Commodity Market Report
Southern Cone gas and power markets short-term outlook: balance starts softening
Report summary
The significant improvement in hydrology reduced electricity supply risks in Brazil for the next six months. However, the current situation is far from comfortable as the average national reservoir levels remained at 26%. The better supply conditions have driven a new reduction in power prices to R$88/MWh, the lowest level in 2021. On the other side, hydrological prospects deteriorated in Chile and power prices reached nearly US$70/MWh, also reflecting the current spike in international fuel benchmarks, especially coal. Such conditions favour thermal players with access to Argentinian gas, which can leverage the cheaper gas to displace generation from coal and LNG. In Bolivia, the production start-up of Incahuasi 5 well has supported the country to overcome the Margarita-X3 operational issue. Now, YPFB can develop new trading opportunities with its neighbor countries in the short term.
Table of contents
- No table of contents specified
Tables and charts
No table or charts specified
What's included
This report contains:
Other reports you may be interested in
Commodity Market Report
Southern Cone gas and power short-term outlook: March 2024
Monthly report analysing the gas and power fundamentals and prices in Argentina, Brazil, Chile and Bolivia until December 2025.
$2,000
Commodity Market Report
Southern Cone gas and power short-term outlook: February 2024
Monthly report analysing the gas and power fundamentals and prices in Argentina, Brazil, Chile and Bolivia until December 2025.
$2,000
Commodity Market Report
Southern Cone gas and power short-term outlook: January 2024
Monthly report analysing the gas and power fundamentals and prices in Argentina, Brazil, Chile and Bolivia until December 2025.
$2,000