Top Stories
- Eletrobrás privatised
- Modernization of the power sector main topic at the National Meeting of Electric Sector Agents
- The debate centered on thermo-electric plants contracted at the October 2021 emergency auction
Electrobras Privatisation
Last week, there was a prospect of around BRL 30 billion (USD 5.9 billion) from Eletrobras after it was finally privatized.
After much emotion, the board of directors of Eletrobras approved on the night of June 9 the price per share of R$ 42 in its offer on the stock exchange, which will move around BRL 33.6 billion and dilute the government’s share to 40% of the voting shares. In practice, this will, end a process that began in 2017, but that began being designed by the government many years earlier, in the 1990s.
The stake will raise just over BRL 30 billion , and part of these resources will go to the Treasury, in the payment of the grant for the renewal of the concessions of its hydroelectric plants.
And what will the government do with that money? It will try to contain inflation through fiscal policies. The Complementary Law Project 18/2022 alone, which places a ceiling of 17% on the ICMS charged to states in essential sectors, including fuel and the electricity bill, will cost the Union’s coffers BRL 35.3 billion in 2022.
Another Reshuffle at Petrobras
If the privatization of Eletrobras was a victory for the Jair Bolsonaro government, the same cannot yet be said about the (third) change in command at Petrobras.
Now, the names of nominees to the board have been released, which expands the influence of Paulo Guedes and the Ministry of Economy over the company. But these names still need to be voted on by shareholders, and there is still no meeting set for that…
📰 There was no lack of news related to these subjects in recent days, check out other highlights:
Government amends decree on compulsory plants and sends bill withdrawing PPSA from contracts
Petrobras indicates a rise in the price of diesel and gasoline for the second half
With Eletrobras privatization, the MME secretary must leave office
Chamber approves the return of ICMS to consumers by distributors
The government wants to use resources from Eletrobras privatization to offset fuel tax reduction
Enase Meets on Modernisation
The last few days were remarkable for another reason: for the first time in three years, the electricity sector returned to meet in person for the National Meeting of Agents of the Electricity Sector, Enase.
The main agenda was the modernization of the sector, with emotional defenses of Bill 414, which is stuck in the Chamber and is not expected to be voted on before the parliamentary recess in the middle of the year.
The executive secretary of the Ministry of Mines and Energy, Marisete Pereira, still hopes that the text will advance in time.
Much was also discussed about the “creative constructions” that can make the thermoelectric plants contracted in the emergency auction in October last year viable and which are having long delays. A specific discussion, about a request by Âmbar Energia to replace the plants contracted at the auction for existing thermoelectric plants is the biggest of the controversies and should be discussed by the National Electric Energy Agency (Aneel) next week
