Two firms win auction for Eletrobras subsidiaries

Thursday, August 30, 2018

Brazilian firms Oliveira Energia and Energisa won the auction for Eletrobras subsidiaries in Roraima, Rondônia and Acre states.

The auction took place on Thursday on the B3 stock exchange in São Paulo.

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Energisa presented bids for Ceron and Eletroacre in Rondônia and Acre, respectively, without any competing offers. The firms offered discounts of 31% and 21%, respectively, on the prices it would receive in the distributors' next rates review.

Oliveira Energia was the only bidder for Boa Vista Vista Energia, the Roraima subsidiary, without proposing a discount. The firm has operations in both Roraima and Amazonas state.

After several setbacks, energy ministry Wellington Moreira Franco celebrated the fact that the auction had finally materialized.

"We are aware that we have been on extremely difficult path to get here. Today we guarantee that over 3mn Brazilians who are supplied by these firms will see improvements in services and rates," he said at the auction.

Eletrobras plans to auction its Amazonas state subsidiary on September 26. The company also aims to sell Ceal, its subsidiary in Alagoas state, but the process is pending federal audit court clearance. The distribution subsidiary in Piauí state, Cepisa, was bought by Equatorial Energia in an auction in July.