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"A number of countries have found it necessary to re-structure their encumbing generating firms to create effectively competitive generation markets"
Context: Deregulation of utilities in the US.
Explanation: In Literature, the term encumbing means suffocating, all embracing, as in the encumbing earth that surrounded it. In your context, I would think that encumbing generating firms means very top heavy,expensive generating firms, as opposed to....effectively competitive markets, etc. I would translate it as empresas generadoras hinchadas, con costos muy elevados, etc. somewhere aroud that idea. Happy xlating!!
Jaime Backal Local time: 00:04 Native speaker of: Spanish, English PRO pts in pair: 104