Insight
Brazil’s capacity auction debut: Surprises and question marks
Report summary
On 21 December, Brazil’s Chamber of Electric Energy Commercialization (CCEE) held the country’s first capacity auction. After an unsuccessful first phase (energy contracts), the capacity phase awarded 15-year contracts to 17 power plants, totaling 5,126 MW of capacity. The CCEE awarded an average price of R$824,554/MW-year, 15% lower than the cap price. This price level enabled four greenfield projects: three gas/LNG-fired projects totaling 1.9 GW and an 80 MW biomass project. The auction also awarded seven fuel oil/distillate-fired projects, totaling 879 MW, that violated auction rules but could participate based on judicial orders.
Table of contents
- After analyzing the auction results, our main findingsinclude:
Tables and charts
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