Venezuela's state power company

Rule Changes

Retains the obligation to supply power and to subsidize vulnerable users

Venezuela's National Assembly voted unanimously on November 10 to let private companies generate and sell electricity, ending a state monopoly written into law in 2010. Concessions can run up to 25 years, and the law allows mixed companies with the state as well as wholly private operators. President of the Assembly Jorge Rodríguez said private parties could install plants, import power from a neighbor, and sell it to industrial and commercial users at a regulated rate.

Updated 2 hours ago