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LatAm   Energy Secretary Pedro Joaquin Coldwell:

Mexico to hold first medium-term power auction in February

Pedro Joaquin ColdwellMexico will hold its first medium-term electricity auction in February 2018, Energy Secretary Pedro Joaquin Coldwell said.

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Companies will be able to buy and sell contracts ranging from one to three years, which will protect them from the volatility of the short-term market, Coldwell said at a webcast event in Mexico City.

Related: Find more content about Mexico's commodity landscape in our news and analysis feature.

All generation technologies are allowed to participate in the auction, Coldwell said.

Any company operating in Mexico's wholesale electricity market can buy or sell electricity or capacity, which will increase competition in the industry, he said.

The medium-term electricity auction was a much-needed piece of the emerging new electricity market, Enrique Gimenez Sainz, Fisterra Energy Mexico's supply director, said at the event.

The auction is expected to provide depth and liquidity to the market while boosting electricity trading in Mexico, he added.

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