FORM 6-K

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C.  20549

REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16 OF
THE SECURITIES EXCHANGE ACT OF 1934

For the month of December 2008

Commission File Number 1-15224

Energy Company of Minas Gerais

(Translation of Registrant’s Name Into English)

Avenida Barbacena, 1200

30190-131 Belo Horizonte, Minas Gerais, Brazil

(Address of Principal Executive Offices)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

Form 20-F  x  Form 40-F  o

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): o

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): o

Indicate by check mark whether by furnishing the information contained in this Form, the registrant is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.

Yes  o  No  x

If “Yes” is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b):  N/A

Index

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SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

Date:  December 11, 2008

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COMPANHIA ENERGÉTICA DE MINAS GERAIS – CEMIG
Listed Company
CNPJ 17.155.730/0001-64
NIRE 31300040127

SUMMARY OF MINUTES OF THE 445TH MEETING OF THE BOARD OF DIRECTORS

At its meeting held on November 18, 2008, the Board of Directors of Companhia Energética de Minas Gerais approved the following matters:

1.               Orientation to the representative of Cemig for vote in meetings of the Board of Directors and Extraordinary General Meetings of Stockholders of EATE and ECTE.

2.               Aneel Auction 007/2008.

3.               Aneel Auction 008/2008.

4.               Signing of an amendment to the Stockholders’ Agreement of Madeira Energia S.A. – MESA.

Av. Barbacena 1200,  Santo Agostinho,  30190-131 Belo Horizonte, MG,  Brazil.    Tel.: +55-31 3506-5024.    Tax: +55-31 3506-5025

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CEMIG GERAÇÃO E TRANSMISSÃO S.A.

Listed company – CNPJ 06.981.176/0001-58

Summary of principal decisions

At its 79th meeting, held on November 18, 2008, the Board of Directors of Cemig Geração e Transmissão S.A. approved the following matters:

1.               Signing of an amendment to a counter-guarantee contract and a term of subscription to a capitalization agreement.

2.               Aneel Auction 007/2008.

3.               Aneel Auction 008/2008.

4.               Signing of an amendment to the Stockholders’ Agreement of Madeira Energia S.A. – MESA.

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CEMIG DISTRIBUIÇÃO S.A.

Listed Company

CNPJ 06.981.180/0001-16

Summary of principal decisions

At its 79th meeting, held on November 18, 2008, the Board of Directors of Cemig Distribuição S.A. approved the following:

·                  Contracting of services for operational implementation of Cemig D’s Energy Efficiency Program.

Cemig General Secretariat –SG

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COMPANHIA ENERGÉTICA DE MINAS GERAIS – CEMIG

LISTED COMPANY
CNPJ 17.155.730/0001-64

MARKET ANNOUNCEMENT

Cemig is selected for The Global Dow

CEMIG is the only Latin American electricity company in this 150-company index, and one of the 10 selected to represent emerging markets.

CEMIG (Companhia Energética de Minas Gerais) – has been selected for inclusion in The Global Dow (GDOW), a new worldwide stock index with a portfolio of 150 companies from 25 countries. Cemig is one of only three Brazilian companies in the index, and the only Latin American electricity company.

Dow Jones & Company is one of the world’s largest groups providing economic news and financial information services. Its best-known publication is the Wall Street Journal. Dow Jones Indexes, a company of the Dow Jones Group, publishes performance indices for shares, funds and commodities that serve as benchmarks for these markets. An example is the Dow Jones Industrial Average, one of the principal stock indices of the United States.

On November 11, 2008 Dow Jones Indexes announced its launch of a new worldwide index: The Global Dow. The 150 stocks in this new index are chosen by Dow Jones editors, using their expertise and editorial judgment, based on criteria such as company size, reputation and importance for the world economy. The index selects companies from both developed and emerging markets, and from new as well as established sectors. As a result the Global Dow includes not only the world leaders in their sectors, but also companies placed to have this role in the future.

