As a result of the recent approval and publication of the Energy Reform on December 20, 2013, it is currently expected that there will have to be an amendment to approximately 26 laws so as to put into practice the three articles of the Constitution and 21 transitional articles of the Reform.
It is anticipated that the secondary law package will be submitted to Mexico's federal Congress during the month of March 2014 and will have approximately eight new statutes and 18 other statutes to be amended and adjusted.
The secondary law must be approved within the 120 days following the publication of the Energy Reform, that is, calculated from December 20, 2013, along with the appointment of two additional commissioners for the National Hydrocarbon Commission and two commissioners for the Regulatory Energy Commission to strengthen these agencies.
Altogether, the following "new statutes" are expected to be issued:
- Hydrocarbon Act, implementing Articles 27 and 28 of Mexico's Federal Constitution.
- Federal Electricity Commission Act.
- National Hydrocarbon Commission Act.
- Hydrocarbon Income Act.
- Energy Regulatory Commission Act.
- Geothermal Energy Act.
- Pemex Act.
- Electricity Power Industry Act.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.