Mexican Ministry of Economy meet with Canadian companies in light of energy disputes

• Mexican Ministry of Economy Raquel Buenrostro met with Canadian businesses.
• The drive by Mexico to give priority to state-run energy businesses.
• A “template” for solving each of the companies’ issues with Mexico’s energy industry was revealed last week.

According to the Mexican Ministry of Economy, Raquel Buenrostro met with Canadian companies to follow up on energy agreements struck during a meeting with President Andres Manuel Lopez Obrador.

The Canadian businesses that met with Mexican authorities on Monday included Northland Power (NPI.TO), Canadian Solar (CSIQ.O), and pension fund La Caisse de depot et placement du Quebec (CDPQ), according to Mexico’s economic ministry.

According to the ministry’s tweet, Buenrostro will meet with the businesses once more the following month to go over the status of the agreements.

An official with knowledge of the situation said that Lopez Obrador met with the three businesses and ATCO (ACOx.TO) last week to address their issues with Mexico’s electricity sector after pledging to do so during discussions with Canadian Prime Minister Justin Trudeau earlier in January.

At the time of the meeting, ATCO and Pattern Energy had no open concerns to discuss, according to the economic minister of Mexico.

A “template” for solving each of the companies’ issues with Mexico’s energy industry, a Mexican official told the media last week.

The drive by Mexico to give priority to state-run energy businesses under a regional trade agreement was met with the start of dispute resolution proceedings by the United States and Canada last year.

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