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Regulatory risk assessment of research & development in the Brazilian electrical sector

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  • José Luiz Pereira Brittes
  • Sergio L. M. Salles-Filho
  • Mariana Savedra Pfitzner

Abstract

This paper presents a methodology of R&D&I project ex-ante evaluation for the Brazilian electric power sector using a multi-criteria tool focused on risk. The R&D process in the Brazilian electric power industry is regulated by the National Electric Energy Agency (ANEEL), and requires companies to invest part of Net Operating Income (NOI) in R&D&I. This pushed firms to structure management routines for technological innovation efforts that simultaneously mitigate market and regulatory risk. One way to achieve this issue is to perform an ex-ante evaluation project selection methodology able to deal with somewhat antagonistic multiple-element analysis. PiTech (Prioritization in Technology) is a very flexible and conducive tool for performing such a weighted parametric multivariate analysis. The case presented in this article was performed with PiTech working with operational, market and regulatory criteria in multiple combinations for 19 projects for a key holding group in the Brazilian power market. The tool proved to be very useful by allowing decision makers to verify the appropriateness of investment in R&D projects totaling R$61 million in 2010, minimizing regulatory risks and preserving adherence to corporate interests.

Suggested Citation

  • José Luiz Pereira Brittes & Sergio L. M. Salles-Filho & Mariana Savedra Pfitzner, 2015. "Regulatory risk assessment of research & development in the Brazilian electrical sector," RAC - Revista de Administração Contemporânea (Journal of Contemporary Administration), ANPAD - Associação Nacional de Pós-Graduação e Pesquisa em Administração, vol. 19(2), pages 193-211.
    • Handle: RePEc:abg:anprac:v:19:y:2015:i:2:1100
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