Document:

Exhibit 4.4

 

NATIONAL ELECTRICITY AGENCY —
ANEEL

 

 

THIRD AMENDMENT

 

CONCESSION CONTRACT FOR PROVISION

 

OF PUBLIC ELECTRICITY

 

DISTRIBUTION SERVICE NO.
002/1997-DNAEE

 

 

CEMIG DISTRIBUTION S.A.

 

NORTHERN AREA

 

 

NATIONAL ELECTRICITY AGENCY — ANEEL

 

PROCESS NO. 48500.006111/2007-08

 

	
   

  	
  THIRD AMENDMENT TO ELECTRICITY DISTRIBUTION
  CONCESSION CONTRACT NO. 002/1997-DNAEE — NORTHERN AREA, SIGNED BETWEEN THE
  NATION OF BRAZIL AND CEMIG DISTRIBUTION S.A.

  

 

THE NATION OF BRAZIL, hereinafter referred to as the Concession-Granting
Power, in exercise of the function conferred upon it by Article 21, Sub-item
XXII, sub-item “b”, of the Federal Constitution, through the NATIONAL ELECTRICITY AGENCY — ANEEL as intermediary, in accordance with the
provisions of Sub-item IV, Article 3 of Law 9427 of December 26, 1996, a
special-regime autonomous authority, with head office at SGAN, Quadra 603,
Modulo “I”, Brasília, Federal District, registered in the CNPJ/MF under No.
02.270.669/0001-29, represented by its Director-General, NELSON JOSÉ HÜBNER
MOREIRA, bearer of Identity Card CREA3.818/D-CREA/DF and CPF 443.875.207-87,
under Sub-item V, Article X, Appendix I — Regulations Structure, approved by
Decree 2335 of October 6, 1997, supported by Decree 4932 of December 23, 2003,
hereinafter referred to as ANEEL, and CEMIG
DISTRIBUTION S.A.,
with head office in the city of Belo Horizonte, Minas Gerais State, at Avenida
Barbacena 1200, Bairro Santo Agostinho, registered in the CNPJ/MF under No.
06.981.180/0001-16, represented in accordance with its Bylaws by its Chief
Executive Officer DJALMA BASTOS DE MORAIS, bearer of Identity Card RG number 1G
911214 — Army Ministry and CPF/MF No. 006.633.526-49, and by its Chief
Distribution and Sales Officer FERNANDO HENRIQUE SCHÜFFNER NETO, bearer of Identity
Card RG M 1.311.632-SSP/MG and CPF/MF No. 320.008.396-49, as holder of an
electricity distribution concession, hereinafter referred to as the CONCESSION HOLDER, with COMPANHIA
ENERGETICA DE MINAS GERAIS — CEMIG, hereinafter referred to as the CONTROLLING SCHÜFFNERHOLDER, as CONSENTING
PARTY, herein
represented by its Chief Executive Officer DJALMA BASTOS DE MORAIS, bearer of
Identity Card RG 1G 911214 — Army Ministry and CPF/MF 006.633.526-49, and by
its Chief Distribution and Sales Officer FERNANDO HENRIQUE SCHÜFFNER NETO,
bearer of Identity Card RG M 1.311.632-SSP/MG and CPF/MF 320.008.396-49, by
this instrument and in the best form of law, decide to sign the THIRD AMENDMENT TO ELECTRICITY DISTRIBUTION
CONCESSION CONTRACT NO. 002/1997-DNAEE — Northern Area, signed on July 10, 1997, in
accordance with the conditions and clauses below:

 

 

CLAUSE ONE — OBJECT

 

The object of this Amendment is to alter the
procedures of calculation of the annual tariff adjustments, with a view to
neutrality of the Sector Charges of “Portion A” of the Concession Holder’s
Annual Revenue, in accordance with the changes made in the drafting of Clause
Seven of Electricity Distribution Concession Contract No. 002/1997-DNAEE —
Northern Area specified in Clause Two of this Amendment.

 

CLAUSE TWO — TARIFFS APPLICABLE FOR PROVISION OF
THE SERVICE

 

Clause Seven — Tariffs applicable for procession
of the services —
of Electricity Distribution Concession Contract
002/1997-DNAEE — Northern Area, signed on July 10, 1997, shall now have the
following drafting:

 

“CLAUSE SEVEN — TARIFFS
APPLICABLE TO PROVISION OF THE SERVICE

 

“For
the provisions of the electricity distribution public service that is conceded
by this Contract, the CONCESSION HOLDER shall charge the tariffs homologated by
ANEEL.

 

Sub-clause One -

 

Sub-clause Two -

 

Sub-clause Three -
                                    :

I
- 

II
- 

 

Sub-clause Four -

 

Sub-clause Five —
For the purposes of tariff adjustment, the revenue of the CONCESSION HOLDER
shall be divided into two portions:

 

Portion
A: that portion of the revenue that corresponds to the following costs:

 

(i)
Purchase of electricity as a function of the “Reference Market”, which includes
the amount of electricity arising from the Company’s own distributed generation
undertakings;

 

(ii) Connection to and use of the electricity
transmission and distribution facilities; and

 

(iii)
Sector Charges: Global Reversion Reserve — RGR; Fuel Consumption Account — CCC;
Electricity Services Inspection Charge — TFSEE; Contribution to the National
Electricity System Operator — ONS; Royalties for Use of Water Resources — CFURH
for the purpose of electricity generation, when applicable; System Services
Charge — ESS;

 

 

Energy
Development Account — CDE; Program to Encourage Alternative Electricity Sources
— PROINFA; Research and Development — P&D; Energy Efficiency Program — PEE;
Reserve Energy Charge — EER;

 

Portion
B: 

 

