In 20 years, the subsidiaries of Eletrobras have accumulated losses of 22 billion reais

The six Eletrobras distributors (ELET6) that the government plans to privatize on July 26 have accumulated a loss of 22.3 billion reais since 1997, when the Union temporarily took over these companies with the intention of selling them for private initiative. Twenty years later, the announcement of the sale is published, but obstacles to Congress and the judiciary, a few weeks after the auction, can postpone the plans again.

Last week, Federal Supreme Court Minister (STF), Ricardo Lewandowski, withdrew the Alagoas (Ceal) distributor from the litigation until the state and the government federal include compensation that the state government claims to receive. 19659004] In Congress, it is still necessary to vote on the bill that resolves disputes with distributors in the North, mainly Amazonas Energia.

Distribution was never an activity of Eletrobras, but ended up being "left" for the company 20 years ago, when the federal government renegotiated and badumed the debts of the states. In exchange, under the agreement, states should privatize their distributors.

This was a thriving business for several of them, in the case of São Paulo, Rio and Espírito Santo. The operation gave birth to companies like Eletropaulo, CPFL, Light and Escelsa

Distributors staying at Eletrobras were the ones who could not be sold. From the beginning, the federalization of businesses had to be a temporary situation.

Eletrobras had the intention to promote improvements in the companies so that they could be privatized in a moment. The auctions of Ceal, Alagoas and Cepisa, Piauí, in 1998 and 2000, failed due to a lack of interested parties.

Losses

Even outside the hands of states, distributors continued under strong influence of politicians and held many parties between parties for many years. According to BNDES calculations, in 20 years, retailers consumed R $ 22.3 billion.

As 60% of the shares of Eletrobras belong to the Union, this money came, in the last instance, taxes from all Brazilians. ] In 2016, the shareholders of Eletrobras decided, in badembly, not to renew the concessions of the distributors. Since then, Eletrobras has acted as a temporary service provider to maintain service in these states.

The combination was that the company would not use more resources to play the distributors. Therefore, the National Electric Power Agency (ANEEL) authorized increases of more than 10% of the consumer tariffs served by the companies.

In addition, in almost two years, they consumed about R $ 4.5 billion in subsidized loans.

With negative equity (debts much larger than its infrastructure), distributors will be sold for R $ 50,000, a symbolic amount.

Workers in companies, a contingent of more than six thousand people, fear losing their jobs when there is an exchange of control of stocks. The average salary paid by distributors is R $ 11.7 million, almost triple the average of private sector companies. The information comes from the newspaper O Estado de S. Paulo