Electricity prices in Mexico could drop by 40% by 2024 because of growing renewable capacity, according to a study released Wednesday by the Mexican Business Coordination Council (CEE), the country's largest business group.
Greater renewable generation capacity could lead to average locational marginal prices in Mexico of $38/MWh in 2024 from $64/MWh in 2017, according to the study co-authored by the Mexican wind and solar energy associations, AMDEE and ASOLMEX.
Renewable generation can make Mexico a more competitive country, Leopoldo Rodriguez, director of AMDEE, said on Wednesday at a release event for the study.
"It is . . .
