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Friday, April 19, 2024

The proposals on energy matters – El Financiero

The author is a leading partner lawyer in the transactional practice of Santamarina y Steta.

The campaigns have formally begun and both candidates are speaking out about the most relevant issues for the country.

The subject of the phenomenon known as nearshoring It begins to nourish the talks, conferences and presentations given by the candidates and, in the context of this issue, it is inevitable to put on the agenda the challenges that the next administration will inherit in energy matters.

For obvious reasons, one of the candidates’ campaigns reflects greater flexibility in dealing with the issue, rescuing concepts that involve leaving aside assertions of an ideological nature and turning again to science, privileging and placing the user (and not the state companies). ) in the center of the spectrum under the premise that, in any case, energy is a means and not an end in itself.

There is talk of the importance of rescuing the figure of dependent regulators with a specialized and technical vision beyond political visions (which by nature are short-term) without detriment to the stewardship of the State, but in the hands, it is insisted, of regulatory bodies. solid, independent and specialists in the matter, far from short-term electoral agendas.

The proposal involves a policy that requires respect for the rule of law and transparency and accountability as essential conditions, to achieve sufficient, clean and cheap energy.

Respect for the Constitution, international treaties and agreements and the user as a priority of the regulatory framework, competition, sustainability and respect for the citizen’s right to decide are identified as guiding principles of the new model.

There is also talk of a new concept, energy federalism, consisting of achieving close and effective coordination with the states, learning and applying lessons learned during this administration (in which the federal entities have necessarily tried to evolve in a centralized administrative environment and paralyzed).

In relation to the energy transition, the idea is to incorporate much more renewable energy into the network, accelerate electromobility, adopt new low-emission and high-efficiency technologies, reduce energy intensity, promote the promotion and use of biofuels and improve the operation of the productive companies of the State.

It is recognized that there is coincidence in the need to have strong State Productive Companies (Pemex and CFE), but also efficient in their operation, with a view to obtaining satisfactory results.

On the other hand, the proposal speaks of simplification, open competition and free competition, equity and inclusion in the sector. In this sense, there is talk of the design and granting of permits that allow the development of a modern energy industry, of reducing the regulatory burden by favoring more digital government, of awarding contracts through transparent competitions, of addressing energy poverty with social projects financed with public and private investment, to coordinate efforts with academia and the private sector for the adoption and accumulation of new technical capabilities and the gradual, but decisive and strategic substitution of generalized subsidies for targeted subsidies.

There is also talk of a profitable and sustainable hydrocarbon industry that strengthens the capabilities and improves the operational, financial and environmental results of Pemex, in accordance with international standards, which reduces emissions of harmful gases associated with the production of oil, natural gas. and its derivatives, that the reserves of greater value and lower environmental impact be restored, the performance of hydrocarbon refining is improved, the security of supply is strengthened through gas and oil storage projects, the coverage of gas pipelines is expanded throughout the national territory and sufficient natural gas infrastructure is built for the development of the south-southeast region.

In terms of electricity, clean, intelligent and accessible energy is proposed, strengthening the capabilities and improving the operational, financial and environmental results of CFE in accordance with international standards, reactivating the electricity market to achieve better rates and expand the clean energy generation base. , detonating generation, transmission, distribution and storage projects to meet the growth in demand and take advantage of the opportunities of the nearshoringand facilitating the expansion of distributed generation and solar roof coverage.

It is also necessary to reduce the cost of financing for Pemex, extending the maturity horizon and generating conditions for access to new sources of financing under criteria of sustainability and social responsibility, and to work on the reconversion of the company to a committed energy company. with decarbonization and sustainability, in line with what other oil companies on the planet have been doing.

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