After the generation the electricity must be transmitted to the distribution companies or Large Customers. The Transmission is in charge of the only transmission company in the Panamanian electricity market, the Electric Transmission Company, S. A. (ETESA), 100% owned by the state. Contact online >>
After the generation the electricity must be transmitted to the distribution companies or Large Customers. The Transmission is in charge of the only transmission company in the Panamanian electricity market, the Electric Transmission Company, S. A. (ETESA), 100% owned by the state.
Three main companies are responsible for the distribution and marketing of electrical energy: ENSA, Edemet and Edechi, the last two are part of the Naturgy group. ENSA distributes electricity to users in Colón, Darién, the Kuna Yala Region, Eastern Panama, and the Pacific Islands. Naturgy distributes energy to West Panamá, Coclé, Herrera, Los Santos and Veraguas, Chiriquí and Bocas del Toro
In Panama, the average cost in 2023 of residential electricity is around $0,170 per kWh while the cost for businesses is around $0,185 per kWh. This includes all components of the electricity bill such as the cost of power generation, distribution and taxes. If we compare the price with the rest of the world, the cost is slightly higher compared to the average price of electricity in the world and similar to the US. The cost of electricity bills can vary between the different neighbourhoods in Panama City, thanks to the subsidy that the government guarantees in the various parts of the city. This results in a monthly bill for electricity between $100 and $300, depending on the size of your home.
According to the latest data from the International Energy Agency in 2021, the electricity generation sources are Hydro at 68,9%, followed by Natural Gas at 13,2%, Solar PV at 4,8%, Wind and Oil at 4,4%, and finally Coal at 4,1%. The Total electricity production in Panama 2021, is 12106 GWh, the 99th country in the world by electricity production.
Renewable energies are becoming an increasingly relevant source of energy for countries, as they can reduce CO2 emissions and dependence on imported fossil fuels. According to the latest data from the International Energy Agency, Panama's share of modern renewables in final energy consumption is 22,73% in 2020, placing it in 40th place among countries in the world.
Studying the electricity final consumption by sector, we can find that the commercial and public services are the first consumers with a share of 52,8% in 2021, followed by the residential sector at 29,7%, and the Industry sector at 16,8%. These data are correlated to the GDP produced by the sector in the economy of Panama.
[1] Statista - Price of Residential Electricity in Panama[2] Enerdata - Energy Market in Panama[3] International Energy Agency - Panama[4] Global Petrol Prices - Electricity Prices in Panama[5] Enel Green Power - Fortuna Hydroelectric Plant[6] Database Earth - Hydro Power Plants in Panama[7] IEA - Renewables in the Energy Mix of Panama[8] Panama National Energy Plan 2015–2050
Energy and Climate Databases
Energy - Climate Forecasts
Energy - Climate Scenarios
Climate Strategy and Policy Evaluation
Download the Table of Contents
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 started to import natural gas as LNG in 2018, following the commissioning of the Costa Norte LNG import terminal, with a capacity of 2bcm/year (180000m3 of storage, cost of US$650m). In 2022, the country imported 0.54 bcm, mainly from the United States (88%) and the rest from Trinidad and Tobago.
In 2023, the price of electricity decreased by 3% for industry to US$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 Electricity market panama city
As the photovoltaic (PV) industry continues to evolve, advancements in Electricity market panama city have become critical to optimizing the utilization of renewable energy sources. From innovative battery technologies to intelligent energy management systems, these solutions are transforming the way we store and distribute solar-generated electricity.
When you're looking for the latest and most efficient Electricity market panama city for your PV project, our website offers a comprehensive selection of cutting-edge products designed to meet your specific requirements. Whether you're a renewable energy developer, utility company, or commercial enterprise looking to reduce your carbon footprint, we have the solutions to help you harness the full potential of solar energy.
By interacting with our online customer service, you'll gain a deep understanding of the various Electricity market panama city featured in our extensive catalog, such as high-efficiency storage batteries and intelligent energy management systems, and how they work together to provide a stable and reliable power supply for your PV projects.
