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VOL 12 | NUM 37 | 6 April 2026
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CHILE | 23 - 29 March 2026
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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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DNV offers tools for Wholesale Market analysis and operation:
- DNV Power Analytics (DNV-PA) is our web-based platform that provides access to constantly updated long-term energy price forecasts.
- With a refined design and an improved user experience we are upgrading our digital services for our customers.
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USD 0/MWh prices were seen on Wednesday night in northern nodes
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The average price in Polpaico reached 42.38 USD/MWh, which was 19% lower than last week and 49% lower compared to one year ago.
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Marginal cost evolution in Polpaico during past years
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This week, a higher participation in the generation mix was seen for solar (+2.1 pp) and wind (+1.6 pp), likely leading to a decrease of the thermal sources share: gas by 2.6 pp and coal by 0.3 pp. Hydro sources also decreased their participation: run-of-river by 0.6 pp and dam by 0.5 pp.
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The weekly peak demand of the system reached 10.8 GW on Monday at 8 PM, with wind and solar covering 22.8% of total output at that hour, while BESS accounted for 4.3%. BESS injections reached their maximum at 1.8 GW on Friday at 10 PM.
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Generation Mix
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Variation
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Power range by energy sources (average prices)
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Geothermal
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Cogeneration
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Biomass
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Coal
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Gas
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Oil
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BESS
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Dam
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Run-of-river
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Wind
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PV Solar
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CSP
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Maintenance works continue on the 500 kV Nueva Pan de Azúcar - Polpaico line, which caused the line to congest everyday except on Sunday, decoupling the system from Pan de Azúcar to the north and from Polpaico to the south.
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Due to the limitations in this line, a particular event happened in the system, when the line congested on Wednesday night. At the time BESS were injecting energy into the system, wind resource was high in both the Crucero and Pan de Azúcar areas, and gas and coal power plants were operating at technical minimum. This translated in renewables setting the price for the northern nodes, which caused a 15-min period of USD 0/MWh at night-time, between 20:25 and 20:40, according to CEN register.
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Regarding the southern area of the SEN, Puerto Montt decoupled as usual due to congestion on the 220 kV Lastarria-Ciruelos line, although on this occasion the event was limited to a few hours on Wednesday and Sunday.
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Crucero
USD 32.3/MWh
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Cardones
USD 31.6/MWh
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Pan de Azúcar
USD 31.3/MWh
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Polpaico
USD 42.4/MWh
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Charrúa
USD 42.0/MWh
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Puerto Montt
USD 44.6/MWh
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Solar and Wind production & BESS dispatch
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Solar generation increased this week by 30.1 GWh, with the greatest increase being in the Polpaico area (+39.7 GWh). The highest plant factor was seen in the Charrúa area with 26.1% while the lowest was in the Crucero area with 13.9%. The system-wide solar plant factor was of 18.5%.
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Wind also increased its generation by 29.9 GWh, with the greater increase seen in the Charrúa area (+19.8 GWh). The highest plant factor was perceived in the Puerto Montt area with 28.1% while the lowest one was in the Cardones area with 13.2%. The system-wide solar plant factor was of 21.0%.
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In terms of BESS injections, they increased by 2.9 GWh, with the Crucero area leading the injections with 67.0 GWh.
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The curtailment rates of the week were 10.7% for wind (28.4 GWh) and 19.8% for solar (108.2 GWh), reaching a weighted average curtailment rate of 16.6% (1.4 pp lower than last week).
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Crucero
USD 2.5/MWh
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Cardones
USD 1.9/MWh
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Pan de Azúcar
USD 1.3/MWh
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Polpaico
USD 23.8/MWh
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Charrúa
USD 22.6/MWh
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Puerto Montt
USD 38.1/MWh
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Energy weighted average spot price using PV production by zone
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Crucero
USD 26.4/MWh
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Cardones
USD 36.6/MWh
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Pan de Azúcar
USD 35.3/MWh
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Polpaico
USD 51.5/MWh
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Charrúa
USD 43.6/MWh
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Puerto Montt
USD 36.5/MWh
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Energy weighted average spot price using wind production by zone
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BESS discharge capture price
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Crucero
USD 54.9/MWh
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Cardones
USD 54.2/MWh
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Pan de Azúcar
USD 56.6/MWh
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Polpaico
USD 53.5/MWh
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Charrúa
USD 49.2/MWh
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Energy weighted average spot price using BESS discharge by zone
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BESS charge capture price
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Crucero
USD 0.8/MWh
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Cardones
USD 0.2/MWh
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Pan de Azúcar
USD 0.0/MWh
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Polpaico
USD 23.8/MWh
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Charrúa
USD 34.1/MWh
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Energy weighted average spot price using BESS charge (both from co-located power plant and from grid) by zone
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DNV, Magdalena 181, Las Condes, Santiago, Chile
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