Mexican lawmakers reject President López Obrador’s electricity reform proposal

So goes the discussion of the electricity reform in Mexico 4:07 (Reuters) – Mexican President Andrés Manuel López Obrador’s plan to increase state control of power generation was defeated in Congress on Sunday, when the parties of The opposition rallied behind the bill, which they said would harm investment and violate international obligations. The President’s party, the National Regeneration Movement (Morena), and its allies fell almost 60 votes short of the two-thirds majority needed in the 500-seat Chamber of Deputies (lower house) of Congress, mustering just 275 votes after a raucous session that lasted more than 12 hours. Supporters of the president demonstrated outside Congress. (Photo by Alfredo ESTRELLA / AFP) (Photo by ALFREDO ESTRELLA/AFP via Getty Images) Seeking to reverse previous constitutional reforms that liberalized the electricity market, the changes proposed by López Obrador would have allowed the plants of the state Federal Electricity Commission (CFE ) sold electricity before other electric companies. It would also have shifted energy regulation from independent agencies to state regulators. The controversial bill faced much criticism from business groups and the United States, Mexico’s main trading partner, as well as other allies who argued that it would violate the United States-Mexico-Canada Agreement, a regional trade agreement known as T-MEC or USMCA. López Obrador, who promoted the legislation as vital to his plans to “transform” Mexico, argued that the bill would have protected consumers and made the country more energy independent.