The Global Dow aims to reflect the performance of the shares of leading companies worldwide. Hence the universe from which its components are selected is that of all shares traded in stock markets all over the world that are open to foreign investment.

Cemig’s inclusion is recognition of the strategies that have made Cemig a company of global reach, and also of the solidity of the Cemig Group and its reputation in the market. Inclusion in this index amplifies Cemig’s access to the principal investor markets around the globe where investors seek opportunities to invest in world-class companies.

For more information on the Global Dow Index, please see www.globaldow.com.

Av. Barbacena 1200,  Santo Agostinho,  30190-131 Belo Horizonte, MG,  Brazil.    Tel.: +55-31 3506-5024.   Fax: +55-31 3506-5025

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CONTENTS

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BALANCE SHEETS

AT SEPTEMBER 30 AND JUNE 30, 2008

ASSETS

(R$ ‘000)

The Explanatory Notes are an integral part of the financial statements.

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BALANCE SHEETS

AT SEPTEMBER 30 AND JUNE 30, 2008

LIABILITIES

(R$ ‘000)

The Explanatory Notes are an integral part of the financial statements.

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INCOME STATEMENTS

FOR THE 9 MONTH PERIODS ENDED SEPTEMBER 30, 2008 AND 2007

(In R$ ‘000, except profit per share)

The Explanatory Notes are an integral part of the financial statements.

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EXPLANATORY NOTES TO THE QUARTERLY INFORMATION (ITR)

In R$ ‘000, except where otherwise stated

1) – OPERATIONAL CONTEXT

Companhia Energética de Minas Gerais – “Cemig”, “the Company” or “the holding company”, a listed corporation, registered in the Brazilian Registry of Corporate Taxpayers (CPNJ) under number 17.155.730/0001-64, operates solely and exclusively as a holding company, with stockholdings in companies, controlled individually or jointly, the principal objectives of which are the construction and operation of systems for production, transformation, transmission, distribution and sale of electricity, and also activities in the various fields of energy for the purpose of commercial operation.

On September 30, 2008 Cemig had stockholdings in the following companies in operation (the information on markets served, and installed capacity, has not been reviewed by our external auditors):

·                  Cemig Geração e Transmissão S.A. (subsidiary, 100.00% stake): registered with the CVM (Securities Commission): Generation and transmission of electricity, through 46 power plants, 43 being hydroelectric, one a wind power plant and two thermal plants, and their transmission lines, most of them belonging to the Brazilian national generation and transmission grid system. Cemig Geração e Transmissão S.A. has stockholdings in the following subsidiaries that are at development phase:

· Hidrelétrica Cachoeirão S.A. (jointly controlled, 49.00% stake): Production and sale of electricity as an independent power producer, through the Cachoeirão hydroelectric power plant, at Pocrane, in the State of Minas Gerais. The power plant is at the construction phase, with startup expected in September 2008. It has generation capacity of 27 MW.

· Guanhães Energia S.A. (jointly controlled, 49.00% stake): Production and sale of electricity through building and commercial operation of the following Small Hydro Plants in Minas Gerais state: Dores de Guanhães, Senhora do Porto and Jacaré, in the municipality of Dores de Guanhães; and Fortuna II, in the municipality of Virginópolis. The plants are at construction phase, with start of operation scheduled for 2009, and will have aggregate installed capacity of 44MW.

· Cemig Baguari Energia S.A. (subsidiary – 100.00% stake): Production and sale of electricity as an independent producer.

· Madeira Energia S.A. (jointly controlled – 10.00% stake): Implementation, construction, operation and commercial operation of the Santo Antônio hydroelectric plant in the Madeira River Basin, in the State of Rondônia, with power of 3,150 MW (information not audited) and commercial start up scheduled for 2012).

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Hidrelétrica Pipoca S.A. (jointly controlled, 49.00% stake): Independent production of electricity, through construction and commercial operation of the Pipoca PCH (Small Hydro Plant), with 20,000 kW of installed capacity, located on the Manhuaçu River, in the Municipalities of Caratinga and Ipanema, in the State of Minas Gerais. Operational startup is scheduled for April 2010.

