Agency will analyze association’s claim against collection; companies had greater debt than allowed in contracts
The board of directors of the (National Electric Energy Agency) scheduled for this Tuesday (12.Nov.2024) the analysis of a process that could determine a contribution of approximately R$7 billion to regularize distributors that did not meet financial health criteria determined in the concession contracts.
The concessions of e , in Rio de Janeiro, and , in Brasília, came into the regulatory agency’s sights because they presented a debt greater than that allowed by Aneel. From 2022 to 2023, concessionaires had annual debt above the limit of 10% of Ebitda (Profits before interest, taxes, depreciation and amortization).
In these cases, according to a 2021 Aneel resolution, company shareholders need to make a contribution to maintain the debt within the limit of the regulatory agency and regularize the situation.
Although Aneel found non-compliance, the companies were not charged due to a precautionary measure presented by the (Brazilian Association of Electricity Distributors). The entity asked Aneel to review the evaluation criteria to save or mitigate impacts for companies.
If Aneel’s understanding goes against Abradee’s claim, the precautionary measure falls and the companies’ controllers will be obliged to make the contributions immediately.
LIGHT IN DELICATE SITUATION
Of the 3, Light is the concessionaire with the most serious situation. In addition to being the company with the largest debt, the company is going through a judicial recovery process that has reduced its market value. Today, the concessionaire in the city of Rio has a market value of R$1.8 billion. In other words, just the contribution to save the concession is twice what the company is worth.
The fact that Enel RJ is on the list is also no coincidence. The State has one in relation to energy theft, known as “gato”. In 2023 alone, Enel’s concession in Rio de Janeiro saw 150,000 cases of electricity theft.
