Bovespa Auctions 890MWh Surplus Power Jun.25-27

A series of surplus electricity auctions held June 25-27 on Brazil's Sao Paulo stock exchange Bovespa totaled 890MWh, a Bovespa source told BNamericas.com. The first operation on June 25 was for 100MWh at R$595 (US$253) per MWh, while operations reached 540MWh at R$597 (US$254) per MW on June 26 and 250MWh at R$539 (US$229) per MWh on June 27, according to Bovespa, which has not registered business since then. Bovespa coordinates the electronic auctions, which run constantly between interested parties, the source explained. The surplus power comes from companies not using the full quotas allotted to them, and have been introduced by the federal government as a means of encouraging power savings and making more power available to those that need it most. More than 40 companies have requested membership to participate in the auctions.