Revisão tarifária periódica e o equilíbrio econômico-financeiro das distribuidoras de energia elétrica

Abstract

Objetivo - O objetivo desta pesquisa é tratar da relação do equilíbrio econômico-financeiro das distribuidoras de energia elétrica no setor brasileiro com o modelo aplicado pela Agência Nacional de Energia Elétrica (ANEEL) nas revisões tarifarias periódicas. No processo de revisão tarifária, a Agência Nacional de Energia Elétrica (ANEEL) define a nova tarifa para o próximo ciclo tarifário, definido no contrato de concessão da distribuidora. Ou seja, o processo de Revisão Tarifária Periódica tem como principal objetivo analisar, após um período previamente definido no contrato de concessão, o equilíbrio econômico-financeiro da distribuidora, e será esta tarifa que irá gerar caixa para os próximos investimentos a serem efetuados mantendo a qualidade do serviço prestado ao consumidor. Sendo assim, o estudo verificará se as regras tarifárias recompõem o equilíbrio econômico-financeiro das distribuidoras, atendendo o objetivo de sua criação. Metodologia - Utilização da metodologia do estudo de eventos onde analisa a existência ou não de um determinado evento que possa afetar o valor da saúde financeira da empresa. Resultados - O estudo verificou o quanto é importante o processo de revisão tarifária periódica para a saúde financeira das distribuidoras de energia elétrica, uma vez que o resultado deste processo possui um efeito direto da receita líquida e na geração de caixa operacional das mesmas. Limitações - Este estudo não irá questionar as regras tarifárias definidas pela Agência Nacional de Energia Elétrica (ANEEL), através do seu poder discricionário. O objetivo deste estudo é verificar se as regras tarifárias em exercício possibilitam a recomposição do equilíbrio econômico-financeiro das distribuidoras. Aplicabilidade do trabalho- Reforçar a importância e a responsabilidade do órgão regulador no equilíbrio econômico-financeiro das distribuidoras de energia elétrica. Contribuições para a sociedade – Demonstrar o trabalho do órgão regulador para manter tarifas justas ao consumidor e as distribuidoras de energia. Originalidade: Existem outros trabalhos que tratam desde assunto, porém para períodos e abordagens diferentes

Purpose - The objective of this research is to deal with the relationship between the economic and financial balance of electricity distributors in the Brazilian sector and the model applied by National Agency of Electric Energy (ANEEL) in the periodic tariff reviews. In the tariff review process, National Agency of Electric Energy (ANEEL) defines the new tariffs for the next tariff cycle, defined in the distributor's concession agreement. That is, the Periodic Tariff Review process has as its main objective to analyze, within a period previously defined in the concession agreement, the distributor's economic-financial balance, and it will be this tariff that will generate liquidity for the next investments to be made in the company’s infrastructure maintaining the quality of customer service. Thus, the study will verify if the tariff rules recompose (reimbursement of past investments) the economic-financial balance of the distributors, of the distributors for the next cycle meeting the objective of their creation. Methodology – The methodology used in this study of events. Analyzes the existence or not of a certain event that may affect the financial health value of the company. Results - The study verifies how important is the Periodic Tariff Review Process for the financial health of the electricity distributors, since the result of this process has a direct effect on their net revenue and their operating cash generation. Limitations - This study will not question the tariff rules defined by National Agency of Electric Energy (ANEEL) through its discretionary power. The objective of this study is to verify if the current tariff rules allow the recomposition of the distributors economic and financial balance. Practical implications - Reinforce the importance and responsibility of the regulator in the economic and financial balance of the electricity distribution companies. Social implications - Demonstrate the work of the regulator to maintain fair rates for consumers and energy distributors. Originality - There are other works that deal with this subject, but for different periods and approaches.

Purpose - The objective of this research is to deal with the relationship between the economic and financial balance of electricity distributors in the Brazilian sector and the model applied by National Agency of Electric Energy (ANEEL) in the periodic tariff reviews. In the tariff review process, National Agency of Electric Energy (ANEEL) defines the new tariffs for the next tariff cycle, defined in the distributor's concession agreement. That is, the Periodic Tariff Review process has as its main objective to analyze, within a period previously defined in the concession agreement, the distributor's economic-financial balance, and it will be this tariff that will generate liquidity for the next investments to be made in the company’s infrastructure maintaining the quality of customer service. Thus, the study will verify if the tariff rules recompose (reimbursement of past investments) the economic-financial balance of the distributors, of the distributors for the next cycle meeting the objective of their creation. Methodology – The methodology used in this study of events. Analyzes the existence or not of a certain event that may affect the financial health value of the company. Results - The study verifies how important is the Periodic Tariff Review Process for the financial health of the electricity distributors, since the result of this process has a direct effect on their net revenue and their operating cash generation. Limitations - This study will not question the tariff rules defined by National Agency of Electric Energy (ANEEL) through its discretionary power. The objective of this study is to verify if the current tariff rules allow the recomposition of the distributors economic and financial balance. Practical implications - Reinforce the importance and responsibility of the regulator in the economic and financial balance of the electricity distribution companies. Social implications - Demonstrate the work of the regulator to maintain fair rates for consumers and energy distributors. Originality - There are other works that deal with this subject, but for different periods and approaches.