Enrique Pena Nieto, Mexico’s president, has signed the long-awaited energy reform into law, saying that it marks a new era for state-owned entities, such as Comision Federal de Electricidad (CFE) and Pemex.

According to Pena Nieto, the energy reform initiative will ensure both CFE and Pemex become productive state entities, as well as lowering the price of energy, which will benefit Mexico’s families.

The energy reform package, which reorganises the sector and establishes a new model of development, has been one of the Mexico’s most hotly debated pieces of legislation in recent times.

According to BNamericas, the decrees, which create two new regulatory bodies,  the Center for Energy (Cener) and the National Gas Control Center (Cenegas),  is expected to be approved by the end of this month.

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