Blackstone to Export Texas Power to Newly Opened Mexican Market
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Blackstone Group LP has won permission to export all of the electricity from a power plant it owns in Texas, giving it a leg up in the race to reap benefits from Mexico’s newly opened market.
The U.S. Energy Department on Tuesday granted the private-equity firm’s request to sell the plant’s output into Mexico, where large customers pay almost twice as much as their Texas neighbors. While several others have permission to export, Blackstone has the ability to dedicate all of the power from the Frontera plant and has the only permit to import into Mexico’s new electricity market.