DUBLIN--(BUSINESS WIRE)--Research and Markets(http://www.researchandmarkets.com/research/909a2c/chile_power_report) has announced the addition of the "Chile Power Report Q4 2011" report to their offering.
BMI View:
Chile is faced with a dilemma in terms of its energy strategy. Repeated drought-related power shortages resulting from overdependence on hydro-electric sources mean diversification is necessary. Gas-fired generation is the preferred short-to-medium-term option, but scares over gas supplies to the country mean this a dangerous route to follow.
While nuclear isn't yet on the agenda, it may have to play a role in order to provide adequate energy security.
Legislation passed in 2008 requires renewable energy to account for at least 10% of the energy supplied by Chile's electric utilities by 2024. Power providers are required to integrate wind, solar and small hydro-power into the supply progressively, increasing the amount to meet the 10% target or face fines.
Following an expected increase in real GDP of 5.9% in 2011, BMI forecasts average annual growth of 4.0% between 2011 and 2020. The population is expected to rise from 17.3mn to 17.9mn during 2011- 2020, and net power consumption looks set to increase from 58.8TWh in 2011 to 70.5TWh by 2015, rising further to 87.8TWh by 2020.
During 2011-2015, the average annual growth rate for electricity demand is forecast at 4.76%, but it should slow later in the decade to average 4.54% in 2016-2020.
Thanks partly to the forecast rise in net generation, growth of which exceeds slightly the underlying demand trend, Chile's power supply shortfall is likely to shrink steadily as new capacity kicks in. A gradual decline in the percentage of transmission and distribution losses from about 6.4% will help balance the market. There is no theoretical net import requirement by 2015, with scope for very modest net exports by 2020.
Companies Mentioned:
- AES
- Colbún
- Enersis/Endesa
- Pacific Hydro
- Suez/Tractebel
- Transelec
For more information visit http://www.researchandmarkets.com/research/909a2c/chile_power_report.