Brazil Power Auction Fails
Published December 6th, 2007
An auction of five-year electricity- supply contracts by Brazil’s government failed today after the lone company enrolled to sell power failed to make an offer.
Cia. Energetica de Sao Paulo, Brazil’s third-biggest power generator, didn’t offer to sell electricity that the government agreed to buy at auction on behalf of 30 distributors, said Eliane Santos, an outside spokeswoman for Brazil’s Electric Energy Commercialization Chamber.
The government planned to buy contracts for supply starting in January.
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