Boston, MA -- (SBWIRE) -- 01/23/2015 -- Chile will remain one of the most attractive power markets in Latin America over the next 10 years, due to its strong electricity consumption figures, driven by the country's expanding consumer base and energy-intensive mining industry. Moreover, a solid business environment and liberalised electricity sector continue to contribute to our positive outlook for the country. While hydropower expansion will be reined in by regulatory and environmental hurdles, renewables and natural gas-fired power generation will experience considerable growth and create significant investment opportunities over our 10-year forecast period.

Although Chile's economic growth in 2014 and 2015 will be lower than previously expected (1.95% and 2.55% respectively, compared to 2.5% and 3.2%), we forecast real GDP to pick up over the medium term, increasing by an annual average rate of 4.19% between 2016 and 2023. Moreover, power demand from mining activities in the country will remain robust between 2014 and 2023, as we expect Chile's abundant reserves to continue attracting investment and boosting growth in the sector - although at a lower rate than in the past .Finally, we expect Chile's total population to increase from 17.77mn in 2014 to 19.04mn in 2023.

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In light of these factors, we forecast electricity consumption to grow by an annual average rate of 4.51% between 2014 and 2023, reaching a total of more than 94 terawatt hours (TWh) by the end of our ten-year forecast period to 2023. Meanwhile, total power generation will increase by an annual average rate of 5.02% over the next decade, reaching 112TWh by 2023.

Key Trends And Developments

- In May 2014 the country's newly-elected president Michelle Bachelet announced a USD650mn investment plan aimed at reducing electricity costs (an ongoing source of concern for the mining industry) and fostering investment in unconventional energy sources. The energy strategy outlines plans to reduce marginal electricity costs on...

The Chile Power Report features Business Monitor International (BMI)'s market assessment and independent forecasts covering electricity generation (coal, gas, oil, nuclear, hydro and non-hydro renewables), electricity consumption, trade, transmission and distribution losses and electricity generating capacity.

The Chile Power Report also analyses the impact of regulatory changes, recent developments and the background macroeconomic outlook and features competitive landscapes comparing national and multinational operators by sales, market share, investments, projects, partners and expansion strategies.

Key Benefits

- Use BMI's independent industry forecasts for Chile to test other views - a key input for successful budgeting and strategic planning in the power market.

- Target business opportunities and risks Chile's power sector through our reviews of latest power industry trends, regulatory changes, and major deals, projects and investments in Chile

- Assess the activities, strategy and market position of your competitors, partners and clients via our Competitive Landscape analysis.

Coverage

BMI Industry View

Summary of BMI's key industry forecasts, views and trend analysis, covering power markets, regulatory changes, major investments, projects and company developments.

Industry SWOT Analysis

Analysis of the major Strengths, Weaknesses, Opportunities and Threats within the power sector, and within the broader political, economic and business environment.

Regional Overview

The Regional Overview provides a comparative context from within which one can assess the relative profitability of the power industry in a given country, incorporating BMI's country risk macro forecasts into our regional analysis. They also detail any relevant issues or events that might cause market fluctuations, as well as evaluate the impact of existing power infrastructure and fresh investments on the regional market.

BMI Industry Forecasts

The Industry Forecasts provide historic data series and forecasts to end-2018 for electricity generation (TWh) and electricity generating capacity (MW) for each individual power segment present in the country. These forecasts are in turn supported by explicit assumptions, in conjunction with analysis of the key risks to the main forecast. These in turn are broken down into:

Electricity Generation forecasts for Thermal, Coal, Gas, Oil, Nuclear, Hydro and Non-Hydro Renewables. For this section, we provide information on electricity generation (TWh), % growth year-on-year, KWh per capita, and the % of total electricity generation. The thermal fuels (coal, gas and oil) also have figures for their % of total thermal electricity generation.

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