July 20, 2014 / 3:40 PM / 6 years ago

Mexico Senate gives final approval to electricity bill

MEXICO CITY, July 20 (Reuters) - Mexico’s Senate gave final approval early on Sunday to a bill that aims to boost competition and lower prices in the electricity sector, part of President Enrique Pena Nieto’s landmark energy overhaul approved by Congress last year.

The Senate voted 88-26 to approve the fine print of the law, which would expand private sector investment in electricity generation, after lawmakers gave the legislation preliminary approval on Saturday.

The bill, which is part of a set of laws fleshing out a historic overhaul of the state-run energy sector, will have to pass to the lower house for approval before being signed into law by the president.

Last year’s reform ended the exploration and production monopoly held for decades by state-run oil and gas company Pemex , as well as the monopoly held by national electric utility CFE.

Senators are set to vote on two more energy packages, and will resume debate later on Sunday. (Reporting by Alexandra Alper; Editing by Sonya Hepinstall)

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