Tariffs for Brazilian nuclear power plants Angra 1 and Angra 2 will increase by 39.86pc in 2022, according to Brazilian national power regulatory agency Aneel.

The two power plants have an installed capacity of about 2GW and are currently 11pc of the total thermal generation in Brazil. Prior to the increase, the Angra plant tariffs were the lowest in the country among thermal generation plants.

Fuel costs were the largest factor behind the tariff increase, according to the technical analysis supporting the tariff. The total cost of the uranium fuel for the year increased from R827mn ($148mn) in 2021 to R1.13bn for 2022.

The two plants are under a steady dispatch model, meaning their costs and their power output are shared among all the power distribution companies.

The Angra plant tariff increase will translate to an estimated 0.75pc tariff increase when spread among all the distributors for 2022.