Ecuador energy report

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 2019 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.

Ecuador energy report
April 2021
3 files (PDF report, 2 Excel files)
27 (Report only)

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  • The country targets 90% of renewables in its power mix in 2021 and 100% of electric vehicles for new urban public transport vehicles from 2025.
  • CELEC is the main power producer, with 75% of the total capacity.
  • The two state-owned oil companies, Petroamazonas and Petroecuador, merged in 2021.
  • Ecuador has the 3rd largest proven oil reserves in South America.
  • Hydro accounted for 76% of the power mix in 2019.
  • The government is trying to remove subsidies on gasoline and diesel prices, which are quite low.
  • Oil and electricity prices are largely stable.
  • Oil covers 81% of the country's energy consumption.
  • By 2027, power capacity is expected to increase by around 7%/year, with approximately 3 GW of hydropower and 600 MW of wind and solar.


share of oil in the total energy consumption (2018)


largest proven oil reserves in South America


of hydro in the power mix (2018)


  • Institutions & Energy Policy

    The Ministry of Energy and Natural Non-Renewable Resources (MERNNR) 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


    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 has proven oil reserves of 1 100 Mt (3rd largest in South America), proven gas reserves of 11 bcm and proven coal reserves of 24 Mt (2019). Ecuador has substantial hydroelectric resources; the unused potential is estimated at 28.6 GW.

  • Energy Prices


    The prices of electricity are US$8.1c/kWh, both for industry and the residential sector (2019). Prices are rather stable and very low compared to Colombia (50% lower for both households and industry) and Peru (45% lower for households and 20% for industry).


  • Energy Consumption

    Per capita energy consumption is around 0.89 toe, a level 33% below the South American average (2019). Per capita electricity consumption is approximately 1 500 kWh.

    Energy consumption has been roughly stable since 2015 (14.5 Mtoe in 2019) as a result of low economic growth, after a rapid increase between 2005 and 2015 (3.7%/year).

  • 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).

Table of Contents


Download the Table of Contents

List of Graphs

Below is a list of the Ecuador energy market report graphs:

  • GRAPH 1: CO2-energy Emissions (MtCO2)
  • GRAPH 2: Installed electric capacity by source (2019, %)
  • GRAPH 3: Gross power production by source (2019, TWh)
  • GRAPH 4: Power generation by source (2019, %)
  • 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 (2019, %)
  • GRAPH 9: Final consumption market share by sector (2019, %)

List of Tables

In the Ecuador energy market report you will find the following tables:

  • 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.

Data (Excel Sheet)

The Ecuador energy market data since 1990 and up to 2019 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).

The Ecuador country report is complemented with a national power generation dashboard (excel file) from our Power Plant Tracker Service.

Data included in the excelsheet:

  • New capacities: Current power mix, installed capacity at date, capacity under construction and under development.
  • Power Sector Performances: Historical data on installed capacity, power generation, thermal power plants inputs, average thermal power plant efficiency, CO2 emissions of the power sector, carbon factor of the power sector.


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