Mexico’s Energy Reforms Become Law
Brookings Institution. By: Diana Negroponte*
On August 11, 2014, President Peña Nieto signed into law the 21 component parts of a comprehensive energy reform. Eight months after introducing constitutional amendments to radically transform Mexico’s hydrocarbon and electricity sectors, private investors and Petróleos Mexicanos (PEMEX) can leave the starting gate.
Peña Nieto was among the first to make the dash, announcing that he would speed up the creation of a new power-grid and advance the date for declaring which fields would be available for bidding by private and foreign companies. In signing, he announced that "This is the moment to put the energy reform into action."
*Diana Negroponte is a member of the Mexico Institute's Advisory Council