Brazil to renew energy concessions at much lower rates -source
BRASILIA, Sept 12 |
BRASILIA, Sept 12 (Reuters) - Brazil plans to renew licenses for electricity generation utilities on the condition that they sell energy at an average price of 30 reais per megawatt-hour, a government source told Reuters on Wednesday.
That would be less than half the 78 reais ($38.61) per megawatt hour that will be charged by the group building the giant Belo Monte hydroelectric dam in Brazil's Amazon, which is expected to be one of that nation's cheapest new power sources.
Shares of Brazilian electric utilities fell more than 11 percent on Wednesday, their biggest one-day drop in at least five years.
($1 = 2.02 Brazilian reais) (Reporting by Leonardo Goy; Writing by Brad Haynes; Editing by Lisa Von Ahn)
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