Compania Panamena De Fuerza Y Luz - circa 1960's dated Panamanian Specimen Stock Certificate - Panama Power and Light Company

Specimen Stock printed by American Bank Note Company.

The Panama Power and Light Company, formerly known as Compañía Panameña de Fuerza y Luz, was a prominent utility provider in Panama throughout much of the 20th century. For several decades, it was owned by American interests and eventually came under the control of the Boise Cascade Corporation. As the primary source of electricity and telecommunications for Panama City and Colón, it played a crucial role in the nation’s urban development. However, its foreign ownership became a source of significant contention during the rise of Panamanian nationalism in the 1960s and 70s.

A pivotal moment occurred in June 1972 when the military government led by Omar Torrijos “temporarily� seized the company’s assets. This action was prompted by disputes over service quality and a government demand for a $40 million investment in expansion that the parent company was unwilling to fulfill. Consequently, the seizure led to full nationalization and the consolidation of the sector under the state-run Hydraulic Resources and Electricity Institute (IRHE). Decades later, in 1998, the industry underwent another restructuring and privatization, breaking the former monopoly into several private generation and distribution entities.