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Ecuador energy report

Ecuador energy report
3 files (PDF report, 2 Excel files)
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This analysis includes a comprehensive Ecuador 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 target of 90% of renewables in the power mix in 2021 was not reached.
  • CELEC is the main power producer, with almost 75% of the total capacity.
  • Petroecuador absorbed the other state-owned oil company, Petroamazonas, in 2021.
  • Ecuador has the 5th largest proven oil reserves in South America.
  • Hydro accounted for 79% of the power mix in 2021.
  • The government is trying to remove subsidies on gasoline and diesel prices, which are quite low.
  • Electricity prices are largely stable.
  • Oil covers 79% of the country's energy consumption.
  • By 2027, power capacity is expected to increase by around 7%/year, with the addition of around 3 GW of hydropower and 0.6 GW of wind and solar.
share of oil in the total energy consumption
largest proven oil reserves in South America
of hydro in the power mix
  • Institutions & Energy Policy

    The Ministry of Energy and Mines (MEM) is in charge of the country's energy policy. It was created following the 2018 merger of the Ministry of Electricity and Renewables, the Ministry of Hydrocarbons, and the Ministry of Mining.

  • Energy Companies


    The natural gas market is less developed than the oil sector. Natural gas is mostly used by the industry sector. Petroecuador took control of the Amistad gas field in 2010 after the refusal of Noble Energy Inc. (NBL) to change its production-sharing contract to a new service agreement.

  • Energy Supply


    The country's marketed gas production is low (0.4 bcm in 2022) and it has one of the highest venting and flaring rates in the world (60% of gross production in 2022). Natural gas is produced from the Amistad field in the Golf of Guayaquil.

  • Energy Prices


    The prices of electricity are US$10.4c/kWh for households and US$7.8 for industrial customers (2022). These prices have remained roughly stable since 2020. They are much lower than in neighbouring countries (around 45% cheaper than in Colombia).


  • Energy Consumption

    Per capita energy consumption is around 0.86 toe, a level 34% below the South American average (2022). Per capita electricity consumption is approximately 1 500 kWh.

  • Issues & Prospects


    In its Electricity Master Plan 2018-2027, Ecuador estimated that its power capacity should increase by 4 GW by 2027 to face a 7%/year increase in electricity demand. These figures could reach 5 GW and 10%/year, respectively, in the prospective scenario of basic industrialisation (aluminium, copper, petrochemical).

  • 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 Ecuador energy market data since 1990 and up to is included in the Excel file accompanying the Ecuador 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.
  • Ecuador Energy Prices: In addition to the analysis provided on the report we also provided a data set which includes historical details on the Ecuador 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).