Brazil’s federal audit court (TCU) has increased the price ceiling for the upcoming Belo Monte hydro auction to 83 reais/MWh from 68 reais/MWh, a spokesperson for the country’s national utility sector Aneel told BNamericas.

The auditing body also revised investment calculations for the 11.3GW Belo Monte hydro plant, increasing the estimated cost to 19bn reais (US$10.7bn) from the 16bn reais released by the mines and energy ministry last year.

Federal energy planning company EPE has said costs could reach 20bn reais.

The Belo Monte hydro plant will be built on the Xingu river in the Amazonian state of Pará. It is the main project of Brazil’s federal infrastructure program known as PAC.

The auction for the hydro plant is expected to take place on April 20, according to Brazil’s mines and energy ministry.

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