SECURITIES AND EXCHANGE COMMISSION FORM 6-K Report of Foreign Private Issuer Pursuant to Rule 13a-16 or 15d-16 of the Securities Exchange Act of 1934 For the month of June, 2023 Commission File Number 1-14668 COMPANHIA PARANAENSE DE ENERGIA (Exact name of registrant as specified in its charter) Energy Company of Paraná (Translation of Registrant's name into English) José Izidoro Biazetto, 158 81200-240 Curitiba, Paraná Federative Republic of Brazil +55 (41) 3331-4011 (Address of principal executive offices) ...

Financial Statements Presents the company's financial position, performance, and cash flows for Q1 2023, highlighting asset growth, stable revenue, and decreased net income [Statements of Financial Position](index=4&type=section&id=Statements%20of%20Financial%20Position) Total assets grew to **BRL 53.1 billion** driven by PPE and intangibles, with liabilities increasing to **BRL 31.3 billion** and equity to **BRL 21.8 billion** Consolidated Statement of Financial Position (in thousands of BRL) | Category | 03.31.2023 | 12.31.2022 | | :--- | :--- | :--- | | **Total Current Assets** | 9,962,522 | 9,327,249 | | **Total Noncurrent Assets** | 43,101,941 | 40,376,451 | | **Total Assets** | **53,064,463** | **49,703,700** | | **Total Current Liabilities** | 7,362,533 | 7,156,597 | | **Total Noncurrent Liabilities** | 23,935,401 | 21,415,878 | | **Total Liabilities** | **31,297,934** | **28,572,475** | | **Total Equity** | **21,766,529** | **21,131,225** | | **Total Liabilities & Equity** | **53,064,463** | **49,703,700** | [Statements of Income](index=6&type=section&id=Statements%20of%20Income) Net operating revenue remained stable at **BRL 5.53 billion**, but net income decreased to **BRL 635.5 million** due to higher financial expenses Consolidated Statement of Income (in thousands of BRL) | Metric | 03.31.2023 | 03.31.2022 | | :--- | :--- | :--- | | **Net Operating Revenue** | 5,530,666 | 5,587,749 | | **Gross Operating Profit** | 1,428,064 | 1,408,945 | | **Profit Before Financial Results and Taxes** | 1,214,240 | 1,170,480 | | **Operating Profit** | 881,101 | 957,253 | | **Net Income** | 635,490 | 669,791 | [Statements of Comprehensive Income](index=7&type=section&id=Statements%20of%20Comprehensive%20Income) Total comprehensive income of **BRL 635.3 million** closely mirrored net income, with minimal impact from other comprehensive items Comprehensive Income Summary (in thousands of BRL) | Metric | 03.31.2023 | 03.31.2022 | | :--- | :--- | :--- | | Net Income | 635,490 | 669,791 | | Total other comprehensive income, net of taxes | (186) | - | | **Total Comprehensive Income** | **635,304** | **669,791** | [Statements of Changes in Equity](index=8&type=section&id=Statements%20of%20Changes%20in%20Equity) Total equity increased to **BRL 21.77 billion** by March 31, 2023, primarily driven by **BRL 635.5 million** in net income - Equity grew by **BRL 635.3 million** in Q1 2023, mainly attributed to the net income for the period[16](index=16&type=chunk) [Statements of Cash Flows](index=9&type=section&id=Statements%20of%20Cash%20Flows) Operating cash flow decreased to **BRL 540.2 million**, while investing activities used **BRL 1.51 billion** due to acquisitions, resulting in a **BRL 232.8 million** cash increase Consolidated Statement of Cash Flows Summary (in thousands of BRL) | Category | 03.31.2023 | 03.31.2022 | | :--- | :--- | :--- | | **Net Cash from Operating Activities** | 540,190 | 1,183,483 | | **Net Cash Used in Investing Activities** | (1,513,715) | (534,121) | | **Net Cash Generated (Used) in Financing Activities** | 1,206,342 | (151,233) | | **Change in Cash and Cash Equivalents** | 232,817 | 498,129 | - A significant cash outflow of **BRL 912.1 million** was used for the acquisition of subsidiaries, marking a major investment activity during the quarter[20](index=20&type=chunk) - The company raised **BRL 1.3 billion** through a new debenture issuance, which was the primary source of financing cash flow[20](index=20&type=chunk) Notes to the Interim Financial Information Provides detailed explanations of Copel's operations, accounting policies, asset and liability movements, debt, risks, and related party transactions [1. Operations](index=11&type=section&id=1.%20Operations) Copel, controlled by the State of Paraná, operates in electricity and acquired **BRL 1.005 billion** in wind complexes, pursuing corporate transformation - The State of Paraná has authorized the transformation of Copel into a company with dispersed capital and no controlling shareholder, a strategic move intended to enable the full renewal of concessions for three major hydroelectric power plants[25](index=25&type=chunk) - On January 30, 2023, Copel GeT completed the acquisition of **100%** of the Aventura and Santa Rosa & Mundo Novo Wind Complexes from EDP Renováveis Brasil S.A. for **BRL 1,005.2 million**[33](index=33&type=chunk) Summary of Wind Complex Acquisition (in thousands of BRL) | Complex | Net Assets Acquired (Fair Value) | Technical Goodwill | Consideration Amount | | :--- | :--- | :--- | :--- | | Aventura & Santa Rosa | 800,497 | 204,676 | 1,005,173 | [2. Concessions and Authorizations](index=16&type=section&id=2.%20Concessions%20and%20Authorizations) Details Copel's extensive concessions across segments, including the **BRL 508 million** Compagas gas distribution extension to 2054 - The Compagas gas distribution service concession was extended to July 6, 2054, upon payment of a **BRL 508 million** grant bonus in December 2022[45](index=45&type=chunk)[46](index=46&type=chunk) - The notes detail numerous generation and transmission concessions, with maturities extending from the near term (e.g., 2024) to as far out as 2055, highlighting the long-term nature of the company's core assets[49](index=49&type=chunk)[51](index=51&type=chunk) [3. Basis of Preparation](index=19&type=section&id=3.