Venezuela's National Assembly will debate a reform that would open the country's electricity sector to private investment. This marks a significant shift after more than 15 years of state control, potentially attracting foreign capital and expertise to fix the struggling power grid.

The reform would allow private companies to generate, distribute, and sell power under government concessions. This represents a major reversal of Venezuela's historically state-dominated approach to utilities, which has struggled with chronic underinvestment and maintenance issues.

The move could signal a broader opening of Venezuela's economy to private investment as the government seeks solutions to persistent power outages affecting businesses and households nationwide. Parliament's approval would set the stage for implementation of these market-oriented reforms.