Weekly Market Analytics Chile Vol 12 Num 16

VOL 12 | NUM 16 | 8 November 2025

Power Markets Weekly

CHILE | 27 October - 2 November 2025

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Public holiday in Chile decreased demand and prices

Glossary

Global SEN operation

The average price in Polpaico was USD 31.2/MWh, which is 8% lower than last week and 13% lower compared to one year ago.

Marginal cost evolution in Polpaico during past years

A decrease in hydro participation is observed compared to last week: dam participation decreased by 2.9 pp and run-of-river participation fell by 1.1 pp. Wind participation increased by 2.4 pp and gas participation increased by 1.3 pp. Other energy sources remained relatively stable.

Energy demand decreased by 1.4% compared to previous week, totaling 1.61 TWh. The system maximum demand reached 11.6 GW on Monday at 1 PM, with wind, solar, and BESS contributing 76.9% of the output. The highest wind-solar-BESS participation occurred on Tuesday at 3 PM, covering 77.1% of the 11.3 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

Prices dropped to USD 0/MWh for 77 hours north of Polpaico, 72 hours in Polpaico and Charrúa and 55 hours in Puerto Montt. Peak price was reached in Crucero zone (USD 106.5/MWh) Thursday at midnight.

Prices at reference nodes remained stable throughout the week, with no atypical behavior beyond the observed decouplings. Puerto Montt decoupled from the rest of the system during various days of the week, when line 220 kV Charrúa - Santa Clara and line 220 kV Lastarria – Ciruelos were congested.

Marginal cost evolution

Crucero
USD 33.3/MWh

D. de Almagro
USD 32.0/MWh

Pan de Azúcar
USD 30.9/MWh

Polpaico
USD 31.2/MWh

Charrúa
USD 29.7/MWh

Puerto Montt
USD 34.7/MWh

Solar and Wind production & BESS dispatch

Solar generation decreased 10.4 GWh (-2%), with a system-wide plant factor of 24.0%. The highest solar plant factor was observed in the Polpaico zone (31.3%), while the lowest was in the Pan de Azúcar zone (22.4%).

Wind generation increased by 36.3 GWh (+16%), with a system-wide plant factor of 25.3%. The highest solar plant factor was observed in the Charrúa zone (27.7%), while the lowest was in the Polpaico zone (11.9%). Wind output was particularly strong on Monday in Charrúa reaching a plant factor of 37.3%.

BESS discharge increased by 1.9 GWh (+4%). The highest increase was observed by Diego de Almagro (+12.2%).

Solar curtailment reached 23.3%, up by 5.3 pp. from the previous week. Wind curtailment was 17.7%, down by 1.3 pp. The combined curtailment rate was 20.8%, 2.9 pp. higher than last week.