Drought Strains Brazil Hydropower Supply, Raising Energy Costs [Financial Post (Toronto, Ontario, Canada)]
XP Inc. - Class A (XP)
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Source: Financial Post
Author of the article: You can save this article by registering for free here . Or sign-in if you have an account. (Bloomberg) — A worsening drought across Brazil that has stoked record wildfires and withered crops now threatens the country's power supply, raising the risk of higher prices and blackouts in South America's largest economy. Hydroelectric plants supply more than half of Brazil's power, typically at low cost. But the reservoirs that feed those plants are shrinking in the drought. Dams in Brazil's Southeast-Midwest region are at an average of 57% of total capacity, according to the country's power grid operator, known as ONS. That's down from 68% in June. A year ago they were above 78%. “The situation is serious,” said Ana Paula Ferme, head of utilities at Thymos Energia, an energy consultancy in Sao Paulo. “The impacts range from energy supply risks to inflation, requiring coordinated actions to mitigate consequences.” In response, the country may need to rel
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