Introduction to the Chilean power sector

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1 Introduction to the Chilean power sector Carlos Finat Diaz Executive Director - ACERA Santiago, March 2014

2 ACERA

3 Content Profile of the power sector of Chile and current issues. Policies and the program of the new government. Renewable energy.

4 Power systems of Chile Preparado por Empresas Eléctricas AG

5 Size of the Chilean power market is about the size of the electrical demand of Minesotta, but unlike Minesotta, the growth of power demand in Chile is closely related to economic growth. Demand is estimated to have a yearly growth of 4 ~ 5% over the next years.

6 Power generation is highly dependent on fossil fuels 55% of the SIC 99.7 of the SING Imports of fossil fuels (2012) Crude oil 96,35% Natural gas 74,76% Coal 94,38%

7 Market structure The role of the Chilean State is restricted to regulation and control of the market. Vertically unbundled in three areas: Generation market driven development. Transmission development partially regulated and planned. Distribution regulated development and planning. All investments are carried out by private agents.

8 Market structure Large customers (> 2 MW) can buy energy at the wholesale market. Home and SME customers buy energy to distribution companies. Distribution companies buy energy at the wholesale market, through competitive, long term tenders. Spot market operates under a Locational Marginal Price system. There is a Independent System Operator for each SIC and SING, who is responsible for: The coordinated optimal operation of Gx and Tx The operation of the spot market

9 Market structure A highly concentrated generation market has resulted so far. Herfindahl Index (HHI): SIC: Main players: ENDESA, AES Gener y Colbún SING: Main Players: Suez, AES Gener y ENDESA An HHI of or more denotes a highly concentrated market

10 Current Issues Empowered communities

11 Current Issues Interests of market agents and market signals are not aligned. Delays on investments in the trunk (main) transmission system.

12 Current Issues High prices and low availability of PPA

13 Energy program of the new government Short term To accelerate the projects under construction To obtain LNG for the unused available capacity of combined cycle units. Energy efficiency and saving improvements. Implementation of demand reduction compensation schemes. NCRE

14 Medium and Long term Development of a participative planning process for the Energy sector. Improvements of the transmission system regulatory framework. NCRE promotion. Energy efficiency Institutional strengthening. Improvement of market competence. Territorial Planning

15 Non Conventional Renewable Energies (NCRE)

16 NCRE insertion goals Two legal regimes coexist: Law , with a goal of 10% by 2024 The recent Law , with a goal of 20% by2025 Nueva Ley : Only applies to contract signed after July 1st, 2013

17 Effect of the NCRE laws The law has been effective: 5.9% of the total power generation in 2013 came from NCRE sources

18 NCRE status at Feb 14 Type Operating Under construction Environmental permit approved Applying to Environmental permit Mini Hydro Wind Bioenergy Solar Geotherm Total MW

19 and.. In 2013, 5.9% of the total electric power generation came from NCRE sources.

20 A positive scenario exists for NCRE Huge stock of projects. Price of NCRE is competitive.

21 But relevant barriers for the development of NCRE are restraining the industry Access to the transmission system. Access to contracts (PPA) with large customers and distribution companies. Economic risks caused by restrictions of the transmission system. Land usage restrictions coming from mining rights Etc.

22 A possible scenario for the development of NCRE in the long term to comply with /25 Note: this chart is shown only as one illustrative scenario of the potential development of NCRE in the Chilean system. It is not a forecast or a probable scenario.

23 Carlos Finat D. Executive Director - ACERA Electrical Engineer Operations and Tolls Director - CDEC-SING Energy Manager Minera Collahuasi Member of the Board of the CDEC-SING President of the Board - CDEC-SING carlos.finat@acera.cl Linkedin:

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