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COSERN is an electrical energy distributor company, acting in the State of Rio Grande do Norte, serving 167 municipalities. Its concession area comprises 52,797 Km², corresponding to 100% of the State’s territory, granted by Decree of December 30, 1997 and regulated by the Distribution Concession Agreement no. 08, entered on December 31, 1997 and effective until December 31, 2027.
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COSERN was founded on December 14, 1961. On December 12, 1997, the company was privatized, upon the auction held at the Stocks Exchange of Rio de Janeiro, when the consortium made by Coelba, Neoenergia (formerly named Guaraniana) and UPTICK Participações purchased 77.92%. Nowadays, COSERN has the following shareholders: Neoenergia S.A. (84.45%); Iberener (7.01%); Uptick Participações S.A.(5.82%); Previ (1.54%).
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In March 2010, COSERN received the investment grade in global scale from the credit-rating agency Standard &Poor’s, with rating BBB– on the Global Scale and brAAA on the Brazilian Scale. Such distinction by Standard &Poor’s is given to the Group due to its history of improvement to the financial and operational management, to the market growth in its concession area and to its proper investment strategy. The investment grade represents lower catchment costs, which consolidates its growth potential.
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As provided for in the COSERN Concession Agreement, ANEEL, through the Homologating Resolution no. 1,139, of April 19, 2011, published in the federal official gazette of April 20, 2011, fixed the average rate of tax adjustment to the Company on 12.40%, being 7.32% related to the annual tax adjustment and 5.08%, to the financial components. The total average effect to be perceived by captive consumers is of 9.86%, being 9.70% for the low voltage customers (residencies and others) and 10.27% for the high voltage ones (industries and medium and large-sized commerce), effective until April 21, 2012.
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Visit the website: www.cosern.com.br
