What has happened to the price of energy in Colombia amid the winter wave?
The intense rains at the beginning of the year have reactivated the debate about the price of kilowatts on the energy exchange and what users pay on their bills.
TL;DR
- Heavy rains have caused hydroelectric reservoir levels to rise, leading to a significant decrease in the price of electricity on the energy exchange.
- The price per kilowatt-hour on the energy exchange has fallen from $279.78 in January to $109.92 in February.
- Hydroelectric generation accounts for 66% to 80% of Colombia's national electricity matrix.
- The Ministry of Mines and Energy has asked energy generators to offer energy at prices that reflect lower generation costs and benefit consumers.
- Industry associations argue that the price reduction is a natural consequence of high water levels and that generators are already acting responsibly.
- The operation of reservoirs is governed by strict rules, balancing river regulation, energy generation, and flood risk reduction.