Stock Market News

Brazil tightens rules to renew energy distribution concessions

2024.06.20 19:45

(Reuters) – The Brazilian government issued on Thursday tighter guidelines for the extension of energy distribution contracts, easing the advanced cancellation of concessions and allowing the country to limit pay out from firms that do not comply with the rules.

The energy ministry has been working since 2022 on the guidelines, which affect international energy groups such as Italy’s Enel (BIT:) and Portugal’s EDP, as they are among the 20 concession contracts expiring by 2031 – the guidelines timeframe.

The new rules are aligned with government hopes that tightening the enforcement for distributors would force companies to provide better services, after climatic events in Brazil left millions of people without power in some big cities in the last few months.

© Reuters. FILE PHOTO: Electricity transmission towers stand over a coffee farm in Santo Antonio do Jardim February 6, 2014. REUTERS/Paulo Whitaker/File Photo

“In case of non-compliance with the contract, we are allowing the early expiration of the concession or an intervention”, energy minister Alexandre Silveira told journalists at an event to present the guidelines in Brasilia.

The launch of the guidelines was delayed about five months from its previous deadline.



Source link

Related Articles

Back to top button
bitcoin
Bitcoin (BTC) $ 97,992.25 0.09%
ethereum
Ethereum (ETH) $ 3,364.90 1.64%
tether
Tether (USDT) $ 1.00 0.04%
solana
Solana (SOL) $ 253.29 1.44%
bnb
BNB (BNB) $ 661.35 0.95%
xrp
XRP (XRP) $ 1.41 3.11%
dogecoin
Dogecoin (DOGE) $ 0.426579 2.04%
usd-coin
USDC (USDC) $ 1.00 0.01%
cardano
Cardano (ADA) $ 1.02 5.56%
staked-ether
Lido Staked Ether (STETH) $ 3,364.42 1.60%
tron
TRON (TRX) $ 0.208915 2.20%
avalanche-2
Avalanche (AVAX) $ 41.94 1.09%
the-open-network
Toncoin (TON) $ 6.17 3.83%
stellar
Stellar (XLM) $ 0.533379 4.70%
shiba-inu
Shiba Inu (SHIB) $ 0.000026 3.13%
wrapped-steth
Wrapped stETH (WSTETH) $ 3,964.27 1.98%
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 97,790.20 0.03%
polkadot
Polkadot (DOT) $ 8.71 7.86%
chainlink
Chainlink (LINK) $ 18.03 0.98%
bitcoin-cash
Bitcoin Cash (BCH) $ 512.97 0.02%
weth
WETH (WETH) $ 3,363.88 1.68%
sui
Sui (SUI) $ 3.40 2.19%
near
NEAR Protocol (NEAR) $ 7.06 10.95%
pepe
Pepe (PEPE) $ 0.00002 2.91%
leo-token
LEO Token (LEO) $ 8.59 0.04%
litecoin
Litecoin (LTC) $ 96.85 3.61%
aptos
Aptos (APT) $ 12.47 3.86%
uniswap
Uniswap (UNI) $ 10.89 0.47%
wrapped-eeth
Wrapped eETH (WEETH) $ 3,543.35 1.45%
hedera-hashgraph
Hedera (HBAR) $ 0.144115 12.35%
internet-computer
Internet Computer (ICP) $ 11.48 0.93%
usds
USDS (USDS) $ 1.00 0.08%
crypto-com-chain
Cronos (CRO) $ 0.187272 8.68%
polygon-ecosystem-token
POL (ex-MATIC) (POL) $ 0.567949 1.47%
ethereum-classic
Ethereum Classic (ETC) $ 28.60 4.57%
render-token
Render (RENDER) $ 8.10 3.38%
fetch-ai
Artificial Superintelligence Alliance (FET) $ 1.53 4.45%
bittensor
Bittensor (TAO) $ 532.33 1.10%
ethena-usde
Ethena USDe (USDE) $ 1.00 0.05%
kaspa
Kaspa (KAS) $ 0.15185 2.40%
bonk
Bonk (BONK) $ 0.000048 1.45%
vechain
VeChain (VET) $ 0.044173 3.55%
arbitrum
Arbitrum (ARB) $ 0.858754 1.99%
whitebit
WhiteBIT Coin (WBT) $ 24.35 1.84%
dai
Dai (DAI) $ 1.00 0.01%
filecoin
Filecoin (FIL) $ 5.71 4.12%
cosmos
Cosmos Hub (ATOM) $ 8.63 2.76%
celestia
Celestia (TIA) $ 7.85 10.25%
mantra-dao
MANTRA (OM) $ 3.63 1.85%
okb
OKB (OKB) $ 54.00 5.25%