Post on 08-Apr-2018
transcript
8/6/2019 Grupos Electrgenos 2
1/19
7:5480.97O0348
8/6/2019 Grupos Electrgenos 2
2/19
Z`^[VaUUZ
`^Sb_VWW_`WZX[^W_WTa_USZ`W^[^S^_W_[T^WS_S^`W_VWaZY^a\[WWU`^YWZ[U[[XaZU[ZSSYaZ[_S_\WU`[_VW
SZ`WZWZ`[VW_[SU[Z`ZaSUZ_WbW^SWZVW`SW[SZ`W_WZU[ZSV[
8/6/2019 Grupos Electrgenos 2
3/19
W_U^\UZVWWS
ZY^a\[WWU`^YWZ[W_aZSS]aZS]aWaWbWaZYWZW^SV[^VWWWU`^UVSVS`^Sb_VWaZ[`[^VWU[Ta_`ZZ`W^ZS[Z
a`SV[_X^WUaWZ`WWZ`WWZaYS^W_]aW_W\^[VaUWZU[^`W_VWWZW^YSWU`^USS__[U[[UaSZV[SVXU`WZSYWZW^SUZVWWZW^YSWU`^USVWaZaYS^VW`W^ZSV[
ZS_VW_a_\^ZU\SW_a`VSVW_W_YWZW^S^WWU`^UVSVWZaYS^W_V[ZVWZ[S_aZ_`^[VWWZW^YSWU`^USU[[aYS^W_U[Z\[U[_ST`SZ`W_[ZS_S_SVS__ZZX^SW_`^aU`a^S_aXUWZ`W
_U[[WZaYS^W_VWU[ZUa^^WZUS\aTUSS_bSU[[[_\`SW_XST^US_WVXU[_UWZ`^[_U[W^USW__W^bU[_W`UZ
US_[_VWWW^YWZUS_
8/6/2019 Grupos Electrgenos 2
4/19
W_S^^[[VWWS
ZY^a\[WWU`^YWZ[U[Z_`SVWS__YaWZ`W_\S^`W_
[`[^_SXaWZ`WVWWZW^YSWUZUS]aWZWUW_`SWS`W^ZSV[^\S^SY^S^YWZW^S^WWU`^UVSV[_SVWV[_ \[_[`[^W_SYS_[ZS [`[^W_SVW_W S\[`WZUSVWW_`[_VW\WZVWVWS_
US^SU`W^_`US_VWYWZW^SV[ _WZV[YWZW^SWZ`W[__a_SV[_[_[`[^W_VW_W\[^\[_WW^US^SU`W^_`US_WUZUS_VWWZ[^
U[_`[
WYaSUZVW[`[^_aZV_\[_`b[WUZU[V_WSV[\S^S
SZ`WZW^aZSbW[UVSV[Z_`SZ`WVW[`[^U[Z^WSUZS[_^W]a_`[_VWUS^YSSbW[UVSVVW[`[^W_`S^WSU[ZSVS
V^WU`SWZ`WU[ZSX^WUaWZUSVW_SVSVWS`W^ZSV[^\[^[_[UaS]aW^bS SUZVWSbW[UVSVVW[`[^SXWU`S^SSSX^WUaWZUS
VWS\[`WZUSVW_SVS
8/6/2019 Grupos Electrgenos 2
5/19
_`WSWU`^U[VW[`[^ZUaWaZ[`[^VWS^^SZ]aWWU`^U[TS`W^S_S_`STZ_WZ_[^W_V_\[_`b[_VWSS^S_VW[_]aWV_\[ZYSW[`[^US__W\^WaZ[`[^V_\[ZWVWaZ
SZ[U[Z`SU`[\S^S\^W_ZVWSUW`WaZ`W^[U[Z`SU`[\S^SS`W\W^S`a^S
_`WSVW^WX^YW^SUZ_` \aWVW_W^WVSZ`WSYaSSUW`W[S^W\[^S^WU[Z__`WWZaZbWZ`SV[ ]aWSUW\S_S^S^WX^[S[S^Y[VW[`[^\S^SWZX^S^[__`WSVW^WX^YW^SUZS`^Sb_VW
SYaSSUW`WU[Z_`SVWaZ^SVSV[^aZbWZ`SV[^Z`W^[^\S^SWZX^S^_a_U[\[ZWZ`W_
