Peru breaks power demand record

By
Wednesday, December 3, 2014

Maximum demand on Peru's national grid hit a record 5,737MW in November, breaking the previous mark of 5,677MW in March.

Hydropower accounted for 53.4% of supply last month, according to data from grid operator COES. Natural gas represented 44.7%, wind 1.62%, bagasse 0.16% and biogas 0.07%.

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Maximum demand in November 2013 was 5,505MW. Hydro supplied 51.1%, gas 46.1%, coal 1.74%, bagasse 0.67%, residual 0.26% and biogas 0.08%.

The latest metrics coincide with a forecast from the UN Economic Commission for Latin America and the Caribbean (Eclac) that Peru will grow 5% in 2015.

The economy expanded 1.8% year-on-year in the third quarter and the government in recent weeks unveiled massive tax cuts.

In a related report, IMF managing director Christine Lagarde visited Peru, where she met with President Ollanta Humala in the lead up to next year's IMF and World Bank annual meetings to be held in Lima.

"We coincide that Peru today has a robust economy, an economy that permits us to face the crisis, [an economy] equipped with the necessary tools to resolve the different challenges triggered by the worldwide economic slowdown," Humala told press following a meeting with Lagarde.

"I have congratulated the president for all the macroeconomic policies that are being put into practice," state news agency Andina quoted the IMF head as saying.