to-the-point: Brazil sets bidding price cap for Sept 23 auction

Brazil's power sector regulator Aneel said Tuesday it has approved a price cap of BRL 248 (USD 76.83/EUR 67.85) per MWh for the September 23 reserve energy auction.

The tender will focus on hydropower plants (HPPs). The projects contracted should start power generation in March 2020 for a 30-year period.

According to state-owned energy research firm EPE, 133 projects were registered for the auction, with a combined installed capacity of 988.1 MW.

Brazil's reserve auctions help increase the security of the national electrical system by contracting new generation plants to avoid future energy losses. The contracts are signed with the Power Trading Chamber (CCEE).

(BRL 1 = USD 0.310/EUR 0.274)

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