Brazil’s Petrobras under pressure from unpaid power bills

Hydroelectric power generators are refusing to pay their debts, adding pressure to Petrobras in Brazil.

The company is the largest creditor of power companies as it made available its more than 20 thermal power companies to the operator of the national grid in order to guarantee the power supply in the drought period.

These thermal plants have short-term contracts selling to the market, with the bill tackled by the electric energy chamber CCEE.

Last year the MW/hour price was R$822 ($213) while in 2015, with the stress of drought, the bill has skyrocketed.

Earlier this year, Eletrobras and Petrobras settled a fight worth billions of dollars in late payments.

No posts to display