CFE Director Continues Mission to ‘Save the Company’

Manuel Bartlett, Director General, CFE, presented his analysis at the Chamber of Deputies. Bartlett highlighted President López Obrador's mission to save the company and its importance in defending energy sovereignty and expanding telecommunications. In other news, CRE looks to alter regulation regarding the net metering of small solar power systems.

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CFE Director General Presents Analysis; IMCO Reports CFE Finances

Manuel Bartlett, Director General, CFE, presented the state utility’s financial results to the Chamber of Deputies. He said that the company’s increase in debt was due to necessary investments carried out through financing schemes. The Mexican Institute for Competitiveness (IMCO) published a report on CFE’s 3Q22 financial results. IMCO found that CFE registered a net loss for the third consecutive year. According to IMCO, the transfers received by the CFE from the federal government for the subsidy for electricity rates grew for the fourth consecutive year.

CRE Wants to Alter Net Metering for Smaller Solar Systems

The Regulatory Energy Commission (CRE) presented a proposal to the National Commission for Regulatory Improvement (CONAMER) to modify regulations for solar panel users. These modifications aim to eliminate net metering. CRE proposes that solar system owners must liquidate their energy surplus every month. CFE will pay the users for their surplus energy, but the tariffs will no longer be profitable, which greatly diminishes the economic viability of a photovoltaic solar system.

Hitachi Energy, Equinor Sign Strategic Collaboration Agreement

Hitachi Energy signed a strategic collaboration agreement with Equinor to foster participation in electrification initiatives, renewable energy power production and lower carbon emissions worldwide. The main collaboration areas include the development of standardized base designs HVDC and alternating current (AC) transmission systems to connect offshore wind farms and Equinor production facilities to mainland power grids.

Mexico Prepares Answers for USMCA Consultations

Raquel Buenrostro, Mexico’s Minister of Economy, said that Mexico is expecting to have concrete answers ready for the consultation process started by the US and Canada under the USMCA’s Dispute Settlement Chapter due to Mexico’s alleged violations of the trade agreement because of a shift in energy policy. The subsequent sanctions in energy could permeate other economic sectors such as agribusiness, automotive and manufacturing due to tariffs on Mexican export products.

Mexico’s Promises: Double Renewable Capacity, Fewer Emissions

Marcelo Ebrard, Mexico’s Foreign Minister, pledged a reduction in gas emissions of 35 percent by 2030 at COP27. Ebrard said that Mexico will invest US$48 billion with the support of the US. Ebrard also discussed the importance of foreign investment to achieve these goals. Moreover, he announced that Mexico would reduce flaring and increase its cut in emissions from 22 percent to 33 percent by 2030.

International

Geothermal Energy Reduces Primary Energy Consumption by 60 Percent in a Sant Cugat School

The school Pins del Vallés in Sant Cugat, Spain implemented a geothermal installation. This is one of the five geothermal systems developed within the framework of the European Geofit project, which was presented at the European Geothermal Congress 2022 in Berlin.