The Mexican state electric Federal Electricity Commission (CFE) reported this Tuesday that during the first quarter of 2023 obtained a net profit of 32,114 million pesos (about 1,787 million dollars).
According to official information published in the Mexican stock exchange and issued in a statement by the CFEhe growth was 270% compared to the same period in 2022 when it reported a profit of 8,659 million pesos (about 481 million dollars).
The favorable results of CFE observed in the first quarter of 2023, show a broad resilience capacity to successfully overcome adverse conjuncture events, such as the SARS-CoV2 virus pandemic, as well as the disruptions observed in fuel prices during the last two years”,
the company noted.
In addition, “they demonstrate their potential and strategic position to materialize the opportunities offered by phenomena such as ‘nearshoring’, in a stabilizing environment prices of the energy inputs”.
The CFE reported that its total income in the first quarter of the year amounted to 148,767 million pesos (8,278 million dollars), which represents an increase of 7.1% compared to the same period of the previous year.
This result is due to a 13.5% increase in income from the energy saleequivalent to 12,898 million pesos (717 million dollars) derived from a greater demand for electricity, in line with the expansion of the mexican economyas well as a 49% growth in income from energy transportation (1,851 million pesos, about 103 million pesos)”,
he claimed.
While the total operating costs of the CFE in the first quarter of 2023 were 123,051 million pesos (6,847 million dollars), “which means a reduction of 6.1%, compared to the same period of the previous year.”
The foregoing is mainly due to the 9.6% decrease in energy and fuel costs in relation to the same quarter of 2022, due to the correction of natural gas prices.
pointed.
This effect “is due to the fact that speculation in fuel prices caused by the war conflict between Russia and Ukraine during 2022 has stabilized in the first months of 2023,” the financial report notes.
The CFE reported that it benefited from the 8.8% appreciation of the peso, which originated a profit from exchange fluctuation of 40,504 million pesos (2,253 million dollars) in the quarter, against 18,807 million pesos (about 1,046 million dollars). compared to the same period of 2022.
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