CFE Strengthens International CollaborationBy María José Goytia | Thu, 09/01/2022 - 09:00
Mexico’s grid operator CENACE signed a cooperation agreement with its counterpart in El Salvador. Meanwhile, business leaders warn Mexico is losing a unique opportunity to attract new investments because of its energy policy. Moreover, IMCO published its new report on natural gas and Mexico’s energy security. In other news, the eleventh edition of the Mexico Energy Forum 2022 ECHO is just around the corner.
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The National Energy Control Center (CENACE) and the Transactions Unit of El Salvador signed a technical cooperation and technological exchange agreement. The purpose of the partnership is the exchange of experiences, as well as the progress of research, development and technology transfer activities. Ricardo Mota Palomino, Director General, CENACE, and Luis Enrique González Paredes, General Manager, Transactions Unit signed the deal.
Mexico’s regulatory changes in the energy sector, favoring CFE at the expense of private sector participation in generation, have slowed down foreign direct investment by companies seeking to take advantage of nearshoring in Mexico. Due to the change in energy policy, Mexico lost out on millions of investments by Tesla and Samsung for the manufacture of electric vehicles and semiconductors. This loss of opportunity is repeated in multiple cases of companies re-evaluating their investment in Mexico regardless of nearshoring’s momentum, warn business leaders.
The Mexican Institute for Competitiveness (IMCO) published its study about the impact of natural gas on the country's energy security. Among its findings, IMCO highlights the urgency for investment in domestic natural gas production and storage infrastructure.
During a meeting with CFE workers in Veracruz, President López Obrador lashed out against Iberdrola and other private power produers. López Obrador asserted that foreign companies used to do business with previous governments, and that they had “the perverse intention of destroying the CFE” by closing its plants because the commission allegedly produced dirty energy.
During a CFE event in Chiapas, where the first stage of the plan to install antennas for internet access was announced, Manuel Bartlett, General Director, CFE, shared off-color jokes with the state company's personnel. Among the comments, the adjectives "mugrosos, colados y de corbata," meaning filthy, sneaky and white-collared, stood out. The jokes amused the attendees, including President López Obrador.
Next week, Mexico Energy Forum 2022 will gather industry leaders to share insights about the sector, with a special focus on natural gas. The forum will be preceded by the first edition of Mexico Natural Gas Forum 2022. Both platforms represent a unique opportunity to debate relevant issues surrounding Mexico’s main fuel for power production and the opportunities other power sources are opening in the market, providing firsthand information on one of Mexico’s most relevant and complex industries. Mexico Business is proud to extend an invitation to the Mexico Natural Gas Forum, on Sept. 6, 2022, and the eleventh edition of the Mexico Energy Forum 2022, on Sept. 7 and 8, 2022.