Mexican Landmark Energy Liberalization Reform Is Approved
Energy Reform goes far beyond expectations. The 75-year monopoly by state-owned PEMEX ends, and a competitive wholesale power market is created.
On December 12, 2013, the lower house of the Mexican Congress approved the long-awaited energy reform bill (the "Energy Reform"). The Energy Reform was initially discussed and approved by the Senate and then approved by the lower house, in both cases, with the overwhelming majority vote of the members of the ruling Institutional Revolutionary Party (Partido Revolucionario Institucional) and the conservative National Action Party (Partido Accion Nacional).