CCEE restricts operations of eight trading firms amid ongoing investigations and legal proceedings.
The Electric Energy Commercialization Chamber (CCEE) has taken significant action by placing a group of eight energy trading companies under balanced operation status. The decision, communicated during a board meeting on September 1st, directly impacts these firms’ operations, preventing them from freely registering new contracts in the Accounting and Settlement System (SCL). Any new energy purchase or sale transaction will now require CCEE approval, following a detailed analysis of their energy balance to mitigate financial risks.
Among the affected companies are Thopen and four firms belonging to the Safira group. Thopen is currently undergoing judicial reorganization, with declared liabilities of R$ 4.56 billion following a court ruling in Rio de Janeiro. Meanwhile, the Safira group companies had obtained a temporary injunction suspending collections and enforcement actions for 60 days, citing a financial and economic crisis attributed to market volatility.
Three other traders—Spot, Mega, and Universal—were also included in the balanced operation. These companies have corporate or administrative ties to Fernando Robério Garcia, father of federal deputy Fábio Garcia (União-MT). Mega and Universal, along with associated investment funds, were targets of measures under Operation Heritage, which is investigating the flow of capital through funds linked to Banco Master. Consequently, their accounts were frozen in early August.
The Federal Police investigation, under Operation Heritage, seeks to uncover alleged embezzlement of public funds through complex financial structures involving various funds and shell companies. Supreme Court Justice Flávio Dino also ordered the freezing of assets and the lifting of bank and tax secrecy for Mega and Universal. Congressman Fábio Garcia has vehemently denied any involvement with the funds or companies in question.
The CCEE measure, while not detailing the specific conditions of each company in its decision summary, reflects the sector’s concern regarding market stability and financial health. The CCEE published information regarding the monitoring rules that formed the basis of the decision, but the operational and financial details of each affected agent remain under scrutiny. Spot, Universal, Mega, and Fernando Robério Garcia were contacted for comment but had not responded by the time of publication.
