Brazil A-1 auction draws US$1.2bn

Bnamericas Published: Tuesday, December 17, 2013

Brazil's A-1 auction for energy from existing plants held Tuesday sold 14.5TWh of power for delivery next year.

Cesp and Furnas, subsidiaries of state-run power company Eletrobras (NYSE: EBR), supplied the bulk of electricity available, according to power regulator Aneel.

Contracts from the auction totaled 2.7bn reais (US$1.2bn), representing a 0.3% average reduction from the allowed revenue cap of 192 reais (US$83)/MWh.

Curitiba-based utility Copel was the most prolific bidder, clinching 19% of the total energy on offer while Elektro secured 11.2%.

Some 32 companies purchased energy at the round.

Furnas's Itumbiara hydroelectric plant provided almost half of the total power on offer, selling 6.50TWh at 191.37 reais/MWh.

Cesp's biggest seller was the Ilha Solteira hydro, which offloaded 2.21TWh.

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