The results of electric companies for the fourth quarter of 2021 oscillate between low and high. The improvement in the hydric scenario mitigated the pressure of the GSF on the hydroelectric plants, at the same time it led to a sharp drop in the PLD, removing pressure on the generators with exposure to hydrological risk.
From the week’s disclosures, the highlights are the increase in the profit of EDP Brasil, which should invest in solar while still trying to sell hydroelectric plants, and the manufacturer Weg, which had an increase of more than 50% in its 2021 profit, compared to 2022, and should focus on the internationalization of mature markets in the country, such as onshore wind and electric motors.
PetroRio also reported fourth-quarter profit growth of 32% year-over-year, driven by higher oil sales volume and price. And if we’re talking about oil companies, Petrobras’ gas production grew 5% in January.
Engie Brasil Energia had a net income of R$78 million in 4Q21, a 92.4% decrease compared to the last three months of 2020, reflecting, among other factors, the recognition of an accounting write-off, due to the intention to sell the company. UTE Pampa Sul and EGSD.
The Neoenergia group also recorded a write-off that impacted net income, which dropped to R$635 million in 4Q21, down 36% from the same period of the previous year. The write-off was due to the reclassification of its stake in Norte Energia, the Belo Monte concessionaire.
Energisa also announced an agreement to acquire Gemini Energy, a transmission line concessionaire in Pará and Amapá, for R$ 822.5 million, plus the assumption of net debt of R$ 1.73 billion.
The market does not live only on balance sheets, even if political and legal movements also balance the results of companies.
And this week was very busy in the political context, check it out:
· Aneel will consult MME on the possible cancellation of the capacity auction
· Bolsonaro declares interest in small nuclear reactors
· Eletrobras postpones balance sheet disclosure amid privatization
· TCU approves Eletrobras privatization modeling
· Bolsonaro publishes MP on Cofins adjustments in ethanol
The National Electric Energy Agency (Aneel) had important decisions at the last board meeting. An unprecedented one, and mediating the conflict between companies, and another protocol, that of the approval of the public notice for the transmission auction, which, after the public consultation, had an increase in installations and the volume of investments.
The Water Scarcity Account, also within the scope of the municipality’s deliberations, can reduce the energy tariff for 2022 by 3.41 pp To boost economic recovery and reduce water consumption in a generation, a green recovery, through expansion of wind energy, could bring an increase of US$ 8 billion to the Brazilian economy in the next four years.
