The six-year term of Manuel Bartlett in front of the Federal Electricity Commission (CFE) ended with red numberssince the electric company registered a net loss of 85 thousand 788 million pesos between January and September 2024, which represented its greatest deterioration for a similar period since 2021, according to data from its financial report delivered to the Mexican Stock Exchange (BMV).
The CFE argued in a statement that these results do not mean a deterioration in the company’s financial capacity, since they were mainly attributed to the volatility of the exchange rate, since during the period there was a peso depreciation with respect to the dollar 10.7 percent.
The six-year count showed that the CFE only managed to close with profits in 2019 and 2023years in which it reported profits of 25.7 and 116.5 billion pesos, respectively.
However, it lost 86 billion pesos in 2020, 106.3 billion in 2021 and 15.7 billion during 2022.
In a disaggregated manner, it could be observed that the CFE’s income amounted to 502,738 million pesos at the end of the third quarter of the year, which meant an annual increase of 1.4 percent.
“This increase was caused by a greater number of users and the increase in prices derived from the inflation”, noted the company.
Meanwhile, the company’s operating costs stood at 380,478 million pesos, which represented a reduction of 6.5 percent annually.
“This effect is mainly due to the decrease in average fuel prices over the course of the last two years,” the CFE pointed out.
He company equity as of the third quarter of 2024 was from 722 thousand 258 million pesoswhich represented a decrease of 4.8 percent compared to the same period in 2023, mainly due to the increase in the company’s liabilities of 32.5 percent at an annual rate.
