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VOL 12 | NUM 40 | 24 April 2026
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CHILE | 13 - 19 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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500 kV Nueva Pan de Azúcar - Polpaico line fully operational, yet congestion is still present
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The average price in Polpaico was USD 43.3/MWh, down 5% from last week and 57% lower than the same week one year ago.
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Marginal cost evolution in Polpaico during past years
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In this week generation mix, thermals share remained stable, with a 1.0 pp increase in coal while gas and diesel fell by 0.3 pp, each.
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Hydro sources registered an increase in their share, mainly due to a 2.4 pp rise in dam with an additional 0.2 pp increase of run-of-river generation.
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On the other hand, wind and solar presented a mixed behavior, with a decline in wind by 3.5 pp while solar increased its share by 1.2 pp.
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Generation peaked at 11.0 GW on Tuesday at 1 PM, with solar, wind and CSP accounting for 69.6% of the total output at that hour.
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BESS share in the system peaked at 7 PM on Sunday, representing 18% of the total output at that hour.
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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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Decoupling of prices was registered everyday of the week apart from Sunday, mainly due to the 500 kV Nueva Pan de Azúcar - Polpaico line being recurrently congested during solar hours, despite the reestablishment of its normal operation (which was interrupted due to maintenance work that started last month, resulting in one circuit being taken out of service at a time), with both circuits currently in service since Monday of this week.
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220 kV Lastarria - Ciruelos line also congested on Tuesday and Wednesday during solar hours, decoupling Puerto Montt from the rest of the system. The congestion event on Tuesday, led to three different prices across the system for a short period of time due to the system also being decoupled at the same time from Polpaico to the south, further pushing prices upward in Puerto Montt.
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Peak price of the week across reference nodes was recorded in Puerto Montt on Tuesday at 11:30 AM, reaching USD 237.2/MWh with the oil-fired power plant Trapén setting the price at that moment.
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Crucero
USD 37.3/MWh
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Cardones
USD 37.5/MWh
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Pan de Azúcar
USD 37.7/MWh
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Polpaico
USD 43.3/MWh
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Charrúa
USD 42.6/MWh
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Puerto Montt
USD 46.7/MWh
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Solar and Wind production & BESS dispatch
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Solar output increased by 4.0% | 13.2 GWh compared to last week. Regarding the plant factor, the highest was 20.7% in Cardones, while the lowest was 11.6% in Puerto Montt. The system-wide solar plant factor was 15.9%.
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Wind generation registered a major decline by 22.0% | 59.3 GWh relative to last week. The highest plant factor was 39.4% in Cardones, while the lowest was 8.0% in Polpaico. The system-wide wind plant factor was 21.1%.
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BESS injection showed an overall decrease of 3.0% | 2.3 GWh, mainly due to a decline in discharges by 3.3 GWh and 2.7 GWh in Crucero and Polpaico, respectively. Additionally, based on the hourly BESS dispatch profile, injections occur predominantly before midnight, resulting in a significant reduction in BESS injections during the early morning hours
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This week, curtailment rates reached 7.2% | 16.9 GWh for wind and 10.7% | 47.1 GWh for solar. This resulted in a combined system-wide curtailment rate of 9.3%, which represents a decrease of 3.3 pp relative to last week.
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Crucero
USD 5.6/MWh
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Cardones
USD 5.1/MWh
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Pan de Azúcar
USD 3.9/MWh
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Polpaico
USD 14.4/MWh
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Charrúa
USD 12.2/MWh
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Puerto Montt
USD 22.5/MWh
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Energy weighted average spot price using PV production by zone
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Crucero
USD 33.3/MWh
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Cardones
USD 43.6/MWh
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Pan de Azúcar
USD 43.1/MWh
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Polpaico
USD 54.2/MWh
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Charrúa
USD 44.5/MWh
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Puerto Montt
USD 44.7/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 57.4/MWh
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Cardones
USD 60.1/MWh
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Pan de Azúcar
USD 11.3/MWh
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Polpaico
USD 58.9/MWh
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Charrúa
USD 56.4/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 4.3/MWh
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Cardones
USD 2.1/MWh
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Pan de Azúcar
USD 10.9/MWh
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Polpaico
USD 20.1/MWh
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Charrúa
USD 34.4/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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