Latin America
With a power score of 1.61, Mexico ranks number 84 among Emerging Markets and number 16 in the Latin America region
Power score
1.61/5
Score over time
2021 - 2024
Mexico has a power score of 1.61, which puts it at rank 84 in the Emerging Markets power ranking. In comparison to 2023, Mexico has dropped in the power rankings by 13 places, from rank 71, to rank 84.
At 1.61, the power score of Mexico is worse than than the regional average of 1.93 in the Latin America region and puts it at rank 16 in the region.
Mexico implements policies in 5/9 power policy categories tracked by Climatescope, including Renewable energy target, Net metering, Import tax incentives, Renewables mandate, and Renewable Energy Certificates.
The average electricity price in Mexico has increased from 119.52 USD/MWh in 2022 to 151.60 USD/MWh in 2023. Since 2017, the average electricity price in Mexico has fluctuated between 111.14 USD/MWh (2017) and 151.60 USD/MWh (2023).
The top amount of capacity installed in Mexico in 2023 was in Natural Gas at 47.72%, down from 48.89% in 2022. The technology with the biggest increase in capacity installed in 2023 was Utility-scale PV at 9.58%, up from 8.84% in 2022.
The top amount of electricity generated in Mexico in 2023 was in Natural Gas at 59.83%, up from 56.58% in 2022.
Investment in clean energy in Mexico was around $302.43 million in 2023, a decrease of 75.04% from 2022 ($1,211.51 million). Between 2018 and 2023, the highest investment in clean energy was in 2019 at $4,122.31 million, while the lowest was in 2023 with $302.43 million.
Which segments of the power sector are open to private participation?
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Are other PPAs (eg. corporate PPAs) signed in or indexed to U.S. Dollars or Euro?
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Can a C&I (Commercial and Industrial) customer sign a long-term contract (PPA) for clean energy?
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Does the government keep the wholesale price of electricity from fossil fuels artificially low through subsidies?
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Does the government significantly increase the wholesale price of electricity from fossil fuel through targeted taxes and/or carbon prices?
For more information on best practices and climate action, explore the NetZero Pathfinders project by BloombergNEF.