SUBSCRIBE TO OUR FREE NEWSLETTER
Daily news & progressive opinion—funded by the people, not the corporations—delivered straight to your inbox.
5
#000000
#FFFFFF
5
#000000
#FFFFFF
Morales signs a decree allowing the takeover of shares in Empresa de Electricidad de La Paz (Electropaz) and Empresa de Luz y Fuerza de Oruro (Elfeo), Vice President Alvaro Garcia Linera at the government palace in La Paz, Bolivia, Saturday, Dec. 29, 2012. (Reuters)
Bolivia Nationalizes Electricity Companies in Hopes of Improving Rural Access
Dec 30, 2012
Bolivia President Evo Morales has nationalized two electricity distribution companies owned by Spanish utility company Iberdrola in the latest of several industry nationalizations since Morales took office, which has included oil, mining, telecommunications, and energy generation companies.
Morales said the move was an attempt to improve rural energy services in the country, adding that Iberdrola will be compensated according to the value of the company to be decided by an independent arbiter.
"We considered this measure necessary to ensure equitable energy tariffs ... and to see to it that the quality of electricity service is uniform in rural as well as urban areas," Morales said.
In a nationalization ceremony at Bolivia's governmental palace, Morales also announced the expropriation of an investment management company and a service provider belonging to Iberdrola, Associated Press reports.
Iberdrola, has operated in Bolivia since the late 1990s. Its main office in capital city La Paz was guarded by police on Saturday. Soldiers guarded the branches of the electricity distribution companies, marked with signs reading: "Nationalized."
An Urgent Message From Our Co-Founder
Dear Common Dreams reader, The U.S. is on a fast track to authoritarianism like nothing I've ever seen. Meanwhile, corporate news outlets are utterly capitulating to Trump, twisting their coverage to avoid drawing his ire while lining up to stuff cash in his pockets. That's why I believe that Common Dreams is doing the best and most consequential reporting that we've ever done. Our small but mighty team is a progressive reporting powerhouse, covering the news every day that the corporate media never will. Our mission has always been simple: To inform. To inspire. And to ignite change for the common good. Now here's the key piece that I want all our readers to understand: None of this would be possible without your financial support. That's not just some fundraising cliche. It's the absolute and literal truth. We don't accept corporate advertising and never will. We don't have a paywall because we don't think people should be blocked from critical news based on their ability to pay. Everything we do is funded by the donations of readers like you. Will you donate now to help power the nonprofit, independent reporting of Common Dreams? Thank you for being a vital member of our community. Together, we can keep independent journalism alive when it’s needed most. - Craig Brown, Co-founder |
Our work is licensed under Creative Commons (CC BY-NC-ND 3.0). Feel free to republish and share widely.
Jacob Chamberlain
Jacob Chamberlain is a former staff writer for Common Dreams. His website is www.jacobpchamberlain.com.
Bolivia President Evo Morales has nationalized two electricity distribution companies owned by Spanish utility company Iberdrola in the latest of several industry nationalizations since Morales took office, which has included oil, mining, telecommunications, and energy generation companies.
Morales said the move was an attempt to improve rural energy services in the country, adding that Iberdrola will be compensated according to the value of the company to be decided by an independent arbiter.
"We considered this measure necessary to ensure equitable energy tariffs ... and to see to it that the quality of electricity service is uniform in rural as well as urban areas," Morales said.
In a nationalization ceremony at Bolivia's governmental palace, Morales also announced the expropriation of an investment management company and a service provider belonging to Iberdrola, Associated Press reports.
Iberdrola, has operated in Bolivia since the late 1990s. Its main office in capital city La Paz was guarded by police on Saturday. Soldiers guarded the branches of the electricity distribution companies, marked with signs reading: "Nationalized."
Jacob Chamberlain
Jacob Chamberlain is a former staff writer for Common Dreams. His website is www.jacobpchamberlain.com.
Bolivia President Evo Morales has nationalized two electricity distribution companies owned by Spanish utility company Iberdrola in the latest of several industry nationalizations since Morales took office, which has included oil, mining, telecommunications, and energy generation companies.
Morales said the move was an attempt to improve rural energy services in the country, adding that Iberdrola will be compensated according to the value of the company to be decided by an independent arbiter.
"We considered this measure necessary to ensure equitable energy tariffs ... and to see to it that the quality of electricity service is uniform in rural as well as urban areas," Morales said.
In a nationalization ceremony at Bolivia's governmental palace, Morales also announced the expropriation of an investment management company and a service provider belonging to Iberdrola, Associated Press reports.
Iberdrola, has operated in Bolivia since the late 1990s. Its main office in capital city La Paz was guarded by police on Saturday. Soldiers guarded the branches of the electricity distribution companies, marked with signs reading: "Nationalized."
We've had enough. The 1% own and operate the corporate media. They are doing everything they can to defend the status quo, squash dissent and protect the wealthy and the powerful. The Common Dreams media model is different. We cover the news that matters to the 99%. Our mission? To inform. To inspire. To ignite change for the common good. How? Nonprofit. Independent. Reader-supported. Free to read. Free to republish. Free to share. With no advertising. No paywalls. No selling of your data. Thousands of small donations fund our newsroom and allow us to continue publishing. Can you chip in? We can't do it without you. Thank you.