CFE’s Surging Debt Exposed: Record Interest Costs, Supplier Backlogs, and Pemex Parallels
CFE’s Climbing Supplier Debt Puts Pressure on Operations CFE’s debts to contractors and suppliers have climbed to multi-year highs, raising concerns about cash flow in Mexico’s electricity sector. According to CFE’s third-quarter 2025 financial report, accounts payable to suppliers reached ~77.3 billion pesos (circa $4+ billion) eluniversal.com.mx. This represents a 3.8–4% increase over the same period last year cronica.com.mx eluniversal.com.mx. In fact, the July–Sept 2025 figure is the second-highest Q3 level since 2018 cronica.com.mx, indicating that payment backlogs – while not unprecedented – are near record levels. These obligations are all short-term (due within a year) cronica.com.mx, meaning CFE will need to
