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WORLD NEWS Friday 11 February 2022

Mexico vows to press on with power changes amid U.S. concerns

MEXICO CITY (AP) — Mexi- USMCA pact that prohibit "raised the significant con-
co's president vowed Thurs- countries from favoring do- cerns the Biden-Harris Ad-
day to press ahead with mestic companies over for- ministration has about Mex-
changes to the electrical eign competitors. ico's current energy-sector
power industry despite U.S. But he acknowledged proposal and the impera-
concerns that they could foreign companies have tive to bolster open and
close off markets, choke been complaining that the competitive economies,
off competition and possi- change in rules would af- consistent with USMCA."
bly violate the U.S.-Mexico- fect investor confidence in The changes would guar-
Canada free trade pact. Mexico. antee a majority market
After meeting with Presi- "They say the rule of law is share for Mexico's state-
dent Andrés Manuel López being violated, they want owned power plants that
Obrador on Wednesday, to expropriate the electri- often burn dirty fuel oil or
U.S. climate envoy John cal industry, there are no coal, while limiting private
Kerry expressed "significant guarantees for investors in wind, natural gas and solar
concerns" over Mexico's Mexico, we have no con- Mexican President Andres Manuel Lopez Obrador speaks dur- plants to a minority market
ing a ceremony to commemorate in Mexico City's main square
plan to favor its state- fidence," López Obrador the Zocalo, Aug. 13, 2021. share. Many U.S. compa-
owned electricity com- said, adding, "We are not Associated Press nies operating in Mexico
pany and limit private and going to get in a fight with either invested in cleaner
foreign firms that have in- the U.S. government." a two-thirds majority that In a statement, the U.S. Em- power plants themselves
vested in renewable power U.S. firms have complained López Obrador hasn't yet bassy said that in Wednes- or rely on cheaper energy
in Mexico. bitterly about the constitu- been able to pull together. day's meetings, Kerry produced by them.q
López Obrador said Thurs- tional changes proposed in
day the proposed changes October. They are still held
"don't affect the treaty at up in the Mexican Con-
all," despite provisions in the gress, where they need