MEXICO CITY, April 18 (Reuters) – Mexican President Andres Manuel Lopez Obrador’s plan to increase state control of power generation was defeated in parliament on Sunday, as opposition parties united in the face of a bill they said would hurt investment and breach international obligations.
Date: April 18th, 2022
Source: Reuters
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.
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