GDPE0782ICR- Brazil Power Market Outlook Sample 1,2,4-10 ... · BRAZIL POWER MARKET OUTLOOK TO 2025, UPDATE 2015 – MARKET TRENDS, REGULATIONS, AND COMPETITIVE LANDSCAPE Executive

REFERENCE CODE GDPE0782ICR | PUBLICATION DATE MAY 2015

BRAZIL POWER MARKET OUTLOOK TO 2025, UPDATE 2015 – MARKET TRENDS, REGULATIONS,

AND COMPETITIVE LANDSCAPE

Brazil Power Market Outlook to 2025, Update 2015 – Market Trends, Regulations, and Competitive Landscape 2 © GlobalData. This report is a licensed product and is not to be copied, reproduced, shared or resold in any form.

BRAZIL POWER MARKET OUTLOOK TO 2025, UPDATE 2015 – MARKET TRENDS, REGULATIONS, AND COMPETITIVE LANDSCAPE

Executive Summary

Brazil’s Power Market Outlook

Brazil’s economy is one of the fastest growing in

the world, and well-placed services, manufacturing,

and agricultural sectors mean that it is the largest

in South America. It has steadily stabilized its

economy since the early 2000s, with Gross

Domestic Product (GDP) growing from $XX billion

in 2000 to $XX billion in 2014 at a Compound

Annual Growth Rate (CAGR) of XX%. This has

driven power consumption in the country, which

also increased at a CAGR of XX% during the same

period, from XX Terawatt hours (TWh) in the same

period.

Power Market, Brazil, Gross Domestic Product ($bn) and Annual Power Consumption (TWh), 2000–2019

2000

2001

2002

2003

2004

2005

2006

2007

2008

2009

2010

2011

2012

2013

2014

Ann

ual p

ower

con

sum

ptio

n (T

Wh)

GD

P ($

bn)

GDP (constant prices) Annual power consumption Source: GlobalData; IMF, 2014

The increase in electricity consumption was a

result of growth of the economy and the

population. Annual electricity generation also

increased during this period, from XX TWh in 2000

to XX TWh in 2014, at a CAGR of XX%.

Power Market, Brazil, Annual Power Consumption and Generation (TWh), 2000–2014

2000 2007 2014

Annu

al p

ower

con

sum

ptio

n an

d ge

nera

tion

(TW

h)

Annual power consumption Annual power generation Source: GlobalData, Power Database [Accessed on April 28, 2015]

Brazil derives the majority of its power

requirements from hydropower, making use of its

most abundantly available natural resource. In

2014, XX% of Brazil’s total installed capacity was

derived from hydropower. Thermal power from gas

was the second largest source of power, with a

XX% share in 2014, followed by biomass with XX%

and thermal oil power with XX%. Other

technologies, such as onshore wind, thermal

power from coal, nuclear power, biogas, and solar

Photovoltaic (PV) contributed the remaining XX%

of total installed capacity in 2014.


Table of Contents


1 Table of Contents

1 Table of Contents ....................................................................................................................... 4

1.1 List of Tables ...................................................................................................................... 7

1.2 List of Figures ..................................................................................................................... 8

2 Introduction ................................................................................................................................. 9

2.1 GlobalData Report Guidance ............................................................................................ 10

3 Brazil, Power Market, Snapshot ................................................................................................ 11

3.1 Brazil, Power Market, Macro-economic Factors ................................................................ 11

3.2 Brazil, Power Market, Supply Security .............................................................................. 14

3.3 Brazil, Power Market, Opportunities .................................................................................. 14

3.4 Brazil, Power Market, Challenges ..................................................................................... 14

4 Brazil, Power Market, Market Analysis ...................................................................................... 16

4.1 Brazil, Power Market, Supply Structure ............................................................................. 16

4.2 Brazil, Power Market, Key Market Players ........................................................................ 16

4.3 Brazil, Power Market, Financial Deals ............................................................................... 17

4.3.1 Deal Volume and Value Analysis, 2004–March 2015 .................................................... 17

4.3.2 Deals by Type, 2014 ..................................................................................................... 19

