U.S. Energy Secretary Jennifer Granholm on Friday flagged concerns about Mexico's plan to tighten state control of the electricity market, saying it could impede investment and economic development in North America.
Granholm met President Andres Manuel Lopez Obrador and senior members of his Cabinet, including Energy Minister Rocio Nahle, on Thursday and Friday on a visit to Mexico City in which the Mexican power market initiative drew close scrutiny.
"In each meeting, we expressly conveyed the Biden-Harris administration's real concerns with the potential negative impact of Mexico's proposed energy reforms on U.S. private investment in Mexico," Granholm said in a statement."The proposed reform could also hinder U.S.-Mexico joint efforts on clean energy and climate.
Granholm said competitive energy markets that benefit North America should be upheld, and that she had been assured Mexico is committed to supporting clean energy and working out current disputes with projects within the rule of law. Officials, lawmakers and business leaders say in private they believe Lopez Obrador's power market initiative will be watered down, but it is unclear by how much or whether it will be enough to restore bruised investor confidence.
Earlier, Lopez Obrador said his government would address future energy disputes with companies "case by case" as he took questions on the meetings with Granholm.
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