{"id":5243,"date":"2023-07-28T13:04:22","date_gmt":"2023-07-28T16:04:22","guid":{"rendered":"https:\/\/artica.capital\/clairfield-pilulas\/os-mas-da-energia-como-que-as-mudancas-regulatorias-vem-impulsionado-o-setor\/"},"modified":"2026-09-29T12:01:37","modified_gmt":"2026-09-29T15:01:37","slug":"os-mas-da-energia-como-que-as-mudancas-regulatorias-vem-impulsionado-o-setor","status":"publish","type":"pilulas","link":"https:\/\/artica.capital\/en\/clairfield-pilulas\/os-mas-da-energia-como-que-as-mudancas-regulatorias-vem-impulsionado-o-setor\/","title":{"rendered":"Energy M&amp;As: How have regulatory changes been driving the sector?"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">O Ambiente de Contrata\u00e7\u00e3o Livre (ACL), popularmente conhecido como mercado livre de energia, possibilita que seus consumidores tenham a liberdade de negociar suas pr\u00f3prias condi\u00e7\u00f5es de compra de energia el\u00e9trica, estabelecendo contatos diretos com geradores e comercializadoras. Com isso, o cliente final pode escolher de quem comprar a energia, deixando de ser obrigat\u00f3ria a compra da distribuidora local (CPFL, Enel, Light, etc). Essa autonomia traz consigo um enorme potencial para alcan\u00e7ar significativas economias financeiras.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Mostrando a import\u00e2ncia para o pa\u00eds, esse ambiente representou 36% do total de energia consumida e gerou mais de R$ 40 bilh\u00f5es em economia para os consumidores em 2022.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Na p\u00edlula de hoje, falaremos sobre as mudan\u00e7as regulat\u00f3rias que t\u00eam impulsionado esse mercado, al\u00e9m de apresentarmos transa\u00e7\u00f5es recentes que buscam aproveitar os avan\u00e7os do setor.<\/p>\n\n\n\n<!-- pilula-html v1 -->\n<style>\n.pil{--navy:#2d3a51;--blue:#4f6388;--light:#8599b9;--pale:#e8ebf1;--card:#d3d9e3;--red:#c0272d;--txt:#333;font-family:\"Merriweather Sans\",sans-serif;color:var(--txt);margin-top:40px}\n.pil *{box-sizing:border-box}\n.pil img{max-width:100%;height:auto;display:block}\n.pil-sec{margin:0 0 56px}\n.pil-sec h2{background:var(--navy);color:#fff;font-size:19px;line-height:1.35;font-weight:700;padding:16px 20px;border-radius:0 0 28px 0;margin:0 0 20px;text-wrap:balance}\n.pil-sub{font-size:14px;font-weight:700;color:var(--navy);border-bottom:2px solid var(--navy);padding-bottom:6px;margin:0 0 16px;display:flex;justify-content:space-between;gap:12px;align-items:flex-end}\n.pil-tag{color:var(--red);border-top:2px solid var(--red);border-bottom:2px solid var(--red);font-size:12px;padding:2px 8px;white-space:nowrap}\n.pil-unit{font-size:12px;font-style:italic;color:#999;font-weight:700}\n.pil-src{font-size:11px;color:#777;margin-top:14px;line-height:1.5}\n.pil-p{font-size:14px;line-height:1.6;margin:0 0 12px}\n.pil-note{display:flex;gap:12px;align-items:center;background:var(--pale);border:1.5px dashed var(--navy);border-radius:10px;padding:12px 16px;font-size:14px;line-height:1.55;margin-top:18px}\n.pil-note::before{content:\"\";flex:none;width:26px;height:26px;border-radius:50%;background:var(--navy) url(\"data:image\/svg+xml,%3Csvg