Weekly Market Analytics Chile Vol 12 Num 11

VOL 12 | NUM 11 | 3 October 2025

Power Markets Weekly

CHILE | 22 - 28 September 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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The end of the Chilean fiestas patrias marked a return to regular demand levels

Glossary

Global SEN operation

The average price at Polpaico was USD 37.9/MWh, which is 11.9% higher than last week but 15.4% lower compared to one year ago.

Marginal cost evolution in Polpaico during past years

This week was marked by a 5.8% increase in total generation, driven by the end of Chilean fiestas patrias.

Renewables increased share in the energy mix with contributions from dam by 0.6 pp, wind by 0.4 pp, PV by 0.2 pp and run-of-river by 0.2 pp.

The greater participation of renewables led to a decline in the share of thermals: gas by 0.8 pp, coal by 0.5 pp and oil by 0.1 pp.

Gas generation was not dispatching from Saturday night until Sunday afternoon.

Peak demand occurred on Friday at 2 PM, reaching 12.0 GW. At that time, renewables were supplying 86.5% of the peak demand.

This week also marked the commissioning of the BESS Victor Jara, which has a storage capacity of 1,300 MWh and 200 MW of installed capacity. The asset is in Crucero zone.

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 congestion in four of the main transmission lines.

The 220 kV Tineo – Puerto Montt line experienced congestion early Tuesday morning, leading to price decoupling in Puerto Montt and resulting in a peak price of USD 216.1/MWh at 1 AM.

The 220 kV Charrúa – Santa Clara line also caused price decoupling in Puerto Montt on Thursday afternoon.

The 220 kV Lastarria – Ciruelos line also decoupled Puerto Montt on early morning hours of both Friday and Sunday.

The 500 kV Nueva Pan de Azúcar – Polpaico line was under maintenance on Friday, driving up prices from Polpaico to the south.

Marginal cost evolution

Crucero
USD 36.6/MWh

D. de Almagro
USD 36.2/MWh

Pan de Azúcar
USD 35.8/MWh

Polpaico
USD 37.9/MWh

Charrúa
USD 36.0/MWh

Puerto Montt
USD 37.9/MWh

Solar and Wind production & BESS dispatch

Solar injection increased its system plant factor by 1.1 pp compared to last week, reaching 22.7%. The highest plant factor was in Crucero with 24.4%, while the lowest was in Puerto Montt with 18.6%.

On Friday, solar injection in Polpaico was particularly low due to rainfall, resulting in a plant factor of just 9.1%.

Wind injection also increased its system plant factor, in this case by 1.6 pp compared to last week and reaching 20.3%. The highest plant factor was in Pan de Azúcar with 28.2% and the lowest was in Charrúa with 14.2%.

BESS discharge totaled 47.8 GWh which is the same level of injection compared to last week. The highest injection was in Crucero with 40.3 GWh, while the lowest was in Pan de Azúcar with 26 MWh.

The combined curtailment rate for solar and wind generation declined by 2.8 pp compared to last week, reaching 16.4%. Solar curtailment reached 18.4% | 72.2 GWh while wind curtailment was 13.8% | 38.3 GWh. These curtailment volumes were calculated excluding data from 25 September 2025, as it was not available at the time of the publication of this weekly report.