Insight
Mexico’s Capacity Market settlement 2024: The aftermath of stagnation
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Report summary
The 2024 Mexico's capacity market annual settlement closed at 2.0x, hitting the market cap and continuing a three-year trend of sharp increases. This rise was driven by extreme weather conditions that struck the demand and stagnation in the electrical sector to bring new firm capacity to the system. The year was marked as the hottest and driest on record, From April to June, the 100 critical hours occurred, and the monthly peak demand surged by an average of 12.6%. Furthermore, 2024 saw no significant new capacity additions to the system, while hydroelectric generation slightly rose from 5.9% to 6.8% in 2024. This insight delves into the factors influencing Mexico's Capacity Market and its results.
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