Quite disputed, Transmission Auction # 07/2012 ends with average negative goodwill of 21.7%

Fonte: ANEEL
LT_07/2012“The more dispute and reduction of the values of the bids submitted in auctions of transmission the more the Brazilian consumers appreciate it”. It was with these words that the Director-General of the Brazilian Electricity Regulatory Agency (ANEEL) [Agência Nacional de Energia Elétrica], Nelson Hubner, ended the Transmission Auction # 07/2012 held this Wednesday (12/19) at the headquarters of BM&FBOVESPA, in São Paulo. The auctions was ended with an average negative goodwill of 21.7%, which means that the entrepreneurs’’ revenue for the exploration of the investments will be lesser than that initially predicted, contributing to the low electricity rates. The average Allowed Annual Revenue (RAP)* to be obtained after the beginning of exploration of the enterprises will be R$ 352.4 million in contrast to R$ 450.1 million initially established.

Abengoa Concessões Brasil Holding S.A took three of the eight lots offered in the event and was the big winner of the auction. “Some agents were sunken, but came back strongly, such as Abengoa, who won three lots with quite interesting negative goodwill," said the Director-General of ANEEL. The big race of the auction was seen in Lot F, which had 308 bids, with 305 over the speakerphone, which represented a record of all auctions already held by the Agency. It was auctioned by Abengoa Concessions for the value of R$ 30.8 million, representing a 16.61% average discount relative to RAP initially established by the Agency.

The lot that presented the largest negatove goodwill was C, formed by the substation Piracicaba (SP), with 39.42%. The substation will improve the reliability of the transmission system and reduce the level of losses. Have lots A, D and G contribute to the flow of energy to be produced at the plant of Belo Monte and were bought respectively by Abengoa Concessões, Consórcio Triângulo Mineiro and Consórcio Paranaíba.

Lot B, composed by the Assis – Paraguaçu Paulista II Transmission Line and by the substation Paraguaçu Paulista II (SP) was auctioned by Copel Geração e Transmissão S.A, with a negative goodwill of 5% in relation to the Allowed Annual Revenue (RAP – Receita Anual Permitida) predicted by the Agency in the value of R$ 6.1 million. Abengoa was the winner of Lot E, with 30.7% of negative good will in the RAP in relation to R$ 46.1 million. It is composed by two substations and a transmission line located in the states of Ceará, Paraíba and Rio Grande do Norte. Whereas Lot H, composed by Rio Branco I – Feijó, Feijó – Cruzeiro do sul transmission lines and by the Feijó and Cruzeiro do Sul substations , located in the state of Acre, had no interested parties and therefore shall enter the next events to be held by the Agency.

The new installments will demand investments around R$ 4.3 billion in 11 states, with the generation of 8,623 direct jobs. The conclusion deadline for the projects will be from 22 to 36 months and the concessions contracts are for 30 years. (PG/DB)

*RAP (Allowed Annual Revenue): Revenue to which the entrepreneur will have the right for the transmission service starting when the installations go into commercial operation.