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VOL 12 | NUM 50 | 3 July 2026
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CHILE | 22 - 28 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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Record in hourly BESS participation and thermal unavailability mark the week.
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Polpaico price continues to the rise reaching USD 104.5/MWh, meaning a 5% increase compared to last week, and only 8% lower than the same week last year.
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Marginal cost evolution in Polpaico during past years
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In terms of the generation mix, this week saw an increase in solar and wind participation by 2.7 pp and 1.7 pp, respectively, which, added to some thermal unavailabilities, led to decreases in thermal participation: gas by 1.7 pp, coal by 1.2 pp and finally oil by 0.5 pp. Dam also suffered a decrease in its participation, which reflects the current draught in the system, reaching an average variable cost higher than gas, with low dam levels, similar to those seen at the same week of 2023.
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Peak demand was registered at 1 PM on Monday with 12.5 GW. At the time, solar and wind represented 60.8% of the generation mix.
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Marking a new milestone for BESS in the system, battery injections reached a record participation of 21.4% of total system generation at 8 PM on Sunday.
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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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In terms of the transmission, main congestions were as follows:
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- 500 kV Nueva Pan de Azúcar – Polpaico line congested everyday at solar hours except from Sunday decoupling the system north of Polpaico.
- 500 kV Charrúa – Ancoa line congested on the early-morning of Tuesday momentarily decoupling the system from Charrúa to the south.
- 220 kV Lastarria – Ciruelos line congested on Monday, Tuesday and Sunday during solar hours, forcing operation of oil-fired power plants in the Puerto Montt area to meet the demand.
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Marginal costs exhibited unusual peaks this week, driven by the unavailability of Atacama power plant to operate its gas-fired units (from the previous Saturday until Thursday), together with the outage of Campiche (coal) since the previous Wednesday. Consequently, the system operated with higher-cost gas and coal units and at times relying on oil-fired generation to meet demand. As a result, prices remained elevated during non-solar hours between Tuesday and Thursday.
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The highest prices in the reference nodes (aside from Puerto Montt) were registered at 11 PM of Thursday and ranged from USD 302/MWh in Charrúa to USD 320/MWh in Crucero. As Puerto Montt decoupled on Monday and Tuesday, its weekly peak price was registered at 10 AM of Monday reaching USD 335/MWh.
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Crucero
USD 85.0/MWh
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Cardones
USD 85.2/MWh
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Pan de Azúcar
USD 85.8/MWh
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Polpaico
USD 104.5/MWh
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Charrúa
USD 102.5/MWh
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Puerto Montt
USD 128.5/MWh
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Solar and Wind production & BESS dispatch
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Solar generation increased this week by 51.0 GWh (+19% compared to last week) with Cardones and Pan de Azúcar areas presenting the highest average plant factors with 17.8% and 17.6%, respectively, while the lowest was registered at Puerto Montt with only 5.5%. The weekly system-wide plant factor of PV was 14.3%.
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Similarly, wind generation also increased this week, by 32.6 GWh (+13% compared to last week) with Pan de Azúcar and Polpaico areas presenting the highest average plant factors with 50.3% and 52.5%, respectively, with the lowest registering in Crucero area with only 6.8%. The weekly system-wide plant factor of wind was 25.4%.
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In terms of BESS, they suffered a 1.0% decrease in output (-0.7 GWh compared to last week) with the main decrease seen in the Polpaico area with 1.8 GWh less of injections.
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Crucero
USD 22.6/MWh
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Cardones
USD 21.0/MWh
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Pan de Azúcar
USD 21.4/MWh
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Polpaico
USD 57.5/MWh
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Charrúa
USD 61.3/MWh
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Puerto Montt
USD 161.1/MWh
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Energy weighted average spot price using PV production by zone
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Crucero
USD 90.0/MWh
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Cardones
USD 63.9/MWh
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Pan de Azúcar
USD 86.9/MWh
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Polpaico
USD 108.1/MWh
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Charrúa
USD 87.1/MWh
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Puerto Montt
USD 120.6/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 117.7/MWh
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Cardones
USD 129.6/MWh
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Pan de Azúcar
USD 102.0/MWh
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Polpaico
USD 135.0/MWh
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Charrúa
USD 110.1/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 23.0/MWh
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Cardones
USD 20.1/MWh
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Pan de Azúcar
USD 13.1/MWh
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Polpaico
USD 74.8/MWh
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Charrúa
USD 93.1/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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