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    Martin Arancet • Balanz

    Martin Arancet's questions to Enel Chile SA (ENIC) leadership

    Martin Arancet's questions to Enel Chile SA (ENIC) leadership • Q1 2025

    Question

    Martin Arancet of Itaú BBA asked about Enel Chile's grid resilience program, the status of the full-year CapEx guidance, and the potential financial impact from upcoming regulatory changes for BESS and electricity subsidies.

    Answer

    CEO Giuseppe Turchiarelli confirmed the resilience program's CapEx was included in the existing strategic plan. CFO Simone Conticelli reaffirmed the full-year CapEx guidance, noting spending is weighted towards the second half of the year. Turchiarelli added that while it is too early to quantify the impact of BESS ancillary services regulation, he expects it to be a positive complement, and estimated the proposed CO2 tax changes could add approximately $15 million in costs.

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    Martin Arancet's questions to Enel Chile SA (ENIC) leadership • Q4 2024

    Question

    Martin Arancet inquired about the status of the government's potential revocation of the distribution concession, the CapEx plan for 2025, and the commercial strategy for battery storage, specifically regarding arbitrage versus PPA integration.

    Answer

    CEO Giuseppe Turchiarelli stated that no formal process to revoke the concession has begun and noted legal protections exist for force majeure events. He explained the battery business model relies on energy shifting and capacity payments, with ancillary services expected to add a future revenue stream. CFO Simone Conticelli outlined the 2025 CapEx plan of just under $800 million, with $500 million for development, primarily for hybrid BESS projects.

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    Martin Arancet's questions to Enel Chile SA (ENIC) leadership • Q2 2024

    Question

    Martin Arancet inquired about the potential impact of strengthening Santiago's electrical grid on CapEx, the specifics of recent tariff hikes for households, and the remuneration structure for the new El Manzano and La Cabaña battery projects.

    Answer

    CEO Giuseppe Turchiarelli noted recent weather events incurred ~$3 million in costs and discussions with regulators are ongoing. He detailed the July tariff hikes, which vary by customer consumption levels. For the battery projects, he explained that revenue currently comes from capacity payments and energy shifting, with ancillary services revenue pending new regulations.

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