Fonte: ANEEL

The National Energy Agency (ANEEL) reduced the rate of return on capital invested by the distributors from 9.95% to 7.5%. The new rate approved by the Board during the public meeting this Tuesday (11/08) reflects the behavior of the Brazilian economy in recent years, reducing the risk of the power distribution business in Brazil and the interest rates applied to fundraising by the energy sector. The change is part of the 3rd cycle of periodic rate revisions and helps reduce the rate of energy consumers.

The remuneration rate corresponds to the net value in real terms, which will be passed on to shareholders of companies, with the rebate of taxes paid. To fix it, the Agency used the rules for calculating the weighted average cost of capital (WACC), which takes into account the relationship between risk and return on investment.

During the meeting, director Julião Coelho, rapporteur of the issue, explained that the crew did all the projections needed to reach the value set by the Agency and that the decision will not interfere with the ability of investment by concessionaires.

The highest remuneration rate granted by the Agency was 11.26% in the 1st cycle of periodic rate revisions between 2003 and 2006, when the country had a more unstable economic behavior and Brazil’s risk was higher, reflecting the investment in distribution.

The cost of capital was the fourth submodule of the methodology under review at the meeting this Tuesday (11/08).  Read more about the other modules. (FA/GL)