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REFERENCE CODE GDPE0709ICR | PUBLICATION DATE MARCH 2014
BRAZIL POWER MARKET OUTLOOK TO 2030, UPDATE 2014 – MARKET TRENDS, REGULATIONS
AND COMPETITIVE LANDSCAPE
Brazil Power Market Outlook to 2030, Update 2014 – Market Trends, Regulations and Competitive Landscape 2 © GlobalData. This report is a licensed product and is not to be copied, reproduced, shared or resold in any form.
BRAZIL POWER MARKET OUTLOOK TO 2030, UPDATE 2014 – MARKET TRENDS, REGULATIONS AND COMPETITIVE LANDSCAPE
Executive Summary
Hydropower is the Dominant Source of Power in Brazil
Brazil derives the majority of its power
requirements from hydropower, making use of its
most abundantly available natural resource. In
2013, XX% of Brazil’s total installed capacity was
derived from hydropower. Thermal power from gas
was the second largest source of power, with a
XX% share of installed capacity in 2013, followed
by biomass with XX% and thermal oil power with
XX%. Other technologies, such as onshore wind,
thermal power from coal, and nuclear power,
biogas, and solar Photovoltaic (PV) contributed the
remaining XX% of total installed capacity in 2013.
Power Market, Brazil, Cumulative Installed Capacity by Type of Fuel (%), 2013
HydropowerGas (thermal)
Biomass
Oil (thermal)
Wind (onshore)
Coal (thermal) NuclearOther renewables such as biogas and solar PV
Source: GlobalData, Power eTrack, Capacity and Generation Database [Accessed on February 28, 2014]
Continued Increase in Electricity Consumption and Generation
Annual electricity consumption in Brazil increased
at a Compound Annual Growth Rate (CAGR) of
XX% from XX Terawatt hours (TWh) in 2000 to XX
TWh in 2013. The increase in electricity
consumption was a result of the growth of the
economy and of the population. Annual electricity
generation also increased during this period, from
XX TWh in 2000 to XX TWh in 2013 at a CAGR of
XX%.
Power Market, Brazil, Annual Power Consumption and Generation (TWh), 2000–2013
2000 2007 2013
Ann
ual p
ower
con
sum
ptio
n an
d ge
nera
tion
(TW
h)
Annual power consumption Annual power generation
Source: GlobalData, Power eTrack, Capacity and Generation Database [Accessed on February 28, 2014]
Renewables to Account for More than XX% of Brazil’s Generation Capacity by 2030
Brazil’s renewable power sector is expected to
grow tremendously, especially in the wind,
biomass, and solar energy segments, as a result of
government initiatives and increased private sector
participation. Wind energy development has
gained prominence in the Brazilian power market
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Table of Contents
BRAZIL POWER MARKET OUTLOOK TO 2030, UPDATE 2014 – MARKET TRENDS, REGULATIONS AND COMPETITIVE LANDSCAPE
1 Table of Contents
1 Table of Contents ....................................................................................................................... 4
1.1 List of Tables ...................................................................................................................... 7
1.2 List of Figures ..................................................................................................................... 9
2 Introduction ............................................................................................................................... 10
2.1 GlobalData Report Guidance ............................................................................................ 11
3 Brazil, Power Market, Snapshot ................................................................................................ 12
3.1 Brazil, Power Market, Macro-economic Factors ................................................................ 12
3.2 Brazil, Power Market, Supply Security .............................................................................. 14
3.3 Brazil, Power Market, Generation Infrastructure ................................................................ 15
3.4 Brazil, Power Market, Transmission Infrastructure ............................................................ 15
3.5 Brazil, Power Market, Opportunities .................................................................................. 15
3.6 Brazil, Power Market, Challenges ..................................................................................... 16
4 Brazil, Power Market, Market Analysis ...................................................................................... 17
4.1 Brazil, Power Market, Supply Structure ............................................................................. 17
4.2 Brazil, Power Market, Key Market Players ........................................................................ 17
4.2.1 Financial Performance .................................................................................................. 18
4.2.2 Key Financial Ratios and Inference ............................................................................... 19
4.3 Brazil, Power Market, Financial Deals ............................................................................... 20
4.3.1 Deal Volume and Value Analysis, 2004–2013 ............................................................... 20
4.3.2 Deals by Type, 2013 ..................................................................................................... 22
4.4 Brazil, Power Market, Demand Structure .......................................................................... 23
