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VOL 12 | NUM 48 | 19 June 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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Remember IE Mejillones (IEM)? It's back in gas form
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The average price in Polpaico was USD 97.1/MWh, which is 2.3% higher than last week but 21.2% lower compared to one year ago.
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Marginal cost evolution in Polpaico during past years
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Hydro and thermal generation decreased their participation in the energy mix relative to the last week, while renewables increased.
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Hydro share decreased, despite a rise in run-of-river by 0.4 pp, due to a fall in dam by 0.7 pp.
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Thermals declined their participation mainly due to a fall in coal by 1.7 pp, along with decreases in gas by 1.1 pp and oil by 0.1 pp.
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Renewables increased their share in the mix overall. Wind increasing by 5.0 pp, although solar decreased by 1.7 pp.
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Peak demand was 13.0 GW at 12 PM on Wednesday, with solar and wind accounting for 44.0% of the generation.
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BESS participation peaked at 8 PM on Monday with 17.1%.
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This week marked an important milestone: following its conversion from coal to gas, Infraestructura Energética Mejillones (IEM) began testing to resume operations and injections into the grid.
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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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Prices were mostly coupled during the week, although 3 main lines experienced congestion throughout the period.
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The 220 kV Lastarria - Ciruelos line was congested during Monday morning, while the 220 kV Charrúa - Santa Clara line was congested in the early morning on Friday. This congestion decoupled prices in Puerto Montt from the system.
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The 500 kV Nueva Pan de Azúcar - Polpaico line experienced congestion during the early morning throughout the workweek, resulting in a decoupling of prices from Polpaico towards the south.
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The weekly peak price among the reference nodes was registered on Monday at 11:30 AM, when the price was set by oil-fired power plant Chiloé, reaching USD 344.1/MWh at Puerto Montt.
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The peak price exceeds the programmed price in magnitude, although the timing was correctly projected, according to the operation defined by the CEN.
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Crucero
USD 83.3/MWh
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Cardones
USD 85.4/MWh
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Pan de Azúcar
USD 87.5/MWh
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Polpaico
USD 97.1/MWh
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Charrúa
USD 94.9/MWh
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Puerto Montt
USD 98.1/MWh
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Solar and Wind production & BESS dispatch
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Solar injection decreased its system-wide plant factor by 1.1 pp compared to last week, reaching 11.0%. The highest plant factor was 13.3% in Cardones zone while the lowest was in Charrúa area with 4.5%.
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Wind injection increased its system-wide plant factor by 8.3 pp compared to last week, reaching 25.3%. The highest plant factor was in Cardones zone with 41.4%, while the lowest was in Pan de Azúcar area with 8.4%.
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BESS decreased its system-wide injections by 1.3 GWh compared to last week, reaching a total of 86.5 GWh. The largest decline was observed in Pan de Azúcar zone with a reduction of 4.2 GWh, while the largest increase occurred in Cardones area with an additional 4.2 GWh.
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The combined curtailment rate for solar and wind generation decreased by 0.5 pp compared to last week, reaching 1.5%. Solar curtailment reached 2.0% | 6.0 GWh while wind curtailment was 1.0% | 2.8 GWh.
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Crucero
USD 48.9/MWh
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Cardones
USD 45.3/MWh
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Pan de Azúcar
USD 45.7/MWh
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Polpaico
USD 68.4/MWh
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Charrúa
USD 66.9/MWh
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Puerto Montt
USD 78.4/MWh
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Energy weighted average spot price using PV production by zone
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Crucero
USD 90.9/MWh
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Cardones
USD 75.3/MWh
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Pan de Azúcar
USD 80.6/MWh
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Polpaico
USD 86.0/MWh
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Charrúa
USD 92.4/MWh
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Puerto Montt
USD 95.3/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 114.7/MWh
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Cardones
USD 129.0/MWh
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Pan de Azúcar
USD 106.0/MWh
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Polpaico
USD 128.6/MWh
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Charrúa
USD 120.6/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 45.3/MWh
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Cardones
USD 48.2/MWh
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Pan de Azúcar
USD 66.1/MWh
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Polpaico
USD 77.4/MWh
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Charrúa
USD 93.3/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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