Energy Alert In Colombia

The Gas and Energy Regulatory Commission (CREG) issued Resolution 217 of 1997 or "Rationing Statute" by means of which it establishes the conditions and procedures that must be adopted by all agents of the electric energy sector in case that an energy rationing becomes necessary in Colombia.

Such conditions and procedures refer, among others, to the following : (i) parameters for the declaration of electric energy supply rationing ; (ii) measures and procedures that must be followed in order to handle and surpass such situation ; (iii) rationing percentage applicable to the different final consumers ; (iv) determination of the electric energy pool prices during rationing periods ; and (v) possibility of self-generators, co-generators and generators with low generation capacity to offer their surplus of energy in the energy pool while the rationing period lasts.