CFE FIBRA E Sees 81% Increase in 2Q24 Distributions

At the end of the 2Q24, holders of CFE FIBRA E certificates received a total of MX$899.25 million (US$49 million) in tax benefits and capital reimbursement, marking an 81% increase compared to the previous quarter. 

According to the report from CFE Capital, the manager of CFE FIBRA E, delivered to the Mexican Stock Exchange (BMV), this increase is attributed to high electricity demand driven by seasonal factors and strong performance of the electrical grid. Electricity demand rose by 7.13% compared to the same period last year, and the National Transmission Network Availability Index (RNT) reached 99.58% as of June 30, 2024.

In May, record temperatures nationwide led to increased electricity demand for air conditioning and other cooling systems, resulting in power outages in several states. So far this year, the FIBRA E has distributed a total of MX$1.393 billion to certificate holders. Of this amount, MX$494.52 million corresponds to 1Q24 and MX$899.26 million to 2Q24. The second-quarter distribution of MX$0.6502 per certificate (Series "A") was successfully executed on June 28, 2024, exceeding the minimum quarterly distribution by 13%.