%20Basis%20of%20Preparation) Interim financials prepared under IAS 34, affirming going concern status based on strong equity and cash generation - The financial statements adhere to **IAS 34 - Interim Financial Reporting**[52](index=52&type=chunk) - Management confirms the company's going concern status based on long-term concessions, strong equity, and robust operating cash generation[57](index=57&type=chunk)[58](index=58&type=chunk) [4. Significant Accounting Policies](index=19&type=section&id=4.%20Significant%20Accounting%20Policies) Accounting policies are consistent with 2022 annual statements, with new standards having no significant impact - Accounting policies are consistent with the 2022 annual financial statements[59](index=59&type=chunk) - New accounting standards effective January 1, 2023, had no significant impact on the financial statements[60](index=60&type=chunk)[65](index=65&type=chunk) [5. Cash and Cash Equivalents](index=20&type=section&id=5.%20Cash%20and%20Cash%20Equivalents) Cash and cash equivalents increased to **BRL 2.91 billion**, with **BRL 2.63 billion** in highly liquid financial investments Cash and Cash Equivalents (in thousands of BRL) | Category | 03.31.2023 | 12.31.2022 | | :--- | :--- | :--- | | Cash and bank accounts | 284,594 | 222,641 | | Financial investments with immediate liquidity | 2,626,680 | 2,455,816 | | **Total** | **2,911,274** | **2,678,457** | [6. Bonds and Securities](index=20&type=section&id=6.%20Bonds%20and%20Securities) Bonds and securities increased to **BRL 501.8 million**, primarily noncurrent assets for long-term financial guarantees Bonds and Securities (in thousands of BRL) | Category | 03.31.2023 | 12.31.2022 | | :--- | :--- | :--- | | Current | 92 | 93 | | Noncurrent | 501,700 | 430,963 | | **Total** | **501,792** | **431,056** | [7. Trade Accounts Receivable](index=21&type=section&id=7.%20Trade%20Accounts%20Receivable) Trade accounts receivable reached **BRL 3.58 billion**, including a **BRL 119.7 million** disputed receivable from CCEE with a full provision Trade Accounts Receivable Summary (in thousands of BRL) | Category | 03.31.2023 | 12.31.2022 | | :--- | :--- | :--- | | Total Receivables | 3,577,994 | 3,451,869 | | Current | 3,460,364 | 3,342,050 | | Noncurrent | 117,630 | 109,819 | - The company has a disputed receivable of **BRL 119.7 million** from the CCEE concerning the HPP Colíder plant's delayed start-up, and while a preliminary injunction favors Copel, the company has prudently recorded an equivalent amount in expected credit losses pending a final court ruling[69](index=69&type=chunk)[71](index=71&type=chunk)[73](index=73&type=chunk) [8. Net Sectorial Financial Assets and Liabilities](index=22&type=section&id=8.%20Net%20Sectorial%20Financial%20Assets%20and%20Liabilities) Net sectorial financial assets shifted to a **BRL 177.1 million** asset from a **BRL 101.9 million** liability, reflecting regulatory adjustments - The net balance of sectorial financial assets and liabilities shifted from a net liability of **BRL 101.9 million** at the start of the year to a net asset of **BRL 177.1 million** at the end of Q1 2023[76](index=76&type=chunk) [9. Accounts Receivables - Concessions](index=23&type=section&id=9.%20Accounts%20Receivables%20-%20Concessions) Concession receivables increased to **BRL 2.41 billion**, mainly from distribution investment indemnification and HPP GPS bonus recovery Accounts Receivable - Concessions (in thousands of BRL) | Category | 03.31.2023 | 12.31.2022 | | :--- | :--- | :--- | | Power distribution service concession | 1,560,022 | 1,442,819 | | Bonus from the grant of concession | 782,005 | 766,832 | | Generation concession agreements | 70,001 | 68,642 | | **Total** | **2,412,028** | **2,278,293** | [10. Contract assets](index=24&type=section&id=10.%20Contract%20assets) Contract assets totaled **BRL 7.78 billion**, primarily from power transmission (**BRL 5.42 billion**) and distribution concessions Contract Assets by Concession (in thousands of BRL) | Concession Type | 03.31.2023 | 12.31.2022 | | :--- | :--- | :--- | | Power distribution service | 2,330,452 | 2,332,171 | | Piped gas distribution service | 30,750 | 30,032 | | Power transmission | 5,417,369 | 5,310,476 | | **Total** | **7,778,571** | **7,672,679** | [11. Other Receivables](index=27&type=section&id=11.%20Other%20Receivables) Other receivables grew to **BRL 2.37 billion**, driven by a **BRL 1.57 billion** fair value of power purchase and sale contracts - The largest component of other receivables is the fair value of power purchase and sale contracts, which increased by nearly **BRL 500 million** during the quarter to **BRL 1.57 billion**[92](index=92&type=chunk) [12. Taxes](index=28&type=section&id=12.%20Taxes) Net deferred tax liability of **BRL 161.8 million** exists, alongside a **BRL 3.31 billion** PIS/Cofins credit and related **BRL 2.05 billion** consumer refund liability - Copel DIS has a tax credit of **BRL 3.31 billion** related to the exclusion of ICMS from the PIS/Cofins tax base, which is being recovered through offsetting with taxes payable[102](index=102&type=chunk)[103](index=103&type=chunk)[106](index=106&type=chunk) - A liability of **BRL 2.05 billion** is recorded to be refunded to consumers related to the PIS/Cofins tax credit recovery, and an additional provision of **BRL 1.88 billion** has also been recognized due to Federal Law No. 14,385, though the company is evaluating legal measures[107](index=107&type=chunk)[109](index=109&type=chunk)[113](index=113&type=chunk) [15. Investments](index=33&type=section&id=15.