Venezuela relies heavily on domestic production of fossil fuels, with oil and natural gas comprising approximately 90% of the country's total energy supply. Hydro power also plays a key role in electricity generation, accounting for roughly half of installed capacity.
Latest estimates show Venezuela generating between 109 and 133 TWh of electricity annually , with 62% coming from hydropower and the remaining 38% from hydrocarbon power plants. The majority of Venezuela's electrical demand is met by the Simon Bolivar Hydroelectric Plant.
As of April 2022, Venezuela's electrical grid was said to be operating at 20% of capacity, with actual generation running 6 GW to 10 GW short of the country's needs, and an estimated investment of US$12 to 15 billion required to restore the system to normal operating conditions.
It provides that the state must consider efficiency and the use of renewable energy in the provision of electric service. The law reserved hydropower in the Caroní, Paragua y Caura rivers (the major Orinoco tributaries with most of Venezuela’s developed hydropower) for the state.
"Venezuela fails to harness abundant wind and sunshine". Dialogo Chino. 2020-12-04. Retrieved 2021-04-28. ↑ Sánchez Molina, Pilar (June 2, 2021). "Venezuela sees first grid-connected PV system come online". PV Magazine. Retrieved December 10, 2021.{ { cite web }}: CS1 maint: url-status ( link) ↑ María Ramírez (March 6, 2017).
"Venezuela Is Resurrecting Its Oil Fields With Backpacks of Cash". 2021-12-08. Retrieved 2021-12-10. ↑ Victor Anzola (2021-12-01). "Pdvsa o cómo privatizar "a oscuras" - Transparencia Venezuela". Transparencia Venezuela. ↑ "Venezuela: Analysis". U.S. Energy Information Administration (EIA).
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