Large energy consumers complain that program does not benefit them

The Brazilian Association of Large Industrial Consumers of Energy
(“Abrace”) emitted a note following the announcement of the government’s
program to assist the industrial sector lamenting that the measures
providing economic incentives did not deal directly with the cost of
energy.

According to Paulo Pedrosa, president of Abrace, Brazilian industrial
competitivity depends on a reduction in the costs of electricity and
natural gas.

With regard to the government’s stimulus package for the industrial
sector, he complained: “We see no sign of cost reduction. Not for
electricity, for gas or for the tax burden on them.”

“Measures reducing those costs would translate into an immediate higher
level of competitivity in the Brazilian industrial sector,” concluded
the president of Abrace.