Venezuela Power Report Q3 2018
Venezuela's power sector remains on a sharp downward trend. Output from the key hydropower sector has slumpedover the first quarter of 2018, exacerbating supply issues in parts of the country and contributing to widespread power outages. Inthe thermal power sector, which plays a key role as a stable baseload against variable hydropower output, the dwindling capacity ofVenezuela's refineries means that both natural-gas and oil fired power plants are likely to see output fall. Losses from the crumblingtransmission and distribution network are also increasing, with failing equipment an additional cause of blackouts. While thecountry's ongoing recession means consumption demands have waned, particularly from industrial users, the current network isunable to keep up with even the more limited demand. Without major and far-reaching market reforms, which in the currentpolitical climate are highly unlikely, Venezuela's power sector will remain characterised by failures, power rationing and widespreadoutages over the months and potentially years to come.
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