Electricity in Venezuela in 2022

In 2022, Venezuela's electricity consumption was predominantly driven by low-carbon sources, accounting for more than three-quarters of all electricity generated. Hydropower was the primary contributor within this category, almost entirely making up the low-carbon segment with over 77% of electricity generation. On the other hand, fossil-based sources contributed to roughly a quarter of the electricity generation mix, with natural gas being the major contributor to this category at about 16%. This substantial reliance on hydropower highlights Venezuela's potential in further expanding its clean energy framework.

Suggestions

To enhance its low-carbon electricity generation further, Venezuela could draw inspiration from countries that have successfully diversified their clean energy portfolio. Countries with similar developmental paths, such as Uruguay, which generates more than a third of its electricity from wind, could offer insights into expanding wind energy capabilities. Similarly, embracing nuclear energy, as seen in Slovakia, Ukraine, or South Korea, where it contributes a significant portion of the electricity mix (over 50% in Ukraine), could provide Venezuela with a reliable and sustainable energy alternative. Diversifying the energy portfolio by investing in wind, solar, and nuclear energy could ensure energy security while minimizing the environmental footprint.

History

The historical trends of low-carbon electricity generation in Venezuela demonstrate a strong foundation in hydropower, with significant expansion observed, especially from the mid-1980s to the mid-2000s. The years 2004 and 2005, in particular, saw remarkable growth, with increases of 9.5 and 7.2 TWh, respectively. However, starting around 2010, there was a notable decline in hydropower generation, marked by a substantial drop of 9.2 TWh that year. This pattern continued in subsequent years, with notable declines in 2014, 2015, and 2016 when reductions reached 11.9 TWh. Despite these challenges, recovery signs appeared in 2020 with an impressive gain of 12.9 TWh, followed by additional growth in 2021. These historical shifts highlight the need for infrastructure development and diversification towards other low-carbon sources like nuclear and wind to ensure sustainable electricity generation and resiliency against climate variability.

Electricity Imports and Exports

Balance of Trade

Data Sources