Baguari Energia S.A. (jointly controlled, 69.39% stake): Construction, operation, maintenance and commercial operation of the Baguari Hydroelectric Plant, through its participation in the UHE Baguari Consortium (Baguari Energia 49.00%, Neoenergia 51.00%), with 140 MW of installed capacity, located on the river Doce in Governador Valadares, Minas Gerais State. Operational startup is scheduled for October 2009 (1^st unit), December 2009 (2^nd unit) and February 2010 (3^rd unit).

·                  Cemig Distribuição S.A. Cemig Distribuição S.A. (subsidiary – 100.00% stake): registered with the CVM (Securities Commission): Distribution of electricity through distribution networks and lines in approximately 97.00% of the Brazilian State of Minas Gerais.

·                  Rio Minas Energia Participações (“RME”) (jointly-controlled subsidiary – 25.00% stake): This company holds 52.25% of the registered capital of Light S.A. (“Light”), a holding company which holds the full control of the distribution concession holder Light Serviços de Eletricidade S.A, with 3.9 million consumers in 31 municipalities of the state of Rio de Janeiro and the generating company Light Energia S.A, with 855 MW of installed capacity in the generation activity.

·                  Sá Carvalho S.A. (subsidiary – 100.00% stake): Production and sale of electricity, as a holder of a concession for public electricity service, through the Sá Carvalho hydroelectric power plant.

·                  Usina Térmica Ipatinga S.A. (subsidiary – stake 100.00%): Production and sale, under the independent production regime, of thermally produced electricity, through the Ipatinga thermal plant, located on the premises of Usiminas (Usinas Siderúrgicas de Minas Gerais S.A.).

·                  Companhia de Gás de Minas Gerais – Gasmig (“Gasmig”) (jointly controlled, 55.19% stake): Acquisition, transport and distribution of combustible gas or sub-products and derivatives, through concession from the government of the State of Minas Gerais for distribution of gas in the State.

·                  Empresa de Infovias S.A. (“Infovias”) (subsidiary – 100.00% stake): Provision and commercial exploration of a specialized service in the area of telecommunications, by means of an integrated system consisting of fiber optic cables, coaxial cables, electronic and associated equipment (multi-service network).

·                  Efficientia S.A. (subsidiary – 100.00% stake): Provides electricity efficiency and optimization services and energy solutions through studies and execution of projects, as well as providing services of operation and maintenance in energy supply facilities.

·                  Horizontes Energia S.A. (subsidiary – 100.00% stake): Production and sale of electricity, as an independent power producer, through the Machado Mineiro and Salto do Paraopeba hydroelectric power plants, in the State of Minas Gerais, and Salto do Voltão e Salto do Passo Velho, in the State of Santa Catarina.

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·                  Central Termelétrica de Cogeração (subsidiary – 100.00% stake): Production and sale of electricity as an independent producer.

·                  Rosal Energia Rosal Energia S.A. (subsidiary – 100.00% stake): Production and sale of electricity, as a public electricity service concession holder, through the Rosal hydroelectric power plant located on the border between the States of Rio de Janeiro and Espírito Santo, Brazil.

·                  Central Hidrelétrica Pai Joaquim S.A. (subsidiary – 100.00% stake): Production and sale of electricity as an independent producer.

·                  Cemig PCH S.A. (subsidiary – 100.00% stake): Production and sale of electricity as an independent power producer, through the Pai Joaquim hydroelectric power plant.

·                  Cemig Capim Branco Energia S.A. (subsidiary – 100.00% stake): Production and sale of electricity as an independent producer, through the Capim Branco I and II hydroelectric power plants, built through a consortium with private-sector partners.

·                  UTE Barreiro S.A (subsidiary, 100.00% stake): Production and sale of thermally generated electricity, as an independent producer, through the construction and operation of the UTE Barreiro thermal generation plant, located on the premises of Vallourec & Mannesmann Tubes, in the State of Minas Gerais.

