Electricity in Venezuela in 2023

In 2023, Venezuela's electricity consumption has been dominated by low-carbon energy sources, with hydropower contributing more than three-quarters, or about 78%, of the electricity generation. Fossil fuels make up the remaining 22%, with gas being the primary contributor in this category at around 15%. This reliance on hydropower places Venezuela in a strong position regarding low-carbon electricity generation, as the country leverages its abundant water resources to produce clean energy and help reduce greenhouse gas emissions. However, it's important to recognize that maintaining this high level of clean energy generation requires continuous attention to infrastructure and resource management, as well as exploring additional low-carbon options to secure the energy supply.

Suggestions

To increase its low-carbon electricity generation, Venezuela could look to diversify its low-carbon energy sources by adopting additional types of clean technologies such as nuclear, wind, and solar power. Learning from countries like France and Ukraine, which have successfully incorporated a substantial proportion of nuclear energy into their total electricity generation (68% and 55%, respectively), can provide valuable insights. Moreover, Argentina's efforts in wind energy, contributing around 10% to their electricity production, highlight the potential of leveraging wind resources for diversification. Argentina and Uruguay's solar initiatives also offer a blueprint for expanding into solar energy, which could complement Venezuela's hydropower foundation and reduce the reliance on fossil fuels further, promoting sustainable growth and climate change mitigation.

History

Throughout its history, Venezuela has been heavily dependent on hydropower for electricity generation. In the late 1980s and early 1990s, there were significant increases in hydropower output, driven by substantial infrastructure developments, as seen in years like 1985, 1987, and 1991, with increments of around 3 to 8 TWh each. The early 2000s saw similar growth, with the years 2004 and 2005 experiencing notable additions to the hydropower capacity. However, starting from 2010, there was a trend of decline in hydropower generation, with significant drops in 2010, 2015, and 2016. These fluctuations underscore the importance of reliable and diversified low-carbon energy sources that can ensure energy security and sustain environmental commitments. To counter such volatility and risks of over-reliance on a single source, Venezuela might consider enhancing its energy mix with other low-carbon options like nuclear and renewable technologies. Overall, diversifying the energy portfolio remains indispensable for sustainable development.

Electricity Imports and Exports

Balance of Trade

Data Sources