With the approval of the term that will be the basis for renewal in 30 years in the concession of 19 energy distributors, the attention of the electricity sector is directed to the complementary processes that directly affect the obligations of private entities. In the list of most anticipated discussions is an appeal from the Brazilian Association of Electricity Distributors (Abradee) that deals with how to measure the economic and financial sustainability of the concessionaires.
At the center of the debate is the consideration of non-recurring expenses and revenues for the purposes of assessing the concessionaire’s ability to honor its economic and financial commitments in a sustainable way. Abradee understands that there are “asymmetries” at this point. The argument is that it has considered only negative provisions, ie estimates of any negative impacts on the balance sheet of companies. Positive provisions, an expected revenue that could eventually enter cash, are not accepted for sustainability measurement.
The process is requested by Aneel’s director, Ricardo Tili. The regulator has already put in public consultation the possibility of accepting only EBITDA (profit before interest, taxes, depreciation and amortization), removing those payments or sporadic receipts, for example, that may not be performed.
On another front, Gustavo de Marchi, vice president of the Electric Energy Commission at OAB/RJ and regulatory specialist, maintains that there is a need to advance the discussion on areas with severe operative restrictions-those with higher non-technical loss rates such as clandestine connection, direct network deviation or meter to the meter. He recalls that this situation has a direct relationship with economic and financial sustainability of companies.
Amazonas Energy is the most emblematic case. A. The consumer, in practice, pays the bill of those who fraud or steal energy. Aneel acknowledges in the fare part of the tariff’s energy thefts to help companies recompose losses, but if the dealership management is identified, the transfer of non -technical losses to the power bill is limited.
Gustavo de Marchi advocates the revision of the metric used today for the classification of severe operative restriction areas. He explains that the characterization via residential zip code, where the post office cannot deliver, is not sufficient to define these areas. “An area today that is operant, active, tomorrow can become complex. This is dynamic. So we have to have a regulation that has these triggers, other than distant, other than airtight. We need to have this flexibility, this regulatory dynamic, ”argues the lawyer and expert.
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A change in the eligibility of which company will be listed in areas of severe operative restrictions is scheduled for the second half, according to Aneel’s superintendent, Camila Bomfim. The classification criteria will be reviewed, with other variables besides the residential zip code.
This whole discussion is parallel to the contractual renewal term for distributors. The new contract, already approved, provides that companies must maintain proper level of cash generation and indebtedness, with space for investments necessary to improve quality for consumers. This according to prior regulation on the subject. Not meeting these obligations would lead to the limitation of dividend distribution and, to the limit, to the expiration of the concession.
“There is the improvement of the contract model. This is fundamental to bring regulatory stability and legal certainty. The text as a whole, it brings important regulatory modernizations, and brings more rigorous rules to distributors, ”says Ricardo Brandão, ABRADEE’s executive director of regulation.
