Nationalization Becomes Electric

Posted on May 1, 2010

AP / Juan Karita

President Evo Morales says he wants to put the country’s resources into the “hands of the Bolivians.”

President Evo Morales is pressing forward with his nationalization program in Bolivia, seizing four private electric companies Saturday morning. The government now controls 80 percent of the country’s power generation.—JCL

The BBC:

Bolivian President Evo Morales has ordered the nationalisation of four private electricity companies.

Police moved into the offices of Corani, Valle Hermoso and Guaracachi firms, following Mr Morales’ decree.

Corani is half owned by a subsidiary of France’s GDF Suez. Guaracachi’s main partner is Britain’s Rurelec, while ELFEC and Valle Hermoso are local.

President Morales said that the government now controlled 80% of electricity generation in the country.

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