The Energy Regulatory Commission (CRE) liberalized the price of natural gas in the northern area of the country on June 18. By abolishing maximum prices the commission expects that the market will lead the prices, therefore allowing for more competition and a fair market.
On June 20, CRE also published the set of activities that may use isolated supply through private networks, as well as the regulations to follow. With this new criteria and regulation more clarity is expected, therefore allowing for an ease on the financing of projects and ultimately incentivizing the sector.
Enrique Alba, Director General of Iberdrola Mexico, announced on June 20 the company’s interest in taking part on the High Voltage Direct Current (HVDC) tender as their first step to become a player in the Mexican transmission market. The company has a goal to invest up to US$5 billion in Mexico before 2020
On June 21 the International Energy Agency approved by unanimity the adhesion of Mexico, making the country its thirtieth member. Mexico was also recognized by the development of its Energy Reform. Now, the Senate in Mexico must confirm the adhesion to make it official.
Renewable energies are no longer a niche, said David Giordano, Managing Director at BlackRock. Even with Trump’s intents to revive the coal industry, institutional investors remain interested in renewables.
Wood Mckenzie estimates that, for Oil & Gas Major companies to replicate their 12 percent market share in the renewable energy market, they will have to invest up to US$350 billion in wind and solar from now and until 2035. This, due to the market evolution towards renewable energy consumption. Get the white paper here.
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