MP 688 authorizes the federal government to support hydroelectric after losses caused by drought (Reinaldo Khanate / SEE)
The Senate passed the night of Tuesday Provisional Measure 688, which authorizes the federal government to support hydroelectric after losses caused by drought. The MP was approved with 44 votes in favor and 20 against in protest of opposition senators, who estimate that the measure will raise rates for energy consumers. The text goes to presidential approval.
The conversion of MP in law is considered crucial for investors to give legal certainty to auction 29 hydroelectric scheduled for this Wednesday, with which the federal government hopes to raise up to 17 billion reais by charging grant bonuses along the winners . All of the resources provided will be included only in anticipation of the 2016 Budget revenues, said the rapporteur of revenue and Senator Acir Gurgacz (PDT-RO). The MP was approved within the time limit for auction this Wednesday was made possible. Without the legal text, the government would have to postpone again the dispute.
Rules - The National Electric Energy Agency (ANEEL) approved on November 3, the details of generating the support of proposal authorized by the MP 688, which defines rules on the risk of drought in hydropower and authorizes the federal government to charge granting of bonuses at auction .
Under the new rules, companies that invest in hydropower can choose how much of the "hydrological risk" wish to take - any water deficits that pass this level would be passed on to the tariffs, instead of being borne by generators. In exchange for this agreement, the power will also need to commit to withdraw lawsuits with which obtained protection against new billing losses from drought.
Injunctions, which have already exceeded a hundred, led the Board of Electric Energy Commercialization (CCEE) to freeze the settlement of energy contracts relating to September, which happened earlier this month, waiting for the end of negotiations between Aneel and businesses .