4.4.1 Electricity Consumption by Sector, 2013 ....................................................................... 25
5 Brazil, Power Market, Regulatory Scenario ............................................................................... 26
5.1 Brazil, Power Market, Key Electricity Policies .................................................................... 26
5.1.1 New Model Electricity Law............................................................................................. 26
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Table of Contents
BRAZIL POWER MARKET OUTLOOK TO 2030, UPDATE 2014 – MARKET TRENDS, REGULATIONS AND COMPETITIVE LANDSCAPE
5.1.2 New Electricity Market Regulations ............................................................................... 27
5.1.3 Continued Subsidy: Power Sector under Pressure ........................................................ 27
5.1.4 Renewable Energy Development .................................................................................. 28
5.1.5 The Inova Program........................................................................................................ 29
5.2 Brazil, Power Market, Foreign Investment Scenario .......................................................... 30
6 Brazil, Power Market, Capacity and Generation Overview ........................................................ 31
6.1 Brazil, Power Market, Cumulative Installed Capacity, Breakdown by Type of Power Plant, 2013 .................................................................................................................................. 31
6.2 Brazil, Power Market, Cumulative Installed Capacity and Annual Power Generation, 2000–2030 .................................................................................................................................. 32
6.2.1 Cumulative Installed Thermal Capacity and Annual Thermal Power Generation, 2000–2030 ............................................................................................................................. 35
6.2.2 Cumulative Installed Hydropower Capacity and Annual Hydropower Generation, 2000–2030 ............................................................................................................................. 40
6.2.3 Cumulative Installed Nuclear Capacity and Annual Nuclear Power Generation, 2000–2030 ............................................................................................................................. 45
6.2.4 Cumulative Installed Renewable Capacity and Annual Renewable Power Generation, 2000–2030 ................................................................................................................... 48
7 Brazil, Power Market, Transmission and Distribution Overview ................................................. 53
7.1 Brazil, Power Market, Transmission Overview .................................................................. 53
7.2 Brazil, Power Market, Distribution Overview ...................................................................... 54
7.3 Brazil, Power Market, Grid Interconnection ....................................................................... 55
7.3.1 Future Developments in International Interconnections ................................................. 56
7.3.2 Electricity Import and Export Trends, 2000–2013 .......................................................... 56
7.4 Brazil, Power Market, Electricity Trading ........................................................................... 58
8 Brazil, Power Market, Competitive Landscape: Snapshot of Top Power Generating Companies
................................................................................................................................................. 59
8.1 Key Company in the Brazil Power Market – Centrais Eletricas Brasileiras S.A. ................. 59
8.1.1 Company Overview ....................................................................................................... 59
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8.1.2 Business Description ..................................................................................................... 59
8.1.3 SWOT Overview ........................................................................................................... 60
8.2 Key Company in the Brazil Power Market – Companhia Energetica de Minas Gerais ....... 63
8.2.1 Company Overview ....................................................................................................... 63
8.2.2 Business Description ..................................................................................................... 63
8.2.3 SWOT Overview ........................................................................................................... 64
8.3 Key Company in the Brazil Power Market – Companhia Energetica de Sao Paulo ........... 68
8.3.1 Company Overview ....................................................................................................... 68
8.3.2 Business Description ..................................................................................................... 68
8.3.3 SWOT Analysis ............................................................................................................. 69
9 Appendix ................................................................................................................................... 73
