Latin America
With a power score of 1.71, Ecuador ranks number 74 among Emerging Markets and number 15 in the Latin America region
Power score
1.71/5
Score over time
2021 - 2024
Ecuador has a power score of 1.71, which puts it at rank 74 in the Emerging Markets power ranking. In comparison to 2023, Ecuador has dropped in the power rankings by 8 places, from rank 66, to rank 74.
At 1.71, the power score of Ecuador is worse than than the regional average of 1.93 in the Latin America region and puts it at rank 15 in the region.
Ecuador implements policies in 7/9 power policy categories tracked by Climatescope, including Renewable energy target, Renewable energy auction, Net metering, Import tax incentives, VAT incentives, Priority grid access, and Renewable Energy Certificates.
The average electricity price in Ecuador has dropped from 95.57 USD/MWh in 2022 to 95.37 USD/MWh in 2023. Since 2017, the average electricity price in Ecuador has fluctuated between 95.07 USD/MWh (2021) and 100.13 USD/MWh (2017).
The top amount of capacity installed in Ecuador in 2023 was in Large Hydro at 50.89%, down from 51.63% in 2022. The technology with the biggest increase in capacity installed in 2023 was Onshore wind at 0.78%, up from 0.24% in 2022.
The top amount of electricity generated in Ecuador in 2023 was in Large Hydro at 63.22%, down from 64.42% in 2022. The technology with the biggest increase in electricity generated in 2023 was Natural Gas at 3.74%, up from 3.09% in 2022.
Investment in clean energy in Ecuador was around $ million in 2023, a decrease of 100% from 2022 ($2.00 million). Between 2018 and 2023, the highest investment in clean energy was in 2019 at $106.00 million, while the lowest was in 2022 with $2.00 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.