Chamber accelerates projects to reduce electricity bills and improve fuel price transparency

The Chamber of Deputies approved on Tuesday night (31) the urgency of two projects pointed out by President Arthur Lira (PP-AL) as tools to ease adjustments in the electricity bill and contain the escalation of fuel prices, in an attempt to reduce inflationary pressure in the country.

The urgency request of the project that provides for reimbursement of the electricity bill in case of improper collection of taxes was approved by 371 votes in favour. On the other hand, the urgency of the project that gives transparency to the composition of prices of petroleum derivatives received a symbolic vote.

The expectation is that the two texts will be voted on this Wednesday (1st).

The project that deals with the return of amounts collected to more users of public services belongs to Senator Mecias de Jesus (Republicans-RR). The text that requires the disclosure of values ​​referring to components that influence prices of oil derivatives is by Deputy Reginaldo Lopes (PT-MG).

According to the proposal, the disclosure comprises internal extraction costs, refining costs in the country, the realization of Petrobras (production costs plus markup – cost difference between sale price and cost price), amount of levied taxes and other information that directly influences the price of petroleum products.

This disclosure should be made monthly on the ANP (National Petroleum Agency) website.

The project also says that the sales prices practiced by Petrobras for distributors and traders of oil derivatives in Brazil must take into account production and refining costs in national currency plus markup.

Furthermore, considering the guarantee of domestic supply and the economic role of Petrobras, “exports of surplus oil will only be allowed in relation to the volume necessary to guarantee the fulfillment of the country’s domestic demand.”

The texts are part of an offensive by the government and Congress to soften the impact of energy on inflation.

Articulators of the agreement estimate that the package of measures may cause an approximate 20% reduction in electricity bills and, thus, practically neutralize the readjustments planned for this year – some of them exceeding 20%.

The negotiations are intensified at a time when Bolsonaro’s disadvantage widens in the polls in relation to Luiz Inácio Lula da Silva (PT). A new Datafolha survey shows the former president with 54% of valid votes, enough for him to be victorious in the 1st round if the election were held today.