Venezuela has said it will cut the power for a 24-hour period to 80 firms that have failed to meet electricity usage reduction targets.

Caracas announced the measures on Sunday as part of a nationwide drive to save energy amid rationing to cope with electricity shortages.

The 80 firms did not reduce their power consumption by the required 20 per cent and will have their electricity cut on Monday, the state utility said.

Those companies include hotels, restaurants, car dealerships, gyms and a yacht club, as well as Sony de Venezuela SA, the local arm of the Japanese firm Sony Corp.

Hugo Chavez, the president, had ordered the firms to reduce their consumption by presidential decree.

The decree was made after a severe drought in the country depleted hydroelectric electricity production which provides for more than 66 per cent of the country's power.