Colombia announces $855 million package to reduce blackout risk — The Rio Times

The Colombian government announced a package worth 2.7 trillion Colombian pesos, or about $855 million, to reduce the risk of power outages during El Niño. The plan provides for financing energy companies, increasing gas imports, changes to the operation of the Ituango dam, and incentives for consumers who save electricity, The Rio Times reports.

Part of the funding requires approval

Of the announced amount, the government is asking Colombia’s Congress to fast-track 1.2 trillion pesos, approximately $380 million, from the 2026 budget. Another 1.5 trillion pesos, or about $475 million, has already been committed to the needs of the energy sector.

Presidential spokesperson Miller Soto also announced plans to increase the capacity of the gas import terminal in Cartagena by 58 billion British thermal units per day. Separately, the authorities plan to provide technical flexibility for the operation of the Ituango dam in the Antioquia department. The president set December 31, 2026, as the deadline for the main measures.

More current news is available on the UA.News Telegram channel Telegram.

Low water levels and more expensive thermal generation

Colombia’s meteorological institute IDEAM declared El Niño on October 8 and estimated an 83% probability that the phenomenon would remain strong or very strong at least until March 2027. El Niño typically brings drier weather to Colombia, creating additional pressure on the country’s hydropower sector.

According to energy market operator XM, reservoirs held 76.5% of their usable water capacity on October 23, 2026, compared with 83.4% a year earlier. The share of thermal power plants in electricity generation reached 38.8% on October 21, versus 9.7% a year earlier. In September, the average spot electricity price rose 126% year-on-year to 688 pesos per kilowatt-hour.

Discounts for energy-saving consumption

Under the conservation program, consumers who reduce electricity use by more than 10% below their individual target level may receive a discount on their bills. Those who exceed the target by more than 10% will pay a surcharge. Energy regulator CREG reported that 81.4% of 5.2 million consumers in markets covered by reporting saved electricity or did not exceed the set limit.