Embassy of Korea in Chile – Ms. Kleinsy Bonilla, Specialist in Energy and Mining Alcántara 74, las Condes, Santiago – (+56-2) 2228-4214, [email protected]
ENERGY AND MINING
NEWS REPORT
The Ministry of Energy released a study in which several actors of the sector contributed to depict scenarios for the non conventional renewable energy –NCRE in the country.
According to the Executive Secretary of the National Commission of Energy, Mr. Andrés Romero, currently only 5% of NCRE as injected to the two major electric systems of Chile, the Central and the Northern systems. This contrast with the projections presented in the referred study, which suggest that ERNC could represent up to 40% of the national energy matrix. The Ministry of Energy follows a more conservative figure. This institution believes that by the year 2029 the energy matrix of Chile will show a 20%
incorporation of NCRE, particularly solar and wind generated .
Source: http://www.latercera.com/noticia/negocios/2016/08/655-692597-9-sistema-electrico- puede-integrar-mas-de-40-de-ernc-de-forma-eficiente.shtml
Chilean electric system can incorporate more than 40% of NCRE in an efficient manner
Argentina and Bolivia declare exploitation of lithium a priority, threatening Chilean leadership
The promising prospects of lithium prices thanks to the generalization of electric cars started to became a reality with investments for over US$5,000 millions by the gigantic battery manufactory company Telsa Motors, in Nevada, USA.
Since 2010 the prices of this mineral has grown by five folds while the case of cupper has fallen dawn 14% within the last 18 months.
Chile possess over 50% of the world reserves of lithium is expected to be one of the nations benefitted by this prices increase, however the lack of precise and clear regulations to exploit this resource as well as technology limitations might hinder Chile´s prospects. In addition, neighboring competitor countries such as Argentina and Bolivia have declared lithium a top priority in their respective policies. The debate about how keep in the competition is in motion in Chile.
Source: https://www.df.cl/noticias/empresas/mineria/argentina-y-bolivia-definen-al-litio-como- prioridad-y-amenazan-liderazgo/2016-08-19/210627.html
A historical record was registered during the electric tender developed during July-August 2016 in Chile. The 12.430GWh/year allocated reached an average price of US$47.5 MWh, which is 40% down from the US$79,3 achieved in the 2015 tender. The Government estimates that electricity prices would show a nearly 20% reduction by 2021.
There were 84 participants, from them only 9 received contracts.
The lower prices obey to regulatory changes, more competitions, assertiveness in the bidders and more presence of NCRE.
Minister of Energy, Maximo Pacheco projects investments for about US$3,000 million after the completion of the tender.
Particularly for wind and solar energy generation projects which achieved a share of 52% from the 12,430 GWh/year in the process.
Source: http://www.economiaynegocios.cl/noticias/noticias.asp?id=281594
Latest Electric tender in Chile brought
prices down to an average of US$47,5 MWh
2016, Aug u st 1s t – 31s t
Embassy of Korea in Chile, 2016 Sources: Various authors, newspapers: El Mercurio, La Tercera,
Diario Financiero. August, 2016th
The energy sector is considered one of the best performances in the Government of Chile for the period 2014-2017.
Minister Maximo Pacheco has promoted structural reforms in the sector which have included regulatory updating, introduction of further competition to lower energy prices and diversification of the energy matrix.
Increasing the presence of NCRE remains a top priority for the authorities along with the incorporation of more actors in the generation, transmission and distribution of electricity. In parallel further investments in energy infrastructure is being promoted.
Source: http://www.latercera.com/noticia/negocios/2016/08/655-692927-9-maximo- pacheco-cuando-hay-competencia-las-firmas-deben-revisar-sus-margenes.shtml
Ministry of Energy Maximo Pacheco explains that lower energy prices arrived in Chile to remain stable in time
Regulatory reforms to facilitate the establishment of gas based energy generation projects continue as part of the discussion amongst legislators in Chile. Minister of Energy, Maximo Pacheco expressed the efforts of the Government of Chile to make the country less dependent on imports of energy, and more sovereign in the composition of its energy matrix.
Source: http://www.latercera.com/noticia/negocios/2016/08/655-694694-9-gobierno-alista- indicaciones-para-proyecto-de-ley-de-gas.shtml
Government of Chile continues process to increase
the share of gas in its energy matrix Ministry of Public Works defined calendar of concession for the 2016-2018 period
The Ministry of Public Works defined the calendar for 11 projects to be allocated through a public tender. These projects contemplate an investment of US$ 4.149 million. A system for aerial mobilization (cable car), different roads, airports and highways are part of the prospects. Some of the projects have remained in the portfolio for several years; authorities expect to be able to turn them into a reality.
Source: http://www.latercera.com/noticia/nacional/2016/08/680-694675-9-mop- define-calendario-de-los-11-proyectos-a-concesionar-en-ultima-etapa-del.shtml
