Brazil rejects proposal for power rate adjustments-source

SAO PAULO, March 13 Thu Mar 13, 2014 3:49pm EDT

SAO PAULO, March 13 (Reuters) - The Brazilian government has scrapped a proposal to allow for monthly adjustments of electricity rates depending on output levels, an official of the private sector said on Thursday.

President Dilma Rousseff's government is expected to announce on Thursday a plan to compensate distributors for the skyrocketing prices they pay for power due to a severe drought that has curbed hydroelectric output.

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