Insight
Brazil’s capacity auction debut: Surprises and question marks
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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:
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What's included
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