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Brazil's energy crisis affecting the economy: survey ( July 03, 2001 )
SAO PAULO, July 3 (AFP) - Brazil's worst-ever energy crisis has begun to affect the economy after a month of mandatory power rationing, according to a survey released Tuesday.
More than 75 percent of the 918 businesses surveyed by the National Confederation of Industries said they expect rationing to have a negative effect on productivity. Almost a third surveyed said productivity would drop more than 15 percent.
Brazil depends on hydroelectricity for more than 90 percent of its power, but severe drought has reduced the country's ability to meet those needs.
Consumers were told by the government that in an effort to reduce energy use by 20 percent that from June 1, they faced hefty fees or power cutoffs if they exceeded their 500-kilowatt per month allotment.
Industrial and commercial sectors of Brazil must cut their consumption between 15 and 25 percent depending on the circumstance.
http://199.97.97.163/IMDS%PMAINTL0%read%/home/content/users/imds/feeds/afp_english/2001/07/03/ANA/0744-0672-Brazil-energy...
-- Martin Thompson (mthom1927@aol.com), July 03, 2001
For the world's 8th biggest economy this is a real kick in the head.
-- Wayward (wayward@webtv.net), July 04, 2001.