Longer term, that could be the case, but hydro will remain the 800 pound gorilla for the foreseeable future.
The emergency meeting was convened to address how to deal with the generation shortfall caused by the drought (62% decrease YOY). One proposal to avoid rationing is to re-open the Usaminas thermo-plant, but that will cause generation costs to spike. The big question is who will absorb the costs: the government, the electrical industry, or consumers. My guess is the government and producers.