·                  Companhia Transleste de Transmissão (jointly controlled – 25.00% stake): Operation of a 345kV transmission line connecting the substation located in Montes Claros to the substation of the Irapé hydroelectric power plant.

·                  Cemig Trading S.A. (subsidiary – 100.00% stake): Sale and intermediation of business transactions related to energy.

·                  Companhia Transudeste de Transmissão (jointly controlled – 24.00% stake): Construction, implementation, operation and maintenance of electricity transmission facilities of the national grid – the 345 kV Itutinga–Juiz de Fora transmission line.

·                  Companhia Transirapé de Transmissão (jointly controlled – 24.50% stake): Construction, implementation, operation and maintenance of electricity transmission facilities of the national grid – the 230kV Irapé–Araçuaí transmission line.

·                  Empresa Paraense de Transmissão de Energia S.A. (“EPTE”) (jointly controlled – stake of 18.84%): Holder of a public service electricity transmission concession for the 500 KV transmission line starting at Tucuruí Substation and ending at the Vila do Conde Substation in the State of Pará. See information about new interest in this company in Note 14.

·                  Empresa Norte de Transmissão de Energia S.A. (“ENTE”) (jointly controlled – 18.35% stake): Holder of the public service electricity transmission concession for two 500 kV transmission lines, the first from the Tucuruí Substation to the Marabá Substation in the State of Pará, and the second from the Marabá Station to the Açailândia Substation in the State of Maranhão. See information about new interest in this company in Note 14.

·                  Empresa Regional de Transmissão de Energia S.A. (“ERTE”) (jointly controlled – 18.35% holding): Holder of the public service electricity transmission concession for the 230 kV transmission line from the Vila do Conde Substation to the Santa Maria Substation in the State of Pará. See information about new interest in this company in Note 14.

·                  Empresa Amazonense de Transmissão de Energia S.A. (“EATE”) (jointly controlled – 16.63% stake): Holder of the public service electricity transmission concession for the 500kV transmission lines between the sectionalizing Substations of Tucuruí, Marabá, Imperatriz, Presidente Dutra and Açailândia. See information about new interest in this company in Note 14.

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·                  Empresa Catarinense de Transmissão de Energia S.A. (“ECTE”) (jointly controlled, 7.50% stake): Holder of the public service electricity transmission service concession for the 525kV transmission line from the Campos Novos Substation to the Blumenau Substation in the State of Santa Catarina. See information about new interest in this company in Note 14.

·                  Axxiom Soluções Tecnológicas S.A. (“Axxiom”) (jointly controlled, 49.00% stake): Formed in August 2007 to provide services of implementation and management of systems for electricity sector companies.

Cemig also has stockholdings in the companies listed below, which on September 30, 2008 were at pre-operational stage:

·                  Companhia de Transmissão Centroeste de Minas (jointly controlled – 51.00% stake): Construction, implementation, operation and maintenance of the electricity transmission facilities of the basic network of the national grid – the 345kV Furnas–Pimenta transmission line.

·                  Transchile Charrúa Transmisión S.A. (“Transchile”) (jointly controlled, 49.00% stake): Implementation, operation and maintenance of the Charrúa–Nueva Temuco 220kV transmission line, and two sections of transmission line at the Charrúa and Nueva Temuco substations, in the central region of Chile. Transchile’s head office is in Santiago, Chile.

Where Cemig exercises joint control it does so through stockholders’ agreements with the other stockholders of the investee company.

2) – PRESENTATION OF THE QUARTERLY INFORMATION

The quarterly financial statements were prepared according to accounting principles adopted in Brazil, namely: the Brazilian Corporate Law; rules of the Brazilian Securities Commission (CVM – Comissão de Valores Mobiliários); and rules of the specific legislation applicable to holders of electricity concessions, issued by the National Electricity Agency, Aneel.

