Peru has taken a major step toward modernising its energy sector with a pivotal reform to its Efficient Development of Electricity Generation Law (28832, modified by 32249), which governs the efficient development of electricity generation. This long-anticipated update is among other topics set to enhance competition across all forms of power generation fostering greater diversity and driving better conditions for consumers throughout the country.
Recognising the importance of the reform, Peru’s Ministry of Energy and Mines (MINEM) faced a pressing deadline: the law stated that the new regulation had to be developed within just 120 days. To meet this challenge, MINEM partnered with GET.transform, whose expert consultants composed of UL Energía e Infraestructura and Grupo Mercados Energéticos supported the design of the regulation and streamlined the drafting process. Through a series of internal workshops, complex issues were resolved promptly, enabling the publication of the regulation proposal on 9 April.
Giving an overview of the new regulation and allowing the public to provide feedback, MINEM further worked with GET.transform to organise a high-level hybrid workshop on 16 April with key actors from the public and private sector, including the electricity regulator Osinergmin, the transmission system operator COES, the Peruvian Renewable Energy Association (SPR).
Next to a technical presentation of the regulatory amendments, the consultants provided a comparative analysis of regional practices in countries such as Brazil, Panama, and Chile. National representatives from the energy sector contributed valuable comments and suggestions to strengthen and guide the revision which was referenced by a participant as the most important regulatory reform of the last 15 to 20 years.
The workshop served to showcase the relevance of connecting the sector stakeholders, with close to 100 physical participants and about 200 more joining online.
The Director of Electricity at MINEM, Elvis Richard Tello Ortiz, emphasised the importance of a participatory approach to regulatory development:
We are convinced that a technical and open dialogue with all stakeholders can lead to a robust and equitable regulatory framework, aligned with both current and, more importantly, future sector challenges.
Through this initiative, Peru reaffirms its commitment to a modern, inclusive, and resilient energy transition. By strengthening transparency and competition, the new regulatory framework enables the electricity sector to respond to the country’s current and future energy demands.
