In recent years, Mexico’s energy sector has embarked on a journey marked by ambitious expansions, strategic missteps, and a confidence crisis that threatens the stability of the nation’s power supply. From implementing the pro-market energy reform in 2013 to the current administration’s emphasis on self-sufficiency and protecting state-owned companies, Mexico has aimed to transform its energy sector on a road that sometimes seems to go nowhere. 

The path to achieving fuzzy goals, like energy sovereignty and rescuing monopolies, looks riddled with challenges. The uncertain policy landscape filled with politics, public budget constraints, and a lack of substantial pipeline infrastructure investment in five years has created a tense environment that leaves the country’s energy future...