Sub-clause six —
The tariffs homologated on the “Prior Reference Date” shall be adjusted so as
to recover the revenue of the CONCESSION HOLDER arising from application of the
average Tariff Adjustment Index (IRT), defined as follows:

 

	
   

  	
  IRT =  

  	
  VPA1 + VPB0 x (IVI ± X)

  	
   

  
	
  RA0

  	
   

  

 

where:

 

RA:
                                        ;

 

Annual
revenue from wholesale supply:                             ;

 

Annual
revenue from retail supply:                             ;

 

Annual
revenue from use of the distribution systems:                              ;

 

Reference
Market:                             ;

 

Period
of reference:                               ;

 

IVI:                               ;

 

X:                               ;

 

Electricity
losses in the Distribution System:                               ;

 

Electricity
bought:                                                      ;

 

 

VPA0: Value of “Portion A” considering the conditions in effect on the “Prior
Reference Date” and the “Reference Market”, calculated as follows:

 

(i)
For the electricity bought: the amount of Electricity Bought valued at the
average pass-through price that was considered in the adjustment or in the
previous adjustment;

 

(ii)
For the connection to the transmission and/or distribution systems, the amounts
considered in the previous adjustment or review, and, for the use of the
transmission and/or distribution systems, the amounts of power demand
contracted in the period of reference, valued at the respective tariffs
considered in the adjustment or in the previous adjustment; and

 

(iii)
For the other items of “Portion A”: amounts resulting from application of the
tariff components corresponding to the respective items, in effect on the “Prior
Reference Date”, to the “Reference Market”.

 

VPB0: Value of “Portion B” considering the conditions in effect on the “Prior
Reference Date” and the “Reference Market” calculated as follows:

 

VPB0 = RA0 - VPA0

 

VPA1: 

 

(i)
                                          ;

 

(ii)
                                         ;

 

(iii)
                                        ;
and

 

(iv)

 

Sub-clause Seven -                                           
.

 

Sub-clause
eight -                                           
.

 

Sub-clause
Nine -                                           
.

 

Sub-clause
Ten -                                           
.

 

 

Sub-clause
Eleven - 

 

Sub-clause
Twelve - 

 

Sub-clause
Thirteen - 

 

Sub-clause
Fourteen - 

 

Sub-clause
Fifteen - 

 

Sub-clause
Sixteen - 

 

Sub-clause
Seventeen - 

 

Sub-clause Eighteen — It shall be guaranteed to the CONCESSION HOLDER,
in the processes of tariff review and adjustment, that the Sector Charges of “Portion
A” shall be neutral in relation to such variation in the market as takes place
from February 2010 corresponding to the following costs:

 

Global
Reversion Reserve — RGR; Fuel Consumption Account — CCC; Energy Development
Account — CDE; Program to Encourage Alternative Electricity Sources — PROINFA;
System Services Charge — ESS; Reserve Energy Charge — EER; Electricity Services
Inspection Charge — TFSEE; contribution to the National Electricity System
Operator — ONS; and Royalties for Use of Water Resources — CFURH, calculated on the basis of the monthly
differences found between the amounts of each item invoiced in the period of
reference and the respective amounts considered in the previous tariff
adjustment or review, duly remunerated on the basis of the same index used in
the calculation of the balance of the Account for Compensation of Variation in
Values of “Portion A” Items — CVA.

 

CLAUSE THREE — RATIFYING PROVISIONS

 

All the other clauses and conditions of Electricity
Distribution Concession Contract No. 002/1997-DNAEE — Northern Area are
ratified, and those not expressly modified by this Amendment remain valid and
unchanged.

 

CLAUSE FOUR — GENERAL PROVISIONS

 

The changes made in this amendment shall be
implemented as from the first tariff adjustment or review carried out in 2010,
with effects as from February 2010, the effects of the discipline previously in
force being preserved in their entirety.

 

 

Being thus agreed, the parties have caused this
instrument to be written in 4 (four) copies of equal content and form, and they
are signed by the representatives of ANEEL, and of the CONCESSION HOLDER,
together with the witnesses identified below, for it to produce the due legal
effects.

 

 

Brasília,
Federal District, April 13,
2010.

 

 

BY ANEEL:

 

	
   

  	
   

  	
   

  
	
   

  	
  NELSON JOSÉ HÜBNER MOREIRA

  Director-General

  	
   

  

 

 

BY CEMIG DISTRIBUTION S.A.:

 

	
   

  	
   

  	
   

  
	
  DJALMA BASTOS DE MORAIS

  Chief Executive Officer

  	
   

  	
  FERNANO HENRIQUE SCHÜFFNER NETO

  Chief Distribution and Sales
  Officer

  

 

 

BY THE CONTROLLING STOCKHOLDER:

COMPANHIA ENERGETICA DE MINAS
GERAIS — CEMIG:

 

 

	
   

  	
   

  	
   

  
	
  DJALMA BASTOS DE MORAIS

  Chief Executive Officer

  	
   

  	
  FERNANO HENRIQUE SCHÜFFNER NETO

  Chief Distribution and Sales
  Officer

  

 

WITNESSES:

 

	
   

  	
   

  	
   

  
	
  Name: Gilberto Gomes
  Lacerda

  	
   

  	
  Name: [Stamp:]

  	
  Jandir Amorim Nascimento

  
	
  CPF: 609 892 386-87

  	
   

  	
  CPF:

  	
  057 353.601-59  

  

 

 

NATIONAL ELECTRICITY AGENCY —
ANEEL

 

 

THIRD AMENDMENT

 

CONCESSION CONTRACT FOR PROVISION

 

OF PUBLIC ELECTRICITY

 

DISTRIBUTION SERVICE NO.
003/1997-DNAEE

 

 

CEMIG DISTRIBUTION S.A.

