6-K

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): ☐

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): ☐

Indicate by check mark whether by furnishing the information contained in this Form, the registrant is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.

If “Yes” is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b): N/A

This report contains statements about expected future events and financial results that are forward-looking and subject to risks and uncertainties. Actual results could differ materially from those predicted in such forward-looking statements. Factors which may cause actual results to differ materially from those discussed herein include those risk factors set forth in our most recent Annual Report on Form 20-F filed with the Securities and Exchange Commission. CEMIG undertakes no obligation to revise these forward-looking statements to reflect events or circumstances after the date hereof, and claims the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995.

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.


COMPANHIA ENERGÉTICA DE MINAS GERAIS – CEMIG
By:		/s/ Maurício Fernandes Leonardo Júnior
		Name: Maurício Fernandes Leonardo Júnior Title: Chief Finance and Investor Relations Officer

MARKET ANNOUNCEMENT DATED JULY 12, 2018: REPLY TO B3 INQUIRY LETTER 1441/2018-SAE OF JULY, OF JULY 11, 2018

A news report in the newspaper Valor Econômico of July 11, 2018, under the headline:

We request information/explanations on the items indicated, by July 12, 2018, including your confirmation of them or otherwise, and also any other information that is considered to be important.

In response to Official Letter 1441/2018-SAE, of July 11, 2018, we inform you that Companhia Energética de Minas Gerais – Cemig (‘Cemig’ or ‘the Company’) is permanently assessing alternatives for improvement of its capital structure, lengthening of its debt profile and reduction of the cost of its debt.

Consequently the Company, in the normal course of its business, is continuously consulting financial institutions and investors, in Brazil and the rest of the world, as to the conditions on which they would open credit lines for financing of the Company’s business.

In the case referred to, financing in the external market through issue of Eurobonds is one possible alternative. As an example, in December 2017 Cemig Geração e Transmissão S.A. (‘Cemig GT’), a wholly-owned subsidiary of Cemig, placed an issue of US$1 billion, and in that issue the indicative demand was US$3.7 billion. Thus, it was natural to suppose that a further issue in this market would be a viable financing option, in addition to the alternatives available in the local market.

It is appropriate to highlight the characteristics of this type of transaction, in which, initially, the Company prospects qualified investors on potential interest in financing it. Once interest has been identified, the Company may opt to indicate a price level for the transaction, with the objective of quantifying the potential volume of a transaction. If the volume, at the indicated price level, indicates the possibility of success for the transaction the company may opt to begin a process of bookbuilding, culminating in pricing of an issue.

At the same time, when accessing the external debt market it is essential to obey the regulation and practices specific to this market, avoiding broad disclosure by the Company prior to the pricing, due to the risk that this could have adverse effects on the success of the transaction.

In line with this, yesterday the Company carried out an initial monitoring, but without this meaning that the transaction, at that moment, was feasible. It was only today that Cemig priced the re-opening of the Eurobond issue, in the amount of US$500 million, and, naturally, published a Material Announcement with the related information.

In relation to the media report referred to, in the interests of success of the transaction, and consequently, in the interests of the Company and its stakeholders, no statement of any kind was made prior to the pricing, in accordance, we would note, with the regulation and specific practices of this market, to avoid adverse risks for the transaction.

Cemig takes this opportunity to reiterate its commitment to transparency and best market practices in communication with the market.

MATERIAL ANNOUNCEMENT DATED JULY 17, 2018: RENOVA DEALING WITH FURTHER OFFERS AFTER END OF BROOKFIELD NEGOTIATION

In accordance with CVM Instruction 358 of January 3, 2002 as amended, Cemig (Companhia Energética de Minas Gerais – listed and traded on the stock exchanges of São Paulo, New York and Madrid), hereby reports to the Brazilian Securities Commission (CVM), the São Paulo Stock Exchange (BM&F Bovespa S.A.) and the market that on today’s date its affiliated company Renova Energia S.A. published the following Material Announcement:

Renova also reports that it has received non-binding offers for acquisition of this asset from several investors, and that these are in the process of due diligence.

Renova reaffirms its commitment to keep stockholders and the market duly and opportunely informed in accordance with the applicable legislation. ”

MATERIAL ANNOUNCEMENT DATED JULY 18, 2018: SETTLEMENT OF ADDITIONAL EUROBOND TRANCHE

In continuation of the Material Announcement published on December 7, 2018 and in compliance with CVM Instruction 358 of January 3, 2002 as amended, Cemig (Companhia Energética de Minas Gerais – listed on the stock exchanges of São Paulo, New York and Madrid), hereby reports to the Brazilian Securities Commission (CVM), the São Paulo Stock Exchange (B3) and the market as follows:

Today (July 18) Cemig’s wholly-owned subsidiary Cemig Geração e Transmissão S.A. (‘Cemig GT’) completed financial settlement of the additional tranche of Eurobonds arising from re-opening of the initial issue made on December 5, 2017.

The additional tranche, for US$500 million, with settlement of principal in December 2024, with six-monthly interest, was priced on July 12, 2018 at yield of 9.14% p.a.

A hedge transaction was concomitantly contracted, for the whole period of the issue, comprising:

This rate is significantly more advantageous than the cost of the original issue, which was for a rate equivalent to 150% of the CDI rate.

The net proceeds will be allocated to payment of debts with shorter maturities and higher average cost, resulting in lengthening of the debt profile and reduction of the Company’s financial expenses.

MINUTES OF THE EXTRAORDINARY GENERAL MEETING OF STOCKHOLDERS HELD ON JULY 23, 2018

On the twenty third day of July of the year two thousand and eighteen at 11 a.m., at Avenida Barbacena 1,219, 23rd Floor, B Wing, Santo Agostinho, Belo Horizonte, Minas Gerais, Brazil, stockholders representing more than two-thirds of the voting stock of Companhia Energética de Minas Gerais – Cemig met in Extraordinary General Meeting, on first convocation, as verified in the Stockholders’ Attendance Book, where all placed their signatures and made the required statements.

The stockholder The State of Minas Gerais was represented by the State Attorney Mr. Wallace Alves dos Santos, for the Office of the General Attorney of the State of Minas Gerais, in accordance with the current legislation.

Initially, Mr. Carlos Henrique Cordeiro Finholdt, a stockholder and on behalf of Cemig’s Corporate Executive Office, stated that there was a quorum for an Extraordinary General Meeting of Stockholders; and that the stockholders present should choose the Chair of this Meeting, in accordance with Clause 11 of the Company’s by-laws.

Asking for the floor, the representative of the stockholder The State of Minas Gerais put forward the name of Neila Maria Barreto Leal, representative of the stockholder Bernardo Afonso Salomão de Alvarenga, to chair the meeting.

The proposal of the representative of the stockholder The State of Minas Gerais was put to debate, and subsequently to the vote, and approved unanimously, that is to say by 389,348,730 votes.

The Chair then declared the meeting open and invited me, Carlos Henrique Cordeiro Finholdt, for Cemig’s Corporate Executive Office, to be secretary of the meeting, and asked me to read the convocation notice, which was published, on June 21, 22 and 23, 2018 in the publications: Minas Gerais, official journal of the Powers of the State, on pages 25, 33 and 23 respectively; and in the newspaper O Tempo, on pages 13, 25 and 21, respectively, the content of which is as follows:

Stockholders are hereby called to an Extraordinary General Meeting of Stockholders to be held on July 23, 2018 at 10 a.m., at the company’s head office, Av. Barbacena 1219, 23^rd floor, Belo Horizonte, Minas Gerais, Brazil, to decide on:

Stockholders may opt to exercise their right to vote through the remote voting system, in accordance with CVM Instruction 481/2009, by sending the related Remote Voting Form via their custody agent, or the mandated bank, or directly to the Company.

Any stockholder who wishes to be represented by proxy at the said General Meeting of Stockholders should obey the precepts of Article 126 of Law 6406 of 1976, as amended, and of §2 of Article 10 of Clause 10 of the by-laws, by exhibiting at the time, or previously depositing at the Company’s head office, preferably by July 19, 2018, the proof of ownership of the shares, issued by the depositary financial institution, an identity document, and a power of attorney with specific powers, at Cemig’s Corporate Executive Office (Superintendência da Secretaria Geral) at Av. Barbacena 1219 – 23^rd Floor, Belo Horizonte, Minas Gerais, Brazil.

Belo Horizonte, June 19, 2018 Adézio de Almeida Lima – Chair of the Board of Directors ”

The representative of the stockholder The State of Minas Gerais stated that the Office of the General Attorney of the State, as formal representative of the controlling stockholder, would make a statement of position to this Meeting in the terms of Official Letter OF 0079/2018, of May 16, 2018.

In accordance with CVM Instruction 481/2009, the Chair then asked the Secretary to read the spreadsheet of summary consolidated voting, recording the votes given by Remote Voting Forms, published to the Market on July 20 of this year, which will be at the disposal of stockholders for any consultation.

The Chair then stated that an Extraordinary General Meeting of Stockholders had been held on July 11, 2018, at which, due to approval of the Company’s new by-laws, to adapt to Federal Law 13,303 of June 30, 2016 and Minas Gerais State Decree 47154 of February 20, 2017, the members of the Audit Board nominated by the holders of preferred shares were elected; and at that meeting it was not possible for the majority stockholder to nominate members for the Audit Board.

The representative of The State of Minas Gerais then put forward the following nominations for membership of the Audit Board:

Asking for the floor, the representative of the stockholder BNDES Participações S.A. (BNDESPar), although not being part of the group voting on this occasion, stated the understanding that obedience to the prohibitions in Article 17 of the State Companies Law for nominations to an Audit Board, independently of the legal dispute on whether they are mandatory, are the best corporate governance practice for formation of the Audit Board, in that they ensure a higher level of professionalism, and recommended that all the Company’s stockholders should adopt them in their nominations.

It was also the understanding of BNDESPar that, in spite of the juridical support for this election and for the nominations made for it, considering the transitory nature of the court decision, given as it was in an interim remedy and already subject to contestation, it would be prudent for the controlling stockholder of the Company to aim for a composition of the Audit Board in line with the view taken by the CVM in Case 19957.004466/2018-41, to avoid any later need for re-composition of that Board, even before the end of the current period of office, which would harm the continuity of its work. BNDESPar also alerted the meeting that the other requirements and prohibitions in the State Companies Law should be complied with, including the need for one of the nominees to be a government employee with a permanent link to the public administration.

The representative of the stockholder The State of Minas Gerais then reported that the Judiciary of Minas Gerais State had granted a request for urgent relief in the following terms:

The nominations of the representative of the stockholder The State of Minas Gerais were put to debate, and to the vote, and approved by a majority of votes, as follows:

The Audit Board members elected declared – in advance – that they are not subject to any prohibition on exercise of commercial activity, that they are not subject to any of the prohibitions in Law 6404/1976 or Law 13303/2016, nor in Minas Gerais State Decree 47154/2017, and that they comply with the criteria and requirements of the applicable legislation and regulations; they made a solemn commitment to become aware of, obey and comply with the principles, ethical values and rules established by the Code of Professional Conduct of Companhia Energética de Minas Gerais – Cemig, and the Code of Ethical Conduct of Government Workers and Senior Administration of the State of Minas Gerais.

The Chair stated that, subject to swearing-in of the new members of the Audit Board being conditional upon presentation of the declaration statements contained in the applicable federal and state legislation, the composition of the Audit Board is now as follows:

The meeting being opened to the floor, since no-one else wished to speak, the Chair ordered the meeting suspend for the time necessary for writing of the minutes.

