Colombia pushes back standby power auction

Colombian power sector regulator Creg has postponed an auction for standby energy by three months in a bid to drum up interest among investors.

Interested participants will now have until February 15 to present bids, with the winners slated to be announced the following day, according to documents published by auction administrator XM on Wednesday.

Expressions of interest must be made by November 24 and a January 18 deadline was set for the payment of guarantees. 

"As administrators of the auction, we share Creg's decision to extend the schedule of the fourth auction for the assignment of firm energy obligations to enable a greater participation of bidders," said XM's wholesale manager, Cecilia Maya. 

The auction, which will offer standby electricity supply contracts that run from December 1, 2027 to November 30, 2028, is open to existing plant operators and developers of new projects.

Creg's decision marks the second time the auction has been pushed back. The original mid-August bid deadline was extended to November 14 after generators Gecelca and Tebsa requested more time to prepare their offers. 

More information can be seen here, in Spanish.