Good morning, ladies and gentlemen. Thank you for waiting. Welcome to our earnings release presentation for the first quarter of 2024 for Eletrobrás. Let me introduce you to our team. We have Mr. Ivan de Souza Monteiro, our president, our CEO, Mr. Eduardo Haiama, our VP of Investor Relations, Mr. Rodrigo Limp, the VP of Regulations and Institutional Relations, Mr. Elio Wolff, VP of Strategy and Business Development, Mr. Italo Freitas, VP of Trade and Interim VP of Expansion, Mr. Antonio Varejão de Godoy, VP of Operations and Security. We also have Mr. Marcelo de Siqueira Freitas, our legal VP. This conference is being recorded, and the replay will be made available on the company's IR website, where you can also find the slide deck in Portuguese and English. If you need simultaneous translation, please click the language interpretation button at the bottom of your screen and choose the language you prefer. You can choose either Portuguese or English. For those listening to the video conference in English, you can mute the original audio in Portuguese by clicking Mute Original Audio. For the Q&A session, please submit your questions using the Q&A tool located at the bottom of your screen. Your name will be called, and a request to activate your microphone will pop up on your screen for you to ask your question live. Please write "No microphone" at the end of your question should you prefer that, so that our operator can read it. Before proceeding, we would like to inform that any forward-looking statements that may be made during this conference call regarding the company's business prospects, projections, operational, and financial goals are based on the beliefs and assumptions made by Eletrobrás's management, as well as on information currently available to the company. Forward-looking statements do not guarantee performance, as they involve risks and uncertainty, and therefore rely on circumstances and things that may or may not happen. Investors should understand that general economic conditions and other operating factors may have an impact on the results that we see in these forward-looking statements. Now I would like to hand it over to Mr. Ivan de Souza Monteiro, our CEO, so that we can begin our presentation. Mr. Ivan, please go ahead. Good morning. Thank you for being here for our earnings release presentation for the first quarter of 2024. On behalf of our board, we need to say that we feel very sorry for what is happening in Rio Grande do Sul. Our company is talking to the authorities in that state, and we are making ourselves available to help them however they need our help. Now let's talk about our results. We had less impact of non-recurring factors in this quarter, which is something we want. We want to have a company that has foreseeable results. We want shareholders and other stakeholders to know that their relations with us and everything they know will have an impact on the company, its income, and its profitability, so we had minimal impact from non-recurring items. We know that what we got from compulsory loans have an impact on the company. We have BRL 16 billion in provisions, but we have a reduction in this trajectory because we started at BRL 23 billion. Now let me talk about revenue, especially regarding generation. We had three highlights here. First, the reduction of power prices. Of course, this has a reduction on the revenue for generation. We also have Candiota. We want 100% of its generation with renewable energy, with clean energy, and we're working on its sale. What also had major impacts on us was delinquency from Amazonas Energia. Our company has been working on trying to get these credits. This is a lot of volume. We're talking about BRL 10 billion in delinquency. This distributor does not make payments to Eletrobrás or has not made any payments to Eletrobrás since December of last year. So, of course, we're going to court, but we're also talking to ANEEL and to the Ministry of Mines and Energy. We're looking for a solution for this problem together. This is a serious matter that has had an impact on us to the amount of BRL 400 million. For transmission, we are tied to the IPCA index, and we are focusing more on CapEx. We have stable revenue for transmission with slight growth. However, this is a focus for our CapEx, and I'm going to be talking about this later. For expenditures, we have ongoing reduction of our PMSO. We now have recurring levels with our performance in the first quarter, and we expect BRL 6.3 billion in this year. Our goal is to have 2026 with a PMSO of around BRL 5 billion, a recurring PMSO. This is what we're looking for. Something major we're discussing now is the renewal of the collective bargaining agreement. This is the first one that will be discussed with Eletrobrás as a private company. We also have our participation in the transmission auction. We were working with sets of BRL 5.6 billion and an expected RAP of BRL 590 million. We're improving this process, and we expect to conclude this investment program at a lower value and with quicker deployment times, which makes for better revenue from this investment because this revenue will be available to us sooner. Now we have two other highlights. We had the issuance of bonds, BRL 5.5 billion. These bonds are going to mature in five and seven years. This has to do with a reduction of our total debt. However, importantly, at the same time, we're working on waivers from past issuances. Even this one. Haiama will be talking about this later. So we are reducing covenants, and