Mince the onion and slice the block bacon into thin strips.

Mix consomme powder, salt, and hot water in a heatproof container to prepare the broth.

Heat olive oil in a pan over medium heat, add onion and bacon, and sauté until the onion becomes translucent.

Add rice to the pan and stir until the grains become semi-transparent.

Gradually add the broth to the pan in three portions, cooking on low heat and stirring occasionally until the liquid is absorbed each time (about 4-5 minutes per addition).

Add grated cheese and butter to the pan, stirring until fully melted and incorporated.