The federal government issued this Monday (13) an interim measure that will make possible a billion dollar loan for the electricity sector to cover the hole caused by the water crisis.
The MP was published in an extra edition of the Diário Oficial da União and was long awaited by distributors. With the measure, there is already a legal basis for financing.
The value is not yet closed, but it should be between R$ 13 billion and R$ 17 billion, as found by the CNN. The loan will be granted by a consortium of private banks, coordinated by BNDES, for a period of five years.
With this money, the distributors will dilute part of the readjustment for the electricity bill scheduled for 2022. This is because the “water scarcity” tariff flag was not able to offset all the losses in the sector.
The readjustment of energy tariffs should reach 22% next year, which is quite delicate during an election period. With this financing and other mitigation measures, the expectation is for a 10% increase.
Among the other mitigation measures are the inflow of funds from the privatization of Eletrobras, the reduction of Itaipu’s debt service and the use of PIS/Cofins credits.
The biggest water crisis in 91 years led the government to activate all thermal plants in the country in order to avoid the blackout. Thermal plants produce more expensive and polluting energy than hydroelectric plants.
The financing mechanism is the same that was used in 2020 to cover the hole in the pandemic and became known as the “covid account”. At the time, it was R$ 15 billion.
Reference: CNN Brasil
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