December 26, 2014 8:04 AM ET

Electric Utilities

Company Overview of Corporación Eléctrica Nacional S.A.

Company Overview

Corporación Eléctrica Nacional S.A. engages in the generation, transmission, distribution, and marketing of electric power and energy. The company is based in Caracas, Venezuela.

Av. La Estancia, Edificio Las Mercedes

Piso Ph 1

Urbanización Chuao

Caracas,  

Venezuela

Phone:

58 212 9502319

Key Executives for Corporación Eléctrica Nacional S.A.

Corporación Eléctrica Nacional S.A. does not have any Key Executives recorded.

Corporación Eléctrica Nacional S.A. Key Developments

Corpoelec to Expand Acarigua II Substation in Western Portuguesa State

Corpoelec announced it plans to expand the Acarigua II substation in western Portuguesa state as part of its 2014 investment plan. Corpoelec will spend $50 million this year to grow Acarigua II's capacity to 500MVA from 300MVA. The state firm invested a total of $30mn last year upgrading substations in Portuguesa. The western state's energy grid includes 12 substations transmitting on 230kV and 115kV lines. Approximately 80% of Portuguesa's electricity flows through the Acarigua II and Yaracuy substations.

Corpoelec Expands Northern Venezuela's Substation Capacity

Corpoelec is expanding northern Venezuela's substation capacity with separate projects in Falcón and Anzoátegui states. In Falcón, Corpoelec is building two 160MVA substations, Dabajuro and Mene Mauroa. The firm is also expanding Falcón's existing Urumaco substation. The project is expected to cost USD 24.8 million and benefit over 200,000 residents. The firm is also building a 162km, 115kV transmission line between Falcón and Zulia states. In Anzoátegui Corpoelec began the second phase of expanding the Clarines substation. Corpoelec is using a 36MW mobile transformer unit as a stand in while it replaces Clarines second 20MVA transformer unit with a 30MVA unit. The expanded transformer unit is expected to be online 'within weeks'. The second phase expansion also includes upgrades to Clarines 13.8kV and 34.5kV lines with connect it to six nearby municipalities. Upon completion the expansion project substation's capacity will increase to 66MVA from its original 40MVA.

Corpoelec Plans to Consolidate its Units into Single State-Run Entity in 2014

Corpoelec plans to consolidate its units into a single state-run entity in 2014. The move aims to improve efficiency and decision making along Venezuela's national SEN grid. Venezuela suffered frequent blackouts last year, including an outage last month which left roughly half the country without electricity. Ruling PSUV party officials have repeatedly blamed the blackouts on anti-socialist saboteurs. In 2014, the company will focus on accelerating the conversion of thermo plants from diesel to natural gas. Aside from being more economical and environmentally friendly, gas-fired plants need less maintenance. Corpoelec also plans to form an investigative team tasked with strengthening the SEN and has previously stated it will target the SEN's 765kV transmission system as the first step in improving the network. Corpoelec's initial efforts this year include maintenance on a 55MW unit of the Jose Antonio Páez hydro plant and electrical network refurbishments in Barinas state.

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