- Update
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- Format
- 3 files (PDF report, 2 Excel files)
- Pages
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28 (Report only)
- Delivery
- Immediate by e-mail
- GENERAL OVERVIEW
- INSTITUTIONS AND ENERGY POLICY
- ENERGY SUPPLY
- ENERGY PRICES
- ENERGY CONSUMPTION
- ISSUES AND PROSPECTS
- DATA TABLES
- ABBREVIATIONS
- GLOSSARY
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Overview
This analysis includes a comprehensive Uruguay 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.
Highlights
- The country's energy policy aims to diversify the energy mix, to reduce reliance on oil and hydroelectricity, and to promote energy efficiency.
- UTE supplies around 50% of the country's electricity and controls transmission and distribution.
- Ancap is the main oil and gas company.
- Renewables represented 92% of the power mix in 2023.
- Power exports fell by 83% in 2023.
- Energy prices are among the highest in South America.
- Biomass replaced oil as the main energy source in total consumption, with 47% in 2023.
- Industry is the largest final energy consumer, with 48%.
- A first pilot project was launched with funding of $10M under the Green Hydrogen Sector Fund to decarbonize heavy transport.
- The 7 offshore blocks that were open for hydrocarbon exploration under the "Uruguay Open Round" bidding process have all been awarded.
Institutions & Energy Policy
The Ministry of Industry, Energy, and Mines (MIEM) oversees the energy sector through the National Energy Department (DNE). However, the Salto Grande hydroelectric plant, shared between Uruguay and Argentina, falls under the direct management of the Ministry of Foreign Relations.
Energy Supply
Resources:
Similar to its immediate neighbours, Uruguay has significant hydroelectric resources, particularly along the Uruguay River, which it partially exploits in collaboration with Argentina. Out of theoretical resources of 32 TWh, only 7.2 TWh are considered economically exploitable.
Energy Prices
Oil:
In 2023, the prices of gasoline and diesel declined slightly to US$1.87/l and US$1.4/l. they had increased by 43% and 53%, respectively, between 2020and 2022. These prices are among the highest in South America.
Graph: GASOLINE & DIESEL PRICES (US$/l)
Energy Consumption
The average primary energy consumption per capita stood at 1.7 toe in 2023, including around 3 600 kWh/cap of electricity.
Total energy consumption rose to 5.9 Mtoe in 2023 (+7%) after remaining stable in 2022 and growing by 7% in 2021.
Issues & Prospects
Gas:
The country expects to greatly exploit its gas reserves.
- GRAPH 1: CO2-energy Emissions (MtCO2)
- GRAPH 2: Installed electric capacity by source (2023, %)
- GRAPH 3: Gross power production by source (TWh)
- GRAPH 4: Power generation by source (2023, %)
- GRAPH 5: Electricity prices for industry and households (US$c/kWh)
- GRAPH 6: Gasoline & diesel prices (US$/l)
- GRAPH 7: Gas prices for industry and households (US$c/kWh GCV)
- GRAPH 8: Consumption trends by energy source (Mtoe)
- GRAPH 9: Total consumption market share by energy (2023, %)
- GRAPH 10: Final consumption market share by sector (2023, %)
- 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 Uruguay energy market data since 1990 and up to
is included in the Excel file accompanying the Uruguay 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.
- Uruguay Energy Prices: In addition to the analysis provided on the report we also provided a data set which includes historical details on the Uruguay 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).