Bolsonaro approves CNPE’s resolution granting Eletrobras concessions – ISTOÉ DINHEIRO

BRASÍLIA (Reuters) – President Jair Bolsonaro approved this Wednesday a resolution from the National Energy Policy Council (CNPE) that updates the added value due by Eletrobras for the granting of new electricity generation concession contracts, according to a press release issued by the press office of Social Communication of the General Secretariat of the Presidency of the Republic.

Under current legislation, the capitalization of the state-owned company is subject to the granting of new electricity generation concessions to the company’s hydroelectric plants.

The new CNPE resolution, released the day before, was issued in the wake of the inspection process of the privatization of Eletrobras with the Federal Court of Accounts (TCU), when it was verified the need to adequate the economic-financial modeling of the privatization and the calculation to define the added value.

According to the note, the adjustment resulted in an increase in the federal government’s concession revenue to 25.38 billion reais, compared to 23.22 billion reais in the previous CNPE resolution and 32.07 billion to the Energy Development Account (CDE) compared to 29.78 billion reais previously established.

(Reporting by Maria Carolina Marcello)

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