Electricity prices in Brazil will fall from April.
That’s because the country will close some of its thermoelectric plants, according to Energy Minster Eduardo Braga.
A total of 22 stations of this kind with a total capacity of 5000MW will shut down next month as cheaper sources of power generation including hydro come back online.
The new measure will allow regulators to get rid of a tax that was established so consumers could help bear the cost of operating these plants.
According to Mr Braga, with the new announcement the electricity industry in the country will save up to $2 billion per year (£1.3bn).