On Monday, October 19, 2026, Eneva (ENEV3) released its preliminary and unaudited operating information for the third quarter of 2026 (3Q26). The company reported total gross generation of 2,548 GWh in the period, of which 2,206 GWh came from own gas-fired assets, in addition to natural gas production of 0.48 billion cubic meters (bcm) and 2P natural gas reserves of 46.1 bcm at the end of the quarter.
In the thermal segment, Eneva’s total net generation from its plants reached 2,105 GWh in 3Q26, down from 3,374 GWh in 3Q25, in a scenario of lower energy prices. The average dispatch weighted by installed capacity was 20% in the quarter, and the average availability of the Parnaíba Complex stood at 99%. The company reported that part of the generation was dispatched based on merit order, energy security, unit commitment, exports to Argentina, and compliance with contractual inflexibilities, especially at the Parnaíba II and Parnaíba VI TPPs.
3Q26 marked the start of operations at the Azulão Complex, in the state of Amazonas, with the start of commercial operation (COD) and the beginning of the 2021 CRCAP for the Azulão I TPP in August 2026, which recorded 32 GWh of net generation and a 4% dispatch rate in the quarter. New contractual cycles also began for the plants in Espírito Santo: the LORM TPP began operating under the 2021 CRCAP in July 2026, while the Viana 1, Povoação 1 and LORM 1 TPPs started regulated contracts under the 2026 CRCAP in August 2026.
In the solar portfolio, the Futura 1 Complex, with 692.4 MWac of installed capacity, posted average availability of 99% and net generation of 320 GWh in 3Q26, up 6.0% versus 3Q25. The company reported curtailed generation due to restrictions of 141 GWh in the quarter, below the 173 GWh in 3Q25, amid generation cuts ordered by the ONS due to energy oversupply and transmission grid constraints.
In upstream, natural gas production in 3Q26 was 0.42 bcm in the Parnaíba Basin and 0.06 bcm in the Amazonas Basin, supplying thermal power plants and small-scale liquefied natural gas contracts. Eneva ended the quarter with 2P natural gas reserves of 36.6 bcm in the Parnaíba Basin and 9.4 bcm in the Amazonas Basin, totaling 46.1 bcm, after deducting the production history for the first nine months of 2026.
