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Brazil Power Regulator Won’t Negotiate on Rates, Estado Says

Dec. 9 (Bloomberg) -- Brazil’s power regulator, known as Aneel, won’t negotiate with power companies seeking further changes to a measure that would require them to lower electricity rates in exchange for automatic license renewals, agency director Nelson Hubner told Estado de S.Paulo.

The government is seeking alternative plans to achieve a 20 percent reduction in electricity rates without the participation of some companies, Hubner said in an interview published today.

One option would be to temporarily remove some taxes on the energy industry, but this would require a contribution from the Treasury, Hubner said.

If Belo Horizonte-based Cia Energetica de Minas Gerais prevails in a potential court challenge to maintain licenses on three of its main hydroelectric plants, the government would honor the court’s decision, Hubner said.

Calls to the Aneel press office today by Bloomberg News went unanswered.

To contact the reporter on this story: Gabrielle Coppola in Sao Paulo at gcoppola@bloomberg.net

To contact the editor responsible for this story: David Papadopoulos at papadopoulos@bloomberg.net

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