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Electricity is sold to consumers at a price lower than that at which it can be bought from other countries. This of course is the source of the overuse and failing infrastructure.

The country is communist, so the government has direct control over prices, and of course set them this low because it was politically expedient, not because it was sane.

One of the reasons. The other: nationalized industries are rotten with corruption.

Monopolies are rotten with corruption. Nationalized industries are monopolies, and often headed by non-industry people so the nature of the corruption tends to be more catastrophic, and correction is much, much harder than in the case of a corporation with a monopoly.

That's imperialist and counterrevolutionary! Proceed to the nearest reeducation booth. Have a nice day.

An ironic thing to say given how staunchly you are defending capitalism.

> Can't the country buy power from a neighbor?

If they have good credit, which Venezuela doesn't.

I think neighbors are in the same situation regarding to electric energy because of the "El Niño".