Minas Gerais governor-elect rules out privatizing Cemig
Cleitinho Azevedo plans talks with the federal government over BRL 180 billion in debt.
Minas Gerais Governor-elect Cleitinho Azevedo has ruled out the privatization of 
Companhia Energética de Minas Gerais. In statements published on October 5, 2026, he pledged to open discussions with the federal government under either President Luiz Inácio Lula da Silva or Senator Flávio Bolsonaro to address state finances without selling the utility.
The State of Minas Gerais currently owes BRL 180 billion to the Brazilian Federal Union. The state makes monthly debt service payments of BRL 100 million to the federal administration under existing arrangements.
Cleitinho pointed to Cemig's financial strength as a reason to keep the company under state control. The utility recorded a net profit of BRL 4.9 billion for full-year 2025 and distributed BRL 3.5 billion in shareholder dividends from those annual results.
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