U.S. investors called for dialogue with the Mexican government to keep investments with the Federal Electricity Commission (CFE), with new methods that benefit both parties.
By participating in the Mexico-United States 2025 Forum, Five Pillars of the Bilateral Relationship, organized by the Special Monitoring Committee for the Implementation of the Senate T-MEC, American businessmen assured that with the approval of the reforms to the Mexican Electricity Industry Law will only generate gross energy.
In his speech, John McNeece, of US San Diego, referred to the event recorded a few days ago, when Texas cut off the gas supply to Mexico, which he described as a “disaster.”
He noted that Mexico needs to plan for the future to handle such risks and this is where private investors can collaborate on how to increase natural gas and oil production.
He recalled that now the approach of President Andrés Manuel López Obrador is Pemex, but his government may partner with foreigners to plan how to minimize the risk of power outages in the future.
He stressed that Mexico must turn to renewable energy, a situation that would benefit both sides.
“Mexico at the moment, for example, with the change in the electricity industry that you approved, the reality is that it will provide raw energy, it is not my role to talk about this issue, but we can plan for the future with renewable energy. “.
McNeece proposed that the Mexican government and business people dialogue to look for alternatives on how to grow the CFE and make it more efficient.
He said that while CFE is the approach, they can both talk about how to help it, “we can raise funding possibilities, so CFE owns generation, owns equipment with private investor funding, CFE can be the owner and private investors can get the return they need. There are investment methods we can benefit from. “
CONCERN
For companies or those affected who seek to impose lawsuits against the reform of the electricity law once it enters into force it will be more difficult to move forward in litigation, as it is a law as such and not a regulation, stated the former Undersecretary of the Electrical Industry, César Hernández.
“A law is not the same as a regulation, so I would not be surprised if many shelters were not successful,” the specialist stated during the inauguration of the Electricity for the Future of Mexico forum.
For the lawyer of the Foley Arena office, David Berezowsky, there will be a wave of protections from all power generators, from those who participated in the auctions, the generators of the previous legal regime (self-sufficiency, cogeneration and IPP), as well as those who build projects merchant for the new electricity market.
He said the reform will further strain the atmosphere with domestic and foreign investors.
For its part, the Business Coordinating Council also assured that this modification will generate demands from the affected companies and will lead to an increase in prices for final products to consumers.
The Chamber of the Transformation Industry of Nuevo León said that the industrial sector is concerned about the shortage crisis that the country experienced a few days ago, so it urged the government to implement a new energy policy of low environmental impact and that it is efficient for all.
During the presentation of the quarterly report October-December 2020, the governor of the Bank, Alejandro Díaz de León, considered that the challenge of this reform is its implementation and achieve a balance between things that are desirable as the efficiency, cost reduction, encourage investment and greater participation of clean energy.
AND MORE
Fitch WILL KEEP EVALUATION AT PEMEX
Rating agency Fitch Ratings reported that it will continue to provide international ratings and analytical coverage for Pemex, as well as its existing international debt issues in the foreseeable future as a service to investors. This, after Pemex reported that Fitch will stop providing its rating services from today Thursday.
With information from: Yeshua Ordaz and Silvia Rodríguez.