Weekly Market Analytics Chile Vol 12 Num 27

VOL 12 | NUM 27 | 23 January 2026

Power Markets Weekly

CHILE | 12 - 18 January 2026

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A week marked by a 29% increase in wind generation led to a decline in thermal participation

Glossary

Global SEN operation

The average price in Polpaico was USD 29.1/MWh, 16% lower than last week and, 23% lower compared to the same week, last year.

Marginal cost evolution in Polpaico during past years

Regarding the generation mix this week, thermal sources decreased their share. Oil showed no variation, while coal and gas declined by 2.4 pp and 1.4 pp, respectively.

Hydro sources increased their participation, with dam and run-of-river rising by 1.0 pp and 0.3 pp, respectively.

A substantial growth was observed in wind, which rose by 3.9 pp, conversely, solar and BESS fell by 1.0 pp and 0.1 pp, respectively.

Peak demand was 12 GW at 1 PM on Monday, where solar and wind accounted for 74.6% of the generation mix. BESS participation had a peak at 11 PM on Saturday, providing 15.7% of the total generation.

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

Congestion was present on workdays during solar hours, decoupling Puerto Montt from the rest of the system, due to congestion in 220 KV Lastarria – Ciruelos line. Charrúa and Polpaico also experienced decoupling from 2 PM to 4 PM on Monday, due to congestion in the 500 KV Nueva Pan de Azúcar – Polpaico line. Otherwise, during the weekend the system remained coupled, despite the forest fires affecting the Center-South area.

The peak price of the week was set by an oil power plant in Puerto Montt, reaching USD 240.1/MWh on Thursday at 9 AM.

Marginal cost evolution

Crucero
USD 28.7/MWh

D. de Almagro
USD 29.0/MWh

Pan de Azúcar
USD 28.8/MWh

Polpaico
USD 29.1/MWh

Charrúa
USD 28.1/MWh

Puerto Montt
USD 108.1/MWh

Solar and Wind production & BESS dispatch

Solar generation declined by 27.9 GWh this week, a decrease of 5.0% compared to last week. The lowest plant factor was seen in Pan de Azúcar, with 22.2%, while the highest was in Puerto Montt, with 34.2%. The system wide solar plant factor was 25.2%.

Wind generation in the system was higher than last week by 61.7 GWh (an increase of 29% compared to last week), with a substantial rise in generation from Center to South areas, reaching an increase by 73.7% in Charrúa! The system wide wind plant factor was 24.6%, the highest plant factor was seen in Charrúa (46.2%), while the lowest was registered in Crucero (15.8%).

BESS injections dropped by 3.3 GWh, a 6.0% decline compared to last week. Crucero had the highest injection of 45.5 GWh, while the lowest was in Pan de Azúcar, with 40 MWh.

This week curtailment rate was 17.4% for wind and 25.5% for solar, reaching an average curtailment rate of 22.2%, a rise of 2.8 pp (or 41.8 GWh) relative to last week.