## Lawmakers Approve Reform to Designate CFE and PEMEX as Public Companies, Preventing Monopolies
In a significant legislative move, the Commission of Constitutional Points in the Chamber of Deputies of the Congress of the Union has approved a reform to articles 25, 27, and 28 of the Constitution. The reform aims to re-establish the Federal Electricity Commission (CFE) and Petróleos Mexicanos (PEMEX) as public companies, moving away from monopolistic practices.
With 21 votes in favor from members of Morena and the Green Ecologist Party of Mexico (PVEM), against 16 votes from the National Action Party (PAN), the Institutional Revolutionary Party (PRI), the Democratic Revolution Party (PRD), and the Citizens’ Movement (MC), the reform was passed on August 15, 2024.
The approved decree stipulates that private companies “under no circumstances” would prevail over the state in various activities within the electrical industry. It also ensures that exclusive state operations, such as internet services and lithium resources, do not constitute monopolies.
Further, the reform prioritizes the planning and control of the national electrical system to provide affordable electricity to the public, maintain national energy security, and curb profit-making motives. The state is also tasked for overseeing the energy transition and sustainable utilization of national energy sources to reduce greenhouse gas emissions.
Additionally, lithium and internet services have been incorporated as strategic sectors under state control. According to transitional articles, the Congress of the Union has 180 days from the enactment of this decree to make necessary adjustments to the respective secondary laws.
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## State Oil Company Eyes New Horizons: PEMEX Plans Massive Investments in Renewable Energy
As part of an ongoing shift towards sustainability, PEMEX announced its plans to invest heavily in renewable energy projects over the next decade. The state oil company is looking into developing wind, solar, and biofuel projects across Mexico, aiming to pivot from conventional energy sources to more sustainable options.
This move comes amidst growing global pressures to mitigate climate change and reduce carbon footprints. PEMEX’s investment plan includes collaboration with both local and international firms to leverage cutting-edge technology and expertise. The initiative is expected to create thousands of jobs and position Mexico as a leader in renewable energy within Latin America.
State authorities have lauded the effort, indicating that such investments are crucial to aligning national energy policies with global environmental standards. The strategic shift is also seen as a method to ensure long-term energy security while minimizing environmental impact.