A ANEEL (National Electric Energy Agency) and the MME (Ministry of Mines and Energy) released this Thursday (2) the conditions of the loan from Covid Account, which aims to reduce the impacts of the new coronavirus pandemic on electricity bills and inject liquidity into companies in the electricity sector.
The interest rate on the credit operation, which can reach up to R$16,1 billion, will be up to CDI (Interbank Deposit Certificate) + 2,9% per year, the equivalent, according to the ANEEL, the IPCA (Broad Consumer Price Index) plus 5,2%.
The two bodies informed that the results of the selection of banks, led by BNDES, that will make Conta-Covid viable have been released. However, the names of the participants were not disclosed.
According to the MME and the ANEEL, the first tranche of bank financing should be released in July, but for this to happen, distributors must sign up by next Friday (3).
The agency also highlighted that the current conditions of the Covid Account are better than those of the ACR Account (Regulated Contracting Environment), negotiated in 2014 to alleviate distributors' losses with involuntary exposure to the short-term market.
Covid Account Regulation
A ANEEL approved, on June 23, the regulation of the Covid-Account, establishing a limit of R$16,1 billion for the loan that will provide liquidity to distributors. The amount will be offered to the electricity sector by banks to be paid over the next five years.
The operation was created by Decree 10.350 with the aim of receiving funds from bank loans contracted by the CCEE (Electric Energy Trading Chamber) intended to cover deficits or advance revenue, in whole or in part, from distributors with various items from April to December 2020.
