Mexico’s state power company Comisión Federal de Electricidad (CFE) credited lower natural gas prices as contributing to the company’s best full-year profits in a decade last year. CFE is the country’s largest power generator and distributor, the primary importer and marketer of natural gas, and monopoly owner of the electricity transmission grid. The company reported…
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Surge in Data Center Use Lifts Domestic Utilities’ Natural Gas Projects, Spending
Utilities in the Southwest have seen business, population and technology underpinning investments in natural gas-fired generation and infrastructure, and in Texas, new legislation may be supporting plans for a build-out. NGI reviewed recent quarterly and year-end results of electric and gas utilities, in which executives pointed to growth in the customer base, as well as…
U.S. Utilities, Industrials Seen Offsetting Gas-Fired Electric Generation Retirements
Natural gas-fired generation is forecast for roughly a 100 MW net increase this year as overall electric power plant retirements decrease to 5.2 GW, the lowest level in more than a decade, according to the U.S. Energy Information Administration (EIA). While gas-fired capacity is slated to make up the largest share (46%) of electric generation…
Mexico Nearshoring Boom to Require Massive Energy Investment, Experts Say
Mexico will need to attract more than $41 billion in investment to generate an estimated 37 GW of additional electricity capacity required to meet the increased energy demand anticipated by nearshoring, Abraham Zamora, president of the Mexican Energy Association (AME), said during a recent presentation in Monterrey. Nearshoring, or the relocation of manufacturing and supply…
EQT Not Ready to Curb Production Further as it Positions for Natural Gas Rebound
Despite crashing prices, executives at EQT Corp. said the U.S. natural gas market is not as oversupplied as most think, suggesting the stage is being set for a rebound. Henry Hub has traded below $2/MMBtu for seven straight sessions. The contract hasn’t been this low since June 2020 during the Covid-19 pandemic. NGI’s Weekly Spot…
Presidential Hopeful Gálvez Calls for Level Playing Field in Mexico’s Energy Sector
Mexican presidential candidate Xóchitl Gálvez on Monday applauded a recent Supreme Court ruling that invalidated one of President Andrés Manuel López Obrador’s most controversial energy policies. Mexico’s high court deemed unconstitutional a set of modifications to Mexico’s electricity industry law (LIE) that sought to prioritize the dispatch of electricity from power plants owned by state…
Mexico Supreme Court Decision Protects Structure and Health of Energy Sector — Column
Editor’s Note: NGI’s Mexico Gas Price Index, a leader tracking Mexico natural gas market reform, is offering the following column by Eduardo Prud’homme as part of a regular series on understanding this process. On the last day of January, Mexico’s Supreme Court delivered a verdict that could potentially end President Andrés Manuel López Obrador’s efforts…
Mexico Energy Projects Powering Ahead in AMLO’s Final Months
Mexico’s Comisión Federal de Electricidad (CFE) is currently overseeing a portfolio of 60 electricity transmission and distribution projects to boost interconnectedness and power supply across the country as it prepares for a boom in demand as a result of nearshoring, according to Ricardo Octavio Mota Palomino, general director of power grid operator CENACE. “The CFE…
LS Power Adding 810 MW of Natural Gas-Fired Capacity in Pennsylvania
Energy infrastructure developer LS Power has agreed to buy an 810 MW combined-cycle natural gas facility from an affiliate of Platinum Equity to support the region’s grid stability. The transaction, financial terms for which were not disclosed, is for the Hunterstown Combined Cycle Generating Station in Gettysburg. Hunterstown serves the PJM Interconnection electric grid market,…
Mexico’s Presidential Frontrunner Sheinbaum Seeks 50% Renewable Generation By 2030
If elected, Mexican presidential candidate Claudia Sheinbaum would seek to increase the country’s renewable electricity generation to as much as 50% of the national grid by the conclusion of her term in 2030, industry members familiar with the plans told NGI’s Mexico GPI. The ambitious goal for renewable energy generation would represent a dramatic shift…