The electricity crisis in Venezuela is reaching critical levels according to a Linked In report recently. A massive drought has made it impossible for the hydro-electric turbines that generate power to be effective. Venezuela is a huge country with a large population. Electricity ends up being drained quickly. Drastic measures are being taken. Some of those measures may save power for the short term, but cause major issues in the near future.
One severe measure being taken to save power is through “punitive electricity rationing” at shopping malls. In essence, shopping malls have to cut back on how much electricity they use. While this may help cut down on the current drain of power, the bottom line at the shopping malls suffers. Shopping malls are commercial enterprises. Unless they are able to generate revenues, stores at malls end up closing.
There is sure to be some economic fallout from this. Stores that are not able to remain open the full number of hours necessary to earn a profit have to deal with the resultant financial woes. The decision has been taken out of the malls and stores hands.
And what of the effect this will have on tourism? Surely, the malls are already suffering from a lack of tourism dollars already. The situation is only going to become worse.
Hopefully, the situation will correct itself in due time and the necessary power to fuel the economy of Venezuela will return. Until the drought is over, the situation is going to be unable to change.