Colombian government will reform the governance of the electricity wholesale market

The Colombian Minister for Planning, Luis Fernando Mejía, announced today that there is a clear need to reform Colombia’s energy market to respond to new market challenges, reduce the costs of regulation and improve regulatory impact. The Minister’s announcement endorses the conclusions of a recent Frontier study for the Ministry of Planning. The announcement came at the Wholesale Electricity Market Congress taking place at Cartagena de Indias, Colombia. Fernando Barrera, Director in Frontier’s Energy Practice, also presented the findings of Frontier’s study at the same Congress.

Frontier’s analysis proposed restructuring the internal organisation of the Colombian Energy and Gas market regulator (Comisión de Regulación de Energía y Gas, CREG); creating an Independent System Operator; and introducing market manipulation standards and improved market monitoring.

Frontier regularly advises private and public sector organisations in the energy sector both in Latin America and other parts of the world.

For more information, please contact Julia Caldano on j.caldano@frontier-economics.com, or call +34 91 343 2350.

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Related Sectors:
Energy
Related Disciplines:
Regulation