Southern Cone gas and power: 2021 in review

The Southern Cone gas and power markets were marked in 2021 by a historic drought that largely affected Brazil, Chile and Argentina. Such conditions exposed market deficiencies and highlighted the importance of better energy planning policies and backup infrastructure. Despite that, progress has been made towards a clearer framework and, hopefully, the region’s markets will be better positioned after the drought. In this special issue of our monthly Southern Cone Gas and Power short-term outlook, we provide a review of 2021, highlighting the main regulations, commercial events and market fundamentals that shaped the year for Argentina, Brazil, Chile and Bolivia. Read this report for more details to understand: - What drove electricity and gas prices and demand in the region - How the historic drought impacted the gas and power markets - How producers performed in Argentina after the Gas Scheme - What factors affected gas and power trade between countries - The main regulatory changes