Info Report Check
Submission incomplete:
The DOE is requested to include information on how it has validated the input values to the financial calculations as per VVM v 1.2 paragraph 114 (a).
The VR (page 35) mentions that the energy price considered in the investment analysis is 146.53 R$/MW and that it is adjusted by the Inflation targeting in Brazil of 4,5%. This is inconsistent with the PDD (page 21) and the IRR calculation spreadsheet, which show that the energy price considered in investment analysis is 131.82 R$/MWh and that it is adjusted by the Amplified Costumer Price Index of 2.66%. In addressing this issue, please note that the energy price applied (i.e. 131.82 R$/MWh) is actually lower than the average of energy prices of year 2008 sourced from CCEE based on monthly prices of 134.58 R$/MWh.