Nuevo Leon Doubles Efforts to Strengthen Local Energy Sector

Following Nuevo Leon’s Infrastructure Forum, where topics such as energy self-sufficiency and transmission were discussed, the state will hold the second edition of the Hydrogen Expo. Industry leaders met in Monterrey last week and agreed on the energy efforts necessary to leverage the nearshoring phenomenon and attract foreign investment to Mexico.

Similarly, CFE has continued its effort to strengthen its infrastructure: the state-owned electric utility has invested over MX$151 billion (US$8.02 billion) during this administration to improve the energy supply in Yucatan.

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Experts Highlight Energy as Driver for Nearshoring in Mexico

Nearshoring and energy were recurring themes at Monterrey’s 8th Mexico Infrastructure Projects Forum. The proximity of Mexico's northern states to the US border has driven FDI growth fueled by nearshoring goals. Despite this great opportunity, the Mexican Association of Energy (AME) underlined Mexico’s energy impediments.

CFE Invested US$8 Billion in Yucatan

According to Manuel Bartlett, Director General, CFE, the state company has invested over MX$151 billion (US$8.02 billion) during the López Obrador administration to improve the energy supply in Yucatan; creating 11,700 direct and 16,800 indirect jobs, the director.

Second Edition of Hydrogen Expo to Take Place in Nuevo Leon

Nuevo Leon hosted this week the second edition of the Hydrogen Expo. The organizers reported that the registration of participants for the expo has already increased by 350% in comparison to the previous edition.

ExxonMobil, Mexico Pacific Sign LNG Sales and Purchase Agreement

ExxonMobil and Mexico Pacific signed two long-term Sales and Purchase Agreements (SPAs) for the sale of a combined 2MMTPA of LNG. The agreement between Mexico Pacific and Exxon represents an important step in Exxon’s environmental plan. 

Ebrard Shows Puerto Peñasco Solar Power Plant to Diplomats

On Feb. 2. 2023, Marcelo Ebrard, the Mexican Minister of Foreign Affairs, accompanied by Alfonso Durazo, the Governor of Sonora, hosted a visit to Puerto Peñasco’s new landmark solar park in Sonora to show off the infrastructure to 87 ambassadors and representatives of 25 international organizations.

CFE Updates Its Electricity Rates for 2023

CFE said it will implement its annual price adjustments for basic and intermediate consumption in Mexico City and the State of Mexico. Throughout 2023, rates will rise by 7.1%. This increase is part of the annual adjustment to service prices in line with inflation rates. President López Obrador has pledged to keep energy prices below the inflation rate. However, experts warned that to keep costs down for power production, CFE has partially relied on PEMEX’s fuel oil to generate cheaper but more polluting energy.

Nuevo Leon Prepares Energy Census

Iván Rivas, Minister of Economy, Nuevo Leon, announced that the state government and CFE are working on an energy census to determine where new transmission and distribution lines are needed.

CFE to Pay US$1.6 Billion of Debt in 2023

State electric utility CFE reported it faces debt payments of MX$31.64 billion (US$1.6 billion) in 2023. The company’s total debt stands at MX$433.35 billion (US$22.8 billion). CFE has the second largest debt of companies listed on the Mexican Stock Exchange. Nevertheless, analysts believe that the company remains stable as it generates capital flows through different business divisions.

CENACE, CFE Announce 2023 Power Production, Transmission Tariffs

The National Energy Control Center (CENACE) updated the costs of its services as the grid operator for power producers, which will remain in force from Jan. 1, 2023 to Dec. 31, 2023. The New tariffs reflect a 15% reduction in comparison to 2022 operating fees.