Brazil's Eletrobras says ordered to return $625 mln to fund

viernes 30 de septiembre de 2016 07:37 GYT

RIO DE JANEIRO, Sept 30 (Reuters) - Brazil's state-led electricity-utility holding company Eletrobras said on Friday that Brazil's power industry regulator ordered it to return 2.04 billion reais ($625 million) to a government utility expansion fund after an appeal.

The payment is for excess profit and fees, plus interest and inflation, that Centrais Eletricas Brasileiras, as Eletrobras is formally known, earned between 1998 and 2011 for managing the fund, known by its Portuguese initials RGR.

($1 = 3.2583 Brazilian reais) (Reporting by Jeb Blount; Editing by Chizu Nomiyama)