In Mexico, president's electricity overhaul bill defeated in congress
By 19 April 2022
Flag of Mexico (photo credit: DavidRockDesign / pixabay)
Mexican President Andres Manuel Lopez Obrador's plan to increase state control of power generation was defeated in parliament [...] as opposition parties united in the face of a bill they said would hurt investment and breach international obligations.
His National Regeneration Movement (MORENA) and its allies fell nearly 60 votes short of the two-thirds majority needed in the 500-seat lower house of Congress, mustering just 275 votes after a raucous session that lasted more than 12 hours.
Seeking to roll back previous constitutional reforms that liberalized the electricity market, Lopez Obrador's proposed changes would have done away with a requirement that state-owned Comision Federal de Electricidad (CFE) sell the cheapest electricity first, allowing it to sell its own electricity ahead of other power companies.
Under the bill, the CFE would also have been set to generate a minimum of 54% of the country's total electricity, and energy regulation would have been shifted from independent bodies to state regulators.
Read the full article here: Reuters