 

SOUTHERN AREA

 

 

NATIONAL ELECTRICITY AGENCY — ANEEL

 

PROCESS NO. 48500.006111/2007-08

 

	
   

  	
  THIRD AMENDMENT TO ELECTRICITY DISTRIBUTION
  CONCESSION CONTRACT NO. 003/1997-DNAEE — SOUTHERN AREA, SIGNED BETWEEN THE
  NATION OF BRAZIL AND CEMIG DISTRIBUTION S.A.

  

 

THE NATION OF BRAZIL, hereinafter referred to as the
Concession-Granting Power, in exercise of the function conferred upon it by
Article 21, Sub-item XXII, sub-item “b”, of the Federal Constitution, through
the NATIONAL ELECTRICITY AGENCY —
ANEEL as intermediary,
in accordance with the provisions of Sub-item IV, Article 3 of Law 9427 of
December 26, 1996, a special-regime autonomous authority, with head office at
SGAN, Quadra 603, Modulo “I”, Brasília, Federal District, registered in the
CNPJ/MF under No. 02.270.669/0001-29, represented by its Director-General,
NELSON JOSÉ HÜBNER MOREIRA, bearer of Identity Card CREA3.818/D-CREA/DF and CPF
443.875.207-87, under Sub-item V, Article X, Appendix I — Regulations
Structure, approved by Decree 2335 of October 6, 1997, supported by Decree 4932
of December 23, 2003, hereinafter referred to as ANEEL, and CEMIG
DISTRIBUTION S.A.,
with head office in the city of Belo Horizonte, Minas Gerais State, at Avenida
Barbacena 1200, Bairro Santo Agostinho, registered in the CNPJ/MF under No.
06.981.180/0001-16, represented in accordance with its Bylaws by its Chief
Executive Officer DJALMA BASTOS DE MORAIS, bearer of Identity Card RG number 1G
911214 — Army Ministry and CPF/MF No. 006.633.526-49, and by its Chief
Distribution and Sales Officer FERNANDO HENRIQUE SCHÜFFNER NETO, bearer of
Identity Card RG M 1.311.632-SSP/MG and CPF/MF No. 320.008.396-49, as holder of
an electricity distribution concession, hereinafter referred to as the CONCESSION HOLDER, with COMPANHIA
ENERGETICA DE MINAS GERAIS — CEMIG, hereinafter referred to as the CONTROLLING SCHÜFFNERHOLDER, as CONSENTING
PARTY, herein
represented by its Chief Executive Officer DJALMA BASTOS DE MORAIS, bearer of
Identity Card RG 1G 911214 — Army Ministry and CPF/MF 006.633.526-49, and by
its Chief Distribution and Sales Officer FERNANDO HENRIQUE SCHÜFFNER NETO,
bearer of Identity Card RG M 1.311.632-SSP/MG and CPF/MF 320.008.396-49, by
this instrument and in the best form of law, decide to sign the THIRD AMENDMENT TO ELECTRICITY DISTRIBUTION
CONCESSION CONTRACT NO. 003/1997-DNAEE — Southern Area, signed on July 10, 1997, in
accordance with the conditions and clauses below:

 

 

CLAUSE ONE — OBJECT

 

The object of this Amendment is to alter the
procedures of calculation of the annual tariff adjustments, with a view to
neutrality of the Sector Charges of “Portion A” of the Concession Holder’s
Annual Revenue, in accordance with the changes made in the drafting of Clause
Seven of Electricity Distribution Concession Contract No. 003/1997-DNAEE —
Southern Area specified in Clause Two of this Amendment.

 

CLAUSE TWO — TARIFFS APPLICABLE FOR PROVISION OF
THE SERVICE

 

Clause Seven — Tariffs applicable for procession
of the services —
of Electricity Distribution Concession Contract
003/1997-DNAEE — Southern Area, signed on July 10, 1997, shall now have the
following drafting:

 

“CLAUSE SEVEN — TARIFFS
APPLICABLE TO PROVISION OF THE SERVICE

 

“For
the provisions of the electricity distribution public service that is conceded
by this Contract, the CONCESSION HOLDER shall charge the tariffs homologated by
ANEEL.

 

Sub-clause One -

 

Sub-clause Two -

 

Sub-clause Three -
                             :

I
- 

II
- 

 

Sub-clause Four -

 

Sub-clause Five —
For the purposes of tariff adjustment, the revenue of the CONCESSION HOLDER
shall be divided into two portions:

 

Portion
A: that portion of the revenue that corresponds to the following costs:

 

(i)
Purchase of electricity as a function of the “Reference Market”, which includes
the amount of electricity arising from the Company’s own distributed generation
undertakings;

 

(ii) Connection to and use of the electricity
transmission and distribution facilities; and

 

(iii)
Sector Charges: Global Reversion Reserve — RGR; Fuel Consumption Account — CCC;
Electricity Services Inspection Charge — TFSEE; Contribution to the National
Electricity System Operator — ONS; Royalties for Use of Water Resources — CFURH
for the purpose of electricity generation, when applicable; System Services
Charge — ESS; Energy Development Account — CDE; Program to Encourage
Alternative Electricity

 

 

Sources
— PROINFA; Research and Development — P&D; Energy Efficiency Program — PEE;
Reserve Energy Charge — EER;

 

Portion
B: 

 

Sub-clause six —
The tariffs homologated on the “Prior Reference Date” shall be adjusted so as
to recover the revenue of the CONCESSION HOLDER arising from application of the
average Tariff Adjustment Index (IRT), defined as follows:

 

	
   

  	
  IRT =  

  	
  VPA1 + VPB0 x (IVI ± X)

  	
   

  
	
  RA0

  	
   

  

 

where:

 

RA:
                                     ;

 

