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Weekly Roundups

Energy Bill Block Prompts Inquiry, Constitutional Change Plan

By Cas Biekmann | Thu, 03/18/2021 - 18:04

After facing another suspension against his electricity law initiative, President López Obrador announced he asked for an inquiry regarding the judge’s actions. The president also announced a constitutional change would be the next step if the bill gets invalidated by the Supreme Court. Ready for more? Read the roundup here!

 

Mexico

Inquiry Against Judge Following Electricity Law Suspension

Just two days after President López Obrador managed to pass his electricity law initiative, which altered the 2014 Energy Reform to support state-owned CFE, a judge froze it temporarily. López Obrador pointed out the judge by name in his morning press conference, after having sent a request for an inquiry to the Supreme Court. López Obrador said that judges are not untouchable and that he will continue to report “atypical” situations, particularly the ones related to big businesses. “This complaint is in the hands of the judiciary counselors. Back in the day, neither a judge, magistrate nor a minister would ever get punished. Judges today cannot be untouchable; that is over,” said López Obrador.

 

Constitutional Change Could Follow Energy Reform Suspensions

Following the suspension, the president said that if his initiative is considered unconstitutional by magistrates and judges, he would then send an initiative to Congress to reform the Constitution. During Wednesday’s morning briefing, the president said that he was sure that the legislation was not unconstitutional.

 

Energy Efficiency Measures Improve Mexico City’s Metro System

Mexico City Mayor Claudia Sheinbaum announced that the city will increase its spending on the modernization of the Metro system from US$1.8 billion to US$2 billion. The improvements, which will take around three years to complete, were deemed necessary following a fire in January that brought the system to a full stop. To improve safety and energy efficiency, a power line upgrade is one of the main components of the construction.

 

Canada Outs Concern Over Electricity Law Initiative and Investments

Bloomberg News reported that Canadian Prime Minister Justin Trudeau’s government has outed its concern over Mexico’s new electricity law initiative, fearing it might harm Canadian investments in the country. The Canadian Minister of Economy and her Mexican counterpart have already discussed the issue in person.

 

International

Renewable Energy Return of Investment Beats Fossil Fuels in 2010s

ROI of renewable energy was three times as high as those of fossil fuels during the past decade, reported S&P Global Platts, highlighting a 367 percent difference. The results come from a report held by the International Energy Agency (IEA) and the UK’s Imperial College.

 

Rapid Growth of Renewable Energies Necessary to Meet Paris Agreement Goals: IRENA

The International Renewable Energy Agency (IRENA) said that US$131 trillion in renewable investment could be necessary for countries to meet the goals established in the 2015 Paris Agreements regarding climate change. Renewable power production would need to grow eightfold in order to stem global warming, according to The Guardian.

The data used in this article was sourced from:  
Reuters, La Jornada, Bloomberg News
Cas Biekmann Cas Biekmann Journalist and Industry Analyst