we are using a very standardized approach for the general conditions that are applied to every bond, to every investment. For the previous ones, we got the waivers too, and we used the same standards. For the divestment process, we are still very committed to our divestment efforts. This is something that has piqued our interest, and we are focusing on completing this process in 2024. For the first time ever, we also had a leadership meeting. We had all of our leaders in Rio de Janeiro. We had over 500 people here. It was a two-day, in-person meeting in Rio de Janeiro where we were able to talk about the company's strategy, our culture, the kind of leadership we expect to have, and we got very positive feedback. I'm also very happy to say that we had our first-ever trainee program. We had over 14,000 people who enrolled. We chose 38 young people who already started working at Eletrobrás, and they are very excited. Finally, I would like to say that we finished the restructuring of our trading department. Eletrobrás is looking forward to having a lot of customers. So by developing our trading department, we're going to do that. This is established in the city of São Paulo, and we expect to reap the fruit of the creation of this team, which I'm sure will be very good for Eletrobrás. Now let me hand it over to the next speaker who will be talking about the next part of the presentation. Thank you. Good morning, ladies and gentlemen. Moving on to slide number five, let me go into details about these highlights. Here we have four pillars. First, we want to make our structure simpler. We also want to change our culture, and we want to make our ESG agenda stronger. And then we have finances. Finally, we can talk about transmission auctions. Right now, we are paying BRL 1.3 billion in dividends, according to the approvals we got in the last general meeting. So let's talk about simplifying our structure. As Ivan was saying, right now our cost is BRL 6.4 billion. So this is a decrease compared to the previous year, around 10%, and 12% compared to the last quarter. We're also hiring people. We're renewing our group of employees, and we have many other initiatives to improve our management, so we're going to see changes in this year in this number throughout the year. However, we're keeping to what we expected, which was around BRL 7 billion for this year. And as Ivan said, for 2026, we expect BRL 5 billion. On slide number 7, we can talk about cultural transformation. First, we made lots of progress when it comes to attracting people. From July 2023 to April, we hired 1,100 people. Attracting people has to do with how we look at the future. We're trying to renew the company. We're trying to drive results. We reviewed our career plan. As Ivan was saying, we had our first-ever trainee program. 38 people were hired as trainees, and we expect another 50 trainees to join our company for every year in the future. Out of these 38 people, all of them were hired, but we had over 14,000 people who registered to be a part of this program, so this goes to show that we are indeed attracting people who want to be a part of this cultural transformation. Now, regarding the ESG agenda, a big highlight is that we released a sustainability report. We sold Candiota, which is a thermal power plant. We had 96.5% of renewable sources in 2023. We had BRL 1 billion in investments to decarbonize the legal Amazon region and to revitalize our basins. When it comes to engagement and our reputation, we improved our corporate reputation in the power industry in Brazil. Now let's talk about debt. As Ivan was saying, for the first time, we created our first debt through coordinating with all of our companies. We standardized this bond, and we got to much better rates than what we had received in the previous year. So we went from BRL 5.5 billion - BRL 5.4 billion. We had IPCA. And for the other one, we had another spread. So this goes to show that the company is powerful right now and is able to improve its capital structure over time. On slide number 10, when we talk about the transmission auction, we had an average disallowance of 40.78%. When these lines are ready and operating, this is going to represent an investment of BRL 5.6 billion. We always knew that we were competitive in these auctions, either because we're looking for lots of synergy with our current operations or because we're trying to improve our CapEx. So every auction gets better. We're improving our performance. And for capital costs, we know that we're second to none. So we see that in these auctions, we had four different sets of auctions, and we did really well in the last two. So we see the results of that on slide number 12, and we do believe that this is going to be one of the pillars of growth. Let's talk about growth in transmission over time. If we put together the auctions that we got in 2022, 2023, and now 2024, and all the improvements that we mentioned and that have already been approved by ANEEL, and also relying on the completion of Transnorte connecting Manaus to Roraima, our RAP for transmission, our annual allowed revenue for transmission, will probably grow around BRL 2 billion. Our total investment will be BRL 16 billion, according to the ANEEL criteria. On slide number 4, we can talk about the RAP periodic review, the RTP. When we compare the numbers of our RAP from 2023 to 2024 and the one for 2024 to 2025, we would have a reduction of 13%. We expected this reduction according to ANEEL's methodology. And the refund, because of how the 