The session being reopened, the Chair put the said minutes to debate and to the vote, and they were approved unanimously, that is to say, by 389,348,730 votes; verifying that they had been signed, she closed the meeting.

For the record, I, Carlos Henrique Cordeiro Finholdt, Secretary, wrote these minutes and sign them, together with all those present.

MARKET NOTICE DATED JULY 26, 2018: REPLY TO CVM INQUIRY LETTER 289/2018/CVM/SEP/GEA-1

According to one source, Cemig needs approximately R$ 600 million to pay the option. There is R$ 100 million deposited in a guarantee account, which remained from the proceeds of the sale of part of the control stockholding in the transmission company Taesa. The idea is to rely on the sale of Cemig Telecom to finance the rest.

The minimum price established for the assets of Cemig Telecom, which will be auctioned on August 8, is R$ 367 million. Since there are many bidders interested in the company, Cemig’s expectation is that the transaction will be made for a premium over the minimum price. According to Cemig, there are 17 investors interested.

Valor has found that they include Brazil’s principal telephone network operators, mobile telephone tower companies, investment funds, and foreign companies, such as Sterlite Power Grid of India.

Even resolving the problem relating to the put option, Cemig will still need to avoid allowing Light to become a majority-state-controlled company. With settlement of the put option, its interest will increase from 43% to 52% of Light, which could cause early maturity of debts due to covenants in financing contracts.

A possible problem involves the situation of Renova Energia, controlled by Cemig and by Light. As well as its net debt of R$ 1.3 billion, while generating extremely low cash flow, Renova needs funds to complete the works on the Alto Sertão III wind complex, which are behind schedule.

Valor has found that between R$ 300 and R$ 400 million is still needed to complete the project. Further to this, there is R$ 200 million in debts to suppliers that need to be settled. With the present debt, and the problems resulting from the works being behind schedule, such as the exposure to the electricity spot market, these costs could make the return on the project unfeasible.”

Cemig believes that transparency and accountability are not only legally imposed duties but indispensable prerequisites for efficient management.

For this reason, aiming to keep investors duly informed, Cemig has published Material Announcements, on June 1, 2017 and July 7, 2017, announcing and updating its program of disinvestment which, among other aims, seeks to enhance the Company’s financial equilibrium, through accelerated reduction of its net indebtedness.

Cemig reiterates that the assets referred to in the article published by the newspaper Valor Econômico are part of the said disinvestment program, and that it has been keeping the market and other interested parties updated on the processes of sale of those assets.

As of today’s date, there is no new information which, under CVM Instruction 358/2002, would justify publication of a further Material Announced on any of these subjects.

Finally, Cemig encourages the communications media, for the benefit of its readers, always to state its sources, and once again re-emphasizes that it is available for verification of information.

Cemig (Companhia Energética de Minas Gerais) – listed and traded on the stock exchanges of São Paulo, New York and Madrid – hereby informs the CVM (the Brazilian Securities Commission (CVM), the São Paulo stock Exchange (B3) and the market as follows:

On July 27, 2018 Cemig’s wholly-owned subsidiary Cemig Geração e Transmissão S.A. (‘Cemig GT’), following the re-opening of its Eurobond issue, made early payment of R$ 385 million, or 25vs% of the total nominal balance, of its 7^th Debenture Issue, the cost of which was 140% of the CDI rate, and which had original maturity date on December 23, 2021.

Cemig believes this once again demonstrates its commitment to reducing financial expenses and lengthening its debt profile, improving profitability and enhancing its credit quality.

Cemig (Companhia Energética de Minas Gerais – listed, with securities traded on the stock exchanges of São Paulo, New York and Madrid), as per CVM Instruction 358 of January 3, 2002, as amended, hereby reports to the Brazilian Securities Commission (CVM), the São Paulo Stock Exchange (BM&F Bovespa S.A.) and the market as follows:

Today Cemig held the Public Auction for sale of its telecommunications assets not within scope of primary use, as specified in Tender Announcement 500-Y12121.

The winning bidders were qualified during the session. Cemig will declare the winners after expiration of the period for appeals. After signature of the Asset Sale Agreements, conclusion of the transaction will depend on compliance with suspensive conditions stated in the Tender Announcement, including approval by the Brazilian competition authority, CADE (Conselho Administrativo de Defesa Econômica), if applicable.

The minutes of the public auction session are available on Cemig’s Electronic Procurement Site (http://compras.cemig.com.br/).

Cemig reiterates its commitment to keep stockholders and the market timely informed in accordance with the applicable law and regulations.

LIGHT IS EVALUATING THE POSSIBILITY OF RAISING FUNDS THROUGH A PUBLIC OFFERING

Light is Evaluating the Possibility of Raising Funds through a Public Offering

Cemig (Companhia Energética de Minas Gerais – listed in São Paulo, New York and Madrid), in compliance with CVM Instruction 358 of January 3, 2002 as amended, hereby reports to the Brazilian Securities Commission (CVM), the São Paulo Stock Exchange (B3) and the market as follows:

Cemig’s affiliated company, Light S.A. (‘Light’) has today published the following Material Announcement:

The Memorandum is a preliminary and non-binding document, which only establishes indicative terms and conditions in case the Offering, in fact, occurs. However, the Company emphasizes that the effective pursuit of the Offering and the proposed anchoring by the Investors are subject to several factors and conditions, amongst others, market conditions, and there is no guarantee that neither will occur or under which terms and condition. As of this date, there is no definitive guarantee as to the performance of the Offering, as well as its structure and volume. Any future offering of shares will be conducted in accordance with the applicable regulations and legislation.

The Company will keep the Market informed of any development or deliberations regarding the potential Offering and the potential transaction proposed by the Investors, with due regard to the restrictions contained in CVM rules and other applicable legislation.”

Cemig (Companhia Energética de Minas Gerais) hereby notifies stockholders that the Extraordinary General Meeting of Stockholders called for September 18, 2018, as decided by the Board Meeting of August 10, 2018, has been postponed to a later date, to be decided by the Board of Directors.

MATERIAL ANNOUNCEMENT DATED AUGUST 24, 2018: CONTRACTS FOR SALE OF TELECOM ASSETS SIGNED

Complementing its Material Announcement of August 8, 2018, and in accordance with CVM Instruction 358 of January 3, 2002, as amended, Cemig (Companhia Energética de Minas Gerais - listed and traded on the stock exchanges of São Paulo, New York and Madrid), hereby reports to the Brazilian Securities Commission (CVM), the São Paulo Stock Exchange (B3) and the market as follows:

for: - sale of telecommunications assets not within Cemig’s scope of primary use; and

- assignment of contractual positions in the contracts associated with those assets.

Conclusion of these transactions is subject to suspensive conditions stated in the Tender Announcement, including approval by the Brazilian Monopolies Authority, CADE.

Cemig reiterates its commitment to keep stockholders and the market timely informed in accordance with the applicable law and regulations.

MATERIAL ANNOUNCEMENT DATED AUGUST 31, 2018: REIMBURSEMENT FOR SÃO SIMÃO AND MIRANDA PLANTS RECEIVED

Cemig (Companhia Energética de Minas Gerais – listed in São Paulo, New York and Madrid), in compliance with CVM Instruction 358 of January 3, 2002 as amended, hereby reports to the Brazilian Securities Commission (CVM), the São Paulo Stock Exchange (B3) and the market as follows:

Today (Aug. 31, 2018) Cemig’s wholly-owned subsidiary Cemig Geração e Transmissão S.A. (‘Cemig GT’) received the amounts of reimbursement relating to the assets not previously amortized or depreciated in the basic plans of the São Simão and Miranda hydroelectric plants, as specified in Mining and Energy Ministry Ministerial Order 291/2017.

MARKET NOTICE DATED SEPTEMBER 4, 2018: CEMIG AWARDED ANEFAC TRANSPARENCY TROPHY

Cemig (Companhia Energética de Minas Gerais – listed with securities traded on the stock exchanges of São Paulo, New York and Madrid) hereby informs the CVM (the Brazilian Securities Commission), the São Paulo Stock Exchange (B3) and the public as follows:

Cemig has once again been awarded the Anefac Transparency Trophy – the award created in 1997 to encourage transparency in Brazilian companies’ financial reporting.

Cemig’s award, in the category Listed companies with billing over R$ 5 billion, reflects the clarity of its financial statements and the quality of the information published.

The winning companies were chosen by master’s degree and doctorate students of FEA/Fipecafi after analysis of the financial statements of more than two thousand companies.

Disclaimer
Certain statements and estimates in this material may represent expectations about future events or results, which are subject to risks and uncertainties, which may be known or unknown. There is no guarantee that the events or results will take place as referred to in these expectations.
These expectations are based on the present assumptions and analyses from the point of view of our management, in accordance with their experience and other factors such as the macroeconomic environment, and market conditions in the electricity sector; and on our expectations for future results, many of which are not under our control.
Important factors that could lead to significant differences between actual results and the projections about future events or results include our business strategy, Brazilian and international economic conditions, technology, our financial strategy, changes in the electricity sector, hydrological conditions, conditions in the financial and energy markets, uncertainty on our results from future operations, plans and objectives, and other factors. Because of these and other factors, our real results may differ significantly from those indicated in or implied by such statements.
The information and opinions herein should not be understood as a recommendation to potential investors, and no investment decision should be based on the veracity, currentness or completeness of this information or these opinions. None of our professionals nor any of their related parties or representatives shall have any liability for any losses that may result from the use of the content of this presentation.
To evaluate the risks and uncertainties as they relate to Cemig, and to obtain additional information about factors that could give rise to different results from those estimated by Cemig, please consult the section on Risk Factors included in the Reference Form filed with the Brazilian Securities Commission – CVM – and in the 20-F form filed with the U.S. Securities and Exchange Commission – SEC.
In this material, financial amounts are in R$ million (R$ mn) unless otherwise stated.
Financial data reflect the adoption of IFRS.

