Latin America
With a power score of 1.96, Uruguay ranks number 51 among Emerging Markets and number 11 in the Latin America region
Power score
1.96/5
Score over time
2021 - 2024
Uruguay has a power score of 1.96, which puts it at rank 51 in the Emerging Markets power ranking. In comparison to 2023, Uruguay has dropped in the power rankings by 23 places, from rank 28, to rank 51.
At 1.96, the power score of Uruguay is better than than the regional average of 1.93 in the Latin America region and puts it at rank 11 in the region.
Uruguay implements policies in 7/9 power policy categories tracked by Climatescope, including Renewable energy auction, Feed-in tariff, Net metering, Import tax incentives, VAT incentives, Priority grid access, and Renewable Energy Certificates.
The average electricity price in Uruguay has increased from 175.10 USD/MWh in 2022 to 193.95 USD/MWh in 2023. Since 2017, the average electricity price in Uruguay has fluctuated between 154.55 USD/MWh (2020) and 220.64 USD/MWh (2017).
The top amount of capacity installed in Uruguay in 2023 was in Large Hydro at 30.45%, down from 30.64% in 2022. The technology with the biggest increase in capacity installed in 2023 was Small-scale PV - commercial at 2.14%, up from 1.75% in 2022.
The top amount of electricity generated in Uruguay in 2023 was in Wind at 44.48%, up from 36.8% in 2022.
Investment in clean energy in Uruguay was around $ million in 2023, a decrease of 100% from 2022 ($10.00 million). Between 2018 and 2023, the highest investment in clean energy was in 2020 at $864.90 million, while the lowest was in 2018 with $6.79 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.