November 7, 2017 / 2:03 PM / 15 days ago

Brazil drafting bills changing electric sector rules - official

SAO PAULO, Nov 7 (Reuters) - Brazil’s Energy Ministry will send to President Michel Temer three bills within the next 10 days that will propose changes to electricity sector rules and will contain the model for the privatization of state-run utility Centrais Elétricas Brasileiras SA, an official told Reuters on Tuesday.

The ministry will send the first of the bills, one dealing with the sale of distributors owned by Eletrobras, as the company is known, as early as today, said Paulo Pedrosa, Brazil’s deputy energy minister. According to the official, the government plans to offer compensation to Eletrobras in exchange for proposed changes in its hydropower contracts. (Reporting by Luciano Costa; Writing by Ana Mano)

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