%20Investments) Equity method investments increased to **BRL 3.44 billion**, mainly in joint ventures, generating **BRL 104.1 million** in equity earnings Changes in Investments (in thousands of BRL) | Category | Balance as of Jan 1, 2023 | Equity in Earnings | Additions | Balance as of Mar 31, 2023 | | :--- | :--- | :--- | :--- | :--- | | Joint Ventures | 3,278,103 | 98,895 | 10,780 | 3,387,868 | | Associates | 47,093 | 5,193 | - | 47,278 | | **Total** | **3,325,731** | **104,088** | **10,780** | **3,435,680** | [16. Property, plant and equipment](index=36&type=section&id=16.%20Property%2C%20plant%20and%20equipment) PPE increased to **BRL 11.19 billion**, primarily due to **BRL 1.19 billion** from wind complex acquisition and a **BRL 35.6 million** impairment reversal Changes in Property, Plant and Equipment (in thousands of BRL) | Description | Amount | | :--- | :--- | | Balance as of January 1, 2023 | 10,069,468 | | Additions | 75,326 | | Depreciation | (143,411) | | Effects of business combination | 1,187,108 | | **Balance as of March 31, 2023** | **11,189,018** | - A partial reversal of impairment totaling **BRL 35.6 million** was recognized for generation segment assets, mainly HPP Colíder, due to a review of expected revenue from energy sales[135](index=135&type=chunk)[136](index=136&type=chunk) [17. Intangible assets](index=38&type=section&id=17.%20Intangible%20assets) Intangible assets grew to **BRL 11.27 billion**, driven by generation concession acquisitions, with distribution and generation as largest components Intangible Assets by Type (in thousands of BRL) | Category | 03.31.2023 | 12.31.2022 | | :--- | :--- | :--- | | Concession - distribution | 7,510,408 | 7,257,827 | | Generation concessions/authorization | 3,009,784 | 2,252,615 | | Concession - piped gas | 713,270 | 726,107 | | Other | 41,255 | 41,178 | | **Total** | **11,274,717** | **10,277,727** | - Generation concession and authorization rights increased by approximately **BRL 757 million**, mainly due to **BRL 615.6 million** in rights and **BRL 204.7 million** in technical goodwill from the wind complex acquisition[145](index=145&type=chunk) [20. Loans and Financing](index=41&type=section&id=20.%20Loans%20and%20Financing) Loans and financing increased to **BRL 5.45 billion**, mainly due to **BRL 875.7 million** from acquired wind complexes, with all covenants met Changes in Loans and Financing (in thousands of BRL) | Description | Amount | | :--- | :--- | | Balance as of January 1, 2023 | 4,650,363 | | Business combination effects | 875,738 | | Charges and variations | 149,229 | | Payments (principal and charges) | (225,288) | | **Balance as of March 31, 2023** | **5,450,042** | - The company's loan agreements contain financial covenants, such as Net Debt/EBITDA and debt service coverage ratios, which were fully met as of the last measurement date[158](index=158&type=chunk)[159](index=159&type=chunk) [21. Debentures](index=45&type=section&id=21.%20Debentures) Debentures increased to **BRL 9.28 billion** due to a **BRL 1.3 billion** issuance for wind complex acquisition, with covenants met Changes in Debentures (in thousands of BRL) | Description | Amount | | :--- | :--- | | Balance as of January 1, 2023 | 7,803,855 | | Funding | 1,300,000 | | (-) Transaction costs | (11,325) | | Charges and monetary variations | 332,388 | | Payments (principal and charges) | (148,257) | | **Balance as of March 31, 2023** | **9,276,661** | - In January 2023, Copel GeT issued **BRL 1.3 billion** in new debentures to finance the acquisition of the Santa Rosa & Mundo Novo and Aventura wind complexes[162](index=162&type=chunk) [22. Post-employment Benefits](index=47&type=section&id=22.%20Post-employment%20Benefits) Post-employment benefit liability totaled **BRL 1.08 billion**, primarily for healthcare plans, with **BRL 66.0 million** expense recognized Post-employment Benefit Liabilities (in thousands of BRL) | Plan Type | 03.31.2023 | 12.31.2022 | | :--- | :--- | :--- | | Pension plans | 685 | 949 | | Healthcare plans | 1,080,573 | 1,069,088 | | **Total** | **1,081,258** | **1,070,037** | [28. Provisions for Legal Claims and Contingent Liabilities](index=52&type=section&id=28.%20Provisions%20for%20Legal%20Claims%20and%20Contingent%20Liabilities) Provisions for probable legal claims totaled **BRL 2.01 billion**, with **BRL 3.78 billion** in contingent liabilities, including a **BRL 1.14 billion** regulatory risk Provisions and Contingent Liabilities (in thousands of BRL) | Category | Provisions (Probable Loss) | Contingent Liabilities (Possible Loss) | | :--- | :--- | :--- | | Tax | 210,577 | 526,492 | | Labor & Employee Benefits | 557,324 | 387,312 | | Regulatory | 6,252 | 1,530,473 | | Civil | 1,239,021 | 1,335,008 | | **Total** | **2,013,174** | **3,779,285** | [29. Equity](index=56&type=section&id=29.%20Equity) Paid-in capital was **BRL 10.8 billion**, with the State of Paraná holding **31.07%**; Class 'B' preferred EPS was **BRL 0.23728** Main Shareholders as of March 31, 2023 | Shareholder | % of Total Shares | | :--- | :--- | | State of Paraná | 31.07% | | BNDESPAR | 23.96% | | Free float (B3, NYSE, Latibex) | 44.16% | | Other shareholders | 0.81% | Earnings Per Share (in BRL) | Share Class | Q1 2023 | Q1 2022 | | :--- | :--- | :--- | | Common shares | 0.21571 | 0.22870 | | Class "A" preferred shares | 0.23728 | 0.25158 | | Class "B" preferred shares | 0.23728 | 0.25158 | [33. Operating Segments](index=63&type=section&id=33.