Brazil revises 2022 power demand growth up

Brazil's power demand growth in 2022 is expected to be 0.3 percentage points higher than previously expected, reflecting a recovery of economic growth, according to the latest government projections.

The figures are part of the second four-month revision for the country's yearly energy plan. They point to average demand of 70,948MW for the year, from a previous prediction of 70,739MW, according to grid operator ONS, power clearing house CCEE and government energy research bureau EPE.

Previous estimates had power demand showing a 1.7pc growth for 2022 and have been readjusted to 2pc for this year over 2021.

The estimate considers an expected 1.9pc annual increase in the country's gross domestic product (GDP) this year, picking up from the agencies' previous Aprilestimate of 0.6pc growth.

The revision maintained the expected increase in demand for 2022-2026 at a 3.4pc/yr, reaching an average of 81,032MW by the end of the period when GDP growth is forecast at 2.5pc.

By Rebecca Gompertz