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Minister Lobao, in a press conference on Wednesday ruled out the possibility of a shortage: “There is not, has not been and hopefully will not be in the future any shortage.”
With rain currently falling in most parts of Brazil, the Minister said, “the trend is that the reservoir level will improve.”
The Minister told Brazilians that the country had energy storage to “meet all our needs”.
President Dilma Rousseff has earlier rejected, what she called, “ridiculous rumours” about energy rationing in Brazil.
It was also announced that there would be a 20 per cent reduction in energy tariffs.
Brazil generates the majority of its power through hydroelectricity.
The Government is looking at trying to lessen the impact of high costs of generating power on electricity bills of consumers.
The President of the National System Operator (ONS), Hermes Chipp was quoted by Brazil’s O Estada saying that the National Agency of Electrical Energy (ANEEL) will study new ways to apportion increasing costs incurred in recent months.
These costs have traditionally been passed onto the consumer.
According to Lobao, there will be no shortage of gas to industries due to the thermal power plants.
With inputs from Agencies