Weekly Market Analytics Chile Vol 12 Num 17

VOL 12 | NUM 17 | 14 November 2025

Power Markets Weekly

CHILE | 3 - 9 November 2025

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Solar generation in Polpaico fell by 56.0% on Thursday due to November rain

Glossary

Global SEN operation

The average price in Polpaico was USD 38.0/MWh, which is 22.0% higher than last week and 10.3% higher compared to one year ago.

Marginal cost evolution in Polpaico during past years

A week marked by declines in renewables: solar decreased by 0.1 pp, wind by 1.0 pp, dam by 1.3 pp, run-of-river by 0.4 pp, cogeneration by 0.1 pp and geothermal by 0.1 pp. These reductions led to a higher share of thermals, with gas increasing by 1.8 pp and coal by 1.4 pp.

Oil and biomass remained stable in their participation.

Peak demand reached 11.6 GW on Monday at 12 PM, with wind and solar contributing 73.5%, while BESS accounted for just 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

This week, the system recorded congestion in two main lines.

From Monday to Thursday, the 500 kV Nueva Pan de Azúcar – Polpaico experienced congestion at dawn, except on Wednesday when it occurred during solar hours, causing price increases between Polpaico and Puerto Montt.

Meanwhile, on Monday, Tuesday and Friday, 220 kV Lastarria – Ciruelos experienced congestion, causing price decoupling in Puerto Montt during the early morning.

The peak price of the week occurred on Monday at 8 PM, when prices ranged between USD 115.6/MWh in Crucero and USD 149.0/MWh in Puerto Montt. For most of that hour, the oil power plant 'Los Pinos' set the price. This coincided with the lowest wind generation of the week, contributing to the price spike.

Marginal cost evolution

Crucero
USD 29.4/MWh

D. de Almagro
USD 29.4/MWh

Pan de Azúcar
USD 29.6/MWh

Polpaico
USD 38.0/MWh

Charrúa
USD 37.5/MWh

Puerto Montt
USD 47.5/MWh

Solar and Wind production & BESS dispatch

Solar injection increased its system plant factor by 0.2 pp compared to last week, reaching 24.2%. The highest plant factor was in Charrúa with 26.1%, while the lowest was in Pan de Azúcar with 21.9%.

On Thursday, solar generation in Polpaico was affected by weather conditions, recording a decrease of 56.0% | 12.1 GWh compared to the previous day.

Wind injection decreased its system plant factor by 1.2 pp compared to last week, reaching 24.1%. The highest plant factor was in Diego de Almagro with 36.1%, while the lowest was in Polpaico with 5.2%.

The total BESS discharge reached 52.6 GWh, which is 3.4 GWh higher than the injection recorded last week. The highest injection was in Crucero with 44.2 GWh, while the lowest was in Pan de Azúcar with 35 MWh.

The combined curtailment rate for solar and wind generation rose by 2.6 pp compared to last week, reaching 18.2%. Solar curtailment reached 19.8% | 111.6 GWh while wind curtailment was 16.5% | 50.8 GWh. These percentages do not include curtailment for Thursday: although prices fell to USD 0/MWh on that day and there were instructions of curtailment in the whole system, the CEN reported 0 MWh of curtailed volume.