Aneel sets cap price for upcoming Brazilian hydroelectric power auction

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Brazilian power regulator Agencia Nacional de Energia Eletrica (Aneel) has set wholesale cap prices for an upcoming power auction that includes more than 130 small hydroelectric plants.

According to a statement issued by the agency earlier this week, there will be a US$77 per MWh cap in the September 23 reserve power auction.

In Brazil, power purchase agreements are awarded to developers who submit the lowest bids for the price of power to be sold from their plants, with the government buying capacity using a reserve model to protect against a future supply deficit.

The cumulative output capacity from the upcoming auction is about 990 MW, Aneel said, with power purchase agreements to be awarded in 30-year deals.

The auction was originally scheduled for late July but rescheduled. Aneel said it plans to hold another reserve auction for renewables later this year.

For more news from Brazil, visit here.

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