• HARMFUL: The Mexican government’s directive to displace private clean energy companies in the electric sector -in favor of state-owned fuel oil plants- will harm consumers, Mexico’s antitrust watchdog (COFECE) warned Thursday.
• CONSUMERS: “Mexican consumers will be affected, either directly through the payment of their electricity bills or through the inefficient use of public funds to subsidize rates (of fuel oil plants)”, said COFECE in a series of recommendations regarding last week’s directive.
• LEGAL: Earlier this week, the renewables industry said it was mulling emergency injunctions to stop the government’s suspension of tests of new wind and solar power plants. Today, the US Ambassador to Mexico, Chris Landau, said he hoped Mexico valued foreign investment in energy.
• BENEFIT: “Investment will go where it is welcome and if Mexico…I’m very hopeful that they will welcome foreign investment and recognize that that benefits them and is not any kind of exploitation of them…I think this is particularly important in the energy sector”, Landau said.
