Investors from the United States called for a dialogue with the Mexican government so that investments with the Federal Electricity Commission (CFE) are maintained, 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 Commission for the Implementation of the T-MEC of the Senate, US businessmen assured that with the adoption of the reforms of the Mexico Electric Industry law will only generate dirty energy.
In his speech, John McNeece of San Diego, USA, referred to the event recorded a few days ago when Texas cut off gas supplies to Mexico, which he described as a “disaster.”
He pointed out that Mexico needs to plan for the future to manage these types of risks and that this is where private investors can work together to increase production of natural gas and oil.
He recalled that President Andrés Manuel López Obrador’s focus is now on Pemex, but that his government can work with foreigners to plan how to minimize the risk of power outages in the future.
He stressed that Mexico should turn to renewable energy, a situation that would benefit both sides.
“Mexico at the moment, for example, with the change in the electricity sector that you have approved, the reality is that it will facilitate dirty energy, it is not my role to talk about this issue, but we can plan for the future with renewable energies. energy. “
McNeece suggested that the Mexican government and businessmen engage in a dialogue to find alternatives to help the CFE grow and operate more efficiently.
He said that while CFE is the focus, both can talk about how they can help her, “we can propose financing options, for which CFE owns the generation, owns the material with funding from private investors, CFE can own it. and the private investors can get the returns they need. There are investment methods that we can take advantage of ”.
CARE
For companies or stakeholders wishing to file lawsuits against the electricity reform once it comes into effect, it will be more difficult to move forward in the dispute as it is a law as such and not a regulation, the former undersecretary said. of Electrical Industry, César Hernández.
“A law is not the same as a regulation, so I wouldn’t be surprised if many protections were not successful,” said the specialist during the inauguration of the Electricity for the Future of Mexico forum.
For the lawyer of the Foley Arena law firm, David Berezowsky, there will be a wave of protection against all power generators, against those who participated in the auctions, the producers of the previous legal regime (self-sufficiency, cogeneration and the IPP), as well as those participating in the auctions, they built trading projects for the new electricity market.
He said the reform will put further environmental pressure on domestic and foreign investors.
For its part, the Business Coordinating Council also assured that this change will generate inquiries from the affected companies and lead to an increase in the prices of end products for consumers.
The Nuevo León Chamber of the Transformation Industry assured that the industrial sector is concerned about the scarcity crisis the country was experiencing a few days ago, which is why it urged the government to implement a new low-impact energy policy on the environment and that is efficient for everyone.
Presenting the October-December 2020 quarterly report, the Governor of Banxico, Alejandro Díaz de León, considered that the challenge of this reform is to implement it and to achieve a balance between the things that are desirable, such as efficiency, cost reduction and investment promotion. and a greater share of clean energy.
PLUS
FITCH WILL KEEP PEMEX EVALUATED
The rating agency Fitch Ratings reported that it will continue to provide international ratings and analytical coverage of Pemex, as well as of its existing international debt problem for the foreseeable future as a service to investors. The foregoing after Pemex reported that Fitch will stop providing its rating services from Thursday.
With information from: Yeshua Ordaz and Silvia Rodríguez.