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Business

Federal Electricity Commission Announces Record Losses

The CFE reported its net losses were 93.9 billion pesos for 2015

CENTRAL DE CICLO COMBINADO AGUA PRIETA II
By The News Whatsapp Twitter Facebook Share
2 years ago

In 2015 the Federal Electricity Commission (CFE) reported its net losses were 93.9 billion pesos, a result which has doubled over the previous year, in which it lost 46.8 billion pesos.

The company said that last year’s comprehensive losses, including contributions to retirees, which was 118.5 billion pesos, was a sevenfold increase from 2014.

Revenues from energy sales were 306.8 billion pesos, eight percent less than in 2014.

It also presented negative sum of the amount given to retirees, an amount that tripled in 2015, going from 9.6 billion to 24.6 billion pesos.

The CFE indicated that because of the exchange rate it lost a net amount of 37.4 billion pesos, 63 percent more than it lost in 2014 when it was 22.8 billion pesos.

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