Electricity

Government signs decree exempting the Covid Account credit operation in electricity from IOF

T&B Petroleum/Press Office MME
28/05/2020 21:39
Visualizações: 1423 (0) (0) (0) (0)

Today, May 28, President Jair Bolsonaro signed Decree 10,377 that exempts from the Tax on Financial Operations (IOF) the credit operation of CONTA COVID, regulated by Decree No. 10,350 of May 18, 2020. The measure will allow the reduction the financial costs of the loan benefiting electricity consumers across the country.

 

Institucional

 

CONTA-COVID's credit operation will be structured in the form of a syndicated loan - coordinated by the National Bank for Economic and Social Development (BNDES) and with the participation of public and private banks - guaranteed by tariff assets in accordance with the Provisional Measure 950, of April 8, 2020. The IOF exemption, now authorized by the Government, aims to further reduce the financial costs of the operation, in contrast to normal market costs.

 

With today's Decree, the Government is taking another step towards solving the problems experienced by distributors in the electricity sector, by guaranteeing access to the financial resources necessary to compensate for the loss of temporary revenue resulting from the pandemic; protect the rest of the industry chain so that companies continue to honor their contracts; the final consumer, for saving him from tariff increases in the context of a global crisis, from a reduction in his payment capacity and family budgets; with the lowest possible cost for all Brazilians.

Most Read Today
see see
Sustainability
Foresea earns Social Seal and reports significant result...
11/07/25
Results
Oil and Gas Sector Leads Dividend Distribution in 2024 w...
10/07/25
Natural Gas
Comgás Receives 41 Proposals in Public Call for Natural ...
10/07/25
People
Lucas Mota de Lima Appointed Executive Manager of ABPIP
10/07/25
Biomethane
Presidente Prudente (SP) Begins R$12 Million Biomethane ...
10/07/25
E&P
Hitachi Energy to evaluate electrification of offshore p...
10/07/25
Digitalization
TGS and Equinor Collaborate to Drive Digital Transformat...
10/07/25
People
Julia Cruz Appointed as New Secretary of Green Economy, ...
03/07/25
Sustainability
ABB among TIME’s World’s Most Sustainable Companies
03/07/25
Biofuels
Brazil Can Lead the Decarbonization of International Tra...
03/07/25
Pre-Salt
Oil States signs contracts to supply rigid jumpers for S...
03/07/25
Electric Energy
SMEs: Seven Tips for Joining the Free Energy Market
03/07/25
Energy Transition
CCEE Highlights Leadership in Energy Transition at EVEX ...
03/07/25
Award
WPC Energy Announces Vicki Hollub as Recipient of the Pr...
01/07/25
ANP
Final Results of the PRH-ANP 2025 Announced
01/07/25
Wind Energy
New Provisional Measure Will Not Be Enough to Counter Ha...
30/06/25
International
Oil discovery in the Johan Castberg area in the Barents Sea
30/06/25
Fuels
Gasoline Drops Just 0.78% in June Despite Petrobras' 5.6...
30/06/25
Event
Brazil Advances Energy Transition with E30 and B15, Rein...
30/06/25
People
Patricia Pradal Appointed as New President of Chevron So...
30/06/25
Results
ANP Releases Consolidated Data for the Regulated Sector ...
30/06/25
VEJA MAIS
Newsletter TN

Contact us

We use cookies to ensure you have the best experience on our website. If you continue to use this site, we will assume that you agree with our Privacy Policy, terms of use and cookies.