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    Mexico's Senate approves bills expanding power of energy regulators

    Mexico's Senate gave its general approval on July 21 to legislation laying out expanded powers for energy regulators, according to Reuters.

    The senators still had to debate reservations to the regulatory legislation. Once the reservations have been voted on in the Senate, the focus will move to the lower house of Congress, which is already debating the secondary laws passed by the upper chamber.

    Reuters noted that the July 21 legislation provides the national hydrocarbons commission and the energy regulatory commission with budgetary and management autonomy, as well as new powers to supervise and sanction newly opened energy markets.

    Two other bills, which were passed on July 20, define the administration and new transparency measures for state-run oil company Pemex and national electricity utility CFE. Reuters says that this legislation gives Pemex more budgetary autonomy and a new tax structure, while gradually requiring both Pemex and CFE to operate as competitive firms.

     

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