Mexico’s Energy Revolution Series: A Liberalized Electricity Sector - April 2015

Manatt, Phelps & Phillips, LLP
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In This Issue:

- Introduction

- A Revamped Institutional Architecture

- New Makeup of the Electricity Supply Chain

.. Generation

.. T&D Network

.. Retailing

- A note of Renewables

- Investment Opportunities

.. Natural Gas

.. Geothermal

.. Wind

.. Solar

- Conclusion

- Excerpt from Introduction:

The scope of Mexico’s 2013–14 energy reform is unprecedented. It touches legal, financial and operational aspects of upstream, midstream and downstream activities for the oil and gas sector. Likewise it significantly overhauls the institutional scaffolding surrounding the operation and regulation of electricity generation, distribution, transmission and retail. As a result, the Mexican energy industry will move from being vertically integrated, commanded through state entities and rather closed to foreign investment, to being governed by principles of competition, where foreign capital will be not only welcomed but encouraged—even if the state, and the state-owned enterprises, continue to play a leading role.

The reform is the culmination of a long and complex legislative process to dramatically modify the policy framework in which the country’s state-owned energy sector has operated for decades. The process began in 2013 with the presentation, discussion and eventual passage of a constitutional amendment to lift most of the restrictions on private investment as well as introduce new institutions and legal definitions to create an improved regulatory and operational framework for the sector. The amendment was signed into law on Dec. 20, 2013. Subsequently came the implementing (secondary) legislation, a massive set of legislative changes to 21 laws (nine of them new), spelling out the details of the institutional overhaul. These legislative packages were signed into law by President Enrique Peña Nieto on Aug. 11, 2014.

Please see full publication below for more information.

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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.

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