9.1 Market Definitions ............................................................................................................. 73
9.1.1 Power ............................................................................................................................ 73
9.1.2 Installed Capacity .......................................................................................................... 73
9.1.3 Electricity Generation .................................................................................................... 73
9.1.4 Electricity Consumption ................................................................................................. 73
9.1.5 Thermal Power Plant ..................................................................................................... 73
9.1.6 Hydropower Plant .......................................................................................................... 73
9.1.7 Nuclear Power............................................................................................................... 73
9.1.8 Renewable Energy Resources ...................................................................................... 74
9.2 Abbreviations .................................................................................................................... 75
9.3 Bibliography ...................................................................................................................... 75
9.4 GlobalData’s Methodology ................................................................................................ 79
9.4.1 Coverage ...................................................................................................................... 79
9.4.2 Secondary Research and Analysis ................................................................................ 79
9.4.3 Primary Research and Analysis..................................................................................... 80
9.5 Disclaimer ......................................................................................................................... 81
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Table of Contents
BRAZIL POWER MARKET OUTLOOK TO 2030, UPDATE 2014 – MARKET TRENDS, REGULATIONS AND COMPETITIVE LANDSCAPE
1.1 List of Tables
Table 1: Power Market, Brazil, Gross Domestic Product ($bn), Population (million), and Annual Power
Consumption (TWh), 2000–2018 ................................................................................................. 14
Table 2: Power Market, Brazil, Market Share of Power Generation Companies (%), 2013 .............................. 18
Table 3: Power Market, Brazil, Selected Financial Ratios, Eletrobras, 2012, 2013 .......................................... 20
Table 4: Power Market, Brazil, Deal Value ($bn) and Deal Volume, 2004–2013 ............................................. 21
Table 5: Power Market, Brazil, Deals by Type (%), 2013 ................................................................................ 22
Table 6: Power Market, Brazil, Annual Power Consumption (TWh), 2000–2030 ............................................. 24
Table 7: Power Market, Brazil, Electricity Consumption by Sector (%), 2013 .................................................. 25
Table 8: Power Market, Brazil, Foreign Direct Investment ($bn), 2008–2013 .................................................. 30
Table 9: Power Market, Brazil, Cumulative Installed Capacity by Fuel Type (%), 2013 ................................... 32
Table 10: Power Market, Brazil, Cumulative Installed Capacity (GW) and Annual Power Generation (TWh),
2000–2030 .................................................................................................................................. 34
Table 11: Power Market, Brazil, Leading Active Thermal Power Plants, 2013 ................................................. 36
Table 12: Power Market, Brazil, Leading Upcoming Thermal Power Plants, 2014–2020 ................................. 37
Table 13: Power Market, Brazil, Cumulative Installed Thermal Capacity (GW) and Annual Thermal Power
Generation (TWh), 2000–2030 .................................................................................................... 39
Table 14: Power Market, Brazil, Leading Active Hydropower Plants, 2013 ..................................................... 41
Table 15: Power Market, Brazil, Leading Upcoming Hydropower Plants, 2014–2020...................................... 42
Table 16: Power Market, Brazil, Cumulative Installed Hydropower Capacity (GW) and Annual Hydropower
Generation (TWh), 2000–2030 .................................................................................................... 44
Table 17: Power Market, Brazil, Cumulative Installed Nuclear Capacity (GW) and Annual Nuclear Power
Generation (TWh), 2000–2030 .................................................................................................... 47
Table 18: Power Market, Brazil, Leading Active Renewable Power Plants, 2013 ............................................ 49
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Table of Contents
BRAZIL POWER MARKET OUTLOOK TO 2030, UPDATE 2014 – MARKET TRENDS, REGULATIONS AND COMPETITIVE LANDSCAPE
Table 19: Power Market, Brazil, Leading Upcoming Renewable Power Plants, 2014–2020 ............................ 50
