Brazil to Hold December Auction for Power From Existing Plants

Oct. 9 (Bloomberg) — Brazil’s Ministry of Mining and
Energy will hold an auction for electricity from existing power
plants on Dec. 5.

In the so called A-1 auction, energy companies will compete
for contracts to sell power starting Jan. 1, the ministry said
in a statement on its website today.

Thermal plants, which can use coal, biomass or natural gas,
may win three-year contracts to sell power. Other energy sources
will bid for two- or five-year deals.

In Brazil’s energy auctions, developers bid down the price
at which they’re willing to deliver electricity. The lowest bids
win contracts to sell power to distributors.

To contact the reporter on this story:
Vanessa Dezem in Sao Paulo at
vdezem@bloomberg.net

To contact the editors responsible for this story:
Reed Landberg at
landberg@bloomberg.net
Will Wade, Steven Frank

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