Risk responsibility for supply in the Brazilian energy market

The purpose of this paper is to contribute to the discussion on the supply problems faced in Latin America electricity markets over recent years, and how markets and regulations have worked in relation to allocating the responsibility for supply. It presents some remarks on causes and consequences of the recent rationing in the Brazilian power system. The paper also review the actions that were undertaken and issues that are under review to reduce the likelihood shortages future as well as to attribute responsibilities.