Venezuela’s National Assembly will debate a reform that would open the country’s electricity sector to private investment, allowing companies to generate, distribute and sell power under government concessions after more than 15 years of state control.
The proposal would permit private firms, mixed enterprises and companies with minority state ownership to operate in the sector alongside the state, according to draft legislation seen by Bloomberg. The bill also says it would establish tariffs designed to reflect the cost of providing service and allow operators a reasonable return on investment.
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