CFE Registers 85 Billion Pesos in Losses in 2021
By THE PULSE NEWS MEXICO STAFF
Mexico’s Federal Electricity Commission (CFE) recorded a net loss in 2021 of 95,371 billion pesos, 10.9 percent higher than the losses in incurred in 2020, when it was 85,996 billion pesos in the red.
According to the financial report delivered by the CFE to the Mexican Stock Exchange (BMV) corresponding to the fourth quarter of 2021, the company suffered financially from the effects of the covid-19 pandemic and the polar vortex of February of 2021 that raised the price of natural gas that is purchased from Texas.
The total annual income of the state-run power company was 565.687 billion pesos, 12.4 percent higher than the 502.858 billion pesos registered in 2020. This increase was derived from an increase in the sale of fuels to third parties, as well as a supply of electricity and service of energy transport.
“The effects of the country’s economic recovery have increased sales of electricity in the industrial, domestic and commercial sectors,” said the CFE report.