The Quarterly Information was prepared according to accounting principles, methods and criteria that are uniform in relation to those adopted in the previous year, except in relation to the practice of adjustment to present value mentioned in this explanatory note, arising from CVM Instruction 469/08.

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The statements of cash flow were prepared in accordance with the criteria of FAS 95 – Statement of Cash Flows, with references made to the format of presentation, in the context of registry of the financial statements with the Securities and Exchange Commission (SEC).

Additionally, with the purpose of improving the information provided to the market, the company is presenting, in Explanatory Note 33, the income statement separated by company. All the information presented was obtained from the Company’s accounting records and those of its subsidiaries.

Criterion for consolidation of the Quarterly Information

The financial statements of the subsidiaries and jointly controlled companies mentioned in Explanatory Note 1 have been consolidated. The data of the controlled subsidiaries as a whole was consolidated based on the method of proportional consolidation, applicable to each component of the financial statements of the investees. All the subsidiaries, including those that are jointly controlled, follow accounting practices that are consistent with those of the holding company.

In the consolidation, the holdings of the holding company in the Stockholders’ equity of investee companies, and the significant balances of assets, liabilities, revenues and expenses arising from transactions effected between the companies, have been eliminated.

The portion relating to the minority holdings in Stockholders’ equity of the subsidiaries is shown separately in Liabilities.

The financial statements of Transchile, for the purpose of consolidation, are converted from Chilean accounting principles to Brazilian accounting principles, with Chilean pesos being converted to Reais at the exchange rate of the last day of the quarter.

The dates of the financial statements of the investee companies used for calculation of equity income and consolidation coincide with those of the holding company.

As a result of the adoption of the accounting practice of adjustment to present value of certain assets and liabilities, mentioned in the item above, the subsidiaries Cemig D, Cemig GT and Light made some adjustments to prior years that were recorded in their individual financial statements directly against Stockholders’ equity, without being included in the Income statement for the year. In the Holding company these adjustments were recorded directly in the income statement, under Equity income from subsidiaries, as determined by CVM instruction 247/96.

Thus, as a result of these adjustments, a difference occurs between the consolidated income statement and the holding company income statement, as follows:

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Change in the Brazilian Corporate Law

Law 11638/07 of December 28, 2007 alters and repeals provisions, and creates new provisions, in the Brazilian Corporate Law, in the chapter relating to disclosure and preparation of financial statements. Among other aspects, this changes the criterion for recognition and valuation of certain assets and liabilities. These changes in accounting practices come into effect as from January 1, 2008.

The aim of these changes is to increase the transparency of financial statements of Brazilian companies and eliminate some regulatory barriers that were an obstacle to the process of convergence of these financial statements with International Financial Reporting Standards (IFRS):

The main changes to the Law, coming into effect as from 2008, that could affect the company’s financial statements, are as follows:

·                  Replacement of the Statement of Origins and Uses of Funds by the Cash Flow Statement.

·                  Inclusion of the Added Value Statement in the group of financial statements prepared, disclosed and which are to be approved by the Ordinary General Meeting of stockholders.

·                  A new possibility was created, further to that originally specified in the Corporate Law, of separation of trading reporting and tax reporting, by establishing the alternative for the company of adopting in its trading reporting, and not only in auxiliary books, the provisions of the Tax Law, provided that, immediately afterward, after the calculation of the taxable profit base amount, the necessary adjustments are made for the financial statements to be in harmony with the Corporate Law and the fundamental principles of accounting.

·                  Creation of two new subgroups of accounts: Intangible, in permanent assets, and Adjustments to valuations of assets and liabilities, in Stockholders’ equity. The sub-group of “Adjustments to valuation of assets and liabilities” will essentially have the purpose of containing the counterpart of certain valuations of assets at market price, the valuation of certain financial instruments and, also, conversion adjustments as a result of FX variation on holdings in companies outside Brazil.

·                  New criteria for classification and valuation of investments and financial instruments, including derivatives. These financial instruments will be classified in three categories (Held for trading, Held to maturity and Available for sale) and their valuation at cost plus return or at market value will be made as a function of their classification in one of these categories.

