A year/year plunge in natural gas prices buoyed second-quarter earnings for Mexico’s state power company Comisión Federal de Electricidad (CFE), according to management.

CFE operates about 34 GW of natural gas-fired power plants, and is Mexico’s primary importer and marketer of natural gas via pipeline from the United States. Mexico’s imports of U.S. gas have averaged 6.05 Bcf/d year-to-date, up by 155 MMcf/d versus the same period last year, according to Wood Mackenzie data.

In its quarterly earnings statement, CFE said the lower gas prices reduced operating costs at its power plants across Mexico. 

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