CNPE Ruling No.3 determined that, up to August this year, procedures that represent ﬁrisk-aversionﬂ should be incorporated into the computer model for calculating operating policy (and price formation). In this editorial, we analyze three approaches that could meet this determination: (i) Risk- Aversion Surface [Superfície de Aversão a Risco](SAR); (ii) application of the ﬁConditional Value at Riskﬂ (CVaR) in a restriction of supply reliability (here called CVaR-deficit); and (iii) modification of the objective function of the operation so as to minimize a convex combination of the expected value and of the CVaR of operating cost (here called CVaR-cost).
This section discusses the following topics: (1) a new regulatory structure change via MP; (2) epilogue (maybe) of the seasonalization imbroglio; (3) treatment of non-extended concessions; (4) new CARs; (5) alteration of past PLD; (6) A0 auction; (7) new criterion for Aeolian plants physical guarantee; (8) & (9) guidelines for reserve and A-5 auctions; (10) transfer of funds to distribution utilities.
We bring a review of São Manoel hydro plant licensing process, blocked for three years due to difficulties of negotiating with Indian peoples on land adjacent to the plant.
Besides the traditional analyses of supply with PSR's balances of demand and peak, this section gives an analysis of the current level of reservoirs (late wet season) compared to historical record.