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Outlook: Impact of Economic Growth on Energy Demand

By Mónica López | Fri, 03/19/2021 - 14:39

You can read out editorial coverage of this panel here.

Mexico needs to include renewable energy in its path toward energy transition. This was one of the conclusions drawn during the panel “Outlook: Impact of Economic Growth on Energy Demand,” on Wednesday, Mar. 10, during Mexico Energy Forum 2021. “Mexico needs more transparent legislation regarding electricity to meet global energy goals,” said Claudio Rodríguez, Partner of International Energy Practice at Thompson & Knight. “There is a trend towards renewable energy due to its lower costs and good impact on the environment.”

Panelists discussed the main problems Mexico is facing in terms of energy supply, especially in ensuring reliable electricity availability throughout the country. “We have a great challenge in electricity. Recently, the blackouts caused by the cold wave in Texas showed the vulnerability of our infrastructure and how we cannot depend on the volatility of other markets,” Leonardo Beltrán Rodríguez, Non-Resident Fellow at the Institute of the Americas, explained. Beltrán said that basing energy production on fuels can have a significant impact on both public health and the environment. In his opinion, urban areas will be more vulnerable because of their proximity to industrial centers. This approach will also mean Mexico will not be able to meet its environmental goals. Beltrán added that electricity policies have an impact on businesses in a country that sends 80 to 90 percent of its exports to the US.

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