Abstract

Energy investments, with special emphasis on renewable energies, in Latin America, have been developed through auctions or tenders. These have presented diverse typologies and schemes, but also have many points in common, with the main objective being to obtain power or energy. The countries involved in these practices have developed their legislation, based on existing legislation, from which new regulations have been created specifically to regulate them. In Cuba, there are not enough experiences of energy investments under the auction scheme, nor does it have specific legislation to carry them out, however, it has a novel legal framework as a basis for the creation of a legal norm to regulate this issue. This paper determines that the most feasible typology for Cuba is the closed envelope auction, which should evolve in the future into a hybrid or combinatorial auction. The analysis of the energy auction schemes developed in the countries studied is the basis for the one proposed for the Cuban scenario, and it is necessary to study it from a business approach, with a political vision of state development that integrates all social actors. The Cuban legal framework on energy does not contemplate energy auctions in a specific regulation, and it is advisable to legislate on the matter through a Decree issued by the Council of Ministers; in turn, the Ministry of Energy and Mines can issue lower-level regulatory provisions within the framework of its competence.

This paper will be part of the OGEL Special Issue on "Offshore Energy Investments and Activities". More information here www.ogel.org/news.asp?key=710