Concessionaire Norte Energia reported a third-quarter loss, impacted by a drop in Belo Monte’s generation amid an adverse hydrological scenario and severe climate effects in the Xingu region.
Norte Energia, responsible for operating the Belo Monte Hydroelectric Power Plant in Pará, faced significant operational challenges in the third quarter of 2026. The company recorded a net loss of R$ 293.8 million for the period, representing an 18% improvement compared to the negative figures recorded during the same interval in 2025. Performance was directly impacted by a 7% drop in the plant’s power production.
Reduced water volume in the Xingu River, combined with the intensified effects of the El Niño climate phenomenon, limited the complex’s generation capacity. From July to September, gross generation averaged 532 average MW, down from 572 average MW recorded the previous year, with inflows reaching only 75% of the Long-Term Average (LTA).
Operational adaptation and resource management
To address the water scarcity and comply with guidelines from the Ministry of Mines and Energy (MME) and the Power Sector Monitoring Committee (CMSE), the company implemented contingency measures. In August, a gradual reduction of the flow sent to the intermediate reservoir was initiated, while maintaining the flow allocated to the Volta Grande do Xingu.
The operator emphasizes that this exceptional maneuver is part of the 2026 Electric Energy Strategic Agenda, designed to optimize available water resources in light of the severe weather conditions facing the country’s Northern region.
Revenue and financial resilience
Despite generation obstacles, Norte Energia managed to increase its net operating revenue by 10%, reaching R$ 1.6 billion. This result was driven by a sharp 57% rise in revenue from the Free Contracting Environment (ACL), fueled by higher sales prices, alongside contract adjustments in the Regulated Contracting Environment (ACR).
The company’s Ebitda also delivered positive performance, growing 11% to reach R$ 839.1 million. Concurrently, financial discipline efforts led to a 1.56% reduction in net debt, which totaled R$ 26.02 billion. This deleveraging movement is attributed to the ongoing amortization of contractual commitments and the absence of new credit issuances in the market.
The future outlook remains contingent on rainfall patterns and the stabilization of the hydrological regime in the Xingu basin. While navigating climate challenges, the concessionaire maintains its focus on social and environmental investments, which accounted for most of the R$ 69.6 million invested during the quarter, marking a 36% increase in contributions over the first nine months of 2026. The strategy now shifts toward balancing operational efficiency with strict management of costs and transmission charges.