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AMLO's Energy Reform Fails In Congress

MEXICO
  • Congress in Mexico began the formal debate concerning AMLO's benchmark electricity reforms on Sunday (which de facto reinstates a state monopoly over electricity), with several lawmakers speaking in a session that was expected to fall short of finding a two-thirds majority to pass the bill.
  • As largely expected, AMLO's bill failed to pass, with 275 voting in favour (AMLO needed 332) against 223 against.
  • With the reform failed, private energy outfits (particularly renewables) will gain some relief at the expense of AMLO's legislative agenda, which now switches to a similar bill targeting the nation's lithium sector. A new bill concerning this could be sent to Congress as soon as today.
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