June 23, 2020 / 4:41 PM / 13 days ago

Brazil's energy regulator approves $3 bln emergency aid for power companies

SAO PAULO, June 23 (Reuters) - Brazil’s energy sector regulator Aneel on Tuesday approved a 16 billion reais ($3.10 billion) bailout package for power distribution companies.

Brazil’s largest distribution companies such as Italy’s Enel SpA and State Grid Corporation of China, which owns CPFL Energia SA, as well as local firms Energisa SA and Equatorial Energia SA have been demanding relief for a drop in demand and higher consumer delinquency rates due to the coronavirus pandemic.

$1 = 5.1530 reais Reporting by Luciano Costa, writing by Carolina Mandl Editing by Chizu Nomiyama

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