Venezuela has one of the highest electricity consumption levels in South America: between 2003 and 2012, available data show Venezuela’s electricity consumption increased by 49 percent while installed capacity expanded by only 28 percent. Now, Venezuela is in the midst of a devastating drought, and it lacks alternative means of producing energy. They prey for rain. People even use light candles. The energy crisis in Venezuela began years ago. President Hugo Chávez, who won the presidency 11 years ago, in 2007 fully nationalized what was then an already heavily regulated and mostly state-run electricity sector. Over the years, the sector suffered from a dearth of investment despite sharply rising demand that was fueled by government subsidies that make electricity cheap. Angel Rodriguez, electricity minister, this week said the country is facing an “emergency situation.”
