Chile has limited indigenous energy resources, importing most of its hydrocarbons, which account to over 65 percent of total primary energy supply (PES), and therefore achieving energy security and affordability are key priorities for the energy sector. Despite a stable business environment and investor-friendly regulations, Chile has faced several energy related difficulties in the last decade (including drought, dependency on imported fossil fuel, and insufficient of liquefied natural gas), which contributed to an inadequate and relatively inefficient energy supply with high marginal costs and electricity prices. The country had reached high price levels and volatility that were diminishing its competitiveness, in particular in the mining sector.