Mexico Power Market Outlook to 2035 – Market Trends, Regulations and Competitive Landscape

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Mexico Power Market Report Overview

The annual power consumption in Mexico was 290.3 Terawatt hours (TWh) in 2022. It is expected to grow at a CAGR of more than 2% during 2022-2035. The growing government focus on the modernization of generation equipment, increasing the use of co-generation and combined cycle equipment, and installation of clean and efficient technologies will drive the power market growth in Mexico during the forecast period. It is also focusing more on power generation from natural gas and reducing generation from coal and oil. This will open opportunities for gas turbine and related equipment manufacturers and suppliers.

Mexico Power Market Outlook (2022-2035)

Mexico Power Market Outlook (2022-2035)
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The Mexico power market research report discusses the power market in the country in-depth and predicts future outcomes until 2035.  Detailed coverage of the regulations and policies governing the market is also provided in the report. The Mexico power market report highlights the cumulative installed capacity and power generation trends by individual generation source from 2010 to 2035 in the country’s power market. Furthermore, the report also provides company snapshots of a few of the major market participants.

 

Total Power Consumption (2022) 290.3TWh
CAGR (2022-2035) >2%
Historical Period 2010-2022
Forecast Period 2023-2035
Key Sector ·        Industrial Sector

·        Residential Sector

·        Commercial Sector

·        Transport Sector

Key Deal Types ·        Partnerships

·        Debt Offerings

·        Acquisition

·        Asset Transactions

·        Private Equity

·        Venture Financing

Key Companies ·        Comision Federal de Electricidad

·        Iberdrola SA

·        Global Infrastructure Partners

·        Petroleos Mexicanos

·        Naturgy Energy Group SA

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Mexico Power Market by Sectors

The industrial sector had the dominant share in power consumption in 2022

The key sectors in the Mexican power market are the residential sector, industrial sector, transport sector, commercial sector, and other sectors. In 2022, the industrial sector had the dominant share in power consumption, accounting for more than 61% in the Mexican power market. This was followed by the residential sector and the commercial sector.

Mexico Power Consumption Market Analysis by Sectors, 2022 (%)

Mexico Power Consumption Market Analysis by Sectors, 2022 (%)
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Mexico Power Market Segmentation by Deal Types

Most of the deals in the Mexico power market were partnerships in 2022

The key deal types recorded in the Mexico power market in 2022 were partnerships, debt offerings, acquisitions, asset transactions, and others. Based on deal type, Mexico’s power market was dominated by partnerships in 2022, followed by debt offerings and acquisitions.

Mexico Power Market Analysis by Deal Types, 2022 (%)

Mexico Power Market Analysis by Deal Types, 2022 (%)
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Mexico Power Market – Competitive Landscape

In 2022, Mexico’s power generation market was dominated by Comision Federal de Electricidad (CFE), the state-owned utility

The key companies in the Mexico power market include:

  • Comision Federal de Electricidad
  • Iberdrola SA
  • Global Infrastructure Partners
  • Petroleos Mexicanos
  • Naturgy Energy Group SA

 Iberdrola SA: Headquartered in Bilbao, Spain, Iberdrola SA (Iberdrola) constructs, operates, and manages power generation plants, transmission and distribution facilities and other assets. The company produces electricity using conventional and renewable energy sources. It also trades electricity and gas in wholesale markets, and retails electricity, gas, and other related products and services. Iberdrola retails energy to residential, commercial, industrial, institutional, and other customers. In its transition to a sustainable energy model, the company is making considerable investments in smart grids, renewable energy, large-scale energy storage, and digital transformation.

Mexico Power Generation Market Analysis by Companies, 2022 (%)


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Latest Developments

  • In March 2023, Iberdrola subsidiary ScottishPower, announced to install a pilot plant that will test a new electrolyzer technology that may reduce green hydrogen production costs. The pilot project is named, GreeNH3 and will use up to 20% less energy to produce same amount of hydrogen through a regular process. The company will be also testing the technology for large-scale ammonia production.
  • During the same time, Naturgy Energy Group SA acquired a 100 MW photovoltaic plant in Andujar from Magnon Green Energy. This acquisition would help the company to continue diversifying and creating value within the sector of renewable energy.

