The state CFE closed last year again with negative numbers. The company recorded losses of 39,793 million pesos in 2022, thus adding a streak of three consecutive years without reporting profits.
During the last quarter of the year, the company reported profits of 10.925 million pesos, as part of a drop in natural gas prices – essential in its electricity production process. The result of the last quarter of 2022 prevented the state company from reporting even higher negative figures.
The company’s operations were marked in 2022 by an increase in the price of natural gas, which mainly derived from the pressures caused by the conflict between Russia and Ukraine, which fueled fears of a shortage of the molecule in Europe and a reorganization in the supply chains.