Reuters, 09/06/2012
Brazilian President Dilma Rousseff, concerned over the eroding competitiveness of industry and stubbornly high consumer prices, plans to announce a reduction in electricity rates and terms for the renewal of expiring power distribution licenses, newspaper reports said on Thursday.
Rousseff is expected to unveil cuts on industrial electricity rates of as much as 20 percent when she addresses the nation late on Thursday, newspaper Brasil Econômico said. Consumers are likely to get a 10 percent cut in their electricity bills, Valor Econômico reported, citing people with knowledge of the plans.
A spokeswoman at the presidential palace in Brasilia did not have an immediate comment on the reports.
