Colombia's firm energy auction pushed to Feb 2024

Colombia’s power and gas regulator CREG has pushed the date of the reliability charge auction to February 15, 2024, to enable greater participation in the event aimed at gathering bids for the firm supply of electricity, including wind and solar, in 2027-2028.

The news of postponement was announced on Wednesday by Colombian grid operator XM, which is also the administrator of the auction.

XM said that, despite the date change, bidders’ obligation to supply firm electricity from December 1, 2027 and finalise on November 30, 2028, remains unchanged.

This is the second time that CREG postpones the reliability charge auction, launched in mid-February this year. The event was initially scheduled for August 16, 2023. In May, CREG moved the auction to November 14, 2023, citing the need for greater participation, competition and sufficient offers for the maximum amount of firm energy.

Colombia’s reliability charge auctions award firm energy obligations, or OEFs, to power generators, which commit to provide continuous service during droughts or critical periods for the electricity system.

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