Bolivian President Evo Morales Orders Nationalization of Electric Companies

Bolivian President Evo Morales has ordered the nationalization of four private electricity companies with police seizing three of the firms on Saturday.

The move is another step by Morales to ensure government control of utility and commodities companies within Bolivia, a move that has won him few fans overseas.

On Saturday he announced the nationalization of Corani, Guaracachi, Valle Hermoso and ELFEC, effectively giving the government 80% control of all electricity generated in the country. Corani was half-owned by a subsidiary of France’s GDF Suez while Guaracachi had partnered with Britain’s Rurelec. Both Valle Hermoso and ELFEC were local.

All four of the firms had emerged following the privatization of the National Electric Company in the 1990s but Morales has gone to great lengths to ensure they fall back under state control. He has already nationalized the gas and oil industry as well as telephone companies.

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