LatinNews Daily - 03 June 2026

*Venezuela’s national assembly has unanimously approved a bill to reform the country’s electricity system (SEN), in the first of two votes it will face. The bill was submitted by Reinaldo Sifuentes, a deputy for the minor opposition party Avanzada Progresista (AP). It aims to stimulate private investment in the electricity sector, which has for years been prone to regular blackouts and is viewed as a key impediment to economic growth and the recovery of oil production. Sifuentes said on 29 May that Venezuela has an installed electricity generation capacity of 32,000 megawatts (MW), of which 16,000MW corresponds to hydroelectric power and the rest to thermo-electric power, but that only 12,000MW of this capacity is currently available. He said that the bill does not seek the privatisation of the electricity system but instead aims to secure private sector involvement in electricity generation, sale, and distribution, as well as the revision of electricity tariffs.

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