2025/2026 RAP Cycle
On July 15, 2025, Homologatory Resolution No. 3,481/2025 (click here) was published setting the RAP of ISA ENERGIA BRASIL and its controlled and jointly controlled companies for the provision of transmission facilities that are part of the Basic Network and other Transmission Facilities, for the 12-month Tariff Cycle covering the period from July 1, 2025, to June 30, 2026 (2025/2026 cycle).
RAP Cycle 2025/20261
1. Permitted Annual Revenue (“RAP”) cycle 2025/2026.
2. Operation and Maintenaince + Reinforcements and Improvements.
According to REH No. 3,481/2025, the consolidated RAP and jointly controlled companies, net of PIS and COFINS, reached R$ 6,372.74 million for the 25/26 cycle, weighted by ISA ENERGIA BRASIL's share (as of June 2025). The RAP from the renewed contract (059/2001), including Reinforcements and Improvements, RBSE, and the Operation and Maintenance (O&M) portion, represents 56% of the total, while 44% refers to auctioned contracts resulting from transmission auctions or acquisitions (M&A).
RAP cycle evolution¹ (million)
1 considers values established at the time of publication of the respective Homologatory Resolutions for the RAP of the tariff cycles.
RAP for the 25/26 cycle increased by R$ 83.5 million (+1.3%) compared to the previous tariff cycle (23/24). The main reasons for this change are:
- monetary adjustment for the 25/26 cycle (IPCA), totaling R$ 333.8 million;
- new R&I projects that started operating in the last cycle, adding R$ 105.7 million;
- decreasing trajectory of O&M RAP as established in the 2024 RTP;
- reduction of R$ 317.0 million from the RBSE financial component;
In addition, the resolution also set PA values to be compensated in the same period to address any financial adjustments. The total PA value, considering the consolidated total and the amount proportional to the Company’s participation in jointly controlled companies, was R$ 26 million for the 25/26 cycle, as described below:
▲ R$ 100 million related to the RTP of the Paulista Concession;
▲ R$ 40 million in annuity for improvements;
▲ R$ 6 million from authorized projects without prior RAP;
▲ R$ 2 million related to the RTP of the assets: IENNE, Jaguar 9, and Serra do Japi;
▼ R$ -98 million to offset surplus revenue from the previous period;
▼ R$ -10 million related to Other Transmission Facilities (“DIT”);
▼ R$ -14 million from other adjustments.
Below is a summary table of the RAP for the 25/26 cycle. The values are net of PIS and COFINS, include regulatory charges for R&D, TFSE, and RGR, and exclude CDE and PROINFA charges.
Click here to download the spreadsheet
Updated on April 7, 2026.