Weekly Market Analytics Chile Vol 12 Num 5

VOL 12 | NUM 5 | 22 August 2025

Power Markets Weekly

CHILE | 11 - 17 August 2025

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Glossary

An increase in solar and wind shares contributed to a sharp decline in gas participation

Global SEN operation

The average price in Polpaico was USD 42.5/MWh, which is 11% higher than last week but 6% lower compared to one year ago.

Marginal cost evolution in Polpaico during past years

This week, the total generation recorded a slight decrease, accompanied by an increase in the share of renewables, which led a decline the participation of thermal generation.

Renewables increased their share, driven primarily by solar and wind, which rose by 1.4 pp and 2.9 pp, respectively. However, other renewables technologies such as dam and BESS, experienced slight reductions in their participation, each decreasing by 0.2 pp.

On the other hand, thermal generation had a significant decline in its share. Although coal increased by 0.4 pp, this was outweighed by a sharp 4.3 pp drop in gas generation.

Peak demand occurred on Tuesday at 11 AM, reaching 11.4 GW. At that time, renewables were supplying 75.6% of the peak demand.

Generation Mix

Variation

Power range by energy sources (average prices)

Learn more about this chart

Generation evolution

Geothermal

Cogeneration

Biomass

Coal

Gas

Oil

BESS

Dam

Run-of-river

Wind

PV Solar

CSP

This week, the system experienced decouplings due to congestion of four main transmission lines.

The 500 kV Nueva Maitencillo – Nueva Pan de Azúcar line was congested on Monday and Tuesday mornings, as well as during the solar hours on Monday and Thursday.

The 220 kV Charrúa – Santa Clara line was congested during Monday night and early Wednesday morning.

The 220 kV Lastarria – Ciruelos was congested on Tuesday, Wednesday and Thursday mornings.

Finally, the 500 kV Nueva Pan de Azúcar – Polpaico line was congested on Sunday morning.

The peak price reached up to USD 245.9/MWh in Puerto Montt on Tuesday at 1 PM, when Trapén oil power plant was setting the marginal cost. At that time, thermals accounted for 23.6% of the total generation: gas contributed 12.1%, coal 11.0% and oil 0.6%.

Marginal cost evolution

Crucero
USD 35.1/MWh

D. de Almagro
USD 35.0/MWh

Pan de Azúcar
USD 39.7/MWh

Polpaico
USD 42.5/MWh

Charrúa
USD 41.2/MWh

Puerto Montt
USD 45.7/MWh

Solar and Wind production & BESS dispatch

Solar generation increased its average system plant factor by 1.1 pp compared to last week, reaching 18.0%. The highest plant factor was in Crucero with 23.8%, while the lowest was in Puerto Montt with 10.6%.

Wind generation also increased its average system plant factor, but this time by 4.3 pp compared to last week, reaching 21.2%. The highest plant factor was in Pan de Azúcar with 24.8% and the lowest was in Charrúa with 15.4%.

BESS injections totaled 39.9 GWh, a decrease of 3.4 GWh compared to last week. The highest injections were in Crucero with 32.0 GWh, while the lowest were in Pan de Azúcar with 29.0 MWh.

The average curtailment rate declined by 2.4 pp compared to last week, reaching 14.9%, which is composed by a solar curtailment rate of 17.7% | 72.7 GWh and a wind curtailment rate of 10.4% | 26.4 GWh.