Eletrobras will anticipate R$5 billion to ease electricity bills in 2022

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A Eletrobras will anticipate 5 billion of reais to the Energy Development Account (CDE) in 2022, with the aim of helping alleviate the pressure of high electricity tariffs, given the scenario of rising costs that should continue into next year, informed the Ministry of Mines and Energy in a note on Tuesday night.

The portion integrates the 29.8 billion reais that should be allocated to the CDE, as provided for in the Eletrobras privatization rules, aiming at the so-called low tariffs, for a period of 25 years. Payments will be made on a staggered basis over time.

“The objective is to mitigate the potential tariff impact arising from the uncontracting of energy from the quotaholder plants (of Eletrobras), thus valuing tariff neutrality,” said the ministry.

In addition to the tariff pressures in 2021, which include the weight of the so-called “Water Scarcity” tariff flag, defined the day before, the government projects that important upward factors will continue to be present in 2022, such as the increase in generation costs and forecasts that the IGP -M remains at high levels, influencing the readjustments of old contracts.

The allocation of Eletrobras resources to alleviate tariffs works as a counterpart of the state-owned company for the renewal of hydroelectric contracts under more advantageous conditions by the company, something also provided for in the definitions of the privatization process.

The day before, the National Energy Policy Council (CNPE) also determined that Eletrobras will pay 23.2 billion reais to the Union for the grants of 22 hydroelectric plants that will have contracts renewed, or “decotizado”.

With the payment, the hydroelectric plants will leave the current quota regime — which only pays for operation and maintenance — to that of independent energy production.

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