`W^ZSV[^SWZW^YSWU`^USVW_SVS_W\^[VaUW\[^WV[VWaZS`W^ZSV[^S\SZ`SSV[\^[`WYV[U[Z`^S_S\USVa^S_Sa`[
WU`SV[Sa`[^WYaSV[_ZW_U[TS_SU[\SV[U[Z\^WU_ZS[`[^STZ[_SU[ZW_U[TS_\S^SS]aW[_Ua[XaZU[ZSWZ`[_WS`SV[`SS[VWS`W^ZSV[^_a_
\^W_`SU[ZW__[ZabS^STW_WZXaZUZVWSUSZ`VSVVWWZW^YS]aW`WZYSZ]aWYWZW^S^
8/6/2019 Grupos Electrgenos 2
6/19
W\[_`[VWU[Ta_`TWTSZUSVS[`[^WS`W^ZSV[^W_`ZSU[\SV[_[Z`SV[__[T^WaZSTSZUSVSVWSUW^[STSZUSVSZUaWaZVW\_`[VWU[Ta_`TWU[ZaZSUS\SUVSVZSVWXaZU[ZSWZ`[S\WZSUS^YS_WYZS_W_\WUXUSU[ZW_ UZUS_
]aW`WZYSWY^a\[WZ_aSa`[Z[S
_SWZ`[VWSbT^SUZY^a\[WWU`^YWZ[W_`SV[`SV[VW`SU[_SZ`bT^SZ`W_V_WSV[_\S^S WVaU^S_bT^SU[ZW_\[^WY^a\[[`[^S`W^ZSV[^_`[_S_SV[^W_W_`ZU[[USV[_WZ`^WSTS_WVW[`[^VWS`W^ZSV[^VWUaSV^[VWSZV[STSZUSVS
WZUSV[^__`WSVWW_US\W _WZUSV[^VWW_US\WbSZ_`SSV[WZWY^a\[WWU`^YWZ[_WZUSV[^W__`WSVWW_US\W^WVaUWSW_ZVW aV[_\^[VaUV[_\[^W[`[
8/6/2019 Grupos Electrgenos 2
7/19
_`WSVWU[Z`^[ W\aWVWZZ_`SS^aZ[VW[_VXW^WZ`W_ \[_VW\SZWW___`WS_VWU[Z`^[\S^SU[Z`^[S WXaZU[ZSWZ`[
_SVSVWY^a\[\S^^S\^[`WYW^[U[Z`^S\[_TW_XS[_WZW
XaZU[ZSWZ`[SZaSVW__`WSVWU[Z`^[\^[\[^U[ZSZX[^SUZVW`SSVSVW__`WS]aWW_`SZ_`SSV[WZWY^a\[
WWU`^YWZ[
Z`W^^a\`[^Sa`[`U[VW_SVSS^S\^[`WYW^SS`W^ZSV[^WbSZZ_`SSV[aZZ`W^^a\`[^Sa`[`U[VW_SVSSVWUaSV[\S^SW[VW[ YWZVW_SVSVWY^a\[WWU`^YWZ[_`WZ[`^[_
V_\[_`b[_]aWSaVSZSU[Z`^[S^SZ`WZW^WX[^SSa`[`USWU[^^WU`[XaZU[ZSWZ`[VW_[
WYaSUZVW[`[^^WYaSV[^VW[`[^W_aZV_\[_`b[
V_WSV[\S^SSZ`WZW^aZSbW[UVSVU[Z_`SZ`WVW[`[^U[Z^WSUZS[_^W]a_`[_VWUS^YSSbW[UVSVVW[`[^W_`S
V^WU`SWZ`W^WSU[ZSVSU[ZSX^WUaWZUSVW_SVSVWS`W^ZSV[^\[^[]aWUaS]aW^bS^SUZVWSbW[UVSVVW[`[^SXWU`S^SSS
X^WUaWZUSVWS\[`WZUSVW_SVS
8/6/2019 Grupos Electrgenos 2
8/19
UUW_[^[_Z_`SSTW_SaZY^a\[WWU`^YWZ[VW_VW[WZU[ZSV[SZ`W^[^WZ`WW_`WZ[`^[_V_\[_`b[_]aWZ[_SaVSZSU[Z`^[S^SZ`WZW VWX[^SSa`[`USWU[^^WU`[
XaZU[ZSWZ`[VW_[S^SS^WYaSUZSa`[`USVWSbW[UVSVVW[`[^_WW\WSaZS`S^W`SWWU`^ZUSVWU[Z`^[\S^SS_WSVWWZ`^SVS\Ua\ _SVSVWSU`aSV[^W\UW_aZV_\[_`b[SYZ`U[]aW_WZ_`SSa_`[WZWWZY^SZSW_`aSV[WZW[`[ W_`WS_abWW_`SSU[\SV[SWZY^SZSWVW[`[^VWS^^SZ]aW\Ua\VW`WU`SSbW[UVSVVW[`[^\^[VaUWaZS
