economy
May 8, 2026
Bloomberg
Venezuela announced emergency measures to stabilize its electricity grid after electricity consumption reached its highest level in nine years this week, reviving memories of blackouts and rationing that once paralyzed the economy. By Bloomberg The Ministry of Electricity did not detail the measures, but urged the private sector to […]
TL;DR
- Venezuela is implementing emergency measures to stabilize its electricity grid due to record consumption levels.
- Electricity consumption reached its highest point in nine years, exceeding 15,500 megawatts.
- The private sector is urged to conserve energy, and intensive crypto mining is prohibited.
- The strain on the grid threatens government plans to revitalize the oil, mining, and industrial sectors.
- Many areas, especially outside Caracas, already experience rotating blackouts.
- The government is using public announcements and animated characters to encourage energy saving.
- These issues recall Venezuela's severe crisis in 2019, marked by a week-long nationwide blackout.
- The government blames persistent U.S. sanctions for restricting access to funding and spare parts for infrastructure maintenance.