Hightlights
Ebitda
R$810 million in 2Q18
Growth of 9.5% (2Q18/2Q17)
R$1,817 million
Reduction of 1.3%
(1H18/1H17)
PMSO
R$710 million
Reduction of R$177 million (2Q18/2Q17)
R$1,378 million
Reduction of 14.0%
(1H18/1H17)
Net profit
(adjusted)
R$236 million
Growth of 71% (2Q18/2Q17)
R$700 million
Increase of 45.5%
(1H18/1H17)
Telecom assets
R$649 million - Total amount
Premium of 76.8% on auction reserve price
Success in asset sale auction
Hedge on Eurobond issue
Accounting effect in net profit: R$296 million
Second tranche issued: US$500 million – July 2018

Telecom assets
On August 8, 2018 Cemig held its public auction of telecom assets
Winning bids
Presented by American Tower do Brasil
R$571 million, 70.41% above reserve price
Lot 1
Lot 2
Presented by Algar Soluções
R$77.9 million, 139.86% above reserve price
After signature of the sale agreements, conclusion of the transaction will depend on:
– compliance with suspensive conditions as stated in the tender announcement,
– including, if applicable, approval by the Brazilian competition authority, CADE.
Divestment

Accounting - Eurobonds
Net financial expenses: additional R$ 449 million
R$532 million – Expense (in R$) on FX variation with increase in USD exchange rate
R$83 million – Gain on financial instruments
Financial instruments adopted for protection of foreign currency-denominated debt
Protection of interest payments- Swap
The transaction replaces payment of interest charges at 9.25% in US dollars with 150.49% of the local CDI rate
Protection of the principal - Call Spread
Protection for variation in R$/US$ Exchange rate between floor of R$3.25 and ceiling of R$5.00
Within this band, the Company pays the floor amount, at maturity. If the ceiling is exceeded, at maturity the Company pays the floor level of R$3.25 plus the difference between the US$/R$ exchange rate and the ceiling level of R$5.00.
Fair value calculation:
The main variables used in the calculation of fair value of these hedge transactions are:
Expectations for future variations in the CDI rate and
the US dollar exchange rate.
Note:
– The net expense of R$449 million is non-cash: it is an accounting effect.
– Cash flow is protected from FX variation by the financial instruments contracted.
The foreign exchange variation expense not being offset, in the half-year, by the hedge instruments contracted, resulted in a net negative accounting effect for the transaction in this period – and was caused by expected future values for variation resulting from the CDI rate (as indicated by the domestic future interest rates curve) being higher than the figures indicated by the future curve for the R$/US$ exchange rate. This situation, which occurred basically in the months of May and June 2018, was due to the instability of the macroeconomic scenario.
Hedge

Cemig’s electricity market
Volume sold - (GWh)
2Q17 Residential Industrial Commercial Rural Others Wholesale 2Q18
Total energy billed Cemig D
Electricity transported
Consumption by captive market
Market Cemig GT
Free clients
ACL - Free contracts
Regulated Market

Cemig D Losses
Technical losses
Mar/17
Jun/17
Sep/17
Dec/17
Mar/18
Jun/18
Technical losses (GWh)
Technical Losses / Total Load (%)
Regulatory Losses (%)
Total losses
Total losses (GWh)
Total Losses / Total Load (%)
Regulatory Losses (%)

Consolidated operational expenses
Change in consolidated operational expenses– 2Q18/2Q17
PMSO
Personnel
Materials
Contracted Services
Others
Post-Retirement
Purchased Energy
Depreciation/ Amortization
Operating Provisions
“Charges for Use of Basic
Transmission Network”
Gas bought for resale
Others
-20.0%
2Q18/2Q17
-35.1%
2Q18/2Q17
1Q17
2Q17*
3Q17
4Q17
1Q18
2Q18*
* Expense on employees joining the voluntary retirement plan: R$26 million in 2Q18 and R$165 million in 2Q17

Ebitda consolidated
Growth of 9.5 % - 2Q18/2Q17
2Q17
Revennues
PMSO
Non- controling cost
Others
Loss on Equity
Telecom
Depreciation
2Q18
1H17
1H18
By Company
Cemig GT
Cemig D
Others
1ºQ
2ºQ

Net profit consolidated
Growth of 71% 2Q18/2Q17
1ºQ
2ºQ
Custos/Despesas
2Q17
Revennues
PMSO
Non-controling cost
Others
Loss on Equity
Financial results
Others
2Q18
Hedge adjustment
2Q18 Adjusted
1H17
1H18 Adjusted
Net profit Cemig GT
Net profit Cemig D
2Q17
1Q18
2Q18 Adjusted

Eurobonds
An additional tranche of the December 5, 2017 Eurobond issue was issued on July 18, 2018
Amount: US$500 million
Yield: 9.14% p.a.
Interest: Six-monthly
Maturity of principal: December 2024
Financial instruments adopted for protection of foreign currency-denominated debt in the additional tranche:
Protection of interest payments: Swap
The transaction replaces the payments of interest charges at 9.25% in US dollars with 125.52% of the local CDI rate.
Protection of the principal: Call Spread
Protection for variation in the USD exchange rate between: floor of R$3.85 and ceiling of R$5.00
Within this band, the Company pays the floor amount, at maturity. If the ceiling is exceeded, at maturity the Company pays the floor level plus the difference between the US$/R$ exchange rate and the ceiling level of R$5.00.
Retap

Cemig, consolidated: debt profile
Maturities timetable
Total net debt: R$13.3 billion
Average tenor: 3.9 years
Cemig GT: amortized R$ 533 million in Debentures and made early repayment of R$ 385 million, with proceeds of the second Eurobond tranche.
2018
2019
2020
2021
2022
2023
2024
After 2024
Maturities timetable – pós Retap
Consolidated debt (in R$ of July 2018) - including expectation of use of 2nd Eurobond tranche
Without change
Payment with Retap proceeds
Retap
Amortization
Cost of debt- %
2015
2016
jun/17
set/17
2017
mar/18
jun/18
Real Nominal
Main indexors
CDI
IPCA
DOLLAR
OTHER
Leverage

Covenant
Net debt/Ebitda
Eurobonds´ Covenant - (LTM – last twelve months)
Cemig H
Cemig GT
Reprofiling´s Covenant - (LTM – last twelve months)
Cemig D
2017
jun/18
2018
jun/19
2019
Limit Realized

Cash flow
Cash start of 2018
Profit 1H18
Expenses (revenues) not affecting cash
Interest aid on loans and financings
Supplies
Others
Capital increase
Loans and debentures
Cash investments
Investments
Cash end of 1H18
Securities
Cash
Operations
-R$9
Financing
-R$269
Investment
R$189
Total
1,293

CEMIG
Investor relations Tel.: +55 (31) 3506-5024
ri@cemig.com.br
http://ri.cemig.com.br
CMIG3
CMIG4
NÍVEL 1
BOVESPA BRASIL
CIG
LISTED
NYSE
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XCMIG
ISE 2018
Índice de Sustentabilidade Empresarial
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In Colaboration with RobecoSAM

CEMIG

2Q18 RESULTS

2Q18 EBITDA: R$ 810 MILLION

Main facts of 2Q18:

∎	Net financial expense of R$449 million from foreign Exchange variation on US-dollar due to the Eurobond issue, partially offset by gain on financial instruments- the adjustment to fair value of the swap transaction

∎	Equity earnings contribution from subsidiaries negative: R$ 83 million

∎	2Q18 results do not count on hydro plants auctioned in 2017

∎	Gain with operational efficiency

the PMSO decreased by 177 million – 20% lower (2Q18 / 2Q17)


Indicators – GWh:	2Q18			2Q17		Change%
Electricity sold (excluding CCEE)		14,076			13,540		3.96
Indicators – R$´000:	2Q18			2Q17		Change%
Sales on CCEE		25,639			198,529		(87.09	)
Gross revenue		8,207,936			7,788,240		5.39
Net revenue		5,533,199			5,205,029		6.30
Ebitda (IFRS)		810,143			739,642		9.53
Net profit		(60,370	)		138,114		—
Earnings per share – PN (preferred) shares		(0,04	)		0,11		—
Ebitda margin		14.64%			14.21%		0.43pp

This transmission on Cemig’s results will have simultaneous translation into English and can be seen in real time by Video Webcast, at http://ri.cemig.com.br or heard by conference call on:

Certain statements and estimates in this material may represent expectations about future events or results, which are subject to risks and uncertainties, which may be known or unknown. There is no guarantee that the events or results will take place as referred to in these expectations.

These expectations are based on the present assumptions and analyses from the point of view of our management, in accordance with their experience and other factors such as the macroeconomic environment, market conditions in the electricity sector, and expected future results, many of which are not under Cemig’s control.

Important factors that could lead to significant differences between actual results and the projections about future events or results include Cemig’s business strategy, Brazilian and international economic conditions, technology, Cemig’s financial strategy, changes in the electricity sector, hydrological conditions, conditions in the financial and energy markets, uncertainty on our results from future operations, plans and objectives, and other factors. Due to these and other factors, Cemig’s results may differ significantly from those indicated in or implied by such statements.

The information and opinions herein should not be understood as a recommendation to potential investors, and no investment decision should be based on the veracity, currentness or completeness of this information or these opinions. None of Cemig’s professionals nor any of their related parties or representatives shall have any liability for any losses that may result from use of the content of this material.

To evaluate the risks and uncertainties as they relate to Cemig, and to obtain additional information about factors that could give rise to different results from those estimated by Cemig, please consult the section on Risk Factors included in the Reference Form filed with the Brazilian Securities Commission (CVM) – and in the 20-F form filed with the U.S. Securities and Exchange Commission (SEC).

Trading volume in Cemig’s preferred shares (CMIG4) totaled R$ 10.12 billion in 2Q18, a daily average of R$ 82.26 million – this is 12.86% higher than in 2Q17. Average daily trading in the common (ON) shares was R$ 8.77 million. Cemig’s shares, by volume – in the aggregate of common (ON) and preferred (PN) shares – were the second most liquid in Brazil’s electricity sector in the period, and among the most traded in the whole Brazilian equity market.

On the New York Stock Exchange the volume traded in ADRs for Cemig’s preferred shares (CIG) in 2Q18 was US$1.04 billion. We see this as reflecting recognition by the investor market, and maintaining Cemig’s position as a global investment option.

The São Paulo stock exchange Ibovespa index fell 4.8% in the first half of 2018 (1H18), closing the half-year at 72,763 points. Cemig’s shares outperformed the principal Brazilian stock index and also the Brazilian electricity sector index: in 1H18 the common (ON) shares rose 3.4%, and the preferred (PN) shares rose 12.9%. The price of the ADRs for Cemig’s preferred shares, traded in New York, fell 4.6% in the period.

This table shows credit risk ratings and outlook for Cemig’s companies as provided by the principal rating agencies:

The results presented below are prepared in accordance with Brazilian accounting rules, which now embody harmonization to IFRS (International Financial Reporting Standards). They are expressed in thousands of Reais (R$ ’000), except where otherwise noted.

For the second quarter of 2018 (2Q18) Cemig reports a loss of R$ 60,370, which compares to net profit of R$ 138,114 in 2Q17.

This primarily reflected significant net non-operational expenses of R$ 449,088, comprising:

The Cemig Group sells electricity through: its distribution company, Cemig Distribuição (‘Cemig D’); its generation and transmission company, Cemig Geração e Transmissão (‘Cemig GT’); and its other wholly-owned subsidiaries – Horizontes Energia, Sá Carvalho, Cemig PCH, Rosal Energia, Cemig Geração Camargos, Cemig Geração Itutinga, Cemig Geração Salto Grande, Cemig Geração Três Marias, Cemig Geração Leste, Cemig Geração Oeste, and Cemig Geração Sul.

In 2Q18 the “Cemig Group” sold a total volume of 14,076,058 MWh, which was 3.96% less than in 2Q17.

Sales of electricity to final consumers in 2Q18, plus Cemig’s own consumption, totaled 11,101,488 MWh, or 3.81% more than in 2Q17.

Sales to distributors, traders, other generating companies and independent power producers in 2Q18 totaled 2,974,570 MWh – or 4.51% more than in 2Q17.

In June 2018 the “Cemig Group” invoiced 8,395,664 clients – a growth of 1.0% in the consumer base since June 2017. Of these, 8,395,283 were final consumers (including Cemig’s own consumption), and 381 were other agents in the Brazilian power industry.

The chart below itemizes the sales of the “Cemig Group” to final consumers in the year, by consumer category:

Electricity billed to captive clients by Cemig D and electricity transported for Free Clients and distributors with access to its network totaled 11,204,337 MWh in 2Q18, or 5.69% more than in 2Q17.

There are two components of this reduction: consumption by the captive market 0.3% higher YoY, and use of the network by Free Clients 13.7% higher YoY.

In June 2018 Cemig D billed 8,395,120 consumers, or 1.00% more consumers than in June 2017. Of this total, 1,068 were Free Consumers using the distribution network of Cemig D.

