Aneel proposes an average reduction of 5.89% in Light’s tariffs after judicialization

Aneel (National Electric Energy Agency) opened this Tuesday (11) a public consultation on an extraordinary readjustment of the tariffs of the Light distributor, proposing an average reduction of 5.89% to consumers.

The Rio de Janeiro distributor has already undergone an annual adjustment in March, when rates had an average increase of 14.68%. However, these amounts must now be reviewed because of a law passed in June that determined the full refund to consumers of tax credits earned by distributors after the exclusion of ICMS from the PIS/Cofins calculation base on electricity bills.

The opening of public consultation by Aneel takes place after the judicialization of this case by Light, which considered the law unconstitutional and filed lawsuits to prevent the extraordinary review of its tariffs previously.

“Aneel is obliged, by virtue of the court decision rendered in favor of Light, to carry out a public consultation prior to deliberation on the merits”, explained Helvio Guerra, the reporting director of the case at Aneel, in a meeting this Tuesday.

The public consultation, which is open for 45 days, can lead to an average reduction of 5.89% in Light’s tariffs, which serves around 4 million consumer units in Rio de Janeiro. An average effect of -5.68% is estimated for consumers connected to high voltage and -6.00% for low voltage ones.

The calculations took into account about 1.85 billion reais in PIS/Cofins tax credits to be reverted to consumers via tariff reduction.

The return of these credits has been an important factor in reducing energy tariffs and, consequently, in the inflationary pressure that occurred at the beginning of this year.

Other distributors also questioned the content of the law that required the full refund of these tax credits, as they understand that part of these amounts are the right of the companies. In the specific case of Light, the credit agency Fitch Ratings assessed that the transfer could put pressure on the company’s credit profile.