The economic and financial management of ONS in the year of 2014 has continued the improvement of budgetary control, seeking the optimization of financial resources from the charges for use of transmission and contribution of its members.

The financial statements were prepared and are presented in accordance with accounting practices adopted in Brazil, which comprise the pronouncements of the Accounting Pronouncements Committee (CPC) and in accordance with the instructions contained in ONS Accounting Manual, established by ANEEL.

 

Exercise Budget

ONS budget, approved by ANEEL Authorizing Resolution No. 4206 of June 25, 2013, for the period from July 2013 to June 2014 was R $ 507.302 million, of which R $ 258,727,000 provided for half year ended December 31, 2013 and R $ 248.575 million planned for six months ended June 30, 2014.

The budget for the period July 2014 to June 2015, approved by Authorizing Resolution No. 4731 of June 24, 2014, from ANEEL, was R $ 527.748 million, consisting of R $ 244,298 thousand for the six months ended on December 31, 2014 and R $ 283,450 thousand for the six months ending on June 30, 2015.

Thus, the budget for the period January-December 2014 amounted R $ 492.873 million.

 

ONS Funding Sources

Under Article 34 the sole paragraph of the Bylaws, as amended by ANEEL Resolution No. 1,888, of April 22, 2009, are sources of ONS resources:

1. Contributions from its associate members, proportional to the number of votes in the General Assembly, included in Parcel "A" for purposes of tariff transfer and collected by other associates and power agents that are not subject to tariff transfer.
2. Funds from the budget developed by ONS and approved by ANEEL:

1. Transferred by members and agents of the electricity sector connected to the Basic Network, whose values are included in the Transmission System Usage Tariff (TUST) and in the Parcel "A" of Tariffs of the Electricity Service;
2. Collected by other associates and agents of the electricity sector are not subject to tariff transfer;
3. Other revenues authorized by ANEEL.

For viability of its budget, ONS used the resources of charges for use of transmission and contribution of collected associates, having billed R $ 470,000 thousand and R $ 15.5 million, respectively, during the year 2014.

 

Demonstration of Results

In the composition of the results in the year of 2014, a reduction in the resulting surplus from lower investment levels achieved by ONS in 2014 stands out. As a direct consequence of the lower level of investment, there was a significant reduction in the current amount of Imposto de Renda (IRPJ) - Income Tax - and Contribuição Social sobre o Lucro Líquido (CSLL) - Social Contribution on Net Income.