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VenEconomy: The chaos is there for all to see



 

Back in 2008, analysts warned the country that the lack of investment and maintenance in the electricity sector, along with the discontinuation of projects that were already on the drawing board, posed a threat to the national electricity system. But the government turned a deaf ear to those warnings. What is worse, it made the situation even more complicated by nationalizing private electricity companies, merging others without prior analyses, dismantling the entire existing electricity structure, and promoting the deprofessionalization of the sector.

Today, the electricity situation in Venezuela is not only going from bad to worse, but the Hugo Chávez administration is finding it increasingly difficult to hide the fact that the debacle in the electricity system is a direct consequence of its unbelievably bad policies for the sector.

So far there is no evidence to indicate that any progress has been made with the electricity plans announced by the regime and no one has explained to the country where some $50 billion spent on the sector by the government since 1999 have ended up.

The only certainty as far as electricity in Venezuela is concerned is that the crisis is not over; on the contrary, it is becoming more acute.

This is borne out by reports in the press today of denouncements from different sector sources on the problems that still persist in the generation, transmission, and distribution of electricity: 1) the problems at Guri Hydroelectric Power Station, which is operating at 75% of its capacity and has five of its generating units irremediably damaged owing to the lack of maintenance; 2) Josefa Camejo Thermoelectric Power Station, which supplies the central western region of the country with electricity, is experiencing problems due to the incompatibility of controls; and 3) the power lines in many areas are insufficient and those that are available are in a very poor state.

Unfortunately, while the country is gradually grinding to a halt, the government insists, irresponsibly, on refusing to address the roots of the problem.

 


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VenEconomy has been a Venezuela's leading specialized publisher on financial, political and economic data since 1982. VenEconomy's Points of View on the issues of the day, as seen by VenEconomy during the last week. Petroleumworld does not necessarily share these views.

Editor's Note: This commentary was originally published by Veneconomy , on Nov. 07, 2011. Petroleumworld reprint this article in the interest of our readers.


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Petroleumworld News 11/08/2011

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