Enel Chile is a Chilean electricity utility that generates and distributes power exclusively in Chile. On the generation side, Enel Chile operates 76 power plants with roughly 8,900 MW of net installed capacity — about 22% of Chile's national grid — with 78% of that capacity coming from renewables (hydro, wind, solar, geothermal) and the rest from gas and diesel thermal plants. Enel Chile sells power under long-term contracts to regulated distribution companies and large industrial customers, with roughly 94% of generation volumes contracted. On the distribution side, Enel Chile operates through Enel Distribución Chile, the largest electricity distributor in Chile, serving roughly 2.2 million customers across 33 municipalities in the Santiago Metropolitan Region under a government concession. Distribution tariffs are fully regulated, and the business earns a regulated margin above its cost of purchased electricity. Enel Chile is majority-owned by Enel, the Italian multinational utility. Generation drives roughly 70% of revenues, with distribution contributing most of the rest. Key earnings drivers include hydrology (hydro plants carry near-zero variable cost, but dry years force costly spot purchases), contract pricing, and gas cost management — Enel Chile holds long-term LNG supply contracts and can generate incremental margin trading surplus gas. Growth investment is focused on adding battery energy storage systems (BESS) alongside existing solar plants and upgrading the distribution grid, with $1.8B in capex planned for 2026-2028.