Companhia Paranaense de Energia Stock Price, News & Analysis
Company Description
Companhia Paranaense de Energia – Copel (historically traded on the New York Stock Exchange under the symbol ELP) is an energy company whose corporate purpose is centered on the research, production, transformation, transportation, storage, distribution, and trading of energy. According to its bylaws, Copel focuses principally on electrical energy, fuels, and energy raw materials, and may also operate in related infrastructure and services. The company is organized as a publicly held corporation under Brazilian law and is identified in English as the Energy Company of Paraná.
Copel’s bylaws state that the company may research and study energy sources from technical and economic perspectives, construct and operate facilities for energy production and transformation, and manage transportation and distribution systems. The corporate purpose also covers the study, planning, design, construction, and operation of dams, reservoirs, and projects aimed at the multiple use of water resources. In addition, Copel may provide services in the energy business, energy infrastructure, information, and technical assistance regarding the rational use of energy, subject to prior authorization from its Board of Directors.
Beyond core electricity activities, Copel’s bylaws authorize it to carry out activities in the fields of energy generation, electronic information transmission, communications and electronic controls, mobile telephony, and other activities of interest to the company. For these purposes, Copel may participate in consortia, companies, and public bidding processes for new or existing concessions, including with majority or controlling interests, as long as such participation is authorized by its Board of Directors. The bylaws also allow Copel to form subsidiaries, assume corporate control, and participate in the share capital of other entities when needed to pursue its corporate purpose.
Copel’s principal place of business and legal venue is in the city of Curitiba, in the State of Paraná, Brazil. The company’s bylaws specify that it is a publicly held corporation with indefinite duration, and that it may establish branches, agencies, subsidiaries, and offices in Brazil and abroad to support its operations. The bylaws further indicate that Copel is subject to the rules of B3 S.A. – Brasil, Bolsa, Balcão and, following its entry into the Novo Mercado segment, its shareholders, administrators, and members of the supervisory board are subject to the Novo Mercado Regulation.
Historically, Copel’s shares and depositary receipts have been listed on multiple markets. Company disclosures reference trading on B3 in Brazil under tickers such as CPLE3, CPLE5, CPLE6 and CPLE11, on the New York Stock Exchange under symbols including ELP and ELPC, and on the Latibex market under tickers such as XCOP, XCOPO, XCOPU and XCOPA. A company communication also notes that Copel migrated to the Novo Mercado segment of B3, with its shares consolidated into a single class of common shares traded under the code CPLE3, as part of an effort to maintain a simpler and more transparent corporate structure.
Copel’s historical background includes its founding on October 26, 1954, with ownership control held by the State of Paraná. The company went public in April 1994 on the São Paulo stock exchange (then BM&FBOVESPA) and, in 1997, became the first company in the Brazilian electricity sector to be listed on the New York Stock Exchange. It later obtained a listing on Latibex, the Latin American segment of the Madrid Stock Exchange, and its shares were ranked at Level 1 of the São Paulo stock exchange’s corporate governance segment as of May 7, 2008, according to earlier descriptive information.
Copel’s corporate purpose, as set out in its bylaws, emphasizes sustainable development and the multiple use of water resources. The company is authorized to provide solutions for sustainable development in connection with energy projects and to consider social and environmental impacts when evaluating participation in consortia, companies, and concessions. This framework reflects a broad mandate that covers not only energy generation and distribution but also associated infrastructure and services that support rational and efficient energy use.
In addition to its operational activities, Copel’s disclosures highlight its status as a publicly held corporation registered with the Brazilian Securities and Exchange Commission (CVM) and filing annual reports with the U.S. Securities and Exchange Commission under Form 20-F. The company has also communicated corporate governance developments, such as the migration to B3’s Novo Mercado and adjustments to its share capital structure, including the existence of a special class preferred share held exclusively by the State of Paraná with specific rights and veto powers on certain matters defined in the bylaws.
For investors analyzing the historical ELP stock, it is important to note that a Form 25 filing dated December 29, 2025, indicates the removal of a class of Copel’s American Depositary Shares from listing and/or registration on the New York Stock Exchange. This filing relates to American Depositary Shares representing Class A preferred shares. Subsequent company filings continue to reference Copel as a Form 20-F filer and identify trading of its common shares on B3 and depositary receipts on foreign markets, so ELP is best understood as the historical NYSE symbol associated with Copel’s U.S.-listed securities.
Business activities and corporate purpose
According to Copel’s bylaws, the company’s corporate purpose includes:
- Researching and studying energy sources from technical and economic perspectives, with a focus on sustainable development.
- Researching, studying, planning, constructing, and operating facilities for the production, transformation, transportation, storage, distribution, and trading of energy in any of its forms, principally electrical energy, fuels, and energy raw materials.
- Studying, planning, designing, constructing, and operating dams and reservoirs, as well as other projects aimed at the multiple use of water resources.
- Providing services in the energy business, energy infrastructure, information, and technical assistance regarding the rational use of energy and business initiatives, subject to prior authorization by the Board of Directors.
- Carrying out activities in energy generation, electronic information transmission, communications and electronic controls, mobile telephony, and other activities of interest to Copel, with Board authorization.
This broad corporate purpose allows Copel to operate across multiple stages of the energy value chain and to participate in related infrastructure and communication activities where they align with its strategic objectives and receive appropriate corporate approvals.
Capital markets presence and governance
Copel is a publicly held corporation registered with the CVM under registration number 1431-1 and identified in Brazil by NIRE 41300036535. Company filings show that its shares have been traded on B3 under various tickers, and that depositary receipts have been listed on the NYSE and Latibex. A company notice dated December 22, 2025, states that Copel completed its migration to the Novo Mercado segment of B3, a listing segment associated with higher corporate governance standards, and that, as a result, the company would have only common shares traded under the code CPLE3.
The bylaws also describe Copel’s share capital structure, including common, nominative, book-entry shares without par value and a special class preferred share held exclusively by the State of Paraná. This special share grants specific rights, including priority in capital reimbursement in the event of liquidation and veto powers over certain bylaw amendments and decisions related to the company’s corporate name, headquarters location, voting concentration limits, and investment plan authorization under defined conditions.
Historical context of ELP on the NYSE
The historical ELP ticker on the New York Stock Exchange is associated with Copel’s American Depositary Shares. A Form 25 filing dated December 29, 2025, submitted by the New York Stock Exchange, notifies the removal from listing and/or registration of American Depositary Shares, each representing four Class A preferred shares of the Energy Company of Paraná. This indicates that this particular class of securities was delisted from the NYSE under Section 12(b) of the Securities Exchange Act of 1934. Other company filings around this period continue to reference Copel’s status as a Form 20-F filer and its listings on B3 and Latibex.