Brazil has begun adapting the economic rules of the electricity sector to the new tax reform. The National Electric Energy Agency (ANEEL) has approved the opening of a public consultation that includes adjustments to both regulated generation and marketing contracts and the remuneration bases for concessionaires.
The change responds to the progressive elimination of PIS/PASEP and COFINS and their replacement by the Contribution on Goods and Services (CBS) and the Tax on Goods and Services (IBS).
The goal is to prevent the tax modification from generating non-existent costs for consumers, double recognition for companies, or economic imbalances in concessions .
One of the key aspects of the proposal directly affects regulated energy generation and marketing contracts.
ANEEL proposes to eliminate from the contractual prices the portion corresponding to PIS/PASEP and COFINS when those values have been defined before January 16, 2025 , the date of publication of Complementary Law No. 214.
For those contracts, the regulator considers that the bidders could not yet incorporate the new tax scheme into their commercial proposals.
However, contracts whose prices were set after that date would not be subject to the adjustment, under the criterion that the sellers were already aware of the future tax modification.
The proposal includes a discount of 3.65% for companies under the cumulative regime and 9.25% for those under the non-cumulative regime , while in mixed situations a weighted average would be used.
According to reporting director Gentil Nogueira, maintaining the previous values intact after the disappearance of PIS/COFINS could pass on costs to consumers that no longer exist and generate asymmetries in the market.
The adjustment would also not require the signing of individual annexes, since ANEEL considers that the rebalancing derives directly from the new legislation.
The practical implementation would be divided between the Chamber of Electric Energy Marketing (CCEE), ENBPar, distributors, concessionaires and ANEEL itself .
The same proposal also covers the remuneration of concessionaires
The other aspect of the consultation focuses on the Regulatory Remuneration Bases of distribution and transmission companies.
Since the assets acquired before the reform generated PIS/COFINS tax credits, ANEEL proposes creating a temporary negative financial component in the rates to project and deduct those values and avoid double recognition.
The treatment of additional income for distributors, such as that from the rental of poles , will also be reviewed so that the calculation is carried out on a net tax basis.
In terms of transmission, the proposal suggests creating a specific Adjustment Part on authorized revenues.
With this single regulatory process, ANEEL seeks to simultaneously adapt contracts, rates and remuneration to the new tax scheme without affecting the economic-financial balance of the concessions or passing on undue costs to the consumer.
Those interested may submit contributions between October 21 and 30, 2026 .
The challenge now will be to move a contractual and tariff structure built under PIS/COFINS to a regime based on CBS and IBS without artificially altering agents' revenues or tariff affordability.