Investor Presentaiton
Regulated Revenues
HPP Volta Grande
RAG
Length
enel
RBO
+
GAG Improvements
+
GAG O&M
+
Regulatory Fees
+
Ajl
30 years
Tariff
Indexation
Counterparty
Strategy
Minimum Generation
Penalties and bonus
•
•
☐
The auction provide signing a contract for SERVICE of Operation and Maintenance of the assets, with a fixed revenue (RAG):
RBO Return for the Bonus Payment*
=
GAG Improvements = related to CAPEX for maintenance
GAG O&M = related to OPEX for operating the asset
Regulatory Fee = some duties due to regulation will be reimbursed
☐
Ajl = yearly adjustment based on performance
*
A parcel of RBO is not considered in the EBITDA as it is regarded as restitution of a loan given by the concessionaire to the Government
IPCA
Discos through CCEE (camara de liquidacion)
30% of the Firm Energy will be sold in the Free Market: competitiveness can be increased depend on the Trading Strategy.
Performance is measured comparing PLANT AVAILABILITY during the year vs. Reference Values of:
Planned stops for usual maintenance
Forced stops due to unexpected events
Penalties and bonus (Ajl) are applied only on the GAG parcel;
☐
The annual Equipment Availability will be compared to the Reference Values defined for a each asset and the penalties or
bonus will be applied on the GAG revenues: advantage for competitor with High Performance Efficiency.
Maximum penalty in 4 first years: 10% i.e. worst case will be 2.3% of revenues
From the 5th year and on, no limits (bonus and onus)
CO
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