XM talks energy sector

Company News, Electricity, Energy    Apr 5, 2021 4:30 PM

XM’s María Arboleda spoke about the demand for energy, renewables and the impact of the pandemic on the sector.

She told La Republica that demand decreased 3.5% in 2020 due to the pandemic, but in recent weeks this metric has shown a recovery.

“However, the impact is still great, we even reached values in regions of -15% and -12%,” Arboleda said.

Arboleda explained that demand did not pick up in January or February this year due to holidays and cold waves.

“We expect a significant recovery this year, but I think it will take a couple of years to return to pre-covid levels. We are watching how vaccination is progressing,” Arboleda said.

The expert said that the recovery process will take at least three years, as demand has recovered compared to last year’s metrics, but the behavior is negative compared to 2019 figures.

Arboleda said that the country will begin to see a greater share of renewable energies in the next three years.

“The energy matrix is probably going to have a big change because we expect the entry into operation of almost 10,000MW between wind and solar by 2024. Even in 2022, we could have 2,500MW,” Arboleda highlighted.

Arboleda said that the goal of making the electricity sector carbon neutral in 2050 is related to the Paris Agreement.

“The idea is to look at what actions should be taken and how we are going to move forward. We are the first sector to adopt an alliance of this type and we seek to reduce 11.2 million tons of CO2 by 2030,” Arboleda concluded.

Bottom-Line: The government did a great job of driving the growth of unconventional renewables over the past few years.

The results will begin to be seen in the coming years, but authorities must continue to accompany the companies, especially in social and security matters to guarantee the necessary transport infrastructure.

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