Weekly Market Analytics Chile Vol 11 Num 30

VOL 11 | NUM 30 | 14 February 2025

Power Markets Weekly

CHILE | 3 - 9 February 2025

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Fires arose in the Araucanía region (Center-South of Chile), leading to significant congestions in the area.

Global SEN operation

Polpaico average price was USD 53.5/MWh, 6.3% lower than last week, and 17.6% lower compared to the same week last year.

Marginal cost evolution in Polpaico during past years

Due to a significant reduction in dam variable cost of USD 14/MWh, dam generation surged by +2.5 pp. Additionally, coal generation increased by +1.4 pp.

Conversely, there were decreases in wind, solar, and run-of-river generation by -2.2 pp., -0.8 pp., and -0.4 pp., respectively.

Weekly’s peak demand was seen at 15:00 on Tuesday reaching 11.7 GWh/h. At the time, wind and solar supplied 64.7% of the demand (8.3% and 56.4%, respectively).

Generation Mix

Variation

Power range by energy sources (average prices)

Generation evolution

Geothermal

Cogeneration

Biomass

Coal

Gas

Oil

BESS

Dam

Run-of-river

Wind

PV Solar

CSP

This week, several fire hotspots emerged in Araucanía region (south of Charrúa), leading to different lines congesting in the area. Notably, on Sunday 220 kV line Río Malleco - Cautín and 220 kV line Duqueco - Los Peumos congested due to fires close by. There were also congestions on 220 kV line Charrúa – Santa Clara and 220 kV Lastarria – Ciruelos. These events decoupled Puerto Montt for almost all week.

The rest of the system was coupled overall, except from Tuesday, Wednesday and Friday during solar hours when 500 kV line Nueva Pan de Ázúcar – Polpaico congested, decoupling those areas.

Regarding zero prices, Crucero, Diego de Almagro, and Pan de Azúcar experienced 60 hours, Polpaico and Charrúa had 47 hours, and Pmont had 2 hours.

Marginal cost evolution

Crucero
USD 53.9/MWh

D. de Almagro
USD 52.0/MWh

Pan de Azúcar
USD 50.7/MWh

Polpaico
USD 53.5/MWh

Charrúa
USD 51.5/MWh

Puerto Montt
USD 188.0/MWh

Solar, Wind & BESS production

Solar generation dropped by 12.1 GWh this week (-2.4%). The highest plant factor was seen in Charrua with 35.8% (20.1 GWh), while the lowest one was seen in Pan de Azúcar with 23.4% (32.9 GWh).

Wind generation drastically dropped, by 35.9 GWh this week (-14.1%). The highest plant factor was seen in Charrua with 42.6% (108.5 GWh), while the lowest one was seen in Pan de Azúcar with 14.0% (41.2 GWh).

BESS injections, on the other hand, increased by 2.9 GWh (+12.7%). The highest plant factor was seen in Diego de Almagro area (22.0%), while the lowest one was seen in Pan de Azúcar (7.1%).

This week’s curtailment rate was 11.1% for wind (27.4 GWh) and 14.6% for solar (78.4 GWh), reaching a weighted average curtailment rate of 13.5% (1.5 pp. lower than last week.).