PUC to BEL: Not So Fast!

Yesterday, BEL announced that it had signed a new power purchase agreement with CFE, the Mexican power company. Well today the PUC said, not so fast.

The PUC issued a press release saying basically that despite what BEL says it has signed to, it's not official until the PUC has its say. The release says that BEL, "has not submitted any of the new power purchase agreements in their final form to the PUC and as such no final approval has been given by the PUC."

Today, in response, a BEL spokesperson would only say that they always submit their power purchase agreements to the PUC, and beyond that, there's nothing to comment on, which we take to mean, that, from BRL's perspective, the deal is sealed, despite what the PUC might say.