📊 The National Assembly once again kicks the electricity reform down the road
The second reading of the partial reform to the Electricity Service Law has once again been put on hold. During an ordinary session, the ruling-party caucus asked to postpone the debate, arguing that the text still needs adjustments. As a result, the bill—which promises a service that is continuous, reliable, safe, and high-quality—has yet to become law. In a country where power outages are part of everyday life, the announcement carries weight: the debate over the rules governing a sector on which absolutely everything else depends has been postponed yet again.
The project covers power generation, transmission, dispatch, distribution, sales, and even international energy exchanges. It sounds technical, but there are very concrete issues at stake: who pays for maintenance, how tariffs are set, what incentives exist for investment, and what mechanisms are activated when the system fails. Until these matters are defined, every stakeholder—from households to businesses—will continue improvising their own contingency plans.
📈 $40 billion and a decade ahead
The Venezuelan Association of Electrical and Mechanical Engineering and Related Professions estimated that restoring the system will require up to $40 billion and a master plan that could take ten years to implement, after more than a decade of accumulated underinvestment. It’s a figure no ordinary budget can cover without blended financing, and one that will be difficult to secure without a stable legal framework that inspires confidence in private capital.
The social cost is already being counted in the streets. The Venezuelan Observatory of Social Conflict recorded 1,101 protests in September, 531 of them linked to power cuts and service failures. In other words, energy is no longer a technical issue; it has become one of the country’s main drivers of social unrest.
🔎 From household blackouts to financial blackouts
At PitbullChain, we keep repeating this: in Venezuela, electricity isn’t a convenience; it’s financial infrastructure. A point-of-sale terminal that won’t turn on, an ATM without backup power, a phone with a dead battery, or a router that’s switched off all mean transactions that can’t be completed. Venezuelan digital banking runs on data centers, fiber links, backup nodes, and reconciliation systems. When these go down, mobile payments, interbank transfers, and transaction confirmations go down with them.
The impact on the P2P market is even more direct. When the power grid fails in an area and internet service deteriorates, merchants stop responding to orders, the exchange flags a timeout, the counterparty gets impatient, and the trade is canceled. In a business where margins are measured in cents per dollar and speed is everything, a four-hour blackout can wipe out a whole week’s profits.
💰 When the power goes out, the spread widens
A pattern repeats with every prolonged outage: demand for immediate liquidity rises. Families in need of cash, businesses that need to restock, and workers paid in bolivars seek refuge in assets that don’t depend on the local system. That’s where USDT plays its usual role as a store of value and a means of payment for transactions that traditional banks can’t process in time.
The result is often reflected in the exchange rate: the bolivar price of USDT comes under upward pressure when supply dries up and demand concentrates, especially at night or in areas with more frequent outages. It’s not magic or pure speculation; it’s logistics. If a merchant can’t verify a payment, they won’t release their stablecoins, and the price charged by those willing to trade reflects that operational risk.
📖 Read the full article: https://pitbullchain.com/noticias/apagones-sin-ley-reforma-electrica-engavetada-y-el-p2p-temblando-289243
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