xmlns='http:\/\/www.w3.org\/2000\/svg' viewBox='0 0 24 24' fill='none' stroke='white' stroke-width='1.8' stroke-linecap='round'%3E%3Cpath d='M9 18h6M10 21h4M12 3a6 6 0 0 0-3.5 10.9c.6.5 1 1.2 1 2.1h5c0-.9.4-1.6 1-2.1A6 6 0 0 0 12 3z'\/%3E%3C\/svg%3E\") center\/16px no-repeat}\n.pil-note.solid{border-style:solid;background:#fff;box-shadow:0 2px 6px rgba(0,0,0,.12)}\n.pil-note.solid::before{display:none}\n.pil-grid2{display:grid;grid-template-columns:1fr 1fr;gap:24px}\n.pil-grid2.wide-left{grid-template-columns:1.75fr 1fr}\n.pil-grid2.wide-right{grid-template-columns:1fr 1.75fr}\n.pil-grid3{display:grid;grid-template-columns:repeat(3,1fr);gap:20px}\n.pil-grid4{display:grid;grid-template-columns:repeat(4,1fr);gap:16px}\n.pil-grid5{display:grid;grid-template-columns:repeat(5,1fr);gap:12px}\n.pil-grid2>*,.pil-grid3>*,.pil-grid4>*,.pil-grid5>*{min-width:0}\n.pil-legend{font-size:12px;display:flex;gap:14px;justify-content:flex-end;flex-wrap:wrap;margin-bottom:6px}\n.pil-legend span{display:inline-flex;align-items:center;gap:6px}\n.pil-legend i{width:14px;height:10px;display:inline-block}\n\/* grafico de colunas: .pil-bars > div[style=height:%] > span (valor); .pil-years > span *\/\n.pil-bars{display:flex;align-items:flex-end;gap:2.2%;height:240px;border-bottom:1.5px solid #333;padding:22px 1% 0}\n.pil-bars>div{flex:1;background:var(--light);position:relative;min-height:1px}\n.pil-bars>div.e{background:var(--blue)}\n.pil-bars>div.cur{background:var(--navy)}\n.pil-bars>div>span{position:absolute;top:-19px;left:50%;transform:translateX(-50%);font-size:12px;white-space:nowrap}\n.pil-years{display:flex;gap:2.2%;padding:4px 1% 0;font-size:11px;text-align:center}\n.pil-years span{flex:1}\n.pil-cagr{text-align:center;font-size:12px;font-weight:700}\n.pil-cagr span{display:inline-block;border:1.5px solid #222;border-radius:50%;padding:2px 8px;margin-top:4px}\n\/* barras horizontais: .pil-hbars > .r > (b nome) (.bar > i[style=width:%]) (em valor) *\/\n.pil-hbars{display:grid;gap:8px;font-size:13px}\n.pil-hbars .r{display:grid;grid-template-columns:minmax(90px,30%) 1fr auto;gap:10px;align-items:center}\n.pil-hbars .bar{background:var(--pale);height:18px}\n.pil-hbars .bar i{display:block;height:100%;background:var(--blue)}\n.pil-hbars em{font-style:normal;font-weight:700;color:var(--navy);min-width:48px;text-align:right}\n\/* cartoes de numeros *\/\n.pil-box{border:2px solid var(--navy);border-radius:0 0 10px 10px;background:#fff}\n.pil-box>h3{margin:0;background:var(--navy);color:#fff;font-size:14px;text-align:center;padding:8px}\n.pil-stat{text-align:center;padding:16px 14px;font-size:13px;line-height:1.45}\n.pil-stat strong{display:block;font-size:40px;color:var(--blue);font-weight:800;line-height:1.1}\n.pil-stat strong small{font-size:22px}\n.pil-stat em{font-style:normal;color:var(--blue);font-weight:700}\n.pil-card{background:#fff;border-radius:12px;box-shadow:0 1px 5px rgba(0,0,0,.14);padding:14px 16px;font-size:13px;line-height:1.5}\n.pil-card h3{font-size:15px;color:var(--navy);margin:0 0 8px}\n.pil-card.tint{background:var(--card);box-shadow:none}\n\/* listas e fatos *\/\n.pil-list{margin:0;padding-left:18px;font-size:14px;line-height:1.6}\n.pil-list li{margin-bottom:6px}\n.pil-fact{font-size:14px;line-height:1.5;padding-left:14px;border-left:3px solid var(--light)}\n.pil-fact.dark{border-color:var(--navy)}\n.pil-fact b{color:var(--navy)}\n.pil-fact big{font-size:20px;font-weight:800;color:var(--navy)}\n.pil-hl{color:var(--blue);font-weight:700}\n\/* tabela *\/\n.pil-tw{overflow-x:auto}\n.pil-table{width:100%;border-collapse:collapse;font-size:13px}\n.pil-table th{background:var(--navy);color:#fff;text-align:left;padding:8px 10px;font-weight:700}\n.pil-table td{padding:7px 10px;border-bottom:1px solid #d8dce4;vertical-align:top}\n.pil-table tr:nth-child(even) td{background:#f5f6f9}\n.pil-table .n{text-align:right;font-variant-numeric:tabular-nums;white-space:nowrap}\n\/* linha do tempo *\/\n.pil-time{display:grid;gap:14px;border-left:2px dashed var(--light);padding-left:18px;margin-left:6px}\n.pil-time>div{position:relative;font-size:14px;line-height:1.5}\n.pil-time>div::before{content:\"\";position:absolute;left:-25px;top:5px;width:12px;height:12px;border-radius:50%;background:var(--navy)}\n.pil-time b.y{display:block;color:var(--light);font-size:16px;font-weight:800}\n\/* figuras (recortes do slide) *\/\n.pil-fig{margin:0}\n.pil-fig figcaption{text-align:center;font-weight:800;color:var(--light);font-size:16px;margin-top:4px}\n.pil-brand{background:var(--card);border-radius:14px;overflow:hidden}\n.pil-brand p{margin:0;text-align:center;font-size:20px;font-weight:800;font-style:italic;color:var(--navy);padding:10px 0 12px}\n@media (max-width:700px){\n  .pil-grid2,.pil-grid2.wide-left,.pil-grid2.wide-right{grid-template-columns:1fr}\n  .pil-grid3,.pil-grid4,.pil-grid5{grid-template-columns:1fr 1fr}\n  .pil-sec h2{font-size:17px}\n  .pil-bars{height:180px}\n  .pil-bars>div>span{font-size:10px}\n  .pil-years{font-size:9px}\n}\n@media (max-width:480px){\n  .pil-bars{gap:1.2%}\n  .pil-years{gap:1.2%;font-size:8px}\n  .pil-bars>div>span{font-size:8px;letter-spacing:-.3px}\n  .pil-bars:has(>div:nth-child(13))>div>span{writing-mode:vertical-rl;transform:translateX(-50%) rotate(180deg);top:auto;bottom:100%;padding-bottom:2px}\n  .pil-years:has(>span:nth-child(13)) span{writing-mode:vertical-rl;transform:rotate(180deg);margin:0 auto}\n}\n<\/style>\n<div class=\"pil\">\n\n<section class=\"pil-sec\">\n  <h2>Nos \u00faltimos anos, mudan\u00e7as regulat\u00f3rias facilitaram a migra\u00e7\u00e3o para o ACL e reformas adicionais acelerar\u00e3o esse processo a partir de 2024<\/h2>\n  <div class=\"pil-sub\">Demanda m\u00ednima de energia necess\u00e1ria para migrar para o ACL<\/div>\n  <span class=\"pil-unit\">kW<\/span>\n  <div class=\"pil-bars\" role=\"img\" aria-label=\"Demanda m\u00ednima de energia para migrar para o ACL, em kW: 2018 3.000; 2019 2.500; 2020 2.000; 2021 1.500; 2022 1.000; 2023 500; 2024 sem demanda m\u00ednima\">\n    <div style=\"height:100%\"><span>3.000<\/span><\/div>\n    <div style=\"height:83.3%\"><span>2.500<\/span><\/div>\n    <div style=\"height:66.7%\"><span>2.000<\/span><\/div>\n    <div style=\"height:50%\"><span>1.500<\/span><\/div>\n    <div