Venezuela to change its electricity subsidies system from August

23 July 2014 — The government of Venezuela will introduce changes to its electric subsidies system from August 2014. This was announced by state-owned electric company Corpoelec, BNamericas reported.

The government’s aim is to promote responsible electricity use through its Green Range Plan. This programme will divide the country into five areas and establish energy use limits for each region.

The areas that keep their energy use within the limit will continue to receive the government subsidy, which can be up to 80 per cent of the electricity cost. However, the areas that use more than the limit will receive reduced subsidies.

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