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VOL 12 | NUM 49 | 26 June 2026
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CHILE | 15 - 21 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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Power plant failures pushed SEN prices to weekly highs above USD 300/MWh
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The average price in Polpaico was USD 99.3/MWh, up 2.3% from last week and down 28.4% from the same week one year ago.
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Marginal cost evolution in Polpaico during past years
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This week, the thermal generation share increased by 0.7 pp, driven by rises in gas and oil of 1.4 pp and 0.6 pp, respectively, while coal decreased by 1.3 pp its share in comparison to last week.
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Hydro also reduced its share, with both dam and run-of-river declining by 0.1 pp and 0.4 pp, respectively. Dam variable costs increased from USD 72/MWh to USD 106/MWh in one week, reflecting lower water availability due to ongoing dry conditions.
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Solar share increased by 1.3 pp this week, while wind share decreased by 1.6 pp.
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Generation peaked at 12.4 GW on Wednesday at 11 AM, with solar and wind accounting for 38.2% of the total output at that hour.
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BESS share in the system peaked at 8 PM on Sunday, representing 20.8% 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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This week, several hours registered marginal costs above USD 300/MWh, reaching a peak of around USD 344/MWh on Tuesday at 10 AM in Puerto Montt. At that time, the oil-fired power plant Antilhue (Unit 1) was setting the marginal price. During these high-price hours, Puerto Montt was decoupled from the rest of the system due to a congestion on the 220 kV Lastarria – Ciruelos line.
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On the other hand, on Wednesday afternoon there was a failure at the Campiche coal-fired power plant. This event, combined with the earlier outage of Atacama TV1 and low hydro levels in the system, pushed marginal costs above USD 300/MWh during solar hours. The peak in Polpaico occurred at 5 PM, reaching USD 318/MWh, with the Los Guindos oil-fired power plant setting the marginal cost for the entire system.
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In addition, the 500 kV Nueva Pan de Azúcar – Polpaico line experienced congestion almost every day this week, except on Sunday.
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Crucero
USD 88.2/MWh
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Cardones
USD 90.2/MWh
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Pan de Azúcar
USD 92.4/MWh
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Polpaico
USD 99.3/MWh
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Charrúa
USD 97.6/MWh
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Puerto Montt
USD 133.5/MWh
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Solar and Wind production & BESS dispatch
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Solar output increased by 8.4% | 20.6 GWh compared to last week. Regarding the plant factor, the highest was 16.3% in Cardones, while the lowest was 3.9% in Puerto Montt. The system-wide solar plant factor was 12.0%.
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Wind generation decreased this week by 10.8% | 31.6 GWh relative to last week. The highest plant factor was 27.9% in Crucero, while the lowest was 12.7% in Polpaico. The system-wide wind plant factor was 22.6%.
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BESS showed an increase in injections of 7.7% | 6.7 GWh, and an increase in charges by 9.4% | 8.8 GWh, relative to last week. Additionally, based on the hourly BESS dispatch profile, injections occured predominantly before midnight, resulting in a significant reduction in BESS injections during the early morning hours. Also they keep increasing their injections to the system, with a record reached this week of 2.3 GW at 9 PM on Sunday.
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This week, curtailment rates reached 3.2% | 9.6 GWh for wind and 5.3% | 20.7 GWh for solar. This resulted in a combined system-wide curtailment rate of 4.4%, which represents an increase of 3.1 pp relative to last week.
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Crucero
USD 48.3/MWh
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Cardones
USD 49.3/MWh
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Pan de Azúcar
USD 47.3/MWh
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Polpaico
USD 60.1/MWh
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Charrúa
USD 65.7/MWh
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Puerto Montt
USD 151.9/MWh
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Energy weighted average spot price using PV production by zone
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Crucero
USD 86.2/MWh
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Cardones
USD 99.1/MWh
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Pan de Azúcar
USD 71.2/MWh
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Polpaico
USD 93.3/MWh
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Charrúa
USD 82.2/MWh
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Puerto Montt
USD 97.3/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 94.8/MWh
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Cardones
USD 100.2/MWh
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Pan de Azúcar
USD 106.3/MWh
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Polpaico
USD 115.0/MWh
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Charrúa
USD 86.9/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 44.7/MWh
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Cardones
USD 51.9/MWh
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Pan de Azúcar
USD 51.1/MWh
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Polpaico
USD 74.0/MWh
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Charrúa
USD 99.2/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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