Amazonas Energia owes R$10 billion to Eletrobras

Amazonas Energia owes R$10 billion to Eletrobras
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The CEO of Eletrobras, Ivan Monteiro, stated that the company will take legal measures so that the concessionaire Amazonas Energia can pay a debt of R$10 billion. According to him, payments have not occurred since December 2023, one month after the National Electric Energy Agency (Aneel) recommended the end of the company’s concession to the Oliveira Energia group. The report is from Portal A Crítica.

The speech took place, on Thursday, during the presentation of Eletrobras’ results for the first quarter of 2023. The non-payment to the former state-owned company caused an impact of R$432 million on the company’s cash flow. “We are adopting all legal measures, collecting our credits that are in default. There is a set of dialogues with Aneel and the MME [Ministério de Minas e Energia]”, said Ivan Monteiro.

The executive vice-president of Regulation and Institutional Relations at Eletrobras, Rodrigo Limp, recalled that the concessionaire maintained a period of payment, but stopped paying shortly after Aneel’s recommendation to break the contract. According to him, all negotiations with the agency and the Ministry of Mines and Energy involve the “transfer of control” of Amazonas Energia. “Our expectation is that proposals will come out that make the regulatory parameters more flexible for the entry of a new controller. In particular, after Aneel’s recommendation of expiry. The current controller has been experiencing an increasing loss of service provision conditions, which could have consequences for the quality of energy supply,” he said.

The A CRITICA report contacted Amazonas Energia to comment on the statements made by Eletrobras executives, but has not received a response so far.

Successive errors

In recent months, the population of the State of Amazonas has experienced several blackouts, both in the capital and in the interior. The most recent case occurred on April 26, when the city of Codajás was without electricity for five hours on the day of the 33rd Açaí Festival, the main festival and one of the city’s biggest tourist assets.

For A CRITICA, residents reported that power outages have been frequent and that they had intensified throughout the month of April. Almost two weeks earlier, a blackout left the city of Manaus and municipalities in the metropolitan region without electricity for four hours. According to the concessionaire, the problem occurred due to the disconnection of lines 1 and 2 of the Lechuga system and that the National Electric System Operator (ONS) was responsible.

New contract

In February this year, the Ministry of Mines and Energy recommended that there be a re-tendering of the Amazonas Energia contract. Among the prerequisites highlighted by the body is the need for the new operator to “have technical and economic-financial conditions to provide the distribution service in an area with the complexity of the state of Amazonas”.

The publication also highlighted the company’s economic and financial sustainability, as well as its low cash generation and high debt. Before the expiry recommendation, the Oliveira Energia group tried to transfer the concession to the company Green Energy Soluções, but Aneel gave a negative opinion.

“The parties did not present basic documents such as Green Energy’s balance sheet, such as the report that demonstrates the qualification with previous experience and the technical framework of the new controlling company, the details of the financial modeling of the recovery plan and the draft purchase contract itself and sale of the alleged controller”, reported the Federal Attorney General’s Office to the agency.


The article is in Portuguese

Tags: Amazonas Energia owes R10 billion Eletrobras

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