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Colombia moves to tackle surging energy prices
Bnamericas
Published: Monday, February 06, 2023
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Colombia moves to tackle surging energy prices
Colombian energy sector regulator Creg has published a draft resolution that aims to mitigate the impact of rising wholesale electricity prices.

It includes a proposed new formula for prices offered on the spot market for short-term contracts.

More information, can be seen here, in Spanish.

The move forms part of wider efforts to tackle spiraling electricity prices in the Andean country, which rose faster than the 13.1% annual inflation rate last year.

Colombia currently uses both the producer price index (PPI) and consumer price index (CPI) to calculate reference electricity rates.

Creg also published a draft resolution designed to tighten industry oversight.