Word: mexlight
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Dates: during 1950-1959
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...rates had long discouraged utilities from expanding. When MexLight began in 1903, it put up dollars and expected dividends in the same coin. But it had to collect revenues in pesos, and the peso, worth about a dollar then, brings only 8? now. The government balked at letting utility rates rise as fast as the peso fell, thus profits sank lower and lower in dollars...
...Bank for Reconstruction and Development granted a $26 million loan to the Mexican Light & Power Co., Ltd., to help finance the company's expansion program through 1952. The bank noted that Mexico's growing population has made extra electrical power for industrialization a matter of top priority; Mexlight generates about 45% of Mexico's power...
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