There
is an urgent need to shift global energy production to renewable forms so as to
ensure that the world is caused no more harm by ill effects that arise due to
use of non-renewable forms of energy. Chile has a goal of producing majority of
its national energy by renewable forms in order to ensure a hospitable and
sustainable environment to live in. In 2015, Chile joined the international
community and promised to reduce its overall greenhouse gas emissions. Chile is
a regional leader when it comes to promoting the use of renewable forms of
energy which makes it very popular amongst countries who wish to expand their
business into untapped potential.
According
to the study, ‘Hydropower
in Chile, Market Outlook to 2030, Update 2018 - Capacity, Generation, Investment
Trends, Regulations and Company Profiles’, some of the major companies
that are currently operational in the Chilean hydropower industry include
Pacific Hydro Pty Ltd., Hidroelectrica Guardia Vieja S.A., Enel Generacion
Chile SA, Duke Energy International, LLC, Colbun S.A., AES Gener S.A. an
HydroChile S.A. All these companies have begun their operation in the Chilean
industry and hold a high share in the industry in terms of volume of sales.
Chile has witnessed strong economic growth in the recent years which is coupled
by an increasing demand for electricity especially in the northern region.
Mitigation Plans and Action Scenarios (MAPS) is collaboration between Chilean
states which aims to reduce the overall greenhouse gas emissions. This initiative
could make Chile a leader in hydro power generation. Chile is investing in huge
upgradation of its technology in order to climb the ladder of market dominance
in hydropower projects and to deal with the problem of climate change. Some of
the technologies in which huge progress is being recorded include baseline
analysis, mapping technologies and synergies for rapid technological response
to climate change.
The
hydropower consumers in Chile can be basically divided into two broad
categories. These include the regulated and the unregulated market. Unregulated
market includes those consumers which have a high demand and thereby giving
them the right to negotiate bilateral transactions with the power suppliers.
The regulated markets are the consumers which have low demand and hence cannot
negotiate the prices and re compulsorily required to pay distribution costs and
sur charge cost as well.
In
the regulated market, the prices of electricity are derived from the spot price
of energy over the next couple of years. Usually, in hydropower projects there
are initial fluctuations in products which are gradually phased out over time
and hence this was the reason a long time frame has been prescribed for such
projects. The prices are then fixed for a period of two months and are revised
twice in a year, once in the month of April and Once in November.
The
overall hydropower industry in Chile is expected to grow in the future. This
statement is supplemented by various support projects that have been taken up
by the government and other organizations in order to promote the electricity
generation via hydropower. The companies that are wishing to enter this market
needs to understand the huge capital investment that is required in this
sector.
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Ken
Research
Ankur
Gupta, Head Marketing & Communications
0124-4230204
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