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Droughts do not affect projects: CFE


CE Noticias Financieras  

 

    CDMX - The Federal Electricity Commission (CFE) denied on Monday that droughts in the country will affect its power generation plans with hydroelectric plants, as Moody's agency warned in a report.

    "The Mexican government's strategy is based on the optimization of the water resources that already exist in the dams, therefore, the coming droughts will not have an impact on this purpose," the CFE said in a statement.

    The state-owned company rejected the forecasts of the international rating agency, which last week predicted that the prospect of more frequent droughts puts at risk the Mexican government's plan to generate electricity with 14 CFE hydroelectric plants.

    The company also pointed out that it already anticipates the possible fluctuations of the dams, based on data from the National Water Commission (Conagua), although this agency declared last month at national level an "emergency due to severe, extreme or exceptional drought".

    The power company argued that it establishes emptying programs to provide security to the Mexican population and establish safe filling until the end of the rainy seasons, "so Moody's estimates are unsubstantiated".

    "Even with the annual variability of Mexico's large reservoirs, the way in which hydroelectric resources are managed makes it possible to establish generation schemes for several consecutive years," the CFE said in a statement.

    In Mexico, hydroelectric energy represents 15% of total electricity generation, according to data from the Energy Secretariat (Sener) of the Mexican Government.

    The state-owned power company stated that the same strategy of using reservoirs to produce "more energy with the same amount of water" is being carried out in the modernization of 14 hydroelectric plants, for which the Mexican government is earmarking an investment of more than one billion dollars.

    Since 2019, the energy policy of the Government of Andrés Manuel López Obrador benefits the dispatch of state-owned hydroelectric plants and relegates energy from private renewable sources.

    The CFE also argued that droughts are a phenomenon that "occurs regularly in the country" and that "CFE dams are at adequate storage levels according to the daily monitoring carried out by the CFE and Conagua".

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