CARACAS (Dow Jones)--Venezuela is evaluating plans to conserve energy consumption, measures similar to those adopted in the capital city more than a year ago during a national power crisis, the country's electricity minister said Monday.

During an interview broadcast on state television, Ali Rodriguez Araque blasted what he called "electricity waste" and said that his ministry was evaluating measures to cut down on unnecessary consumption.

He added, however, that investment into the sector "was still insufficient...to meet increasing demand." Rodriquez said that the country would be adding a little more than 2,000 megawatts of capacity to the national grid this year.

In the past, the minister has said that an additional 2,000 megawatts would be needed each year to meet surging demand. The country uses between 16,000 and 17,000 megawatts.

Any measures would have to get the final approval of President Hugo Chavez, Rodriguez said.

The oil-rich South American country has been battling an electricity shortage in recent months as a series of major failures in transmission lines cut power supplies for vast areas of the country. Rolling blackouts have been experienced around the country since and the government has been announcing a series of scheduled outages for maintenance.

The latest bout of power problems comes after a major crisis experienced between 2009 and 2010, when a severe drought lowered water levels at the El Guri dam and forced the country to ration electricity. El Guri is the sources of as much as 70% of the country's power supply.

Still, the energy problems have persisted this year even as heavy rains over the last month have caused flooding in various areas around the country.

In his comments Monday, Rodriguez said that the ministry was working on 17 different generation projects to meet this year's goal.

Around 1,600 megawatts will come from state electricity company Corpoelec, while state oil monopoly Petroleos de Venezuela will generate around 800 megawatts, Rodriguez said.

Rodriguez, along with other government officials, have recently blamed the country's electricity shortages on what they have called stronger-than-expected economic growth.

Venezuela's economy expanded 4.5% during the first quarter compared with a year ago. The government has said that growth this year could double the 2% economic target set in its 2011 budget.

-By Kejal Vyas, Dow Jones Newswires; 58-414-249-6821; kejal.vyas@dowjones.com