Sectoral analysis of electricity consumption during the COVID-19 pandemic: Evidence for unregulated and regulated markets in Colombia

We conduct a sectoral analysis of electricity consumption during the Coronavirus disease 2019 (COVID-19) pandemic for the primary sectors that make up Colombia's unregulated and regulated markets. Applying a model of seemingly unrelated regression equations to examine data between February 2015 and May 2021, we evidence the recomposition of electricity consumption related to mandatory preventive isolation during the pandemic. Average consumption in the residential sector increased by 16.9% as working from home became prevalent. In contrast, unregulated market sectors subjected to quarantines presented a significant decrease in consumption, up to 32% in the financial sector. While industries that were not subjected to mandatory confinement, such as health, food (agriculture), and water supply, had no significant effect. Our results are relevant for informing demand forecasts and planning network expansions to guarantee the reliability of the supply as pandemic practices such as working from home become permanent.