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pertained to the controlling group Companhia Energtica de Minas Gerais CEMIG, Luce Empreendimentos e Participaes S.A. and Rio Minas Energia Participaes S.A (RME) company controlled by Redentor Energia S.A. Below, a summary of related-party transactions occurred in 2012 and 2011:
CONSOLIDATED Groups Balance Sheet Supplier Contracts with the same group (Agreement objectives and characteristics) Strategic agreement Purchase agreement of electric power between Light SESA and CEMIG Strategic agreement Purchase agreement of electric power between Light SESA and CEMIG Strategic agreement Sale agreement of electric power between Light SESA and CEMIG Strategic agreement Collection of distribution system usage charges between Light SESA and CEMIG Strategic agreement Commitment to the basic electric network usage charges between Light SESA and CEMIG Strategic agreement Commitment to the basic electric network usage charges between Light Energia and CEMIG Strategic agreement Sale agreement of electric power between Lighter and Light Energia Strategic agreement Sale agreement of electric power between Lighter and CEMIG Relationship with Light S.A. CEMIG (Party of the controlling group) CEMIG (Party of the controlling group) CEMIG (Party of the controlling group) CEMIG (Party of the controlling group) CEMIG (Participa do Grupo Controlador) CEMIG (Party of the controlling group) Lightger (Jointly-owned subsidiary) CEMIG (Party of the controlling group) ASSET 31/12/2012 31/12/2011 LIABILITY 31/12/2012 8,906 31/12/2011 9,091 REVENUE 31/12/2012 31/12/2011 EXPENDUTURE 31/12/2012 53,026 31/12/2011 72,467
Supplier
259
178
2,055
1,333
Supplier
2,495
2,278
15,696
20,516
Supplier
163
213
2,032
2,494
Supplier
1,614
1,701
11,242
14,668
Supplier
12
11
109
127
Supplier
1,082
11,019
Supplier
1,374
10,586
Other Receivables/ Strategic agreement Other Payables Loan agreement with Light S.A., which holds 51% in Lightger, in order to honor financial commitments related to the implementation of the Pacambi small hydroelectric power plant (PCH) Post-employment Pension Plan Benefit Fundao de Seguridade Social (Social Security Foundation) - BRASLIGHT
11,606
3,183
BRASLIGHT
1,370,738
1,171,209
120,069
174,869
Contracts with the same group (Agreement objectives and characteristics) Strategic agreement Purchase agreement of electric power between Light SESA and CEMIG Strategic agreement Purchase agreement of electric power between Light SESA and CEMIG Strategic agreement Sale agreement of electric power between Light Energia and CEMIG Strategic agreement Collection of distribution system usage charges between Light SESA and CEMIG Strategic agreement Commitment to the basic electric network usage charges between Light SESA and CEMIG Strategic agreement Commitment to the basic electric network usage charges between Light Energia and CEMIG Strategic agreement Sale agreement of electric power between Lighter and Light Energia Strategic agreement Sale agreement of electric power between Lighter and CEMIG Strategic agreement Loan agreement with Light S.A., which holds a 51% interest in Lightger, in order to honor financial commitments related to the implementation of the Pacambi small hydroelectric power plant (PCH) Pension Plan Fundao de Seguridade Social (Social Security Foundation) - BRASLIGHT
Relationship with Light S.A. CEMIG (party of the controlling group) CEMIG (party of the controlling group) CEMIG (party of the controlling group) CEMIG (party of the controlling group) CEMIG (party of the controlling group) CEMIG (party of the controlling group) Lightger (jointly-owned subsidiary) CEMIG (party of the controlling group) Lightger (jointly-owned subsidiary)
Date
Conditions for termination or expiration 30% of remaining balance 30% of remaining balance
Agreement conditions Price established in the regulated market Price established in the regulated market
Jan / 2006
Dec / 2038
Supplier
37,600
Jan / 2010
Dec / 2039
40,402
Supplier
156,239
Jan / 2005
Dec / 2013
N/A
35,339
Supplier
Nov / 2003
Undetermined
N/A
163
Supplier
Dec / 2002
Undetermined
N/A
1,614
Supplier
Dec / 2002
Undetermined
N/A
12
Supplier
217,213
Dec / 2010
Jun / 2028
N/A
206,194
Supplier
208,818
Dec / 2010
Jun / 2028
N/A
198,232
35,586
Jan/11 to Sep/11
Sep / 2012
N/A
Post-employment Benefits
BRASLIGHT
535,052
Jun / 2001
Jun / 2026
N/A
1,370,738
IPCA+ 6% p.a
The subsidiary Light Energia has a purchase contract of 400 MW of installed power capacity from the portfolio projects of its jointly-controlled subsidiary Renova Energia S.A., and 200 MW will be made available as of 2015 and 200 MW as of 2016. The jointly-controlled subsidiary Renova Energia S.A. contracted Light ESCO to intermediate energy commercialization operations. Its commission amounted to R$7,500. Related-party transactions have been executed in accordance with the agreements between the parties.
MANAGEMENT REMUNERATION Policy regarding remuneration of the Board of Directors, Executive Board, Fiscal Council and board committees. Pro-rata share of each component to the aggregate remuneration for 2012:
Remuneration Policy of Board of Directors, Board of Executive Officers, Fiscal Council and Committees Board of Directors Fixed remuneration: Board of Executive Officers Fixed remuneration: Variable remuneration: Other: Fiscal Council Fixed remuneration:
Annual remuneration paid by the Company to the Board of Directors, Executive Board, and Fiscal Council in 2012:
Board of Directors 21.25 1,514 1,262 252 1,514 Board of Executive Offcers 8.33 665 554 111 665 9,214 5,327 1,018 2,869 3,976 3,976 976 14,166
2012 Number of members (*) Fixed remuneration in the year Salary or pro-labore Direct and indirect benefits Other
(1)
Fiscal Council 10
Total 39.58 11,393 7,143 1,018 3,232 3,976 3,976 976 16,345
Variable remuneration in the period Bonus Severance pay Total remuneration per body
()
Average annual remuneration due to the Board of Directors, Executive Board, and Fiscal Council in 2012:
Board of Directors 21.25 104 52 59 Board of Executive Offcers 8.33 83 41 55 2,356 886 1,356
2012 Number of members (*) Highest individual compensation Lowest individual compensation Average individual compensation
Fiscal Council 10
*number of members calculated through the years weighted average Overall management remuneration on a consolidated basis for the fiscal year ended December 31st, 2012 amounts to R$17,660. The jointly-controlled subsidiary Renova Energia has a stock option plan whereby 2,805,558 shares had already been granted and paid in Renova Energias capital stock on December 31st, 2012, at the proportion of one common share and two preferred shares (unit), at R$0.34 per unit, by Renova Energias managers. Renova also has 187,500 shares, at the proportion of one common share and two preferred shares, granted and awaiting the vesting period. There are also 2,707,794 shares that have not been granted and paid in in Renova Energias capital stock, at the proportion of one common share and two preferred shares. In 2012, 600,621 shares were exercised and paid in.