DJ Venezuela's Main Hydropower Reservoir Dangerously Low -Report

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CARACAS (Dow Jones)--Amid a drought, the water level at Venezuela's Guri reservoir has fallen to within 14 meters of potentially causing a collapse of the country's main hydropower plant, El Nacional newspaper reported Tuesday.
Citing government figures, the newspaper said the Guri is now just 254 meters above sea level, leaving it dangerously close to the critical 240-meters mark that dam officials say could cause a collapse of the system.
Venezuela, though rich in oil, has for months been caught up in a self-declared "electricity emergency." Rising demand has exceeded supply, forcing the government of President Hugo Chavez to impose power rationing and threaten steep fines for excessive usage.
The key problem is a lack of water, as more than 70% of the country's electricity comes from hydropower. The Guri reservoir in the southeastern part of Venezuela serves the country's most important hydropower plant.
As recently as December, the Guri was at 264 meters above sea level, and it was as high as 271 meters above sea level earlier in 2009.
While Chavez places most of the blame for the electricity problems on the drought, critics say his administration for years has not managed the nationalized sector well, and didn't prepare for rising energy demand.

-By Dan Molinski, Dow Jones Newswires; 58-414-120-5738; dan.molinski@dowjones.com

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(END) Dow Jones Newswires
March 09, 2010 07:33 ET (12:33 GMT)
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