2023 review was postponed, we expected this impact. It's not going to be neutral. We expected a decrease. But on the other hand, we have an increase of our RAP, as I said in the previous slide. We were doing the works to reinforce and improve our lines, and this creates an increase in our RAP. So we would go from BRL 738 million to BRL 1,158 million. This is still preliminary numbers, but we are going deeper into this analysis. On slide 16, we talk about generation. We talk about generation. So we saw that in the previous quarter. We would have to take prices into account. So BRL 189 million was the average price for the previous quarter. And we were one quarter late. This would have been the prices for the fourth quarter for the 2024 prices. From then on, then we have this range. You can see that we work with ranges now. We can also think about the total volumes that are bought. For the next years, we have ranges as well. We start these ranges with the bottom of the last numbers that we had in the fourth quarter because we believe that this is very important information for us as a company. It's important to mention that we made lots of progress with these contracts when we look at 2024 numbers. We now have more financial information on slide number 18. We prefer to look at regulatory numbers because they are closer to what is the actual cash generation. Our gross revenue grew 8% compared to the previous year, the first quarter. For our EBITDA, if we use these regulations and if we take into account non-recurring events, we had a 5% growth. In our IFRS net income, because this is the calculation basis that we use for dividends, then we had a decrease, but especially because of adjustments that we had to make regarding transmission, which could lead to fluctuations for the accounting income. On slide number 18, we can understand or actually 19, we can understand costs better. As I was saying, our costs went down compared to the previous year, even compared to the fourth quarter. But this number is still going to fluctuate a bit throughout this year, not only because of the contracts we're working on, but also because of other restructuring costs that we'll face. That includes improving systems, improving infrastructure, and other things that are important for us to have better, more agile management. For slide 20, looking at the provisions, we have to highlight what was mentioned before, so the main one. It's the issue of the reversal that we had when it came to compulsory loans, and it was BRL 440 million. Another one that is important to mention, it is the bad loan provision. It was highly impacted, not just when it comes to revenue in Amazonas. It was almost BRL 80 million reais. There's also the highlight of BRL 66 million, and that is highly concentrated in the generator. If we go to slide 21, we're talking a little bit about compulsory loans again. We were able to reduce it, remembering that in the fourth quarter, that provision was in BRL 17 billion, and now it's down to BRL 16 billion. So still increasing our risk. We're able to secure good negotiations. The expectation is that we're able to continue to do this throughout the next quarters and years. I want that this line becomes more insignificant in our total balance. Slide 22 talks about leverage. Our leverage didn't move very much since December, remembering that this number still is not counting the payables of dividends that we're paying today, so BRL 5.5 billion. Looking forward, we highlighted that the resources that have come in are not included. We did extend the debt of 2024. How do we see this? The cash itself is reported in BRL 17 billion, but when you consider that we had BRL 5.5 billion coming in and we paid BRL 3.4 billion that you see in yellow in 2024, the balance now has been extended till after 2029. It's an important extension with competitive rates, as I had mentioned before. Finally, slide 23, I'm not going to go into deep detail here, but it's something that we are exercising this internally, where we're looking not only at results when it comes to details, but also the cash flow directly. So we can more and more understand each one of those items. So we talk about the regulatory EBITDA, which we understand is the most correct one, and then we deduct each one of those items that impacted our net cash throughout the quarter. It could be when it comes to payments, the revitalization of Amazônia, of the basins based on the investment of BRL 1.8 billion, the service of the debt that we incurred throughout this time. So with that, I think we can wrap up and go on to the question and answers. Now we are going to start our Q&A session. We would like to ask to please ask all questions at once. To ask questions, please use the Q&A tool at the bottom of your screen. Your name will be called, and a request to activate your microphone will pop up on your screen. Once that happens, you can ask your question live. Alternatively, please write "no microphone" at the end of your question, and our operator will read it. Please wait as we collect all questions. Our first question comes from André Sampaio from Santander. We will open your mic so that you can ask your question. Please go ahead. Please, Mr. André Sampaio, can you please open your microphone? Hi everyone. Sorry, now I got the pop-up. I would like to ask something that you've talked about, but I would like to get more details when it comes to the tariff regulation of the transmitters. We felt positively surprised here when it comes to the RAP, and so therefore