The average price of residential electricity in Panama has experienced a continual increase between 2016 and 2019, surpassing 200 U.S. dollars per megawatt-hour in 2019. Contact online >>
The average price of residential electricity in Panama has experienced a continual increase between 2016 and 2019, surpassing 200 U.S. dollars per megawatt-hour in 2019.
This analysis includes a comprehensive Panama 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.
View all macro and energy indicators in the Panama energy report. In 2022, energy consumption per capita was 1.2 toe, including 2 650 kWh of electricity. Total energy consumption has been increasing very rapidly since 2020 (14%/year), following very high economic growth; it reached 5 Mtoe in 2022.
Panama market report. Table of contents Author: Enerdata Subject: Panama market report. updated July 2024. Complete Panama Market Report includes updated energy data, prices, companies activities, graphs Created Date: 7/16/2024 3:23:24 PM
The residential sector was the largest electricity consumer in Panama in 2021, with an annual consumption of some 3.3 terawatt-hours. Commercial consumers followed, with an annual consumption...
The residential sector was the largest electricity consumer in Panama in 2021,
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This analysis includes a comprehensive Panama 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.
Institutions & Energy Policy
The National Energy Secretariat ("Secretaría Nacional de Energía") conducts the energy policy.
The Ministry of Environment ("Ministerio de Ambiente") manages the country''s natural resources. It was created back in 2015 following the dissolution of ANAM ("Autoridad Nacional del Ambiente").
Costa Norte (100% AES Corporation) started the operation of an LNG import terminal (2 bcm/year) in 2018.
Panama has no fossil fuel reserves. It does, however, have significant hydroelectric potential (11 600 MW) that is partly exploited.
In 2023, the price of electricity decreased by 3% for industry to US$c14.8/kWh (after a 14% increase in 2022) and remained stable for households at US$c16.4/kWh (after an 8% increase in 2022). This followed two years of declining prices in 2020 and 2021.
Electricity prices for households are much higher than in Mexico, by a factor of 2.5; prices for industry are 35% higher.
In 2022, energy consumption per capita was 1.2 toe, including 2650kWh of electricity.
Total energy consumption has been increasing very rapidly since 2020 (14%/year), following very high economic growth; it reached 5 Mtoe in 2022. It grew less rapidly between 2009 and 2019, by around 5%/year, and then dropped by 19% in 2020.
ETESA''s power development plan 2022-2036 expects electricity demand to grow by around 4%/year over the period (medium scenario). The country aims to diversify its energy mix, which is currently dominated by hydro and thermal capacities through the commissioning of solar and wind projects, BESS, and gas projects.
The Panama energy market data since 1990 and up to is included in the Excel file accompanying the Panama country report. It showcases the historical evolution, allowing users to easily work with the data.
About Panama city electricity market trends
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