The creation of Centrais Elétricas Brasileiras S.A. – Eletrobras was proposed in 1954 by the President Getúlio Vargas. The project faced a huge opposition and was only approved after seven years of legal procedures in National Legislature. The Company settlement occurred officially on June 11, 1962, in a solemn meeting of the Electric Energy and Water National Council, in Laranjeiras Palace, in Rio de Janeiro, with the presence of the President João Goulart (1961-1964).
Amongst its attributions, Eletrobras was tasked with the preparation of studies and with drawing up construction projects for hydroelectric generation, transmission lines and substations to supply Brazil increasing power demand, contributing decisively to the country development. Over time, the company became a holding and it controls Eletrobras CGTEE, Eletrobras Chesf, Eletrobras Furnas, Eletrobras Eletronorte, Eletrobras Eletronuclear and Eletrobras Eletrosul, companies that generate and transmit electricity in every Brazilian state.
The institutional reorganizations and the privatizations throughout the 90’s led the company to lose some functions that, therefore, have changed the Eletrobras’ profile. At that time, the Company acted, too, on the electric energy distribution, by means the Distribution Companies - Eletrobras Ceal (Alagoas), Eletrobras Cepisa (Piauí), Eletrobras Ceron (Rondônia), Eletrobras Eletroacre (Acre), Eletrobras Boa Vista Energia and Eletrobras Manaus Energia.
In 2004, the new regulation of the electric sector excluded Eletrobras from the National Privatization Program (PND). Acting throughout the country, the companies of Electrobrás group have installed capacity to produce 38,111 MW, including half the Itaipu installed capacity that belongs to Brazil. There are 57,261 km of transmission lines, representing more than 57% of the national total, 29 hydroelectric plants, 15 thermoelectric and 2 nuclear plants.