Máxima Energia is an energy trading company that operates in the Brazilian free market.

With over a decade of professional experience, our team has a solid knowledge of the electric and financial sectors, combining the best risk management practices with tools specially developed for the segment. We serve the market with tailor made products and solutions for our customers, acting as a safe liquidity option.

Dynamism and creativity guide our day to day activity, in order assist our clients in the efficient management of everything that involves their electricity contracts and its energy balance.

Our managers financial knowledge adds alternatives to our products shelf, so that we can provide advisory services on electricity contracts and make it a source of financing for the company, either generators as well as consumers.

Our mission is to build transparent and long-lasting relationships which position us among the best business options in Brazil's energy free market.


Rafael Bispo

Founder, responsible for the trading and structured products areas, Previously, Macquarie´s Bank partner at its energy trading company in Brazil, from 2012 to 2016. Also worked in the equity derivatives proprietary desk of Commerzbank between 2008 and 2010. At Dresdner Kleinwort bank acted in the currencies and derivatives proprietary desk (2004 – 2008). He began his career at the international desk of GFI and Compagnie Financière Tradition, brokerage firms, and worked at Bloomberg, running projects throughout Latin America from New York, Santiago of Chile and São Paulo offices. He holds a BSc degree in Economics from FAAP - Fundação Armando Alvares Penteado and is also graduated in Business Economics at the University of Plymouth, England.

Vitor Chiamente

Responsible for the operations area, portfolio management and risk management. He was previously partner at Compass Comercializadora de Energia, managing clients portfolio and providing solutions in the regulatory sphere. Also acted as risk and portfolio director. In the consulting company EIG, he managed customers and generators portfolios. Prior to that, he worked for more than five years at Itaú BBA Bank, in the modeling and operations areas, treasury control, compliance and market and operational risks. He holds a degree in Electrical Engineering with emphasis in Electronics from the School of Engineering of São Carlos - USP.

Jackson Graziano

Responsible for financial modeling and energy pricing. He was the Controller and COO of Nucleo Capital, an asset management company focused on public equities. Also worked as Financial Advisor in a Single Family Office. He worked for six years in several areas of Itaú Unibanco, such as Credit Strategy, Products and Modeling. He holds a degree in Electronic Engineering from ITA and a post-graduate degree in Business Administration from FGV.

Anna Gabriela

Holds a Bachelor’s Degree in International relations from Escola Superior de Propaganda e Marketing (ESPM), São Paulo, and a Certificate in Business from Columbia University, New York. Works at Máxima as an Energy Trader. Has previously worked in a Single Family Office.

Leandro Stamato

Graduated in Economics from Universidade Federal Fluminense (UFF), Postgraduate in Finance from IBMEC and certified in Market Risk by BM&F - He worked for 15 years in the commercial area of Reuters with specialization in the Commodities segments. Since 2015 he has been working in the power sector where he had the opportunity to develop, together with teams from Brazil, Norway and Sweden, the hydrology product (rain inflow model) and later the PLD forecasting process.

André Ferrari

Responsible for the Back Office. He holds a Bachelor’s Degree in Electronic Engineering with an emphasis in Power Energy and Automation Systems from Mackenzie University, São Paulo, and a Master’s Degree in electrotechnical engineering with an emphasis in electrical systems from Porto University, Portugal.

free market

Energy free market was created in Brazil in 1995 to promote free competition between suppliers and foster a business environment with better conditions for energy wholesale consumers and generators.

The commercial conditions are flexible with regards to price, contracting period and contract indexer. Being free is to be able to make better contracts and to develop your own strategies, in addition to choosing your supplier.

In the regulated market, consumers can only buy electricity from the concessionaire that serves their region. Prices are determined by the supplier and are subject to the delivery tariffs established by ANEEL.

The energy supplied is purchased from the distributors who, in turn, acquire it through federal auctions, which the costs are passed on to the consumer.

benefits of being free

cost reduction

This is one of the key benefits for those migrating from the regulated market to the free market of energy. The companies start to negotiate price, terms and indexation, besides being able to better adjust their consumption.

budget predictability

By being able to negotiate their energy in advance in the free market, companies can elaborate a budget forecast, not being subject to the variations and adversities of the regulated market.

power of decision

In the regulated market, consumers can not choose their energy suppliers. They are subject to increases in energy prices. Therefore, the free market guarantees greater performance and profitability for companies.

who can be free?

special consumer

  • Contracted demand between 500 kW and 3,000 kW
  • Encouraged to consume energy from renewable sources
  • Customers that have units under the same CNPJ with a minimum consumption of 500 kW
  • Attendance in medium or high voltage (Group A)

free consumer

  • Contracted demand greater than or equal to 3,000 kW
  • Connected after July/95 - can consume any source of energy
  • Connected before July/95 - the source depends on the voltage: if less than 69 kV, he must consume energy from renewable sources; If greater than 69 kV, he can consume from any power source


  • PURCHASE AND SALE OF ENERGY conventional and incentivized sources; short, medium and long term; fixed price and PLD + Spread.
  • SWAPS of power sources, submarkets and calendars.
  • COLLAR contracts indexed to PLD.
  • OPTIONS and NDFs (Non Deliverable Forward) of energy.
  • Contracts indexed to FOREIGN CURRENCY.
  • RECEIVABLES DISCOUNT of energy contracts.
  • HEDGES with derivatives contracts.