Brazil power regulator rejects $275 mln Eletropaulo appeal

Reuters

BRASILIA, Aug 12 (Reuters) - Brazil power regulator Aneel rejected an appeal from electricity distributor AES Corp's Brazil unit Eletropaulo Metropolitana SA on Tuesday, maintaining an order to return 626 million reais ($274.6 million) to customers.

The payment was ordered to compensate for what Aneel sees as an improper accounting for 246 kilometers of cable investments, which impacted the size of a previous government-controlled tariff adjustment.

($1 = 2.28 Brazilian reais) (Reporting by Leonardo Goy; Writing by Asher Levine; Editing by David Gregorio)

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