Mexico gas, power and renewables: 3 things to watch in 2024

Unprecedented heatwaves shattered records, pushing peak electricity demand to new highs and straining the power grid. US-to-Mexico gas exports hit record levels in 2024, fueled by extreme weather-driven power demand and industrial growth supported by nearshoring. Key milestones solidified Mexico's role as an LNG supplier, including the commercial launch of NFE’s Fast LNG unit and a wave of new LNG project announcements. Swinging energy reforms reshaped Mexico’s regulatory landscape. The government reinstated state dominance over the power and oil industries, dissolving independent regulators like CRE and CNH. With CFE securing a constitutionally mandated 54% generation share, questions remain on how the new framework will be implemented in 2025. Join us as we break down the key events that defined Mexico’s energy markets in 2024.

In 2023, Mexico witnessed a momentous upswing in peak demand, marked by a substantial decline in hydro generation. Simultaneously, a promising resurgence in economic activity unfolded, amplifying the nation's energy demand to unprecedented heights. Join us as we unravel the highlights that shaped a pivotal year, offering insights into the evolving dynamics of Mexico's energy markets.