2024-09-20 17:42:15
Amid the drought affecting several regions of the country, Ecopetrol has announced the temporary suspension of natural gas supplies to a group of companies, with the aim of prioritizing the generation of electricity through thermal plants.
This measure responds to the need to guarantee the country’s energy security, affected by the prolonged lack of rain.
The companies affected by this decision are those that signed conditional firmness contracts (CFC) with Ecopetrol, which means that they would receive gas supplies only in the absence of a shortage contingency. Currently, this contingency has materialized due to the weather situation. Companies with gas purchase option contracts (OCG), which have special insurance in case of shortage, will continue to receive their supply as usual.
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Before the contingency, Ecopetrol was delivering 46.6 GBTUD (Gigabritish Thermal Units per day) of gas to 13 companies with CFC contracts and 32.1 GBTUD to companies with OCG contracts. According to the company, the measure adopted is based on Resolution 186 of 2020 of the Energy and Gas Regulatory Commission (CREG), which regulates the supply of natural gas in the Colombian wholesale market.
In addition, the company has reduced its own gas consumption in its operations, prioritizing supply to the most affected regions.in compliance with current regulations and contractual terms.
The current “likely shortage” condition is due to the fact that the price on the energy exchange has reached or exceeded 95% of the shortage price, which triggers these preventive measures.
This announcement highlights the challenges Colombia faces in terms of energy and resource supply during extreme weather conditions, as authorities and companies seek to balance gas supply with the country’s energy needs.
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