·                  Introduction of the concept of Adjustment to Present Value for long-term asset and liability transactions and for significant short-term transactions.

·                  In absorption, merger or split transactions (combination of companies), when carried out between non-related parties and linked to effective transfer of control, all the assets and liabilities of the absorbed, split or merged company must be identified, valued and accounted at market value.

·                  Elimination of the possibility of spontaneous revaluations of fixed assets being made.

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As communicated to the market, the CVM intends, by the end of 2008, to complete its process of issue of regulations for the provisions of the Corporate Law that were altered and which need regulation, and will review all its normative acts that deal with accounting matters, so as to verify and eliminate any divergencies in relation to the specific alterations produced by the new law.

On May 2, 2008 the Brazilian Securities Commission (CVM) issued CVM Instruction 469, specifying immediate need for adaptation for some rules, and clarifying other questions related to the changes produced by the new Law.

Under this Instruction, some changes in accounting practices become obligatory starting with the first ITR (quarterly information) of 2008.

In compliance with the instruction, the Company, through its subsidiaries Cemig Geração e Transmissão SA, Cemig Distribuição SA and Light SA adjusted to present value certain financing contracts, certain customers split and the debentures acquired by the Government of Minas Gerais State, and also obligations to pay relating to concessions held for consideration. Discount rates were used that correspond, in the Company’s estimate, to the actual cost of raising of funds through loans and financing.

The accounting effects on the financial statements in 2008 arising from the immediate application of the adjustment to present value mentioned above are as follows:

The Company calculated the effects on the present value adjustments relating to prior years and recorded directly in equity. The values for the period from January to September that impact the outcome of 2007, in the amount of R$ 7,875, net of tax effects have not been adjusted for comparison purposes because of that amount is not material.

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Reclassification of accounting balances

The following alterations, for the purposes of comparability, were made to the amounts previously presented in the income statements of September 30, 2007:

As a result of inclusion in the Company’s Bylaws in 2007 of a provision for payment of profit shares to the employees and managers of the company, these profit shares have now begun to be posted as an amount reducing net profit before tax and profit shares, where up to the third quarter of 2007 they were posted under Personnel expenses.

3) – CASH AND CASH EQUIVALENTS

Cash investments consist of transactions carried out with Brazilian financial institutions, contracted on normal market conditions and at normal market rates. Hence these amounts are available to be used in the Company’s operations.

4) – CONSUMERS AND RESELLERS

An amount of Receivables of R$ 32,505 is recorded in Non-current assets at September 30, 2008 (R$ 36,493 at June 30, 2008), in relation to the renegotiation of receivables owed by Copasa (Minas Gerais Water Company) and the prefecture of Belo Horizonte, to be paid by September 2012 and March 2010, respectively

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Credits receivable from an industrial consumer in the amount of R$ 92,880, not paid due to an injunction that allowed this payment not to be made until final judgment of a legal action challenging the tariff increase during the Cruzado Economic Plan, under Ministerial Order 045/86, are recorded in the accounts. The Company expects this action to be concluded before the end of 2008, and expects the amounts referred to be received in full.

According to rules laid down by Aneel, the criteria for constitution of provisions are as follows: (i) for consumers with significant debts payable, an individual analysis is made of the balance, taking into account the history of default, negotiations in progress and the existence of real guarantees; (ii) for other consumers, the debts receivable and unpaid for more than 90 days from residential consumers, more than 180 days from commercial consumers and more than 360 days for the other consumer categories, are provisioned in full.

The provision made for doubtful credits is considered to be sufficient to cover any losses in the realization of these assets.

5) – REGULATORY ASSETS AND LIABILITIES

The General Agreement for the Electricity Sector, signed in 2001, and the new regulations governing the electricity sector, result in the constitution of several regulatory assets and liabilities, and also in deferral of federal taxes applicable to these assets and liabilities (which are settled as and when the assets and liabilities are received and/or paid), as shown here: