Venezuela's state power company Corpoelec has announced the introduction of its "Plan Banda Verde" as of August 2014 to encourage energy efficiency and rational use of electricity, which will result in cuts in electricity subsidies. The company will define five regions and will use a consumption model to set a "green band" (up to 1,300 kWh/year for an average electricity consuming household) corresponding to the most-spread consumption pattern (83% of the customers). Customers with a consumption lower than their regional ceiling (500 kWh/year in Caracas region and the Andean region, 600 kWh/year in central, western and eastern regions, 700 kWh/year in the Los Llanos and Guayana regions, 900 kWh/year in Nueva Esparta and up to 1,300 kWh/year for the Zulia state) will continue to have 80% of their electricity bill subsidised. The remaining 17% with a yearly consumption higher than this ceiling will see subsidy cuts.
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