Mexico’s electricity reform advances

Mexico’s Senate overwhelmingly gave final approval Sunday to legislation meant to increase competition in the country’s electricity sector.

The Senate voted 88-26 to approve the law, which aims to lower prices by expanding private investment in electricity generation, Reuters reported.

{mosads}Lawmakers had given it preliminary approval Saturday, and it still must pass the lower house and be signed by the president.

The bill is part of a set of measures backed by President Enrique Pena Nieto to overhaul the country’s energy industry.

Last year, the country moved to end the government-run Pemex’s monopoly on oil and gas exploration and production, Reuters said. The Senate has started debate on two other energy reform bill as well.