CFE has the First Energy and Infrastructure Investment Trust in Mexico.

"CFE is more than a public service company, that was born to bring electrical energy to the entire Mexican population."

Manuel Bartlett Diaz
General Director of the Federal Electricity Commission
October 13ᵀᴴ, 2023

The CFE participates throughout the entire electric energy chain, from fuel procurement, Generation, Transmission, Distribution and Marketing, among others, to provide electricity to more than 99% of the Mexican population.

The CFE is a Productive Company of the Mexican State, constituted in turn by ten Subsidiary Productive Companies, one of them is CFE Transmission, five Subsidiary Companies, being CFECapital one of them, and four Business Units.

Current Structure of the Federal Electricity Commission

Select a sector of the electrical energy supply chain.

CFE Holding

Generation

Nuclear Generation
(Laguna Verde)

Generation Companies
(CFE Genco I - VI)

Transmission

Transmission

CFE Transmission is a Subsidiary Productive Company of CFE, its main purpose is to carry out the necessary activities to provide the public electric energy transmission service, as well as carry out the financing, installation, maintenance, administration, physical operation, expansion and modernization of the related infrastructure, generating economic value and profitability for the Mexican State.

Distribution

Distribution

Commercialization

Basic Supply

Telecommunications and Internet for all

Others

Qualified Supply

Intermediation of Legacy Contracts
(CFE ICL)

Fuel National Trade
CFEnergía

Fuel International Trade
CFE International

Financial Services
CFECapital

LAPEM
Equipment and Materials Testing Laboratory

CFE Telecom

PAEME
Electrical Sector Energy Saving Program

Indicators:

Business Units
Subsidiaries
Business Units
Subsidiaries
Promoted Trust
Promoted Trust
Subsidiaries
Subsidiaries
Affiliates
Business Units

Activities for the transmission of electrical energy are carried out only by the Federal Electricity Commission, through CFE Transmission.

CFE Transmission is the owner of the National Transmission Grid (NTG) in Mexico.

CFE Transmission is solely responsible for carrying out the operation and maintenance of the RNT to provide the public electric energy transmission service.

CFE Transmission continuously carries out the expansion and modernization of the NTG infrastructure.

CFECapital

CFECapital is a Limited Liability Company with Variable Capital, legally constituted and existing in accordance with the laws of Mexico, established by the Federal Electricity Commission in order to manage all types of trusts and their assets, including the Trust Investment in Energy and Infrastructure.

The importance by CFECapital
as a subsidiary of the CFE

To be a benchmark of reliability, efficiency and profitability in the financing market of the electricity sector, attracting additional investment to the budget of the Federal Electricity Commission, in addition to promoting financing solutions to promote the modernization of the energy sector in Mexico and offer competitive profitability for investors in the CFE FIBRA E.

CFECapital is a Limited Liability Company with Variable Capital, legally created and existing in accordance with the laws of Mexico, established by the Federal Electricity Commission in order to carry out the administration of all types of trusts and their assets, including trusts investment in energy and infrastructure.

Our team

Carmen Serdán Banda

CEO

Carmen Serdán Banda has a Bachelor's Degree in Economics and Finance from Universidad Iberoamericana de Puebla, and a Master's Degree in International Finance from the Institute of Stock Market Studies in Madrid; graduated with distinction as the best student in the study program.

Likewise, she has specialized studies in Private Banking and Financial Advice from the Institute of Stock Market Studies of Madrid and in programs of excellence in the financial sector from the Chinese University of Hong Kong, Wharton School of the University of Pennsylvania and London School of Economics and Political Science. She has also successfully obtained the AMIB Figure 3 certification and she is a CFA candidate level II.

She has experience in the financial and energy sector. She has held key positions such as the Finance and Administration Director and the Operations Director at CFE International; subsidiary company of the Federal Electricity Commission (CFE) in the United States, which is frequently categorized within the first 10 companies in the Top North American Natural Gas Marketers ranking by Natural Gas Intelligence. Previously, she was Director of Investor Relations at CFECapital and she has held different positions in investment portfolio management and economic analysis.

