Mexican energy regulator cuts 200 workers
Mexico's energy regulatory commission (CRE) cut 200 of its approximately 400 employees, according to Mexico's business chamber (Coparmex) and other sources, the second major reduction in workforce in less than 18 months.
"This represents a hard hit to the energy market regulation in Mexico as well as a severe loss of talent at the service of consumers," Coparmex said today. "This is a bad message to investors in the sector."
CRE did not responded to a request for comment.
The cuts could further complicate permit issuance for fuel retailers as the entity is in charge of the storage, transport, distribution and commercialization of fuels and electric power. It could also give more power to the energy ministry (Sener) that could overtake some responsibility from the CRE.
Complaints for delays in permits and favoritism for state-owned Pemex and CFE in granting permits has grown in recent months. President Andres Manuel Lopez Obrador even favored a proposal from the senate majority leader to merge the entity with telecommunications and competitive regulators. But the proposal was later paused.
In March 2019 close to 60pc of CRE's staff was laid off after a 31pc cut of its budget.
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