Venezuela lowers electric power budget

Venezuela's electric power ministry will receive a budget of $1.83 billion from the 2015 fiscal budget, nearly 9.8 percent lower than this year's $2 billion, according to Business News Americas.

Projects anticipated for next year include the construction of the hydroelectric plant Manuel Piar, which will generate 2,160 MW and through an investment of $235 million.

Nearly 2 billion bolívares will be used to rehabilitate units 1-6 of the Simón Bolivar hydroelectric center, which supplies some 70 percent of energy consumed by Venezuelans.

Another $45.8 million will be used to advance transmission works at the Termozulia III center.

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now


Maximizing Operational Excellence

In a recent survey conducted by PennEnergy Research, 70% of surveyed energy industry professional...

Leveraging the Power of Information in the Energy Industry

Information Governance is about more than compliance. It’s about using your information to drive ...

Reduce Engineering Project Complexity

Engineering document management presents unique and complex challenges. A solution based in Enter...

Revolutionizing Asset Management in the Electric Power Industry

With the arrival of the Industrial Internet of Things, data is growing and becoming more accessib...

Latest PennEnergy Jobs

PennEnergy Oil & Gas Jobs