An important item is that the volume sold to industrial users was 4.07% lower, which was mainly due to three factors: (a) disconnections of consumer units; (b) migration of captive consumers to the Free Market; and (c) reduction of consumption due to the truck drivers’ strike, which took place at the end of May 2018. Also, volume sold to the commercial consumer category was 2.07% lower year-on-year, mainly due to migration of captive consumers to the Free Market.

At the same time, sales were higher year-on-year in three other categories: 2.47% higher in the residential consumer category – reflecting addition of new consumer units; 1.17% higher in public lighting; and 2.09% higher in supply to public services.

Cemig GT billed a total of 7,555,811 MWh in 2Q18, or 7.00% higher than in 2Q17.

The number of clients billed by Cemig GT in June 2018, at 1,284, was 9.6% higher than at the end of June 2017. Of these: 1,210 were industrial, commercial and rural clients, 46 were distribution companies, and 28 were companies in the category of traders, generators and independent power producers.

Free Clients in the industrial, commercial and rural consumer categories consumed 4,586,309 MWh in 2Q18, or 60.7% of the total volume of energy provided by Cemig GT, and 9.3% higher than in 2Q17.

Trading of electricity to other agents in the electricity sector in the Free Market totaled 2,339,728 MWh in 2Q18, 4.6% higher than in 2Q17.

Sales of energy in the Regulated Market, including those to Cemig D, totaled 629,774 MWh in 2Q18, or 0.1% higher than in 2Q17, due to differences of seasonalization of distributors’ contracts between the two periods and contractual reduction.

Cemig is continuously taking action to improve operational management, organization of the logistics of emergency services, and its permanent regime of inspections and preventive maintenance of substations, lines and distribution networks. It also invests in training of its staff for improved qualifications, state-of-the-art technologies, and standardization of work processes, aiming to uphold the quality of electricity supply, and as a result maintain the satisfaction of clients and consumers.

The charts below show Cemig’s indicators for duration and frequency of outages – DEC and FEC, since January 2016.

DEC – Average outage duration experienced by consumer – hours/consumer/month

Internal DEC – Average consumer outage duration due to factors internal to concession holder – hours/consumer/month

FEC – Average outage frequency experienced by consumer –outages/consumer/month

Internal FEC – Average outage frequency experienced by consumer due to factors internal to concession holder – outages/consumer/month

Total revenue from supply of electricity in 2Q18 was R$ 5,838,104, 0.65% higher than in 2Q17 (R$ 5,800,520).

Total revenue from electricity sold to final consumers, excluding Cemig’s own consumption, in 2Q18 was R$ 4,978,835, or 2.22% less than in 2Q17 (R$ 5,092,073). The main factors in this revenue were:

This is revenue from charging Free Consumers the Tariff for Use of the Distribution System (Tarifa de Uso do Sistema de Distribuição, or TUSD) on the volume of energy distributed. In 2Q18 this revenue was R$ 440,599, or 0.73% higher than in 2Q17 (R$ 437,427), with the following factors:

In its interim accounting information Cemig recognizes the difference between actual amounts of non-controllable costs (in which the CDE, and electricity bought for resale, are significant components) and the figures that were used as assumptions for these costs in calculating rates charged to consumers. The amount of this difference is passed through to clients in Cemig D’s next tariff adjustment – in 2Q18 this represented a revenue (gain) of R$ 627,893, whereas in 2Q17 it produced a reduction (expense) of R$ 29,294. The difference in this case is mainly due a higher difference, in 2018, between costs of energy and the coverage provided by the tariff, generating a financial asset to be reimbursed to the Company through the next tariff adjustment.

In 2Q18 this revenue was R$ 96,678, a reduction of 52.61% compared to 1Q17 (R$ 204,025). We highlight the amount of R$ 149,255 recorded for 2Q17, relating to the backdated difference of transmission concession assets the values of which were not included in the calculation basis for revenues in the previous tariff reviews. The Company reports the updating of the amount of indemnity receivable based on the average regulatory cost of capital, as specified in the sector regulations.

The remaining balance, of R$ 472,356 at June 30, 2018 (R$ 544,471 at December 31, 2017), was incorporated into the Remuneration Assets Base, and is being recovered via RAP.

In 2Q18 the Company recognized revenue of R$ 17,218 for the adjustment to the balance not yet amortized relating to the basic plans of the concessions for the São Simão and Miranda Hydroelectric Plants, to be indemnified as per Ministerial Order 291/17.

As from August 2013, there were expiry dates of the concessions for various plans operated by Cemig GT under Concession Contract 007/1997. As from the termination of the concession, Cemig GT held the right to indemnity of the assets not yet amortized, as specified in that concession contract. The accounting balances corresponding to these assets, including the Deemed Cost, are recognized in Financial assets. Their total at June 30, 2018 was R$ 816,411.

The amounts for the basic plan of these plants were transferred to the account Indemnities receivable, and are updated in monetary terms in accordance with Mining and Energy Ministry Order 291, of August 3, 2017, as shown below:

Revenue from power trading transactions in the Wholesale Trading Exchange (CCEE)

Revenue from transactions in electricity on the CCEE in 2Q18 was R$ 25,639, compared to R$ 198,529 in 2Q17 – a year-on-year reduction of 87.09%. The difference is due to the lower volume of electricity available for settlement in the wholesale market in 2018.

Cemig reports revenue from supply of gas 14.69% higher YoY in 2Q18, at R$ 470,908, compared to R$ 410,604 in 2Q17 – reflecting higher tariffs to consumers, in spite of a reduction in volume of consumption in reaction to these higher tariffs.

Gasmig began supplying gas to the residential market. In June 2018 it invoiced 36,416 households – compared to 22,536 in June 2017.

The total of these taxes and charges reported as deductions from revenue in 2Q18 was R$ 2,674,737 – an increase of 3.54% in relation to their total of R$ 2,583,211 in 2Q17.

Charges to the consumer arising from the ‘Flag Tariff’ system in 2Q18 were 93.48% lower year-on-year – at R$ 8,287 in 2Q18, in contrast to R$ 127,177 in 2Q17.

In the ‘Flag’ Tariff system, higher rates come into effect depending on the level of water in the country’s reservoirs: the ‘Red Flag’ imposes the highest extra tariff – and was in effect with the scarcity of rainfall in April and May 2017.

Operational costs and expenses totaled R$ 4,859,630 in 2Q18, or 3.28% higher than in 2Q17 (R$ 4,705,299).

The expense on electricity bought for resale in 2Q18 was R$ 2,818,905, or 6.40% more than in 2Q17 (R$ 2,649,330). The main factors in the higher figure are:

The expense on electricity bought for resale by Cemig D in 2Q18 was R$ 1,927,103, or 15.00% more than in 2Q17 (R$ 1,675,757). The main factor was the expense on supply bought at auction being 19.09% higher YoY, at R$ 764,807 in 2Q18, vs. R$ 642,185 in 2Q17. This in turn was mainly due to inclusion of the supply coming from MCSD (Excess/Deficit Compensation Mechanism) assignments for new-build projects, which resulted in the expense being R$ 127,780 higher than in 2Q17 – partially offset by lower volume in quantity and availability contracts (5,709,270 MWh in 2Q18 and 6,522,682 MWh no 2Q17).

Cemig GT’s expense on electricity bought for resale in 2Q18 was R$ 897,095, or 8.51% less than in 2Q17 (R$ 980,581). This reflects a volume of energy purchased 11.88% lower YoY in 2Q18 – at 4,726,875 MWh, vs. 5,364,064 MWh in 2Q17; partially offset by the effect of average price per MWh in 2Q18 being 3.82% higher YoY (at R$ 189.79 in 2Q18, vs. R$ 182.81 in 2Q17).

Operational provisions were 16.90% lower year-on-year in the quarter – at R$ 134,112 in 2Q18, compared to R$ 161,386 in 2Q17. The main fator is the reversal in employment-law contingencies, compensated by provisions with investment options as described bellow:

With the conjunction of several factors – the Brazilian macroeconomic context of lower economic activity, which created unemployment; the adverse hydrological situation; and the increase in tariffs, which had been held down – the debt owed by Cemig’s clients has grown to higher than average levels. The good news is that the efforts made by Cemig to counter default in 2017 resulted in the default index being reduced, and the Company has kept these indices under control in 2018.

To combat a record level of default in 2018 Cemig redoubled efforts to reduce customer arrears. An additional budget has been approved for efforts to recover the losses of revenue. Some results have already been achieved. Since December 2016 there has been no significant increase in the default percentages, showing that they are being kept under control. We expect to see a more consistent decline in the percentages from now on. Default in June 2018 was 3.42% lower than in June 2017.

The Company uses various tools of communication and collection to prevent increase in default. These include contact by telephone, email, collection requests by text and by letter, negative posting on credit registers, collection through the courts and, principally, disconnection of supply. Aneel Resolution 414 allows supply to be cut off after 15 days from receipt of a notice to the defaulting consumer.

As well as these various collection methods, in 2018 Cemig is structuring a new management model for the client relationship. Innovations will include making negotiation for settlement of arrears by installments available on line. The aim of the proposal is to provide a wide range of interactions with clients and facilitate access to means of negotiation and payment.

The expense on personnel in 2Q18 was R$ 348,576, or 34.96% lower than in 2Q17 (R$ 535,954). The lower figure, in spite of the 1.83% salary increase from November 2017 under the collective agreement, mainly reflects the much lower expense on the voluntary retirement program – 84.48% lower, at R$ 25,666, in 2Q18, than in 2Q17 (R$ 165,422 ).

In April 2018, 117 employees of Cemig Telecom were transferred to the Cemig holding company, in the part referred to as ‘supplementary staff’. As and when these employees are allocated to areas of Cemig D and Cemig GT, they will be transferred to each of those companies.

In 2Q18 the Company recorded an expense of R$ 293,225 on acquisition of gas, 11.64% more than its comparable expense of R$ 262,651 in 2Q17. This basically reflects the higher volume of gas bought for resale (454,622m³ in 2Q18, vs. 308,850m³ in 2Q17).

In 2Q18 Cemig posted a net loss by the equity method in unconsolidated investees of R$ 83,107, which compares with a net gain of R$ 30,477 in 2Q17. This mainly reflects negative equity method contributions from the interests in (a) Renova and (b) the Santo Antônio hydroelectric plant.

Cemig reported net financial expenses in 2Q18 of R$ 696,832, which compares with net financial expenses of R$ 341,554 in 2Q17. The main factors are:

The swap transaction substituted the issue’s interest rate of 9.25% p.a. in US dollars by 150.49% of the Brazilian domestic CDI rate. For the principal a hedge was contracted for US dollar exchange rates between a floor of R$ 3.25 and a ceiling of R$ 5.00 – in this case the floor value will be paid by the Company at maturity.

The net negative effect of the transaction in the quarter, consequence of the foreign exchange variation expense not being offset by the hedge instruments contracted, arises basically from the higher curve of future expectations for the CDI rate than for the R$/US$ exchange rate – which occurred basically in the months of May and June 2018, due to the instability of the macroeconomic scenario.

Expectations for future variations in the CDI rate and the US dollar exchange rate are the main variables used in the calculation of fair value of the hedge transactions referred to.

Note that the next expense referred to is not a cash effect, except for the first six-monthly interest payment of the transaction, in which the effect of exchange rate variation, for that installment only, was offset by a revenue amount received in the hedge linked to the transaction.

The Company’s consolidated total debt at June 30, 2018 was R$ 14,604,054, 1.43% less than at December 31, 2017.

