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realclearworld

Monkey see, monkey do

morales

Evo Morales is forging ahead with his seizure of private firms in Bolivia, in keeping with the paradigm established by Fidel and Hugo.  This time the victims are Spanish.  Now, if only the same logic behind this major theft were to be applied to the Melia Hotels in Castrolandia...

Bolivia takes over Spanish-owned energy suppliers

Evo Morales said unfair pricing policies forced him to sign the decree nationalising Iberdrola's assets in Bolivia

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.

In its first reaction to the Bolivian government decision, Iberdrola said it hoped to be paid a fair price for the companies.

"We hope we will get the real value of our share" a spokesman told the AFP news agency.

Iberdrola owned 89.5% of Electropaz, which operates in Bolivia's largest city, La Paz, and surrounding areas, and 92.8% in Elfeo, based in the Oruro region.

Armed police guarded the companies' headquarters and plants in both cities as Mr Morales announced their nationalisation.

Complete report HERE, from the BBC

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