Business

Eletrobras privatization faces frantic race against time in the Senate

The upper house of Brazil's Congress has two weeks to approve a decree facilitating the privatization of Eletrobras, but controversial additions to the bill could see the process fall flat

eletrobras privatization
Electricians do maintenance work on transmission lines in Araraquara, São Paulo. Photo: Nelson Antoine/Shutterstock

On the table since the beginning of the Jair Bolsonaro government, the privatization of massive Brazilian energy company Eletrobras is edging closer to fruition. Indeed, the process is now facing a mad dash over the finish line. A provisional decree laying the framework for the company’s privatization is awaiting approval in the Senate before the proposal expires in two weeks’ time. The bill’s rapporteur, Senator Marcos Rogério, said this approval will come “if not [today], then at the beginning of next week.”

But there are still ways to go before Latin America’s biggest power utility company can go private...

Access all of The Brazilian Report
Start your 7-day free trial.
Free trial