Annual
revenue from wholesale supply:                              ;

 

Annual
revenue from retail supply:                              ;

 

Annual
revenue from use of the distribution systems:                              ;

 

Reference
Market:                              ;

 

Period
of reference:                              ;

 

IVI:
                             ;

 

X:
                             ;

 

Electricity
losses in the Distribution System:                              ;

 

Electricity
bought:                                                   ;

 

 

VPA0: Value of “Portion A” considering the conditions in effect on the “Prior
Reference Date” and the “Reference Market”, calculated as follows:

 

(i)
For the electricity bought: the amount of Electricity Bought valued at the
average pass-through price that was considered in the adjustment or in the
previous adjustment;

 

(ii)
For the connection to the transmission and/or distribution systems, the amounts
considered in the previous adjustment or review, and, for the use of the
transmission and/or distribution systems, the amounts of power demand
contracted in the period of reference, valued at the respective tariffs
considered in the adjustment or in the previous adjustment; and

 

(iii)
For the other items of “Portion A”: amounts resulting from application of the
tariff components corresponding to the respective items, in effect on the “Prior
Reference Date”, to the “Reference Market”.

 

VPB0: Value of “Portion B” considering the conditions in effect on the “Prior
Reference Date” and the “Reference Market” calculated as follows:

 

VPB0 = RA0 - VPA0

 

VPA1: 

 

(i)
                                         ;

 

(ii)                                         ;

 

(iii)                                        ;
and

 

(iv)

 

Sub-clause Seven -                                           .

 

Sub-clause
eight -                                           .

 

Sub-clause
Nine -                                           .

 

Sub-clause
Ten -                                           .

 

 

Sub-clause
Eleven - 

 

Sub-clause
Twelve - 

 

Sub-clause
Thirteen - 

 

Sub-clause
Fourteen - 

 

Sub-clause
Fifteen - 

 

Sub-clause
Sixteen - 

 

Sub-clause
Seventeen - 

 

Sub-clause Eighteen — It shall be guaranteed to the CONCESSION HOLDER,
in the processes of tariff review and adjustment, that the Sector Charges of “Portion
A” shall be neutral in relation to such variation in the market as takes place
from February 2010 corresponding to the following costs:

 

Global
Reversion Reserve — RGR; Fuel Consumption Account — CCC; Energy Development
Account — CDE; Program to Encourage Alternative Electricity Sources — PROINFA;
System Services Charge — ESS; Reserve Energy Charge — EER; Electricity Services
Inspection Charge — TFSEE; contribution to the National Electricity System
Operator — ONS; and Royalties for Use of Water Resources — CFURH, calculated on the basis of the monthly
differences found between the amounts of each item invoiced in the period of
reference and the respective amounts considered in the previous tariff
adjustment or review, duly remunerated on the basis of the same index used in
the calculation of the balance of the Account for Compensation of Variation in
Values of “Portion A” Items — CVA.

 

CLAUSE THREE — RATIFYING PROVISIONS

 

All the other clauses and conditions of Electricity
Distribution Concession Contract No. 003/1997-DNAEE — Southern Area are
ratified, and those not expressly modified by this Amendment remain valid and
unchanged.

 

CLAUSE FOUR — GENERAL PROVISIONS

 

The changes made in this amendment shall be
implemented as from the first tariff adjustment or review carried out in 2010,
with effects as from February 2010, the effects of the discipline previously in
force being preserved in their entirety.

 

 

Being thus agreed, the parties have caused this
instrument to be written in 4 (four) copies of equal content and form, and they
are signed by the representatives of ANEEL, and of the CONCESSION HOLDER,
together with the witnesses identified below, for it to produce the due legal
effects.

 

 

Brasília,
Federal District, April 13,
2010.

 

 

BY ANEEL:

 

	
   

  	
   

  	
   

  
	
   

  	
  NELSON JOSÉ HÜBNER MOREIRA

  Director-General

  	
   

  

 

 

BY CEMIG DISTRIBUTION S.A.:

 

	
   

  	
   

  	
   

  
	
  DJALMA BASTOS DE MORAIS

  Chief Executive Officer

  	
   

  	
  FERNANO HENRIQUE SCHÜFFNER NETO

  Chief Distribution and Sales
  Officer

  

 

 

BY THE CONTROLLING STOCKHOLDER:

COMPANHIA ENERGETICA DE MINAS
GERAIS — CEMIG:

 

 

	
   

  	
   

  	
   

  
	
  DJALMA BASTOS DE MORAIS

  Chief Executive Officer

  	
   

  	
  FERNANO HENRIQUE SCHÜFFNER NETO

  Chief Distribution and Sales
  Officer

  

 

WITNESSES:

 

	
   

  	
   

  	
   

  
	
  Name: Gilberto Gomes
  Lacerda

  	
   

  	
  Name: [Stamp:]

  	
  Jandir Amorim Nascimento

  
	
  CPF: 609 892 386-87

  	
   

  	
  CPF:

  	
  057 353.601-59

  

 

 

NATIONAL ELECTRICITY AGENCY —
ANEEL

 

 

THIRD AMENDMENT

 

CONCESSION CONTRACT FOR PROVISION

 

OF PUBLIC ELECTRICITY

 

DISTRIBUTION SERVICE NO.
004/1997-DNAEE

 

 

CEMIG DISTRIBUTION S.A.

 

EASTERN AREA

 

 

NATIONAL ELECTRICITY AGENCY — ANEEL

 

PROCESS NO. 48500.006111/2007-08

 

THIRD
AMENDMENT TO ELECTRICITY DISTRIBUTION CONCESSION CONTRACT NO. 004/1997-DNAEE —
EASTERN AREA, SIGNED BETWEEN THE NATION OF BRAZIL AND CEMIG DISTRIBUTION S.A.