Table 20: Power Market, Brazil, Cumulative Installed Renewable Capacity (GW) and Annual Renewable
Power Generation (TWh), 2000–2030 ......................................................................................... 52
Table 21: Power Market, Brazil, Transmission Line Length (Ckm), 2000–2020 ............................................... 54
Table 22: Power Market, Brazil, Distribution Line Length (Ckm), 2000–2020 .................................................. 55
Table 23: Power Market, Brazil, Annual Electricity Imports and Exports (TWh), 2000–2011 ............................ 58
Table 24: Power Market, Brazil, Centrais Eletricas Brasileiras S.A., SWOT Profile, 2013 ............................... 60
Table 25: Power Market, Brazil, Companhia Energetica De Minas Gerais, SWOT Profile, 2013 ..................... 64
Table 26: Power Market, Brazil, Companhia Energetica de Sao Paulo, SWOT Profile, 2013 .......................... 69
Table 27: Abbreviations ................................................................................................................................. 75
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Table of Contents
BRAZIL POWER MARKET OUTLOOK TO 2030, UPDATE 2014 – MARKET TRENDS, REGULATIONS AND COMPETITIVE LANDSCAPE
1.2 List of Figures
Figure 1: Power Market, Brazil, Gross Domestic Product ($bn) and Population (million), 2000–2018 .............. 12
Figure 2: Power Market, Brazil, Annual Power Consumption (TWh), 2000–2018 ............................................ 13
Figure 3: Power Market, Brazil, Market Share of Power Generation Companies (%), 2013 ............................. 18
Figure 4: Power Market, Brazil, Deal Value ($bn) and Deal Volume, 2004–2013 ............................................ 21
Figure 5: Power Market, Brazil, Deals by Type (%), 2013 ............................................................................... 22
Figure 6: Power Market, Brazil, Annual Power Consumption (TWh), 2000–2030 ............................................ 23
Figure 7: Power Market, Brazil, Electricity Consumption by Sector (%), 2013 ................................................. 25
Figure 8: Power Market, Brazil, Cumulative Installed Capacity by Fuel Type (%), 2013 .................................. 31
Figure 9: Power Market, Brazil, Cumulative Installed Capacity (GW) and Annual Power Generation (TWh),
2000–2030 .................................................................................................................................. 33
Figure 10: Power Market, Brazil, Cumulative Installed Thermal Capacity (GW) and Annual Thermal Power
Generation (TWh), 2000–2030 .................................................................................................... 38
Figure 11: Power Market, Brazil, Cumulative Installed Hydropower Capacity (GW) and Annual Hydropower
Generation (TWh), 2000–2030 .................................................................................................... 43
Figure 12: Power Market, Brazil, Cumulative Installed Nuclear Capacity (GW) and Annual Nuclear Power
Generation (TWh), 2000–2030 .................................................................................................... 46
Figure 13: Power Market, Brazil, Cumulative Installed Renewable Capacity (GW) and Annual Renewable
Power Generation (TWh), 2000–2030 ......................................................................................... 51
Figure 14: Power Market, Brazil, Annual Electricity Imports and Exports (TWh), 2000–2013 ........................ 57
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BRAZIL POWER MARKET OUTLOOK TO 2030, UPDATE 2014 – MARKET TRENDS, REGULATIONS AND COMPETITIVE LANDSCAPE
Introduction
2 Introduction
Brazil, which is a developing country with well-established agricultural, manufacturing and service
sectors, is the largest and the most populous country in South America, and one of the fastest
growing countries in the world. It has a democratic republican form of government, with a
presidential system in place, and is a founding member of the United Nations, the G20, the Latin
Union, the Organization of Ibero-American States, the Organization of American States, Mercosur,
and the Union of South American Nations.
The Brazilian economy is fairly liberal, and it attracts the largest amount of Foreign Direct
Investment (FDI) among the South American countries. The US continues to be the primary
investor in Brazil. The government is also endeavoring to strengthen existing trade relationships
with other developing nations as part of Mercosur, a trade bloc of which Argentina, Brazil,
Paraguay, Uruguay and Venezuela are members. In 2008, Mercosur entered into a free trade
agreement with Israel, before entering into another with Egypt in 2010. Brazil and China recently
reached an agreement to trade in their local currencies to the equivalent of $XX billion per year
(Flak et al., 2013).
With an estimated Gross Domestic Product (GDP) of $XX billion in 2013, Brazil registered a GDP
growth rate of XX%, in 2013, and XX% between 2000 and 2013. The country’s economy was
affected by the global economic recession in 2008, which resulted in a negative annual growth rate
of XX% for 2009. Following this, it registered a comparatively rapid rate of recovery following the
recession. A GDP growth rate of XX% was registered in 2010 (IMF, 2013).