Cemig’s debt increased by R$ 206 million over the first half of 2018, in spite of the Company having amortized a volume larger than the new funds raised in the period. This is mainly due to the appreciation of approximately 16% in the US dollar against the Real, in the second quarter of the year, which directly affected the balance of the debt under the Eurobonds when expressed in the local currency. It is important to note that in spite of this effect, which increased gross debt in Reais, and the debt indicators, the Company is protected from the effects of exchange rate variation on this debt – for the interest payments and charges, by a swap; and for the principal (US$ 1 billion), through a call spread for the interval between R$ 3.25 and R$ 5.00. In this case the Company will pay, at maturity, the amount of the floor of this range; and if the ceiling is exceeded, the Company will pay the floor level of R$ 3.25 plus the difference between the US$/R$ exchange rate and the ceiling level of R$ 5.00. Thus, Cemig has recorded an asset of R$ 131 million in the financial statements, at ‘fair value’, referring to the hedge, while the ‘value on the curve’ of this asset represents R$ 584 million.

On July 18, 2018 Cemig GT completed financial settlement of an additional tranche to its initial Eurobond issue completed on December 5, 2017. The new tranche, of R$ 500 million, brings the total of the issue to R$ 1.9 billion. The issue has six-monthly coupon of 9.14% p.a., with maturity of the principal in 2024.

Concomitantly with the settlement a hedge transaction was contracted, for the whole period of the issue, comprising:

On July 16, 2018 Cemig GT amortized the first and second series of its 6^th debenture issue, in the amount of R$ 533 million.

On July 27, 2018, with the additional tranche of the Eurobond issue, Cemig GT made early settlement of R$ 385 million, or 25%, of the balance of the nominal unit value of its 7^th issue of non-convertible debentures, of which the cost was 140% of the CDI rate with original maturity on December 23, 2021.

For so long as any of the Notes are Outstanding, Cemig and Cemig GT will include calculations of each sub-item of Covenant EBITDA, Covenant Net Debt and Total Secured Debt, in addition to calculations for the following financial covenant ratios: Covenant Net Debt / Covenant EBITDA and Total Secured Debt /EBITDA.


José Afonso Bicalho Beltrão da Silva		– Brazilian, married, economist, resident and domiciled in Belo Horizonte, MG at Rua Curitiba 2233/501, Lourdes, CEP 30170-122, bearer of Identity Card MG568870, issued by the Minas Gerais State Public Safety Department, and CPF nº 098044046-72;
Marco Antônio de Rezende Teixeira		– Brazilian, married, lawyer, resident and domiciled in Belo Horizonte, MG, at Rua Senhora das Graças 64/801, Cruzeiro, CEP 30310-130, bearer of Identity Card M611582, issued by the Minas Gerais State Public Safety Department, and CPF 371515926-04; and
Camila Nunes da Cunha Pereira Paulino		– Brazilian, married, public relations executive, resident and domiciled in Belo Horizonte, Minas Gerais at Rua Eugênio Murilo Rubião 185/601, Anchieta, CEP 30310-540, bearer of Identity Card MG11491274, issued by the Public Safety Department of Minas Gerais State, and CPF 053194916-89.


Helvécio Miranda Magalhães Junior		– Brazilian, single, doctor, resident and domiciled in Belo Horizonte, MG, at Rua Cláudio Manoel 735/1104, Funcionários, CEP 30140-100, bearer of Identity Card 161715-0, issued by the Minas Gerais State Public Safety Department, and CPF 561966446-53;
Flávia Cristina Mendonça Faria Da Pieve		– Brazilian, married, lawyer, resident and domiciled in Belo Horizonte, Minas Gerais at Rua Fábio Couri 155/502, Torre 2, Luxemburgo, CEP 30380-560, bearer of Identity Card M8033108, issued by the Public Safety Department of Minas Gerais State, and CPF 037964286-73; and
Wieland Silberschneider		– Brazilian, divorced, economist, domiciled in Belo Horizonte, Minas Gerais, at Rua Herculano de Freitas 1210/301, Gutierrez, CEP 30441-023, bearer of Identity Card MG-1072289, issued by the Minas Gerais State Civil Police (PCMG), and CPF 451960796-53.


Group	Votes in favor		Votes against		Abstentions
Sitting and substitute member:
José Afonso Bicalho Beltrão da Silva and Helvécio Miranda Magalhães Júnior		83,211,485		14,147,598		32,423,830
Marco Antônio de Rezende Teixeira and Flávia Cristina Mendonça Faria Da Pieve		83,211,484		14,147,598		32,423,827
Camila Nunes da Cunha Pereira Paulino and Wieland Silberschneider		83,211,484		14,147,597		32,423,826


Sitting members:		Substitute members:
José Afonso Bicalho Beltrão da Silva,		Helvécio Miranda Magalhães Júnior,
Marco Antônio de Rezende Teixeira,		Flávia Cristina Mendonça Faria Da Pieve,
Camila Nunes da Cunha Pereira Paulino,		Wieland Silberschneider,
Rodrigo de Mesquita Pereira,		Michele da Silva Gonsales,
Cláudio Morais Machado;		Carlos Roberto de Albuquerque Sá.


Consolidated – R$’000	2Q18			2Q17			Change%
REVENUE		5,533,199			5,205,029			6.30
OPERATING COSTS
Personnel		(348,576	)		(535,954	)		(34.96	)
Employees’ and managers’ profit shares		(3,150	)		(6,007	)		(47.56	)
Post-retirement obligations		(86,126	)		(97,390	)		(11.57	)
Materials		(18,416	)		(15,829	)		16.34
Outsourced services		(254,553	)		(238,140	)		6.89
Electricity purchased for resale		(2,818,905	)		(2,649,330	)		6.40
Depreciation and amortization		(198,309	)		(209,435	)		(5.31	)
Operating provisions		(134,112	)		(161,386	)		(16.90	)
Charges for use of the national grid		(416,038	)		(197,764	)		110.37
Gas bought for resale		(293,225	)		(262,651	)		11.64
Infrastructure construction costs		(202,974	)		(240,475	)		(15.59	)
Other operating expenses, net		(85,246	)		(90,938	)		(6.26	)

TOTAL COST		(4,859,630	)		(4,705,299	)		3.28

Equity method gains in non-consolidated investees		(83,107	)		30,477			—
Operational profit before Financial revenue (expenses) and taxes		590,462			530,207			11.36
Financial revenues		249,315			169,010			47.51
Financial expenses		(946,147	)		(510,564	)		85.31

Pre-tax profit		(106,370	)		188,653			(156.38	)
Current and deferred income tax and Social Contribution tax		24,628			(50,539	)		—

LOSS (GAIN) ON CONTINUING OPERATIONS		(81,742	)		138,114			—

Profit in the period from discontinued operations—Telecom		21,372			—			—

NET LOSS (GAIN) FOR THE PERIOD		(60,370	)		138,114			—


Item		Description of Items


1.		MARKET ANNOUNCEMENT DATED JULY 12, 2018: REPLY TO B3 INQUIRY LETTER 1441/2018-SAE OF JULY, OF JULY 11, 2018

2.		MATERIAL ANNOUNCEMENT DATED JULY 17, 2018: RENOVA DEALING WITH FURTHER OFFERS AFTER END OF BROOKFIELD NEGOTIATION

3.		MATERIAL ANNOUNCEMENT DATED JULY 18, 2018: SETTLEMENT OF ADDITIONAL EUROBOND TRANCHE

4.		SUMMARY OF PRINCIPAL DECISIONS OF THE 738^TH MEETING OF THE BOARD OF DIRECTORS HELD ON JULY 18, 2018:

5.		MINUTES OF THE EXTRAORDINARY GENERAL MEETING OF STOCKHOLDERS HELD ON JULY 23, 2018

6.		MARKET NOTICE DATED JULY 26, 2018: REPLY TO CVM INQUIRY LETTER 289/2018/CVM/SEP/GEA-1

7.		MARKET ANNOUNCEMENT DATED JULY 30, 2018: PRE-PAYMENT OF DEBT

8.		MATERIAL ANNOUNCEMENT DATED AUGUST 8, 2018: CEMIG TELECOM ASSETS SOLD FOR SIGNIFICANT PREMIUMS

9.		SUMMARY OF PRINCIPAL DECISIONS OF THE 740^TH MEETING OF THE BOARD OF DIRECTORS HELD ON AUGUST 10, 2018

10.		MATERIAL ANNOUNCEMENT DATED AUGUST 16, 2018: LIGHT IS EVALUATING THE POSSIBILITY OF RAISING FUNDS THROUGH A PUBLIC OFFERING

11.		NOTICE TO STOCKHOLDERS DATED AUGUST 17, 2018: EXTRAORDINARY GENERAL MEETING OF SEPTEMBER 18 POSTPONED

12.		MATERIAL ANNOUNCEMENT DATED AUGUST 24, 2018: CONTRACTS FOR SALE OF TELECOM ASSETS SIGNED

13		MATERIAL ANNOUNCEMENT DATED AUGUST 31, 2018: REIMBURSEMENT FOR SÃO SIMÃO AND MIRANDA PLANTS RECEIVED

14		MARKET NOTICE DATED SEPTEMBER 4, 2018: CEMIG AWARDED ANEFAC TRANSPARENCY TROPHY

15.		TIMETABLE FOR REALEASE OF SECOND QUARTER 2018 RESULTS

16.		PRESENTATION OF SECOND QUARTER 2018 RESULTS

17.		EARNINGS RELEASE


CONFERENCE CALL			58
CEMIG INVESTOR RELATIONS			58
CEMIG’S EXECUTIVE INVESTOR RELATIONS TEAM			58
SUMMARY			59
DISCLAIMER			60
CEMIG’S SHARES AND ADRS – MARKET PRICES, VS. INDICES			61
LONG-TERM RATINGS			62
ADOPTION OF IFRS			63
PROFIT AND LOSS ACCOUNTS			63
RESULTS FOR SECOND QUARTER 2018			64
CEMIG’S CONSOLIDATED ELECTRICITY MARKET			64
THE ELECTRICITY MARKET OF CEMIG D			66
PHYSICAL TOTALS OF TRANSPORT AND DISTRIBUTION – MWH			68
THE ELECTRICITY MARKET OF CEMIG GT			68
QUALITY INDICATORS – DEC / DECI AND FEC / FECI			69
CONSOLIDATED OPERATIONAL REVENUE			70
TAXES AND CHARGES ON REVENUE			75
OPERATIONAL COSTS AND EXPENSES			75
EQUITY IN EARNINGS OF UNCONSOLIDATED INVESTEES			80
NET FINANCIAL REVENUE (EXPENSES)			81
EBITDA			82
DEBT.			83
COVENANTS – EUROBONDS			85
RESULTS SEPARATED BY BUSINESS SEGMENT			86
APPENDICES			86
INVESTMENTS			87
LOSSES			87
SOURCES AND USES OF ELECTRICITY			88
PLANTS			90
TABLE CEMIG D			92
TABLE CEMIG GT			93
TABLE CEMIG			93


Consolidated	MWh				Change,%			Average price 2Q18 R$		Average price 2Q17 R$
Consolidated	2Q181		2Q17		Change,%			Average price 2Q18 R$		Average price 2Q17 R$
Residential		2,557,762		2,496,022		2.47			761.63		772.27
Industrial		4,524,750		4,450,891		1.66			253.97		278.99
Commercial, Services and Others		2,155,487		1,892,746		13.88			498.74		579.24
Rural		954,766		953,709		0.11			424.59		431.02
Public authorities		220,791		226,041		(2.32	)		595.45		611.42
Public lighting		345,401		341,420		1.17			369.86		394.25
Public services		331,174		324,405		2.09			428.80		439.25

