To donate by check, phone, or other method, see our More Ways to Give page.
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 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."
Common Dreams is powered by optimists who believe in the power of informed and engaged citizens to ignite and enact change to make the world a better place. We're hundreds of thousands strong, but every single supporter makes the difference. Your contribution supports this bold media model—free, independent, and dedicated to reporting the facts every day. Stand with us in the fight for economic equality, social justice, human rights, and a more sustainable future. As a people-powered nonprofit news outlet, we cover the issues the corporate media never will. |
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."
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."