 

THE NATION OF BRAZIL, hereinafter referred to as the
Concession-Granting Power, in exercise of the function conferred upon it by Article 21,
Sub-item XXII, sub-item “b”, of the Federal Constitution, through the NATIONAL ELECTRICITY AGENCY — ANEEL as intermediary, in accordance with the
provisions of Sub-item IV, Article 3 of Law 9427 of December 26,
1996, a special-regime autonomous authority, with head office at SGAN, Quadra
603, Modulo “I”, Brasília, Federal District, registered in the CNPJ/MF under No. 02.270.669/0001-29,
represented by its Director-General, NELSON JOSÉ HÜBNER MOREIRA, bearer of
Identity Card CREA3.818/D-CREA/DF and CPF 443.875.207-87, under Sub-item V, Article X,
Appendix I — Regulations Structure, approved by Decree 2335 of October 6,
1997, supported by Decree 4932 of December 23, 2003, hereinafter referred
to as ANEEL, and CEMIG
DISTRIBUTION S.A.,
with head office in the city of Belo Horizonte, Minas Gerais State, at Avenida
Barbacena 1200, Bairro Santo Agostinho, registered in the CNPJ/MF under No. 06.981.180/0001-16,
represented in accordance with its Bylaws by its Chief Executive Officer DJALMA
BASTOS DE MORAIS, bearer of Identity Card RG number 1G 911214 — Army Ministry
and CPF/MF No. 006.633.526-49, and by its Chief Distribution and Sales
Officer FERNANDO HENRIQUE SCHÜFFNER NETO, bearer of Identity Card RG M 1.311.632-SSP/MG
and CPF/MF No. 320.008.396-49, as holder of an electricity distribution
concession, hereinafter referred to as the CONCESSION
HOLDER, with COMPANHIA ENERGETICA DE MINAS GERAIS — CEMIG, hereinafter referred to as the CONTROLLING SCHÜFFNERHOLDER, as CONSENTING
PARTY, herein
represented by its Chief Executive Officer DJALMA BASTOS DE MORAIS, bearer of
Identity Card RG 1G 911214 — Army Ministry and CPF/MF 006.633.526-49, and by
its Chief Distribution and Sales Officer FERNANDO HENRIQUE SCHÜFFNER NETO,
bearer of Identity Card RG M 1.311.632-SSP/MG and CPF/MF 320.008.396-49, by
this instrument and in the best form of law, decide to sign the THIRD AMENDMENT TO ELECTRICITY DISTRIBUTION
CONCESSION CONTRACT NO. 004/1997-DNAEE — Eastern Area, signed on July 10, 1997, in
accordance with the conditions and clauses below:

 

 

CLAUSE ONE — OBJECT

 

The object of this Amendment is to alter the
procedures of calculation of the annual tariff adjustments, with a view to
neutrality of the Sector Charges of “Portion A” of the Concession Holder’s
Annual Revenue, in accordance with the changes made in the drafting of Clause
Seven of Electricity Distribution Concession Contract No. 004/1997-DNAEE —
Eastern Area specified in Clause Two of this Amendment.

 

CLAUSE TWO — TARIFFS APPLICABLE FOR PROVISION OF
THE SERVICE

 

Clause Seven — Tariffs applicable for procession
of the services —
of Electricity Distribution Concession Contract
004/1997-DNAEE — Eastern Area, signed on June 18, 1997, shall now have the
following drafting:

 

“CLAUSE SEVEN — TARIFFS
APPLICABLE TO PROVISION OF THE SERVICE

 

“For
the provisions of the electricity distribution public service that is conceded
by this Contract, the CONCESSION HOLDER shall charge the tariffs homologated by
ANEEL.

 

Sub-clause One -

 

Sub-clause Two -

 

Sub-clause Three -
                                       :

I
- 

II
- 

 

Sub-clause Four -

 

Sub-clause Five —
For the purposes of tariff adjustment, the revenue of the CONCESSION HOLDER
shall be divided into two portions:

 

Portion
A: that portion of the revenue that corresponds to the following costs:

 

(i) Purchase
of electricity as a function of the “Reference Market”, which includes the
amount of electricity arising from the Company’s own distributed generation
undertakings;

 

(ii) Connection to and use of the electricity
transmission and distribution facilities; and

 

(iii) Sector
Charges: Global Reversion Reserve — RGR; Fuel Consumption Account — CCC;
Electricity Services Inspection Charge — TFSEE; Contribution to the National
Electricity System Operator — ONS; Royalties for Use of Water Resources — CFURH
for the purpose of electricity generation, when applicable; System Services
Charge — ESS;

 

 

Energy
Development Account — CDE; Program to Encourage Alternative Electricity Sources
— PROINFA; Research and Development — P&D; Energy Efficiency Program — PEE;
Reserve Energy Charge — EER;

 

Portion
B: 

 

Sub-clause six —
The tariffs homologated on the “Prior Reference Date” shall be adjusted so as
to recover the revenue of the CONCESSION HOLDER arising from application of the
average Tariff Adjustment Index (IRT), defined as follows:

 

	
  IRT = 

  	
   VPA1 + VPB0 x (IVI ±
  X)

   

  	
   

  
	
   

   RA0

  	
   

  

 

where:

 

RA:
                                            ;

 

Annual
revenue from wholesale supply:                           ;

 

Annual
revenue from retail supply:                           ;

 

Annual
revenue from use of the distribution systems:                          ;

 

Reference
Market:                           ;

 

Period
of reference:                           ;

 

IVI:                           ;

 

X:                           ;

 

Electricity
losses in the Distribution System:                           ;

 

Electricity
bought:                                                   ;

 

 

VPA0: Value of “Portion A” considering the conditions in effect on the “Prior
Reference Date” and the “Reference Market”, calculated as follows:

 

(i) For
the electricity bought: the amount of Electricity Bought valued at the average
pass-through price that was considered in the adjustment or in the previous
adjustment;

 

(ii) For
the connection to the transmission and/or distribution systems, the amounts
considered in the previous adjustment or review, and, for the use of the
transmission and/or distribution systems, the amounts of power demand contracted
in the period of reference, valued at the respective tariffs considered in the
adjustment or in the previous adjustment; and

 

(iii) For
the other items of “Portion A”: amounts resulting from application of the
tariff components corresponding to the respective items, in effect on the “Prior
Reference Date”, to the “Reference Market”.

