The Federal Government published this Wednesday (5) a decree that makes it easier to use the Itaipu hydroelectric plant bonus from the previous year to cover any deficits in the plant's Electric Energy Commercialization Account.
With this measure, the expectation is to avoid an increase in the energy tariff for consumers in the captive market of 5,99% this year, according to calculations by ANEEL (National Electric Energy Agency).
The Decree 12.390/2025 authorizes ENBPar (Brazilian Nuclear and Binational Energy Participation Company), the state-owned company responsible for managing Itaipu, to establish a technical financial reserve with the positive balance of the Commercialization Account at the end of the previous year.
The amount may include recomposition values not yet distributed and will be used to mitigate impacts on cash flow and variations in the plant's transfer tariff, with a limit of 5% of the expected annual collection.
A ANEEL will annually approve the value of the financial reserve after the presentation of the result of the Marketing Account.
Calculation error correction
The decree corrects a calibration error in the agreement signed between Brazil and Paraguay in May last year to set the price of Itaipu energy in 2024, 2025 and 2026.
At the time, Paraguayan President Santiago Peña advocated an increase in the tariff to just over US$22,00 kW/month, even after the hydroelectric plant's financing was paid off. This amount, however, would result in a significant increase in Brazilians' electricity bills.
With the negotiation led by the Minister of Mines and Energy, Alexandre Silveira, a compromise was reached: the tariff for energy sold by Paraguay to Brazil was readjusted by 15,4%, rising from US$ 16,71 to US$ 19,28 kW/month until 2026.
On the Brazilian side, the tariff of US$ 16,71 kW/month was maintained, plus US$ 0,95 kW/month to cover the cost of energy provided by Paraguay, totaling US$ 17,66 kW/month.
This balance was made possible by a commitment by Itaipu itself to contribute around US$300 million annually to subsidize the tariff on the Brazilian side. However, the amount was not enough, generating a deficit of R$333 million in the 2024 Commercialization Account.
Added to the amount needed to balance the account in 2025, the total impact would be US$ 120,9 million (approximately R$ 700 million), resulting in a 5,99% increase in the transfer fee. The decree issued by the Federal Government seeks to avoid this transfer to the consumer.
Itaipu Bonus
The Itaipu bonus is a positive balance generated in the Itaipu Electric Energy Marketing Account at the end of a financial year.
This balance may arise due to several factors, such as variations in tariff collection, lower than expected operating costs or extra revenue related to the sale of energy.
This accumulated amount can be used to reduce tariff impacts, helping to balance the plant's cash flow and avoid significant increases in Brazilian consumers' electricity bills.
With the recent decree from the Federal Government, this bonus can be used to cover deficits in the Itaipu Commercialization Account, ensuring greater predictability in the transfer of the tariff to the consumer and avoiding abrupt adjustments in the captive energy market.
all the content of Canal Solar is protected by copyright law, and partial or total reproduction of this site in any medium is expressly prohibited. If you are interested in collaborating or reusing part of our material, please contact us by email: redacao@canalsolar.com.br.
Comments
Comments are moderated before publication.Comments should be respectful and contribute to a healthy debate. Offensive comments may be removed. The opinions expressed here are those of the authors and do not necessarily reflect the views of the author. Canal Solar.