In 2012, the services sector contributed the majority share of GDP, with an estimated XX%,
followed by the industry sector with XX% and the agricultural sector with XX% (CIA, 2013). The
total value of Brazil’s exports amounted to an estimated $XX billion in 2012 compared with $XX
billion in 2013, a reduction of XX% (MDICE, 2014). The country’s major export items include
aircraft, electrical equipment, automobiles, ethanol, textiles, footwear, iron ore, steel and coffee. Its
major export markets are China, the US and Argentina (CIA, 2013).
Economic growth and the growth of the population have led to an increase in electricity
consumption in Brazil. Annual electricity consumption increased in size at a Compound Annual
Growth Rate (CAGR) of XX% between 2000 and 2013 and is expected to grow at a CAGR of XX%
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BRAZIL POWER MARKET OUTLOOK TO 2030, UPDATE 2014 – MARKET TRENDS, REGULATIONS AND COMPETITIVE LANDSCAPE
Introduction
between 2014 and 2030. Hydropower is the source of the majority of the electricity generated in
Brazil.
The Ministry of Mines and Energy (MME) is responsible for overseeing the electricity sector in
Brazil. The Brazilian Electricity Regulatory Agency (Agência Nacional de Energia Elétrica: ANEEL)
is a regulatory authority that functions under the supervision of MME. On August 16, 2004, the
Brazilian government created the Energy Research Company (Empresa de Pesquisa Energética:
EPE), a federal public company responsible for carrying out studies and research in the strategic
energy sector. The unbundling and privatization of the electricity sector took place in 1993.
2.1 GlobalData Report Guidance
The report opens with an executive summary that captures the key growth trends in the
Brazilian power market.
Chapter three provides a snapshot of the key parameters affecting the power sector in Brazil
and key points about the Brazilian power market.
Chapter four provides a power market analysis for Brazil.
Chapter five details the regulatory scenario of the power market and the inward foreign
investment scenario in Brazil.
Chapter six provides information regarding Brazil’s cumulative installed capacity and annual
generation trends as a whole and also by individual generation source.
Chapter seven describes Brazil’s power transmission and distribution infrastructure and
includes information on interconnectors with neighboring countries. The section details
electricity imports and exports and upcoming grid-related projects.
Note: all 2013 market numbers provided in the report are estimates, except where actual data were
available.
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BRAZIL POWER MARKET OUTLOOK TO 2030, UPDATE 2014 – MARKET TRENDS, REGULATIONS AND COMPETITIVE LANDSCAPE
Brazil, Power Market, Market Analysis
4.4 Brazil, Power Market, Demand Structure
Annual electricity consumption in Brazil increased from XX TWh in 2000 to XX TWh in 2013 at a
CAGR of XX%. Between 2014 and 2030, the CAGR is expected to amount to XX%, with annual
consumption increasing from XX TWh in 2014 to XX TWh in 2030.
The increase in the rate of growth in annual consumption in the forecast period is expected to be
driven by the high usage of electrical appliances by the residential sector and the growing national
population. As a result, the government is now focusing on the expansion of its generation
capacity, particularly hydropower capacity, in order to meet increasing power demand.
Figure 6: Power Market, Brazil, Annual Power Consumption (TWh), 2000–2030
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
2026
2027
2028
2029
2030
Annu
al p
ower
con
sum
ptio
n (T
Wh)
Source: GlobalData, Power eTrack, Capacity and Generation Database [Accessed on February 26, 2014]
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BRAZIL POWER MARKET OUTLOOK TO 2030, UPDATE 2014 – MARKET TRENDS, REGULATIONS AND COMPETITIVE LANDSCAPE
Brazil, Power Market, Market Analysis
Table 6: Power Market, Brazil, Annual Power Consumption (TWh), 2000–2030
Year Annual power consumption
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
2026
2027
2028
2029
2030
Source: GlobalData, Power eTrack, Capacity and Generation Database [Accessed on February 26, 2014]
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BRAZIL POWER MARKET OUTLOOK TO 2030, UPDATE 2014 – MARKET TRENDS, REGULATIONS AND COMPETITIVE LANDSCAPE
Brazil, Power Market, Market Analysis
4.4.1 Electricity Consumption by Sector, 2013
The industrial sector was the largest power consuming sector in Brazil, accounting for an estimated
XX% share of total electricity consumption in 2013, followed by the residential sector with XX%.
