On July 17, 2026, the National Energy Commission ("CNE") approved, through Exempt Resolution No. 364/2026, the Final Terms and Conditions of the National and International Public Tender for the Supply of Electric Energy and Capacity intended to serve customers subject to regulated electricity tariffs.

The tender comprises two fifteen-year Supply Blocks: SB1, for 1,575 GWh per year, covering the period from January 1, 2029, to December 31, 2043; and SB2, for 1,260 GWh per year, covering the period from January 1, 2030, to December 31, 2044, representing an aggregate volume of 2,835 GWh per year. Each Supply Block is structured into four Zonal Blocks and three Time Blocks and includes a Base Component and a Variable Component equivalent to 5% of the Base Component. The Final Terms and Conditions replace the Preliminary Terms and Conditions approved by Exempt Resolution No. 292 of June 9, 2026, incorporating the amendments resulting from the comments received during the consultation process and the CNE's subsequent technical review.

• Main provisions and key changes from the Preliminary Terms and Conditions

The official call for tender was postponed from July 1 to July 20, 2026, with the corresponding adjustment of the subsequent milestones detailed below. From a substantive perspective, the supply structure remains substantially unchanged from the Preliminary Terms and Conditions. The Final Terms and Conditions maintain the supply volumes for SB1 and SB2, the division into three time blocks (A: 11:00 p.m.–7:59 a.m.; B: 8:00 a.m.–5:59 p.m.; and C: 6:00 p.m.–10:59 p.m.), the Offer Delivery Points at Atacama, Alto Jahuel, Charrúa and Melipulli (all at 220 kV), the exclusion of coal, petroleum coke (petcoke), diesel oil and No. 6 fuel oil as primary backup fuels, and the eligibility of energy storage systems as valid backup resources.

Eligible participants include Chilean or foreign legal entities, either individually or as members of a consortium composed of two or more legal entities whose members shall be jointly and severally liable. At least one consortium member must purchase the Tender Terms and Conditions as a prerequisite for participation. Credit rating requirements are addressed in a separate section of the Terms and Conditions.

Regarding supply continuity, the Final Terms and Conditions extend from 36 to 48 months the maximum period during which the Supplier may be required to continue supplying energy and capacity under the same contractual conditions if the CNE approves an early termination request due to the Supplier's breach of contract (Section 3.7(l), Chapter 1).

With respect to New Generation Projects, Annex 18 introduces an additional requirement for bidders relying on such projects. If the Supplier chooses financing arrangements that do not include the Financial Close instruments regulated in Section 2.1 of Annex 18—namely, the Financial Close Certificate and the Administrative Agent's confirmation—it must execute and submit a backup agreement at least 18 months before the Maximum Date. The Final Terms and Conditions also confirm that the Maximum Date corresponds to the supply commencement date where more than 50% of the awarded supply is backed by New Generation Projects, and to 12 months after such commencement date in all other cases.

Finally, the award mechanism and the economic conditions of the supply contract remain materially unchanged. The tender will be awarded in two stages. During the first stage, the combination of bids that minimizes the weighted average Levelized Price for the relevant Supply Block will be selected. If the total volume offered is not fully awarded, a second-stage auction will be conducted among the bidders that successfully passed the administrative evaluation. The Reserve Price will be determined by the CNE through a confidential administrative decision and will only be disclosed upon the opening of the Financial Bids.

• Key dates and milestones

The public call for tender was published on July 20, 2026, formally launching the procurement process. The principal milestones are set out below:

Si requiere información adicional sobre esta materia, contactar a Francisco López (flopez@jdf.cl) o Eduardo Silva (esilva@jdf.cl).