Ratings agency Fitch believes that Chilean energy companies will likely be able to absorb losses resulting from the earthquake and tsunami that hit the central-south region of Chile on February 27.
 
Industry profitability ratios, however, may be moderately affected during the next few quarters, the ratings agency said in a research note.
 

Chile's central SIC grid is operating at 59% of normal demand, energy minister Marcelo Tokman told journalists after an emergency meeting with economic ministers and the heads of state oil company Enap, Banco del Estado and state development agency Corfo.

 
"Obviously normal demand is much higher than what we are seeing at the moment, but yes, we have better news today," Tokman said. "We are advancing rapidly towards a normal situation. In the hardest hit areas coordination has allowed great advances. "
 

Chile's power grid continues to be fragile after the massive 8.8-magnitude quake that killed over 700 people in the early hours of February 27, energy minister Marcelo Tokman said at a press conference in Santiago.