Trade, commerce, and other services contributed a further XX% of the total consumption in 201,
followed by the agriculture and transport sectors with respective XX% and XX% shares. The
remaining XX% was accounted for by other sectors such as the energy sector and public utilities.
Figure 7: Power Market, Brazil, Electricity Consumption by Sector (%), 2013
Industrial
Residential
Trade, commerce, and other services
Agriculture
Transport
Other
Source: GlobalData; MME, 2013
Table 7: Power Market, Brazil, Electricity Consumption by Sector (%), 2013 Sector Electricity consumption
Industrial
Residential
Trade, commerce, and other services
Agriculture
Transport
Other
Source: GlobalData; MME, 2013
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Appendix
BRAZIL POWER MARKET OUTLOOK TO 2030, UPDATE 2014 – MARKET TRENDS, REGULATIONS AND COMPETITIVE LANDSCAPE
9 Appendix
9.1 Market Definitions
9.1.1 Power
Power refers to the rate of production, transfer or energy use, usually related to electricity. It is
measured in Watts (W) and often expressed in kilowatts (kW) or Megawatts (MW). It is also known
as real power or active power.
9.1.2 Installed Capacity
Installed capacity refers to the generator’s nameplate capacity as stated by the manufacturer, or
the maximum rated output of a generator under given conditions. It is given in Megawatts (MW) on
a nameplate affixed to the generator.
9.1.3 Electricity Generation
Electricity generation refers to the process of generating electricity from other forms of energy. It
also refers to the amount of electricity produced, expressed in Gigawatt hours (GWh).
9.1.4 Electricity Consumption
Electricity consumption is the sum of electricity generated, plus imports, minus exports and
transmission and distribution losses. It is measured in Gigawatt hours (GWh).
9.1.5 Thermal Power Plant
A thermal power plant is a plant in which turbine generators are driven by burning fossil fuels.
9.1.6 Hydropower Plant
A hydropower plant is a plant in which the turbine generators are driven by falling water.
9.1.7 Nuclear Power
Nuclear power is the energy released from the fission of nuclear fuel in a reactor.
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Appendix
BRAZIL POWER MARKET OUTLOOK TO 2030, UPDATE 2014 – MARKET TRENDS, REGULATIONS AND COMPETITIVE LANDSCAPE
9.1.8 Renewable Energy Resources
Renewable energy resources are those that provide energy that is naturally replenished but limited
in the amount of energy available per unit of time. Biomass, geothermal, solar, small hydro and
wind are examples of renewable resources.
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Appendix
BRAZIL POWER MARKET OUTLOOK TO 2030, UPDATE 2014 – MARKET TRENDS, REGULATIONS AND COMPETITIVE LANDSCAPE
9.2 Abbreviations
Table 27: Abbreviations ACL Ambiente de Contratação Regulada (Regulated Contract Environment)
ACR Ambiente de Contratação Livre (Non-regulated Contract Environment)
ANEEL Agência Nacional de Energia Elétrica (Brazilian Electricity Regulatory Agency)
BNDES Banco Nacional de Desenvolvimento Econômico e Social (National Development Bank)
BRIX Brazilian Intercontinental Exchange
CAGR Compound Annual Growth Rate
CCEE Câmara de Comercialização de Energia Elétrica (Electric Energy Commercialization Chamber)
CCGT Combined Cycle Gas Turbine
Ckm Circuit kilometer
CN Concrete
Cogen Cogeneration
EPE Empresa de Pesquisa Energética (Energy Research Company)
ER Rock Fill
FDI Foreign Direct Investment
FINEP Financiadora de Estudos e Projetos (Brazilian Innovation Agency)
G20 Group of 20
GDP Gross Domestic Product
GW Giga Watt
GWh Gigawatt hour
HVDC High Voltage Direct Current
kV kilovolt
MME Ministry of Mines and Energy
MW Megawatt
ONS Operador Nacional do Sistema Elétrico (National Grid Operator)
PG Gravity Dam
PV Photovoltaic
SIN Sistema Interconectado Nacional (National Interconnected System)
TE Earth Fill
TWh Terawatt hour
Source:
9.3 Bibliography
Biller, D and Lima, MS (2012). Brazil Suffers Fifth Power Outage Since Crackdown on Utilities.