%20Operating%20Segments) Copel operates five segments, with GET and DIS being largest in assets and operating profit, contributing **BRL 591.2 million** and **BRL 180.3 million** respectively Assets by Reportable Segment (in thousands of BRL) | Segment | 03.31.2023 | | :--- | :--- | | Power Generation and Transmission (GET) | 26,656,292 | | Power Distribution (DIS) | 20,881,942 | | Power Sale (COM) | 2,265,570 | | GAS | 1,082,586 | | Holding and Services | 2,241,268 | | **Consolidated Total** | **53,064,463** | Operating Profit by Reportable Segment (in thousands of BRL) | Segment | Q1 2023 | | :--- | :--- | | Power Generation (GER) | 375,074 | | Power Transmission (TRA) | 216,104 | | Power Distribution (DIS) | 180,336 | | Power Sale (COM) | 106,975 | | GAS | 39,403 | | Holding and Services | (36,791) | | **Consolidated Total** | **881,101** | [34. Financial Instruments](index=67&type=section&id=34.%20Financial%20Instruments) Details financial instruments and risk management for credit, liquidity, market, and sector-specific risks like GSF and concession renewals - The company actively manages several financial risks: - **Credit Risk:** Exposure totals **BRL 9.9 billion**, mitigated by investing cash in federal banks and managing customer receivables[239](index=239&type=chunk)[244](index=244&type=chunk) - **Liquidity Risk:** Managed by projecting cash flows and maintaining access to debt markets[251](index=251&type=chunk) - **Market Risk:** Includes exposure to USD fluctuations, variable interest rates (CDI, IPCA, TJLP), and electricity price volatility in the free market[251](index=251&type=chunk) - Sector-specific risks are significant, including: - **Generation Scaling Factor (GSF):** Risk from low hydroelectric generation is managed by not fully contracting assured energy and using insurance for regulated contracts[268](index=268&type=chunk)[276](index=276&type=chunk) - **Concession Renewal:** The company is actively managing the renewal process for key generation and distribution concessions, including a potential corporate transformation to facilitate this[289](index=289&type=chunk) Capital Management - Debt to Equity Ratio | Metric | 03.31.2023 | 12.31.2022 | | :--- | :--- | :--- | | Net Debt (in thousands BRL) | 11,448,547 | 8,869,525 | | Equity (in thousands BRL) | 21,766,529 | 21,131,225 | | **Debt to Equity Ratio** | **0.53** | **0.42** | [35. Related Party Transactions](index=81&type=section&id=35.%20Related%20Party%20Transactions) Engages in transactions with related parties including the State of Paraná and BNDES, involving financing, dividends, and operational agreements - Significant related parties include the State of Paraná (controlling shareholder) and BNDES/BNDESPAR (major shareholder and creditor), with transactions including dividends payable, social programs funded by the state, and financing from BNDES[317](index=317&type=chunk) - Copel provides substantial financial guarantees for its subsidiaries' financing and debentures, as detailed in Notes 20 and 21, and also for certain joint ventures, primarily through pledges of its shares in those ventures[326](index=326&type=chunk)[327](index=327&type=chunk) [39. Condensed individual financial information of Companhia Paranaense de Energia - Copel](index=86&type=section&id=39.%20Condensed%20individual%20financial%20information%20of%20Companhia%20Paranaense%20de%20Energia%20-%20Copel) Parent company financials show **BRL 21.0 billion** in subsidiary investments and **BRL 626.6 million** net income from equity earnings - The parent company's main asset is its investments in subsidiaries, which are accounted for using the equity method and valued at **BRL 21.0 billion**[338](index=338&type=chunk)[349](index=349&type=chunk) - The parent company's net income is driven by the results of its subsidiaries, with **BRL 639.6 million** in equity earnings contributing to a total net income of **BRL 626.6 million** for the quarter[340](index=340&type=chunk) [40. Subsequent events](index=91&type=section&id=40.%20Subsequent%20events) Subsequent events include ANEEL's public consultation on hydroelectric concessions and Copel DIS's **BRL 1.6 billion** debenture offering - In May 2023, ANEEL opened a public consultation on the new concession contracts for HPP Segredo, HPP Salto Caxias, and HPP Foz do Areia, which is linked to Copel's potential transformation into a 'Corporation'[355](index=355&type=chunk) - On June 6, 2023, Copel DIS announced a public distribution offer of **BRL 1.6 billion** in debentures, scheduled for issuance on June 15, 2023[358](index=358&type=chunk)

Company Participants Adriano Moura - Chief Financial Officer Conference Call Participants Andre Sampaio - Santander Good afternoon, ladies and gentlemen, welcome to Companhia Paranaense de Energia - COPEL's Video Conference Call to discuss the results of the First Quarter 2023. This call is being recorded, and the replay may be accessed at the companyÂ's website, ri.copel.com and the presentation is also available for download. We would like to inform you that all participants will be in listen-only mode du ...

RESULTS COPEL Pura Energian S 1Q LT Any statements made during this event involving Copel's business outlook or financial and operating forecasts and targets constitute the beliefs and assumptions of the Company's Management, and the information currently available. The general economic conditions, industry conditions and other operating factors could come to affect the future performance of Copel and lead to results that are materially different from those expressed in said forwardlooking statements. BUSIN ...

SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 6-K Report of Foreign Private Issuer Pursuant to Rule 13a-16 or 15d-16 of the Securities Exchange Act of 1934 For the month of April, 2023 Commission File Number 1-14668 COMPANHIA PARANAENSE DE ENERGIA - COPEL Corporate Taxpayer's ID (CNPJ): 76.483.817/0001-20 PUBLICLY-HELD COMPANY CVM Registration 1431-1 SUMMARY OF THE TWO HUNDRED AND TWENTY-SIXTH EXTRAORDINARY BOARD OF DIRECTORS' MEETING COMPANHIA PARANAENSE DE ENERGIA (Exact name of registran ...

