Mexico's CFE announces new board of directors

Mexico's state power utility CFE has a new board of directors, part of the country's energy reforms which will define the firm and its affiliates' strategies in the transition toward a wholesale electricity market, according to Business News Americas.

Energy minister Pedro Joaquín Coldwell is chairman of the board, which consists of 10 members including the ministers of economy, Ildefonso Guajardo, of finance, Luis Videgaray and of the environment and natural resources, Juan José Guerra.

The board members were nominated by President Enrique Peña Nieto and approved by the senate and include four independent members, which are not part of the government but members of the country' scientific and academic community.

One of the independent board members is the 1995 winner of the Nobel prize for chemistry, Mario Molina, who was part of the team that discovered the causes of the depletion of the ozone layer.

The board also comprises the energy ministry's undersecretary for electricity, César Emiliano Hernández and the secretary general of CFE's union, Victor Fuentes.

During the presentation of the board, Coldwell said CFE's new budgetary, technical and management autonomy will allow it to generate maximum value and revenues with social and environmental responsibility.

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