SAO PAULO, Nov 29 (Reuters) - Brazilian power company Eletrobras said on Tuesday it has decided to temporarily halt its migration to "Novo Mercado," a segment of the local stock exchange with stricter governance rules, due to adverse economic and market conditions.

Centrais Eletricas Brasileiras SA, as the company is formally known, said in a securities filing that in 2023 it would reassess the migration process, part of its post-privatization plans.

Eletrobras was

privatized

in June when the federal government diluted its stake in the company through a 33.68 billion real ($6.28 billion) share offering.

Chief Executive Wilson Ferreira Jr had said in September the company was hoping to conclude the "Novo Mercado" migration

within eight to 10 months

.

Eletrobras also said in Tuesday's filing it had started plans to propose to its shareholders a total redemption of class A preferred shares in the future, in a bid to optimize its shareholder base and cut costs.

Under the new plan, the company would also incorporate shares of a number of subsidiaries including Chesf, CGT Eletrosul, Furnas and Eletronorte.

($1 = 5.3654 reais) (Reporting by Gabriel Araujo; Editing by Louise Heavens)