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Brazil to announce bigger-than-expected power rate cuts -source
January 23, 2013 / 3:36 PM / 5 years ago

Brazil to announce bigger-than-expected power rate cuts -source

SAO PAULO, Jan 23 (Reuters) - Brazilian President Dilma Rousseff will announce bigger-than-expected reductions in electricity rates as early as Wednesday, a government source with direct knowledge of the plans told Reuters.

The government plans to cut household power rates by 18.5 percent on average and those for industrial consumers by between 32 and 34 percent, said the source, who declined to be quoted because the plans remain private. The National Treasury will earmark more than 8 billion reais ($3.92 billion) to ensure the rate reductions, above an initial estimate of 3.3 billion reais, the source added.

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