Venezuela passes power law to spur investment in ailing grid

· Energy · Venezuela

Venezuelan lawmakers approved a bill designed to attract private investment to the nation's blackout-prone power grid, according to Bloomberg. The measure aims to address chronic electricity shortages that have plagued the oil-producing country for years. Venezuela's grid has suffered from underinvestment, mismanagement and a deep economic crisis, leading to frequent nationwide outages. The law is part of efforts to draw outside capital into infrastructure.

Why it matters：A more open power sector could attract foreign capital to Venezuela's grid, a key step if the country is to stabilise its economy and oil output.

Key points

  • Lawmakers approved a bill to attract private power investment.
  • Venezuela's grid suffers chronic blackouts.
  • The measure seeks outside capital for infrastructure.

Sources (original reporting)

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