Brazil slashes Itaipu hydropower tariff
The price of Brazilian wholesale electricity from the Itaipu hydropower plant will fall by about a third next year, local sector regulator Aneel said on Tuesday.
A meeting of Aneel's board decided that Itaipu's 2016 wholesale tariff would be fixed at US$25.78kW down 32.3% from this year's rate, the watchdog said in a statement.
The body's director general Romeu Rufino said the reduction was a result of the removal of extra charges introduced this year to compensate distributors for drought-related losses.
The price hike meant residential bills rose by an average of 43% this year, according to the reserve bank.
Located on the Paraná river, bordering Brazil and Paraguay, the 14GW Itaipu plant supplies about 28% of Brazil's electricity needs.
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