[Part I](index=6&type=section&id=Part%20I) [Key Information](index=7&type=section&id=Item%203.%20Key%20Information) This section outlines the company's principal risks, including state control, operational dependencies, regulatory uncertainties, and macroeconomic volatility [Risk Factors](index=7&type=section&id=Risk%20Factors) The company faces significant risks from state control, operational dependencies, regulatory uncertainties, and Brazilian macroeconomic instability - The State of Paraná controls the company, owning **69.7% of outstanding common voting shares**, which allows it to control operations and elect the majority of the Board of Directors. This control may lead to decisions based on public policy rather than business optimization[28](index=28&type=chunk) - A proposed public offering aims to disperse share ownership by having the State of Paraná sell a portion of its equity, reducing its stake while maintaining at least **15% of total capital**. The success of this transaction is critical for the renewal of concessions for key hydroelectric plants like Foz do Areia, Segredo, and Salto Caxias[30](index=30&type=chunk)[35](index=35&type=chunk) - The company's operations are heavily dependent on the economy of the State of Paraná. An economic downturn could affect customers' ability to pay, leading to increased overdue receivables, which stood at **R$526.3 million** as of December 31, 2022[36](index=36&type=chunk)[37](index=37&type=chunk) - The company is defendant in several legal proceedings with provisions for probable losses amounting to **R$2,037.6 million** as of December 31, 2022[47](index=47&type=chunk) - Brazil's macroeconomic conditions, including inflation, interest rates, and exchange rate volatility, directly impact the company's financial performance. In 2022, Brazil's GDP grew by **2.9%**, inflation (IPCA) was **5.79%**, and the benchmark SELIC interest rate ended the year at **13.75%**[108](index=108&type=chunk) [Information on the Company](index=26&type=section&id=Item%204.%20Information%20on%20the%20Company) This section provides a comprehensive overview of Copel's business, including its structure, strategic changes, operations, regulatory environment, and ESG initiatives [The Company Overview](index=26&type=section&id=The%20Company) Copel is a major Brazilian energy company operating in generation, transmission, distribution, and sales, primarily in Paraná, with 6,705 MW installed capacity Company Infrastructure and Capacity (as of Dec 31, 2022) | Metric | Value | | :--- | :--- | | Total Installed Capacity | 6,705 MW | | Hydroelectric Plants | 18 | | Wind Plants | 34 | | Thermoelectric Plants | 1 | | Transmission Lines | 3,705 km | | Distribution Lines | 208,133 km | - The State of Paraná is the controlling shareholder, owning **69.7%** of the company's common (voting) shares as of December 31, 2022[151](index=151&type=chunk) - In August 2021, the company concluded the sale of its telecommunications subsidiary, Copel Telecomunicações S.A., for **R$2.5 billion**[154](index=154&type=chunk) [Significant Changes in Our Business](index=30&type=section&id=Significant%20Changes%20in%20Our%20Business) The company underwent strategic changes including proposed share ownership dispersion for concession renewals, wind complex acquisitions, and a significant tax provision - The State of Paraná authorized a plan to sell part of its equity to transform Copel into a corporation with dispersed share ownership. This move is essential to permit the renewal of concessions for the HPPs Foz do Areia, Segredo, and Salto Caxias[157](index=157&type=chunk)[158](index=158&type=chunk) - In January 2023, Copel acquired the Santa Rosa & Mundo Novo and Aventura Wind Power Complexes, adding **260.4 MW** of installed capacity for an enterprise value of **R$1,760.6 million**[161](index=161&type=chunk) - The concession for the gas distribution subsidiary, Compagas, was renewed for an additional **30 years** upon payment of a **R$508 million** award bonus to the State of Paraná[162](index=162&type=chunk) - A provision for the allocation of PIS and COFINS credits, following Federal Law 14,385/2022, negatively affected the 2022 net income by **R$1,202.5 million** with no immediate cash effect[169](index=169&type=chunk) [Business Operations](index=33&type=section&id=Business%20Operations) This sub-chapter details Copel's core business segments: Generation, Transmission, Distribution, and Other Businesses, including gas distribution Total Electricity Generated and Purchased (GWh) | Year | Copel GeT | Wind Farms | Copel Distribuição | Copel Comercialização | Total | | :--- | :--- | :--- | :--- | :--- | :--- | | 2022 | 25,062 | 2,838 | 25,442 | 24,817 | 62,468 | | 2021 | 19,633 | 2,570 | 25,338 | 23,192 | 54,019 | | 2020 | 16,627 | 2,145 | 26,123 | 12,449 | 49,399 | Total Electricity Delivered by Segment (GWh) | Year | Copel GeT | Wind Farms | Copel Distribuição | Copel Comercialização | Total | | :--- | :--- | :--- | :--- | :--- | :--- | | 2022 | 25,062 | 3,153 | 23,472 | 24,817 | 76,504 | | 2021 | 19,633 | 2,451 | 22,555 | 23,192 | 68,098 | | 2020 | 15,897 | 2,278 | 23,043 | 12,449 | 53,668 | - As of December 31, 2022, the company served **5.0 million customers** in its distribution area, with total energy distribution losses at **9.0%** of the total energy available in 2022[258](index=258&type=chunk)[267](index=267&type=chunk) - The gas distribution subsidiary, Compagas, renewed its concession until July 2054. In 2022, its net revenues were **R$1,297.0 million**, a **65.6% increase** from 2021, and its net income was **R$179.2 million**, a **79.9% increase**[318](index=318&type=chunk)[322](index=322&type=chunk) [Concessions](index=56&type=section&id=Concessions) The company operates under government concessions, with renewals tied to new tariff regimes, quality standards, and privatization for key hydroelectric plants - The 2013 Concession Renewal Law allows for a **30-year extension** of concessions if the concessionaire agrees to new conditions, including a revised tariff regime and quality standards[333](index=333&type=chunk) - The renewal of the Foz do Areia HPP concession, expiring in 2024, is being pursued under a rule that allows for a new **30-year grant** if the concession holder is privatized. This is aligned with the controlling shareholder's plan to transform Copel into a company with dispersed capital[346](index=346&type=chunk) - The company's main transmission concession was renewed under the 2013 law and now expires in January 2043[367](index=367&type=chunk) - The distribution concession was renewed in December 2015 for an additional **30-year period**, expiring in July 2045. The renewal imposes strict efficiency conditions related to service quality and economic-financial sustainability[371](index=371&type=chunk)[372](index=372&type=chunk) [Competition](index=65&type=section&id=Competition) Copel faces competition in generation and from 'Free Customers' and distributed generation, despite a near-monopoly in distribution - While the distribution business faces little direct competition in its concession area, the generation business competes for new concessions and to supply Free Customers[384](index=384&type=chunk)[389](index=389&type=chunk) - As of December 31, 2022, Copel had **1,491 Free Customers**, representing approximately **10.4%** of its consolidated operating revenue and **16.7%** of the total volume of electricity sold[388](index=388&type=chunk) - The growth of distributed generation, where consumers produce their own energy (e.g., solar panels), is a long-term competitive threat that could