Chilean power generator Empresa Nacional de Electricidad SA's (EOC, ENDESA.SN) third-quarter net profit fell to 143.0 billion Chilean pesos ($289.2 million) from CLP177.9 billion last year, the company reported Wednesday.

The company attributed the steep drop in profit to increased spot-energy purchases in Chile as hydroelectric production was reduced, lower selling prices for energy in Chile, and as higher fuel costs in Argentina.

Endesa, through its operations in Argentina, Chile, Colombia and Peru, has an installed capacity of 13,864 megawatts, with 57.6% coming from hydroelectric generation, 41.8% from coal, gas or diesel, and the remainder from wind.

Endesa is owned by the Chilean energy holding company Enersis SA (ENI, ENERSIS.SN), which in turn is owned by Spain's Endesa SA (ELEZF, ELE.MC).

-By Anthony Esposito, Dow Jones Newswires; 56-2-715-8929; anthony.esposito@dowjones.com