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Energy, dollar and other issues (Brazil)
Energy, dollar and other issues (Brazil)
We have contradictory signs in energy in Brazil. Oil - for example - is indexed to the dollar and the international quotation. Electricity follows a Brazilian rule.
Petrobras - the Brazilian oil giant state controlled company has recovered mainly because of this international price parity.
Electric energy companies, which depend on tariffs granted by ANEEL (regulator), may even have their balance sheets in the local currency showing good results, but this would not be the case if they were "translated" into hard currency.
With the prevailing scenario of the Brazilian economy, to remain at a pace well below that of most countries, Brazil's attractiveness to international investors is well below a reasonable benchmark.
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