June 24, 2019 / 10:09 PM / 23 days ago

Brazil approves natural gas market overhaul to bring down energy prices

BRASILIA (Reuters) - Brazil’s energy policy council on Monday approved a plan to overhaul the domestic natural gas market, with the country’s Mines and Energy Minister Bento Albuquerque saying that the move would bring down gas prices within two to three years.

Speaking alongside Albuquerque, Economy Minister Paulo Guedes offered a more bullish prediction, saying the plan would “shock” the country’s energy market and cut energy prices by 40 percent within two years.

Reporting By Mateus Maia; Writing by Jake Spring; Editing by Christian Plumb

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