Mexico City - The Federal Electricity Commission (CFE) lost 8,707 million pesos in the second quarter of the year, which contrasts with the profits of 23,463 million pesos it achieved in the same period of 2021.
The losses are attributed to the increase in fuel prices, according to the state-owned company in its quarterly financial report delivered to theMexican Stock Exchange (BMV).
One of the main consequences of the war conflict between Russia and Ukraine has been the increase in fuel prices. The fact that Russia is one of the largest producers of crude oil, gas and coal in the world has had a significant impact on the increase in the price of diesel, fuel oil, coal and natural gas, a situation that affects various industries, especially the electricity industry.
Currently, the prices at which gas is purchased range between 7 and 10 dollars per gigajoule, while at the beginning of 2021 it was purchased at up to 2.5 dollars per gigajoule", stated the CFE.
Regarding income, the Commission had an increase of 22.6%, going from 129 thousand 413 million pesos in the second quarter of 2021, to 158 thousand 770 million pesos in the same period of this year.