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UBS Latam/EMEA ConferenceNew York
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CPFL Energia and Brazilian Electricity Sector
Summary
CPFL Energia – Performance 3 Years Since IPO
CPFL Energia – 3Q07 Highlights and Results
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Since 1997, CPFL Energia has developed an aggressive strategy of growth in the distribution, generation and commercialization
1998 2002 2004 200620001997 2001 2005 20072003
IPO
CPFLJaguariúna1
1) Base: set/07 1) Old company name: CMS Energy Brasil2) Old company name: Cia. Luz e Força Santa Cruz
Recent Acquisitions:
• CPFL Jaguariúna1 in Apr/07
• CPFL Santa Cruz2 in Oct/06
• 11% of CEEE stake in HPP Foz do Chapecó in Aug/06
• 32.69% of PSEG stake in RGE in May/06
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CPFL Energia – Distribution Business
Concession area: 8 distributors in São Paulo, Rio Grande do Sul, Paraná and Minas Gerais States
Leadership in the distribution business: 13,8% of market share1
Presence in the regions with high growth market rate
73% EBITDA’s and 74% Net Income’s contribution to CPFL Energia’s results2
1) Base: set/07 1) Source ANEEL (Sep/07). Considers Brazilian market share2) Ref.: 3Q07
23%
49%
13%
6%
9%
Residential Industrial Commercial Rural Other
Concession Area Sales by Segment – 3Q07 (GWh¹)
Employees 6.620
Clients (million) 6,22
Population (million) 18,50
Concession Area (km2) 208.300
Municipalities 568
Concession Area
Key Indicators – 3Q0710% 9%
39%
16%
26%Metallurgy and
Non-Metallic Minerals
Others
Chemical Food and Beverage
Rubber andPlastic
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Spreading proposes consolidation opportunities
Distributors (#) 64
2006
59.1
347.4
Clients (million)
Distributed Energy (TWh)
Distribution Business:
Brazilian market has 64 distribution’s companies
Market Breakdown
The 5 largest groups have 50% of market-share
State-owned companies: 34%
Private Company: 66%
1) 1Q07Source: Aneel – Installed capacity: PDEE 2007-2016 Market breakdown: Acende Brasil
Distribution Market Share1 %
COPEL 6.7%
CELESC 4.8%
EdB 5.7%
ENDESA 4.2%
Ashmore Energy3.7%
Others 33,1%
CPFL Energia 13.8%
Brasiliana Energia 12.1%
CEMIG Companhia Energética 8.6%
Neoenergia7.3%
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Under Construction
CPFL Energia – Generation Business
1) Considers 6.93% stake in HPP Lajeado
5 HPPs1 and 31 SPPs
1,587 MW
797 MWmedium
Installed Capacity
Assured Energy
Operating
3 HPPs
587 MW
285 MWmedium
Power Plants
EBITDA Margin around 90%
16% EBITDA’s and 14% Net Income’s contribution to CPFL Energia’s results1
7
143
801 812 812 854 9151.072
1.5881.737 1.737
2.174
440 440 434 472 525 571801 861 861
1.082
822000 2001 2002 2003 2004 2005 2006 2007(e) 2008(e) 2009(e) 2010(e)
Installed Capacity (MW)
Assured Capacity (MWmedium)
CPFL Energia’s generation capacity have been increasing since 2000, reaching 2.2 thousand MW until 2010
Barra Grande Campos Novos Castro Alves 14 de Julho Foz do ChapecóMonte Claro
CPFL’s stake (%)
CPFL’s capacity (MW)
Status 3Q10Operating
3Q08Operating
1Q08OperatingOperatingOperatingOperating
436.165.084.5428.8172.584.5
51.0065.0065.0048.7225.0165.00
Installed Capacity and Assured Energy Evolution
48%
40%
25%
26%
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Generation Companies (#) 1,660
2006
104,822Installed Capacity(MW)
Generation Business:
Brazilian market has 1,600 generation companies. The public sector concentrates 72% of the assets
Market Breakdown
The 5 largest groups have 50% of the market
State-owned companies: 72%
Private Company: 28%
Source: Aneel – Installed capacity: PDEE 2007-2016Market breakdown: Acende Brasil
Generation Market Share %
Others 35%
Chesf 10%
Furnas 9%
Eletronorte 9%
CESP 7%Itaipu 7%
Cemig 6%
Tractebel 6%
Copel 4%
AES Tietê 3%
Duke 2%
CPFL Energia 2%
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Growth in the free market
Commercial Expertise:Competitive performance in the free market and value added services – VAS
CPFL Energia - Commercialization
Leadership in the commercialization business: 23% of market share1
11% EBITDA’s and 12% Net Income’s contribution to CPFL Energia’s results1
1) Ref.: 3Q07 - CPFL Brasil Consolidated
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91
144
74
9
2003 3Q07Outside Concession Area Group's Distribution Company
600%
10
Sales Evolution - TWh
Captive and Free Market’s Sales Evolution in Brazil
75%76%79%88%99% 96%
25%24%
21%12%4%1%
2002 2003 2004 2005 2006 2007
ACR - Free Contracting Ambience ACL - Regulated Contracting Ambience
Source: EPE – Information until Apr, 2007
24.325.6
28.026.7
28.9
30.5
Currently, free market is responsible for 25% of Brazilian’s energy consumption
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CPFL Energia – 3Q07 Highlights and Results
Summary
CPFL Energia – Performance 3 Years Since IPO
CPFL Energia and Brazilian Electricity Sector
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CPFL Energia issues R$ 450 million in Debentures
Extension of term from acquisition of CMS Energy BrasilObjective
Half-yearlyYield Payment
CDI + 0.45% per yearCost
Equal three payments in Sep/2012, Sep/2013 and Sep/2014Term
September 3rd, 2007Issuing Date
R$ 450 millionOffering Total Value
Issue Characteristics
Issuer Rating brAA-
Issuer Rating brA+
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CPFL Energia – Performance 3 Years Since IPO
Summary
CPFL Energia and Brazilian Electricity Sector
CPFL Energia – 3Q07 Highlights and Results
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Investor RelationsPhone.: 55 19 3756 6083E-mail: [email protected]: www.cpfl.com.br/ri