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Mauricio Gómez - The business and financial case for renewables in current energy markets

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LAC Climate Business Forum 2016 in Bogotá, Colombia, June 14-15, 2016.

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Mauricio Gómez - The business and financial case for renewables in current energy markets

  1. 1. The business and financial case for renewables in current energy markets Climate Business Forum June 2016
  2. 2. Electricity demand projections WOE (2014)
  3. 3. WOE (2014) World electricity generation • New capacity is added to replace old plants and meet increasing demand. In the New Policies Scenario, installed capacity worldwide increases by 80%. • To replace the fossil fuel share in the 450 scenario (10,635 TWh), we need to construct 1,945 new plants of 1000 MW and 0.5 plant factor, by week .
  4. 4. Colombia’s energy mix XM (2016)
  5. 5. Levelized cost of electricity LCOE (USD/MWh) Time (Hours) Hydro Renewables Coal Natural Gas Oil
  6. 6. What is CREG working on? • Yearly average Energy • Long term contracts: 20 years • Pay as bid • Base load dispatched • FEO so RC for firm energy • Only for new projects • Reserve price: Average purchase price + RC • Long term contracts: 20 years, or 5 yr term contracts • Annual balance. • Hourly settlements • Monthly payments • Open to regulated & non regulated users.
  7. 7. Thank you www.creg.gov.co mauricio.gomez@creg.gov.co

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