Panama Energy Market Report | Energy Market
This analysis includes a comprehensive Panama energy market report and updated datasets. It is derived from the most recent key economic
The electricity cost in Panama varies depending on the user type and region. Here's an in-depth look at the costs as of 2023: Residential Cost: Approximately $0.170 per kWh. Commercial Cost: Around $0.185 per kWh.
Panama is an electricity market which has grown significantly with a current installed capacity of 3.35GW. Electricity generation relies mainly on hydro production and historically on oil products. Therefore, the market is exposed to years with lower hydro generation that can affect market electricity prices.
Panama's electricity market relies on a mix of sources, including hydropower, natural gas, solar, wind, and oil. The Electric Transmission Company manages electricity transmission while distribution is handled by three main companies. The cost of electricity in Panama varies depending on user type and government subsidies.
Thanks to its numerous rivers and water bodies, Panama capitalizes on renewable hydropower. Natural Gas: Contributing about 13.2%, natural gas is the second largest source of electricity generation. Solar Power: With increasing investments in renewable energy, solar power now constitutes approximately 4.8% of the total electricity mix.
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