Mexico has increased February electricity prices for industrial users, reflecting an increase in fuel prices, Kallanish Energy‘ssister publication, Kallanish, learns from Mexico’s Federal Electricity Commission (CFE).
The sector will see energy costs going up on average between 6.4% and 8.4%. The increase follows a trend seen during the last seven months and is expected to affect energy-intensive users, such as steelmakers utilizing electric-arc-furnaces.
According to CFE, the new adjustment is due to higher fuel prices in January, when natural gas prices were 55.3% higher than in the same month in 2016. However, gas still remains nearly 40% cheaper than other energy sources such as fuel oil or thermal coal.