In the period from January to October 2019, electricity demand grew by almost 4.5% compared to the same period in 2018. This is explained mainly by the higher consumption from regulated customers during Q1 2019. In contrast, the consumption of unregulated customers moderated due to certain factors that affected mining production within the same trimester. The current pace of growth of total demand doesn’t allow current levels of excess installed capacity of generation to reduce quickly. 

As a result of this excess installed capacity, competition between electric power suppliers to capture new customers has intensified. In consequence, the prices for these customers have dropped and reached levels between US$ 25 y US$30 per Mwh. 

Moving forwards, the market will stay in a phase of readjustment. In a context of moderate growth of electricity demand, a gradual increase of the electricity price is expected over the next four years. This will allow studies about the execution of large-scale power generation projects to be resumed. The main projects identified are linked to renewable energy (mini-hydroelectric, wind and solar power plants), and it’s likely that hydroelectric power generation projects will also be resumed, altogether representing a potency of almost 870 MW).