Natural Gas
T&B Petroleum/Press Office
The ANP Board of Directors approved yesterday (Nov 6) an Action Plan to define the methodologies and parameters to be applied to natural gas transportation tariffs for the period between 2026 and 2030 (the so-called 2026–2030 Regulatory Cycle).
Between August 25 and October 8, 2025, ANP held Public Consultation No. 8/2025, which allowed public feedback on tariff proposals submitted by five transporters. Under Brazil’s New Gas Law, natural gas transportation tariffs are proposed by the transporters and approved by ANP after public consultation, following criteria previously established by the Agency.
However, based on the feedback received during the consultation and ANP’s internal technical analyses, the Agency concluded that further assessment and broader discussion were necessary on specific items within the tariff proposals, as well as the preparation of ANP’s own proposals for certain tariff components.
Accordingly, ANP’s Board of Directors approved an Action Plan divided into three phases, aimed at approving the methodologies and parameters for defining the Maximum Allowed Revenue (RMP) and the transporters’ tariff proposals for the 2026–2030 Regulatory Cycle. The phased approach is intended to ensure a more detailed and logically sequenced analysis of these elements.
The phases are as follows:
Phase 1: Definition of the rate of return, scheduled for completion in December 2025;
Phase 2: Valuation of the Regulatory Asset Base (BRA), scheduled for completion in February 2026;
Phase 3: Definition of the Maximum Allowed Revenue (RMP) and the tariff proposals for the 2026–2030 Regulatory Cycle, scheduled for completion in May 2026.
The rate of return refers to the financial return transporters obtain on the capital invested in their assets (in this case, gas transportation pipelines).
The Regulatory Asset Base (BRA) represents the set of assets directly related to natural gas transportation activities, and its valuation involves determining the applicable methodology to establish the recoverable value through transportation tariffs.
The Maximum Allowed Revenue (RMP), in turn, is the maximum revenue a transporter may receive for natural gas transportation services, as determined by ANP based on costs and expenses, remuneration of investments in assets and facilities, and the depreciation and amortization of the corresponding BRA.
Given that the regulatory process for approving the RMP and tariff proposals will not be completed by January 1, 2026, ANP’s Board also approved the use of extraordinary contracts by transporters until the Agency finalizes and approves the Maximum Allowed Revenue and tariff proposals for the 2026–2030 Regulatory Cycle.
Extraordinary contracts are instruments provided for in transporters’ master contracts to be used in cases where delays in completing the annual capacity offering and contracting process prevent the execution of standard annual products.
Through extraordinary contracts, transporters may offer available capacity following the short-term capacity offering and contracting process. These contracts are subject to a clause stipulating that their validity ends upon the conclusion of the annual POCC (Capacity Offering and Contracting Process).
The Board also approved the launch of a 15-day public consultation on the methodology and criteria for defining the rate of return applicable during the 2026–2030 Regulatory Cycle — corresponding to Phase 1 of the Action Plan.
ANP is proposing to update the methodology currently in use since 2019, in order to ensure that transporters — acting as efficient service providers — achieve an adequate return on the capital invested, represented by the Regulatory Asset Base.
The proposed updates are intended to enhance the previous methodology, reflecting the evolution of international regulatory best practices and the transformations in the Brazilian capital market in recent years.
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