The approval of the first contracts from the LRCAP (Capacity Reserve Auction) has once again stirred the long-term energy market.
According to BBCEThe regulatory progress following the validation of contracts by Aneel has increased the volume of energy trading for the coming years, especially for the annual product of 2027.
Last week, 508 GWh of the 2027 product were traded on screen. There was also significant activity for the 2028 contracts, with 73 GWh traded, and for 2029, which registered 195 GWh traded.
According to Eduardo Rossetti, Executive Director of Products, Communication, Marketing and Institutional Relations at BBCE, the market behavior is reminiscent of the movement observed immediately after the first auction, held in March.
"Just as happened on March 18th, in the first LRCAP auction, we observed last week, after the contracts were approved by..." ANEEL (National Electric Energy Agency), a growth in traded volumes in the long term,” he said.
"These movements indicate an increasingly close relationship between the electricity market and the natural gas market," the executive pointed out.
Market analysts believe that the approval reduces uncertainty and provides greater predictability for market participants, especially at a time when gas-fired power plants are gaining ground in expanding the country's energy security.
Last week, the ANEEL The results of the auction held in March for products with delivery in 2026 have been officially approved. However, approvals are still pending for products contracted for the period between 2027 and 2031, as stipulated in the bidding documents.
The auction held on March 18th contracted 18,97 GW of power, involving hydroelectric and thermal power plants fueled by natural gas and coal.
The traded volume represents approximately R$ 64,5 billion in planned investments between 2026 and 2031. The auction registered a discount of 5,52%, which, according to official data, represented savings of approximately R$ 33,64 billion compared to the initial estimated values.
Two days later, on March 20th, the third LRCAP auction took place, focused on power plants fueled by fuel oil, diesel, and biodiesel. In this auction, 501,321 MW were contracted in three-year contracts. Deliveries begin this year and continue until 2030.
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