Ecuadorian Assembly unanimously approved the Economic Law Project for Energy Generation

The following is a machine translation of a National Assembly release

The National Assembly unanimously approved, with 120 votes in favor, the Organic Law Project to Promote Private Initiative in Energy Generation, classified as urgent in economic matters.

The legislators approved the initiative presented by the Presidency of the Republic, which aims to promote private investment in the energy sector and thus address the crisis affecting the country.

During the debate, several legislators expressed their support for this measure, acknowledging that the changes will not be immediate, but that they pave the way for a transition towards clean energy through private investment.

Assemblywoman Viviana Veloz expressed her concern about the economic situation of Ecuadorian families and denounced the lack of action by the Ministry of Education regarding the problems of night-shift students and online master's students. She also criticized the quality of the telecommunications service and the lack of oversight of the barges hired to supply electricity generation. According to Veloz, Parliament has the responsibility to address the needs of citizens and reiterated that this project is not the solution to the energy crisis.

Valentina Centeno, the speaker of the report, began her speech by expressing her solidarity with Ecuadorian families affected by the energy and economic crisis, accentuated by the drought. She highlighted that this regulation seeks to promote the use of renewable energies, emphasizing the lack of investment in energy generation since 2020.

Lawmaker Blasco Luna described this crisis as an "energy holiday" and agreed that the law will not immediately solve current problems, but rather creates a legal framework for long-term investments. Jorge Acaiturri added that the project will allow work to be done on developing the private market to reduce environmental pollution.

Katiuska Miranda, for her part, expressed skepticism about the possibility of private investment solving the crisis in the short term. Pedro Velasco stressed the importance of legal security to attract foreign investment, especially on the borders. Lucía Posso and Carmen Tiupul expressed their concern, highlighting that, even if this law is approved, it will not immediately resolve the energy crisis. Tiupul asked that the Assembly be avoided being characterized as a destabilizing entity and affirmed that they will not hinder issues that benefit the country.

Camilo Salinas warned that the law might not provide short-term solutions, and that new conflicts of responsibility between the Executive and the Legislative branches could arise in the future regarding the energy crisis. Ricardo Ulcuango and Sofía Sánchez called on the Executive to act with transparency and use the available mechanisms to plan and implement immediate measures in the energy sector.

The National Assembly, united in its aim to find structural solutions, approved the law promoting private investment in the energy sector, aware that its effects will be long-term and that there are still important challenges to be resolved in the short term to alleviate the country's energy and economic crisis.