Energy: 2026

When a new year begins, the question typically arises: what to do?

I'm referring more specifically to energy source contracting strategies. This primarily depends on assessing market trends, identifying the risks involved, and mitigating them. Those who tackle this challenge will have a better chance of staying ahead of their competitors, since the tradition is to "let things roll."

There's a list of questions that should be asked and, above all, answered. I've selected the four listed below.

1. When to close a new energy contract?

Take the initiative when prices are "sexy" instead of just on the eve of the current contract's expiration.

2. What volume to close?

The one corresponding to the nominal plan of operations, lower or higher? Each of these alternatives has its advantages, disadvantages, and associated risks.

3. How to compose a mix of energy sources?

What sources can be used in your processes to enable cost arbitrage?

4. What pricing models to contract?

Fixed price indexed to an inflationary parameter, a "collar" (not yet widely known in Brazil but potentially viable), or even a "spot" price. Create a portfolio of prices associated with volumes?