Brazil Congress Approves Rousseff’s Plan to Reduce Energy Price

Brazil’s Congress concluded voting yesterday on a decree that offers an early renewal of power license contracts in exchange of a reduction in energy prices. President Dilma Rousseff’s administration will offer as much as 30 billion reais ($ 14.4 billion) in compensation to utilities companies that have agreed to renew contracts expiring in 2015-2017 under lower tariffs. The government seeks...