Post - Articles
Venezuelan President Hugo Chavez has said that his government is ending the national electricity rationing that started in January and has hindered the country’s efforts to climb out of recession. Previously, electricity cuts of up to six hours a day had been imposed on most parts of the country, damaging Chavez’s popularity ahead of the elections in September.
World Future Energy Summit (WFES) 2025
Venezuela relies on hydropower for about 70 per cent of its power generation. Recent rains have raised levels at its main reservoirs after months of drought, compounded by high consumption and distribution problems.
There remains a lack of generating capacity. The Venezuelan government has been pressing forward with a plan to install 5000 MW of mostly thermal generation. However, to date just 235 MW of this had been installed. In addition, if successful, this strategy will weigh heavily on the country’s finances. As well as planning to spend $5 billion this year on importing the equipment, the generators will use fuel that would otherwise have been exported to bring in foreign revenue.