Bolivia nationalises Iberdrola electricity companies

[Judi Lynn]

Bolivia nationalises Iberdrola electricity companies
Sat Dec 29, 2012 3:58pm EST

By Carlos Quiroga and Sonya Dowsett

Dec 29 (Reuters) - Bolivia nationalised two electricity distribution companies owned by Spanish utility Iberdrola on Saturday, the latest move by leftist President Evo Morales to assert control over the country's resources.

Iberdrola will be compensated according to a valuation to be drawn up by an independent arbiter, Morales said, adding that the measure was aimed at enhancing rural energy services.

"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.

President Morales has nationalised oil, telecommunications, mining and electrical generation companies.

More:
http://www.reuters.com/article/2012/12/29/bolivia-iberdrola-idUSL1E8NT0XB20121229?rpc=401&feedType=RSS&feedName=rbssFinancialServicesAndRealEstateNews&rpc=401

[Judi Lynn]

1. Bolivia takes over Spanish-owned energy suppliers

29 December 2012 Last updated at 17:56 ET
Bolivia takes over Spanish-owned energy suppliers

Bolivia has brought two Spanish-owned electricity supply companies under state control.

President Evo Morales accused the subsidiaries of the Spanish company, Iberdrola, of overcharging consumers in rural areas.

Mr Morales said rural households had been paying three times more for their electricity than people in urban areas.

The left-wing president has previously nationalised oil, telecommunications and energy-generating companies.

"We had to see that the quality of electricity service is uniform in rural as well as urban areas," Mr Morales said.

More:
http://www.bbc.co.uk/news/world-latin-america-20867595