Andean Group - October 2026

ECUADOR | Tighter energy rationing for industry. On 8 October Ecuador’s environment and energy ministry announced tighter rationing of electricity for major industrial energy consumers. As of 12 October, industrial users in the ‘high voltage 1’ and ‘medium voltage’ categories were disconnected from the electricity grid for three days per week, rather than two. The government said that this would “optimise the consumption of large users, preserve energy reserves, and strengthen the stability [of the grid] … prioritising continued electricity supply to Ecuadorean homes”. Ecuador’s electricity system suffered repeated blackouts in 2023 and 2024 due to low water levels at hydroelectric stations, and the El Niño climate phenomenon poses a renewed threat over the coming months with a higher risk of drought. The impact on industry could heighten public dissatisfaction with President Daniel Noboa’s government, which faced demonstrations by trade unions in various cities on 8 October in rejection of its economic policies and to demand improvements in salaries, healthcare, and education. Such protests are likely to grow more frequent in the run-up to the 29 November regional elections, in which the main left-wing opposition party, Revolución Ciudadana (RC), has been controversially excluded.

COLOMBIA | Successful gas exploration campaign wraps up. On 5 October the state oil companies of Colombia and Brazil, Ecopetrol and Petrobras, concluded a 30-month offshore natural gas exploration campaign in Colombia’s Caribbean waters. In a social media post, Ecopetrol said that the exploration had helped “strengthen knowledge of Colombia’s gas potential and contribute to its energy sovereignty”. Ecopetrol said that the project had involved around US$1bn in investment and had resulted in the drilling of five wells. These are now set to be developed by the two companies, with Ecopetrol holding a 55.6% stake and Petrobras a 44.4% stake.

Andean countries: inflation rate
Percentage variation (year-on-year)

Andean countries: GDP growth (%)
Quarterly figures are year-on-year growth