COLOMBIA · ENERGY
Key Facts
- —The country Colombia, a producer of oil, coal and gas, relies on reservoirs and thermal plants for electricity and is heading into an El Niño dry spell.
- —Why it matters A Colombia blackout would hit homes, factories and visitors, and the bill tests whether the new government can pay for grid fixes through Congress.
- —Why now Finance Minister Miguel Gómez Martínez asked the Senate on Tuesday 20 October 2026 to speed up a bill that is filed but not yet approved.
- —What happened Gómez said the government is determined to avoid a blackout and needs Congress, as the COP 1.2 trillion (about US$380 million) bill awaits a vote.
- —The numbers At 3,156.32 pesos per dollar, the official rate for 20 October, the bill is worth US$380 million, and Air-e owed generators over COP 1.7 trillion (about US$539 million) in July.
- —What it means for you US investors in Colombian assets and travellers planning December to April trips should watch the vote, as El Niño may tighten supply in that window.
- —Still open Whether the money goes to electricity subsidies, as the Tuesday coverage says, or to Air-e debts to generators, as the September bill text says.
- —Power Index Colombia ranks 6th of 14 in The Rio Times Latin America Power Index, with 51.9 points (October 2026 edition).
Colombia’s finance minister asked the Senate on Tuesday 20 October 2026 to speed up a COP 1.2 trillion bill (about US$380 million) that the government says is meant to prevent a blackout. The Colombia blackout bill is filed but not yet approved, Portafolio reported.
For US readers the stakes are reliability and cost, because American investors hold Colombian bonds and shares, including New York-listed Ecopetrol, and a Colombia blackout would hit factories, hotels and visitors alike. Semana reported that the minister called the cost of any curb on generation “gigantic”, although the ministry gave no date or probability for an outage.
Our earlier reports covered the strain on the grid, from the rationing warning in Colombia Power Rationing Risk Is Rising to the shortfall in Colombia Energy Deficit May Hit 7,669 GWh. The focus here is the money, and a gap in how the bill is described.
What Minister Gómez Told the Senate
Miguel Gómez Martínez, finance minister in the government of President Abelardo de la Espriella, spoke to the Senate plenary during a political-control debate on the gas-sector crisis. El Heraldo placed the session on Tuesday 20 October, and Semana and Portafolio carried his request late that night.
He said the government is “determined to avoid the blackout” and will do what is within its reach, but “needs the support of Congress”. These are our translations of his Spanish words as quoted by Portafolio and El Heraldo.
Portafolio and El Heraldo reported that he asked lawmakers to speed approval of a budget addition of COP 1.2 trillion (about US$380 million), already filed by the government. Semana added that the bill carries an urgency message and is meant to go through the joint economic committees of the Senate and House.
Portafolio noted that the ministry set no date for a possible blackout and offered no estimate of how likely one is. The minister first announced an urgent bill of this size on Wednesday 9 September, saying the purpose was to stop the country going dark during El Niño.
What the Colombia Blackout Bill Pays For
The Tuesday reports describe the COP 1.2 trillion as money for electricity subsidies, which cover part of the power bill for lower-income users. Portafolio, Semana and El Heraldo all use that description.
El Heraldo’s account of the bill on 29 September describes something different, a transfer of COP 1.2 trillion from the 2026 budget to Superservicios, the public-utilities superintendency. The money would go straight to power generators, mainly thermal plants, to cover debts of Air-e, the state-intervened utility of Colombia’s Caribbean coast.
That report said COP 750 billion (about US$238 million) would come from a public-transport investment line and COP 450 billion (about US$143 million) from the electricity-subsidy appropriation. Dollar values here use the official rate of 3,156.32 pesos per dollar for 20 October 2026.
El Heraldo added that the Mines and Energy Ministry said the transfer would not affect 2026 subsidies for households in tiers 1 to 3, and that it does not raise the total 2026 budget. The two descriptions may refer to one bill, since the amount, the minister and the urgency match, but the sources reviewed do not reconcile them.
Why a Utility Debt Worries the Grid
Air-e serves about 1.4 million users in Atlántico, Magdalena and La Guajira and accounts for 11.1% of demand on the national grid, according to the bill’s explanatory text as El Heraldo reported it. In July 2026 its obligations to thermal plants exceeded COP 1.7 trillion (about US$539 million) and were growing by more than COP 100 billion (about US$32 million) a month.
The market administrator reported COP 4.06 trillion (about US$1.29 billion) in obligations across the power system on 21 August, of which 57.6% was owed to generators. The bill text warns that the debt grew more than sixfold in under two years and could spread along the payment chain.
On 8 September the energy minister, María Nohemí Arboleda, told Congress that the Air-e debt had left some companies in deficit and that unpaid subsidies would add stress. She said 2026 subsidies were fully covered, while 2027 subsidies needed about COP 6.01 trillion (about US$1.90 billion) against COP 1.43 trillion (about US$454 million) in the draft budget.
