This episode analyzes the imminent threat posed by the El Niño phenomenon in 2026 and its critical impact on Latin America’s energy infrastructure. The author argues that having a clean electricity mix does not guarantee security of supply, due to the region’s excessive reliance on hydropower in the face of extreme droughts. It emphasizes that decarbonization must be complemented by structural resilience that includes efficient thermal backup, diversification of renewable sources, and regional integration. Finally, the article proposes urgent short- and medium-term strategies to mitigate financial and operational risks before the climate compromises economic stability.