Eletrobras reports $390 mln second-quarter loss

sábado 15 de agosto de 2015 11:52 GYT

SAO PAULO Aug 15 (Reuters) - Brazil's state-run electric utility Eletrobras has posted a wider second-quarter loss due to weaker hydropower generation and provisions for pending court cases.

Centrais Eletricas Brasileiras SA, as the company is also known, reported a quarterly net loss of 1.36 billion reais ($390 million) compared with a loss of 109 million a year earlier, according to a late Friday securities filing.

The company's generation units had to buy twice as much fuel for costly thermoelectric plants in the quarter due to weak output from hydroelectric dams during a prolonged drought.

Eletrobras also set aside 848 million reais for possible losses in court, including cases against its Furnas and Chesf divisions, which the company did not detail in its earnings.

Brazil's energy minister announced plans this month to turn off 2,000 megawatts of thermal power generation due to recent rains, new wind power capacity and weaker demand during a sharp economic downturn.

($1 = 3.49 Brazilian reais) (Reporting by Brad Haynes; Editing by David Holmes)