Weekly Market Analytics Chile Vol 12 Num 13

VOL 12 | NUM 13 | 17 October 2025

Power Markets Weekly

CHILE | 6 - 12 October 2025

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Low prices persist and curtailment rises

Glossary

Global SEN operation

The average price at Polpaico was USD 32.0/MWh, 2% lower than last week and 16% lower than the same week last year. It also marks the lowest weekly price in Polpaico this year.

Marginal cost evolution in Polpaico during past years

Fossil fuel technologies maintained their share in the energy mix compared to the previous week. Gas increased its share by 0.6 pp, while oil and coal decreased by 0.1 pp and 0.5 pp, respectively. On the renewable side, wind and run-of-river increased their shares by 0.7 pp and 0.4 pp, while dam and solar declined by 0.4 pp and 0.2 pp.

Weekly energy demand rose by a modest 0.4% compared to the previous week, totaling 1.62 TWh. The system’s maximum demand reached 11.4 GW on Thursday at 1 PM, with wind, solar, and BESS contributing 78.2% of the output. The highest wind-solar-BESS participation occurred on Monday at 1 PM, covering 78.9% of the 10.9 GW demand.

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 week began with one of the usual southern congestions: the 220 kV Lastarria - Ciruelos line, which caused prices to drop to zero at the Puerto Montt node, decoupling it from the rest of the system. On Tuesday, Puerto Montt recorded a price of zero throughout the night into Wednesday morning, partly due to congestion in the 220 kV Charrúa - Santa Clara line after solar hours. For the remainder of the week, Puerto Montt decoupled multiple times due to the same previously mentioned congestions.

On Friday, congestion in the 500 kV Nueva Pan de Azúcar - Polpaico line triggered the operation of the oil-powered Kelar plant in Crucero zone, setting the weekly peak price at USD 111.4/MWh. This congestion reappeared on Sunday morning, initiating price decoupling from Pan de Azúcar toward the northern nodes, separating them from the rest of the system’s reference prices.

Marginal cost evolution

Crucero
USD 31.9/MWh

D. de Almagro
USD 30.9/MWh

Pan de Azúcar
USD 29.8/MWh

Polpaico
USD 32.0/MWh

Charrúa
USD 30.3/MWh

Puerto Montt
USD 20.0/MWh

Solar and Wind production & BESS dispatch

Solar generation decreased by 10.5 GWh (-7.9%), with a system-wide plant factor of 22.4%. The highest solar plant factor was observed in Charrúa (27.7%), while the lowest was in Diego de Almagro (19.4%).

Conversely, wind generation increased by 13.0 GWh (+5.2%). The system plant factor was 24.4%, with Charrúa leading at 31.1% and Diego de Almagro recording the lowest at 17.9%.

BESS discharge totaled 46.9 GWh, up by 1.0 GWh (+2.4%) from the previous week. The Charrúa area recorded the highest percentage increase, with injection rising 9.2% (63 MWh).

Solar curtailment reached 24.8%, up by 7.3 pp from the previous week. Wind curtailment was 15.0%, up by 2.7 pp from the previous week. The combined curtailment rate was 20.7%, 5.3 pp higher than last week.