During July and August of this year, Panama did not export electricity to the Central American countries.

An electric company worker cuts disconnected high-voltage cables during maintenance work on a transmission tower in Panama. (Illustrative image Infobae)Panama exported between 101 and 143 GWh (gigawatt-hours) monthly to the rest of the isthmus during the first half of 2026, a share that disappeared in July and August, when the report from the National Dispatch Center (CND) recorded exports to Central America equivalent to 0.00% of consumption. The suspension responded to the need to preserve local supply during a period of higher demand and lower water availability. The Panamanian system, it was reported, maintained marginal costs below those of several neighboring markets, but the authorities chose to protect their reserves in the face of the risk of internal tensions. The CND and Electric Transmission Company, S. A. (ETESA) suspended up to 200 MW (megawatts) of exports since late June. The measure sought to avoid a scenario of rationing or abrupt increases in national tariffs. Plants that harness the power of water contributed 46.1% of the electricity delivered to the Panamanian system on September 22. Taken from the InternetThe interruption also changed Panama's role within the Regional Electricity Market (MER). The country had taken advantage of its surpluses to sell energy to other Central American nations, although that strategy depended on water availability and the evolution of domestic demand. The regional price rose while Panama stopped selling surplusesThe exit of Panamanian energy from the regional system had helped ease prices during the first months of the year. In August, the MER averaged $180.56 per MWh, an increase of 69.8% compared to the same month of the previous year. An electricity meter installed on the exterior wall of a residence records the home's energy consumption. (Illustrative image Infobae)Each market names the short-term price differently. In Panama it is known as marginal cost, in Guatemala as spot price, and in Colombia as bolsa price, although all three concepts refer to the value needed to generate the next MWh. The calculation methodologies also differ. The Colombian figure comes from a conversion prepared by the specialized publication Nexo based on the 942 pesos per kWh published by XM for August, while the Panamanian value was obtained through an in-house average of the CND's hourly data. In other series from the Panamanian agency, the marginal cost reached $65.52. The Wholesale Market Administrator (AMM) recorded a price of USD 49.64 for Mexico, below the regional level reported for August. Panama's capacity to export electricity was supported by favorable hydrology and the availability of thermal generation. That advantage began to shrink as reservoir levels dropped and pressure on the system increased. The IMHPA's August outlook projected that Bayano would fall to 18.93% of its multiannual flow by December. The decline compromises one of the sources that allowed the country to have surpluses to meet the needs of the regional market. The image shows a panorama of the different energy sources that coexist in Panama, from wind and solar to hydroelectric and thermal, alongside its urban development. (Illustrative image Infobae)In Honduras, a former manager of the National Electric Energy Company (ENEE) warned that the El Cajón hydroelectric plant could operate at half its capacity. The regional picture showed that pressure on water resources was not limited to the Panamanian system. Hydroelectric, wind, and solar generation had sustained a good part of the available surpluses during the first months of the year. The reduction in the reservoirs' contribution altered that balance and reinforced the need to conserve energy for local consumption. The National Authority for Public Services (ASEP) reported total gross generation of 7,390.45 GWh during the first half of 2026. The record incorporated production from the National Interconnected System (SIN), self-generators, and isolated systems. The Ministry of Economy and Finance (MEF) counted a total supply of 3,386,959.1 thousand kWh during the first quarter. Archive photograph showing a general view of a field of electric towers. EFE/Federico Gambarini The figure represented an increase of 5.2% compared to the same period of 2025, in a context of expanding economic activity and electricity consumption. Renewable generation reached 2,570,410.9 thousand kWh in that period, with a year-on-year increase of 9.3%. The combination of hydroelectric, wind, and solar sources made additional energy available at certain times of the day. During the first quarter, electricity exports to Central America grew 79.7%, going from 211,182.4 thousand kWh to 379,409.1 thousand kWh.