The company's path walks together with the development of São Paulo. In 1899, a group of Canadian businessmen founded The São Paulo Railway, Light Power Company Limited, and in the same year, it was authorized to operate in Brazil.
In 1904, the Canadian group founded The Rio de Janeiro Tramway, Light and Power Co. Ltda. As from 1923, the companies started being controlled by the holding company Brazilian Traction Light and Power Co. Ltda. The group was restructured in 1956, having Brascan Limited as its basis.
In 1979, the Brazilian government, by means of Eletrobras, purchased the shareholding of the so-called Light-Serviços de Eletricidade S.A. from Brascan.
In 1981, the company was handed to the Government of São Paulo and changed its name to Eletropaulo - Eletricidade de São Paulo S.A.
With the privatization program, launched in 1995, Eletropaulo was restructured, giving rise to four companies: the distribution companies Eletropaulo Metropolitana - Eletricidade de São Paulo S.A. and EBE - Empresa Bandeirante de Energia S.A.; the transmission company EPTE - Empresa Paulista de Transmissão de Energia Elétrica S.A. (currently known as CTEEP) and the generation company EMAE - Empresa Metropolitana de Águas e Energia S.A.
With the spin-off, Eletropaulo Metropolitana was held responsible for distributing electrical energy to the 24 cities around the Greater São Paulo. In 1998, the company was purchased at a privatization auction by Lightgás, with shareholding among AES and the groups Eletricité de France (EDF), Companhia Siderúrgica Nacional (CSN) and Reliant Energy. In 2001, in a new shareholding, it started being controlled only by AES Corporation, one of the largest energy companies in the world.
In December 2003, AES and Brazilian Economic and Social Development Bank (BNDES) completed the debt restructuring of Eletropaulo's controlling companies - AES Elpa and AES Transgás - along with BNDES, which became an AES's member in Eletropaulo's capital, by creating the holding company Brasiliana de Energia S.A. AES became the holder of 50% plus one share in Brasiliana's voting capital and BNDES became the holder of 50% minus one share. Brasiliana, in turn, keeps its shareholding at Eletropaulo, previously held by AES.
On September 25, 2006, a secondary offer of 15,829,189,000 class B preferred shares (PNBs) issued by Eletropaulo and held by AES Transgás Empreendimentos S.A. was made at the price of R$ 85.00/1,000 shares. Upon raising the capital, after the full exercise of the green shoe, the pre-payment of R$ 1,289,175,618.64 was made with respect to the adjusted balance of debentures of Brasiliana Energia S.A. with BNDES on October 02, 2006.
On February 8, 2008, the proposal for grouping all shares issued by the Compay was approved at the Special Shareholders' Meeting (AGE), upon consent by the Brazilian Electrical Energy Agency - ANEEL. Thus, Eletropaulo adjusted the trading of shares issued by the Company to BM&FBOVESPA guidelines with respect to this subject matter.
As from April 1, 2008, the shares were grouped under the ratio of two hundred and fifty (250) existing shares to one (1) share of the same type. Upon completing the grouping, the Company's shares started being traded only through unit quote. Simultaneously to the grouping operation, the Company split the ADRs so that 1 additional ADR was assigned to each ADR. Thus, each ADR holder started holding, after altering and grouping shares, two (2) ADRs, each one representing one (1) share issued by the Company after the grouping.
At the Special Shareholders' Meeting held on December 20, 2010, the conversion of class A preferred shares to class B preferred shares was approved. Hence, the Company reinforces the commitment to the good Corporate Governance practices, conferring all preferred shares with the 100% tag along right, in addition to providing the increase of liquidity for former class A preferred shares.
As from December 21, 2010, the Company's preferred shares started being traded at BM&FBOVESPA under the ticker ELPL4. Thus, tickers ELPL5 and ELPL6 ceased to exist on the same date. Therefore, ELPL6 history is considered as ELPL4 preferred share.
In December 2015, a corporate restructuring involving its controlling company Companhia Brasiliana de Energia S.A. was completed, and as from January 1, 2016, Eletropaulo started being controlled by Brasiliana Participação S.A. by means of its direct and indirect (by means of AES Elpa S.A.) shareholding.
In November 2017, the Company concluded its migration to Novo Mercado, the highest level of corporate governance of B3, trading only common shares (ELPL3). In the same year, the Company's ADR program was closed.
In April 2018, Eletropaulo's Public Offer for Acquisition of Shares began, including the Companies Energisa S.A, Neoenergia S.A and Enel Brasil Investimentos Sudeste S.A.
On June 4, 2018, the auction for the acquisition of Eletropaulo’s control was completed, and, as a result, Enel Brasil Investimentos Sudeste S.A. acquired, at the price of R$45.22 per share, 122,799,289 common shares, representing, approximately, 73.4% of Company’s total and voting capital, including the treasury shares. During the selling period of the ramaining shares, 33,359,292 shares were also acquired by Enel, which, since July 13th, 2018, date of settlement of the last lot of shares acquired, is the holder of 93.3% of the share capital of the Company.
On September 19th, the Company's Board of Directors approved the Vapital Increase process, Whereby, Enel now holds 189,323,545 registered, book- entry common shares, with no par value, corresponding to 94.4% of the total and voting capital of the Company.
Since December 3, the Company's name is Enel Distribuição São Paulo.
Enel Distribuição São Paulo is the largest electrical energy distribution company in Brazil and Latin America in terms of energy supply revenue, pursuant to data from Brazilian Electrical Energy Distribution Companies Association (ABRADEE). The Company believes to have a set of competitive advantages enabling it to continually improve its operating and financial performance. Such advantages particularly consists of:
- Concentrated and Developed Concession Area - the Company supplies electrical energy to 7.155 million consumer units, encompassing the metropolitan area of São Paulo, which is the largest metropolitan area of the most developed and industrialized State in Brazil. In comparison to the concession areas of other distribution companies in Brazil, the Company's concession area has a high GDP index/per capita in a high population density, as well as one of the highest electrical energy consumption index per capita.
- Diversified and Growing Customer Base and Satisfied Customers - The Company's customer base has gradually been growing since the privatization, in April 1998, and the number of customers at the Company's concession area has been increasingly growing over the past few years.
- Experienced Management - The Company's directors and officers are broadly experienced in the electrical energy distribution and generation industry, both in private and public sector.
- High Quality and Reliable Service - The Company believes to provide a high quality service and a broad range of value-added services to its customers, such as energy efficiency programs, energy load management and electrical infrastructure services. The Company's high quality service is an important differential, as decreases its maintenance costs, improves customer satisfaction and helps to hold potentially free customers.
It is also worth mentioning the Company's commitment towards corporate governance and sustainability. Enel Distribuição São Paulo is listed at Novo Mercado of B3, trading of common shares and thus conferring all of its shares with 100% tag along right. In addition, the Company is part of the ISE (Corporate Sustainability Index) portfolio since its creation, in 2005.