reduce demand from the grid[392](index=392&type=chunk) [Environmental, Social and Governance (ESG)](index=66&type=section&id=Environmental%2C%20Social%20and%20Governance) Copel is committed to ESG, with a Carbon Neutrality Plan and a goal to be 100% renewable by 2030, enhancing governance through B3's 'Level 2' listing - The company has a Carbon Neutrality Plan with a goal to neutralize greenhouse gas emissions from its controlled assets by **2030**[401](index=401&type=chunk)[402](index=402&type=chunk) - A key strategic driver is to become **100% renewable by 2030**, which includes divesting from thermoelectric plants and expanding investments in wind and solar farms[404](index=404&type=chunk) - In November 2021, Copel migrated to the B3's 'Level 2' special listing segment, enhancing corporate governance by increasing minority shareholder representation on the Board of Directors and creating new statutory committees[411](index=411&type=chunk)[412](index=412&type=chunk) [The Brazilian Electric Power Industry](index=70&type=section&id=The%20Brazilian%20Electric%20Power%20Industry) This section details the Brazilian electricity sector's structure and regulatory framework, including key authorities, market models, tariff mechanisms, and hydrological risk management - The Brazilian power industry is regulated by several key bodies, including the Ministry of Mines and Energy (MME) for policymaking, ANEEL as the independent regulator, the National Electric System Operator (ONS) for coordinating generation and transmission, and the Electric Energy Trading Chamber (CCEE) for managing market transactions[426](index=426&type=chunk)[428](index=428&type=chunk)[429](index=429&type=chunk)[431](index=431&type=chunk) - The New Industry Model Law (2004) restructured the sector into two markets: the Regulated Market, where distributors purchase energy via public auctions to supply captive customers, and the Free Market, where large consumers and traders can negotiate contracts directly[438](index=438&type=chunk)[460](index=460&type=chunk) - Distribution tariffs are adjusted annually by ANEEL and are composed of 'Parcel A' costs (uncontrollable, like energy purchases) which are fully passed through, and 'Parcel B' costs (controllable, like O&M) which are adjusted for inflation minus an efficiency factor (X factor)[503](index=503&type=chunk)[506](index=506&type=chunk) - The Energy Reallocation Mechanism (MRE) is a system designed to mitigate hydrological risks for hydroelectric generators by reallocating energy among participants to ensure all receive revenue corresponding to their 'Assured Energy', regardless of actual generation[534](index=534&type=chunk)[536](index=536&type=chunk) [Operating and Financial Review and Prospects](index=93&type=section&id=Item%205.%20Operating%20and%20Financial%20Review%20and%20Prospects) This section analyzes the company's financial performance, including the impact of economic conditions, comparative results, liquidity, capital resources, and debt obligations [Results of Operations](index=99&type=section&id=Results%20of%20Operations) The company's net income sharply decreased by **77.2%** in 2022 due to non-recurring provisions, despite positive operating influences from hydrological conditions and market growth Consolidated Results of Operations (R$ million) | Item | 2022 | 2021 | 2020 | | :--- | :--- | :--- | :--- | | **Net Operating Revenues** | **21,927.9** | **23,984.5** | **18,633.1** | | Operating Costs and Expense | (19,490.1) | (18,904.6) | (14,573.5) | | Equity in earnings of associates | 478.6 | 366.3 | 193.5 | | Financial results | (1,966.0) | (327.4) | 866.3 | | Profit before income tax | 950.4 | 5,118.8 | 5,119.4 | | Net income from continuing operations | 1,149.5 | 3,859.2 | 3,834.0 | | Net income from discontinued operations | - | 1,189.6 | 75.6 | | **Net income for the year** | **1,149.5** | **5,048.8** | **3,909.6** | - **2022 vs. 2021:** Net income decreased by **77.2%**. Net operating revenues fell by **8.6%** to **R$21,927.9 million**, mainly due to a **R$2,390.0 million** drop in electricity sales to distributors as improved hydrological conditions reduced the need for dispatch from the TPP Araucária thermoelectric plant. Operating costs increased by **3.1%**, driven by a **R$646.2 million** increase in provisions for litigation and credit losses[580](index=580&type=chunk)[583](index=583&type=chunk)[584](index=584&type=chunk)[589](index=589&type=chunk) - **2021 vs. 2020:** Net income increased by **29.1%**. The result was significantly impacted by a **R$1,189.6 million** net income from discontinued operations, primarily from the sale of Copel Telecom. Net operating revenues from continuing operations grew by **28.7%** to **R$23,984.5 million**, driven by higher electricity sales to both final customers and distributors, reflecting increased prices and volume[593](index=593&type=chunk)[605](index=605&type=chunk) [Liquidity and Capital Resources](index=105&type=section&id=Liquidity%20and%20Capital%20Resources) The company's capital requirements focus on infrastructure expansion, with liquidity from operations and financing, and significant capital expenditures and debt obligations Capital Expenditures (R$ million) | Area | 2022 | 2021 | 2020 | | :--- | :--- | :--- | :--- | | Generation and transmission | 472.7 | 494.8 | 431.9 | | Distribution | 1,848.1 | 1,623.0 | 1,279.6 | | **Total** | **2,518.5** | **2,255.3** | **1,904.7** | - The budgeted capital expenditure for 2023 is **R$2,182.3 million**, with **R$1,878.9 million** allocated to the distribution business[616](index=616&type=chunk)[620](index=620&type=chunk) Cash Flow Summary (R$ million) | Activity | 2022 | 2021 | 2020 | | :--- | :--- | :--- | :--- | | Net Cash from Operating Activities | 3,902.6 | 3,386.8 | 3,940.8 | | Net Cash from Investing Activities | (2,775.0) | 31.9 | (1,667.6) | | Net Cash from Financing Activities | (1,922.0) | (2,884.4) | (1,715.1) | | **Change in Cash and Cash Equivalents** | **(794.388)** | **534.313** | **558.160** | - As of December 31, 2022, total outstanding loans, financing, and debentures amounted to **R$12,454.2 million**, with no debt denominated in U.S. dollars[622](index=622&type=chunk) [Directors, Senior Management and Employees](index=111&type=section&id=Item%206.%20Directors%2C%20Senior%20Management%20and%20Employees) This section details the company's governance structure, including its Board of Directors, Executive Officers, committees, compensation policies, and employee data - The company is managed by a Board of Directors with **9 members** and a Board of Executive Officers with **7 members**. The terms for the current Board of Directors expire in April 2023[633](index=633&type=chunk)[637](index=637&type=chunk)[653](index=653&type=chunk) - The aggregate compensation for the Board of Directors, Executive Officers, and Supervisory Board in 2022 was **R$8.6 million**[685](index=685&type=chunk) Number of Employees by Area | Area | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | | :--- | :--- | :--- | :--- | | Generation and transmission | 1,487 | 1,523 | 1,533 | | Distribution | 4,257 | 4,430 | 4,641 | | Corporation staff and R&D | 84 | 169 | 96 | | Other | 47 | 44 | 42 | | **Total (Copel & wholly-owned subs)** | **5,875** | **6,383** | **6,667** | - As of March 31, 2023, the company's board members and executive officers collectively held less than **1.0%** of any class of its shares[699](index=699&type=chunk) [Major Shareholders and Related Party Transactions](index=125&type=section&id=Item%207.