Venezuela moves to open its power sector to private investment after years of blackouts

Venezuela's National Assembly gave initial approval to a reform of the electricity law that opens the sector to private investment through long-term concessions, in an effort to reverse the collapse of a service battered by blackouts for two decades. The measure ends the monopoly held for more than 15 years by the state-owned National Electric Corporation (Corpoelec), though it still requires a second debate and final ratification in the coming days.

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