With three auctions, the Creg secured the energy needed in Colombia to avoid rationing between 2025 and 2028.
Following the closing of three auctions held since last year, the Energy and Gas Regulatory Commission (Creg) confirmed that it had secured the electricity needed to meet Colombian demand between 2025 and 2028.
All bids submitted in the three auctions were awarded Firm Energy Obligations (FEOs) to 19 companies representing 36 plants.
Specifically, these are three new solar projects to be built in Tolima, Sucre, and Norte de Santander. The remaining plants are either existing or under construction.
Tepuy Solar Park Photo: EPM
According to energy market operator XM, the following amounts were allocated in the three purchase auctions held between the end of April and the beginning of May:
For the 2025–2026 period:- The plants that received allocations for this period must deliver their energy between December 1, 2025, and November 30, 2026.
- 24 plants were assigned, of which 23 are existing plants and one solar plant under construction (Urrá solar park).
- Of the 23 existing plants, 11 are hydroelectric, five are thermal, and seven are solar.
- 7.59 gigawatt-hours of OEF were allocated, of which 3.27 gigawatt-hours are hydro, 1.82 gigawatt-hours are thermal, and 2.50 gigawatt-hours are solar.
- This OEF allocation is in addition to the 230.91 gigawatt-hours previously allocated, for a total of 238.50 gigawatt-hours committed for this term.
- The closing price was $21.3 per megawatt hour.
Photo: iStock
- The plants that received allocations for this period must deliver their energy between December 1, 2026, and November 30, 2027.
- 26 plants were assigned, of which 22 are existing and four are solar parks under construction (Urrá, Guayepo III, Shangri-la and Puerta de Oro).
- Of the 22 existing plants, 10 are hydroelectric, five are thermal, and seven are solar.
- 6.39 gigawatt-hours of OEF were allocated, of which 1.46 gigawatt-hours are hydro, 0.79 gigawatt-hours are thermal, and 4.14 gigawatt-hours are solar.
- This OEF allocation is in addition to the 236.20 gigawatt-hours previously allocated, for a total of 242.59 gigawatt-hours committed for this term.
- The closing price was $21.3 per megawatt hour.
- As established by the Creg, plants under construction with OEF allocation will have incentives to promote their early entry into operation.
Photo: iStock
- The plants that received allocations for this period must deliver their energy between December 1, 2027, and November 30, 2028.
- 24 plants were assigned, of which 13 correspond to existing plants, eight are solar parks under construction (Barzalosa, Bosques Solares de los Llanos 6, Urrá, Atlántico Fotovoltaic, Guayepo III, Shangri-la, Puerta de Oro and Melgar) and three are new solar parks, whose obligations go until 2047 (Solar Escobal 6, Pradera and Andrómeda).
- Of the 13 existing plants, three are hydroelectric, three are thermal, and seven are solar.
- 7.50 gigawatt-hours of OEF were allocated, of which 0.09 gigawatt-hours are hydro, 1.78 gigawatt-hours are thermal, and 5.63 gigawatt-hours are solar.
- This OEF allocation is in addition to the 244.50 gigawatt-hours previously allocated, for a total of 252 gigawatt-hours committed for this term.
- The closing price was $21.3 per megawatt hour.
- Exclusively for this period, new plants without prior OEFs were allowed to participate. In addition, incentives will be provided for early entry of new and under-construction plants.
La Loma Solar Park, Cesar. Photo: Courtesy
Through these purchase reconfiguration auctions, which began in November of last year, the goal is to close gaps between demand projections and firm energy in the electrical system.
“The three purchase reconfiguration auction processes managed by XM were audited by an independent firm (KPMG) to ensure the application of all current regulations during each part of the process and to provide transparency and peace of mind to users and all participants,” added the executive director of the Creg.
These efforts are complemented by the award of commitments for the expansion, which was made in February 2024, for approximately 4,450 megawatts, which are expected to come online by the end of 2027.
Additionally, in March 2025, a proposal was announced to advance a new expansion auction to promote the entry of new projects during the 2029-2030 period and beyond, in order to avoid blackouts and ensure the country has power even during an El Niño event.
eltiempo
