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Venezuela opens its electricity system to private investment

The National Assembly of Venezuela, controlled by Chavismo, has taken a step toward ending the state monopoly over the electricity service, which has been in crisis with blackouts and other problems for two decades. A draft reform to the Organic Law of the Electric System and Service was approved in first reading; it is aimed at opening the field to private capital within a framework of long-term concessions.

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© MIGUEL GUTIERREZ (EFE)

Session in Venezuela’s assembly, in April.
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