OREANDA-NEWS. ENEVA announces that the “15 Vara Federal” of Distrito Federal granted on January 23, an injunction to the Company's subsidiaries Pecem I (CE) and Itaqui (MA) halting unavailability charges measured on an hourly basis, effective immediately. Charges are paid with a two month delay and the next payment due would refer to December, 2013.

On January 7, Pecem I and Itaqui filed lawsuits against Brazilian Electricity Regulatory Agency (ANEEL) questioning the penalties being charged on an hourly basis.

“This decision reflects the positive interim result of an important regulatory claim that ENEVA has been discussing with the responsible institutions. Our plants are playing a prominent role in the operation of the Brazilian electrical system, and it is essential that their availability rates be calculated according to the terms of the agreements signed”, states Eduardo Karrer, ENEVA CEO.

The Company understands that the power purchase agreements (PPAs) provide for using the 60-month rolling average availability.

ENEVA does business in the power generation and trading sector and owns supplementary natural gas exploration and production businesses. Currently ENEVA has 2.4 GW gross installed capacity in operation and 524 MW more are now in construction, being thus among the largest private sector power generation companies in Brazil. ENEVA also owns stakes in onshore natural gas blocks in the Parnaiba Basin that are integrated to company own power generation plants, with an average contracted production of up to 8.4 million cubic meters per day.