The Electric Energy Commercialization Chamber - CCEE announces that, as informed by the National Electric Energy Agency - ANEEL, of the 53 distribution concessionaires operating in Brazil, 50 have formalized the application to join the COVID Account and will receive the financial resources provided for by the measure .

At the end of the process, the financing volume was R $ 14.8 billion, considering the amounts requested by each of the companies within the limits stipulated by the regulatory agency. “The value represents almost 92% of the total initially calculated to serve all distributors, which reinforces the market's confidence that this is the most viable solution to mitigate the impacts already caused by the pandemic of the new coronavirus to the financial health of the regulated market. ”, Points out Rui Altieri, chairman of the Board of Directors of CCEE.

As next steps, the Commercialization Chamber will await ANEEL's order that approves the global value of the operation and the draft contracts by the financial institutions involved in the initiative, as well as its subsequent signature. Then, it will be able to register the contractual instruments and, after the disbursement is released, it intends to start the transfers to the distributors by the end of July.

Last week, CCEE had already received the selection of 19 financial institutions that, led by the National Bank for Economic and Social Development - BNDES, will be able to offer resources for the loan.

The COVID Account 

Through Decree 10.350 / 20, the Federal Government established the creation of the so-called COVID account to receive funds from a financial operation that aims to mitigate the cash problems experienced by distribution companies in the midst of the new coronavirus pandemic. The amounts, which will be managed by CCEE, will help offset the drop in revenues and anticipate the distributors' revenues, impacted by the reduction in energy consumption during the period.

For the consumer, the measure allows for a postponement and payment in up to five years of tariff impacts that, otherwise, would be felt immediately. The solution has as premises both the financial balance of the sector and the attributes of low tariffs.