Mexican electricity rates to rise in November 2016

The Comisión Federal de Electricidad (CFE) announced electricity prices would be hiked starting on 1 November 2016. As reported in Milenio on 30 October, rates for electricity usage in the industrial sector will jump by 5.6 to 7.2 percent compared to October 2016. Business will need to pay between 3.3 and 5.0 percent more for electricity compared to the previous month, while the high-usage household rate will jump by 3.3 percent. The state-run CFE justified the price increases by noting the increased costs for fuels used to help run Mexico’s electrical network. The price hike comes days after the CFE reported a net profit of around US$5.27 billion for the first nine months of 2016 (El Informador, 28 October).