4.4 Brazil, Power Market, Demand Structure .......................................................................... 20

4.4.1 Power Consumption by Sector, 2014 ............................................................................ 21

5 Brazil, Power Market, Regulatory Scenario ............................................................................... 23

5.1 Brazil, Power Market, Key Electricity Policies .................................................................... 23

5.1.1 New Model Electricity Law............................................................................................. 23

5.1.2 New Electricity Market Regulations ............................................................................... 24

5.1.3 Continued Subsidy: Power Sector under Pressure ........................................................ 24

5.1.4 Renewable Energy Development .................................................................................. 25

5.1.5 The Inova Program........................................................................................................ 26

6 Brazil, Power Market, Capacity and Generation Overview ........................................................ 28


Table of Contents


6.1 Brazil, Power Market, Cumulative Installed Capacity by Fuel Type, 2014 ......................... 28

6.2 Brazil, Power Market, Cumulative Installed Capacity and Annual Power Generation, 2000–2025 .................................................................................................................................. 29

6.2.1 Cumulative Installed Thermal Capacity and Annual Thermal Power Generation, 2000–2025 ............................................................................................................................. 32

6.2.2 Cumulative Installed Hydropower Capacity and Annual Hydropower Generation, 2000–2025 ............................................................................................................................. 36

6.2.3 Cumulative Installed Nuclear Capacity and Annual Nuclear Power Generation, 2000–2025 ............................................................................................................................. 39

6.2.4 Cumulative Installed Renewable Capacity and Annual Renewable Power Generation, 2000–2025 ................................................................................................................... 42

7 Brazil, Power Market, Transmission and Distribution Overview ................................................. 46

7.1 Brazil, Power Market, Transmission Overview .................................................................. 46

7.2 Brazil, Power Market, Distribution Overview ...................................................................... 47

7.3 Brazil, Power Market, Grid Interconnection ....................................................................... 48

7.3.1 Future Developments in International Interconnections ................................................. 49

7.3.2 Electricity Import and Export Trends, 2000–2014 .......................................................... 49

7.4 Brazil, Power Market, Electricity Trading ........................................................................... 51

8 Brazil, Power Market, Competitive Landscape: Snapshot of Top Power Generating Companies ................................................................................................................................................. 52

8.1 Key Company in the Brazil Power Market – Centrais Eletricas Brasileiras S.A. ................. 52

8.1.1 Company Overview ....................................................................................................... 52

8.1.2 Business Description ..................................................................................................... 52

8.1.3 SWOT Overview ........................................................................................................... 53

8.2 Key Company in the Brazil Power Market – Companhia Energetica de Minas Gerais ....... 57



8.2.3 SWOT Overview ........................................................................................................... 57

8.3 Key Company in the Brazil Power Market – Companhia Energetica de Sao Paulo ........... 62


Table of Contents




8.3.3 SWOT Analysis ............................................................................................................. 63

9 Appendix................................................................................................................................... 67

9.1 Market Definitions ............................................................................................................. 67

9.1.1 Power ............................................................................................................................ 67

9.1.2 Installed Capacity .......................................................................................................... 67

9.1.3 Electricity Generation .................................................................................................... 67

9.1.4 Electricity Consumption ................................................................................................. 67

9.1.5 Thermal Power Plant ..................................................................................................... 67

9.1.6 Hydropower Plant .......................................................................................................... 67

9.1.7 Nuclear Power............................................................................................................... 67

9.1.8 Renewable Energy Resources ...................................................................................... 68

9.2 Abbreviations .................................................................................................................... 68

9.3 Bibliography ...................................................................................................................... 69

9.4 GlobalData’s Methodology ................................................................................................ 70

9.4.1 Coverage ...................................................................................................................... 71

9.4.2 Secondary Research and Analysis ................................................................................ 71

9.4.3 Primary Research and Analysis..................................................................................... 72

9.5 Disclaimer ......................................................................................................................... 72


Table of Contents


1.1 List of Tables

Table 1: Power Market, Brazil, Gross Domestic Product ($bn), Population (million), and Annual Power

Consumption (TWh), 2000–2019 ................................................................................................. 13