%20Major%20Shareholders%20and%20Related%20Party%20Transactions) This section identifies major shareholders, including the State of Paraná and BNDESPAR, and details significant related party transactions, such as loans and energy sales Common Share Ownership (as of Dec 31, 2022) | Shareholder | Common Shares (thousands) | % of Total | | :--- | :--- | :--- | | State of Paraná | 734,298 | 69.7% | | BNDESPAR | 131,162 | 12.4% | | Public Float | 169,990 | 16.1% | | Other | 18,601 | 1.8% | | **Total** | **1,054,090** | **100.0%** | Class B Preferred Share Ownership (as of Dec 31, 2022) | Shareholder | Class B Shares (thousands) | % of Total | | :--- | :--- | :--- | | BNDESPAR | 524,646 | 31.2% | | Public Float (B3) | 905,335 | 53.9% | | State of Paraná | 115,945 | 6.9% | | Traded as ADSs | 130,572 | 7.8% | | Other | 2,837 | 0.2% | | **Total** | **1,679,335** | **100.0%** | - The company engages in significant transactions with its controlling shareholder, the State of Paraná, including receivables of **R$18.4 million** related to social energy programs[721](index=721&type=chunk) - BNDES, the parent of major shareholder BNDESPAR, is also a significant lender to the company. As of December 31, 2022, Copel had an aggregate outstanding net debt of **R$2,314.4 million** with BNDES and BNDESPAR[719](index=719&type=chunk)[720](index=720&type=chunk) [Financial Information](index=129&type=section&id=Item%208.%20Financial%20Information) This section covers legal proceedings, including significant tax-related provisions, and the company's dividend policy, which links payouts to financial leverage Legal Claims Exposure (as of Dec 31, 2022) | Claim Category | Provision for Probable Loss (R$ million) | Possible Loss (Not Provisioned) (R$ million) | | :--- | :--- | :--- | | Tax and Social Contribution | 123.6 | 489.8 | | Labor-related | 536.4 | 372.1 | | Regulatory | 8.5 | 1,496.6 | | Civil / Additional | 1,369.1 | 1,337.6 | | **Total** | **2,037.6** | **3,708.8** | - A significant provision of **R$1,851.3 million** was made related to the allocation of PIS/COFINS credits following the enactment of Federal Law 14,385/2022, which negatively impacted 2022 results[730](index=730&type=chunk)[733](index=733&type=chunk) - The company's dividend policy is tied to its financial leverage (Net Debt/EBITDA ratio). Payouts range from **25% to 65%** of adjusted net profit depending on this ratio[743](index=743&type=chunk)[748](index=748&type=chunk) [Additional Information](index=137&type=section&id=Item%2010.%20Additional%20Information) This section provides details on corporate structure, material contracts, exchange controls, and taxation, including director qualifications, shareholder rights, and tax implications for investors - The company's bylaws require the Board of Directors to have at least **three independent members** or **25% of its total members**[768](index=768&type=chunk) - Shareholders have preemptive rights to subscribe to new shares in any capital increase, in proportion to their ownership, for a minimum period of **30 days**[786](index=786&type=chunk) - For Brazilian tax purposes, dividends paid from profits generated after January 1, 1996, are generally not subject to withholding tax for non-Brazilian holders. However, distributions of interest on equity are subject to a **15% withholding tax** (**25% for tax haven residents**)[816](index=816&type=chunk)[819](index=819&type=chunk) - For U.S. federal income tax purposes, dividends paid on the ADSs are expected to be treated as 'qualified dividends' subject to preferential tax rates for individuals, provided the company is not a PFIC[843](index=843&type=chunk) [Part II](index=152&type=section&id=Part%20II) [Controls and Procedures](index=152&type=section&id=Item%2015.%20Controls%20and%20Procedures) This section confirms the effectiveness of the company's disclosure controls and internal control over financial reporting as of December 31, 2022 - Management concluded that as of December 31, 2022, the company's disclosure controls and procedures were effective[870](index=870&type=chunk) - Based on the criteria from the COSO Integrated Framework (2013), management concluded that the company's internal control over financial reporting was effective as of December 31, 2022[875](index=875&type=chunk) - The independent registered public accounting firm, Deloitte Touche Tohmatsu Auditores Independentes Ltda., issued an unqualified opinion on the effectiveness of the company's internal control over financial reporting as of December 31, 2022[876](index=876&type=chunk) [Other Information](index=153&type=section&id=Item%2016.%20Other%20Information) This section covers governance and compliance, including the audit committee financial expert, accountant fees, and corporate governance practices compared to NYSE standards - The Board of Directors has determined that Mr. Carlos Biedermann is an 'audit committee financial expert' and is independent as required by SEC rules[883](index=883&type=chunk) Principal Accountant Fees (R$ million) | Service Category | 2022 | 2021 | | :--- | :--- | :--- | | Audit fees | 4.8 | 4.7 | | Tax fees | 0.1 | 0.1 | | **Total** | **4.9** | **4.8** | - As a controlled company, Copel is not required to have a majority of independent directors or fully independent nominating/corporate governance and compensation committees under NYSE rules[897](index=897&type=chunk)[899](index=899&type=chunk) [Part III](index=158&type=section&id=Part%20III) [Financial Statements](index=158&type=section&id=Item%2018.%20Financial%20Statements) This section presents the company's audited consolidated financial statements for 2020-2022, prepared under IFRS, with an unqualified opinion from the independent auditor Consolidated Statement of Financial Position (R$ thousands) | Item | Dec 31, 2022 | Dec 31, 2021 | | :--- | :--- | :--- | | **Total Current Assets** | **9,327,249** | **11,189,872** | | **Total Noncurrent Assets** | **40,376,451** | **38,347,663** | | **TOTAL ASSETS** | **49,703,700** | **49,537,535** | | **Total Current Liabilities** | **7,156,597** | **7,979,993** | | **Total Noncurrent Liabilities** | **21,415,878** | **19,382,307** | | **TOTAL EQUITY** | **21,131,225** | **22,175,235** | | **TOTAL LIABILITIES & EQUITY** | **49,703,700** | **49,537,535** | Consolidated Statement of Income (R$ thousands) | Item | 2022 | 2021 | 2020 | | :--- | :--- | :--- | :--- | | Net Operating Revenue | 21,927,721 | 23,984,287 | 18,633,249 | | Profit Before Financial Results and Taxes | 2,916,236 | 5,446,038 | 4,253,266 | | Net Income from Continuing Operations | 1,149,321 | 3,859,045 | 3,834,172 | | Net Income from Discontinued Operations | - | 1,189,557 | 75,578 | | **Net Income** | **1,149,321** | **5,048,602** | **3,909,750** | Consolidated Statement of Cash Flows (R$ thousands) | Item | 2022 | 2021 | 2020 | | :--- | :--- | :--- | :--- | | Net Cash from Operating Activities | 3,902,649 | 3,386,832 | 3,940,844 | | Net Cash from Investing Activities | (2,774,996) | 31,908 | (1,667,571) | | Net Cash from Financing Activities | (1,922,041) | (2,884,427) | (1,715,113) | | **Change in Cash and Cash Equivalents** | **(794,388)** | **534,313** | **558,160** |

Companhia Paranaense de Energia - COPEL (NYSE:ELP) Q3 2022 Earnings Conference Call November 11, 2022 8:00 AM ET Company Participants Daniel Slaviero - CEO Adriano Rudek de Moura - CFO Marcel Malczewski - Chairman Conference Call Participants Carolina Carneiro - Credit Suisse Marcelo Sa - Itau BBA Daniel Almeida - Butia Investimentos Operator Good day, ladies and gentlemen. Welcome to the Video Conference of Companhia Paranaense de Energia - COPEL to discuss Third Quarter 2022 Earnings Results. This video c ...

