Landmark Mexican Energy Reform Is Approved

more+
less-

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 longawaited 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).

To come into force, the Energy Reform must be approved by the majority of the 31 local congresses of Mexico, a process that is currently underway, and then published in the Federal Gazette (Diario Oficial de la Federación). To date, 17 local congresses have approved the Energy Reform; accordingly, the bill will now be sent to the President for publication. The Energy Reform will come into force the day after its publication (the “Effective Date”).

Please see full alert below for more information.

LOADING PDF: If there are any problems, click here to download the file.

Topics:  Energy, Energy Reform, Mexico, Oil & Gas

Published In: Constitutional Law Updates, Energy & Utilities Updates, Finance & Banking Updates, International Trade Updates

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© White & Case LLP | Attorney Advertising

Don't miss a thing! Build a custom news brief:

Read fresh new writing on compliance, cybersecurity, Dodd-Frank, whistleblowers, social media, hiring & firing, patent reform, the NLRB, Obamacare, the SEC…

…or whatever matters the most to you. Follow authors, firms, and topics on JD Supra.

Create your news brief now - it's free and easy »