Table 2: Power Market, Brazil, Market Share of Power Generation Companies (%), 2014 ......................... 17

Table 3: Power Market, Brazil, Deal Value ($bn) and Deal Volume, 2004–March 2015 .............................. 18

Table 4: Power Market, Brazil, Deals by Type (%), 2014 ........................................................................... 19

Table 5: Power Market, Brazil, Annual Power Consumption (TWh), 2000–2025 ........................................ 21

Table 6: Power Market, Brazil, Power Consumption by Sector (%), 2014 .................................................. 22

Table 7: Power Market, Brazil, Cumulative Installed Capacity by Fuel Type (%), 2014 ............................... 28

Table 8: Power Market, Brazil, Cumulative Installed Capacity (GW) and Annual Power Generation (TWh),

2000–2025 .................................................................................................................................. 31

Table 9: Power Market, Brazil, Leading Thermal Power Plants, 2015 ........................................................ 33

Table 10: Power Market, Brazil, Cumulative Installed Thermal Capacity (GW) and Annual Thermal Power

Generation (TWh), 2000–2025 .................................................................................................... 35

Table 11: Power Market, Brazil, Leading Hydropower Plants, 2015 ............................................................. 37

Table 12: Power Market, Brazil, Cumulative Installed Hydropower Capacity (GW) and Annual Hydropower

Generation (TWh), 2000–2025 .................................................................................................... 39

Table 13: Power Market, Brazil, Cumulative Installed Nuclear Capacity (GW) and Annual Nuclear Power

Generation (TWh), 2000–2025 .................................................................................................... 41

Table 14: Power Market, Brazil, Leading Renewable Power Projects, 2015 ................................................. 43

Table 15: Power Market, Brazil, Cumulative Installed Renewable Capacity (GW) and Annual Renewable

Power Generation (TWh), 2000–2025 ......................................................................................... 45

Table 16: Power Market, Brazil, Transmission Line Length (Ckm), 2000–2020 ............................................ 47

Table 17: Power Market, Brazil, Distribution Line Length (Ckm), 2000–2020 ............................................... 48

Table 18: Power Market, Brazil, Annual Electricity Imports and Exports (TWh), 2000–2014 ......................... 51

Table 19: Power Market, Brazil, Centrais Eletricas Brasileiras S.A., SWOT Profile, 2014 ............................. 54


Table of Contents


Table 20: Power Market, Brazil, Companhia Energetica De Minas Gerais, SWOT Profile, 2014 .................. 58

Table 21: Power Market, Brazil, Companhia Energetica de Sao Paulo, SWOT Profile, 2014 ....................... 63

Table 22: Abbreviations .............................................................................................................................. 68

1.2 List of Figures

Figure 1: Power Market, Brazil, Gross Domestic Product ($bn), Population (million), and Annual Power

Consumption (TWh), 2000–2019 ................................................................................................. 12

Figure 2: Power Market, Brazil, Market Share of Power Generation Companies (%), 2014 ......................... 17

Figure 3: Power Market, Brazil, Deal Value ($bn) and Deal Volume, 2004–March 2015 .............................. 18

Figure 4: Power Market, Brazil, Deals by Type (%), 2014 ........................................................................... 19

Figure 5: Power Market, Brazil, Annual Power Consumption (TWh), 2000–2025 ........................................ 20

Figure 6: Power Market, Brazil, Power Consumption by Sector (%), 2014 .................................................. 22

Figure 7: Power Market, Brazil, Cumulative Installed Capacity by Fuel Type (%), 2014 ............................... 28

Figure 8: Power Market, Brazil, Cumulative Installed Capacity (GW) and Annual Power Generation (TWh),

2000–2025 .................................................................................................................................. 30

Figure 9: Power Market, Brazil, Cumulative Installed Thermal Capacity (GW) and Annual Thermal Power

Generation (TWh), 2000–2025 .................................................................................................... 34

Figure 10: Power Market, Brazil, Cumulative Installed Hydropower Capacity (GW) and Annual Hydropower

Generation (TWh), 2000–2025 .................................................................................................... 38

Figure 11: Power Market, Brazil, Cumulative Installed Nuclear Capacity (GW) and Annual Nuclear Power

