Mexico wants firms to revise contracts so electric rates don't rise




  • In World
  • 2019-02-11 14:53:24Z
  • By Reuters
Mexico
Mexico's President Andres Manuel Lopez Obrador attends a media conference at Palacio Nacional in Mexico City  

MEXICO CITY (Reuters) - Mexican President Andres Manuel Lopez Obrador said on Monday he wants to revise the contracts that private energy companies have with state-run power utility CFE so they do not hike electricity prices.

"We are urging companies that have agreements with the Federal Electricity Commission (CFE) to come together to review contracts and above all to reach an agreement that electricity prices will not increase," Lopez Obrador said during his morning press conference.

"We are looking to achieve a voluntary restructuring of agreements and commitments within the framework of the law ... The Mexican government is committed to not increasing electricity prices for consumers, but we want private companies to help in this initiative," said Lopez Obrador.

Lopez Obrador has been a staunch critic of landmark 2013-14 energy reforms that ended the wholesale electricity monopoly held by CFE and opened up the Mexican oil industry to private investment.

The reforms ended state oil company Pemex's decades-long monopoly by allowing private producers to operate projects on their own as well as enter into partnerships with Pemex known as farm-outs.

(Reporting by Anthony Esposito and Miguel Angel Gutierrez; Editing by Jeffrey Benkoe)

COMMENTS

More Related News

Mexico
Mexico's COVID-19 death toll could surpass 30,000: deputy health minister

Mexico's death toll from the coronavirus pandemic may reach 30,000, a senior health official said in a newspaper interview published on Wednesday, while suggesting fatalities could be even higher if social distancing measures were relaxed too fast. With 10,637 deaths registered so far, Mexico has the seventh-highest coronavirus death toll in the world, with few signs that the number of new cases and deaths is slowing down. Known infections in Mexico are likely to pass 100,000 on Wednesday, but officials say the true number of deaths and cases is likely higher due to limited testing.

Missing Mexican congresswoman
Missing Mexican congresswoman's body found a month after abduction
  • US
  • 2020-06-03 17:33:39Z

* Anel Bueno, 38, was snatched in Pacific coast town * Area important for drug cartels is country's murder capitalThe body of a missing Mexican congresswoman has been found in a shallow grave more than a month after she was abducted by armed men while raising awareness about the coronavirus pandemic.Anel Bueno, a 38-year-old lawmaker from the western state of Colima, was snatched on 29 April in Ixtlahuacán, a town on a stretch of Mexico's Pacific coast that the drug trade has made one of the country's most murderous regions.Mexico's President Andrés Manuel López Obrador told reporters on Wednesday a suspect had been detained over the killing of Bueno, who was a member of his party,...

Mexico
Mexico's president goes full-steam ahead with Mayan train

Residents of Mexico's Yucatan peninsula remember riding trains to visit relatives or sell their produce decades ago, so when President Andrés Manuel López Obrador made a nostalgic pitch to build a "Mayan train" through the region's jungles the mainly indigenous residents were initially receptive to the idea. Many communities in the train's path feel deceived by scarce and incomplete information, while activists fear the social and environmental impacts. López Obrador says it will create 80,000 jobs at a time that nearly a million have been lost to the lockdown caused by the novel coronavirus.

Mexico
Mexico's president says military is aiding missing students probe

Mexico's military is cooperating with a fresh probe into the 2014 disappearance of 43 student teachers, Mexican President Andres Manuel Lopez Obrador said on Tuesday. The apparent massacre of the youths, whose remains are still being searched for, is widely believed to have been committed by corrupt police working with a violent drug gang, and has drawn international outrage. Lopez Obrador, who came into power in 2018, has vowed to uncover what really happened and examine the prior handling of the case, which led to one of the worst crises of his predecessor Enrique Pena Nieto's administration.

Mexican president defies leftist label in virus response
Mexican president defies leftist label in virus response

When Andrés Manuel López Obrador won Mexico's presidency after years of agitating for change, many expected a transformative leader who would take the country to the left even as much of Latin America moved right. Instead, López Obrador is leading like a conservative in many ways - cutting spending, investing heavily in fossil fuel development and helping the U.S. crack down on the northbound flow of migrants. As coronavirus spreads through Mexico, the president known as AMLO has rejected widespread shutdowns and pressed to keep the economy going.

Leave a Comment

Your email address will not be published. Required fields are marked with *

Cancel reply

Comments

Top News: World