The way in which energy distributors have their productivity recognized in tariff processes will once again be at the center of regulatory discussions.
A ANEEL The Brazilian National Electric Energy Agency (ANEEL) has opened a public consultation to review the methodology of the so-called X Factor, a component used in tariff adjustments and revisions to share with consumers part of the efficiency gains obtained by the concessionaires.
The proposal under discussion also seeks to improve how companies are compensated for investments made in the modernization and expansion of electricity grids.
The process was officially opened through Public Consultation Notice No. 20/2026, published in the Wednesday, July 15th edition of the DOU (Official Gazette of the Union). Contributions may be submitted between July 16th and August 31st, in the form of document exchange.
Productivity calculation
According to the proposal put out for consultation, the productivity component of Factor X would no longer be recalculated only during tariff review cycles, currently carried out at intervals of four or five years, but would instead be updated annually.
According to the technical area of ANEELThe change would allow for a more precise capture of the evolution of each distributor's individual productivity and incorporate part of the investments made by the concessionaires into all tariff processes, making the methodology more aligned with the transformations in the electricity sector.
The proposal stipulates that the new methodology will be used in tariff revisions starting January 1, 2027, while also allowing for a trial implementation period before its definitive adoption in 2028.
Investment recognition
Although they consider the revision of the methodology to be positive, the distributors believe that the proposed changes still do not fully account for the investments made between one tariff cycle and another.
The sector advocates for a compensation model known as "intra-cycle recognition," in which investments in technological modernization, digitalization, increased network resilience, and infrastructure expansion would be recognized annually, rather than just during periodic tariff reviews.
According to the companies' assessment, the current model was designed based on historical productivity and no longer adequately reflects the challenges arising from the energy transition, the expansion of micro and mini-distributed generation, and the growing need for investments in electricity grids.
Consultation increases transparency.
During the analysis of the proposal, the board of directors of ANEEL It was determined that the technical area should make available to the agents all the calculations, databases, and models used in the development of the new methodology.
The measure addresses a demand presented by the distributors, who reported difficulties in reproducing the simulations of the new X Factor and evaluating its impacts on tariffs and the remuneration of the concessionaires.
The expectation is that opening up the information will allow for greater participation from stakeholders and improve the quality of contributions submitted during the public consultation.
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