_SVSVWb[ SWVWTV[S[bWZ`[VWWZY^SZSW]aW_WaWbWS
`^Sb_VWUS\[SYZ`U[VWS\aZ`SVW\U a\\[^[`SZ`[VWTWSTW^aZSU[^^WU`SV_`SZUSWZ`^WS\aZ`SVW\Ua\WWZY^SZSWVW[`[^SU`aSV[^_^bW\S^SU[Z`^[S^SbW[UVSVVW[`[^WZU[ZVU[ZW_VWUS^YSaSZV[SUS^YSW_aWWbSVS
SbW[UVSVVW[`[^SaWZ`S\S^S\^[\[^U[ZS^S\[`WZUS^W]aW^VSUaSZV[SUS^YSW_TSSSbW[UVSVV_ZaWW_VWU^WXaZVSWZ`[VWSU`aSV[^W_U[Z`^[S^VWX[^SSa`[`USW
^YWZVWbW[UVSVVW[`[^_ZSUWW^SU[ZW_T^a_US_YWZW^SZV[S\[`WZUSVW[`[^VWX[^SU[Z`ZaS[^SWZ`WWSU`aSV[^_WSU[\SSV_\[_`b[VWWZ`^SVSVWXaW[VW[`[
8/6/2019 Grupos Electrgenos 2
9/19
aSZV[aZY^a\[_WWZUaWZ`^SWZaZaYS^aS\S^`SV[VW[\W^S^[XaZU[ZSS_#[^S_VWVSW_ZWUW_S^[Z_`SS^aZ
WUSZ_[\S^S^W_`STWUW^WU[Ta_`TWYS_`SV[[Z_`SVW[_
_YaWZ`W_WWWZ`[_
[TSVW`^S_WY[_aZ[`[^WU`^U[VW##bUSWZW]aWbSSU[\SV[aZST[TS]aWW_SWZUS^YSVSVW_aZ_`^S^W
U[Ta_`TWSVW\[_`[ZST[SZVUSV[^SVWZbW[ZbWZ[aSZV[VW`WU`SaZZbWaTS[VWU[Ta_`TWWZ
WVW\_`[SU`bSST[TSVW`^S_WY[
^WUSVW[aSZV[S_U[ZVU[ZW_VWX^[WZWSTWZ`W_[ZZ`WZ_S__WV_\[ZWVWaZV_\[_`b[USWXSU`[^VWZ[ZSV[^W__`WZUSVW\^WUSVW]aWSaVSSS^^SZ]aWVW[`[^[_Y^a\[_WWU`^YWZ[_ WX^YW^SV[_\[^S^W_aWWZW\WS^aZ
^SVSV[^WU`^U[WUaS_W\[ZWVWTS[VW[`[ VW`SSZW^S]aWSZ`WZWWSUW`WSaZSUW^`S`W\W^S`a^SZ[_[`[^W_^WX^YW^SV[_\[^SYaSS^W__`WZUSVW\^WUSVWbSSU[\SVSS
U^Ua`[VW^WX^YW^SUZ\S^SUSWZ`S^W[`[
8/6/2019 Grupos Electrgenos 2
10/19
^^SZ]aWSZaS[
a`[`U[
8/6/2019 Grupos Electrgenos 2
11/19
^^SZ]aWSZaS_W\^[VaUWSZaW_`^Sb[aZ`SVW_`[]aW^WVWU^]aWUaSZV[]aW^S[_V_\[ZW^VWSWWU`^UVSV
YWZW^SVS\[^WY^a\[WWU`^YWZ[[S^W[_S^^SZUS^VW
X[^SSZaSYWZW^SWZ`WWSUU[ZSWZ`[VWS^^SZ]aW_W_aWW^WSS^WVSZ`WaZSSbWVWU[Z`SU`[[\a_SV[^VWS^^SZ]aWVWaZSUWZ`^S`SWWU`^ZUSU[Z`[VS_S_XaZU[ZW_
VWbYSZUSaZV[_W\^[VaUSaZUSWZ`SWZ`[VW[`[^UaSZV[XS`WU[Ta_`TW[UaSZV[S\^W_ZVWSUW`WVW[`[^_WSaTSSSUWZ`^S`S[VW`WU`S^S\S^SZV[W
