Mexico's energy sector is facing important challenges as it struggles to meet the needs of the country"s rapidly growing economy. The Peña Nieto administration, like the Calderón administration, is well aware that the sector must modernize in order to meet the country"s future energy needs. The national oil company, Pemex, lacks the equipment, know-how and resources to explore new reserves and extract shale gas. The national electricity company, CFE, also needs higher levels of investment if it is to keep up with Mexico"s development in the 21st century. Although the political complexity of reforming the energy sector resulted in a watered-down bill in 2008, the new reform proposed in 2013 could be a game changer. It would allow private companies to bid for profit-sharing contracts in the entire energy chain in both oil and electricity. This would boost the Mexican economy with a substantial increase in foreign direct investment, and could even result in an additional 1.5% of annual GDP growth. Eduardo Pérez Motta, who recently stepped down from his position as president of the Mexican Federal Competition Commission, will shed light on the significance and feasibility of current energy reforms in Mexico.