 

VPB0: Value of “Portion B” considering the conditions in effect on the “Prior
Reference Date” and the “Reference Market” calculated as follows:

 

VPB0 = RA0 - VPA0

 

VPA1: 

 

(i)                                     ;

 

(ii)                                     ;

 

(iii)                                     ;
and

 

(iv) 

 

Sub-clause Seven -                                      
.

 

Sub-clause
eight -                                      
.

 

Sub-clause
Nine -                                      
.

 

Sub-clause
Ten -                                      
.

 

 

Sub-clause
Eleven - 

 

Sub-clause
Twelve - 

 

Sub-clause
Thirteen - 

 

Sub-clause
Fourteen - 

 

Sub-clause
Fifteen - 

 

Sub-clause
Sixteen - 

 

Sub-clause
Seventeen - 

 

Sub-clause Eighteen — It shall be guaranteed to the CONCESSION HOLDER,
in the processes of tariff review and adjustment, that the Sector Charges of “Portion
A” shall be neutral in relation to such variation in the market as takes place
from February 2010 corresponding to the following costs:

 

Global
Reversion Reserve — RGR; Fuel Consumption Account — CCC; Energy Development
Account — CDE; Program to Encourage Alternative Electricity Sources — PROINFA;
System Services Charge — ESS; Reserve Energy Charge — EER; Electricity Services
Inspection Charge — TFSEE; contribution to the National Electricity System
Operator — ONS; and Royalties for Use of Water Resources — CFURH, calculated on the basis of the monthly
differences found between the amounts of each item invoiced in the period of
reference and the respective amounts considered in the previous tariff
adjustment or review, duly remunerated on the basis of the same index used in
the calculation of the balance of the Account for Compensation of Variation in
Values of “Portion A” Items — CVA.

 

CLAUSE THREE — RATIFYING PROVISIONS

 

All the other clauses and conditions of Electricity
Distribution Concession Contract No. 004/1997-DNAEE — Eastern Area are
ratified, and those not expressly modified by this Amendment remain valid and
unchanged.

 

CLAUSE FOUR — GENERAL PROVISIONS

 

The changes made in this amendment shall be
implemented as from the first tariff adjustment or review carried out in 2010,
with effects as from February 2010, the effects of the discipline
previously in force being preserved in their entirety.

 

 

Being thus agreed, the parties have caused this
instrument to be written in 4 (four) copies of equal content and form, and they
are signed by the representatives of ANEEL, and of the CONCESSION HOLDER,
together with the witnesses identified below, for it to produce the due legal
effects.

 

Brasília,
Federal District, April 13,
2010.

 

BY ANEEL:

 

	
   

  	
   

  	
   

  
	
   

  	
  NELSON JOSÉ HÜBNER MOREIRA

  Director-General

  	
   

  

 

BY CEMIG DISTRIBUTION S.A.:

 

	
   

  	
   

  	
   

  	
   

  
	
   

  	
  DJALMA BASTOS DE MORAIS

  Chief Executive Officer

  	
   

  	
  FERNANO HENRIQUE SCHÜFFNER NETO

  Chief Distribution and Sales
  Officer

  

 

BY THE CONTROLLING STOCKHOLDER:

COMPANHIA ENERGETICA DE MINAS
GERAIS — CEMIG:

 

	
   

  	
   

  	
   

  	
   

  
	
   

  	
  DJALMA BASTOS DE MORAIS

  Chief Executive Officer

  	
   

  	
  FERNANO HENRIQUE SCHÜFFNER NETO

  Chief Distribution and Sales
  Officer

  

 

WITNESSES:

 

	
   

  	
   

  	
   

  
	
  Name: Gilberto Gomes Lacerda

  CPF: 609 892 386-87

  	
   

  	
  Name: [Stamp:]
  Jandir Amorim Nascimento

  CPF:                 
  057 353.601-59

  

 

 

NATIONAL ELECTRICITY AGENCY —
ANEEL

 

 

THIRD AMENDMENT

 

CONCESSION CONTRACT FOR PROVISION

 

OF PUBLIC ELECTRICITY

 

DISTRIBUTION SERVICE NO.
005/1997-DNAEE

 

 

CEMIG DISTRIBUTION S.A.

 

WESTERN AREA

 

 

NATIONAL ELECTRICITY AGENCY — ANEEL

 

PROCESS NO. 48500.006111/2007-08

 

THIRD
AMENDMENT TO ELECTRICITY DISTRIBUTION CONCESSION CONTRACT NO. 005/1997-DNAEE —
WESTERN AREA, SIGNED BETWEEN THE NATION OF BRAZIL AND CEMIG DISTRIBUTION S.A.

