The Mexican Senate has approved the secondary laws of a constitutional reform on energy that seek to strengthen the state-owned Pemex and CFE, and to attract private capital to the energetic sector. The new laws will now be sent to the lower house of Congress where it is expected to get final approval. The reform also establishes that the electricity system must operate under conditions of reliability and continuity and must promote the energy transition and decarbonization.
If approved, Pemex would get more freedom and preferable conditions to work with private companies in a range of investment schemes, while retaining control of the projects. The company will also become able to carry out migrations to mixed schemes and exploration and extraction with private companies, maintaining the exclusive right to the area and without contributing capital.
For the CFE, the reform consolidates the priority dispatch of its energy into the grid and mandates that the company produce an average of at least 54% of electricity. For the remaining 46% of generation, mixed private investment schemes may be carried out with the State, which must have at least 54% direct or indirect participation in the projects.
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