Energisa (ENGI3) reported this Tuesday, July 14, 2026, that the Brazilian Electricity Regulatory Agency (Aneel) approved the 2026 periodic rate review of distributor Energisa Sul Sudeste – Distribuidora de Energia S.A. (ESS), to be applied as of July 12, 2026, with an average impact of 9.63% for consumers.
According to the announcement, the adjustment approved by Aneel is 9.99% for consumers connected to high and medium voltage and 9.49% for low-voltage consumers. In the rate review process, carried out every five years, the agency recalculates the regulatory manageable costs of the distributor (Parcela B), the non-manageable costs (Parcela A), which include purchased energy, transmission and sector charges, as well as financial adjustments of Parcela A updated by the price variation of the previous 12 months.
The Regulatory Asset Base of ESS was set at R$ 2,943,336.50 thousand on a gross basis and R$ 2,253,189.44 thousand on a net basis. Aneel also set the components of the so-called X Factor, with productivity gains (Pd) of 0.531%, trajectory of operating cost adaptation (T) of 2.257% and quality component (Q) of 0.073%.
Regarding regulatory losses, the limits established were 5.55% for technical loss on injected energy, 0.72% for non-technical loss on injected energy, total loss of 6.27% on injected energy and 1.32% for non-technical losses in the low-voltage market. The required revenue resulting from the review, the sum of Parcela A with adjusted Parcela B, was reported at R$ 2,919,125.35 thousand.
Among the main components of Parcela A are sector charges of R$ 713,197.87 thousand, energy transmission of R$ 503,975.96 thousand, purchased energy of R$ 823,064.27 thousand and uncollectible revenues of R$ 17,268.88 thousand, totaling R$ 2,057,506.98 thousand. In Parcela B (VPB), highlights include operating costs of R$ 387,601.50 thousand, return on capital of R$ 289,459.60 thousand, regulatory depreciation quota of R$ 123,325.80 thousand and annual cost of movable and immovable installations (CAIMI) of R$ 66,466.27 thousand, resulting in Parcela B of R$ 866,853.17 thousand before adjustments and R$ 861,618.36 thousand after applying productivity and quality factors.