Ernesto Lichtle Menéndez

CFO

Ernesto Lichtle Menéndez has a Bachelor's Degree in Economics and Finance from Universidad Iberoamericana de Puebla. He has a Master's Degree in Stock and Financial Markets and Portfolio Management Studies from the Institute of Stock Market Studies of Madrid. He also has studies in International Finance from the London School of Economics and Political Science.

He has more than 10 years of professional experience in the Financial and Stock Market Sector. In the affiliate company of CFE, CFEnergía he held different positions such as Deputy Director of Financial Institutions and Derivatives, Director of Finance and Administration, and Director of Fuel Commercialization.

He was Chief Financial Officer of CFECapital from February 2019 to May 2020.

Patricia E. Millán Arroyo

Director of Investor Relations

Ms. Patricia E. Millán Arroyo has a bachelor's degree in International Relations and a master's degree in North American Studies from the University of the Americas - Puebla, both of which she graduated with Magna Cum Laude.

Likewise, she has a Diploma in Marketing from the Autonomous Technological Institute of Mexico (ITAM), a Diploma in Trust Administration and Management from the Anáhuac University. She has taken various courses, including: Project Management by Sue Leather Associates, Induction to Investor Relations and Alternative Instruments: ETF's, FIBRAS, CKD's and CERPIS, both taught by the Mexican Stock Exchange.

She has 16 years of professional experience collaborating in both the public and private sectors, as well as international organizations. Her experience in administration and management of projects and programs in various sectors has allowed her to develop a broad perspective for the management and development of relationships with stakeholders. She has extensive experience in the organization and coordination of national, regional and international events.

Gilda Flores Buenfil

Legal Director

Gilda Flores Buenfil has a Bachelor's Degree in Law from the Technological University of Mexico, and a Master's Degree in Tax Law Studies from Universidad Panamericana; she is specialist in organization schemes, self-regulation and business management, aimed at legal and regulatory compliance from the same university, as well as a Master's Degree in Public Contracting from the Castilla – La Mancha University.


She has 21 years of professional experience, both in the Mexican Federal Public Service and in the private sphere. She has held as different positions such as Deputy Director of Fuel Commercialization for the affiliate company CFEnergía, SA de CV; as Director of Regulations and Consultation of the Executive Secretariat of the National Anti-Corruption System; as Quality Director of the Ministry of Economy and as legal advisor to the former Chief Officer of the same department.

Carmen Serdán Banda
CEO

Carmen Serdán Banda has a Bachelor's Degree in Economics and Finance from Universidad Iberoamericana de Puebla, and a Master's Degree in International Finance from the Institute of Stock Market Studies in Madrid; graduated with distinction as the best student in the study program.

Likewise, he has specialized studies in Private Banking and Financial Advice from the Institute of Stock Market Studies of Madrid and in programs of excellence in the financial sector from The Chinese University of Hong Kong, Wharton School of the University of Pennsylvania and London School of Economics and Political Science. Likewise, it has successfully obtained the AMIB Figure 3 certification and is CFA candidate level II.

He has experience in the financial and energy sector. He has held prominent positions such as the Finance and Administration Directorate, and the Operations Directorate of CFE International; subsidiary company of the Federal Electricity Commission (CFE) in the United States, frequently categorized within the first 10 companies in the Top North American Natural Gas Marketers ranking by Natural Gas Intelligence. Previously, she was Director of Investor Relations at CFECapital and has held different positions in investment portfolio management and economic analysis.

Ernesto Lichtle Menéndez
CFO

Ernesto Lichtle Menéndez has a Bachelor's Degree in Economics and Finance from Universidad Iberoamericana de Puebla. He has a Master's Degree in Stock and Financial Markets and Portfolio Management Studies from the Institute of Stock Market Studies of Madrid. He also has studies in International Finance from the London School of Economics and Political Science.

