Electric Power - Brazil - Brazil schedules May energy auction from existing plants

Brazil's next electric power auction from existing power plants will be held in May, according to the mining and energy ministry (MME).

The bid round, dubbed auction A, will offer contracts for power supply beginning on June 1 this year and ending on June 30, 2015.

MME did not disclose the date of the auction but said all energy sources would be free to participate.

"Distributors can contract electric energy which corresponds to their replacement needs [of sold energy]," MME said in a statement published on the website of federal gazette Di?rio Oficial da Uni?o.

MME added that utilities had until April 12 to declare their energy needs for the remainder of the year.

Interested bidders must provide proof of their plants' physical guarantees or those of outsourced generators, MME said.

Source: http://feedproxy.google.com/~r/BusinessNewsAmericas-TopStoriesEN/~3/PFVZd1Z_pbI/brazils-mme-schedules-may-energy-auction-from-existing-plants1

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