“Chile is a great country. Almost an island in South America, surrounded by mountains, desert and ocean, it has consistently pursued market-oriented economic policies for many decades, marking it out from its neighbors. Earlier this month Chile’s electricity regulator announced the results of the country’s largest ever electricity supply auction for over 3GW of capacity. True to Chile’s principles, the auction was open to all generators, incumbents and new entrants, fossil and renewable, domestic and foreign. The auction was won, comprehensively, by renewable energy generators who out-competed the incumbents, and squeezed out new gas plant.”