Insights & News
Renewable Power Market in Chile, March 2022
Based on information provided by Chile’s National Electric Coordinator, information on the renewable power market is provided below.
During the last 12 months, the amount of energy from renewable sources, particularly solar and wind power, has continued to increase.
During March 2022, solar power generated 51% (1,266,904 MWh) more than in March 2021 (837,809 MWh), and wind power generated 53% (740,254 MWh) more than in the same month of the previous year (484,474 MWh). On the other hand, generation from thermal sources decreased by 10% this month compared to the same month of the previous year. Total generation in March 2022 was 2% higher than in March 2021.
If we analyze in detail the solar and wind generation during the last 12 months, the total generated and its share in Chile’s generation market has increased, as shown in Graphs 2 and 3. In March 2022, solar power generated had a 18% share of the national total, while 12 months ago this share was close to 12%.
On the other hand, Graph 4 shows the evolution of energy prices throughout Chile. During 2020, the average price was approximately 40 USD/MWh, while for the last 12 months this value is approximately 96 USD/MWh.
For solar hours, considered between 8:00 and 18:00 hrs, the average price during 2021 was approximately 49 USD/MWh at Crucero substation (Northern Chile) and 58 USD/MWh at Quillota substation (Central Chile). During 2020 these values were 32 and 34 USD/MWh respectively for each substation. In March, the price was between 61 and 64 USD/MWh in Quillota and Crucero respectively.