Generation (TWh), 2000–2025 .................................................................................................... 40

Figure 12: Power Market, Brazil, Cumulative Installed Renewable Capacity (GW) and Annual Renewable

Power Generation (TWh), 2000–2025 ......................................................................................... 44

Figure 13: Power Market, Brazil, Annual Electricity Imports and Exports (TWh), 2000–2014 ......................... 50



Introduction

2 Introduction

Brazil, which is a developing country with well-established agricultural, manufacturing and service

sectors, is the largest and the most populous country in South America, and one of the fastest

growing countries in the world. It has a democratic republican form of government, with a

presidential system in place, and is a founding member of the United Nations, the G20, the Latin

Union, the Organization of Ibero-American States, the Organization of American States, Mercosur,

and the Union of South American Nations.

The Brazilian economy is fairly liberal, and attracts the largest amount of Foreign Direct Investment

(FDI) among the South American countries. The US is the primary investor in Brazil, but the

government is endeavoring to strengthen existing trade relationships with other developing nations

as part of Mercosur, a trade bloc of which Brazil, Argentina, Paraguay, Uruguay and Venezuela are

members. In 2008, Mercosur entered into a free trade agreement with Israel, before entering into

another with Egypt in 2010. Additionally, Brazil and China reached an agreement to trade in their

local currencies to the equivalent of $XX billion per year in 2013 (Flak et al., 2013).

With an estimated Gross Domestic Product (GDP) (at constant prices) of $XX billion in 2013, Brazil

registered a GDP growth rate of XX%, in 2014, and XX% between 2000 and 2014. The country’s

economy was affected by the global economic recession in 2008, which resulted in a negative

annual growth rate of XX% for 2009. However, it registered a comparatively rapid rate of recovery

following the recession; a GDP growth rate of XX% was registered in 2010 (IMF, 2014).

In 2014, the services sector contributed the majority share of GDP, with an estimated XX%,

followed by the industry sector with XX% and the agricultural sector with XX%. The total value of

Brazil’s exports amounted to an estimated $242.7 billion in 2014, compared with $XX billion in

2013, an increase of XX%. The country’s major export items include aircraft, electrical equipment,

automobiles, ethanol, textiles, footwear, iron ore, steel and coffee. Its major export markets are

China, the US and Argentina (CIA, 2014).

Economic and population growth have led to an increase in electricity consumption in Brazil.

Annual electricity consumption increased at a Compound Annual Growth Rate (CAGR) of XX%

between 2000 and 2014, and is expected to grow at a CAGR of XX% between 2015 and 2025.

Hydropower is the source of the majority of the electricity generated in Brazil.



Introduction

The Ministry of Mines and Energy (MME) is responsible for overseeing the electricity sector in

Brazil. The Brazilian Electricity Regulatory Agency (Agência Nacional de Energia Elétrica,

ANEEL) is a regulatory authority that functions under the supervision of MME. On August 16, 2004,

the Brazilian government created the Energy Research Company (Empresa de Pesquisa

Energética, EPE), a federal public company responsible for carrying out studies and research in

the strategic energy sector. The unbundling and privatization of the electricity sector took place in

1993.

2.1 GlobalData Report Guidance

The report opens with an executive summary that captures the key growth trends in the

Brazilian power market.

Chapter three provides a snapshot of the key parameters affecting the power sector in Brazil

and key points about the Brazilian power market.

Chapter four provides a power market analysis for Brazil.

Chapter five details the regulatory scenario of the power market and the inward foreign

investment scenario in Brazil.

Chapter six provides information regarding Brazil’s cumulative installed capacity and annual

generation trends, both as a whole and also by individual generation source.

Chapter seven describes Brazil’s power transmission and distribution infrastructure and

includes information on interconnectors with neighboring countries. The section also details

electricity imports and exports and upcoming grid-related projects.

Note: all 2014 market numbers provided in the report are estimates, except where actual data were

available.



Market Analysis

4.3.2 Deals by Type, 2014

Debt offerings were the preferred means of raising finance in 2014, and this type of financing

accounted for XX% of the total deal value for this year, followed by asset transaction deals with

XX%, acquisition deals with XX%, and equity offerings with XX%. There were also five partnership

deals completed, which were of an undisclosed value.

