Aneel’s proposal to adapt to the tax reform projects cuts of up to 9.25% in energy contracts signed before 2025, with implementation slated for 2027.
The National Electric Energy Agency (Aneel) is paving the way to align the power sector with the new guidelines of the Tax Reform.
A joint technical note drafted by the agency’s superintendencies suggests opening a public consultation to introduce significant price cuts in regulated generation and commercialization contracts for clean energy and conventional power, anticipating the impacts of the phase-out of federal taxes.
The adjustment in contracted values is expected to take effect starting January 1, 2027, the date when PIS/Pasep and Cofins will officially cease to exist.
The measure covers a wide range of agreements signed within the regulated environment, directly impacting the economic dynamics of various supply sources and ensuring that the fiscal transition benefits the electricity sector supply chain.
New rules and contract cut criteria
The methodology outlined by the agency establishes two distinct scenarios based on the date prices were formalized.
For agreements closed before January 16, 2025—the baseline date for Tax Reform regulations—the recommendation is to strip out the portion corresponding to the nominal rate of the extinct taxes, since these costs were embedded in the original negotiations.
Accordingly, the reduction will be 3.65% for companies under the cumulative regime and 9.25% for those under the non-cumulative regime.
On the other hand, deals signed after this threshold date will not undergo any additional decrease.
The technical justification points out that market players have already priced their assets taking the new Brazilian fiscal scenario into account.
The proposal seeks to apply a uniform criterion rather than calculating a different effective tax rate for each company, which would depend on individual tax credits and cost structures.
Impacts and next steps in the regulated market
The operationalization of these changes will be the responsibility of the Electric Energy Commercialization Chamber (CCEE) and ENBPar, in the case of assets linked to Proinfa.
The public debate phase will last for ten days, during which market participants can submit contributions to the proceeding’s rapporteur, Director Gentil Nogueira.
With the implementation of these guidelines, the renewable energy market and regulated consumers will gain tariff predictability.
The expectation is that the regulatory adaptation will provide significant financial relief, consolidating a more transparent business environment aligned with the demands of the new national tax legislation.
