Venezuela’s National Electric System (SEN) is experiencing a new crisis due to increased domestic consumption. Engineer Elías Matta proposes the recovery and reactivation of inactive power plants as a way to resolve the blackouts.

The energy specialist “presented a technical analysis demonstrating that Venezuela has twice the installed capacity needed to meet national demand.” However, the fact that numerous plants are inactive causes a deficit of 2,160 megawatts (MW), a figure that coincides with the volume of current power rationing.

According to Matta, reactivating 10 % of the capacity would inject the 2,160 megawatts currently needed into the National Electric System (SEN), thus resolving the rationing currently in place across much of Venezuela.

His analysis of the current electricity situation leads to a plan that includes key steps:

• Payment of commitments allocating $3.5 billion to settle debts with the Inter-American Development Bank and CAF.
• Leveraging obtaining $12 billion in loans at low interest rates.
• Prioritize investment initiating the reconstruction of the electrical system and the drinking water service.

M.Pino

Source: elnacional

(Reference image source: Raisa Milova on Unsplash)

Follow our news on Google! For current, interesting, and accurate information, click here to see all the content on Bitfinance.news. You can also find us on X/Twitter and Instagram

La entrada Reactivating electrical infrastructure could help resolve crisis in Venezuela apareció primero en Bitfinance.

During a virtual meeting of legal and governance specialists, the creation of the National Mining Management and Administration Agency (ANGAM) was proposed, along with a new Mining Law to resolve the current anarchy in the industry.

Participants in this meeting, coordinated by engineer Elías Matta, included lawyer Martha Acosta, a specialist in Mining Law; lawyer Verónica Barboza from George Washington University, with a Master’s degree in Strategy and Governance; and others.

One of the main aspects of this forum was the proposal to create ANGAM “as an autonomous institute” responsible for “managing and administering mining rights, coordinating the Public Mining Registry and the National Mining Cadastre, and clearly separating the regulatory (Agency) and oversight (Ministry) functions, eliminating the current conflict of interest and discretionary power.”

The speakers agreed that “the Venezuelan mining model must shift from a one-off contractual approach to a systemic model that involves a profound transformation of public policy.” Barboza emphasized the need to apply “international standards such as ESG (Environmental, Social, and Governance) and UNFC 2019.”

The experts addressed other aspects to consider, such as legal security and regional competitiveness, sustainability and combating illegal activity, and the economic potential of mining for the country. All these issues, carefully managed, could generate between $6 billion and $10 billion in revenue to boost the country’s development.

M.Pino

Source: elimpulso

(Reference image source: Jonny Caspari on Unsplash)

Follow our news on Google! For current, interesting, and accurate information, click here to see all the content on Bitfinance.news. You can also find us on X/Twitter and Instagram

La entrada Experts propose the creation of a National Mining Agency apareció primero en Bitfinance.