The situation of the energy sector in the region was discussed in a dialogue with the Diplomatic Corps accredited in Ecuador

• The Latin American and Caribbean Energy Organization, OLACDE, held a working breakfast in Quito with the diplomatic corps accredited in Ecuador. During the meeting, the situation of the energy sector in the region was discussed.

The Latin American and Caribbean Energy Organization, OLACDE, held a meeting on May 4th to present relevant information on energy matters to representatives of the Diplomatic Corps accredited in Ecuador. Alfonso Blanco, OLACDE’s executive secretary, presented a report on the organization’s accountability and the situation of the energy sector in Latin America and the Caribbean. In his speech he emphasized that: “Access to electricity in the region reaches an average of 97% for a population of nearly 600 million people living in our region. A great effort has been seen in countries with low connection rates. We still have 18 million people who do not have access to electricity or are not connected to the grid,” he said. Regarding the use of renewable energies, Blanco indicated that from 2019 to 2020, Latin America went from 58% to 61% share of this type of energy. “The region has a very ambitious initiative underway – supported by OLACDE and other agencies – that aims to bring the share of renewables in electricity generation to 70% by 2030.” Latin America and the Caribbean are moving towards the withdrawal of fossil fuels as the main source of power generation: “Even though 5 GW of fossil fuel generation was installed, 23 GW of coal and fossil fuels were withdrawn from the system. This is a strong climate action, as a large part of the 5 GW installed are with more efficient natural gas plants and combined cycle plants with lower carbon intensity,” concluded OLACDE’s executive secretary. For his part, Paul Simons, who is currently the director of the Jackson Institute for Global Affairs at Yale University – until 2020 he held the position of deputy director of the International Energy Agency and previously U.S. ambassador to Chile – shared with the attendees an analysis of the state of energy security and energy transitions. The official spoke of the energy “trilemma”: 1) Energy security/reliability; 2) Economic growth; 3) Environmental sustainability, including climate change concerns. He reviewed the main global energy policies and reflected on the role of consumers and businesses in this effort to adopt new energy sources. The meeting was an ideal space for the exchange of experiences between the practices of each country, in the voice of their diplomatic representatives. Communications and Institutional and Institutional Relations Department gabriela.jarrin@OLACDE.org