LatinNews Daily - 28 August 2019

* Mexico's President Andrés Manuel López Obrador has announced a new deal between the federal electricity commission (CFE) and pipeline construction companies ending a dispute over contracts inherited by his administration which took office in December 2018. The deal will permit the CFE to save US$4.5bn in supplying gas to the electricity industry, enabling the government to maintain its policy of not increasing electricity prices. The companies with which an agreement was reached are: Canada’s TC Energy Corp, Mexico's Grupo Carso, a company controlled by billionaire Carlos Slim, and IEnova, a Mexican unit of US Sempra Energy. The government is still in discussion with Mexican firm Fermaca. Credit rating agency, Moody's Investors Service, said the deal “brings certainty to investments and ensures that the projects will continue advancing”.

End of preview - This article contains approximately 136 words.

Subscribers: Log in now to read the full article

Not a Subscriber?

Choose from one of the following options

• Subscribe
• Sign up for a one-time, 14-day trial