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AP National Business

Mexico’s electricity sector rankled by doubt and legal chaos

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Published 10:08 AM

By MARÍA VERZA
Associated Press

MEXICO CITY (AP) — Mexico President Andrés Manuel López Obrador’s efforts to reshape the country’s electricity sector to favor the state-owned power company have spurred hundreds of lawsuits and sown a level of uncertainty that is costing jobs and private investment. Pireos Power installs solar panels for everything from homes to major commercial projects. Last year, it lost projects with two clients worth a combined $3 million because they were unsure where things were headed. The company cut its workforce from 90 to 35. The company signed a contract on another project that forced it to buy back 3,000 solar panels from a client if Mexico’s laws changed.

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