We report a complete analysis of the formal oxidation state of Co in NaxCoO2, in the interval 0.31<x<0.67. Iodometric titration and thermoelectric power confirm that a direct relationship between the Na content and the amount of Co 3 + cannot be established in this system. Creation of a significant amount of oxygen vacancies accompanies Na-ion deintercalation, keeping the formal Co valence at 3.45 + for x<0.45. To the light of new thermoelectric power data which reveals important differences between the hydrated (superconducting) and non-hydrated (non-superconducting) samples, we propose here that water plays an important chemical role beyond that of a spacer between the CoO2 layers.
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