style=\"height:33.3%\"><span>1.000<\/span><\/div>\n    <div style=\"height:16.7%\"><span>500<\/span><\/div>\n    <div style=\"height:0\"><\/div>\n  <\/div>\n  <div class=\"pil-years\"><span>2018<\/span><span>2019<\/span><span>2020<\/span><span>2021<\/span><span>2022<\/span><span>2023<\/span><span>2024<\/span><\/div>\n  <div class=\"pil-time\" style=\"margin-top:22px\">\n    <div>Somente os <b>consumidores que possuem demanda de energia superior a 3.000 kW e est\u00e3o conectados a uma rede el\u00e9trica de alta tens\u00e3o<\/b> podem ingressar no Mercado Livre.<\/div>\n    <div>Portaria 514\/18 estabeleceu a <b>redu\u00e7\u00e3o anual de demanda de energia em 500 kW<\/b><\/div>\n    <div>A partir de 2024, o ACL ser\u00e1 liberado para <b>todos os consumidores que est\u00e3o conectados a uma rede el\u00e9trica de alta tens\u00e3o no Brasil, independentemente do consumo m\u00ednimo<\/b><\/div>\n  <\/div>\n  <div class=\"pil-src\">Fonte: CCEE; Gov.br; An\u00e1lise \u00c1rtica<\/div>\n<\/section>\n\n<section class=\"pil-sec\">\n  <h2>Com essa abertura, a partir de 2024, ser\u00e1 liberado o acesso ao mercado livre para +130.000 unidades consumidoras<\/h2>\n  <div class=\"pil-sub\">Unidades Consumidoras (UCs) Impactadas<\/div>\n  <span class=\"pil-unit\">#<\/span>\n  <div class=\"pil-grid3\" style=\"margin-top:10px\">\n    <div class=\"pil-box\" style=\"border-color:#adb8cb\"><h3 style=\"background:#adb8cb;color:var(--navy)\">Unidades consumidoras j\u00e1 no ACL<\/h3><div class=\"pil-stat\"><strong>33.855<\/strong><\/div><\/div>\n    <div class=\"pil-box\" style=\"border-color:#8597b0\"><h3 style=\"background:#8597b0\">Unidades consumidoras aptas a estarem no ACL com as regras atuais<\/h3><div class=\"pil-stat\"><strong>+70.000<\/strong><\/div><\/div>\n    <div class=\"pil-box\" style=\"border-color:#44546b\"><h3 style=\"background:#44546b\">Unidades consumidoras aptas a estarem no ACL a partir de 2024<\/h3><div class=\"pil-stat\"><strong>+202.000<\/strong><\/div><\/div>\n  <\/div>\n  <div class=\"pil-src\">Fonte: CCEE; Abraceel; An\u00e1lise \u00c1rtica<\/div>\n<\/section>\n\n<section class=\"pil-sec\">\n  <h2>Buscando se posicionar e fazer frente \u00e0s mudan\u00e7as regulat\u00f3rias, diversos players est\u00e3o se movimentado e realizando aquisi\u00e7\u00f5es de comercializadoras e geradoras de energia<\/h2>\n  <div class=\"pil-sub\">Transa\u00e7\u00f5es Recentes Selecionadas<\/div>\n  <div class=\"pil-grid5\">\n    <div class=\"pil-card\" style=\"text-align:center\"><img decoding=\"async\" src=\"https:\/\/artica.capital\/wp-content\/uploads\/2026\/09\/5243-raizen.png\" alt=\"Ra\u00edzen\" loading=\"lazy\" style=\"margin:0 auto;max-height:44px;width:auto\"><p class=\"pil-p\" style=\"margin:8px 0\">Adquiriu<\/p><img decoding=\"async\" src=\"https:\/\/artica.capital\/wp-content\/uploads\/2026\/09\/5243-wx.png\" alt=\"WX Energy\" loading=\"lazy\" style=\"margin:0 auto;max-height:40px;width:auto\"><p class=\"pil-p\" style=\"margin:8px 0 0;font-size:16px\">2018<\/p><\/div>\n    <div class=\"pil-card\" style=\"text-align:center\"><img decoding=\"async\" src=\"https:\/\/artica.capital\/wp-content\/uploads\/2026\/09\/5243-dxt.png\" alt=\"DXT