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Mar. 20, 2013, 10:43 AMCia. Energetica de Minas Gerais (CIG -12.2%) and shares of other Brazilian utilities are under pressure on expectations for Brazil's regulator to curb electricity rate increases Cemig had planned to put in place in April. Shares also were downgraded yesterday at Standpoint Research. Also: ELP -3.7%, CPL -3.4%, EBR -2.4%. | 1 Comment
Nov. 30, 2012, 8:11 AMElectrobras (EBR) +22.2% premarket after Brazil's government offers an additional 9.87B reais ($4.7B) to utilities that accept Pres. Rousseff’s plan to renew electricity license with lower rates, on top of 20.04B reais announced Nov. 1. EBR preferred shares lead the Bovespa index, up 28%. ELP +4.1%, CIG +2.6%, CPL +1.2% premarket. | Comment!
Sep. 12, 2012, 3:10 PMShares of Brazilian electric utilities plunge a day after the country announced a major cut in electricity taxes that will lower energy costs for industries and consumers. UBS says the “stock-price declines on regulatory noise seem exaggerated,” presenting buying opportunities. CIG -20.8%, ELP -8.9%, EBR -7.9%, CPL -3.7%. | 3 Comments
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