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Aug. 7, 2003 -- Venezuela's government plans to spend $1.5 billion between 2004 and 2010 adding thermoelectric power plants to the country's overtaxed national grid, state-run Venpres news agency reported Wednesday.
The moves, if implemented, will help avoid a looming crisis as electricity demand has been outpacing the development of supply, forcing the country to buy power from private providers.
The majority of Venezuela's power currently comes from the Guri hydroelectric complex in eastern Bolivar state.
Edelca, the state power company in Guri, provides about 70 per cent of the country's electricity needs, which totaled 89 562 GWh last year, 2.8 per cent higher than in 2001.
Government officials have blamed the power shortfall mostly on record-low reservoir levels due to insufficient rainfall last year.
Power demand is leveling off this year, in tandem with a shrinking economy which contracted 29per cent in the first quarter.
In the first five months of this year electricity demand fell to 35 928 GWh, about 1.8 per cent less than 36 605 GWh in the same period last year, according to the local electricity chamber.
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