Lowest bid in electric auction reaches $21.48/MWh

The bid was submitted by Enel GeneraciA3n Chile, a subsidiary of Italian energy giant Enel. The second lowest bid was presented by GPG Solar Chile, a unit of Spanish company Gas Natural Fenosa. At the auction, 2,200 GWh will be allocated, successful bids will be publicly announced on November 3rd.

Solar - Nov 2, 2017

Enel Generación Chile (EGC) has submitted the lowest bid in the framework of a national and internation public tender for the supply of electricity. Enel bid for 2.2 GWh of generation.

According to Reuters, EGC’s bid was $21.48/MWh, while the second lowest came from GPG Solar, which bid $24.80/MWh for the same block. “With these prices we will certainly have important signals for a more productive, competitive economy, so that the price is also increasingly reflected in the price electricity,” Chilean Energy Minister Andrés Rebolledo told Reuters.

The tender received 24 offers in total, bids will be publicly awarded on November 3rd. The tender will select projects on a ‘technology neutral’ basis. Projects selected must meet the energy needs of customers of the Central and Northern Great Interconnected Systems for 20 years, and be completed by January 1st 2024.

This year’s auction, similar to the one held last year, has a system of time-block allocation, to allow greater entry for solar plants. In last year’s tender, the lowest bid price obtained was $47.6/MWh.

Source : Enel Generación Chile

Published on Global Energy World: Nov 2, 2017