One of the principal commitments of Mexico’s new presidential administration has been to implement reforms in sectors deemed key to national development. Mexico’s new Energy Reform Bill addresses two of these key sectors: hydrocarbons and power.
In August, President Enrique Peña Nieto submitted the bill to Mexico’s Congress. In his recent State of the Union address, Peña Nieto confirmed his commitment to move forward with implementing legislation within 180 days. The Energy Reform Bill would amend parts of the Mexican Constitution to open the basic petrochemical industry to private investment through licensing and to permit profit-sharing agreements. In addition, the bill lays the groundwork for greater private investment in the power sector with the aim of spawning a competitive market while still maintaining state control over the power transmission grid.
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