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Mexico goes after private companies, threatening decades of economic growth

MONTERREY, Mexico – For the past 20 years, a Spanish-owned 1,100 megawatt power plant Iberdrola SA outside Mexico’s industrial capital has kept the lights on for dozens of companies such as the brewing giant Heineken NV, despite winter frosts, a hurricane and occasional bushfires.

But since January, half of the gas-fired plant has been forcibly shut down by the Mexican government, which says private energy companies plundered Mexico like the ancient Spanish conquistadors. The power outage forced dozens of Monterrey businesses to turn to the inefficient and more expensive utility for their electricity.


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