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In the last two decades, the hydro-dominant Brazilian Power System (BPS) has been facing critical situations such as the rationing of 20% of the load during 2001/2002, and some spikes on spot market prices reaching the price cap as occurred in January 2008 and all over the years 2014 and 2015. Since the BPS is planned for a 5% risk of load shortage, the reason for these successive difficulties could...
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