Subtotal		11,090,131		10,685,234		3.79			448.94		476.55

Own consumption		11,357		8,788		29.23			—		—
Wholesale supply to agents in Free and Regulated Markets (*)		2,974,570		2,846,261		4.51			257.69		366.81

Total		14,076,058		13,540,283		3.96			414.75		428.39


Cemig D	Number of clients				Change, %
Cemig D	2Q18		2Q17		Change, %
Residential		6,807,112		6,739,939		1.00
Industrial		73,261		73,896		(0.86	)
Commercial, Services and Others		719,192		715,815		0.47
Rural		710,131		696,276		1.99
Public authorities		64,171		63,857		0.49
Public lighting		6,185		5,924		4.41
Public services		13,253		12,875		2.94

	8,393,305		8,308,582		1.02

Power transported
Industrial		556		509		9.23
Commercial		504		394		27.92
Rural		5		3		66.67
Concession holder		3		3		—

	1,068		909		17.49

Total		8,395,120		8,310,242		1.02


	MWh				Change %
	2Q18		2Q17		Change %
Total energy carried
Electricity transported for distributors		75,858		80,429		(5.68	)
Electricity transported for Free Clients		4,806,097		4,292,825		11.96
Own load		8,002,427		7,858,785		1.83
Consumption by captive market		6,331,252		6,313,550		0.28
Losses in distribution network		1,671,175		1,545,235		8.15

Total energy carried		12,884,381		12,232,040		5.33


Cemig GT	(MWh)				Change,%
Cemig GT	2Q18		2Q17		Change,%
Free Clients
Industrial		3,430,046		3,373,679		1.67
Commercial		851,996		563,620		51.16
Rural		315		3,660		(91.39	)
Free Market – Free contracts		2,339,728		2,237,418		4.57
Regulated Market		597,555		596,028		0.26
Regulated Market – Cemig D		32,218		32,894		(2.06	)

Total		7,251,858		6,807,298		6.53
SPCs of Cemig GT
Free Clients
Industrial		303,952		254,438		19.46

Total		7,555,810		7,061,737		7.00


	R$’000						Change			Average price		Average price		Change
	2Q18			2Q17			%			2Q18		2Q17		%
										R$		R$
Residential		1,948,068			1,927,607			1.06			761.63		772.27		(1.38	)
Industrial		1,149,137			1,241,737			(7.46	)		253.97		278.99		(8.97	)
Commercial, Services and Others		1,075,019			1,096,355			(1.95	)		498.74		579.24		(13.90	)
Rural		405,384			411,069			(1.38	)		424.59		431.02		(1.49	)
Public authorities		131,469			138,206			(4.87	)		595.45		611.42		(2.61	)
Public lighting		127,749			134,604			(5.09	)		369.86		394.25		(6.19	)
Public services		142,009			142,495			(0.34	)		428.80		439.25		(2.38	)

Subtotal		4,978,835			5,092,073			(2.22	)		448.94		476.55		(5.79	)
Supply not yet invoiced, net		130,096			(70,182	)		—			—		—		—
Wholesale supply to other concession holders (*)		766,525			1,044,045			(26.58	)		257.69		366.81		(29.75	)
Wholesale supply not yet invoiced, net		(37,352	)		(265,416	)		(85.93	)		—		—		—

Total		5,838,104			5,800,520			0.65			414.75		428.39		(3.18	)


	R$’000
Balance at Mar. 31, 2017		(718,742	)

Net constitution of financial liabilities		159,139
Assets realized		(188,433	)
Payments from the Flag Tariff Centralizing Account		(142,781	)
Updating – Selic rate		(21,911	)

Balance on June 30, 2017		(912,728	)

Balance at Mar. 31, 2018		242,546

Net constitution of financial assets		563,662
Assets realized		64,231
Others—R&D Reimbursement		(114,782	)
Payments from the Flag Tariff Centralizing Account		(12,404	)
Updating – Selic rate		10,839

Balance on June 30, 2018		754,092


Market (R$ ’000 m³/day)	2013		2014		2015		2016		2017		2Q18
Residential		0.17		0.72		1.04		3.38		11.44		15.91
Commercial		20.38		23.15		22.42		24.68		32.67		35.63
Industrial		2,734.95		2,849.24		2,422.78		2,173.76		2,453.22		2,384.86
Others		106.33		99.64		119.87		120.19		126.15		142.49

Total market excluding thermal generation		2,861.83		2,972.75		2,566.11		2,322.01		2,623.47		2,578.89

Thermal		1,214.50		1,223.99		1,309.13		591,52		990.89		542.32

Total		4,076.33		4,196.74		3,875.24		2,913.53		3,614.36		3,121.21


The ‘Flag’ Tariff component – history
April 2018	May 2018	June 2018
Green	Yellow	Red II

April 2017	May 2017	June 2017
Red	Red	Green


Balance of liabilities, consolidated – R$’000	Balance on Jun. 30, 2018			Balance on Dec. 31, 2017
Put options for shares in RME and Lepsa		569,286			507,232
Put option – SAAG		336,199			311,593
Put / call options – Ativas and Sonda		(3,849	)		(3,801	)

		901,636			815,024


Consolidated – R$’000	Equity method gain (loss) 2Q18			Equity method gain (loss) 2Q17
Companhia Transleste de Transmissão		—			1,322
Companhia Transudeste de Transmissão		—			1,047
Companhia Transirapé de Transmissão		—			1,157
Companhia de Transmissão Centroeste de Minas		1,052			1,374
Light		(21,137	)		(19,424	)
Axxiom Soluções Tecnológicas		(2,344	)		(2,309	)
LEPSA		—			(6,085	)
RME		(5,844	)		(6,060	)
Hidrelétrica Cachoeirão		4,026			3,150
Guanhães Energia		(154	)		(571	)
Hidrelétrica Pipoca		498			732
Madeira Energia (Santo Antônio plant)		(50,959	)		(25,558	)
FIP Melbourne (Santo Antônio plant)		(42,919	)		(22,451	)
Lightger		283			1,175
Baguari Energia		5,935			5,954
Central Eólica Praias de Parajuru		(4,336	)		(616	)
Central Eólica Volta do Rio		(7,321	)		(1,847	)
Central Eólica Praias de Morgado		(3,005	)		(1,522	)
Amazônia Energia (Belo Monte Plant)		17,422			(2,638	)
Ativas Data Center		(128	)		(766	)
Taesa		54,476			20,530
Renova		(47,776	)		64,799
Itaocara		(3,286	)		—
Aliança Geração		8,236			15,891
Aliança Norte (Belo Monte plant)		9,928			120
Retiro Baixo		4,246			3,073

Total		(83,107	)		30,477


Ebitda – R$ million	2Q18			2Q17		Change,%
Net profit (loss) for the period		(60,370	)		138,114		—
+ Income tax and Social Contribution tax		(24,628	)		50,539		—
+ Net financial revenue (expenses)		696,832			341,554		104.02
+ Depreciation and amortization		198,309			209,435		(5.31	)

= EBITDA		810,143			739,642		9.53


R$’000	June 30, 2018		Dec. 31, 2017		%
Cemig
Total debt		14,604,054		14,397,697		1.43
Net debt		13,311,235		12,279,303		8.40
Cemig GT
Total debt		8,640,574		8,320,163		3.85
Net debt		7,982,183		7,381,202		8.16
Cemig D
Total debt		5,628,552		5,682,691		(0.95	)
Net debt		5,325,107		4,851,213		9.77


12 months	June 30, 2018
R$ (in million)	GT			H
Net income for the period/year (i)		(36	)		925
Net financial expenses		1,170			1,118
Income tax and Social Contribution tax		266			577
Depreciation and amortization		145			850

EBITDA		1,545			3,470
*minus* minority interest result		673			338
*minus* provision for the variation in value of the put option obligations		98			385
*minus* non-operating result (which includes any gains on asset sales and any asset write-off or impairments)		41			(2	)
*plus* non-cash expenses and non-cash charges, to the extent they are non-recurring		—			—
*minus* non-cash credits and gains increasing net income, to the extent they are non-recurring		(243	)		(720	)
*plus* any cash payments made on a consolidated basis during such period relating to non-cash charges that were added back in determining covenant EBITDA in any prior period		—			—
*plus* expenses related to adherence to the Minas Gerais State Tax Credits Regularization Plan (Plano de Regularização de Créditos Tributários – PRCT), incurred in the third quarter of 2017		30			562
*minus* non-cash revenues related to transmission and generation indemnification		(407	)		(407	)
*plus* cash dividends received from minority investments (as measured in the statement of cash flows)		207			394
*minus* monetary updating of concession grant fees		(324	)		(324	)
*plus* cash inflows related to power generation concession grant fee		245			245
*plus* cash inflows related to transmission revenue for cost of capital coverage		526			526
*plus* cash inflows from generation indemnification, provided that such amount shall not exceed 30% of the sum of clauses (i) through this definition of Covenant EBITDA		—			—

Covenant EBITDA		2,391			4,467

Consolidated Indebtedness		8,641			14,604
*plus* debt contracts with Forluz		241			1,067
*plus* carrying liability of any put option obligation		414			1,042
*minus* escrow account amounts deposited to satisfy any put option obligation		—			(89	)
*minus* consolidated cash and cash equivalents; plus consolidated marketable securities recorded as current assets		(647	)		(1,229	)

Covenant Net Debt		8,649			15,395

Covenant net debt/covenant EBITDA		3.62			3.45
Limit Covenant Net Debt to Covenant EBITDA Ratio		5.50			5.00
Total Secured Debt					6.211
Covenant EBITDA					4.467
Total Secured Debt to Covenant EBITDA Ratio					1.39
Limit Covenant Net Debt to Covenant EBITDA Ratio					1.75


INFORMATION BY MARKET SEGMENT ON JUNE 30, 2018
	ELECTRICITY
ITEM	GENERATION			TRANSMISSION			DISTRIBUTION			GAS			TELECOM			OTHER			ELIMINATIONS			TOTAL
ASSETS OF THE SEGMENT		14,368,687			3,811,813			19,732,927			1,812,803			311,017			1,689,160			(46,049	)		41,680,358
Investments in subsidiaries and jointly-controlled entities		4,709,952			1,130,140			1,838,752			—			—			24,708			—			7,703,552
ADDITIONS TO THE SEGMENT		170,045			—			361,492			20,969			7,631			1,016			—			561,153
Additions to the financial asset		—			4,732			—			—			—			—			—			4,732
CONTINUING OPERATIONS
NET REVENUE		3,038,039			326,689			6,454,706			730,704			—			65,045			(146,553	)		10,468,630
COST OF ELECTRICITY AND GAS
Electricity purchased for resale		(1,705,024	)		—			(3,412,396	)		—			—			(3	)		34,825			(5,082,598	)
Charges for use of the national grid		(126,922	)		—			(780,585	)		—			—			—			98,927			(808,580	)
Gas bought for resale		—			—			—			(556,459	)		—			—			—			(556,459	)

