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.
The city of Rio de Janeiro estimates that a Madonna concert this Saturday on Copacabana…
Latin America’s trend of banning opposition candidates from elections has caught on in an ever-growing…
The São Paulo City Council on Thursday approved legislation authorizing Brazil’s largest city to sign…
The preliminary report on AI regulations presented to Brazil’s Senate last week provides a middle-of-the-road…
In 2000, Formula 1 great Michael Schumacher had just racked up his 41st race win,…
Overall, the worldwide economic outlook has improved according to the Organization for Economic Co-operation and…