National assembly approves draft power law

- Friday, June 18, 2010

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Venezuela's national assembly has approved the draft version of a new power law that aims to coordinate policy across the country's national grid, the institution announced in a statement.

The law aims to promote the use of diversified energy sources across the grid and will give a special push for the development of thermo capacity.

Further research into renewable power sources such as wind and solar will also be endorsed as part of the law, as will the creation of a unified government regulator to coordinate policy across the country.

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The body that drafted the law, the assembly's energy and mines commission, will now undertake a period of consultation with industry experts in order to create a final draft over the coming months.

Venezuela is just emerging from a six-month power crisis due to declining water levels at the country's dams.

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