the economic results as opposed to what had been demonstrated by companies beforehand. So if you could please speak on that, what may have led to this positive surprise of the RAP and our economic results, I think that would be important. Thank you for your question. I'm going to ask Rodrigo Limp. Thank you, André. Thank you for your question. Good morning, everyone. I just want to clarify some things. I think that I've been asked a lot of questions. The numbers released by ANEEL are still very preliminary. There's still the contribution phase of it, and we will make contributions. There's still the overseeing part of the process, and this is what we presented to ANEEL before that revision. Some points that I think are important and talking about the surprise that we also felt is to separate the financial and the economical part. Based on the ruling, we have to come to a 08 years after we received. So that would be for us 2028. When it comes to the economical component, it's a little bit different when it comes to what ANEEL asked. So when there's non-depreciated assets, there is a revenue associated to that installment. For example, if we talk about the lots, we have a relevant value close to BRL 2 billion. And when it comes to depreciation, the expectation is that it will generate revenue till the end of the concession. We're still not finished wrapping up all contributions, but based on ANEEL's methodology, we are in line with what's being asked of us. But we need to remember that numbers are still preliminary. There's another public tender that's happening in parallel. There's the O&M, still not concluded by ANEEL. It's a sum of processes that are ongoing. We also see the one that's bringing the remuneration basis and the discussion of the financial component. It's a separate press process. We don't have the exact date of that trial. If that happens by June, it will come into effect as of the next cycle. About the remuneration base, we had that report from 2018, and it was updated with the most recent value that was considering depreciation to the assets throughout the last cycle, and that generates a change in the depreciation rate in the average. So as far as methodology goes, we are within what's expected. We still have some questions about some numbers, some points that we have to contribute. In the public tender, we have lots of spreadsheets, but there will be different numbers. I think that things are happening within what we expected. I'm not sure if that answers your question. Yes, it does. Thank you very much. Thank you. Thank you very much. Our next question comes from Maria Carolina Carneiro from Safra. Good morning. I have no microphone. I have two questions. Number one, prices and amounts sold in 2024 seem attractive, even above levels of the seed and bricks. This environment of business with liquidity is going to continue for the first and second quarter now, or should we expect a less liquid revenue in the next wet period? Second, with capital allocation, considering the selling of the thermal plants that are ongoing, are there expectations for participations in other assets like CP and EP? Will you participate in the reservoir auction, or are we waiting to finalize discussions before we can anticipate CDE when it comes to CTEEP? We're maybe expecting more elevated cash demands if that deal is closed. Right, Carol. Thank you for your question. So the first one, I'm going to give to Italo, please. Thank you, Ivan. Good morning, Carol. Without a doubt, this last quarter brought a situation that was a low in the wind energy in the northeast. It was decreased significantly, especially in the last few months. There was also, at the beginning of the quarter, a reduction of our reservoir levels. At the same time, we had a good amount of rain at the end of the quarter that increased the reservoirs in the north. That gave us a good increase that was relevant and the southeast reservoirs as well. It wasn't as significant as in the north, but it happened quickly. Obviously, we're in a dry period now of our process, and that pressures the price. And that's what we see in the next few months until we resume the wet period. So relatively high pressure until we can resume that wet period in the next cycle. So that is the vision that we have of the market. Obviously, the question of what is happening now in the south really pushed prices up because of the reservoir in the south. The southern reservoir has a higher variability. But now, because of the rains, we have higher levels as well. But we have a less liquid market until the end of the dry period. That's our vision. Thank you very much, Carol. Regarding the last two questions, I wanted to comment on something. When you talk about liquidity, I wanted to highlight two situations that were very interesting. The first one, as has been mentioned, the fundraising of BRL 5.5 billion in bonds, not only for subsidiaries but for the hold as well. And now also thinking about the old instruments of the bonds because the similarity is now giving us more opportunities to increase our asset portfolio. Because you're talking about the thermal plants, I'm going to ask our Vice President Elio to contribute now. Just to ask a question about CTEEP. We can't talk about that. When it comes to thermal plants, objectively, the process is evolving as we've been talking about in the last calls. Our expectation is that we, in fact, announce and conclude this transaction throughout 2024. It is very attractive for all of our assets. It's a varied