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Energy import costs up 63% over last year with hydroelectric crisis in Brazil

RIO DE JANEIRO, BRAZIL - The hydroelectric crisis has led Brazil's electricity imports to skyrocket. The lack of rainfall has forced Brazil to buy more energy from neighbors like Argentina and Uruguay, in contrast to fewer imports from Paraguay, whose Itaipu Binational power plant is also suffering from the shortage of water.

However, experts believe that this rate tends to decrease with the prospect of more rainfall, increased reservoir levels, and higher hydroelectric plant generation.

Data from the Ministry of Economy show that from January through October 2021 electricity purchase costs grew 63.8% compared to the same period last . . .

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