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Brazil Eletrobras delays auction of power distributor – Report

Power News - Published on Mon, 20 Aug 2018

Image Source: businessinsider.in
REUTERS reported that Brazil's Eletrobras has delayed the auction of a power distributor based in the state of Amazonas to Sept. 26 from Aug. 30, while keeping the original date for three other units. The company said that Amazonas Distribuidora de Energia will be put on the block in September while Eletroacre, Ceron and Boa Vista Energia will be auctioned off in August.

Centrais Eletricas Brasileiras, as Eletrobras is formally known, is seeking to offload heavily indebted distributors ahead of government plans to privatize the overall company.

Eletrobras's Cepisa unit was auctioned to sole bidder Equatorial Energia in July. The sale of its Ceal unit, based in Alagoas state, is suspended due to a court decision.

The auctions hit a snag after a Supreme Court judge ruled in June that all privatizations must be approved by Congress, with a lower court stepping in to apply the decision to Eletrobras. The lower house of Congress gave its approval in July to privatize the distributors but the Senate has yet to vote on the matter.

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Posted By : Rabi Wangkhem on Mon, 20 Aug 2018
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