Weekly Market Analytics Chile Vol 11 Num 46

VOL 11 | NUM 46 | 6 June 2025

Power Markets Weekly

CHILE | 26 May - 1 June 2025

Power Markets Weekly is a brief weekly review of the electric market operation in Chile, Mexico, Iberia, France and Italy. If you are not a subscriber, please feel free to subscribe here

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No holidays and the upcoming winter led to a 4.2% demand increase, even though prices decreased system-wide.

Global SEN operation

This week’s average Polpaico price was USD 58.3/MWh, which is 3% lower than last week, and 40% lower compared to one year ago.

Marginal cost evolution in Polpaico during past years

Contrary to last week, this week had no holidays, which combined with the beginning of lower temperatures, resulted in a 4.2% increase in system's demand, reaching a total of 1.7 TWh.

In terms of the generation mix, even with coal and oil increasing their share by 1.1 pp. and 0.8 pp., respectively, total thermal's share diminished due to a 5.8 pp. decrease in gas participation.

On the other hand, renewables had an overall stable behaviour, except in wind, that increased its share by 5.0 pp., while solar decreased by 1.0 pp. Overall, thermals represented 34.9% of the weekly generation, hydro sources 30.0% and wind, solar and bess made for 35.9%.

Peak demand reached 11,849 MW on Monday at 12 PM, when solar represented 41.3% of the mix and wind 6.5%. Maximum combined wind, solar and bess participation happened at 3 PM on Friday with 69.8%, when solar represented 48.8% of the mix, wind 21.0% and BESS 0.1%.

Generation Mix

Variation

Power range by energy sources (average prices)

Learn more about this chart

Generation evolution

Geothermal

Cogeneration

Biomass

Coal

Gas

Oil

BESS

Dam

Run-of-river

Wind

PV Solar

CSP

The system’s major congestions of the week were the following:

500 kV line Nueva Pan de Azúcar – Polpaico on solar hours of Monday, Tuesday, Wednesday and Friday, decoupling Pan de Azúcar from Polpaico.
500 kV line Alto Jahuel – Lo Aguirre, on the first hours of Thursday decoupled the Center-South (Charrúa) from the Center (Polpaico).
220 kV line Charrúa – Santa Clara on early mornings and night hours from Wednesday to Sunday, 220 kV line Lastarria – Ciruelos on Wednesday, and 220 kV line Rio Malleco – Cautín on solar hours of Saturday. All these events decopled Puerto Montt from the rest of the system.

The congestion on 220 kV line Rio Malleco - Cautín caused the peak price of the week: USD 283.8/MWh in Puerto Montt at 11 AM on Saturday. This was due to the operation of Trapen (oil). Additionally, at 7 PM on Sunday, the entire system was coupled when a low wind resource availability led to Los Pinos (oil) to set the price, reaching USD 165.8/MWh in Polpaico.

Marginal cost evolution

Crucero
USD 51.8/MWh

D. de Almagro
USD 51.4/MWh

Pan de Azúcar
USD 51.4/MWh

Polpaico
USD 58.3/MWh

Charrúa
USD 55.6/MWh

Puerto Montt
USD 57.4/MWh

Solar and Wind production & BESS dispatch

Solar generation dropped by 3.3 GWh this week, the main plant factor was seen in Crucero (19.6%) whilst the lowest was in Puerto Montt (8.0%). The combined average plant factor (i.e., the system plant factor) of the technology was of 16.6%.

Wind generation increased by 93.5 GWh this week, the main plant factor was seen in Charrúa (44.8%) whilst the lowest was in Cardones (11.2%). The combined average plant factor of the technology was of 26.9%.

BESS injections increased by 0.8 GWh this week, the main plant factor was seen in Crucero (18.9%) whilst the lowest was in Polpaico (6.3%). The combined average plant factor of the technology was of 15.6%.

This week’s system curtailment rate was 3.9% for wind (11.0 GWh) and 7.8% for solar (26.0 GWh), reaching a weighted average curtailment rate of 6.0%. Notably, no solar curtailment was reported on Thursday according to the Coordinador Eléctrico Nacional.