Issue 87 • March 2014

Will we have shocking news on tariffs in 2015?

OPINION

In this issue we detail the economic consequences for consumers, from 2015 (and for taxpayers, since 2013) of the explosive combination of distribution utilities (unintentionally) very under-contracted and very high spot prices in 2013 and 2014.

REGULATIONS

The topics of this section are: (i) preliminary analysis of guidelines for the A0 auction; (ii) how to calculate the opening price of this auction; (iii) the raising of 8 billion reais by CCEE; e (iv) postponement of the February settlement in the spot market.

ENVIRONMENTAL

In this section we analyze the imbroglio of the use of water from Paraíba do Sul River.

SUPPLY

In this section we analyze two issues that can significantly affect operating efficiency: (i) the atypical depletion of Itaipu plant reservoir; and (ii) the fact that many plants warn only at the last minute that they will be delayed.

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Electronically published since 2006, the PSR Energy Report is a monthly newsletter developed by PSR, whose main objective is to present a comprehensive and current analysis of regulatory, legal issues, water resources and environment and supply of the electricity sector in Brazil.