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LatinNews Daily - 22 July 2020
In brief: Mexico’s state energy company plans expansion
* The administrative council of Mexico’s state-owned electricity company Comision Federal de Electricidad (CFE) has approved an investment trust that will allow the CFE to be financially independent. The trust will finance the construction of five new power plants and the acquisition of more plants, which will enable the CFE to generate 54% of Mexico’s energy by 2024. The CFE highlighted that the measure will fulfil a “presidential instruction to rescue and strengthen the company, as well as to ensure Mexico’s energy security.” The government led by President Andrés Manuel López Obrador has been criticised by private electricity firms, business lobby groups, and NGOs, and faced legal action over changes to the electricity market regulations which favour the CFE and endanger the participation of private renewable energy firms in the energy market.
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