(MENAFNEditorial)
This quarter we maintain our negative outlook of the Venezuelan electricity market. Although the country had made some progress with regard to improving existing capacity and bringing new projects online over the past year the country continues to suffer from blackouts stemming from inadequate hydropower output (primarily as a result of low rainfall levels) and inefficiencies in the transmission and distribution segment. As such the country is in dire need of further increasing its energy supply and stabilising the power grid. However Venezuela's highly unattractive business environment with high levels of corruption an opaque tendering process and extremely low levels of liberalisation within the power market and the uncertainty of the political environment limit the ability of the country to attract the much needed investment.
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Over the past year Venezuela's power market has swelled in terms of capacity. For instance according to a report from Bnamericas 1.07 gigawatts (GW) have been brought online since energy minister Jesse Chacón announced a new energy short-term plan at the beginning of May 2013 after President Nicolás Maduro declared a state of emergency for the power sector in April 2013.
This notwithstanding our grim outlook for the Venezuelan power sector remains in place. In order to meet demand which averages between 17GW and 18GW Venezuela has an installed capacity of approximately 28GW; however only 20GW are currently operational. The country's business environment continues to present sizeable risks to investment (both industry and country specific). Under Chavez private enterprise was asphyxiated and rigidly controlled tariff rates led to a lack of capital for investment in sufficient capacity. The situation has hardly improved under Maduro's presidency. In addition despite repeated promises from the government delays and problems with funding continue to...
Report Table of Contents:
BMI Industry View
SWOT
Industry Forecast
Venezuela Snapshot
Table: Country Snapshot: Economic and Demographic Data (Venezuela 2013-2018)
Table: Country Snapshot: Power Sector
Venezuela Power Forecast Scenario
Electricity Generation And Power Generating Capacity
Table: Total Electricity Generation Data And Forecasts (Venezuela 2012-2017)
Table: Total Electricity Generation Data And Forecasts (Venezuela 2018-2023)
Table: Electricity Generating Capacity Data And Forecasts (Venezuela 2012-2017)
Table: Electricity Generating Capacity Data And Forecasts (Venezuela 2018-2023)
Electricity Consumption
Table: Total Electricity Consumption Data And Forecasts (Venezuela 2012-2017)
Table: Total Electricity Consumption Data And Forecasts (Venezuela 2018-2023)
Transmission & Distribution Imports & Exports
Table: Electric Power T&D Losses Data And Forecasts (Venezuela 2012-2017)
Table: Electric Power T&D Losses Data And Forecasts 2 (Venezuela 2018-2023)
Table: Trade Data And Forecasts (Venezuela 2012-2017)
Table: Trade Data And Forecasts (Venezuela 2018-2023)
Industry Risk/Reward Ratings
Latin America Risk/Reward Ratings
Table: Latin America Power Risk/Reward Ratings (Scores Out Of 100)
Venezuela Power Risk/Reward Ratings
Venezuela Risk/Reward Ratings
Rewards
Risks
Market Overview
Key Policies And Market Structure
Regulation and Competition
Pricing
Venezuela Power Projects Database
Table: Major Projects - Power
Competitive Landscape
Corpoelec
Edelca
EDC
Regional Overview
Glossary
Table: Glossary Of Terms
Methodology
Industry Forecast Methodology
Sources
Risk/Reward Ratings Methodology
Table: Power Risk/Reward Rating Indicators
Table: Weighting Of Indicators
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