Operational costs, total		(1,831,946	)		—			(4,192,981	)		(556,459	)		—			(3	)		133,752			(6,447,637	)
OPERATIONG COSTS AND EXPENSES
Personnel		(114,985	)		(52,575	)		(460,306	)		(24,147	)		(9,893	)		(18,334	)		—			(680,240	)
Profit sharing		(2,901	)		(1,577	)		(12,674	)		—			351			(5,926	)		—			(22,727	)
Post-retirement obligations		(23,053	)		(13,317	)		(112,669	)		—			—			(20,358	)		—			(169,397	)
Materials		(3,436	)		(1,727	)		(26,875	)		(854	)		(709	)		(115	)		10			(33,706	)
Outsourced services		(49,049	)		(18,880	)		(410,579	)		(8,275	)		(2,878	)		(9,123	)		8,438			(490,346	)
Depreciation and amortization		(81,980	)		—			(292,240	)		(36,142	)		(704	)		(234	)		—			(411,300	)
Operational provisions		(36,369	)		(3,962	)		(148,588	)		—			(213	)		(78,187	)		—			(267,319	)
Construction costs		—			(4,732	)		(361,492	)		(17,419	)		—			—			—			(383,643	)
Other operating expenses, net		(23,434	)		(7,800	)		(110,686	)		(5,674	)		(1,991	)		(6,375	)		4,353			(151,607	)

Total cost of operation		(335,207	)		(104,570	)		(1,936,109	)		(92,511	)		(16,037	)		(138,652	)		12,801			(2,610,285	)

OPERATING COSTS AND EXPENSES		(2,167,153	)		(104,570	)		(6,129,090	)		(648,970	)		(16,037	)		(138,655	)		146,553			(9,057,922	)
Equity method loss (gain) in non-consolidated investes		(140,412	)		102,474			16,743			—			(763	)		(4,275	)		—			(26,233	)
OPERATIONAL PROFIT BEFORE FINANCIAL

REVENUE (EXPENSES)		730,474			324,593			342,359			81,734			(16,800	)		(77,885	)		—			1,384,475
Financial revenues		244,465			14,640			182,241			27,825			780			21,218			—			491,169
Financial expenses		(1,006,540	)		(2,343	)		(312,299	)		(19,984	)		(2,861	)		(1,774	)		—			(1,345,801	)

PRE-TAX PROFIT		(31,601	)		336,890			212,301			89,575			(18,881	)		(58,441	)		—			529,843
Income and Social Contribution taxes		(22,990	)		(61,996	)		(67,386	)		(27,954	)		5,769			27,567			—			(146,990	)

GAIN (LOSS) ON CONTINUING OPERATIONS		(54,591	)		274,894			144,915			61,621			(13,112	)		(30,874	)		—			382,853

Profit in the period from discontinued operations		—			—			—			—			21,372			—			—			21,372

NET PROFIT (LOSS)		(54,591	)		274,894			144,915			61,621			8,260			(30,874	)		—			404,225

Interest of the controlling shareholders		(54,591	)		274,894			144,915			61,323			8,260			(30,874	)		—			403,927
Interest of non-controlling shareholders		—			—			—			298			—			—			—			298

		(54,591	)		274,894			144,915			61,621			8,260			(30,874	)		—			404,225


Description	2018		June/18
GENERATION		55		8
Investment program		55		8
Capital commitments		257		150
Alianga Norte		72		42
SPE - Guanhaes		60		35
SPE - Amazonia Energia Participagdes S.A. (Belo Monte)		120		70
Usina Hidreletrica Itaocara S.A.		5		3
TRANSMISSION		154		3
Investment program		154		3
CEMIG D		1,131		394
Investment program		1,131		394

Total		1,597		555


Plant	Company	Type	Cemig’s Interest		Installed Capacit (MW)		Assured Energy (average MW)		Installed Capacit Cemig (MW)*		Assured Energy Cemig (average MW)*		Year Concession or Authorization Expires
Emborcação	CEMIG GT	Hydroelectric		100.00%		1,192.00		499.70		1,192.00		499.70		7/23/2025
Nova Ponte	CEMIG GT	Hydroelectric		100.00%		510.00		270.10		510.00		270.10		7/23/2025
Irapé	CEMIG GT	Hydroelectric		100.00%		399.00		207.90		399.00		207.90		2/28/2035
Igarapé	CEMIG GT	Thermal		100.00%		131.00		71.30		131.00		71.30		8/13/2024
Queimado	CEMIG GT	Hydroelectric		82.50%		105.00		67.90		86.63		56.02		1/2/2033
Volta do Rio	CEMIG GT	Wind Farm		49.00%		42.00		18.41		20.58		9.02		12/26/2031
Praias de Parajuru	CEMIG GT	Wind Farm		49.00%		28.80		8.39		14.11		4.11		9/24/2032
Praia do Morgado	CEMIG GT	Wind Farm		49.00%		28.80		13.20		14.11		6.47		12/26/2031
Paracambi (Cemig)	CEMIG GT	SHP		49.00%		25.00		19.53		12.25		9.57		2/19/2031
Rio de Pedras	CEMIG GT	SHP		100.00%		9.28		2.15		9.28		2.15		9/19/2024
Poço Fundo	CEMIG GT	SHP		100.00%		9.16		5.79		9.16		5.79		8/19/2025
São Bernardo	CEMIG GT	SHP		100.00%		6.82		3.42		6.82		3.42		8/19/2025
Paraúna	CEMIG GT	SHP		100.00%		4.28		1.90		4.28		1.90		—
Salto Morais	CEMIG GT	SHP		100.00%		2.39		0.60		2.39		0.60		7/1/2020
Sumidouro	CEMIG GT	SHP		100.00%		2.12		0.53		2.12		0.53		7/8/2015
Anil	CEMIG GT	SHP		100.00%		2.08		1.10		2.08		1.10		7/8/2015
Xicão	CEMIG GT	SHP		100.00%		1.81		0.61		1.81		0.61		8/19/2025
Luiz Dias	CEMIG GT	SHP		100.00%		1.62		0.61		1.62		0.61		8/19/2025
Central Mineirão	CEMIG GT	Solar		100.00%		1.42		—		1.42		—		—
Santa Marta	CEMIG GT	SHP		100.00%		1.00		0.58		1.00		0.58		7/8/2015
Pissarrão	CEMIG GT	SHP		100.00%		0.80		0.55		0.80		0.55		11/19/2004
Jacutinga	CEMIG GT	SHP		100.00%		0.72		0.57		0.72		0.57		Não Tem
Santa Luzia	CEMIG GT	SHP		100.00%		0.70		0.23		0.70		0.23		2/25/2026
Lages *	CEMIG GT	SHP		100.00%		0.68		0.54		0.68		0.54		6/24/2010
Três Marias	CEMIG G. TRÊS MARIAS	Hydroelectric		100.00%		396.00		239.00		396.00		239.00		1/4/2046
Salto Grande	CEMIG G. SALTO GRANDE	Hydroelectric		100.00%		102.00		75.00		102.00		75.00		1/4/2046
Itutinga	CEMIG G. ITUTINGA	Hydroelectric		100.00%		52.00		28.00		52.00		28.00		1/4/2046
Camargos	CEMIG G. CAMARGOS	Hydroelectric		100.00%		46.00		21.00		46.00		21.00		1/4/2046
Peti	CEMIG G. LESTE	SHP		100.00%		9.40		6.18		9.40		6.18		1/4/2046
Tronqueiras	CEMIG G. LESTE	SHP		100.00%		8.50		3.39		8.50		3.39		1/4/2046
Ervália	CEMIG G. LESTE	SHP		100.00%		6.97		4.66		6.97		4.66		1/4/2046
Neblina	CEMIG G. LESTE	SHP		100.00%		6.47		0.35		6.47		0.35		1/4/2046
Dona Rita	CEMIG G. LESTE	SHP		100.00%		2.40		1.03		2.40		1.03		1/4/2046
Sinceridade	CEMIG G. LESTE	SHP		100.00%		1.42		3.59		1.42		3.59		1/4/2046
Gafanhoto	CEMIG G. OESTE	SHP		100.00%		14.00		6.68		14.00		6.68		1/4/2046
Martins	CEMIG G. OESTE	SHP		100.00%		7.70		1.84		7.70		1.84		1/4/2046
Cajuru	CEMIG G. OESTE	SHP		100.00%		7.20		2.69		7.20		2.69		1/4/2046
Piau	CEMIG G. SUL	SHP		100.00%		18.01		13.53		18.01		13.53		1/4/2046
Joasal	CEMIG G. SUL	SHP		100.00%		8.40		5.20		8.40		5.20		1/4/2046
Cel. Domiciano	CEMIG G. SUL	SHP		100.00%		5.04		3.03		5.04		3.03		1/4/2046
Paciência	CEMIG G. SUL	SHP		100.00%		4.08		2.36		4.08		2.36		1/4/2046
Marmelos	CEMIG G. SUL	SHP		100.00%		4.00		2.74		4.00		2.74		1/4/2046
Sá Carvalho	Sá Carvalho	Hydroelectric		100.00%		78.00		56.10		78.00		56.10		12/1/2024
Rosal	Rosal Energia	Hydroelectric		100.00%		55.00		29.10		55.00		29.10		5/8/2032
Pai Joaquim	CEMIG PCH	SHP		100.00%		23.00		13.91		23.00		13.91		4/1/2032
Salto Voltão	Horizontes Energia	SHP		100.00%		8.20		7.36		8.20		7.36		10/4/2030
Salto do Passo Velho	Horizontes Energia	SHP		100.00%		1.80		1.64		1.80		1.64		10/4/2030
Machado Mineiro	Horizontes Energia	SHP		100.00%		1.72		1.14		1.72		1.14		7/8/2025
Aimorés	ALIANÇA	Hydroelectric		45.00%		330.00		181.90		148.50		81.86		12/20/2035
Amador Aguiar I (Capim Branco I)	ALIANÇA	Hydroelectric		39.32%		240.00		154.40		94.36		60.70		8/29/2036
Igarapava	ALIANÇA	Hydroelectric		23.69%		210.00		134.20		49.75		31.80		12/30/2028
Amador Aguiar II (Capim Branco II)	ALIANÇA	Hydroelectric		39.32%		210.00		131.70		82.56		51.78		8/29/2036
Funil	ALIANÇA	Hydroelectric		45.00%		180.00		84.60		81.00		38.07		12/20/2035
Porto Estrela	ALIANÇA	Hydroelectric		30.00%		112.00		61.80		33.60		18.54		7/10/2032
Candonga	ALIANÇA	Hydroelectric		22.50%		—		—		—		—		5/25/2035
Baguari	BAGUARI ENERGIA	Hydroelectric		34.00%		140.00		84.70		47.60		28.80		8/15/2041
Cachoeirão	Hidrelétrica Cachoeirão	SHP		49.00%		27.00		16.37		13.23		8.02		7/25/2030
Pipoca	Hidrelétrica Pipoca	SHP		49.00%		20.00		11.90		9.80		5.83		9/10/2031
SHPs	Light Energia	SHP		48.86%		855.14		620.70		417.82		303.27		—
Paracambi (Light)	Lightger	SHP		24.92%		25.00		19.53		6.23		4.87		2/16/2031
SHPs	Renova Energia	SHP		44.62%		41.80		24.40		18.65		10.89		—
SHPs	Brasil PCH	SHP		22.76%		291.00		192.68		66.22		43.85		—
Belo Monte	Norte	Hydroelectric		12.91%		5,121.99		4,571.00		661.04		589.93		26/08/2045
Retiro Baixo	Retiro Baixo	Hydroelectric		49.90%		82.00		36.60		40.92		18.26		8/25/2041
Santo Antônio	SAE	Hydroelectric		18.13%		3,568.30		2,424.00		646.90		439.45		6/12/2046

Total						14,828.02		10,475.61		5,710.06		3,418.79

São Simão	CEMIG GT	Hydroelectric		100.00%		1,710.00		1,281.00		1,710.00		1,281.00		Temporarily


