Private companies, mainly from Spain and the United States, invested billions of dollars in Mexico to build wind, solar and gas-fired plants under the terms of the 2013 reform. Now, suddenly, the government wants to change those rules
A worker works among the Solar Panels installed by Pireos Power on the roof of a warehouse in the State of Mexico on Wednesday, April 13, 2022. – Mexico’s Congress is set to vote on a constitutional reform promoted by President Andrés Manuel López Obrador that would undo much of the market opening in electrical power carried out by his predecessor. It is unclear if López Obrador has the votes to push the reform through. But the U.S.
And companies with plants, factories and stores in Mexico need to plan how much their energy costs will be and how green the energy will be, so they often signed long-term power supply contracts with private generators. These contracts could now be declared illegal. López Obrador has already passed a law giving the state utility more discretion in deciding whose electricity to buy, but it remains stalled by court challenges. The president may not get the two-thirds majority in Congress needed to pass the constitutional reforms he seeks.
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