CCEE to hold small-scale power auction Sep 29

Bnamericas Published: Friday, September 01, 2006
Brazil's power trading board CCEE plans to hold an auction September 29 where power distributors can buy or sell up to 1% of their demand for the next 12 months, power regulator Aneel said in a statement. The auction will take place online and companies have until September 15 to register. These auctions are held annually and allow Brazil's 67 power distributors to adjust their power purchase contracts to real demand. Most of the power distributed by power companies is bought 3-5 years in advance according to forecasts for future demand. As a result, Brazilian legislation allows companies to sell outstanding power or buy power to cover shortfalls in these annual auctions. This well be the third such auction held since the new legislation was implemented in March 2004.

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