Mexico’s electricity reform advances

Mexico’s Senate overwhelmingly gave final approval Sunday to legislation meant to increase competition in the country’s electricity sector.

The Senate voted 88-26 to approve the law, which aims to lower prices by expanding private investment in electricity generation, Reuters reported.

Lawmakers had given it preliminary approval Saturday, and it still must pass the lower house and be signed by the president.

The bill is part of a set of measures backed by President Enrique Pena Nieto to overhaul the country’s energy industry.

Last year, the country moved to end the government-run Pemex’s monopoly on oil and gas exploration and production, Reuters said. The Senate has started debate on two other energy reform bill as well.