Added state control of power generation rejected in Mexico

Mexico

MEXICO CITY, April 20, 2022 – A bill to allow Mexico’s state-owned Federal Electricity Commission to sell its electricity ahead of private companies has been rejected by the country’s Congress, Reuters reported on Sunday.

The vote pushed by President Andres Manuel Lopez Obrador fell short of the necessary two-thirds majority.

The deal would have taken away the Federal Electricity Commission’s requirement to sell the least expensive electricity first, moved energy regulation away from private bodies and nationalised the country’s lithium resources.

If passed, the bill would have allowed the Federal Electricity Commission access to 54% of the market.

Contenders argued the policy would violate trade deals with the US and Canada.

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