Venezuela aims to reduce electricity demand by 1,000MW

Friday, July 18, 2014

Venezuela aims to reduce national electricity demand by 1,000MW this year, power minister Jesse Chacón said in a ministry release on Friday.

The plan includes reducing the Venezuelan public sector's electricity consumption by 290MW through power use supervision and gaining 700MW in energy savings by installing 20mn energy efficient light bulbs and 60,000 energy efficient air conditioners.

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Chacón's announcement follows reports that the Venezuelan government plans to reduce electricity subsidies. Venezuela's current electricity subsidies cover approximately 80% of the cost to residential users, according to previous government statements.

Venezuela experiences frequent blackouts on its national SEN grid. Current challenges may be compounded further by the possibility of an El Niño meteorological event this year. El Niño typically reduces rainfall in Venezuela. The nation derives the majority of its power from hydroelectric plants.

BNamericas will host its fourth LatAm Power Generation Summit in Santiago, Chile, on August 13-14. Click here to download the agenda.