a higher spot price in two to three hours sometime. But nothing that will affect that much to say that the market price, the spot price was so much higher then it’s going to affect the short, medium or the long runs.
Carolina Senna: Thank you very much. Dimas. Our next question is from Guilherme Lima, sell-side analyst from Santander. And for Marco Soligo, Marco, please. The question is, about divestments, have already made a decision about Gasmig sale. Would you sell the stake or you could detach assets?
Marco da Camino Ancona Lopez Soligo: Guilherme, good afternoon. Thank you for your questions. About Gasmig, the process of (ph) de-stratezation from Cemig is more important. So this is not a decision that is on Gasmig’s hands. So we are on hold for the process. What is the other question?
Carolina Senna: The — what can you expect from this alliance to sell the stake or the asset?
Marco da Camino Ancona Lopez Soligo: Well, about this alliance, we are working to have a total sale of our stake. That is to sell all the assets.
Carolina Senna: Thank you, Marco Soligo. Next question also from Guilherme Lima, and I’m going to ask to Leonardo to comment on it. Leonardo, he’s talking about our CapEx and the guidance for 2023 and he asked us to give us more color on GT and gas for 2024 and how other segments will be.
