The sustained fall in oil prices has led to record lows on the price paid by Guatemalan wholesalers for energy in the spot market.
The spot price paid by wholesalers in December went down by 12.5% compared to what was paid in the same month in 2014, totaling $41.55 per MW. According to the National Energy Commission (CNEE) and the Wholesale Market Administrator (AMM), it is the lowest amount paid in the last six years.
The renewal of the concession to Perenco was in doubt and Germany had offered to create a compensation fund to substitute it.
The contract, number 2-85, represents almost 98% of Guatemalan oil production and is unpopular among environmentalists. The extraction operations take place within the area of the Maya Biosphere Reserve, world renowned for its unique qualities and biological diversity.
The feasibility study is in its initial phase, perforating wells in order to determine the temperature of the water and the potential of the source.
Fernando Quiñonez writes in Sigloxxi.com: "Taking advantage of the fact that the mining project in the village of Cerro Blanco, in Asunción Mita, Jutiapa, is very close to a geothermal source, the company Gold Corp.
Alberto Cohen, president of INDE, said that the institute is not willing to let the construction of the Xalala hydroelectric project just die, and explained that CFE delegates came at the start of December, and visited the area between Alta Verapaz and Quiche where the plant will be built, in order to budget the investment funds for the study. This could be between $5 and $10, said the official.
The National Electric Energy Commission established that in the next few years 38 transmission lines are urgently needed to be built.
The message to investors about which projects in the country's electricity network are priority was published by the National Electric Energy Commission in resolution 189-2008 which establishes which of the current and future lines and substations make up the Main System, Carlos Colom, president of the entity, reported.
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