CFE Posts Third-Quarter Operating Loss.

MEXICO CITY, Oct 29, 2001

Mexican state-owned power utility the Federal Electricity Commission (CFE) announced third-quarter net profits of 3.702 billion pesos, and operating losses of 1.117 billion pesos, reported Mexico City daily el Universal. The negative balance was owed to increases in energy prices, while the CFE's rates remained unchanged, reported Mexico City daily el Universal. Fixed net assets represented 88.8 percent of the CFE's total assets. Despite net profits, the company had negative operating profits because of rising energy costs, the company emphasized. The CFE said it would continue to announce its financial results in an effort to increase the organization's transparency.

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