The Minister of Mines and Energy, Alexandre Silveira, said this Monday (27) that the privatization model of Eletrobras was unfair and considers that the new corporation format does not meet the minimum of strategic security. Silveira stressed, however, that the new legal nature of the company is consolidated, but that the government has the right to bring the matter to court.
“I think that whoever owns 40% of the shares cannot have one director in nine. So it is a model of corporation that, in my opinion, did not meet the minimum level of strategic security for the Brazilian people”, he said at the Arko Conference 2023 event, organized by the political analysis company Arko Advice.
“I can say that, in my view, in the models of corporations that I know, both in Brazil and in the world, it was an unfair model. Our golden share [ação preferencial que permanece com o governo após a privatização] it’s shameful. She is absolutely useless. It does not provide any stability, any security to this large strategic energy sector,” said Silveira.
The minister, however, reaffirmed that the privatization of the company is consolidated, that it has gone through the formalities of the sale process.
“To be clear, I understand that this [a privatização] it is a fact, it is consolidated, it passed through the National Congress, it became a law. And therefore, as Minister of Mines and Energy, I have to treat Eletrobras recognizing that it is a company that, despite the shortcomings that I have as a citizen, its privatization, is a company that was privatized”, he said.
The minister stressed, however, that it is a government decision to challenge the privatization process in court. “For me, it’s not that the page is turned. Discussions can ensue,” he said. “Whether judicialization or not depends on a government decision. And the judicialization, the result of this judicialization, nobody can foresee”.
Eletrobras owns about 50% of the country’s power transmission and approximately 36% of national generation.