portfolio. In general, this is still evolving. I believe that we can still close the process till the end of 2024. When it comes to other assets, what we're still prospecting, of course, is our strategy to simplify and then to uncross the assets with partners. We're still prospecting and working on this continuously. This is what we did do in 2023 as well. Thank you very much, Elio. You also mentioned talks with the government reiterating that we participate in the conciliation chamber and that I have to remind you that it is all confidential. We have another question from Maria Carolina. If I can ask another question. When it comes to Amazonas, what are the next steps that you can take to try and solve this? Okay. When we talk about regulation, are we planning to do anything with the Ministry of Mining and Energy? So, Carol, as I said at the beginning, we are taking every legal measure possible. We're asking for the credits that are related to delinquency. And we're working with ANEEL and with the Ministry of Mining and Energy. So I'm going to ask VP Marcelo to talk about the legal issues, and then Mr. Rodrigo will be able to talk about the regulations. Thank you, Iva n. Thank you for your question too. Right now, we have proceedings against Amazonas Energia to over three-fourths of the total debt. So we are trying to collect. And Eletrobrás is very active when it comes to this issue. But yes, after this step, we're going to be a bit blunter when it comes to the legal proceedings because we want to stop this delinquency, we want to be able to collect, and we want to be paid for their past debt. Thank you for your question. Yes, this is one of our biggest priorities in the short term, as Ivan was saying at the beginning. This distributor spent a while paying everything it owed. Then in November, they went back to being delinquent. We haven't received any payments since December. We are following different paths here. As Marcelo said, we have legal proceedings in place, and we have regulatory proceedings in place. We're taking specific action to try and mitigate our exposure to Amazonas. We made some progress in 2023. We were able to transfer receivables from CCEE directly to Eletrobrás. However, we are subject to exposure from Amazonas for some segments and for those we don't have any revenue coming in. Last week, we were talking about additional resources being received from CCEE directly to Eletrobrás. The reporter will be evaluating this. This has to do with power contracts. Amazonas receives resources from subcontracting from CCEE, even for the contracts that we have with Eletrobrás and Eletronorte. We're also talking to the Ministry and ANEEL. In February, they published a report regarding the Amazonas distributor. They proposed some options, and they all involve transferring the control of this company, either through negotiations or through a maturity period, or even through interventions. In this report, they say the same thing that we believe in, that for a new controller, they need more flexible regulations, and these rely on legislation. This is what the Ministry indicates in this report along with ANEEL. So we expect to see proposals to make this more flexible, to make regulations more flexible, to make it possible for a new controller to come in. Because after the maturity period, what we saw is that the new controller is not really able to control these services, which could even have an impact on the quality of power supply in the future. And we can see that there's a big concern when it comes to that, both from ANEEL and the Ministry of Energy. So we expect to make progress in the short term when it comes to changing the management of this company. We want to receive these funds, and we are entitled to them. We have a purchase contract, and we've always met our end of the contract. Great. Thank you. Next question from Mr. Henrique Peretti from JP Morgan. Please go ahead. Hi, good morning. Two questions. Let me ask about supply and the price of energy. This is more of a strategic question. Yesterday, we saw the results of an auction in Chile, and the price was $56 per MWh plus $20 for systemic costs. So we're talking about $76. In the US, we're talking about $30, $40, $50, but in Brazil, we're talking about $20 per MWh. Of course, you can't just transport energy everywhere, and you can't control supply. However, I do believe there's lots of opportunity on the demand side. We can talk about electrification, about green hydrogen, about data centers. So my question is, are you looking at the creation of supply or demand, actually, for energy in Brazil since energy is so cheap in Brazil? At Eletrobrás, you have a 24/7 operation, so there's no problem with transportation or intermittency. So this could be an opportunity right now. Can we use this? Can we use electrification to increase demand and to find better prices? My second question has to do with an agreement with the government. Could you add the conversation about Amazonas in this larger agreement? Hi, Enrique. Thank you for your question. We have three different things to talk about here, and I will be asking our VPs to talk about them. Yes, data centers, green hydrogen, and the electrification of important industries in Brazil are things that we are keeping an eye on. And this is certainly going to drive demand up, but let me hand it over to Italo. Hi, thank you. Do you have a full day for us to discuss this question? Well, jokes aside, we are focused on this. We know that we need to drive demand up in Brazil, or we need