By Brazil Stock Guide – Brazil’s electricity regulator ANEEL approved tariff adjustments for nine power distributors on Wednesday (22), affecting utilities operating in states such as Mato Grosso do Sul, Mato Grosso, Bahia, Sergipe, Rio Grande do Norte and parts of São Paulo state. The increases range between 5% and 15%, with mechanisms applied to ease the impact on consumers.
Some distributors benefited from early access to funds linked to the Use of Public Asset (UBP), a compensation tied to hydropower concessions. Neoenergia Coelba (NEOE3 BZ) will receive 991 million reais and implement a 5.85% increase. Energisa Sergipe (ENGI11 BZ) obtained 135.2 million reais, with tariffs rising 6.86%. Neoenergia Cosern (NEOE3 BZ) secured 181.2 million reais, resulting in a 5.4% adjustment, while Energisa Mato Grosso (ENGI11 BZ) will see a 6.86% increase after receiving 416 million reais.
Distributors without access to UBP funds were allowed to defer costs to limit immediate tariff hikes. CPFL Paulista, part of CPFL Energia (CPFE3 BZ), had a 12.13% adjustment approved, supported by a 812 million reais deferral. CPFL Santa Cruz also used the mechanism, deferring 59 million reais and reaching a 15.12% average tariff effect.
Energisa Mato Grosso do Sul (ENGI11 BZ) applied a 21 million reais deferral, resulting in a 12.11% increase. Enel Ceará, a unit of Enel SpA (ENEL IM), will implement a 5.78% adjustment, influenced by a positive deferral carried over from its 2025 tariff cycle.
ANEEL also authorized a public consultation for the tariff review of Energisa Sul-Sudeste (ENGI11 BZ), with an estimated average increase of 7.23% and no deferral mechanism currently предусмотрено.
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