ELECTRICITY PRICES, STATE POLICIES, AND CORPORATE STRATEGIES IN BRAZIL: A LITERATURE REVIEW USING PROKNOW-C

Resumo

The Brazilian electricity sector is undergoing profound transformations driven by decarbonization and regulatory dynamism. This study conducts a systematic literature review on the interaction between electricity prices, state policies, and corporate strategies in Brazil (2020-2025). The application of the ProKnow-C method in the Periódicos Capes database resulted in a portfolio of 10 high-impact articles, highlighting a recent and concentrated scientific production. The analysis reveals critical structural tensions: the gap between the country's geopolitical leadership and the inertia of implementation due to infrastructure and financing gaps; and corporate behavior under regulatory uncertainty, in which ESG investments and self-generation operate as security mechanisms against the volatility of the Settlement Price for Differences (PLD). A fragmented academic landscape is identified, with a lack of holistic research on wind and hydroelectric sources, despite their dominance in the energy matrix, and limited exploration of disruptive technologies such as smart grids and energy storage. It is concluded that the energy price acts as a thermometer of regulatory friction, reflecting state inefficiencies that shape reactive business behaviors. The study provides an overview for aligning long-term policies and resilient strategies, aiming to overcome the fragmentation between academia and the market.