to create demand in Brazil. The trading structure that we have put together has a department that looks into bringing demand to Brazil. We're a part of this conversation not only domestically but also internationally. We can think about demand related to this industry and related to the new green economy. For instance, you mentioned green hydrogen and other biofuels. Of course, many memorandums of understanding have not been disclosed yet, but we have been signing many of them. First, we need to look for partnerships with the potential clients of green fuels. And then after we have a partnership with consumers, our off-takers, we can then develop projects that are going to be a part of this conversation. With our board, we were able to approve a strategy for green hydrogen and its byproducts. We disclosed it three or four months ago. This is what Eletrobrás wants. As you were saying, hydroelectric power plants are considered renewable. This even caters to European Union rules. This is one of the only kinds of energy where you have renewable energy 24/7, and it's stable and competitive. Eletrobrás knows that. We have a structure of hydropower, and this is going to be important in the world when we think about increased demand in the green economy. Of course, we're very interested in bringing this new demand in with new customers. As I was saying, we need partnerships with these customers. We need to know who the off-taker is going to be, and then we need to move on to projects to cater to this demand. Thank you. Regarding the second question, I would like to stress that we can't make any official comments, but we are still a part of the conversations with the conciliation chamber, and everything we discuss there is under an NDA. Thank you. Our next question is from Mr. Daniel Travitzky from Safra. Please go ahead. Good morning. Thank you for taking my question. First, let me talk about transmission auctions. We saw significant activity from this company in the last auction. So what do you expect for the next auction? Do you want to be a part of it? Also, could you please talk about some of your assumptions regarding CapEx, margin, and implementation deadlines? We just want to understand where you stand and how this translates into numbers. I also have another question regarding Angra 3. Do you have any news on this? Any ballpark for the tariffs? I would love to get an update on this project. Thank you, Daniel. Regarding transmission auctions, I'm going to ask Vice President Elio and Vice President Camila to talk about this. Hi, good morning, Daniel. Thank you for your question. Let me go back in time. This is our third auction after the post-capitalization. As you were saying, we see evolutions. The results that we saw in March are actually results from 1 year 1.5 years ago. So we're making progress not only in processes but also in supplier relations, which brings us more competitiveness. Moving forward, this is certainly going to be on our agenda. Transmission auctions are something that is ongoing as business development at Eletrobras. We're already thinking about the auctions in September. We have four sets. One of them is going to be subdivided: $4.5 billion. Of course, we're looking at it, and over time, we're going to decide how we are or we are not going to be a part of it strategically. If we do believe that this opportunity will bring value to the company and that we're competitive and interested enough, then we're willing to be a part of it. Now, when we think about 2025 and 2026, we expect to see another $20 or $25 billion in auctions. This is also something we're assessing. This is in our pipeline. So this is what I have to share regarding these auctions. Camila? Hi, good morning, Daniel. Regarding Angra 3, specifically because of our investment agreement, we're seeing news, especially regarding the research from the BNDES, which is to be disclosed in July, I think. Then we have a review by EPE regarding tariffs. Then right after that, tariffs will be approved by the CNPE. Recently, we saw a document from the Federal Accounting Court with 2021 numbers and a set of recommendations. Now we have a workgroup that is analyzing the information published by the Federal Accounting Court so that this is replicated in the Angra 3 project. We're doing that as we speak. We are following up closely on what is published by the BNDES. Thank you. Our next question is from Mr. Roberto Lira from Plural. Please go ahead and unmute. Please go ahead, Mr. Roberto. There we go. We have Mr. Roberto here. Hi, good morning. I apologize. I have a question regarding the process for the mediation and conciliation chamber. I know you can't go into details, and I know there's secrecy here. But has there been any progress because the deadline has been extended for a month? Have you seen any progress? Do we see something good on the horizon for this company? Hi, Roberto. I apologize, but we can't make any comments because everything is under secrecy. No problem. Thank you. Our next question is from Mr. Marcelo Sato from Itaú. Mr. Marcelo, please go ahead. My question was also about Angra, and it has already been answered. Thank you. Thank you, Marcelo. Thank you. Let me now hand it back over to Mr. Ivan de Souza Monteiro for his last closing remarks. Thank you, ladies and gentlemen. Our investor relations department is always available to you. Thank you for being here today, and enjoy your day. This is the end of the Eletrobrás earnings release presentation. Thank you for your time, and enjoy your day.