Norte Energia, the concessionaire of the Belo Monte Hydroelectric Power Plant, obtained a favorable decision in Federal Court that prevents the ONS (National Electric System Operator) from executing R$466,8 million in guarantees.
The controversy involves the methodology for calculating the CUST (Transmission System Usage Contract) and the charging of sectoral charges for the use of the transmission infrastructure.
In a material fact, the company reported that the 11th Panel of the TRF-1 (Federal Regional Court of the 1st Region) maintained the previously granted emergency relief, ensuring the company the suspension of the execution until there is a regulatory definition on the matter.
"Between August 2024 and July 2025, the sectoral charges arising from the CUST were paid based on a court decision issued on July 30, 2024, within the same case. In June 2025, the TRF1 partially granted the ONS's motion for clarification, without altering the merits in favor of the company. The only thing that remains pending is the regulatory agencies' determination of the calculation methodology," said Júlio César de Oliveira Freitas, Administrative, Financial and Investor Relations Director at Norte Energia.
The ONS is charging amounts exceeding R$400 million for charges that, according to the Operator, should have been passed on to approximately 15 transmission concessionaires. The disagreement lies in the interpretation of the CUST calculation basis: Norte Energia argues that the amount due should consider only the energy actually transmitted, not the plant's entire available capacity.
In a letter sent to ONS, ABRATE (Brazilian Association of Electric Energy Transmission Companies) pointed out that, between August 2024 and March 2025, Norte Energia failed to transfer approximately R$411 million to transmission companies.
"Norte Energia reiterates that there is no court decision supporting any retroactive charges for the aforementioned period. Therefore, it does not recognize the legitimacy of the execution of the contractual guarantees, as previously communicated to the ONS and Caixa Econômica Federal, the institution responsible for managing these guarantees," Freitas concluded.
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