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VOL 12 | NUM 39 | 18 April 2026
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CHILE | 6 - 12 April 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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The weekly peak price remains below USD 100/MWh
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The average price in Polpaico was USD 45.4/MWh, which is 18.2% higher than last week but 56.6% lower compared to one year ago.
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Marginal cost evolution in Polpaico during past years
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Hydro generation remained stable in its partcipation in the energy mix compared with last week, while thermals increased and renewables decreased.
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Hydro share remained similar, despite a fall in run-of-river by 0.4 pp, due to a rise in dam by 0.5 pp.
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Thermals increased their participation mainly due to a rise in gas by 2.5 pp, along with a slightly increase in oil by 0.3 pp. However, coal declined by 1.7 pp.
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Renewables reduced their share in the mix overall. Solar decreasing by 4.4 pp, although wind increased by 2.3 pp.
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Peak demand was 10.9 GW at 2 PM on Thursday, with solar, wind and CSP accounting for 66.6% of the generation.
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BESS participation peaked at 10 PM on Saturday with 19.6%.
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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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The 500 kV Nueva Pan de Azúcar – Polpaico line experienced congestion during the early morning throughout the week, except on Sunday. In addition, the line was congested on Saturday night and Sunday afternoon. The congestion consistently resulted in a decoupling of prices from Polpaico toward the south.
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The weekly peak price between the reference nodes was registered on Tuesday at 6:00 AM, when the price was set by dam generation plants (Ralco), reaching USD 84.3/MWh at Crucero.
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The peak price differs both in magnitude and timing from the programmed operation defined by the CEN.
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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 31.4/MWh
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Polpaico
USD 45.4/MWh
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Charrúa
USD 44.8/MWh
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Puerto Montt
USD 46.0/MWh
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Solar and Wind production & BESS dispatch
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Solar injection decreased its system-wide plant factor by 3.9 pp compared to last week, reaching 15.3%. The highest plant factor was 20.1% in Charrúa zone while the lowest was in Puerto Montt area with 10.8%.
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Wind injection increased its system-wide plant factor by 6.5 pp compared to last week, reaching 26.9%. The highest plant factor was in Charrúa zone with 38.7%, while the lowest was in Polpaico area with 12.8%.
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BESS decreased its system-wide injections by 3.9 GWh, reaching a total of 78.3 GWh. The largest decline was observed in Crucero zone with a reduction of 5.2 GWh, while the largest increase occurred in Cardones area with an additional 6.9 GWh.
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Cerro Dominador continued injecting energy into the system, totaling 2.7 GWh during the week.
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The combined curtailment rate for solar and wind generation increased by 0.1 pp compared to last week, reaching 12.6%. Solar curtailment reached 16.4% | 75.6 GWh while wind curtailment was 7.2% | 21.8 GWh.
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Crucero
USD 2.5/MWh
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Cardones
USD 2.1/MWh
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Pan de Azúcar
USD 1.4/MWh
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Polpaico
USD 32.1/MWh
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Charrúa
USD 34.4/MWh
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Puerto Montt
USD 34.8/MWh
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Energy weighted average spot price using PV production by zone
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Crucero
USD 30.3/MWh
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Cardones
USD 35.1/MWh
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Pan de Azúcar
USD 35.0/MWh
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Polpaico
USD 48.0/MWh
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Charrúa
USD 42.3/MWh
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Puerto Montt
USD 46.7/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 52.1/MWh
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Cardones
USD 52.6/MWh
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Pan de Azúcar
USD 50.6/MWh
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Polpaico
USD 53.5/MWh
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Charrúa
USD 46.6/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 1.5/MWh
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Cardones
USD 0.9/MWh
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Pan de Azúcar
USD 0.6/MWh
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Polpaico
USD 34.3/MWh
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Charrúa
USD 44.9/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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