September 27, 2016 2:01 AM ET

Electric Utilities

Company Overview of Comisión Federal de Electricidad

Company Overview

Comisión Federal de Electricidad generates, transforms, transmits, distributes, supplies, and markets electric energy for household and industrial customers in Mexico. The company generates electricity through thermoelectric, hydroelectric, coal-fired, geothermal, wind, and nuclear sources. It also operates generating plants; and power lines that transmits and distributes electric power. The company generates electricity through an installed capacity of 52,854 megawatts. In addition, it provides technical, engineering, calibration and metrology, and specialized training services, as well as lab, electrical, mechanical, chemical, field, and non-destructive testing services. Further, the compa...

Reforma 164

Col. Juárez

Mexico City, DF 06600

Mexico

Key Executives for Comisión Federal de Electricidad

Chief Executive Officer
Age: 44
Accounting Manager
Deputy Director of Financial Control
General Director
Compensation as of Fiscal Year 2016.

Comisión Federal de Electricidad Key Developments

CFE Announces Executive Changes

CFE has appointed five new senior executives after obtaining the approval of the company's board, which is headed by energy minister Pedro Joaquín Coldwell. Francisco de la Parra Díaz de León was named director of operations, Jorge Araujo Balderas director of financed investment projects and Jorge Mendoza Sánchez finance director. Eduardo Arriola Jiménez was named deputy director of generation, and Elías Pérez Díaz deputy director of financial operations. Operations director De la Parra was previously deputy director of electricity generation and has worked at the CFE for 24 years. Finance director Mendoza Sánchez had previously worked at the finance ministry (SHCP). All appointments are effective immediately.

CFE Reports Earnings Results for the First Half of 2016

CFE reported earnings results for the first half of 2016. The company posted a MXN 107 billion (USD 5.6 billion) net profit, in sharp contrast to the MXN 35.6 billion loss it reported during the same period last year. The result was mainly due to a renegotiation of a work contract with its trade union (SUTERM) and workers, which concluded in May, reducing the company's liabilities by around MXN 160 billion which is reflected in its healthy bottom line. The firm's labor liabilities could therefore eventually shrink by around MXN 320 billion, more than 50% of the total. The company revenue was MXN 154 billion, compared with MXN 148 billion in first half of 2015.

CFE Opens Solar Plant, Advances Baja Peninsula Electrification

CFE has opened a 342kWh capacity, 468-panel solar plant in Muleg, in Baja California Sur state, the first of 40 such plants designed to bring electrification to areas on the peninsula that have remained off-grid until now. The Muleg plant will supply electricity to local households, schools and a hospital in the village of Luis Echeverría, for which new distribution infrastructure has been put in place. The village relies on gas for refrigeration and has to ship in ice from neighboring towns, while clothes are ironed by heating an iron in an open fire. The town has no mobile telephone signal and the only telephone connection will depend on electricity supplied by the new solar plant and the only WiFi installation will be the one used to monitor the plant, it added. The Baja California peninsula has a separate grid to the rest of Mexico. The project to bring electrification to the peninsula's off-grid areas is being coordinated by the energy ministry (Sener) with support from the World Bank, and similar plants will be built in other areas of Baja California Sur to supply residents with electric power. The new solar plant has a 48-hour backup battery, allowing it to supply electricity to the community even when there is no sunlight. During the inauguration of the plant, residents were asked to use no more than two domestic appliances at any one time, and to make rational use of the electricity.

Recent Private Companies Transactions

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No transactions available in the past 12 months.
 

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