Companhia Paranaense de Energia - COPEL (NYSE:ELP) Q2 2022 Earnings Conference Call August 10, 2022 9:00 AM ET Corporate Participants Daniel Pimentel Slaviero - Chief Executive Officer Adriano Rudek de Moura - Chief Financial Officer Conference Call Participants Marcelo Sá - Itaú BBA Daniel Travitzky - Safra Operator Good morning ladies and gentlemen. Welcome to Companhia Paranaense de Energia - COPEL video conference to discuss the results of the First Quarter (sic) [Second Quarter] of 2022. This video con ...

[Form 6-K Filing Information](index=1&type=section&id=Form%206-K%20Filing%20Information) [Registrant Details](index=1&type=section&id=Registrant%20Details) This Form 6-K report is filed by Companhia Paranaense de Energia (COPEL), an energy company based in Curitiba, Paraná, Brazil, pertaining to the month of June 2022 - The registrant is Companhia Paranaense de Energia (Energy Company of Paraná), a foreign private issuer from Brazil[1](index=1&type=chunk) - The company files annual reports under Form 20-F[2](index=2&type=chunk) [Notice to Debenture Holders](index=2&type=section&id=Notice%20to%20Debenture%20Holders) [Fulfillment of the Step Down Condition](index=2&type=section&id=Fulfillment%20of%20the%20Step%20Down%20Condition) Companhia Paranaense de Energia (COPEL) announced that its subsidiary, Copel Distribuição S.A., fulfilled a key condition related to its 6th Debenture Issue by obtaining Category 'B' publicly-held company registration with the CVM on May 19, 2022, triggering a 'Step Down' condition for the interest rate of the first series of these debentures - The notice is directed to the debenture holders of the 6th Issue of Unsecured Simple Debentures of Copel Distribuição S.A[4](index=4&type=chunk) - On May 19, 2022, Copel Distribuição S.A. obtained registration as a Category 'B' publicly-held company with the CVM, fulfilling the 'Step Down' condition[4](index=4&type=chunk) [Adjustment of Debenture Interest Rate](index=2&type=section&id=Adjustment%20of%20Debenture%20Interest%20Rate) Following the fulfillment of the Step Down condition, the interest rate for the First Series of the 6th Debenture Issue has been adjusted to the accumulated variation of the average daily DI (Interbank Deposits) rates plus a reduced spread of 1.75% per year, applicable from the next capitalization period Adjusted Interest Rate for First Series Debentures | Component | Description | | :--- | :--- | | **Base Rate** | 100% of the accumulated variation of the average daily DI (Interbank Deposits) rates | | **Spread** | 1.75% per year | | **Applicability** | Effective from the next Capitalization Period | [Indenture Amendment](index=2&type=section&id=Indenture%20Amendment) To formalize the interest rate adjustment, COPEL, the Trustee, and the Guarantor executed a second amendment to the indenture agreement governing the 6th Debenture Issue, officially reflecting the new, adjusted spread for the First Series - A second amendment to the indenture was executed to reflect the adjusted spread of the First Series of the 6th Debenture Issue[6](index=6&type=chunk) [Signatures and Forward-Looking Statements](index=3&type=section&id=Signatures%20and%20Forward-Looking%20Statements) [Signatures](index=3&type=section&id=Signatures) The report was duly authorized and signed on June 30, 2022, by Daniel Pimentel Slaviero, the Chief Executive Officer of Companhia Paranaense de Energia – COPEL - The report is signed by Daniel Pimentel Slaviero, Chief Executive Officer, on behalf of COPEL[11](index=11&type=chunk)[12](index=12&type=chunk) [Forward-Looking Statements](index=3&type=section&id=Forward-Looking%20Statements) The document includes a standard cautionary statement regarding forward-looking statements, clarifying that these are based on management's current views and are subject to risks and uncertainties, with no guarantee that expected events or results will occur - The press release contains forward-looking statements based on management's current views and estimates, which are not historical facts[13](index=13&type=chunk) - These statements are subject to risks and uncertainties, and actual results may differ materially from expectations due to changes in assumptions or factors like economic and market conditions[13](index=13&type=chunk)

Companhia Paranaense de Energia - COPEL (NYSE:ELP) Q1 2022 Earnings Conference Call May 12, 2022 1:00 PM ET Company Participants Daniel Pimentel Slaviero - Chief Executive Officer Adriano Rudek de Moura - Chief Financial Officer Conference Call Participants Operator Good afternoon, ladies and gentlemen. Welcome to Companhia Paranaense de Energia - COPEL'S Conference Call to discuss the Results of the First Quarter of 2022. This call is being recorded and the replay may be accessed at the company's website i ...