Venezuela’s assembly is now auctioning off pieces of the electricity sector to private investment after more than a decade of state-only control produced chronic blackouts. The move comes packaged as bold reform, yet reads more like a landlord finally calling an electrician once the wiring has already burned the house down.
Officials pitch the concessions as an opportunity for companies to generate, distribute, and sell power under government oversight. In practice it means inviting outsiders to fix infrastructure that collapsed under the very policies now being quietly reversed. The same leadership that nationalized everything is suddenly comfortable with private operators, provided they still seek permission slips.
The language stays careful: this is never called a reversal or an admission. It is simply “opening the sector.” No mention of why the sector needed opening in the first place.
