Brazil's Aneel Grants AES Eletropaulo Rate Hike

Brazil's power sector regulator Aneel on Tuesday granted a 15.23 percent rate rise to Eletropaulo Metropolitana Eletricidade de Sao Paulo SA, a power distribution company controlled by AES Corp, for the next four years.

Aneel conducts a re-evaluation of pricing for power distribution companies every four years, adjusting for items such as rates of return. Prior to the announcement, Eletropaulo had requested Aneel to validate an increase of around 15 percent in rates.

(Reporting by Marcelo Teixeira)