The Commission on Commerce and Economic Affairs approved Bill 705 in its first debate on October 6, 2026. Introduced on September 7 by Minister of the Presidency Juan Carlos Orillac, the initiative proposes amendments to Law 6 of 1997 and to Law 26 of 1996. The approved consolidated text is still awaiting a second debate before the full National Assembly.

Article 10 amends article 59 of Law 6 and proposes restricting new licenses and concessions when direct or indirect participation exceeds 30% of the national market's installed capacity. The limit would also cover acquisitions through mergers, assignments, absorptions or other mechanisms. The Executive could raise it following a reasoned request from the National Authority of Public Services (ASEP) based on competition conditions or security of supply.

The original version calculated the limit using national electricity consumption and exempted new licenses exclusively serving large loads, such as data centers. The approved consolidated text changes the basis to installed capacity and omits that exception. Accordingly, the version approved by the commission does not support presenting dedicated data-center licenses as exempt from the limit.

For customers, article 22 gives distributors fifteen calendar days from the filing of a complaint to resolve it; an unresolved complaint is deemed decided in the customer's favor after that deadline. Article 21 recognizes credits for quality failures within the deadline set by a final ASEP decision. Article 26 expands compulsory collection to compensate customers and replaces the original monthly 2% with the surcharge applicable under the law.

In distribution, article 4 provides for fifteen-year concessions and competitive majority-stake sales with prequalification. Article 12 provides for smart grids, measurement of actual consumption and contractual fines of up to twenty million balboas when the contract contains the penalty clause. Article 1 permits intervention in providers to guarantee continuity of service, through a reasoned decision and safeguards for the right to a defense.

The proposal still requires the remaining plenary debates, approval by the Executive Branch and publication in the Official Gazette. Article 29 provides for entry into force the following day, except paragraphs 3 through 7 of article 6 and articles 11 and 12 of the bill, deferred until October 22, 2028.