In 2023, almost four-fifths of Venezuela’s electricity came from low-carbon sources, overwhelmingly hydropower, which supplied about 78% of the total. Other low-carbon sources contributed close to none. Fossil fuels supplied the remaining 22%, including around 15% from gas. Venezuela therefore already has a largely clean electricity mix, but replacing its remaining fossil generation would help reduce climate-changing emissions and air pollution.

Is Electricity Growing in Venezuela?

Venezuela’s electricity consumption per person remains well below its historical peak, rather than showing sustained growth to new highs. 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 also fell below its 2008 record, reaching about 2,300 kWh per person versus nearly 3,100 kWh, a reduction of around 800 kWh, or 26%. These substantial shortfalls are concerning: Venezuela needs renewed growth in clean electricity to support electrification, economic development and emerging demand, including AI.

Suggestions

Venezuela can expand low-carbon electricity by strengthening its hydropower generation while adding solar, wind and nuclear power. Relevant regional examples include Chile, where solar supplies about 24% of electricity, and Brazil, where solar contributes 11% and wind 14%. Uruguay’s roughly one-third wind share offers another useful South American example. For nuclear development, Venezuela could learn from France, which generates about two-thirds of its electricity from nuclear, and the United Arab Emirates, where nuclear supplies one-fifth. Developing technical expertise, effective institutions and investment plans, alongside stronger grids, would help Venezuela turn these examples into a diversified clean electricity expansion.

History

Venezuela’s reported low-carbon electricity history is dominated by hydropower. The late 1980s brought consistent expansion, with annual gains of 3–6 TWh between 1985 and 1988. Further gains followed during the 1990s, notably nearly 8 TWh in 1991. Growth strengthened in the mid-2000s, with increases of about 10 TWh in 2004, 7 TWh in 2005 and 4 TWh in both 2006 and 2008. The 2010s were much more uneven: a 9 TWh decline in 2010 was followed by a 7 TWh recovery in 2011, while a sharp 19 TWh fall in 2014 preceded an 11 TWh rebound in 2015. Further losses of about 12 TWh in 2016 and 9 TWh in 2019 were troubling setbacks. Encouragingly, hydropower generation recovered by roughly 13 TWh in 2020 and another 3 TWh in 2021.

Electricity Imports and Exports

Balance of Trade