Main Focus
- Electric companies showed expressive results, reversing the losses of the same period of the previous year
- The opening of this season of balance sheets also featured Galp Energia, EDP Brasil, Neoenergia, Cesp, WEG, Enel SP and Rio de Janeiro, Shell Energy and TotalEnergies and ISA Cteep.
- The week also featured the simplified reserve procedure, or emergency auction, which contracted mostly natural gas-fired thermoelectric plants and projects in the Southeast, totaling 1.22 GW.
Good afternoon!
The last week of October began with the third quarter swing season.
Did you miss any company’s results? Ahhh…but don’t worry for that: we got the results of the energy and oil and gas companies so you can stay on top of the market.
So, grab the coffee and check with us the highlights of the week:
In general, the electric ones showed expressive results, reversing the losses of the same period of the previous year.
Among the highlights for the good results are the recovery of the economy, the reduction of restriction measures adopted due to the covid-19 pandemic and the return of cuts due to default by distributors.
The positive surprise was for Petrobras’ result, which earned BRL 31.1 billion in the 3rd quarter and anticipated dividend targets.
The opening of this season of balance sheets also featured Galp Energia, EDP Brasil, Neoenergia, Cesp, WEG, Enel SP and Rio de Janeiro, Shell Energy and TotalEnergies and ISA Cteep.
Check out what else was announced by the companies during the release of the results:
- Petrobras announces new distribution of earnings to shareholders of R$ 31.8 billion
- After incorporation, Cesp’s new holding will have a ‘vocation’ to grow in the market
- Bandeira should remain at a high level to reduce the impact of the loan, says Ruiz-Tagle
- “Who better than us to bet on the quality of our action?” says EDP CEO when announcing buyback
- EDP closes the sale of the Cachoeira Caldeirão, Jari and Mascarenhas HPPs
Decisions, reviews and signatures from companies in the sector were also in the headlines of MegaWhat.
It is worth checking the news about the revision of Annex C of the Treaty of Itaipu, the arbitration decision on force majeure in an energy contract during the covid-19 pandemic, without forgetting the Vibra Energia Energia shareholders’ agreement and a new acquisition of the market
- Equatorial shares retreat at B3 after news of Echoenergia acquisition
- Arbitration award indicates a trend towards processes related to covid-19 in the free market
- Negotiation of the Treaty of Itaipu will take place from 2023, says director-general on the Brazilian side
- Dynamo and Ronaldo Cezar Coelho sign a shareholders’ agreement at Vibra Energia
Meanwhile, the week also featured a simplified reserve procedure, or emergency auction, which contracted mostly natural gas-fired thermoelectric plants and projects in the Southeast, totaling 1.22 GW.
In addition, in the highlights of the Monthly Operation Schedule (PMO) meeting, the rains in October were not enough to reduce thermal generation and energy security measures. On the other hand, milder temperatures reduced the October load forecast by 4.5%.
