Mexico's top business lobbies over the weekend excoriated new rules to govern the electricity sector, arguing they will hit investor confidence and stunt growth in renewable energy, as tensions rise between the private sector and the government.
MEXICO CITY - Mexico’s top business lobbies over the weekend excoriated new rules to govern the electricity sector, arguing they will hit investor confidence and stunt growth in renewable energy, as tensions rise between the private sector and the government.
The row deals another blow to relations between the business community and President Andres Manuel Lopez Obrador, who has alarmed investors with his push to boost state control over energy, often by seeking to revisit existing commitments. The leftist Lopez Obrador has promised to increase Mexico’s energy independence, and argues that some contracts signed with prior governments were a rip-off for taxpayers.
The measures published Friday give the Mexican government more control over the approval of new renewable energy projects. They are likely to be contested.
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