Figure 4: Power Market, Brazil, Deals by Type (%), 2014

Debt offerings

Asset transactions

Acquisition

Equity offerings

Source: GlobalData, Power Database [Accessed on April 27, 2015]

Table 4: Power Market, Brazil, Deals by Type (%), 2014 Deal type Share

Debt offerings

Asset transactions

Acquisition

Equity offerings




Capacity and Generation Overview

6.2 Brazil, Power Market, Cumulative Installed Capacity and Annual Power Generation, 2000–2025

Brazil’s cumulative installed capacity increased from XX GW in 2000 to XX GW in 2014 at a CAGR

of XX%. This can be attributed to the growth witnessed in the renewable, thermal and hydropower

sectors between 2000 and 2014.

During the forecast period from 2015 to 2025, Brazil’s cumulative installed capacity is expected to

grow at a CAGR of XX% to XX GW. Although hydropower sources are expected to contribute the

majority of Brazil’s total installed capacity, the relative share held by these sources is expected to

have declined to XX% by 2025, from the present share of XX%. This will be caused by increases in

the contributions made by renewable energy, particularly wind plants. From 2015 to 2025,

renewable power sources are expected to grow at a CAGR of XX%.

The total amount of electricity generated in Brazil in 2014 amounted to an estimated XX TWh. Of

this total, hydropower accounted for XX%, or XX TWh. Thermal power made the second highest

contribution, accounting for a relatively low share of XX%, or XX TWh. Renewable and nuclear

energy sources contributed respective totals of XX% or XX TWh, and XX% or XX TWh.

Between 2015 and 2025, Brazil’s total electricity generation is expected to increase at a CAGR of

XX% to reach XX TWh. The share of hydropower generation is expected to decline to XX%, while

the share of renewable power is expected to increase to reach XX%.




Figure 8: Power Market, Brazil, Cumulative Installed Capacity (GW) and Annual Power Generation (TWh), 2000–2025

2000

2001

2002

2003

2004

2005

2006

2007

2008

2009

2010

2011

2012

2013

2014

2015

2016

2017

2018

2019

2020

2021

2022

2023

2024

2025

Ann

ual p

ower

gen

erat

ion

(TW

h)

Cum

ulat

ive

inst

alle

d ca

paci

ty (G

W)

Cumulative installed capacity Annual power generation Source: GlobalData, Power Database [Accessed on April 27, 2015]




Table 8: Power Market, Brazil, Cumulative Installed Capacity (GW) and Annual Power Generation (TWh), 2000–2025

Year Cumulative installed capacity Annual power generation

2000

2001

2002

2003

2004

2005

2006

2007

2008

2009

2010

2011

2012

2013

2014

2015

2016

2017

2018

2019

2020

2021

2022

2023

2024

2025



Appendix


9 Appendix

9.1 Market Definitions

9.1.1 Power

Power refers to the rate of production, transfer or energy use, usually related to electricity. It is

measured in Watts (W) and often expressed in kilowatts (kW) or Megawatts (MW). It is also known

as real power or active power.

9.1.2 Installed Capacity

Installed capacity refers to the generator’s nameplate capacity as stated by the manufacturer, or

the maximum rated output of a generator under given conditions. It is given in Megawatts (MW) on

a nameplate affixed to the generator.

9.1.3 Electricity Generation

Electricity generation refers to the process of generating electricity from other forms of energy. It

also refers to the amount of electricity produced, expressed in Gigawatt hours (GWh).

9.1.4 Electricity Consumption

Electricity consumption is the sum of electricity generated, plus imports, minus exports and

transmission and distribution losses. It is measured in Gigawatt hours (GWh).

9.1.5 Thermal Power Plant

A thermal power plant is a plant in which turbine generators are driven by burning fossil fuels.

9.1.6 Hydropower Plant

A hydropower plant is a plant in which the turbine generators are driven by falling water.

9.1.7 Nuclear Power

Nuclear power is the energy released from the fission of nuclear fuel in a reactor.


