David Penchyna, chairman of the Mexican Senate Energy Commission, has confirmed the Congress of the Union has approved the long-awaited energy reform bill – bringing it one step closer to becoming law.

The bill is now being voted through the country’s regional legislatures on the final leg of its journey.

According to SDP Noticias, the reform process is expected to attract more investment in power generation, which is seen as essential for the country’s continued economic growth.

BNamericas summarizes the reform by saying it will bring to an end the monopoly of the government in the electricity sector.

The national energy control centre, Cenace, currently a department of the CFE, will become an independent state-owned body tasked with administering an open generation market, functioning like most independent system operators around the world, says BNamerica.

The bill will also see the transformation of state-owned power company CFE into a “productive public company”, says BNamericas.

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