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VOL 13 | NUM 2 | 31 July 2026
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CHILE | 20 - 26 July 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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BESS charge reaches 3 GWh in a single hour!
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The average price at Polpaico was USD 41.7/MWh, 5% higher than last week and 43% lower than the same week last year.
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Marginal cost evolution in Polpaico during past years
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In this week’s generation mix, run-of-river, solar, and dam increased their shares by 1.6 pp, 1.0 pp, and 1.2 pp, respectively, while wind’s share fell by 1.6 pp. Among thermal sources, coal and gas reduced their shares by 2.9 pp and 0.9 pp, respectively. BESS participation rose by 1.4 pp.
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A second week of rain helped improve conditions for hydro sources, a welcome development in an otherwise dry year.
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The system’s peak output occurred on Tuesday at 12 PM, reaching 11.9 GW. The highest BESS participation was recorded on Saturday at 9 PM, when injections accounted for 23.4% of system output. The highest BESS withdrawal was recorded on Sunday at 11 AM, when the batteries withdrew 3 GW from the system to charge, marking a new record. The highest combined solar and wind participation occurred on Saturday at 3 PM, reaching 57.7% of system output.
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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 across the reference nodes were generally aligned, although recurring congestion caused decouplings in the northern and southern zones.
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In the north, congestion in the 500 kV Nueva Pan de Azúcar - Polpaico reduced prices at the northern reference nodes.
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In the south, Puerto Montt decoupled repeatedly due to congestion in the 220 kV Lastarria - Ciruelos and 220 kV Charrúa - Santa Clara, with prices rising above the rest of the system in the former case and falling below it in the latter. Congestion in the 500 kV Charrúa - Ancoa also decoupled Charrúa and Puerto Montt from the rest of the system, lowering prices in both nodes.
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Oil-fired plants set the marginal price in Puerto Montt on Monday, Tuesday, and Friday. The highest reference price was USD 326.1/MWh in Puerto Montt at 10 AM on Tuesday, set by the oil-fired Trapén plant.
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Crucero
USD 37.3/MWh
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Cardones
USD 37.6/MWh
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Pan de Azúcar
USD 38.1/MWh
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Polpaico
USD 41.7/MWh
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Charrúa
USD 32.1/MWh
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Puerto Montt
USD 50.8/MWh
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Solar and Wind production & BESS dispatch
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Solar generation increased by 9.2% | 19.5 GWh relative to last week. The highest solar plant factor was 14.3% in Crucero, while the lowest was 4.2% in Charrúa. The system-wide solar plant factor was 10.4%.
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Wind generation decreased by 6.5% | 22.6 GWh. The highest wind plant factor was 32.0% in Charrúa, while the lowest was 23.6% in Polpaico. The system-wide wind plant factor was 28.3%.
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BESS injections increased by 27.4% | 24.5 GWh, with the largest volume recorded in the Crucero zone, totaling 86.2 GWh.
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Curtailment reached 3.3% | 10.9 GWh for wind and 4.5% | 13.9 GWh for solar, resulting in a combined system-wide curtailment rate of 3.8%, down 7.7 pp from last week.
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Crucero
USD 26.5/MWh
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Cardones
USD 25.4/MWh
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Pan de Azúcar
USD 27.9/MWh
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Polpaico
USD 34.8/MWh
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Charrúa
USD 41.5/MWh
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Puerto Montt
USD 120.3/MWh
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Energy weighted average spot price using PV production by zone
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Crucero
USD 39.5/MWh
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Cardones
USD 32.1/MWh
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Pan de Azúcar
USD 36.9/MWh
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Polpaico
USD 45.5/MWh
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Charrúa
USD 23.8/MWh
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Puerto Montt
USD 30.8/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 48.0/MWh
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Cardones
USD 49.7/MWh
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Pan de Azúcar
USD 50.3/MWh
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Polpaico
USD 52.0/MWh
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Charrúa
USD 39.0/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 25.5/MWh
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Cardones
USD 22.7/MWh
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Pan de Azúcar
USD 25.1/MWh
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Polpaico
USD 30.7/MWh
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Charrúa
USD 29.4/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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