[`[^Sa`[`USWZ`W ^^SZ]aWa`[`U[_`WZUWZ`^SW_Sa`[`US_]aW
XaZU[ZSZ`SZ`[WZ[V[SZaS[Sa`[`U[W_`S_UWZ`^S`S_[UaSV^[_WWU`^ZU[_VW`WU`SZaZXS[WZS^WVVW_aZ_`^[WU`^U[[TYSZV[WS^^SZ]aWZWVS`[VWY^a\[WWU`^YWZ[[^SWZ`WWZ[_Y^a\[_Sa`[`U[_
_WZ_`SSZUSS_\^WV_\aW_`S_]aWU[Z`WZWZT_USWZ`WaZ^WVW\S^[[`^[VWS^^SZ]aWSVW_VW`WZW^Z_`SSV[_WZWU[ZWU`[^`[V[_[__WZ_[^W_VWSS^S^W[VW[_]aWV_\[ZYSWY^a\[WWU`^YWZ[Z_`SSV[S\S^`WaZUaSV^[Sa`[`U[WZW]aWbSZZ_`SSV[_[_SUU[ZSWZ`[_VW
UST[VW^WVSY^a\[WWU`^YWZ[
8/6/2019 Grupos Electrgenos 2
12/19
SZ`WZWZ`[VW[`[^
aZ]aWUSVS[`[^ZUaWaZSZaSVW[\W^SUZ\S^S_aU[^^WU`[
SZ`WZWZ`[_WVW_`SUSZ[_S_\WU`[_\^ZU\SW_\S^SaZTaWZSZ`WZWZ`[VW[`[^
8/6/2019 Grupos Electrgenos 2
13/19
[Z`^[S^WZbWVWSUW`W[`[^VWTWW_`S^ZbWSV[[^[Z`SWZ`W_WVWTWS_WYa^S^]aWWZbWW_`SWZ`^WS_S^US_
VWSbS^SW[`[^W_`SUSWZ`W_WST^VWW_\W^S^WZ`^WZa`[_VW_\a_VW\S^S^W[`[
UW`W_X`^[_VWSUW`W W_\W`WWZ`W^bS[VWUST[VWSUW`W^WU[WZVSV[_a_``aSWX`^[VWSUW`WS_[`W\[Z[`[^W_\S^SV[_Z[]a`WW`S\ZZ`W^[^`UWaZST[TSVW
V^WZSV[VWSUW`W\S^SST_[^TW^WSUW`W \S^S_XSU[ZW_VWX`^[\S^S]aWZ[USYSVWZ`^[_aUWVSVS
Z_`SS^WX`^[ZaWb[
a`WW`S\ZZXW^[^U[ZaZSaZ`SZaWbS
a`WW[[_X`^[_U[\^aWTW]aWZ[]aWVSZS_aZ`S_WZW
[`[^
8/6/2019 Grupos Electrgenos 2
14/19
WZW[_ZaWb[_X ^[_U[ZSUW`WVW[`[^\abW^UWS_aZ`S_`[^ZWWX`^[SSZ[S_`S]aWSaZ`S`[]aWS__a\W^XUW_VW
U[Z`SU`[W_\a_Y^W[`^SWVSbaW`SW^[Z[_
SVSSUW`WS_`SWZbWU[^^WU`[[_[T^W\S_S^WZbWVWSS^US
^^SZ]aWW[`[^[\^aWTW]aWZ[SXaYS_VWSUW`WS^WVWV[^VWX`^[SVS__W_ZWUW_S^[
SYSXaZU[ZS^W[`[^S`W\W^S`a^SZ[^SVWXaZU[ZSWZ`[
`^[VWS^W [\^aWTW_a_``aSX`^[VWS^WVWTW_a_``a _WUaSZV[WZVUSV[^VWX`^[S_[ZV]aWY^SV[VW_aUWVSVVWX`^[VWS WVWSV_ZVW\WZVWVWSU[ZUWZ`^SUZVW\[b[WZ
WS^WVW SS[WWYV[VWX`^[[^[`SZ`[[_Z`W^bS[_VW\WSZ[_W\aWVWZYWZW^SS _Z[]aWW_\^WU_[VWXZ^[_\S^SUSVSUS_[ZVbVaS
8/6/2019 Grupos Electrgenos 2
15/19
[^^WS_VWWWWZ`[_SaS^W_[\^[TSUZSa_`WSZ_\WUUZSa_`WVWTWZ^WSS^_WVW_\a_VWSTW^XaZU[ZSV[W
