In a new publication, prepared by The Latin American and Caribbean Energy Organization (OLACDE), the impacts of the COVID-19 pandemic on the energy sector in Latin America and the Caribbean are analyzed; mainly the drop in energy demand by making an average comparison of the pre and post confinement situation, and taking as reference 2 days to compare the hourly power demand curves in some countries.
Subsequently, this study analyzes the steep drop in the demand for public transport, based on confinement measures and those that restricted the use of transport.
The third part of this publication is intended to analyze the effects on the demand and supply of energy in the OLACDE countries, grouped by subregions, of a sudden drop in GDP during 2020, and an eventual recovery process starting 2021. This, based on the estimates made by the IMF, on the GDP decline percentage rates for the year 2020 and a recovery for the year 2021; and logarithmic correlation functions between nominal GDP at constant 2010 prices and final energy consumption.
Taking advantage of the latest prospective study carried out by OLACDE for the period 2017-2040, published in the Energy Panorama of LAC 2019, where a scenario of high penetration of natural gas in the region (HGS) was analyzed, this scenario was taken as the baseline to visualize the effects of the pandemic both on energy demand and supply, and on CO2 emissions.
Through this document OLACDE intends to make available a knowledge product that can be useful to everyone and contributes to facilitating solutions to the emergency that we are experiencing today.
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