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) $ 69,741.69 0.55%
ethereum
Ethereum (ETH) $ 2,504.56 0.01%
tether
Tether (USDT) $ 0.99918 0.14%
bnb
BNB (BNB) $ 575.78 0.06%
solana
Solana (SOL) $ 167.24 0.61%
usd-coin
USDC (USDC) $ 1.00 0.11%
xrp
XRP (XRP) $ 0.512438 0.08%
staked-ether
Lido Staked Ether (STETH) $ 2,502.64 0.15%
dogecoin
Dogecoin (DOGE) $ 0.161564 2.85%
tron
TRON (TRX) $ 0.167354 0.07%
cardano
Cardano (ADA) $ 0.356542 4.04%
the-open-network
Toncoin (TON) $ 4.95 2.27%
wrapped-steth
Wrapped stETH (WSTETH) $ 2,966.87 0.06%
shiba-inu
Shiba Inu (SHIB) $ 0.000018 2.60%
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 69,617.65 0.53%
avalanche-2
Avalanche (AVAX) $ 24.85 0.63%
weth
WETH (WETH) $ 2,504.43 0.09%
chainlink
Chainlink (LINK) $ 11.22 0.88%
bitcoin-cash
Bitcoin Cash (BCH) $ 349.00 0.87%
usds
USDS (USDS) $ 0.999306 0.33%
polkadot
Polkadot (DOT) $ 3.91 0.39%
leo-token
LEO Token (LEO) $ 6.06 0.34%
sui
Sui (SUI) $ 1.95 0.91%
litecoin
Litecoin (LTC) $ 70.41 2.96%
near
NEAR Protocol (NEAR) $ 3.96 0.54%
aptos
Aptos (APT) $ 8.80 0.51%
wrapped-eeth
Wrapped eETH (WEETH) $ 2,634.87 0.00%
uniswap
Uniswap (UNI) $ 7.48 3.51%
pepe
Pepe (PEPE) $ 0.000009 0.21%
internet-computer
Internet Computer (ICP) $ 7.84 0.20%
bittensor
Bittensor (TAO) $ 460.55 1.07%
dai
Dai (DAI) $ 0.999506 0.13%
fetch-ai
Artificial Superintelligence Alliance (FET) $ 1.22 2.42%
kaspa
Kaspa (KAS) $ 0.116532 0.33%
monero
Monero (XMR) $ 157.20 2.49%
stellar
Stellar (XLM) $ 0.092797 1.29%
ethereum-classic
Ethereum Classic (ETC) $ 18.49 0.65%
ethena-usde
Ethena USDe (USDE) $ 1.00 0.24%
whitebit
WhiteBIT Coin (WBT) $ 18.99 0.75%
first-digital-usd
First Digital USD (FDUSD) $ 0.998767 0.19%
polygon-ecosystem-token
POL (ex-MATIC) (POL) $ 0.319276 1.39%
blockstack
Stacks (STX) $ 1.60 0.69%
okb
OKB (OKB) $ 38.16 0.24%
dogwifcoin
dogwifhat (WIF) $ 2.21 3.29%
aave
Aave (AAVE) $ 141.35 0.91%
filecoin
Filecoin (FIL) $ 3.48 0.16%
arbitrum
Arbitrum (ARB) $ 0.51905 0.96%
crypto-com-chain
Cronos (CRO) $ 0.073417 0.59%
mantle
Mantle (MNT) $ 0.579381 0.59%
optimism
Optimism (OP) $ 1.52 4.23%