CARACAS – Venezuelan President Hugo Chavez signed a decree to declare an energy emergency in the country. The declaration aims to hasten and facilitate his government's efforts to minimize the impact of the severe energy shortages.

Venezuela had imposed the rationing of water and electricity last December to avoid a possible collapse of the country's electricity grid as the prevailing drought reduced water levels in the Guri Dam to critical level. The dam generates most of Venezuela's electricity.

According to Energy Minister Ali Rodriguez, the government must fast track plans to decrease energy consumption while increasing power generation.

President Chavez signed the emergency decree on Monday.