RAP (Permitted Annual Revenue - Transmission ) - 2017/2018 cycle
Annual Permitted Revenue (RAP)	RAP		% Cemig		Cemig Consolidado
Cemig GT		709,016,589		100.00%		709,016,589

Cemig GT		687,018,817		100.00%		687,018,817
Cemig Itajuba		21,997,772		100.00%		21,997,772

Centroeste		17,399,265		51.00%		8,873,625

Taesa		2,328,434,417		21.68%		504,804,582

Transleste		12,241,196		30.00%		2,653,891
Transudeste		7,334,302		29.00%		1,590,077
Transirapé		9,771,428		29.50%		2,118,446
ETEO		88,077,706		100.00%		19,095,247
ETAU		24,216,647		52.58%		5,250,169
NOVATRANS		517,164,423		100.00%		112,121,247
TSN		427,855,624		100.00%		92,759,099
GTESA		9,361,375		100.00%		2,029,546
PATESA		25,008,641		100.00%		5,421,873
Munirah		36,484,440		100.00%		7,909,826
Brasnorte		10,062,251		38.66%		2,181,496
São Gotardo		5,203,930		100.00%		1,128,212
NTE		153,424,301		100.00%		33,262,388
STE		81,598,032		100.00%		17,690,453
ATE I		149,036,948		100.00%		32,311,210
ATE II		230,277,807		100.00%		49,924,229
ATE III		116,301,579		100.00%		25,214,182
EATE		177,139,821		49.98%		38,403,913
STC		17,592,992		39.99%		3,814,161
Lumitrans		10,651,737		39.99%		2,309,297
ENTE		112,564,897		49.99%		24,404,070
ERTE		25,266,463		49.99%		5,477,769
ETEP		28,183,293		49.98%		6,110,138
ECTE		9,074,626		19.09%		1,967,379
EBTE		34,269,232		74.49%		7,429,570
ESDE		6,548,398		49.98%		1,419,693
ETSE		3,722,327		19.09%		807,000

Light		8,941,679		48.86%		1,938,556

RAP TOTAL CEMIG						1,224,633,352


CEMIG D Market
	(GWh)						GW
Quarter	Captive Consumers		TUSD ENERGY1		T.E.D2		TUSD PICK3
1Q16		6,408		4,053		10,460		29
2Q16		6,711		4,497		11,208		29
3Q16		6,365		4,424		10,788		29
4Q16		6,402		4,409		10,811		30
1Q17		6,249		4,274		10,523		30
2Q17		6,314		4,287		10,601		31
3Q17		6,232		4,586		10,817		31
4Q18		6,221		4,591		10,813		31
1Q18		6,201		4,637		10,838		31
2Q18		6,331		4,873		11,204		30


Operating Revenues	2Q18			2Q17			Change%			1H2018			1H2017			Change%
Sales to end consumers		4,085			4,006			2.0			7,921			8,184			(3.2	)
TUSD		445			447			—			825			915			(9.8	)
CVA and Other financial components in tariff adjustment		628			(29	)		—			1,069			(332	)		—
Construction revenue		191			240			(20.2	)		361			421			(14.2	)
Others		304			298			2.2			664			575			15.5

Subtotal		5,654			4,961			14.0			10,840			9,763			11.0

Deductions		(2,183	)		(2,109	)		3.5			(4,385	)		(4,143	)		5.9

Net Revenues		3,471			2,852			21.7			6,455			5,620			14.9


Operating Expenses	2Q18			2Q17		Change%			1H2018		1H2017		Change%
Personnel/Administrators/Councillors		234			390		(39.8	)		460		644		(28.5	)
Employee Participation		(1	)		4		—			13		18		(28.2	)
Forluz – Post-Retirement Employee Benefits		57			67		(14.2	)		113		132		(14.5	)
Materials		14			12		20.0			27		20		34.0
Contracted Services		212			188		12.6			411		361		13.8
Purchased Energy		1,927			1,676		15.0			3,412		3,054		11.7
Depreciation and Amortization		147			133		10.6			292		263		11.1
Operating Provisions		64			156		(59.2	)		149		293		(49.3	)
Charges for Use of Basic Transmission Network		410			152		169.9			781		314		148.4
Cost from Operation		191			240		(20.2	)		361		421		(14.2	)
Other Expenses		63			70		(9.9	)		111		139		(20.4	)

Total		3,320			3,088		7.5			6,129		5,659		8.3


Statement of Results	2Q18			2Q17			Change%			1H2018			1H2017			Change%
Net Revenue		3,471			2,852			21.7			6,455			5,620			14.9
Operating Expenses		3,320			3,088			7.5			6,129			5,659			8.3

EBIT		151			(237	)		—			326			(40	)		—

EBITDA		299			(103	)		—			618			223			176.6

Financial Result		(59	)		(115	)		(48.1	)		(130	)		(228	)		(43.0	)
Provision for Income Taxes, Social Cont &		(29	)		111			—			(67	)		77			—

Net Income		62			(240	)		—			128			(191	)		—


Energy Sales (Consolidated)(GWh)	2Q18		2Q17		Change%		1H2018		1H2017		Change%
Residential		2,558		2,496		2.5		5,151		5,033		2.3
Industrial		4,525		4,451		1.7		8,553		8,704		(1.7	)
Commercial		2,155		1,893		13.9		4,198		3,805		10.3
Rural		955		954		0.1		1,720		1,752		(1.8	)
Others		897		892		0.6		1,776		1,752		1.4

Subtotal		11,090		10,685		3.8		21,399		21,046		1.7

Own Consumption		11		9		29.2		23		18		30.1
Supply		2,975		2,846		4.5		5,607		5,740		(2.3	)

TOTAL		14,076		13,540		4.0		27,030		26,805		0.8


Energy Sales	2Q18		2Q17			Change%			1H2018			1H2017			Change%
Residential		1,948		1,928			1.1			3,866			3,919			(1.4	)
Industrial		1,149		1,242			(7.5	)		2,255			2,424			(7.0	)
Commercial		1,075		1,096			(1.9	)		2,144			2,236			(4.1	)
Rural		405		411			(1.4	)		748			779			(4.0	)
Others		401		415			(3.4	)		781			821			(4.8	)

Electricity sold to final consumers		4,979		5,092			(2.2	)		9,794			10,179			(3.8	)

Unbilled Supply, Net		93		(336	)		—			(26	)		(109	)		(75.9	)
Supply		767		1,044			(26.6	)		1,468			1,502			(2.3	)

TOTAL		5,838		5,801			0.6			11,236			11,572			(2.9	)


Financial Result Breakdown	2Q18			2Q17			Change%			1H2018			1H2017			Change%
Financial revenues		249			169			47.5			491			349			40.8

Revenue from cash investments		18			61			(70.1	)		42			125			(66.7	)
Arrears penalty payments on electricity bills		92			65			41.9			168			138			21.8
Exchange rate		—			9			—			3			18			(85.4	)
Monetary updating		26			19			37.8			38			37			2.3
Monetary updating – CVA		83			—			—			180			—			—
Taxes applied to Financial Revenue		(11	)		(11	)		—			(20	)		(22	)		—
Other		41			26			55.4			80			53			51.6

Financial expenses		(946	)		(511	)		85.3			(1,346	)		(1,083	)		24.2

Costs of loans and financings		(316	)		(382	)		(17.4	)		(603	)		(828	)		(27.2	)
Exchange rate		(561	)		(19	)		2,918.8			(581	)		(19	)		3,023.0
Monetary updating – loans and financings		(27	)		(26	)		4.2			(65	)		(69	)		(5.3	)
Monetary updating – paid concessions		(2	)		1			—			(2	)		1			—
Charges and monetary updating on Post-employment obligations		(15	)		(17	)		(8.8	)		(33	)		(36	)		(7.9	)
Other		(26	)		(69	)		(62.5	)		(61	)		(133	)		(53.7	)

Financial revenue (expenses)		(697	)		(342	)		104.0			(855	)		(734	)		16.4


Cash Flow Statement	2Q18			2Q17			Change%
Cash at beginning of period		1,030			995			3.5

Cash generated by operations		(8	)		1,767			—

Net profit		383			481			(20.4	)
Current and deferred income tax and Social Contribution tax		147			214			(31.3	)
Depreciation and amortization		412			411			0.2
CVA and other financial components		(1,069	)		332			—
Equity gain (loss) in subsidiaries		26			(60	)		—
Provisions (reversals) for operational losses		267			370			(27.8	)
Dividends received from equity holdings		197			157			25.5
Interest paid on loans and financings		(672	)		(711	)		(5.5	)
Foreign exchange variations		554			1			55,300.0
Suppliers		(190	)		24			—
Others		(63	)		548			—

Financing activities		(269	)		(1,066	)		74.8

Financings obtained and capital increase		396			60			560.0
Payments of loans and financings		(775	)		(855	)		(9.4	)
Interest on Equity, and dividends		—			(271	)		—
Capital Increase		110			—			—

Investment activity		188			(750	)		(125.1	)

Securities – Financial Investment		734			(125	)		—
Acquisition of ownership interest and future capital commitments		(150	)		(186	)		(19.4	)
Fixed and Intangible assets		(396	)		(439	)		(9.8	)

Cash at end of period		941			946			(0.5	)

Total Cash		1,293			2,118


BALANCE SHEETS (CONSOLIDATED) – ASSETS	03/31/2018		12/31/2017
CURRENT		6,966		8,537

Cash and cash equivalents		941		1,030
Securities		288		1,058
Consumers and traders		3,759		3,885
Financial assets of the concession		565		848
Tax offsetable		150		174
Income tax and Social Contribution tax recoverable		406		340
Dividends receivable		10		77
Linked funds		111		—
Inventories		34		38
Advances to suppliers		97		77
Other credits		605		904

NON-CURRENT		34,714		33,703

Securities		64		30
Consumers and traders		77		255
Tax offsetable		231		231
Income tax and Social Contribution tax recoverable		11		21
Deferred income tax and Social Contribution tax		1,944		1,871
Escrow deposits in legal actions		2,380		2,336
Other credits		1,419		644
Financial assets of the concession		7,278		6,605
Investments		7,704		7,792
PP&E		2,421		2,762
Intangible assets		11,185		11,156

TOTAL ASSETS		41,680		42,240


BALANCE SHEETS LIABILITIES AND SHAREHOLDERS’ EQUITY	03/31/2018			12/31/2017
CURRENT		7,859			8,662

Suppliers		2,153			2,343
Regulatory charges		434			513
Profit shares		19			9
Taxes		287			705
Income tax and Social Contribution tax		67			115
Interest on Equity, and dividends, payable		428			428
Loans and financings		2,741			2,371
Payroll and related charges		223			207
Post-retirement liabilities		237			232
Other obligations		701			1,232
Provisions for losses on investments		569			507

NON-CURRENT		19,142			19,248

Regulatory charges		278			250
Loans and financings		11,863			12,027
Taxes		28			28
Income tax and Social Contribution tax		718			735
Provisions		668			678
Post-retirement liabilities		4,005			3,954
Provisions for losses on investments		336			337
Other obligations		1,246			1,239

STOCKHOLDERS’ EQUITY		14,675			14,326

Share capital		7,294			6,294
Capital reserves		2,250			1,925
Profit reserves		5,968			5,729
Adjustments to Stockholders’ equity		(837	)		(837	)
Advance against Future Capital Increase		—			1,215

NON-CONTROLLING STOCKHOLDER’S EQUITY		4			4

TOTAL LIABILITIES		41,680			42,240