Venezuela opens electricity sector to private capital, first since 2007 nationalization

Venezuela's National Assembly unanimously passed a reform ending the state's 19-year electricity monopoly, allowing oil producers and large businesses to build their own power plants with euro-pegged tariffs, while retaining state control over hydroelectric dams and main transmission lines. This marks a significant policy reversal aimed at attracting private investment to address chronic blackouts and support oil output, though implementation details and fiscal implications remain uncertain.

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