Latin America
With a power score of 2.41, Colombia ranks number 13 among Emerging Markets and number 4 in the Latin America region
Power score
2.41/5
Score over time
2021 - 2024
Colombia has a power score of 2.41, which puts it at rank 13 in the Emerging Markets power ranking. In comparison to 2023, Colombia has dropped in the power rankings by 5 places, from rank 8, to rank 13.
At 2.41, the power score of Colombia is better than than the regional average of 1.93 in the Latin America region and puts it at rank 4 in the region.
Colombia implements policies in 6/9 power policy categories tracked by Climatescope, including Renewable energy auction, Net metering, Import tax incentives, VAT incentives, Renewables mandate, and Renewable Energy Certificates.
The average electricity price in Colombia has increased from 145.87 USD/MWh in 2022 to 164.69 USD/MWh in 2023. Since 2017, the average electricity price in Colombia has fluctuated between 118.18 USD/MWh (2017) and 164.69 USD/MWh (2023).
The top amount of capacity installed in Colombia in 2023 was in Large Hydro at 60.25%, down from 60.61% in 2022. The technology with the biggest increase in capacity installed in 2023 was Oil & Diesel at 8.79%, up from 6.58% in 2022.
The top amount of electricity generated in Colombia in 2023 was in Large Hydro at 68.17%, down from 76.19% in 2022. The technology with the biggest increase in electricity generated in 2023 was Coal at 9.37%, up from 4.52% in 2022.
Investment in clean energy in Colombia was around $410.19 million in 2023, a decrease of 72.96% from 2022 ($1,516.90 million). Between 2018 and 2023, the highest investment in clean energy was in 2022 at $1,516.90 million, while the lowest was in 2020 with $143.44 million.
Which segments of the power sector are open to private participation?
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Are other PPAs (eg. corporate PPAs) signed in or indexed to U.S. Dollars or Euro?
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Can a C&I (Commercial and Industrial) customer sign a long-term contract (PPA) for clean energy?
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Does the government keep the wholesale price of electricity from fossil fuels artificially low through subsidies?
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Does the government significantly increase the wholesale price of electricity from fossil fuel through targeted taxes and/or carbon prices?
For more information on best practices and climate action, explore the NetZero Pathfinders project by BloombergNEF.