Energy Secretary: Mexico Gas Hikes to End in 2015 Lillian Reyes - The News
go to original May 29, 2014

Mexico President Peña Nieto (L) and Secretary of Energy Joaquín Coldwell (Presidency of the Republic)

MEXICO CITY – Energy Secretary Pedro Joaquín Coldwell said that if the recent energy reform passes secondary legislation in Congress, it will increase competitiveness in gas markets and prices will cease to rise by 2015.

Appearing at the Banorte Strategy Forum, Coldwell said that the energy reform will allow prices to be established in monthly increments, without adjusting inflation rates until 2015.

“By 2020, gas markets will be completely liberalized, opening up the option of importation from all parts of the globe,” he said.

Joaquín Coldwell added that crude oil production in Mexico has fallen by 800,000 barrels a day in the last five years, and that gas production has fallen 30 percent since 1990, hiking up electricity costs for businesses and families alike.

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