Commodities\" loading=\"lazy\" style=\"margin:0 auto;max-height:44px;width:auto\"><p class=\"pil-p\" style=\"margin:8px 0\">Adquiriu<\/p><img decoding=\"async\" src=\"https:\/\/artica.capital\/wp-content\/uploads\/2026\/09\/5243-matrix.png\" alt=\"Matrix\" loading=\"lazy\" style=\"margin:0 auto;max-height:44px;width:auto\"><p class=\"pil-p\" style=\"margin:8px 0 0;font-size:16px\">2018<\/p><\/div>\n    <div class=\"pil-card\" style=\"text-align:center\"><img decoding=\"async\" src=\"https:\/\/artica.capital\/wp-content\/uploads\/2026\/09\/5243-alothon.png\" alt=\"Alothon Group LLC\" loading=\"lazy\" style=\"margin:0 auto;max-height:44px;width:auto\"><p class=\"pil-p\" style=\"margin:8px 0\">Adquiriu<\/p><img decoding=\"async\" src=\"https:\/\/artica.capital\/wp-content\/uploads\/2026\/09\/5243-eletron.png\" alt=\"Eletron Energy\" loading=\"lazy\" style=\"margin:0 auto;max-height:32px;width:auto\"><p class=\"pil-p\" style=\"margin:8px 0 0;font-size:16px\">2019<\/p><\/div>\n    <div class=\"pil-card\" style=\"text-align:center\"><img decoding=\"async\" src=\"https:\/\/artica.capital\/wp-content\/uploads\/2026\/09\/5243-cosan.png\" alt=\"Cosan\" loading=\"lazy\" style=\"margin:0 auto;max-height:36px;width:auto\"><p class=\"pil-p\" style=\"margin:8px 0\">Adquiriu<\/p><img decoding=\"async\" src=\"https:\/\/artica.capital\/wp-content\/uploads\/2026\/09\/5243-compass.png\" alt=\"Compass g\u00e1s &amp; energia\" loading=\"lazy\" style=\"margin:0 auto;max-height:34px;width:auto\"><p class=\"pil-p\" style=\"margin:8px 0 0;font-size:16px\">2020<\/p><\/div>\n    <div class=\"pil-card\" style=\"text-align:center\"><img decoding=\"async\" src=\"https:\/\/artica.capital\/wp-content\/uploads\/2026\/09\/5243-vibra1.png\" alt=\"Vibra\" loading=\"lazy\" style=\"margin:0 auto;max-height:36px;width:auto\"><p class=\"pil-p\" style=\"margin:8px 0\">Adquiriu<\/p><img decoding=\"async\" src=\"https:\/\/artica.capital\/wp-content\/uploads\/2026\/09\/5243-targus.png\" alt=\"Targus Energia\" loading=\"lazy\" style=\"margin:0 auto;max-height:64px;width:auto\"><p class=\"pil-p\" style=\"margin:8px 0 0;font-size:16px\">2021<\/p><\/div>\n    <div class=\"pil-card\" style=\"text-align:center\"><img decoding=\"async\" src=\"https:\/\/artica.capital\/wp-content\/uploads\/2026\/09\/5243-perfin.png\" alt=\"Perfin\" loading=\"lazy\" style=\"margin:0 auto;max-height:34px;width:auto\"><p class=\"pil-p\" style=\"margin:8px 0\">Investiu na<\/p><img decoding=\"async\" src=\"https:\/\/artica.capital\/wp-content\/uploads\/2026\/09\/5243-comerc1.png\" alt=\"Comerc Energia\" loading=\"lazy\" style=\"margin:0 auto;max-height:32px;width:auto\"><p class=\"pil-p\" style=\"margin:8px 0 0;font-size:16px\">2021<\/p><\/div>\n    <div class=\"pil-card\" style=\"text-align:center\"><img decoding=\"async\" src=\"https:\/\/artica.capital\/wp-content\/uploads\/2026\/09\/5243-vibra2.png\" alt=\"Vibra\" loading=\"lazy\" style=\"margin:0 auto;max-height:36px;width:auto\"><p class=\"pil-p\" style=\"margin:8px 0\">Investiu na<\/p><img decoding=\"async\" src=\"https:\/\/artica.capital\/wp-content\/uploads\/2026\/09\/5243-comerc2.png\" alt=\"Comerc