Mexico sets electrification goal

Wednesday, November 30, 2016

Mexico wants 99.8% of the population to have access to electricity by 2021, up from 98.5% currently.

To help achieve this goal, Sener has created a universal electricity service fund known as FSUE, designed to bring electricity to communities that together are home to about 2mn people, the energy ministry (Sener) said in a statement.

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The fund is the "social face" of the country's energy reform, energy minister Pedro Joaquín Coldwell said.

The fund will receive contributions from participants in the wholesale electric power market and donations from third parties and "other sources."

The finance ministry (SHCP), the social development ministry (Sedesol), the public works and services bank (Banobras) and the national energy control center (Cenace) will also participate in the FSUE.

Federal power utility CFE said earlier this month it now has 40.5mn customers, compared with 20mn in 2002, and that some 95,000 new clients are signing up each month.

The FSUE will be a financial vehicle for carrying out electrification works in communities that are still off-grid, which will require a 12bn-peso (US$584mn) investment, Coldwell said.