Photo: Mines and Energy Minister Eduardo Braga speaking at the seminar that discusses sustainable development and the energy sector expansion

Mines and Energy Minister Eduardo Braga defended on Thursday (Oct. 1) the free market for the energy sector in order to allow consumers to buy electric power directly from generators or retailers, through freely negotiated bilateral contracts.

Braga announced—at the opening of a seminar on sustainable development—the government's intention to auction 30% of the energy generated by hydroelectric that did not have their contracts extended. The auction is scheduled for November and expects to collect $4.28 billion in revenues.

The minister of mines and energy pointed out that the government is committed to solving the energy problems that had arisen from the country's drought. In his view, executives have to face the challenge of producing and selling energy to meet the needs of the sector.