Appendix


9.1.8 Renewable Energy Resources

Renewable energy resources are those that provide energy that is naturally replenished but limited

in the amount of energy available per unit of time. Biomass, geothermal, solar, small hydro and

wind are examples of renewable resources.

9.2 Abbreviations

Table 22: Abbreviations ACL Ambiente de Contratação Regulada (Regulated Contract Environment)

ACR Ambiente de Contratação Livre (Non-regulated Contract Environment)

ANEEL Agência Nacional de Energia Elétrica (Brazilian Electricity Regulatory Agency)

BNDES Banco Nacional de Desenvolvimento Econômico e Social (National Development Bank)

BRIX Brazilian Intercontinental Exchange

CAGR Compound Annual Growth Rate

CCEE Câmara de Comercialização de Energia Elétrica (Electric Energy Commercialization Chamber)

CCGT Combined Cycle Gas Turbine

Ckm Circuit kilometer

EPE Empresa de Pesquisa Energética (Energy Research Company)

FDI Foreign Direct Investment

FINEP Financiadora de Estudos e Projetos (Brazilian Innovation Agency)

GDP Gross Domestic Product

GW Gigawatt

GWh Gigawatt hour

HVDC High Voltage Direct Current

kV kilovolt

MME Ministry of Mines and Energy

MW Megawatt

ONS Operador Nacional do Sistema Elétrico (National Grid Operator)

PV Photovoltaic

SIN Sistema Interconectado Nacional (National Interconnected System)

TWh Terawatt hour

Source: GlobalData


Appendix


9.3 Bibliography

Biller D and Lima MS (2012). Brazil Suffers Fifth Power Outage Since Crackdown on Utilities.

BLOOMBERG. Available from: http://www.bloomberg.com/news/2012-10-26/brazil-suffers-fifth-

power-outage-since-crackdown-on-utilities.html [Accessed on April 27, 2015]

BNamericas (2013). Uruguay to begin Brazil power imports next year. BNamericas. Available

from: http://www.bnamericas.com/news/electricpower/uruguay-to-start-importing-power-from-

brazil-next-year [Accessed on April 28, 2015]

BP (2014). BP Statistical Review of World Energy June 2014 [database]. British Petroleum.

Available from: http://www.bp.com/content/dam/bp/excel/Energy-Economics/statistical-review-

2014/BP-Statistical_Review_of_world_energy_2014_workbook.xlsx [Accessed on April 27,

2015]

Brazil Windpower (2014). Why Making Part of Brazil Windpower 2014? Brazil Windpower.

Available from: http://www.brazilwindpower.org/en/ [Accessed on April 26, 2015]

CIA (2014). Brazil: The World Factbook. Central Intelligence Agency. Available from:

https://www.cia.gov/library/publications/the-world-factbook/geos/br.html [Accessed on April 28,

2015]

Flak A et al. (2013). BRICS members China and Brazil agreed on Tuesday to trade in their own

currencies the equivalent of up to $30 billion per year, moving to take almost half of their trade

exchanges out of the U.S. dollar zone. Thomson Reuters. Available from:

http://in.reuters.com/article/2013/03/26/brics-summit-china-brazil-currencies-

idINDEE92P08O20130326 [Accessed on April 28, 2015]

Goy L and Soto A (2014). UPDATE 1-Brazil power regulator proposes rate hike; may stoke

inflation. Thomson Reuters. Available from: http://uk.reuters.com/article/2014/02/11/brazil-

economy-energy-idUKL2N0LG1D220140211 [Accessed on April 28, 2015]

IDB (2013). Four energy companies, the AFD, and the IDB agree to explore electricity

interconnection of Northern Arc countries. Inter-American Development Bank, March 15, 2013.

Available from: http://www.iadb.org/en/news/news-releases/2013-03-15/northern-arc-

project,10385.html [Accessed on April 28, 2015]


Appendix


IMF (2014). World Economic Outlook Database, October 2014 [database]. International

Monetary Fund. Available at:

http://www.imf.org/external/pubs/ft/weo/2014/02/weodata/index.aspx [Accessed on April 28,

2015]

Jiménez R et al. (2014). Sizing Electricity Losses in Transmission and Distribution Systems in

Latin America and the Caribbean. Inter-American Development Bank. Available from:

http://www10.iadb.org/intal/intalcdi/PE/2014/14933.pdf

Lima MS (2013). Brazil Energy Auction Sells 2.3 Gigawatts of Wind-Power Projects.