 

THE NATION OF BRAZIL, hereinafter referred to as the
Concession-Granting Power, in exercise of the function conferred upon it by Article 21,
Sub-item XXII, sub-item “b”, of the Federal Constitution, through the NATIONAL ELECTRICITY AGENCY — ANEEL as intermediary, in accordance with the
provisions of Sub-item IV, Article 3 of Law 9427 of December 26,
1996, a special-regime autonomous authority, with head office at SGAN, Quadra
603, Modulo “I”, Brasília, Federal District, registered in the CNPJ/MF under No. 02.270.669/0001-29,
represented by its Director-General, NELSON JOSÉ HÜBNER MOREIRA, bearer of
Identity Card CREA3.818/D-CREA/DF and CPF 443.875.207-87, under Sub-item V, Article X,
Appendix I — Regulations Structure, approved by Decree 2335 of October 6,
1997, supported by Decree 4932 of December 23, 2003, hereinafter referred
to as ANEEL, and CEMIG
DISTRIBUTION S.A.,
with head office in the city of Belo Horizonte, Minas Gerais State, at Avenida
Barbacena 1200, Bairro Santo Agostinho, registered in the CNPJ/MF under No. 06.981.180/0001-16,
represented in accordance with its Bylaws by its Chief Executive Officer DJALMA
BASTOS DE MORAIS, bearer of Identity Card RG number 1G 911214 — Army Ministry
and CPF/MF No. 006.633.526-49, and by its Chief Distribution and Sales
Officer FERNANDO HENRIQUE SCHÜFFNER NETO, bearer of Identity Card RG M 1.311.632-SSP/MG
and CPF/MF No. 320.008.396-49, as holder of an electricity distribution
concession, hereinafter referred to as the CONCESSION
HOLDER, with COMPANHIA ENERGETICA DE MINAS GERAIS — CEMIG, hereinafter referred to as the CONTROLLING SCHÜFFNERHOLDER, as CONSENTING
PARTY, herein
represented by its Chief Executive Officer DJALMA BASTOS DE MORAIS, bearer of
Identity Card RG 1G 911214 — Army Ministry and CPF/MF 006.633.526-49, and by
its Chief Distribution and Sales Officer FERNANDO HENRIQUE SCHÜFFNER NETO,
bearer of Identity Card RG M 1.311.632-SSP/MG and CPF/MF 320.008.396-49, by
this instrument and in the best form of law, decide to sign the THIRD AMENDMENT TO ELECTRICITY DISTRIBUTION
CONCESSION CONTRACT NO. 005/1997-DNAEE — Western Area, signed on July 10, 1997, in
accordance with the conditions and clauses below:

 

 

CLAUSE ONE — OBJECT

 

The object of this Amendment is to alter the
procedures of calculation of the annual tariff adjustments, with a view to
neutrality of the Sector Charges of “Portion A” of the Concession Holder’s
Annual Revenue, in accordance with the changes made in the drafting of Clause
Seven of Electricity Distribution Concession Contract No. 005/1997-DNAEE —
Western Area specified in Clause Two of this Amendment.

 

CLAUSE TWO — TARIFFS APPLICABLE FOR PROVISION OF
THE SERVICE

 

Clause Seven — Tariffs applicable for procession
of the services —
of Electricity Distribution Concession Contract
005/1997-DNAEE — Western Area, signed on July 10, 1997, shall now have the
following drafting:

 

“CLAUSE SEVEN — TARIFFS
APPLICABLE TO PROVISION OF THE SERVICE

 

“For
the provisions of the electricity distribution public service that is conceded
by this Contract, the CONCESSION HOLDER shall charge the tariffs homologated by
ANEEL.

 

Sub-clause One -

 

Sub-clause Two -

 

Sub-clause Three -
                                     :

I
- 

II
- 

 

Sub-clause Four -

 

Sub-clause Five —
For the purposes of tariff adjustment, the revenue of the CONCESSION HOLDER
shall be divided into two portions:

 

Portion
A: that portion of the revenue that corresponds to the following costs:

 

(i) Purchase
of electricity as a function of the “Reference Market”, which includes the
amount of electricity arising from the Company’s own distributed generation
undertakings;

 

(ii) Connection to and use of the electricity
transmission and distribution facilities; and

 

(iii) Sector
Charges: Global Reversion Reserve — RGR; Fuel Consumption Account — CCC;
Electricity Services Inspection Charge — TFSEE; Contribution to the National
Electricity System Operator — ONS; Royalties for Use of Water Resources — CFURH
for the purpose of electricity generation, when applicable; System Services
Charge — ESS;

 

 

Energy
Development Account — CDE; Program to Encourage Alternative Electricity Sources
— PROINFA; Research and Development — P&D; Energy Efficiency Program — PEE;
Reserve Energy Charge — EER;

 

Portion
B: 

 

Sub-clause six —
The tariffs homologated on the “Prior Reference Date” shall be adjusted so as
to recover the revenue of the CONCESSION HOLDER arising from application of the
average Tariff Adjustment Index (IRT), defined as follows:

 

	
  IRT = 

  	
   VPA1 + VPB0 x (IVI ±
  X)

   

  	
   

  
	
   

   RA0

  	
   

  

 

where:

 

RA:
                                     ;

 

Annual
revenue from wholesale supply:                          ;

 

Annual
revenue from retail supply:                          ;

 

Annual
revenue from use of the distribution systems:                         ;

 

Reference
Market:                          ;

 

Period
of reference:                          ;

 

IVI:                          ;

 

X:                          ;

 

Electricity
losses in the Distribution System:                          ;

 

Electricity
bought:                                      ;

 

 

VPA0: Value of “Portion A” considering the conditions in effect on the “Prior
Reference Date” and the “Reference Market”, calculated as follows:

 

(i) For
the electricity bought: the amount of Electricity Bought valued at the average
pass-through price that was considered in the adjustment or in the previous
adjustment;

 

(ii) For
the connection to the transmission and/or distribution systems, the amounts
considered in the previous adjustment or review, and, for the use of the
transmission and/or distribution systems, the amounts of power demand
contracted in the period of reference, valued at the respective tariffs
considered in the adjustment or in the previous adjustment; and

 

(iii) For
the other items of “Portion A”: amounts resulting from application of the
tariff components corresponding to the respective items, in effect on the “Prior
Reference Date”, to the “Reference Market”.

