Venezuela saves electricity in April

Venezuela used less electricity in April than in any April since 2006, the Centro Nacional de Gestión said this week in a monthly report. The country used 9,078 megawatt-hours of electricity, down 9.3 percent from a year earlier.

As has been the pattern in prior months, most of the savings come from Edelca, the utility that supplies heavy industry in the east of the country, and EDC, the utility for Caracas. For the first time, Cadafe, the utility with the widest customer base, also conserved, cutting consumption by 3.9 percent year over year.

Valencia and Barquisimeto increased electricity consumption by 16 and 17 percent, respectively.

Diesel consumption grew 37 percent year-over-year to 69,000 barrels a day, the highest on record. Based on the average U.S. spot diesel price in the first week of April, the opportunity cost of burning that diesel grew to $8.6 million a day from $7.8 million the prior month.