In 2023, almost four-fifths of Venezuela’s electricity consumption came from low-carbon sources, overwhelmingly hydropower, which supplied about 78% of the total. Fossil fuels accounted for the remaining 22%, including roughly 15% from gas and 7% from other fossil sources. Other low-carbon sources contributed close to none, making hydropower the foundation of Venezuela’s clean electricity supply.

Is Electricity Growing in Venezuela?

Venezuela’s electricity consumption per person remained far below its historical peak. In 2023, consumption was about 2,930 kWh per person, compared with roughly 4,250 kWh in 2008—a decline of about 1,320 kWh, or 31%. Low-carbon electricity generation per person also fell, reaching about 2,300 kWh against its 2008 record of roughly 3,100 kWh, a reduction of about 800 kWh, or 26%. These figures show a concerning retreat from past levels, although they do not establish whether electricity consumption grew or declined in 2023 alone. Restoring growth in clean electricity would help support electrification and future demand.

Suggestions

Venezuela can build on its hydropower foundation by expanding solar and wind generation and considering a nuclear electricity programme. Nearby regional examples are particularly useful: Chile generates about a quarter of its electricity from solar, while Brazil gets around 11% from solar and 14% from wind. Uruguay demonstrates an even larger role for wind, supplying almost a third of its electricity. Venezuela could learn from these places’ deployment experience while strengthening its grid and developing projects suited to local conditions. For nuclear electricity, France and Slovakia demonstrate how this clean source can supply roughly two-thirds of generation. Drawing on their operational expertise could help Venezuela assess a long-term nuclear programme that complements hydropower, solar and wind while reducing fossil-fuel pollution and emissions.

History

Venezuela’s recorded low-carbon electricity changes are dominated by hydropower. The late 1980s brought strong expansion, with annual increases of about 3–6 TWh, followed by further gains in the 1990s, including nearly 8 TWh in 1991. Growth accelerated again in the mid-2000s, with increases of roughly 10 TWh in 2004, 7 TWh in 2005 and 4 TWh in 2006 and 2008. The 2010s were much more unsettled: generation fell by about 9 TWh in 2010 before recovering by 7 TWh in 2011, then plunged by 19 TWh in 2014. A rebound of almost 11 TWh in 2015 was followed by declines of roughly 12 TWh in 2016 and 9 TWh in 2019. Encouraging increases of about 13 TWh in 2020 and 3 TWh in 2021 renewed growth, underscoring the value of sustaining expansion and broadening Venezuela’s clean electricity supply.

Electricity Imports and Exports

Balance of Trade