Venezuela to tax high power use
"Those who use energy above a ceiling will have to pay a surcharge. They must pay more. Those who spend less energy, under a minimum limit, will be subsidized and will pay lower rates." El Universal quoted Chavez saying.
"There is a world energy crisis, for God's sake, we must understand it! Some people turn on their air conditioners and let them on all night. It's like wasting water day and night," he said.
Chavez said a lack of rainfall to replenish the headwaters of the Caroni River had become "a serious situation that has affected the supply of electricity."
The hydroelectric power station Guri, Venezuela, produces 70 percent of the country's electricity.
"What I mean is that we must all be concerned... everyone has to help save energy," he said.
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IEA warns fall in global energy investment may lead to shortages
MELBOURNE - An almost 20 per cent fall in global energy investment over the past three years could lead to oil and electricity shortages, and there are concerns about whether current business models will encourage sufficient levels of spending in the future, according a new report.
The International Energy Agency’s second annual IEA benchmark analysis of energy investment found that while the world spent $US1.7 trillion ($2.2 trillion) on fossil-fuel exploration, new power plants and upgrades to electricity grids last year, global energy investment was down 12 per cent from a year earlier and 17 per cent lower than 2014.
While the…
