Political Economy of the Brazilian Power Industry Reform, The
Adilson de Oliveira
Program on Energy and Sustainable Development Working Paper #2, page(s): 42
After a long period of rapid growth the Brazilian power industry entered a period of stagnation and crisis in the 1980s. Ever since the 1930s a series of tariff rules and nationalizations had squeezed private investors from the market. In their place, state enterprises had assumed the function of distributing electricity in Brazil's 26 states; Eletrobras, owned by the central government, managed the transmission system and also generated much of the electricity in Brazil.