The Chilean National Energy Commission (CNE) has decided to postpone the 2023 electricity auction by approximately four months, citing potential discrepancies in demand projections that could impact the volume of supply available for bidding.
The delay comes in response to a discrepancy notice filed by Engie Energia Chile SA, raising concerns about demand projections outlined in the final auction report. Resolving this discrepancy holds the potential to modify demand projections, consequently influencing the overall electricity volume to be traded between power producers and distributors as part of the auction.
Initially set at 5,400 GWh per year, the total volume of electricity was revised downwards to 5,000 GWh in October. The primary objective of the auction is to secure ample supplies for distribution companies, ensuring a sustainable power source for residential and SME customers over a 20-year period, starting from 2027-2028.
In light of the discrepancy, the updated timetable now sets April 9, 2024, as the new deadline for proposal submissions, a shift from the initial date of December 13, 2023. The CNE asserts that this extension aims to afford potential bidders sufficient time to prepare their offers given the evolving circumstances.
Adjustments have been made to the schedule for the rest of the auction process. Envelopes containing economic offers are slated to be opened on May 2, 2024. The awards day for the first phase of the auction is scheduled for May 8, with a provision for a second-phase award round on May 14, should it be deemed necessary.
