Mexico City.- The Federal Electricity Commission (CFE) said that it is in “an excellent financial situation”, after last week the Mexican Institute for Competitiveness (IMCO) reported that the company’s generation subsidiaries accumulated losses for 38.79 billion pesos, between 2021 and 2024.
CFE accused the private analysis center of having a “limited” vision of the responsibilities of a public company.
“(IMCO) points out that there were ‘losses’, while omitting that a single event, the unavailability of natural gas because of a winter storm in February 2021, represented 42.7% of the red numbers of the entire previous administration,” he said in a statement.
He argued that in his report, IMCO did not quantify what the economic impact that represented the decision that the costs of these incidents were not transferred to the homes and the Mexican industry, as in countries such as Spain, “whose laws were the inspiration of the 2013 energy reform, promoted by organizations such as IMCO”.
“If to ‘avoid losses’ the cost of weather and geopolitical events must be charged
unforeseen to end users, the position of the current Government of Mexico is not such, nor was it from
preceding. On the contrary, it has acted so that the electric rates do not rise above
Inflation, ”he argued.
Soser context:
CFE generation subsidiaries accumulate losses for more than 62 mmdp in 2024: IMCO
He added that since the previous administration it was defined that the company had to fulfill a social sense, and not only with the generation of economic benefits.
“This was carried out despite the increase in the price of gas by the aforementioned polar vortex in Texas (
which represented an impact greater than 70 billion pesos) and the increases in the same
Fuel for the war between Russia and Ukraine, ”he explained.
He stressed that the expansion plan of the National Electric System 2025 – 2030 has taken
Measures so that these scenarios are not repeated.
He added that an expansion program was presented not only in electricity generation, but also with projects for the strengthening of the National Transmission Network and Networks
General distribution, which, he trusted, will strengthen the operation of the company and improve its position
Financial, “while giving priority to energy justice to serve the population that
It lacks the electric power service in the country. ”
CFE also defended its payment policy to suppliers and assured that the variation in the liabilities observed between December 2024 and June responds to the operational seasonality in the execution of contracts, the increase in the activity of public works and acquisition of goods and services, as well as the payment policies established to validate and program the payments.
He assured that he maintains a healthy payment policy with its suppliers, which reflects an administration
of the cash flow aligned to the programming of the spending, with a period of 30 payments
Days: “Strictly complied with regulatory and contractual payment terms to suppliers.”
He pointed out that the perspectives at the end of exercise 2025 estimate a reduction in the balance of suppliers and contractors, since the associated liability is consistent with the calendar of the budget year, where the payments are historically concentrated in the last quarter of the year.
Finally, he stressed that the 2024 energy reform allowed the CFE to resume its social vocation and strengthen its role within the national electrical system, after what described as a “fragmentation” driven by the 2013 reform.
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