Mexico: The President's Energy Nationalism Creeps Forward

Feb 11, 2019 | 21:44 GMT

Mexico's populist president has made no secret of his disdain for the country's 2013 energy reforms, which ushered in a wave of deregulation in the sector. Now, it seems, Mexican President Andres Manuel Lopez Obrador is also training his sights on the electricity industry in the hopes of carving out better terms for Mexico. According to a Feb. 10 report, Lopez Obrador's government is planning to review contracts signed between the Spanish electric utility company Iberdrola and Mexico's Federal Electricity Commission. Iberdrola ultimately intends to supply a quarter of the country's power -- enough to make it a threat to Lopez Obrador's goal of giving the state pride of place in generating and selling power. At the same time, Iberdrola attracted Lopez Obrador's ire after its U.S. subsidiary gave one of his predecessors, Felipe Calderon, a position. According to Mexico's president, however, that is tantamount to "corruption" due to legislation...

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