Technical area of the Court of Auditors indicates extraordinary profit in billion-dollar reserve event promoted by the government
The technical area of the Federal Court of Auditors recommended on Tuesday (May 19, 2026) the partial suspension of the approval of the results of the (Capacity Reserve Auction in the Form of Power), which contracted R$515 billion in energy reserves from companies such as J&F, Eneva and Petrobras.
The opinion points to overpricing and unusual profits in the contracting of thermoelectric plants that won the dispute. The document suggests freezing the award of part of the results of the contest.
The process is under analysis by Minister Jorge Oliveira, who gave 5 days for the (National Electric Energy Agency) respond to any irregularities. The judge ordered the agency to take a position before the Court, as the approval of the results awaits analysis by the regulator.
TCU technicians stated that there was “risk of disadvantageous and long-term contracting, with significant repercussions for consumers and for the economic rationality of power expansion in the national electricity system”.
The case was opened by the Court’s Specialized Electrical and Nuclear Energy Audit, which investigates irregularities on the part of the Ministry of Mines and Energy when promoting an increase “significant” in prices “without presenting sufficient technical justifications”.
According to the Court, there is evidence that competitors submitted proposals based on the maximum prices in the dispute, instead of basing their bids on the cost necessary for the investments and operations of the plants.
The audit also stated that the auction would have been dominated by large conglomerates, which resulted in the “hiring with high cost and low degree of rivalry”.
COMES AND COMES FROM LRCAP
The TCU’s manifestation takes place after the the pressure on the auction, in March by the federal government. LRCap is of actions in the Administrative Council for Economic Defense, in the Federal Public Ministry, in the Court of Auditors itself and in the Federal Court.
According to the notice, products contracted for 2026 must be approved by Thursday (May 21). The approval should have been analyzed on Tuesday (May 19) by Aneel, but was postponed by decision of director Fernando Mosna, rapporteur on the topic at the agency, who intends to wait judicial manifestation in one of the actions taking place in court before submitting the process to the directors for deliberation.
To meet the deadline established in the notice, Mosna stated that he must call an extraordinary meeting to approve the LRCap if the Court does not decide to suspend the event by this Wednesday (May 20).
