Chilean utility holding company Enersis SA's (ENI, ENERSIS.SN) third-quarter net profit dropped to 144.0 billion Chilean pesos ($291.1 million), from CLP173.9 billion for the same period in 2009, the company said Wednesday.

Profits were hurt by higher power generation costs as Enersis had to rely on more expensive thermal generation because hydroelectric generation was curtailed in Chile and Colombia on reduced rainfall, the company said.

Enersis, which is owned by Spain's Endesa SA (ELEZF, ELE.MC), is active in the power generation, transmission and distribution businesses in Argentina, Brazil, Chile, Colombia and Peru.

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