El Niño and the Strain on Supply
Semana reported that demand has risen 14% since April, while delays in generation and transmission projects and slow refilling of reservoirs add to the strain. Limits on fuel supply to thermal plants are a further constraint, Semana said.
Portafolio reported on 20 October that El Niño may weigh on supply between December 2026 and April 2027, and that grid operator XM and analysts have warned of stress. The regulator CREG has set a temporary saving programme, and its preliminary count shows eight in ten users cut or held their consumption, Semana reported.
Under the programme, users above 110% of their consumption target face an extra charge of 30% in tiers 1 to 3, 50% in tiers 4 to 6 and 70% for commercial and industrial sites. Colombian tiers rank homes and neighbourhoods from 1, the poorest, to 6, the richest.
Gas Imports Add to the Bill
Gómez used the debate to argue for more oil and gas exploration, saying that leaving oil and gas in the ground makes Colombians poorer. Semana quoted ministry figures showing gas imports rising from US$135 million in 2018 to US$960 million in the first half of 2026.
Imported gas costs 130% to 135% more than local gas because it needs liquefaction and regasification, the ministry said. It projects that imports could cover 40% of national gas demand by 2028, as local output falls from 798 to 713 giga British thermal units a day.
A Budget Vote Under Challenge
Congress passed the 2027 national budget of COP 634.9 trillion (about US$201 billion) in a session that ran into the early hours of 20 October, with COP 3 trillion (about US$950 million) for electricity and gas subsidies, El Heraldo reported. On 21 October the same outlet reported that Senator Esmeralda Hernández of the Pacto Histórico, the left-wing party of former President Gustavo Petro, alleges a procedural flaw in that vote.
Hernández says the House added two paragraphs to article 65 that the Senate had not debated and that the legal deadline ran out that Tuesday, while Senator Carlos Meisel replied that the Senate vote had no flaw. Senator Enrique Gómez of the governing camp said the budget “did not fall” and would be adopted by decree on the text the joint economic committees approved, and we found no ruling on the dispute.
What It Means for You
Investors in Colombian assets should watch whether Congress treats the bill as urgent, because the dispute touches utility payments, the 2027 budget and gas costs. The finance ministry also says dearer imported gas adds to consumer inflation, which matters for peso bonds.
Visitors and residents face no announced outage date, but a dry spell from December to April may bring saving rules and higher bills for heavy users. Our report Colombia Declares El Niño as Power Prices Rise 126% and our Bogotá expat city guide cover the practical side.
Readers new to the country can find the main actors in Who Dominates Colombia, Elites and Regions Explained and Colombia Politics Explained, Who Holds Power in 2026. The finance minister serves the government of President Abelardo de la Espriella, who succeeded Petro.
What Is Not Known
The sources reviewed do not say whether the Tuesday request is the same bill that El Heraldo described on 29 September, or whether its purpose is subsidies or Air-e debts. They also do not say which year’s subsidies the money would cover, or how it relates to the COP 3 trillion set aside for subsidies in the 2027 budget, whose own approval is now disputed.
It is not known when the joint economic committees will vote or whether lawmakers will change the amount. The ministry gave no outage date and no probability, so the Colombia blackout risk stays an official concern rather than a forecast.
We could not open the bill text or a ministry statement, so the purpose of the money rests on local press reports that differ. The next committee agenda or a ministry clarification would settle it.
Frequently Asked Questions
What did Colombia’s finance minister ask for on 20 October?
He asked the Senate to speed approval of a COP 1.2 trillion bill (about US$380 million) filed by the government. He said the government is determined to avoid a blackout.
What is the money for?
Tuesday’s reports describe electricity subsidies, while El Heraldo’s September account of the bill describes payments of Air-e debts to power generators. The sources reviewed do not reconcile the two descriptions.
Is a Colombia blackout scheduled?
No outage date has been announced, and the finance ministry gave no estimate of the chance of a Colombia blackout. Officials and analysts warn of supply stress, mainly between December 2026 and April 2027.
What is Air-e?
Air-e is the utility serving about 1.4 million users in Atlántico, Magdalena and La Guajira, under state intervention since 2024. Its unpaid bills to thermal plants exceeded COP 1.7 trillion (about US$539 million) in July 2026.
What does it mean for US readers?
It shows how a funding fight in Congress can touch power supply, utility finances and gas costs in a market where US investors hold bonds and shares. Visitors face no announced outage date.
Sources: Portafolio, 20 October 2026; Semana, 20 October 2026; El Heraldo, 21 October 2026; El Heraldo, 29 September 2026; El Heraldo, 9 September 2026; El Heraldo, 8 September 2026; El Heraldo, 20 October 2026; El Heraldo, 21 October 2026; El Heraldo, 21 October 2026 (decree); Semana, 16 October 2026; Portafolio, 20 October 2026; Official representative market rate (TRM), open data of the Colombian government.
Editorial responsibility: Matthias Camenzind, Editor-in-Chief · Editorial standards · Report an error