Venezuela announced on Sunday 24-hour power cutoffs for dozens of companies that have failed to reduce usage in the first punitive measures of a nationwide drive to save energy amid an electricity crisis.
Restaurants, liquor stores, hotels, gyms, car dealerships and a yacht club were on the list of 80 firms in the capital Caracas due to have their power cut on Monday for failing to bring consumption down 20 percent, the state utility said.
The local unit of Japanese firm Sony Corp (6758.T) will also be among those sanctioned.
President Hugo Chavez's government has introduced rationing, and demanded power cuts across the South American OPEC member, to cope with an electricity shortage that is jeopardizing Venezuela's ability to pull out of a recession.
Monday, March 22, 2010
Chavez to punish companies for using too much power.
Nothing says you are a master of industry like cutting off power to companies that help your own economy. But someone has to punished for Chavez being an inept leader.