Mexican antitrust watchdog urges Congress to reject power market reform

Mexico's antitrust authority on Monday urged lawmakers to reject a bill recently sent to Congress by President Andres Manuel Lopez Obrador that aims to strengthen the position of the national power utility in the electricity market.

The Federal Economic Competition Commission (COFECE) said in a statement that Lopez Obrador's proposal would "seriously damage" the conditions of competition for generation and commercialization of electricity in Mexico.