Government to announce measures to reduce energy prices by up to 10%, says minister

Minister of Mines and Energy Adolfo Sachsida said Friday (7) that the government would announce measures to reduce energy prices by up to 10% next year in the coming months.

He spoke in an interview with TV Brasil’s A Voz do Brasil program.

Sachsida avoided giving specifics on the measures but said they would help reduce the misallocation of resources and inefficiencies in the power sector.

“Brazil will continue to have new energy savings; it will become cheaper,” he said.

The promises fit into the government’s positive plan as it seeks re-election.

On the issue of fuels, Sachsida said the government would continue to seek new cuts, although Petrobras this week resumed pushing fuel prices at its refineries below international parity.

According to the state-owned company’s pricing policy, these inputs should be adjusted upward to accompany the increase abroad, which is motivated by the rise in oil prices resulting from OPEC production cuts.

“We are working to reduce fuel prices further,” he said without providing further details.

The secretary also said there would be a “framework” for offshore wind and green hydrogen in the coming weeks.

The issue has been slow to be discussed in Congress due to the election calendar, and at least in the case of offshore wind, the sector is currently relying on regulations with initial MME projections that have been put out for public consultation, which ends just before the Oct. 9 deadline.

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