The National Electric Energy Agency (Aneel) disclosed the amounts and rules of financial aid it will give out to the electricity sector due to last year’s water crisis.
In the so-called Water Shortage Account, a group of public and private banks will supply BRL 5.3 billion (USD 1.03 billion) to energy distributors over the coming weeks. The amount corresponds to the first portion of the BRL 10.5 billion loan previously forecast. This first installment, however, was BRL 300 million lower than what the agency had estimated last month.
The first part of the loan will be used to cover the deficit in variable energy tariffs, tariff deferrals, and energy imports. The second half will be destined to covering the operational costs of thermoelectric plants switched on in December last year
This new credit line aims to avoid higher energy bills this year. Nevertheless, the cost will be passed on to consumers for up to 54 months starting in 2023, being added as a new charge on electricity bills until distributors pay off their loans.