Weekly Market Analytics Chile Vol 11 Num 40

VOL 11 | NUM 40 | 25 April 2025

Power Markets Weekly

CHILE | 14 - 20 April 2025

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BESS dispatch during solar hours? Yes, BESS del Desierto and BESS San Andrés did it

Global SEN operation

The average price in Polpaico was USD 104.1/MWh, which is 0.1% lower than last week and 75% higher compared to one year ago.

Marginal cost evolution in Polpaico during past years

Weekly demand went down to 1.59 TWh, led by the holiday on Friday for Easter. Renewables comprised 57.0% of the mix.

An increase of coal was the main change during this week: 2 pp. This led to a decrease in gas by 1.4 pp, while the other technologies remained similar to last week.

In terms of variable cost and given that dam stored energy continue to decrease, its variable cost reached USD 111.7/MWh (40.2% higher than coal). This led to the displacement of dam generation by coal.

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 500 kV line Nueva Pan de Azúcar – Polpaico experienced periodic congestion throughout the week, mainly in the mornings except on Thursday, and in the afternoon on Tuesday and midday on Wednesday. This condition initiated a decoupling from Polpaico to south.

The 500 kV line Nueva Maitencillo - Nueva Pan de Azúcar wasn't fully operational due to one circuit being unavailaible over the weekend. This led to congestions in the 500 kV line Nueva Pan de Azúcar - Polpaico, which was also operating without one circuit over the weekend.

The 220 kV line Lastarria – Ciruelos was congested in the mornings on Monday and Wednesday, and in the afternoon on Monday, while the 220 kV line Río Malleco - Cautín was also congested on Tuesday morning. These congestions decoupled Puerto Montt from the system.

On Thursday, the system was coupled during all day with no price fall to zero.

The peak price was USD 231.4/MWh in Polpaico on Tuesday at 11 PM, set by El Peñón oil power plant that was required to supply the demand and ancillary services. In that moment, the demand was 10.9 GWh/h being 24.9% supplied by thermals: 17.2% by gas, 5.9% by coal, 1.3% by cogeneration and 0.5% by oil.

The total hours with zero prices were 31 in Crucero, Diego de Almagro and Pan de Azúcar, and 3 in Polpaico, Charrúa and Puerto Montt.

Marginal cost evolution

Crucero
USD 84.7/MWh

D. de Almagro
USD 83.6/MWh

Pan de Azúcar
USD 84.6/MWh

Polpaico
USD 104.1/MWh

Charrúa
USD 102.5/MWh

Puerto Montt
USD 105.6/MWh

Solar and Wind production & BESS dispatch

Solar generation was 323.1 GWh, which is higher than last week (+0.6% | +1.8 GWh). Crucero had the highest plant factor with 19.5%, while the lowest was in Puerto Montt, with 11.2%. The average solar plant factor in the system was 17.4%.

Wind generation was 204.3 GWh, which is lower than last week (-2.7% | -5.7 GWh). Puerto Montt had the highest plant factor with 26.4%, while the lowest was in Polpaico, with 15.6%. The average wind plant factor in the system was 20.3%.

Regarding wind generation, Pan de Azúcar was concentrated in the afternoons of Tuesday and Wednesday, reaching an average plant factor of 57.9% during that time. Meanwhile, Charrúa registered a strong concentration from Thursday afternoon to Saturday early morning, reaching an average plant factor of 52.3% during that period.

BESS dispatch was 33.0 GWh, which is higher than last week (+8.5% | +2.6 GWh). Diego de Almagro had the highest plant factor with 21.1%, while the lowest was in Pan de Azúcar, with 5.7%. The average BESS plant factor in the system was 18.0%.

On Monday, BESS dispatched some energy during solar hours, mainly by BESS del Desierto in Crucero, which initiated its first injections last Friday, and BESS San Andrés in Diego de Almagro. However, BESS del Desierto wasn´t programmed to inject energy on Monday, fact that could indicate that this won't be a normal operation.

This week’s curtailment rate was 5.8% for wind (12.6 GWh) and 14.8% for solar (55.4 GWh) , reaching an average curtailment rate of 11.5% (lower to last week’s average curtailment rate by 7.4 pp.).