A recent study by BTG Pactual has shed light on the significant rise in energy prices in Colombia this year, primarily driven by the ongoing El Niño phenomenon, which has persisted longer than anticipated by IDEAM.
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Colombia’s carbon tax is a mere US$6 per ton of CO2equivalent, perhaps a useful source revenue but hardly a disincentive. What would an effective tax look like?
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Our recent article about the viability of renewable energy investments leaned heavily on Levelized Cost of Energy or LCOE and, coincidentally, the Energy Institute (EI) updated its LCOE estimates for a range of technologies. For comparison and for local flavor, we found the UPME LCOE’s on the website (with some questions pending) and the International Energy Agency’s (IEA) estimates.
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Continuing on from last week’s Thursday Thought we look at some of the relevant factors using disguised data from a member of the Colombian electricity sector.
Read moreEveryone can agree that tariffs should be fair. Who would agree they could be unfair? The Minister of Energy, Andrés Camacho, says “Our goal is to guarantee fair rates.” But what does that mean? Fair to whom? Everyone? Is that even possible? Are Colombian tariffs unfair and how do you make that determination in the first place?
Read moreThe Colombian Association of Engineers (ACIEM) presented comments on the proposed decree that sets policies and guidelines to promote efficiency and competitiveness in the national electricity service.
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President Gustavo Petro has other problems this week so we have not heard much from his plan to set electricity rates PERSONALLY! Turns out European countries have the same problem of “too high” tariffs and are looking for better solutions than simply making arbitrary cuts. In the UK, some think that making public utilities into so-called “public benefit corporations” would solve the problem but I have my doubts.
Read moreColombians perceive they are still paying high energy prices, yet the country’s reservoirs are full, and the extended rainy season keeps them that way. Why?
Read morePresident Gustavo Petro spoke about energy prices in the country.
Read moreColombians have complained about alleged increases in their energy bills. The Ministry of Mines and Energy (MinEnergia) spoke on the matter.
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The president of the Senate’s Fifth Commission (responsible for energy issues), Senator José David Name, questioned the regulations set by the Energy Regulatory Commission (CREG) for the country’s renewable energy auction.
Read moreThe Ministry of Mines and Energy (MinMinas) held a reliability auction to guarantee the energy supply in the coming years. This was a separate and distinct process from the long-term renewables auction held at the same time, which resulted in no transactions.
Read moreÁngela Montoya, president of the Colombian Association of Electric Power Generators (Acolgen) explained why ‘El Niño’ phenomenon will not affect energy tariffs this year.
Read moreThe National Department of Statistic (DANE) published figures for the variation of energy service tariffs. This is what industry experts have to say about it.
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