RIO DE JANEIRO, Feb 27 (Reuters) - Brazil’s electrical power utility regulator granted several top distributors special rights to raise average power rates by more than a fifth to cover higher costs related to a shortage of new generating and transmission capacity and a drought.
Cia. Paranaense de Energia, received the highest authorized rate hike. The utility, which provides power to residential and industrial clients in Brazil’s southern state of Parana, was allowed to raise its average rates by 36.4 percent.
Eletropaulo Metropolitana SA, which is controlled by U.S. utility AES and serves clients in Sao Paulo, South America’s largest city, was granted an average, special increase of 31.9 percent.
Cia. Energetica de Minas Gerais received a special rate authorization of 28.8 percent. Rio de Janeiro utility Light SA was granted a 22.5 percent average increase. (Reporting by Jeb Blount; Editing by Chris Reese)