By Brazil Stock Guide – Equatorial Amapá, the power distribution unit controlled by Equatorial Energia SA (EQTL3.SA), has asked Brazil’s electricity regulator to authorize the early release of 118 million reais ($24 million) tied to proceeds from a hydrological risk auction designed to ease tariffs in the country’s northern states.
The request is scheduled to be analyzed in the regulatory agency’s deliberative circuit on Tuesday (3), according to the agenda. The case already has a favorable vote from rapporteur Agnes Costa and is linked to the company’s annual tariff adjustment process.
The early payment request was filed as a precautionary measure after the regulator postponed a decision on the annual tariff readjustment. The delay followed a request for further review by director Gentil Nogueira, amid political pressure to limit the size of the increase.
Under the original timetable, new tariffs were set to take effect on December 13. With no final ruling, Equatorial Amapá has continued charging previous rates, leaving the distributor without the expected revenue update.
In her opinion, Costa said the delay has affected the economic and financial balance of the concession. She noted that the distributor continues to bear energy procurement costs, sector charges and other financial obligations without a corresponding tariff adjustment.
The funds sought by Equatorial Amapá stem from surplus resources generated in a hydrological risk auction, earmarked to support tariff moderation in Brazil’s North. The regulator is expected to decide on the early release as part of its upcoming deliberations.