RIO DE JANEIRO, Oct 18 (Reuters) - Brazil’s EDP Energias do Brasil SA on Tuesday said the country’s electricity utility regulator ANEEL approved an average rate cut for customers of its EDP Bandeirante unit of 23.53 percent.
The cut will reduce electricity rates for EDP Bandeirante’s high-tension clients, primarily industrial users, by 28.64 percent and 19.51 percent for low-tension clients, the company said in a securities filing.
On Tuesday, before Energias do Brasil released its securities filing, its shares fell 1.15 percent, their first decline in five sessions, to 15.44 reais, pulling back from Monday’s all-time high close of 15.62 reais.
The rate adjustment takes effect on Oct. 23, Energias do Brasil said. (Reporting by Jeb Blount; Editing by Sandra Maler)