Energia\" loading=\"lazy\" style=\"margin:0 auto;max-height:32px;width:auto\"><p class=\"pil-p\" style=\"margin:8px 0 0;font-size:16px\">2021<\/p><\/div>\n    <div class=\"pil-card\" style=\"text-align:center\"><img decoding=\"async\" src=\"https:\/\/artica.capital\/wp-content\/uploads\/2026\/09\/5243-eneva.png\" alt=\"Eneva\" loading=\"lazy\" style=\"margin:0 auto;max-height:44px;width:auto\"><p class=\"pil-p\" style=\"margin:8px 0\">Adquiriu<\/p><img decoding=\"async\" src=\"https:\/\/artica.capital\/wp-content\/uploads\/2026\/09\/5243-focus.png\" alt=\"Focus Energia\" loading=\"lazy\" style=\"margin:0 auto;max-height:34px;width:auto\"><p class=\"pil-p\" style=\"margin:8px 0 0;font-size:16px\">2021<\/p><\/div>\n    <div class=\"pil-card\" style=\"text-align:center\"><img decoding=\"async\" src=\"https:\/\/artica.capital\/wp-content\/uploads\/2026\/09\/5243-mitsui.png\" alt=\"Mitsui &amp; Co.\" loading=\"lazy\" style=\"margin:0 auto;max-height:44px;width:auto\"><p class=\"pil-p\" style=\"margin:8px 0\">Investiu na<\/p><img decoding=\"async\" src=\"https:\/\/artica.capital\/wp-content\/uploads\/2026\/09\/5243-stima.png\" alt=\"Stima Energia\" loading=\"lazy\" style=\"margin:0 auto;max-height:44px;width:auto\"><p class=\"pil-p\" style=\"margin:8px 0 0;font-size:16px\">2022<\/p><\/div>\n    <div class=\"pil-card\" style=\"text-align:center\"><img decoding=\"async\" src=\"https:\/\/artica.capital\/wp-content\/uploads\/2026\/09\/5243-shell.png\" alt=\"Shell\" loading=\"lazy\" style=\"margin:0 auto;max-height:52px;width:auto\"><p class=\"pil-p\" style=\"margin:8px 0\">Adquiriu<\/p><img decoding=\"async\" src=\"https:\/\/artica.capital\/wp-content\/uploads\/2026\/09\/5243-prime.png\" alt=\"Prime Energy\" loading=\"lazy\" style=\"margin:0 auto;max-height:44px;width:auto\"><p class=\"pil-p\" style=\"margin:8px 0 0;font-size:16px\">2023<\/p><\/div>\n  <\/div>\n  <div class=\"pil-src\">Fonte: Capital IQ; <i>Clippings; <\/i>An\u00e1lise \u00c1rtica<\/div>\n<\/section>\n\n<\/div>\n\n","protected":false},"excerpt":{"rendered":"<p>O Ambiente de Contrata\u00e7\u00e3o Livre (ACL), popularmente conhecido como mercado livre de energia, possibilita que seus consumidores tenham a liberdade de negociar suas pr\u00f3prias condi\u00e7\u00f5es de compra de energia el\u00e9trica, estabelecendo contatos diretos com geradores e comercializadoras.<\/p>","protected":false},"author":1,"featured_media":5239,"template":"","meta":[],"class_list":["post-5243","pilulas","type-pilulas","status-publish","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/artica.capital\/en\/wp-json\/wp\/v2\/pilulas\/5243","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/artica.capital\/en\/wp-json\/wp\/v2\/pilulas"}],"about":[{"href":"https:\/\/artica.capital\/en\/wp-json\/wp\/v2\/types\/pilulas"}],"author":[{"embeddable":true,"href":"https:\/\/artica.capital\/en\/wp-json\/wp\/v2\/users\/1"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/artica.capital\/en\/wp-json\/wp\/v2\/media\/5239"}],"wp:attachment":[{"href":"https:\/\/artica.capital\/en\/wp-json\/wp\/v2\/media?parent=5243"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}