Electricity bill and Eletrobras sales: learn everything about the subject!
Learn more about what changes regarding the electricity bill and Eletrobras sales
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Electricity bill and sale of Eletrobras: these issues are being widely discussed in Brazil at the moment.
But after all, what will change with the privatization of Eletrobras?
That’s what we’re going to talk about in today’s article! To better understand the privatization of this company, continue reading.
What is Eletrobras?
Eletrobras is a Brazilian company in the electric energy sector.
It is a leading company in electricity transmission in the country, and is considered the largest company in the sector in Latin America.
In addition, it also operates in the energy efficiency and marketing segments, as well as in programs such as Procel, the Luz para Todos Program and Proinfa.
In 2008, the Eletrobras was authorized to operate abroad. Its focus is on the American continent. Created as a mixed-economy company, the company was privatized on June 14, 2022.
When was Eletrobras created?
The creation of Centrais Elétricas Brasileiras SA (Eletrobras) was proposed in 1954 by the president at the time, Getúlio Vargas.
However, the project in question faced great opposition. For this reason, it was only approved after seven years of processing.
In 1961, President Jânio Quadros authorized the Union to establish the company.
The company's official installation took place on June 11, 1962. In other words, in 2022, the largest energy company in Latin America turned 60 years old.
Privatization of Eletrobras
The privatization of Eletrobras was officially completed in June 2022, in a ceremony at B3, the Brazilian Stock Exchange.
With this operation, it was the first state-owned company to be privatized during Jair Bolsonaro's government.
The privatization took place through a share offering, which aims to capitalize the company and dilute the union's participation.
In other words, the Eletrobras privatization model foresees the capitalization of the company through a global public offering of shares, that is, with the placement of shares in Brazil and abroad.
Even with the public offering (distribution of shares in a company), which will remove the Union's status as the company's controlling shareholder; it will continue to be the main shareholder of this company in the electricity sector.
However, according to the proposed model of the offering, there will be a distribution of the company's shares, thus preventing a single shareholder from having control over the company – according to the new Eletrobras Bylaws, no shareholder may have voting power greater than 10% of their shares.
This text was written based on the article published by Info Money.
Where does the money from the privatization of Eletrobras go?
The privatization, in its debut, moved more than R$$ 33 billion.
In the coming years, it will be more than R$30 billion.
The value of the resources will be divided as follows:
• R$ 32 billion will be allocated to the Energy Development Account (CDE) over the next 25 years, with R$ 5 billion to be paid in 2022. The objective is to mitigate tariff adjustments and subsidize sectoral policies;
• R$ 25.3 billion will go to the Treasury and refer to the so-called concession bonus, which will be paid by the privatized Eletrobras to the Union for the renewal of the contracts of the company's 22 hydroelectric plants; and
• R$ 9.7 billion are investment commitments in river basins, which must be carried out over a period of 10 years.
Source: G1
Electricity bill and sale of Eletrobras: will the electricity bill be cheaper?
This is one of the main doubts that arose with the privatization of Eletrobras.
After all, will the electricity bill be cheaper or not?
First of all, it is important for you to know that the privatization of the company does not have as its main objective to reduce the value of the electricity bill, but rather to restore its investment capacity.
This means that even if the Ministry of Mines and Energy maintains the forecast of reducing electricity bills, the idea, in this case, is to bring more resources to the treasury.
The price will depend on the market. In fact, it is expected that this market, with increased competition, will generate lower prices, which may benefit the consumer in the long term.
However, the government cannot guarantee that the value of the electricity bill will decrease in the future.
However, the Ministry of Mines and Energy reinforced that the allocation of part of the resources from the privatization of Eletrobras to the CDE should result in a reduction in charges for the consumer.
There is an estimate that the tariff effect variation scenarios could reach a reduction of up to 7.36% (bold scenario).
See more at UOL website about the privatization of Eletrobras and its impact on the electricity bill.
FGTS for purchase of Eletrobras shares
More than 370 thousand workers reserved shares in the company through their FGTS (Service Time Guarantee Fund) resources.
The total amount of money set aside almost reached R$1.4T9 billion.
This amount was approximately R$1.4 billion above the ceiling established by the company.
For this reason, there was a distribution among the investors who went use the FGTS and each of the investors managed to acquire around two thirds of the requested amount.
According to Caixa Econômica Federal, the amounts that will not be used to purchase shares will return to the FGTS account.
Those who invested money in the fund will only be able to resell the company's shares in one year. After the grace period, redemptions will be possible.
However, there are exceptions. In the event of dismissal, diagnosis of serious illness, retirement or purchase of own property, the worker may request withdrawal of FGTS even during the grace period.
Will there be Income Tax on gains obtained from shares purchased with FGTS funds?
If the gains obtained by privatization mutual funds are less than or equal to the income limit of the FGTS account in the same period, they will be exempt.
However, if they are superior, there will be an income tax charge.
In other words, the charge will be made on income that exceeds the FGTS remuneration between the date of application and the date of redemption – and the rate will be 15%.
Source: InfoMoney
Conclusion
Electricity bill and Eletrobras sales: now you know how it works.
It is important to remember that the privatization of the company does not have as its main objective the reduction of the value of the electricity bill. Furthermore, experts believe that this will not happen in the short term.
After all, the electricity sector is already dominated by private companies and they are the ones who set the rates for consumers.
Therefore, there is no way to guarantee that the value of the electricity bill will decrease for Brazilians.
