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Energy Policies Beyond Iea Countries

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Energy Policies Beyond Iea Countries ENERGY POLICIES BEYOND IEA COUNTRIES Chile 2018 Secure Sustainable Together INTERNATIONAL ENERGY AGENCY The International Energy Agency (IEA), an autonomous agency, was established in November 1974. Its primary mandate was – and is – two-fold: to promote energy security amongst its member countries through collective response to physical disruptions in oil supply, and provide authoritative research and analysis on ways to ensure reliable, affordable and clean energy for its 29 member countries and beyond. The IEA carries out a comprehensive programme of energy co-operation among its member countries, each of which is obliged to hold oil stocks equivalent to 90 days of its net imports. The Agency’s aims include the following objectives: n Secure member countries’ access to reliable and ample supplies of all forms of energy; in particular, through maintaining effective emergency response capabilities in case of oil supply disruptions. n Promote sustainable energy policies that spur economic growth and environmental protection in a global context – particularly in terms of reducing greenhouse-gas emissions that contribute to climate change. n Improve transparency of international markets through collection and analysis of energy data. n Support global collaboration on energy technology to secure future energy supplies and mitigate their environmental impact, including through improved energy efficiency and development and deployment of low-carbon technologies. n Find solutions to global energy challenges through engagement and dialogue with non-member countries, industry, international organisations and other stakeholders. IEA member countries: Australia Austria Belgium Canada Czech Republic Denmark Estonia Finland France Germany Secure Greece Sustainable Hungary Together Ireland Italy Japan Korea Luxembourg Netherlands New Zealand Norway Poland Portugal Slovak Republic © OECD/IEA, 2018 Spain International Energy Agency Sweden Website: www.iea.org Switzerland Turkey United Kingdom Please note that this publication United States is subject to specific restrictions that limit its use and distribution. The European Commission The terms and conditions are also participates in available online at www.iea.org/t&c/ the work of the IEA. ENERGY POLICIES BEYOND IEA COUNTRIES Chile 2018 Foreword The International Energy Agency (IEA) has been conducting in-depth country reviews since 1976. It is a core activity and the process of review by peers not only supports member countries’ energy policy development and mutual learning, but it also encourages the exchange of international best practice and experience. In short, by seeing what has worked – or not – in the “real world,” these reviews help to identify FOREWORD policies that achieve objectives and bring results. In 2016, the IEA decided to modernise the reviews by shifting their focus to key energy security challenges in fast-changing global energy markets, and to the transition to a clean energy system. Occasionally, and upon request, the IEA also conducts these peer reviews for Partner countries. This second in-depth review of Chile’s energy policies takes stock of the progress in Chile’s energy policy since the 2009 IEA review. Chile’s energy policy has evolved dynamically in recent years. In response to changes in the domestic and international environment, significant institutional and policy reforms as well as major infrastructure projects have been carried out. The National Energy Policy 2050 was adopted in 2015, and the electricity sector, in particular, has developed quickly. Chile has also emerged as a world-class destination for investment in solar and wind energy. As the new administration prepares to take over the helm of energy policy in March 2018, it is my hope that this review and its policy recommendations will prove useful as a reference point for policymakers and stakeholders alike. The IEA will be delighted to continue this policy dialogue which started with the first in-depth review in 2009 and to continue supporting Chile in its quest for a secure, affordable and environmentally sustainable transformation of its energy sector and economy. Dr. Fatih Birol Executive Director International Energy Agency 3 ENERGY INSIGHTS Executive summary .........................................................................................................11 Launching new institutions and a new long-term energy policy........................................11 Building a low-carbon national electricity system ..............................................................12 Limiting energy-related CO2 emissions .............................................................................13 Realising the energy efficiency potential ...........................................................................14 Ensuring efficient and clean use of firewood ....................................................................15 Improving oil security .........................................................................................................16 TABLE OF CONTENTS OF TABLE Key recommendations .......................................................................................................16 1. General energy policy .................................................................................................17 Country overview ...............................................................................................................17 Economic overview ............................................................................................................19 Energy supply and demand ...............................................................................................19 Institutions ..........................................................................................................................24 Energy policy objectives ....................................................................................................30 Key legislation....................................................................................................................35 Assessment .......................................................................................................................38 Recommendations .............................................................................................................43 References ........................................................................................................................43 ENERGY SECURITY 2. Oil ..................................................................................................................................45 Overview ............................................................................................................................45 Supply and demand ...........................................................................................................46 Infrastructure......................................................................................................................49 Industry structure/retail sector ...........................................................................................52 Prices and taxes ................................................................................................................53 5 TABLE OF CONTENTS Emergency response policy ..............................................................................................54 Assessment .......................................................................................................................56 Recommendations .............................................................................................................57 References ........................................................................................................................57 3. Natural gas ...................................................................................................................59 Overview ............................................................................................................................59 Supply and demand ...........................................................................................................60 Institutions ..........................................................................................................................62 Regulatory framework .......................................................................................................63 Industry and market structure ............................................................................................64 Infrastructure......................................................................................................................66 Prices .................................................................................................................................71 Security of supply ..............................................................................................................73 Assessment .......................................................................................................................73 Recommendations .............................................................................................................75 References ........................................................................................................................76 4. Coal ...............................................................................................................................77
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