Andean Group - November 2014 (ISSN 1741-4466)

A deal with REE: On 13 November the Morales government announced that it would pay Spain’s Red Eléctrica Española (REE) US$36.5m in compensation for the seizure in May 2012 of the electricity transmission company, Transportadora de Electricidad (TDE), from REE’s Bolivian subsidiary, Red Eléctrica Internacional SAU. Bolivia’s attorney general, Héctor Arce Zaconeta, who in August hinted that an agreement was on the cards, noted that Bolivia will only pay 18% of the original US$200m demanded by REE. Along with Arce, those present at the press conference to announce the deal were: the hydrocarbons & energy minister, Juan José Sosa Soruco; Spain’s ambassador to Bolivia, Ángel Vázquez Díaz; the president of Bolivia’s national electricity company (Empresa Nacional de Electricidad, Ende), Jorge Arturo Iporre Salguero; REE’s chief financial officer, Juan Lasala; and REE’s general counsel and non-director secretary of the board of directors, Rafael García de Diego. Vázquez told reporters that the Bolivian state now controls more than 80% of the country’s electricity transmission network.

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