Panama & Colombia Join Forces to Lower Energy Prices

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Panama and Colombia Energy Agreement

Panama and Colombia Energy Agreement

Panama and Colombia will sign on Friday, February 19th, 2011 an electricity pact that will regulate the electricity sector in both countries and is expected to lower energy prices by adding competition to the market place. More information below from La Prensa-

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Panama, Colombia sign electricity pact

Panama and Colombia will sign an agreement stipulating that the regulation of the electricity sector in both countries is consistent.

This is part of the project to connect the power grids of the two countries. That project will link the two electrical systems through a 614-kilometer network.

The construction of the high-voltage transmission network has an estimated cost of $500 million and is being coordinated between Etesa of Panama and Interconexión Eléctrica of Colombia.

The two countries will sign the agreement Friday.

The project is expected to lower energy prices by adding more competition to the marketplace

(http://www.prensa.com/hoy/english/economy_6284.asp)

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