The Energy and Gas Regulatory Commission (CREG) calls for reconfiguration auctions

Machine translation was used to publish the following CREG release

Bogotá, August 12, 2024. The Energy and Gas Regulatory Commission (CREG) in its 1330th session of August 10, 2024, advanced the review of the study of the Firm Energy Supply and Demand balance for the period 2025-2029 and adopted the following decisions in order to ensure reliability in the energy supply in the short, medium and long term:

- Call for a reconfiguration auction for the periods 2025-2026, 2026-2027 and 2027-2028. To this end, a draft resolution will be issued that will include the call for the aforementioned periods.

The draft resolution will include a schedule of activities for the auctions, which will be carried out sequentially. In addition, incentives will be established for the participation of existing plants, existing plants with construction work, special plants under construction and new ones.

The reconfiguration auctions are called while the Mining-Energy Planning Unit (UPME) has updated demand projections.

-Simultaneously with the reconfiguration auctions, move forward in determining an expansion auction for the period 2028-2029 or 2029-2030.

In this way, CREG continues to advance in the actions necessary to ensure the reliable and safe supply of electricity demand.