Mexico’s Supreme Court has ruled constitutional a controversial energy law pushed by President Andrés Manuel López Obrador that gives government-owned power plants preference over private competitors.
He said the U.S. hopes “the legal framework that emerges will support the creation of a North American clean energy powerhouse, protect current and future U.S. business investments in Mexico in accordance with Mexico’s obligations under the United States-Mexico-Canada Agreement, and protect the integration of U.S.-Mexico supply chains for the prosperity of our region.”
Opponents of the law contend it will create a de facto state monopoly, hurt competition and force Mexicans to buy more expensive and polluting electricity. López Obrador maintains the goal of the law is to protect state companies against what he considers unfair competition from privately owned power plants.Many private companies sought relief in the courts when the law took effect so they could continue operating.
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