The Minister of Mines and Energy, Alexandre Silveira, will have to provide clarifications on the risk of default in the free electricity market. The Mining and Energy Committee of the Chamber of Deputies approved a request to question the minister, also demanding the measures that the ministry intends to adopt to avoid the problem.
The author of the request, deputy Arnaldo Jardim (Cidadania-SP), took into a series of concerns in the electricity sector, regarding the increased risk of default.
Jardim highlights that the area is linked to the ACL (Free Contracting Environment), and that the Free Energy Market is regulated by ANEEL (National Electric Energy Agency) and operated by CCEE (Electric Energy Commercialization Chamber), which requires clarification from the federal government.
“The information we have is that marketing agents are experiencing financial difficulties due to the exponential increase in prices in the short-term market, a movement with the potential to impact the business of marketing companies without the proper financial backing,” Jardim highlights.
For the deputy, the concern about a possible increase in default “has reduced market liquidity in recent days”, mainly after failures in predicting the behavior of energy prices and the market, in addition to “financial exposures much higher than the company's share capital, which creates a potential default situation”.
The parliamentarian reinforced that defaulting on the ACL could have serious consequences for agents in the sector and also for consumers in general, given the cascade effect of a possible default.
“The crisis of sectoral confidence would automatically generate an increase in agents’ perception of risk, which would result in the immediate suspension or penalty of new investments and financing flows,” says Jardim.
Consequently, the situation would lead to an increase in the prices of new projects and the need for strong regulatory intervention, certainly impacting the cost of energy and the bill.
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