COLOMBIA · ENERGY
Key Facts
- —What is happening At a business forum on Wednesday, 21 October, Enel Colombia’s manager said El Niño will push power bills up, and the head of Grupo Energía Bogotá said imported gas could cost US$25 to US$30 per million BTU.
- —Why it matters The system has little spare energy, reservoirs are below normal for the season, and Ortega says gas import contracts were never signed, so backup power is costlier for homes and firms.
- —The numbers Only 380 MW of the 3,500 MW of new capacity expected for 2025 entered service, about 10%. Gas that historically cost US$5 per million BTU may reach US$25 to US$30.
- —Who is who Bruno Riga runs Enel Colombia, Juan Ricardo Ortega leads Grupo Energía Bogotá (GEB), and Juan Esteban Hincapié Rivera is chief executive of the solar developer Erco Energía.
- —What to watch Whether regulators or ministers answer with tariff measures, whether Congress passes the blackout bill, and how fast reservoirs fall into December.
- —Power Index Colombia ranks 6th of 14 in The Rio Times Latin America Power Index, with 51.9 points (October 2026 edition).
- —What it means for you US travellers, retirees and companies in Colombia should expect higher power bills, with the strain greatest on the hot Caribbean coast, where air conditioning is heavily used.
Three Colombia power chiefs spoke on 21 October, and the head of Enel Colombia said bills will rise. The head of Grupo Energía Bogotá warned that imported gas could cost five to six times its old price.
Colombia power chiefs spoke on 21 October at a forum run by the business daily La República, as El Niño tightens supply. Enel Colombia’s Bruno Riga said bills will rise, while Grupo Energía Bogotá’s Ortega said gas may reach US$30.
The gas figure is five to six times the US$5 that Grupo Energía Bogotá president Juan Ricardo Ortega called the historical price. It matters to US investors and companies in Colombia, whose power costs now depend on both rainfall and imported fuel.
What the Colombia Power Chiefs Said
Bruno Riga, general manager of Enel Colombia, the local arm of Italy’s Enel, said the sector’s main worry is the bill. Scarce energy has lifted spot prices, and he said bills will go up.
Juan Esteban Hincapié Rivera, chief executive of the solar developer Erco Energía, said the system has lost its cushion. No energy is spare now, he said, because demand grew faster than expected.
Ortega, president of GEB, a Bogotá-controlled transmission and gas group, said Colombia failed to build projects to rely less on water. He called the gas shortfall “a historic error, not a matter of chance.”
Why Gas Is the Weak Point
Ortega said gas-import (regasification) contracts that should have been signed between June and October 2025 were never signed. He called it “inexplicable and unacceptable” and said the country was left without gas.
That leaves Colombia exposed to a costly world market, he said, shaped by the European winter, the Iran war and Hormuz tension. On 25 September the Rio Times reported gas rationing after a Cartagena terminal fault.
Portafolio reported on Monday, 19 October, that state oil company Ecopetrol declared void its tenders for five-year liquefied natural gas supply. Sector expert Julio César Vera told the paper imported gas trades near US$25 per million BTU and could reach US$30.
The Colombia Power Capacity That Never Arrived
Riga said 3,500 MW of new capacity was expected in 2025, but only 380 MW entered service, about 10%. He said the main problem is execution, not potential.
Ortega said Colombia also lost the chance to add over 2.5 GW in La Guajira, where prices were “incredibly good.” He added that the Chinú substation, vital for the north, is already over capacity.
Hincapié said households and industry will electrify faster because gas and other fuels are short, so demand will keep growing. He called for price incentives for industry and for solar paired with batteries.
The El Niño Backdrop
The weather agency IDEAM declared El Niño on Thursday, 8 October, Vanguardia reported. It sees an 83% chance of a strong or very strong event until March 2027, with a record Pacific anomaly of +3.49°C.
Ortega cited sea anomalies of up to 6°C, against 3.7°C in earlier events, which he said drives air-conditioning use. That differs from IDEAM’s figure, and the report does not say which measure he used.
Riga said El Niño does not end in March or April, because reservoirs must then recover. Thermal plants must keep running to save reservoir water, which keeps costs high.
What It Means for US Readers
US companies with plants, offices or hotels in Colombia should budget for higher power costs. Residents and visitors on the Caribbean coast, including Cartagena and Barranquilla, may face higher bills and grid strain.
Investors in Colombian utilities should watch who pays, as the Finance Minister’s blackout bill shows. The Rio Times has also covered the projected energy deficit, delayed dam repairs and GEB’s US$126 million debt raise.
Wider background is in the Colombia hub. It gathers recent coverage of the economy, energy and politics.
What Is Not Known
The sources give no tariff figure, no date for any increase and no reply from the government or the regulator CREG. Riga’s warning is a statement of direction, not a forecast of a specific percentage.
Only La República, which ran the forum, reported the executives’ remarks, and no other outlet was found. The US$25 to US$30 gas price is Ortega’s projection, supported only by an expert quoted by Portafolio, not a contract price.
What Comes Next
No date is set for a tariff decision, so the next signals are reservoir levels, gas deliveries and the regulator’s response. Congress has yet to pass the blackout bill that the Finance Minister asked the Senate to speed up on 20 October.
The warnings do not mean blackouts are scheduled, and none of the three executives gave a date or probability for one. They said the system could reach its limit if rainfall and reservoir inflows come in below expectations.
Frequently Asked Questions
Will Colombian electricity bills rise because of El Niño?
Enel Colombia general manager Bruno Riga said on 21 October that bills will rise. No percentage or date was given.
How much could imported gas cost in Colombia?
Grupo Energía Bogotá president Juan Ricardo Ortega said US$25 to US$30 per million BTU, against a historical US$5. That is his projection, not a contract price.
Why does Colombia have so little spare power?
Riga said only 380 MW of the 3,500 MW expected in 2025 came online. Demand also grew faster than planned, said Erco Energía chief Juan Esteban Hincapié Rivera.
Has El Niño been declared in Colombia?
Yes, the weather agency IDEAM declared it on Thursday, 8 October. It sees an 83% chance of a strong or very strong event until March 2027.
Does this mean blackouts in Colombia?
No date or probability for blackouts was given. The executives said the system could reach its limit if rainfall and reservoir inflows disappoint.
Sources: La República, Foro LR “Colombia ante El Niño”, 21 October; Vanguardia, IDEAM declaration, 8 October; Portafolio, Ecopetrol LNG tenders, 19 October (all accessed 22 October 2026).
This article was produced by The Rio Times’ automated newsroom system. How we use AI · Report an error · Editorial responsibility: Matthias Camenzind, Editor-in-Chief