Colombian energy ministry unveils 2023 regulatory agenda

Colombia is preparing new rules for carbon capture, utilization and storage (CCUS) tax breaks as it steps up decarbonization efforts.

Procedures and requirements for CCUS developers are scheduled to be released for consultation next September, according to a draft 2023 regulatory agenda published by energy ministry planning unit UPME.

UPME last year issued a memorandum in which it included CCUS in a certificate regime for non-conventional renewable energy developments and energy efficiency management initiatives.

Holders of Colombia's clean energy certificates are afforded a series of tax incentives and other fiscal benefits, such as accelerated depreciation of assets.  

UPME's draft regulatory agenda also includes an overhaul of rules related to the registration of generation projects and an update of coal reference prices, among other proposals.

The document, in Spanish, can be seen here.