BLOOMBERG L.P., October 26, 2012. Available from: http://www.bloomberg.com/news/2012-
Brazil Power Market Outlook to 2030, Update 2014 – Market Trends, Regulations and Competitive Landscape 76 © GlobalData. This report is a licensed product and is not to be copied, reproduced, shared or resold in any form.
Appendix
BRAZIL POWER MARKET OUTLOOK TO 2030, UPDATE 2014 – MARKET TRENDS, REGULATIONS AND COMPETITIVE LANDSCAPE
10-26/brazil-suffers-fifth-power-outage-since-crackdown-on-utilities.html [Accessed on
February 27, 2014]
BNamericas (2013). Uruguay to begin Brazil power imports next year. BNamericas, April 22,
2013. Available from: http://www.bnamericas.com/news/electricpower/uruguay-to-start-
importing-power-from-brazil-next-year [Accessed on: February 18, 2014]
BP (2013). BP Statistical Review of World Energy June 2013 [database]. British Petroleum.
Available from: http://www.bp.com/content/dam/bp/excel/Statistical-
Review/statistical_review_of_world_energy_2013_workbook.xlsx [Accessed on February 26,
2014]
Brazil Windpower. (2014). WHY MAKING PART OF BRAZIL WINDPOWER 2014? Brazil
Windpower. Available from: http://www.brazilwindpower.org/en/ [Accessed on February 26,
2014]
CIA (2013). Brazil: The World Factbook. Central Intelligence Agency. Available from:
https://www.cia.gov/library/publications/the-world-factbook/geos/br.html [Accessed on February
18, 2014]
EIA (2013a). Total Electricity Imports: Brazil [Database]. US Energy Information Administration.
Available from:
http://www.eia.gov/cfapps/ipdbproject/XMLinclude_3.cfm?tid=2&pid=2&pdid=&aid=3&cid=BR&t
itleStr=Total%20Electricity%20Imports%20(Billion%20Kilowatthours)&syid=2000&eyid=2012&f
orm=&defaultid=0&typeOfUnit=STDUNIT&unit=BKWH&products= [Accessed on February 18,
2014].
EIA (2013b). Total Electricity Exports: Brazil [Database]. US Energy Information Administration.
Available from:
http://www.eia.gov/cfapps/ipdbproject/XMLinclude_3.cfm?tid=2&pid=2&pdid=&aid=4&cid=BR&t
itleStr=Total%20Electricity%20Exports%20(Billion%20Kilowatthours)&syid=2000&eyid=2012&f
orm=&defaultid=0&typeOfUnit=STDUNIT&unit=BKWH&products= [Accessed on February 18,
2014]
Flak, A et al. (2013). BRICS members China and Brazil agreed on Tuesday to trade in their
own currencies the equivalent of up to $30 billion per year, moving to take almost half of their
trade exchanges out of the U.S. dollar zone. Thomson Reuters, March 26, 2013. Available
Brazil Power Market Outlook to 2030, Update 2014 – Market Trends, Regulations and Competitive Landscape 77 © GlobalData. This report is a licensed product and is not to be copied, reproduced, shared or resold in any form.
Appendix
BRAZIL POWER MARKET OUTLOOK TO 2030, UPDATE 2014 – MARKET TRENDS, REGULATIONS AND COMPETITIVE LANDSCAPE
from: http://in.reuters.com/article/2013/03/26/brics-summit-china-brazil-currencies-
idINDEE92P08O20130326 [Accessed on February 28, 2014]
Goy L. and Soto A. (2014). UPDATE 1-Brazil power regulator proposes rate hike; may stoke
inflation”, Thomson Reuters, February 11, 2014. Available from:
http://uk.reuters.com/article/2014/02/11/brazil-economy-energy-idUKL2N0LG1D220140211
[Accessed on: February 12, 2014].
IDB (2013). Four energy companies, the AFD, and the IDB agree to explore electricity
interconnection of Northern Arc countries. Inter-American Development Bank, March 15, 2013.
