Weekly Market Analytics Chile Vol 11 Num 48

VOL 11 | NUM 48 | 20 June 2025

Power Markets Weekly

CHILE | 9 - 15 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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Multiple failures, limited gas supply and low wind generation rose the prices to over USD 200/MWh

Global SEN operation

The average price in Polpaico was 82% higher than last week and 138% higher compared to one year ago.

Marginal cost evolution in Polpaico during past years

This week, solar, coal, and hydro generation decreased by 1.0, 2.4, and 0.9 pp., respectively. In contrast, wind increased by 2.7 pp., gas by 1.3 pp., and oil by 2.1 pp.

Electricity demand increased by 1.9% compared to last week. The weekly peak reached 1.2 GWh/h on Thursday at 12:00, with renewable sources contributing 73.6% of the total generation at that time.

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

This week, the system experienced a decoupling during solar hours, segmenting operations into the northern, central, and southern zones. The separations between northern and center zones were triggered by congestions on the 500 kV Nueva Pan de Azúcar – Polpaico, while the ones that decoupled the south were by congestions on 220 kV lines: Charrúa - Santa Clara, Lastarría - Ciruelos and Rio Malleco -Cautín.

Additionally, the Nehuenco gas plant faced operational constraints throughout the week. Hydroelectric plants Pehuenche, Ralco, and Rapel declared exhaustion conditions, while Colbún also reported generation limitations.

As a result, during nighttime hours, the usual technologies went short to supply the demand. Consequently, oil was dispatched every night, except on Wednesday night when wind blew particularly strong. On Thursday evening, the situation led to a price spike, reaching USD 329.6/MWh at the Polpaico node

Marginal cost evolution

Crucero
USD 106.6/MWh

D. de Almagro
USD 104.4/MWh

Pan de Azúcar
USD 102.6/MWh

Polpaico
USD 124.8/MWh

Charrúa
USD 121.6/MWh

Puerto Montt
USD 111.9/MWh

Solar and Wind production & BESS dispatch

Solar generation reached 265.5 GWh with an average plant factor of 14.2%. The highest plant factor was registered in Crucero (18.1%), while the lowest was in Puerto Montt (3.7%).

Wind generation reached 254.2 GWh with an average plant factor of 25.3%. The highest plant factor was registered in Puerto Montt (42.5%), while the lowest was in Charrúa (21.7%).

BESS injections reached 28.7 GWh with an average plant factor of 12.5%. The highest plant factor was registered in Crucero (14.7%), while the lowest was in Polpaico (6.2%).

This week’s curtailment rate was 3.3% for wind and 7.4% for solar, reaching an average curtailment rate of 5.4%, lower than last week curtailment of 7.1%.