Chavez said would cut electricity to nearly 100 businesses

Venezuela's President Hugo Chavez said would cut electricity to nearly 100 businesses that failed to reduce power usage in line with an emergency decree designed to shore up recent electricity shortages.

At least 96 companies are listed to be punished Monday by going without power for 24 hours.

"We hope this measure serves to shape up these users," country’s Vice President Elias Jaua said, according to a statement from government-run news agency ABN.

"If they continue failing to comply the penalty jumps to a three-day suspension and after that we'll cut it completely, until the national electricity grid is back to full power," Jaua said.