The energy market in Colombia is a complex system that has been perfected over time. The latter with the aim of improving its operability, and solving certain market imperfections that arise in it. The great dependence that Colombia has on water sources for energy generation leads to high volatility in its prices. This not only represents a challenge for the energy market, but also an energy security problem for the country, and necessarily a risk for the economy. This research work addresses the problem that represents a high dependence on the sources and seeks to quantify the economic effects of an increase in the prices of energy, caused by a climatic type shock. For this, the study addresses the economic effect, focusing particularly on the sector manufacturer. This sector not only uses energy as an essential input throughout the production chain, but it is also one of the dynamic sectors of the economy and with relevance in the main economic variables of the country. The present study includes two complementary approaches. A macroeconomic that performs a global analysis of the manufacturing sector, and a microeconomic that analyzes the effect at the industrial establishment level. This is developed through the application of a regression system, and a VAR Autoregressive Vector model, which uses variables of interest such as the product of the manufacturing sector, energy prices, generation supply by source, and others. relevant control variables. The data show weak results for the macroeconomic approach, but it is possible to perceive a negative and significant effect, in terms of elasticity, for the microeconomic approach.