Brazil’s electricity regulator, known as Aneel, proposed a 3.55 percent cut to Bandeirante Energia SA’s power rates during the next four years.

The increase is pending final approval by the agency, Nelson Hubner, Aneel’s general director, said at a meeting today in Brasilia.

To contact the reporter on this story: Mario Sergio Lima in Brasilia Newsroom at mlima11@bloomberg.net

To contact the editor responsible for this story: James Attwood at jattwood3@bloomberg.net