Venezuela Power Q4 2018
There has not been any improvement to the outlook for Venezuela's beleaguered power industry, and prospects for themarket remain extremely poor. Power cuts are an increasingly common occurrence as Venezuela's reliance on hydropower (whichaccounts for around 70% of electricity generated in the country) leaves the network vulnerable to droughts. Transmission anddistribution equipment failure is also common after a long period of mismanagement and underinvestment, resulting in dailyunscheduled outages that are exacerbating supply disruptions. State interference in the power sector means that there is littlescope for renewed private or foreign investment in the market and, as a result, our forecasts for generation and capacity growthremain subdued.
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