Bloomberg. Available from: http://www.bloomberg.com/news/2013-12-13/brazil-energy-auction-

sells-2-3-gigawatts-of-wind-power-projects.html [Accessed on April 26, 2015]

Norton Rose Fulbright (2013). The Inova Energia Program – Promoting Energy Efficiency and

Renewable Energy in Brazil. Norton Rose Fulbright. Available from:

http://www.nortonrosefulbright.com/knowledge/publications/98881/the-inova-energia-program-

promoting-energy-efficiency-and-renewable-energy-in-brazil [Accessed on April 26, 2015]

Orihuela R (2013). Brazil's Cheaper Electricity Comes at a Cost. Bloomberg. Available from:

http://www.businessweek.com/articles/2013-02-07/brazils-cheaper-electricity-comes-at-a-cost

[Accessed on April 27, 2015]

Soto A (2014). Update 1 – Brazil spending on power generation may stretch budget. Thomson

Reuters. Available from: http://www.reuters.com/article/2014/02/07/brazil-economy-power-

idUSL2N0LC1CV20140207 [Accessed on April 27, 2015]

9.4 GlobalData’s Methodology

GlobalData’s dedicated research and analysis teams consist of experienced professionals with

advanced statistical expertise and marketing, market research and consulting backgrounds in the

energy industry.

GlobalData adheres to the codes of practice of the Market Research Society (www.mrs.org.uk) and

Strategic and Competitive Intelligence Professionals (www.scip.org).

All of GlobalData’s databases are continuously updated and revised. The following methodology

has been followed for the collection and analysis of data presented in this report.


Appendix


9.4.1 Coverage

This report covers Brazil’s power market, examining the market structure and providing historical

generation, capacity and consumption forecasts until 2025. It also looks at the market’s regulatory

structure, import and export trends, competitive landscape and leading active and upcoming power

projects.

9.4.2 Secondary Research and Analysis

The capacity, generation and consumption data is collected and validated using a number of

secondary resources including but not limited to:

Government agencies, ministry websites, industry associations, the World Bank, IMF, and

statistical databases

Company websites, annual reports, financial reports, analyst reports and investor

presentations

Industry trade journals, market reports and other literature

GlobalData’s proprietary databases such as the Capacity and Generation Database, Power

Plant Database and Transmission and Distribution Database

Further to this, the following secondary information is collected and analyzed to project Brazil’s

power market scenario to 2025, analyzing factors such as:

Macro-economic scenario

Government regulations, policies and targets

Government and private sector investment

Contract and deal announcements

Utility expansion plans

The sector’s historical track record

Other qualitative insights built through secondary research and analysis of company websites,

annual reports, investor presentations, industry and trade journals, and data from industry

associations


Appendix


9.4.3 Primary Research and Analysis

Secondary research is further complemented through primary interviews with industry participants

to verify the market numbers obtained through secondary research and obtain first-hand

information on industry trends.

The participants are drawn from a diverse set of backgrounds, including power producers,

equipment manufacturers, industry associations, government bodies, utilities, distributors, and

academia. The participants include but are not limited to C-level executives, industry consultants,

academic experts, business development and sales managers, purchasing managers, plant

managers, government officials and industry spokespersons.

9.5 Disclaimer

All Rights Reserved.

No part of this publication may be reproduced, stored in a retrieval system or transmitted in any

form by any means, electronic, mechanical, photocopying, recording or otherwise, without the prior

permission of the publisher, GlobalData.

This report is a licensed product and should not to be reproduced without prior permission.

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GDPE0782ICR- Brazil Power Market Outlook Sample 1,2,4-10 ... · BRAZIL POWER MARKET OUTLOOK TO 2025, UPDATE 2015 – MARKET TRENDS, REGULATIONS, AND COMPETITIVE LANDSCAPE Executive