Weekly Market Analytics Chile Vol 11 Num 31

l Weekly Market Analytics Chile Vol 11 Num 31

VOL 11 | NUM 31 | 21 February 2025

Power Markets Weekly

CHILE | 10 - 16 February 2025

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Wind generation reached 264.7 GWh, achieving a new weekly record.

Global SEN operation

The average price in Polpaico was USD 52.5/MWh, which is 1.5% lower than last week and 1.7% lower compared to one year ago.

Marginal cost evolution in Polpaico during past years

In terms of the generation mix, renewables observed a decrease despite wind participation increasing by 2.8 pp. This was due to decreases in solar by 1.9 pp., dam and run-of-river by 0.7 pp., biomass by 0.3 pp. and BESS by 0.1 pp.

The reduction in renewable participation and increase in share of coal by 2.2 pp. led to a decrease in gas share by 1.3 pp.

Water stored by dam continued to decrease its level, causing a decrease in its participation in generation mix despite its variable cost is USD 1.2/MWh lower than last week.

This week’s peak demand reached 11.6 GWh/h at 15:00 on Thursday. At the time renewables represented 89.7% of the supply, with solar, wind and run-of-river contributing 57.3%, 15.6% and 12.2%, 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

The total hours with zero prices were 56 in Crucero, Diego de Almagro and Pan de Azúcar, which is 4 hours less than last week, 51 in Polpaico and Charrúa, which is 4 hours more than last week and 23 in Puerto Montt, which is 21 hours more than last week.

The difference in hours with zero prices in Puerto Montt, compared to the other areas of the system, was due to several congestions throughout the week in the 220 kV line Lastarria – Ciruelos and 220 kV line Charrúa – Santa Clara.

The 220 kV line Lastarria - Ciruelos was congested during all week, while 220 kV line Charrúa - Santa Clara was also congested, but only from Tuesday to Thursday.

Furthermore, 500 kV line Nueva Pan de Azúcar – Polpaico decoupled from Polpaico to South on Thursday and Friday at the afternoon.

The decouplings of the Puerto Montt on early Tuesday morning hindered the sharing of its renewable generation with other areas of the country, leading to an increase in oil generation in Crucero, Diego de Almagro and Charrúa.

The peak price was USD 326.1/MWh in Puerto Montt on Thursday at 15:00, set by Degañ oil power plant. In that moment, the generation was 11.3 GWh/h being 14.0% supplied by thermals: 7.5% by coal, 5.5% by gas and 1.0% by oil.

Marginal cost evolution

Crucero
USD 55.7/MWh

D. de Almagro
USD 53.5/MWh

Pan de Azúcar
USD 51.9/MWh

Polpaico
USD 52.7/MWh

Charrúa
USD 50.5/MWh

Puerto Montt
USD 130.3/MWh

Solar and Wind production & BESS dispatch

Solar generation was 435.3 GWh. The peak of generation was 7,371.9 MWh/h on Wednesday at 12:00, but Monday was the day of the week with the highest generation throughout the day reaching 67.5 GWh. Being the highest plant factor in Charrúa (35.3%) and the lowest in Pan de Azúcar (23.1%).

Wind generation achieved a new weekly record of 264.7 GWh. On Sunday, the peak generation was 3,596.4 MWh/h at 20:00, with the highest generation throughout the day of the week, reaching 43.5 GWh. Being the highest plant factor in Charrúa (47.2%) and the lowest in Polpaico (4.2%).

BESS dispatched was 23.6 GWh. On Monday, the peak generation was 796.5 MWh/h at 21:00, with the highest generation throughout the day of the week, reaching 4.1 GWh. Being the highest plant factor in Diego de Almagro (21.1%) and the lowest in Pan de Azúcar (6.7%).

This week’s curtailment rate was 14.3% for solar (72.4 GWh) and 8.1% for wind (23.1 GWh), reaching an weighted average curtailment rate of 12.1% (1.4 pp. lower than last week’s average curtailment rate).