Assessment and recommendations

The current government led by President Enrique Peña Nieto has undertaken a significant modernisation of the Mexican regulatory framework, including in the energy sector. Launched in 2013, the reform restructured the oil and gas industry and opened access to the country’s hydrocarbon resources to national and foreign, public and private entities, thus ending the monopoly of the state-owned oil company Petróleos Mexicanos (PEMEX), in order not only to increase investment and government revenue for the benefit of all Mexicans but also to lead on environmental issues by embedding clean energy targets in legislation. Equally important, the national energy system was further opened up to private competition in order to reduce electricity costs, facilitate the transition to renewable sources of energy and extend electricity coverage.