Petro Government asks to lower energy prices due to high reservoir levels in Colombia
The Petro Government launched a direct call to energy generators to reduce electricity prices and protect users, in...
TL;DR
- The Colombian government has urged energy generators to lower electricity prices due to high reservoir levels.
- The Ministry of Mines and Energy issued a circular asking generators, especially hydro and low-cost ones, to reduce prices.
- State-owned generators like GECELCA, GENSA, and URRÁ are expected to lead by example in applying fair tariffs.
- The goal is for energy prices to reflect actual generation costs and for these savings to be passed on to users.
- Nine out of 24 hydroelectric reservoirs are at or above 90% capacity, with Urrá even exceeding 100%.
- The government wants prices to be consistent with the country's hydrological reality, arguing high prices are unjustified.
- There's also a push to strengthen energy contracts to reduce distributor exposure to volatile spot markets.