President Claudia Sheinbaum affirmed this Thursday that private investors “have nothing to worry about” with the energy reform of former president Andrés Manuel López Obrador now approved in the Chamber of Deputies to privilege state companies.
“We are the ‘Fourth Transformation’ (the López Obrador movement) and that means paying attention to the people and generating a development model that has given results to the private sector and the people of Mexico, so this reform is very good and they have no generators have nothing to worry about,” he declared in his morning conference.
Sheinbaum celebrated that in the early hours of the morning the Chamber of Deputies endorsed the reform to stop considering Petróleos Mexicanos (Pemex) and the Federal Electricity Commission (CFE) as “productive companies of the State”, which will now be “public companies” so as not to “ compete at the same level as all private companies.”
More context: Deputies approve energy reform so that Pemex and CFE are ‘public companies’; goes to the Senate
Sheinbaum affirms that the new energy reform reverses that established by Peña Nieto
Despite the nervousness among investors, Sheinbaum argued that “all current contracts are respected,” that private companies will be able to generate 46% of the electricity and that there will be work tables so that “it is understood how they can participate and where they can participate.” .
“Yes, private investment is allowed, the market does follow, but the characteristic is that, if CFE generation exceeds 50%, it is not considered a monopoly. So to the people of Mexico, that is very good,” he said.
The president recognized that the approved modifications do partially reverse the energy reform of the Enrique Peña Nieto Government (2012-2018), which opened the sector to private investment and classified Pemex and CFE as “productive companies of the State” so that they could compete in conditions of equality with individuals.
But she argued that these modifications will prevent situations like that of Spain, where there have been “unpayable electricity rates” after the gas crisis, according to her.
“Our economy depends on energy, on us having the capacity to generate energy in our country. As? With a solid, strong Federal Electricity Commission, and also private investment,” he justified.
The reform also raised alerts regarding the upcoming review in 2026 of the Treaty between Mexico, the United States and Canada (T-MEC), which rejects special treatment for national companies.
With information from EFE.
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