Venezuelan law reform to open electric sector to private investment faces criticism over tariffs and short‑term black‑ou

The Venezuelan National Assembly approved in first discussion a reform of the Organic Law of the Electric System and Service, seeking to open the sector to private capital to finance an estimated $20 billion needed to restore the national grid. Experts warned that current subsidised tariffs would need a progressive adjustment and that the absence of state subsidies could heavily impact the poorest, who already face a 70 % poverty rate.

Engineers also stressed that the legal reform will not immediately end the frequent blackouts affecting Carabobo and other regions. They called for transparent timelines on the restart of power plants and suggested the short‑term use of floating power‑generation barges (powerships) capable of adding 600‑1 200 MW to the grid while longer‑term investments mature.