Segments Covered in the Report

Mexico Power Type Industry Outlook (Value, 2010-2035)

  • Residential Sector
  • Industrial Sector
  • Transport Sector
  • Other Sector
  • Commercial Sector

Mexico Power Market Deal Type Outlook (Value, 2010-2035)

  • Debt Offerings
  • Acquisition
  • Asset Transactions
  • Partnerships
  • Private Equity
  • Venture Financing

Scope

The report includes:

  • Snapshot of the country’s power sector across parameters – macroeconomics, supply security, generation infrastructure, transmission infrastructure, electricity imports and export scenario, degree of competition, regulatory scenario, and future potential of the power sector.
  • Statistics for installed capacity, generation, and consumption from 2010 to 2022, and forecast for the next 13 years to 2035.
  • Capacity, generation, and major power plants by technology.
  • Data on leading active and upcoming power plants.
  • Information on transmission and distribution infrastructure, electricity imports and exports,
  • Policy and regulatory framework governing the market.
  • Detailed analysis of top market participants, including market share analysis and SWOT analysis.

Reasons to Buy

  • Identify opportunities and plan strategies by having a strong understanding of the investment opportunities in the country’s power sector.
  • Identify key factors driving investment opportunities in the country’s power sector.
  • Facilitate decision-making based on strong historical and forecast data.
  • Develop strategies based on the latest regulatory events.
  • Position yourself to gain the maximum advantage of the industry’s growth potential.
  • Identify key partners and business development avenues.
  • Identify key strengths and weaknesses of important market participants.
  • Respond to your competitors’ business structure, strategy, and prospects.

Table of Contents

Table of Contents

1 Executive Summary

1.1 Mexico to fall short of its clean energy target.

1.2 Industrial sector dominates power consumption.

2 Introduction

2.1 Mexico Power Market

2.2 GlobalData Report Guidance

3 Mexico Power Market, Snapshot

3.1 Country Summary

3.2 Macroeconomic Factors

3.3 Supply Security

3.4 Opportunities

3.5 Challenges

4 Mexico Power Market, Market Analysis

4.1 Market Structure

4.2 Key Market Players

4.3 Financial Deals

Deal Value and Volume, 2010–2022

Deals by Type, 2022

4.4 Mexico Power Market, Demand Structure

Power Consumption by Sector, 2022

5 Mexico Power Market, Regulatory Scenario

5.1 Thermal and Hydropower Policy

5.2 Nuclear Power Policy

5.3 Renewable Energy Market, Overview

5.4 Policy Snapshot

5.5 Renewable Energy Targets

5.6 Electricity Industry Law

5.7 Clean Energy Certificates

5.8 Development Program of the National Electrical System 2020–2034

5.9 Auction Mechanism

Auction 1

Auction 2

Auction 3

Auction 4 (Cancelled)

5.10 Net-Metering/Net Billing

5.11 21st Century Power Partnership (21CPP)

