ANEEL approves the results of the 2nd and 3rd capacity reserve auctions in the form of power (LRCAP 2026)

At an extraordinary public meeting held on May 21, 2026, the Board of Directors of the Brazilian Electricity Regulatory Agency (ANEEL) ratified the results of the 2nd and 3rd Capacity Reserve Auctions in the form of Power (LRCAP 2026), held in March of this year and aimed at contracting power capacity to enhance the security of the national electricity supply. In this initial phase, ANEEL ratified the projects scheduled to commence operations in 2026, with the ratification of the remaining products — covering deliveries scheduled through 2031 — still pending.

Results of the 2nd LRCAP

Held on March 18, 2026, the 2nd LRCAP contracted 18.97 GW of power capacity from hydropower plants and thermoelectric plants fueled by natural gas and coal, with total estimated investments of BRL 64.5 billion and deliveries scheduled between 2026 and 2031. The auction reached an average discount of 5.52%, generating estimated savings of BRL 33.64 billion.

Results of the 3rd LRCAP

Held on March 20, 2026, the 3rd LRCAP contracted 501.321 MW of power capacity from plants fueled by fuel oil, diesel, and biodiesel, under three-year contracts with deliveries scheduled between 2026 and 2030. The average discount reached 50.14%, resulting in estimated savings of BRL 1.83 billion.

Contract execution and implementation

The publication of the ratification in the Federal Official Gazette triggers the 25-day period for contract execution by the Electric Energy Commercialization Chamber (CCEE), with contractual effectiveness scheduled to commence in August 2026. The ratification of projects with deliveries between 2027 and 2031 is expected to occur in a subsequent stage, in accordance with the auction’s procedural schedule.

The Energy and Natural Resources team at CMA remains available to provide further clarification on this matter.