USMCA Demands Remain an Issue
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USMCA Demands Remain an Issue

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Perla Velasco By Perla Velasco | Journalist and Industry Analyst - Wed, 11/30/2022 - 17:14

Canada’s Minister of International Trade, Mary Ng, met with Mexico’s Minister of Economy, Raquel Buenrostro, at the Pacific Alliance Summit. Ng raised concerns over the energy sector reform measures, stating that Canada could explore other resources to solve the dispute. In addition, she highlighted the importance of following science-based regulatory approaches when approving biotech.

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Canada Emphasizes Concerns Regarding Energy Dispute

Canada’s Minister of International Trade, Mary Ng, met with Mexico’s Minister of Economy, Raquel Buenrostro, at the Pacific Alliance Summit. The two ministers discussed the issues regarding the USMCA controversy. Canada’s concerns regarding its commercial relationship with Mexico include problems in the investment and regulatory environment in Mexico’s energy and mining sectors. 

Ammper Energia Presents New Brand: Set the World

The Mexican company Ammper Energia recently released Set the World (STW), a new brand dedicated to the development of comprehensive strategies regarding environmental, social and corporate governance (ESG) topics. During the presentation of STW, various companies highlighted the positive effects that a renewed focus on ESG has had in the investment market.

TC Energy Reports Update on Mexican Projects

TC Energy issued its 3Q22 report and highlighted its natural gas pipeline projects and its alliance with CFE. The company announced strong results and underlined its strengthened commercial ties with Mexico, bolstered by its natural gas pipeline projects and alliance with state utility CFE. The report cited the alliance TC formed with CFE in August 2022 for the development of natural gas infrastructure, Southeast Gateway pipeline.

SENER to Audit CFE’s Legal Separation

The Ministry of Energy (SENER) announced that it will audit the legal separation of CFE’s subsidiaries. According to the statement, no opportunity areas were encountered by the 2018 audit conducted by an external. However, in 2018, SENER stated that, while the 2018 audit did not find any relevant opportunities to improve decision-making, the SENER found irregularities in CFE’s portfolio while conducting TESL, though none warranted an audit.

Enel Will Focus on Sustainable Electrification From 2023-2025

Enel Group announced its 2023 - 2025 Business Plan. During this period, the company will invest around €15 billion (US$15.55 billion) in the growth and efficiency of its projects to accelerate sustainable electrification around the world. Enel Group aims to cover approximately 90 percent of its fixed-price sales with carbon-free electricity by 2025, raising its overall renewable power production to 75 percent.

Boric Invites Mexican Players to Invest in Chile’s Renewables

While Chile leads BloombergNEF’s annual Climascope assessment of the most attractive markets for investment in renewable energy projects, Mexico ranked 63rd among 107 emerging markets and 90th among all markets. At the Pacific Alliance Summit, Chilean President Gabriel Boric discussed the bilateral reinforcement of the green energy transition with Mexico.

Evergo to Install 15,000 Charging Stations in Mexico

InterEnergy Group announced that its company Evergo plans to install 15,000 charging stations in Mexico. Evergo arrives in Mexico through the acquisition of the Mexican company E-Drive. The company will invest US$200 million over the next five years to boost Mexico’s green mobility options.

Construction Companies in the Energy Sector Face Uncertain Times

The 2022 budget analysis of the Mexican Chamber of the Construction Industry (CMIC) unveiled a negative outlook for the energy sector. According to the analysis, CFE’s public works for this year resulted in total spending of MX$11.42 billion (US$591.3 million), 22 percent lower than the previous year. 

Federal Courts Declare CRE Resolution to Be Unconstitutional

The collegiate courts specialized in economic competition approved amparos for different companies that requested legal protection from CRE’s resolution in 2020 that prohibited private companies from adding new partners to their electricity self-supply permits. To implement the 2020 resolution, CRE argued that the 2017 resolution distorted the purpose of self-supply permits,  causing a distortion in the market and the activities regulated by the Electricity Industry Law (LIE). 

Engie, CFE to Expand Mayakan Pipeline

CFE announced that it celebrated an agreement with Engie to determine the technical and commercial terms for the expansion of the Mayakan pipeline in Yucatan. The pipeline is expected to supply two new combined cycle plants, Merida IV and Valladolid IV, which together have a capacity of over 1.5GW.

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