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.