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Brazil Said to Offer Subsidized Loans to Power Distributors

March 7 (Bloomberg) -- Brazil plans to offer subsidized loans for electricity distributors whose cash flow has been reduced by price cuts and higher costs, said two people with knowledge of the measure.

The National Treasury will tap the so-called CDE industry development account to provide cheap funding for distributors, said the people, who asked not to be named because the plan hasn’t been made public. Energy Ministry press department officials didn’t respond to e-mailed and telephone requests for comment on the plan.

Energy Minister Edison Lobao told reporters Feb. 27 that the National Treasury planned to give companies financial assistance after the government lowed prices to contain inflation and low hydro-dam levels mean more power is produced at higher-costs thermo plants.

To contact the reporters on this story: Mario Sergio Lima in Brasilia Newsroom at mlima11@bloomberg.net; Anna Edgerton in Miami at aedgerton@bloomberg.net

To contact the editor responsible for this story: James Attwood at jattwood3@bloomberg.net

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