Available from: http://www.iadb.org/en/news/news-releases/2013-03-15/northern-arc-
project,10385.html [Accessed on: February 14, 2014]
IMF (2013). World Economic Outlook Database, October 2013 [database]. International
Monetary Fund. Available at:
http://www.imf.org/external/pubs/ft/weo/2013/01/weodata/download.aspx [Accessed on
February 18, 2014]
Lima MS (2013). Brazil Energy Auction Sells 2.3 Gigawatts of Wind-Power Projects.
Bloomberg L.P., December 13, 2013. Available from: http://www.bloomberg.com/news/2013-
12-13/brazil-energy-auction-sells-2-3-gigawatts-of-wind-power-projects.html [Accessed on:
February 26, 2014]
MercoPress (2014). Brazil current account deficit ended 2013 at its widest in twelve years.
MercoPress, January 28, 2014. Available from: http://en.mercopress.com/2014/01/28/brazil-
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_Ano_Base/1_-_BEN_Portugues_-_Inglxs_-_Completo.pdf
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Brazil Power Market Outlook to 2030, Update 2014 – Market Trends, Regulations and Competitive Landscape 78 © GlobalData. This report is a licensed product and is not to be copied, reproduced, shared or resold in any form.
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Brazil Power Market Outlook to 2030, Update 2014 – Market Trends, Regulations and Competitive Landscape 79 © GlobalData. This report is a licensed product and is not to be copied, reproduced, shared or resold in any form.
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9.4 GlobalData’s Methodology
GlobalData’s dedicated research and analysis teams consist of experienced professionals with
advanced statistical expertise and marketing, market research and consulting backgrounds in the
energy industry.
GlobalData adheres to the codes of practice of the Market Research Society (www.mrs.org.uk)
and Strategic and Competitive Intelligence Professionals (www.scip.org) .
All of GlobalData’s databases are continuously updated and revised. The following methodology
has been followed for the collection and analysis of data presented in this report.
9.4.1 Coverage
This report covers Brazil’s power market, examining the market structure and provides historical
and providing generation, capacity and consumption forecasts until 2030. It also looks at the
market’s regulatory structure, import and export trends, competitive landscape and leading active
and upcoming power projects.
9.4.2 Secondary Research and Analysis
The capacity, generation and consumption data is collected and validated using a number of
secondary resources including but not limited to:
Government agencies, ministerial websites, industry associations, the World Bank and
statistical databases
Company websites, annual reports, financial reports, broker reports and investor presentations
Industry trade journals, market reports and other literature
GlobalData’s proprietary databases such as the Capacity and Generation Database, Power
Plant Database and Transmission and Distribution Database
Further to this, the following secondary information is collected and analyzed to project Brazil’s
power market scenario to 2030, analyzing factors such as:
Macro-economic scenario
Government regulations, policies and targets
Government and private sector investment
Brazil Power Market Outlook to 2030, Update 2014 – Market Trends, Regulations and Competitive Landscape 80 © GlobalData. This report is a licensed product and is not to be copied, reproduced, shared or resold in any form.
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Contract and deal announcements
Utility expansion plans
The sector’s historic track record
Other qualitative insights built through secondary research and analysis of company websites,
annual reports, investor presentations, industry and trade journals, and data from industry
associations.
9.4.3 Primary Research and Analysis
Secondary research is further complemented through primary interviews with industry participants
to verify the market numbers obtained through secondary research and obtain first-hand
information on industry trends.
The participants are drawn from a diverse set of backgrounds, including equipment manufacturers,
industry associations, government bodies, utilities, distributors, and academia. The participants
include but are not limited to C-level executives, industry consultants, academic experts, business
development and sales managers, purchasing managers, plant managers, government officials
and industry spokespeople.
Brazil Power Market Outlook to 2030, Update 2014 – Market Trends, Regulations and Competitive Landscape 81 © GlobalData. This report is a licensed product and is not to be copied, reproduced, shared or resold in any form.
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9.5 Disclaimer
All Rights Reserved.
No part of this publication may be reproduced, stored in a retrieval system or transmitted in any
form by any means, electronic, mechanical, photocopying, recording or otherwise, without the prior
permission of the publisher, GlobalData.
This report is a licensed product and should not to be reproduced without prior permission.