The Mexican Senate has granted the state power generating utility, CFE, priority in power supplies and the ability to revise private contracts. That may lead to an early challenge by the U.S., which both supplies power and has private investors in Mexico, under the USMCA dispute mechanism. The move is part of a broader strategy of the Lopez-Obrador administration to build energy independence. Mexico’s imports of electricity dropped by 61.7% year over year in 2020 and slipped a further 49.6% lower in January. Uncertainty from the new rules may cut investment in Mexican power generating in...