CFE posted a net loss of 78,920 million pesos in 2020

The company reports that in 2020, the Federal Commission of Electricity (CFE) recorded a net loss of 78.92 billion pesos due to, among other things, the devaluation of the peso against the dollar.

“As a result of the economic impacts of the SARS-CoV-2 epidemic and the decline in global oil prices during 2020, a decrease of 5.9 percent of the peso against the dollar was observed, from 18.84 to 19.95 pesos per dollar from December. He explained in his report for the fourth quarter of 2020, that from September 31, 2019 to the same date in 2020.

He explained that the level of depreciation of the Mexican peso, and the fact that the CFE has a commitment position in foreign currency, caused a loss due to fluctuations in exchange rates by 31,770 million pesos, which affected the overall financing result, which he went to. To 90,315 million pesos in 2020, compared to 27,965 million pesos in 2019.

The European Central Bank said, “The effect of assessing exchange rate volatility on the overall financing outcome reflects operating profits and leads to a net loss of 78.920 million pesos.”

Total CFE liabilities increased by 8 percent as a result of a revaluation of the contracted rental and debt liability in dollars, due to the depreciation of the peso against the dollar.

Rental liabilities increased by 40,831 million pesos, equivalent to 7.2 percent, while debt increased by 10 thousand and 119 million pesos, a figure higher by 2.9 percent than in 2019.

At the end of the fourth quarter of 2020, the corporation maintained an operating profit of 19,000 439 million pesos.

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