Climate change adds pressure on Brazil’s power system

Climate change is suspected to have a direct impact on the Brazilian power sector and consumers’ electricity bills. Between 2016 and 2020, the inflow of water into hydroelectric dams because of rains was well below the average recorded by the National Electricity System Operator (ONS) in a period of almost nine decades: 85.6% in the Southeast/Central-West (the main system in the country), 49.3% in the Northeast, 88.4% in the South and 76.2% in the North.

Source: Valor International

Micro and small companies created 75% of formal jobs

Micro and small companies created 195,600 formal job vacancies in January this year, almost double the number recorded in the same month of 2020, when 103,900 vacancies were created. The analysis was made by the Brazilian Service to Support Micro and Small Enterprises (Sebrae) based on data from the General Cadastre for Employed and Unemployed (Caged). The positive balance in January corresponded to 75% of all 260,353 formal jobs generated by all companies in the country in the month.

Source: G1 Economia

Asset management buys 20% of Comerc Energia group for $36 mm

The asset manager Perfin has closed a deal to buy 20% of Comerc Energia, a group that operates in the electricity trade and other niches of the electricity sector, for an investment of R$ 200 million ($36 mm). The transaction, confirmed to Reuters by Comerc’s press office, occurs in a heated moment of the energy trading market in Brazil, which has registered the opening of several new companies and operations to buy stakes in companies that operate in the segment.

Source: Money Times

Eletrobras makes $230 mm profit, 44% drop

State-owned energy company Eletrobras had a net profit of R$1.27 billion ($230 mm) in the fourth quarter of 2020, down 44% on the R$2.27 billion ($ 412 mm) in the same period of 2019, according to financial statements sent to the Securities and Exchange Commission (CVM). The amounts refer to the profit attributable to the company’s shareholders. Net operating revenue totalled R$9.01 billion ($1.6 bn) from October to December last year, up 17% from R$7.71 billion ($1.4 bn)in the same interval of 2019.

Source: Valor Investe