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Colombia energy report

Colombia energy report
3 files (PDF report, 2 Excel files)
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This analysis includes a comprehensive Colombia energy market report and updated datasets. It is derived from the most recent key economic indicators, supply and demand factors, oil and gas pricing trends and major energy issues and developments surrounding the energy industry. The report provides a complete picture of the country situation, dynamics, current issues and future prospects. With market data and continuous follow-up of markets news, this report brings clear and concise insights with which to tackle national energy challenges and opportunities. Browse the tabs below for a detailed table of contents, the list of graphs and tables, and details on the data files.


  • The country targets to cut GHG emissions by at least 52% in 2030 compared to a BAU scenario.
  • Three companies hold 60% of the power capacity.
  • The public company Ecopetrol dominates the oil and gas sectors.
  • Two companies, Drummond and Cerrejón, account for almost 90% of the coal production.
  • Hydroelectricity accounted for 72% of the power mix in 2022.
  • Oil production increased slightly in 2022 (3%) for the first time since the pandemic (-12% in 2020)
  • Coal exports have decreased by 40% since 2017.
  • The prices of electricity vary according to the regions. They have been largely stable since 2016.
  • Total energy consumption increased by 4% in 2022.
  • Oil dominates the energy mix (47%) with an increasing share (+10 points since 2010).
  • The residential sector is the largest electricity consumer.
  • The National Energy Plan 2022-2050 foresees 19 GW of non-conventional renewable capacity by 2050.
  • A second LNG regasification terminal is planned.
largest coal exporter in the world
+4 GW
of hydro capacity since 2010
reduction in GHG emissions by 2050
  • Institutions & Energy Policy

    The energy sector is under the responsibility of the Ministry of Mines and Energy (MME). UPME (Mining and Energy Planning Unit) is a special administrative unit of MME in charge of coordinating the planning of the sector.

  • Energy Supply


    Colombia owns large energy resources. Proven oil reserves amount to 289 Mt and gas reserves to 90 bcm (end of 2022). At 4.6 Gt, the country's coal reserves are also very large. The economic hydroelectric potential is estimated at 140 TWh/year. The country's wind energy potential is high (over 14 GW, according to World Bank, especially on its north coast).

  • Energy Prices


    The prices of gasoline and diesel decreased by 30% and 8% in 2022 to US$0.60/l and US$0.58/l, respectively. A 2008 decree established a fund for the stabilisation of the fuel prices charged to final consumers (FEPC), which has accumulated a large amount of money due to relatively high prices in the country.

  • Energy Consumption

    Per capita consumption is around 0.85 toe, including 1 400 kWh of electricity (2022).

    Total energy consumption increased by 2.4% in 2022 to 44.2 Mtoe, after a 6.4% drop in 2020 and a 7.7% recovery in 2021. Previously, it had fluctuated around 39-44 Mtoe between 2015 and 2019.


  • Issues & Prospects

    According to the National Energy Plan 2020-2050, energy demand will increase by 21% to 28% by 2050, with electricity and gas consumption increasing faster than oil consumption. Most of the electricity consumption rise will be linked to an increasing use of wind and solar technologies.

  • GRAPH 1: CO2-energy emissions (MtCO2)
  • GRAPH 2: Installed electric capacity by source (2022, %)
  • GRAPH 3: Gross power production by source (TWh)
  • GRAPH 4: Power generation by source (2022, %)
  • GRAPH 5: Gasoline & diesel prices (US$/l)
  • GRAPH 6: Electricity prices for industry and households (US$c/kWh)
  • GRAPH 7: Consumption trends by energy source (Mtoe)
  • GRAPH 8: Total consumption market share by energy (2022, %)
  • GRAPH 9: Final consumption market share by sector (2022, %)
  • Economic Indicators: Annual historical data including population, GDP growth, imports and exports, inflation rate, energy security and efficiency indicators, CO2 emissions.
  • Supply Indicators: Historical data including oil and gas reserves, electric and refining capacity, energy production, power production and external trade. All are detailed by energy source.
  • Demand Indicators: Historical data including consumption per inhabitant, consumption trends, total consumption by energy source, final consumption by energy source and sector, and electricity consumption by sector.
  • Energy Balances: Single table displaying the overall energy industry balance per annum, also graphically displayed by energy sub-segment.
  • Infrastructure Projects: Covers power plant projects by energy, technology, status and operator.

The Colombia energy market data since 1990 and up to is included in the Excel file accompanying the Colombia country report.
It showcases the historical evolution, allowing users to easily work with the data.

Key Data included in the excelsheet:

  • Economic indicators: Annual historical economic indicators, energy security, energy efficiency and CO2 emissions.
  • Supply indicators: Annual historical reserves, capacity, production and external trade (imports(+) exports(-) balance).
  • Demand indicators: Annual historical consumption per capita, consumption trends, total consumption, final consumption (per energy and per sector) and electricity consumption total and per sector.
  • Energy Balance: total and per energy.
  • Colombia Energy Prices: In addition to the analysis provided on the report we also provided a data set which includes historical details on the Colombia energy prices for the follow items: price of premium gasoline (taxes incl.), price of diesel (taxes incl.), price of electricity in industry (taxes incl.), price of electricity for households (taxes incl.), price of natural gas in industry (taxes incl.), prices of natural gas for households (taxes incl.), spot price of Brent and CO2 emissions (from fuel combustion).