Mexico's Business Coordinating Council (CCE), representing the business community in the country, defended Monday its investments in the electricity field after President Andres Manuel Lopez Obrador a. Businessmen defend investments after Mexican president's remarks | Business | English edition | Agencia EFE
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Dave Graham
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MEXICO CITY, Feb 9 (Reuters) - Mexican President Andres Manuel Lopez Obrador is gambling he can use a contentious new bill to cement public sector control of the electricity sector without inundating his government with more lawsuits from investors already smarting from his policies.
Corporate lobbies have objected to the bill, which will give priority in electricity dispatch to national power utility the Comision Federal de Electricidad (CFE), and eliminate Mexico’s obligation to buy power through auctions.
Mexico’s Business Coordinating Council (CCE) called the shake-up an “indirect expropriation”, while the U.S. Chamber of Commerce said it violated the United States-Mexico-Canada Agreement (USMCA) trade deal.
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MEXICO CITY (Reuters) - Mexican President Andres Manuel Lopez Obrador is gambling he can use a contentious new bill to cement public sector control of the electricity sector without inundating his government with more lawsuits from investors already smarting from his policies.
A general view shows high voltage power lines owned by Mexico s state-run electric utility known as the Federal Electricity Commission (CFE), in Santa Catarina, on the outskirts of Monterrey, Mexico February 9, 2021. REUTERS/Daniel Becerril
Corporate lobbies have objected to the bill, which will give priority in electricity dispatch to national power utility the Comision Federal de Electricidad (CFE), and eliminate Mexico’s obligation to buy power through auctions.