 

VPB0: Value of “Portion B” considering the conditions in effect on the “Prior
Reference Date” and the “Reference Market” calculated as follows:

 

VPB0 = RA0 - VPA0

 

VPA1: 

 

(i)                                        ;

 

(ii)                                       ;

 

(iii)                                       ;
and

 

(iv) 

 

Sub-clause Seven -                                       .

 

Sub-clause
eight -                                       .

 

Sub-clause
Nine -                                       .

 

Sub-clause
Ten -                                       .

 

 

Sub-clause
Eleven - 

 

Sub-clause
Twelve - 

 

Sub-clause
Thirteen - 

 

Sub-clause
Fourteen - 

 

Sub-clause
Fifteen - 

 

Sub-clause
Sixteen - 

 

Sub-clause
Seventeen - 

 

Sub-clause Eighteen — It shall be guaranteed to the CONCESSION HOLDER,
in the processes of tariff review and adjustment, that the Sector Charges of “Portion
A” shall be neutral in relation to such variation in the market as takes place
from February 2010 corresponding to the following costs:

 

Global
Reversion Reserve — RGR; Fuel Consumption Account — CCC; Energy Development
Account — CDE; Program to Encourage Alternative Electricity Sources — PROINFA;
System Services Charge — ESS; Reserve Energy Charge — EER; Electricity Services
Inspection Charge — TFSEE; contribution to the National Electricity System
Operator — ONS; and Royalties for Use of Water Resources — CFURH, calculated on the basis of the monthly
differences found between the amounts of each item invoiced in the period of
reference and the respective amounts considered in the previous tariff
adjustment or review, duly remunerated on the basis of the same index used in
the calculation of the balance of the Account for Compensation of Variation in
Values of “Portion A” Items — CVA.

 

CLAUSE THREE — RATIFYING PROVISIONS

 

All the other clauses and conditions of Electricity
Distribution Concession Contract No. 005/1997-DNAEE — Western Area are
ratified, and those not expressly modified by this Amendment remain valid and
unchanged.

 

CLAUSE FOUR — GENERAL PROVISIONS

 

The changes made in this amendment shall be
implemented as from the first tariff adjustment or review carried out in 2010,
with effects as from February 2010, the effects of the discipline
previously in force being preserved in their entirety.

 

 

Being thus agreed, the parties have caused this
instrument to be written in 4 (four) copies of equal content and form, and they
are signed by the representatives of ANEEL, and of the CONCESSION HOLDER,
together with the witnesses identified below, for it to produce the due legal
effects.

 

Brasília,
Federal District, April 13,
2010.

 

BY ANEEL:

 

	
   

  	
   

  	
   

  
	
   

  	
  NELSON JOSÉ HÜBNER MOREIRA

   Director-General

  	
   

  

 

BY CEMIG DISTRIBUTION S.A.:

 

	
   

  	
   

  	
   

  	
   

  
	
   

  	
  DJALMA BASTOS DE MORAIS

  Chief
  Executive Officer

  	
   

  	
  FERNANO HENRIQUE SCHÜFFNER NETO

  Chief
  Distribution and Sales Officer

  

 

BY THE CONTROLLING STOCKHOLDER:

COMPANHIA ENERGETICA DE MINAS
GERAIS — CEMIG:

 

	
   

  	
   

  	
   

  	
   

  
	
   

  	
  DJALMA BASTOS DE MORAIS

  Chief
  Executive Officer

  	
   

  	
  FERNANO HENRIQUE SCHÜFFNER NETO

  Chief
  Distribution and Sales Officer

  

 

WITNESSES:

 

	
   

  	
   

  	
   

  
	
  Name:
  Gilberto Gomes Lacerda

  CPF: 609 892 386-87

  	
   

  	
  Name: [Stamp:]  Jandir Amorim Nascimento

  CPF:                   057 353.601-59Exhibit 4.18

 

English Summary of Share Purchase Agreement between Companhia
Energética de Minas Gerais — CEMIG and Andrade Gutierrez Concessões S.A.

 

On
December 30, 2009, Companhia Energética de Minas Gerais — CEMIG (“CEMIG”)
entered into a share purchase agreement (the “AGC Share Purchase Agreement”)
with Andrade Gutierrez Concessões S.A. (“AGC”).

 

The
AGC Share Purchase Agreement was entered into in connection with the
acquisition of 26,576,149 common shares of Light S.A. (“Light”),
representing approximately 13.03% of the voting and total capital of
Light, of which 25,494,500 shares were acquired on March 25, 2010
and 1,081,649 shares are to be acquired by September 21, 2010.

 

The
total price of this acquisition, corresponding to 13.03% of the total capital
of Light, is R$785,000,000.00, equivalent to approximately R$29.54 per common
share. This amount will be updated by the CDI (Interbank CD) rate published by
Cetip (Securities Custody and Settlement Center), from December 1, 2009 up
to the date of payment, after deduction of any dividends and interest on equity
paid or declared by Light in this period. R$718,518,134.39 (adjusted as
described above), corresponding to 12.50% of the total capital of Light,
was paid on March 25, 2010 and R$31,949,492.20 (to be adjusted as
described above), corresponding to 0.53% of the total capital of Light, is
to be paid by September 21, 2010.

 

The
AGC Share Purchase Agreement allows for assignment of the shares acquired to an
affiliate of CEMIG or to third parties.

 

The
AGC Share Purchase Agreement contains representations and warranties and
covenants of CEMIG and AGC and various conditions to closing.

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00175-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00175-of-00352.parquet"}]]