LatinNews Daily - 11 October 2022

*The Operador Nacional do Sistema Elétrico (ONS), Brazil’s national energy grid operator, has announced it is rolling out a new mechanism to allow Brazil to export its excess energy to Argentina and Uruguay. Through this initiative, Brazil will be able to negotiate, on a daily basis, the sale of energy from hydroelectric power plants that are operating at the top of their capacity because their reservoirs have excess water. Until now, this excess energy was not being monetised. ONS expects that, in the long run, the new energy trading mechanism will result in more investments for the improvement of Brazil’s energy systems and lower tariffs for the country’s consumers. “This trading energy model will generate positive results for Brazil and our neighbours,” said ONS’s director general Luiz Carlos Ciocchi.

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