Strong market position in Chile's Northern Interconnected System (SING), with a 54% market share in terms of installed power generating capacity Well balanced and efficient power generation capacity between coal- and natural gas-fired units Large portfolio of long-term power sale contracts with solid counterparties Contracted sale price mechanism that allows to pass-through higher fuel costs to its customers Strong demand for power from large and competitive mining projects Favorable debt structure Strong ownership High competitive pressures from other large power generators Significant exposure to operating risk due to its high level of contracted sales Volatile market conditions in the SING due to potential operational disruptions in a context of high contracted sales and highly volatile operating cost and spot market
