The energy sector offers a very positive scenario for the years to come. To ensure the success of predicted energy auctions in 2013, the energy sector and the federal government have negotiated the revision of rates of return for investments in the sector.
In accordance with the Ten-Year Energy Expansion Plan 2020, the installed capacity of the Brazilian electrical energy generating complex should grow by 56% over the next decade, representing an increase of approximately six thousand megawatt hours per year. The National Interconnected System (SIN), responsible for the distribution of all this energy, should grow by 43% and reach 142,000 km of transmission lines. To illustrate this positive diagnostic, it is worth citing the predicted R$148 billion in electrical energy project contracts, of which R$ 120 billion is directed to the area of generation.
The energy sale agreement with Votener is subject to annual adjustments. The current tariff of R$188.00 per MWh refers to the most recent adjustment, which occurred in May 2012. The average tariff (R$/MWh) presented also takes into account the sale of surplus energy and reimbursement of tariffs for usage of the transmission network (TUST). Rio Verde presented growth in gross revenue from energy generation of 13.3% on the previous year.
During the year, there was only one recorded interruption in the production of energy, of less than one hour, due to the pre-programed inspections of two machines. This excellent result is thanks to the preventative maintenance carried out on the equipment. Inspections are carried out after every ten thousand hours in operation. GRI EU28; EU29
What is more, this promising scenario for hydroelectric energy production and wind (Eolic) power generation is likely to accelerate still further over the next few years. In 2011, there was a 6.2% increase in hydroelectric production and Eolic generation grew by 24.3%. On the other hand, production of electricity from biomass (generated from sugarcane) saw a reduction according to the National Energy Balance 2012.
Even when reduced to 44.1%, the proportion of renewable energy in the Brazilian energy matrix is well above the global average of 13.3%, according to the International Energy Agency.
The energy sector also has its share of risks, principally those connected to weather and climatic events. Long periods without rain can require energy rationing measures. This is what happened in Brasil between 2001 and 2002, when an energy crisis was triggered after several years of severe drought. But damage such as this can be minimized. An efficient plan of risk management, carried out by Rio Verde, ensured its continued energy production in 2012, despite facing an extended period of drought.
In the electricity sector, risk is concentrated around energy demand, which directly influences regular cash flow.
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