For its part, the Government of Paraguay published a decree to prevent an increase in Itaipu rates.
The Brazilian government, by decree, changed the rules for marketing Itaipu energy in Brazil so that the Brazilian Nuclear and Binational Energy Holdings Company (ENBpar) forms a technical-financial reserve with the positive balance of the binational company's Energy Marketing Account, local media reported this morning.
For its part, the Government of Paraguay published a decree to prevent an increase in the Itaipu tariff, according to the Brazilian media outlet Poder 360 , in relation to the government measure in question.
He added that the measure allows for the creation of a reserve with the surplus from the binational plant's sales and that the value will be approved annually by Aneel (National Electric Energy Agency).
The publication adds that the reference account is used to pay the Itaipú Bonus, which, it explains, is a credit granted annually to consumers on their electricity bills, obviously in Brazil.
In response to the question, what changes?, the report explains that with the government decree, ENBpar “will be able to allocate up to 5% of the annual surplus to this account to constitute the reserve.” It clarifies that the value “must be approved annually by Aneel, after the presentation of the results of the commercialization account of the binational entity.”
Poder 360 points out that the decision in question “was taken to correct an error in the calculation of the financial contribution required for 2025.
THE RISK OF AN INCREASE IN ITAIPÚ RATES
The information material explains that the value approved by the administration of the binational company “would not be sufficient to cover all the additional costs, which could lead to an increase in the energy rate paid by consumers.
Remember that Aneel had set, “provisionally,” a transfer rate (of energy from Itaipú to Brazilian distributors) at US$ 17.66/kW until the 31st of this month.
Given this scenario, the material concludes, “the alternative chosen was to allow the reorientation of part of the resources from the Itaipu marketing account to form the technical reserve, avoiding the need for new financial contributions and maintaining the commitment made by Brazil to Paraguay not to increase the Itaipu rate in the coming years.”
Let us reiterate that “the Itaipu marketing account”, according to the clarification published by the Brazilian side of Itaipu on December 26, “is not managed by the binational Itaipu and is regulated and supervised by the National Electric Energy Agency.”
THEY ARE NOT PART OF THE ITAIPU BUDGET
This Account, in 2024, they detail, had other administered components added, but which “are not part of the budget” of the binational entity.
The Account, they said, “may present a deficit or surplus, due to the nature of its constitution. These results vary depending on the implementation of the assumptions established in the definition of the transfer rate” of Itaipu energy, especially those related to the effective production of electric energy, which is directly influenced by hydrological conditions.”
They added that in that account "only the Unit Cost of Itaipú Electricity Services (Cuse) is set by the binational entity, as a result of the negotiation between Brazil and Paraguay.
Finally, that “the surplus or deficit of Itaipu's marketing account does not impact the company's financial results, that is, it does not generate profits or losses for Itaipu.
Likewise, a possible deficit in the marketing account in 2024 is not related to the socio-environmental programs or sponsorships carried out by the binational Itaipu.”
Regarding the “Itaipu bond”, in another publication, dated in this case on December 27, they define that with this label they refer in Brazil “to the positive balance recorded in the Itaipu Electricity Trading Basin, a regulation of the Brazilian electric sector on energy coming from Itaipu, acquired by ENBpar and transferred to Brazilian distributors.