5.12 Accelerated Depreciation

5.13 Wheeling Service Agreement for Electricity from Renewable Energy Sources

5.14 Income Tax Exemption

5.15 Resolution on Interconnection of large hydro plants

5.16 Geothermal Energy Act

5.17 Law for the Promotion and Development of Bioenergy

6 Mexico Power Market, Capacity and Generation

6.1 Cumulative Capacity Share by Technology, 2022

6.2 Total Power Capacity and Generation, 2010–2035

6.3 Thermal Power Capacity and Generation, 2010–2035

6.4 Hydropower Capacity and Generation, 2010–2035

6.5 Nuclear Power Capacity and Generation, 2030–2035

6.6 Renewable Power Capacity and Generation, 2010–2035

7 Mexico Power Market, Transmission and Distribution Overview

7.1 Transmission Network

7.2 Distribution Network

7.3 Electricity Import and Export

7.4 Grid Interconnection

7.5 Electricity Trading

8 Mexico Power Market, Major Generating Companies

8.1 Iberdrola SA

Company Overview

Business Description

SWOT Overview

8.2 Petroleos Mexicanos

Company Overview

Business Description

SWOT Overview

8.3 Naturgy Energy Group SA

Company Overview

Business Description

SWOT Overview

8.4 Global Infrastructure Partners

Company Overview

9 Appendix

9.1 Abbreviations

9.2 Market Definitions

Power

Renewable Power

Installed Capacity

Electricity Generation

Electricity Consumption

9.3 Methodology

Coverage

Secondary Research

Primary Research

Modelling and Forecasting

About GlobalData

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Table

List of Tables

Table 1: Power Market, Mexico, Macroeconomic Factors, 2010–2030

Table 2: Policy Snapshot, Mexico, 2022

Table 3: Auction 1, Winners, Mexico, March 2016

Table 4: Auction 2, Winners, Mexico, September 2016

Table 5: Auction 3, Winners, Mexico, November 2017

Table 6: Power Market, Mexico, Cumulative Capacity and Annual Generation, 2010–2035

Table 7: Power Market, Mexico, Cumulative Capacity and Annual Generation Share by Technology, 2010–2035

Table 8: Thermal Power Market, Mexico, Cumulative Capacity and Annual Generation, 2010–2035

Table 9: Thermal Power Market, Mexico, Major Plants, 2022

Table 10: Hydropower Market, Mexico, Cumulative Capacity and Annual Generation, 2010–2035

Table 11: Hydropower Market, Mexico, Major Plants, 2022

Table 12: Nuclear Power Market, Mexico, Cumulative Capacity and Annual Generation, 2010–2035

Table 13: Nuclear Power Market, Mexico, Major Plants, 2022

Table 14: Renewable Power Market, Mexico, Cumulative Capacity (GW), 2010–2035

Table 15: Renewable Power Market, Mexico, Annual Generation (TWh), 2010–2035

Table 16: Renewable Power Market, Mexico, Major Plants, 2022

Table 17: Power Market, Mexico, Transmission Line Length (Ckm) by Voltage Level, 2010–2027

Table 18: Power Market, Mexico, Distribution Line Length (Ckm) by Voltage Level, 2010–2027

Table 19: Power Market, Mexico, Annual Electricity Import and Export (TWh), 2000–2022

Table 20: Abbreviations

Figures

List of Figures

Figure 1: Power Market, Mexico, Capacity Share by Technology, 2010–2035

Figure 2: Power Market, Mexico, Power Consumption by Sector (%), 2022

Figure 3: Power Market, Mexico, Country Summary

Figure 4: Power Market, Mexico, Macroeconomic Factors, 2010–2030

Figure 5: Power Market, Mexico, Market Structure

Figure 6: Power Market, Mexico, Market Share of Generation Companies (%), 2022

Figure 7: Power Market, Mexico, Deal Value and Number of Deals, 2010–2022

Figure 8: Power Market, Mexico, Deals by Type (%), 2022

Figure 9: Power Market, Mexico, Annual Power Consumption, 2010–2035

Figure 10: Power Market, Mexico, Power Consumption by Sector (%), 2022

Figure 11: Power Market, Mexico, Cumulative Capacity Share by Technology (%), 2022

Figure 12: Power Market, Mexico, Cumulative Capacity and Annual Generation, 2010–2035

Figure 13: Power Market, Mexico, Capacity Share by Technology, 2010–2035

Figure 14: Power Market, Mexico, Annual Generation Share by Technology, 2010–2035

Figure 15: Thermal Power Market, Mexico, Cumulative Capacity and Annual Generation, 2010–2035

Figure 16: Hydropower Market, Mexico, Cumulative Capacity and Annual Generation, 2010–2035

Figure 17: Nuclear Power Market, Mexico, Cumulative Capacity and Annual Generation, 2010–2035

Figure 18: Renewable Power Market, Mexico, Cumulative Capacity, 2010–2035

Figure 19: Renewable Power Market, Mexico, Annual Generation, 2010–2035

Figure 20: Power Market, Mexico, Annual Electricity Import and Export, 2000–2022

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