[`[^UaSZV[S_U[^^WS_W_`ZUSWZ`W_X[W[_`[^Z[_SZ`W_VW`WZ_S^S_U[^^WS_VWS`W^ZSV[ S_U[^^WS_VWTW^ZUWVW^WZ`^WS_\[WS_S_U[^^WS_YS_`SVS_]aWXaZU[ZSZ\[^\S^W_VWTWZUSTS^_WS_[`W\[S_U[^^WS_VWbWZ`SV[ `WZWZaZ`WZ_[^Sa`[`U[Z[ZWUW_`SZSa_`WZWTS^Y[WW_`SV[
VWS_U[^^WS_VWTW_W^U[\^[TSV[
_`WSVW^WX^YW^SUZ__`WSVW^WX^YW^SUZVWTWWZS^_WU[ZaZ^WX^YW^SZ`W]aW\^[`WSW[`[^U[Z`^SSU[^^[_ZZ`W^ZSU[Z`^SSU[ZYWSUZ_WUS[WYWaZUSa`UWSYaS_[S[_SV`b[_SZ`U[^^[_Z_WSUWZWZ[_WXUSUW_U[ZW`W\[[^
`SZ`[W WX^YW^SZ`WVWTW_a_``a^_W__`WSVW^WX^YW^SUZVWTWSbS^_WS_a_``a^W^WX^YW^SZ`W[Z_a`WWZWSZaSVW
[`[^WSbSV[VW__`WSVW^WX^YW^SUZ
8/6/2019 Grupos Electrgenos 2
16/19
`^[VWU[Ta_`TW_a_``aUZ\WS[VWTWZWZ`^S^_aUWVSV[U[Z`SZSZ`W_S__`WSVWZWUUZVWU[Ta_`TWS_a_``aUZVWU[Ta_`TWVWTWWbS^_WSUST[U[ZW[`[^X^[\S^SWb`S^W^W_Y[VWZUWZV[USa_SV[SVW^^SS^_WU[Ta_`TW_[T^W_a\W^XUW_USWZ`W_a`W[_X ^[_aT^]aWSaZ`SVWX`^[U[ZaZ\[U[VWSUW`WZ^[_]aWWX`^[SSZ[S_`S]aWSaZ`S`[]aWS_a\W^XUWVWU[Z`SU`[W_\a_S\^W`W[`^SWVSbaW`S\W^[Z[_a^YaWW__`WSVWU[Ta_`TWW_YS_W
VWX`^[SZ`Ya[VWX[^SS\^[\SVS\S^S_aWZSUZ
8/6/2019 Grupos Electrgenos 2
17/19
06:04570;039;4/0:37:5400.97O034
[T^W]aWZ^WSS
[VW[
S^US
[^[W`^[
WUS
` U`bVSV [ T_W^bSUZ
`^[W_`Z\[_
# aTW^`SWZTaWZS_U[ZVU[ZW_
_`SZ]aWW_`SWZ[\^W_WZ`SXaYS_
SWXSU`[^XaZU[ZS
_`^aU`a^S_W`US_W_ ZWZTaWZS_U[ZVU[ZW_
[ZVU[ZW_VWU[Z`^[
[^Z[__aW`[_
bWVWSUW`W
bWVW
YaS [^WSbWZ`SV[^
WZ SV[^
# _`SV[VWTS`W^ST[^ZW_USTW_WWU`^[`[
\WS
`^[_
8/6/2019 Grupos Electrgenos 2
18/19
SZ`WZWZ`[VWS`W^ZSV[ a^SZ`WWSZ`WZWZ`[^a`ZS^[_W^WU[WZVSSS`WZUZ\W^VUSSW_`SV[VW[_VWbSZSV[_WZ
W_\WUSUaSZV[[_YWZW^SV[^W_SZW_`SV[ZSU`b[_Va^SZ`WaZS^Y[`W\[VW[_U[ZW`W_
S^S[_YWZW^SV[^W_U[ZW_U[TS__WST^VW^Wb_S^WVW_YS_`WVWS_W_U[TS_S\WSVW[_SZ[_^[SZ`W_aSZV[[_YWZW^SV[^W_W_`Z\^[b_`[_VWX`^[_VWS^W_W^W]aW^WaZS
Z_\WUUZSZ`WZWZ`[\W^VU[VW[__[_
8/6/2019 Grupos Electrgenos 2
19/19
[_`[_S_[USV[_
ZYWZW^SV[^\S^SaZSUS_SVWcS``_S\^[
ZYWZW^SV[^VWcS``_S\^[