Mexico president Andrés Manuel López Obrador said Monday he is considering amending the constitution to rein in the “neoliberal” 2013-2014 constitutional energy reform of his predecessor, Enrique Peña Nieto.

AMLO

During his daily morning press briefing, López Obrador said a possible counter-reform would reaffirm the state’s predominance in the energy sector, and put a stop to “constantly rising” fuel and electricity prices.

He also said he is proposing that power plants operated by state-owned Comisión Federal de Electricidad (CFE) receive priority in the dispatch order over private sector-owned plants, which he said are only seeking profit as opposed to benefitting the population.

The president dismissed concerns that this approach would scare investors away from...