The 1994 new Electricity Law, passed under the administration of President Carlos Roberto Reina, was born as a response to the crisis. It contained provisions for the establishment of a competitive power market (vertical unbundling, freedom of entry to all sector activities, open access to transmission and distribution networks, and freedom of choice for large users); the separation of the roles of policy making, regulation, and provision of electricity services; application of cost-recovery tariffs and targeted subsidies; and private provision of electricity services.