Empresa de Luz y Fuerza Electrica Cochabamba SA

cancelled

Elfec distributes electricity to 134,836 customers in and around Cochabamba city; it is one of Bolivia's two largest distribution sytems. Elfec is one of the six provincial utilities formed in the restructuring of Empresa Nacional de Electricidad (ENDE). Elfec was partially privatized in December 1995, when the Ministry of Capitalization sold a controlling interest in it for US$ 50.3 million to Chilean utility Empresas Emel SA. In 2000, Emel sold its shares in Elfec to PP&L Global, which controls Emel. In July 2007, PPL Corporation sold all of its assets in Elfec and Integra to the Management and Employees of the respective companies. In April 2008, Bolivia's Cochabamba-based multiservice telecommunications cooperative Comteco purchased a 52.2% stake in local distributor Elfec. The purchase price was US $17.6 million. In October 2009, the electricity ministry confirmed that President Morales aimed to secure state control of the three main electricity companies, with a share of 60–70% as well as the cooperative Empresa de Luz y Fuerza Electrica de Cochabamba. On May 1st, 2010 President Evo Morales nationalized three electric companies in Bolivia and one distributor in Cochabamba. The companies were: Corani and Valle Hermoso in Cochabamba, and Guaracachi in Santa Cruz are along with Elfec of Cochabamba.