Saturday, August 30, 2025

Electricity commission loses 14 billion pesos in first quarter

The Federal Electricity Commission (CFE) incurred a net loss of almost 14 billion pesos in the first quarter of 2019, the utility said in a report to the Mexican Stock Exchange (BMV).

The state-owned company’s income increased 28% in the three-month period to 119.45 billion pesos from 93.11 billion pesos in the first quarter of 2018.

But operating costs increased by 11.1 billion pesos to 125.36 billion pesos, 5.91 billion pesos higher than revenue.

Higher input costs, increasing salary and pension expenses as well as maintenance of CFE power plants all contributed to the elevated operational outlay.

Other factors that contributed to the 13.94-billion-peso (US $710.5-million) loss were higher tax liabilities, electricity theft, technical problems and non-payment of bills.

The utility recorded a 543-million-peso profit in the first quarter of last year.

The CFE submitted its first-quarter report to the BMV more than a month late, attributing the delay to a software problem.

After it exceeded a 20-working day extension, the stock exchange suspended all transactions related to the company on Thursday but lifted the restrictions Friday after the report was submitted.

Source: Milenio (sp), El Financiero (sp), Dinero en Imagen (sp) 

Have something to say? Paid Subscribers get all access to make & read comments.
Preparations for Independence Day festivities in Mexico City's Zócalo are underway.

Mexico’s week in review: Trade talks with Brazil, tariffs on China and televised attacks

0
Highlights of the week of August 25 in Mexico included bilateral trade talks with Brazil, plans to raise tariffs on Chinese imports and political altercations caught on camera.
A cartoon shows two men with the words "Confidently wrong about San Miguel de Allende" and the Mexico News Daily logo

Do you have friends or family who are ‘Confidently Wrong’ about Mexico? A perspective from our CEO

7
Mexico News Daily CEO Travis Bembenek introduces "Confidently Wrong," a new podcast that clears up misinformation about Mexico.
News quiz

The MND News Quiz of the Week: August 30th

1
F1, fashion and flaming axolotls: Have you been keeping up with the headlines this week?
BETA Version - Powered by Perplexity