- Title: BOLIVIA: Country nationalizes Iberdrola electricity distributors
- Date: 29th December 2012
- Summary: LA PAZ, BOLIVIA (DECEMBER 29, 2012) (REUTERS) GENERAL VIEW OF STREET, AUTHORITIES BLOCKING STREET GENERAL VIEW OF EXTERIOR OF BUILDING, ARMED POLICE PLACING SIGN THAT READS: NATIONALIZED ARMED POLICE ON ROOFTOP OF BUILDING WITH BOLIVIAN FLAG BANNER THAT READS: NATIONALIZED VARIOUS OF ARMED POLICE
- Embargoed: 13th January 2013 12:00
- Location: Bolivia, Plurinational State Of
- Country: Bolivia
- Topics: Politics,Energy
- Reuters ID: LVA8DBB53B6THSZGUNB721YXS2BY
- Aspect Ratio:
- Story Text: Bolivia nationalized two electricity distribution companies owned by Spanish utility Iberdrola <IBE.MC>, according to a decree announced by President Evo Morales on Saturday (December 29) and aimed at enhancing rural energy services.
The former parent company will be compensated according to a valuation to be drawn up by an independent arbiter, Morales said. The left-wing leader has also nationalized oil, telecommunications and electrical generation companies.
"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.
Iberdrola, whose office in capital city La Paz was being guarded by police on Saturday, has operated in Bolivia since the late 1990s. An Iberdrola spokesman said the company was studying the situation and declined to comment further.
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