He has more than 10 years of professional experience in the Financial and Stock Market Sector. In the affiliate company of CFE, CFEnergía he held different positions such as Deputy Director of Financial Institutions and Derivatives, Director of Finance and Administration, and Director of Fuel Commercialization.

He was Chief Financial Officer of CFECapital from February 2019 to May 2020.

Patricia E. Millán Arroyo
Director of Investor Relations

Patricia E. Millán Arroyo has a Bachelor's Degree in International Relations and a Master's Degree in North American Studies from the University of the Americas – Puebla, both of which she graduated with Magna Cum Laude.

Likewise, she has a Diploma in Marketing from the Autonomous Technological Institute of Mexico (ITAM), a Diploma in Trust Administration and Management from the Anáhuac University. She has taken various courses, including: Project Management by Sue Leather Associates, Induction to Investor Relations and Alternative Instruments: ETF's, FIBRAS, CKD's and CERPIS, both taught by the Mexican Stock Exchange.

She has 16 years of professional experience collaborating in both the public and private sectors, as well as international organizations. Her experience in administration and management of projects and programs in various sectors has allowed her to develop a broad perspective for the management and development of relationships with stakeholders. She has extensive experience in the organization and coordination of national, regional and international events.

Gilda Flores Buenfil
Legal Director

Gilda Flores Buenfil has a Bachelor's Degree in Law from the Technological University of Mexico, and a Master's Degree in Tax Law Studies from Universidad Panamericana; she is specialist in organization schemes, self-regulation and business management, aimed at legal and regulatory compliance from the same university, as well as a Master's Degree in Public Contracting from the Castilla – La Mancha University.


He has 21 years of professional experience, both in the Mexican federal public service and in the private sphere. She has served as Deputy Director of Marketing for the company CFEnergía, SA de CV; as Director of Regulations and Consultation of the Executive Secretariat of the National Anti-Corruption System; as Quality Director of the Ministry of Economy and as legal advisor to the former Chief Officer of the same department.

Carmen Serdán Banda

CEO

Carmen Serdán Banda
CEO

Carmen Serdán Banda has a Bachelor's Degree in Economics and Finance from Universidad Iberoamericana de Puebla, and a Master's Degree in International Finance from the Institute of Stock Market Studies in Madrid; graduated with distinction as the best student in the study program.

Likewise, he has specialized studies in Private Banking and Financial Advice from the Institute of Stock Market Studies of Madrid and in programs of excellence in the financial sector from The Chinese University of Hong Kong, Wharton School of the University of Pennsylvania and London School of Economics and Political Science. Likewise, it has successfully obtained the AMIB Figure 3 certification and is CFA candidate level II.

He has experience in the financial and energy sector. He has held prominent positions such as the Finance and Administration Directorate, and the Operations Directorate of CFE International; subsidiary company of the Federal Electricity Commission (CFE) in the United States, frequently categorized within the first 10 companies in the Top North American Natural Gas Marketers ranking by Natural Gas Intelligence. Previously, she was Director of Investor Relations at CFECapital and has held different positions in investment portfolio management and economic analysis.

Ernesto Lichtle Menéndez

CFO

Ernesto Lichtle Menéndez
CFO

Ernesto Lichtle Menéndez has a Bachelor's Degree in Economics and Finance from Universidad Iberoamericana de Puebla. He has a Master's Degree in Stock and Financial Markets and Portfolio Management Studies from the Institute of Stock Market Studies of Madrid. He also has studies in International Finance from the London School of Economics and Political Science.

He has more than 10 years of professional experience in the Financial and Stock Market Sector. In the affiliate company of CFE, CFEnergía he held different positions such as Deputy Director of Financial Institutions and Derivatives, Director of Finance and Administration, and Director of Fuel Commercialization.

He was Chief Financial Officer of CFECapital from February 2019 to May 2020.

Patricia E. Millán Arroyo

Director of Investor Relations

Patricia E. Millán Arroyo
Director of Investor Relations

Patricia E. Millán Arroyo has a Bachelor's Degree in International Relations and a Master's Degree in North American Studies from the University of the Americas – Puebla, both of which she graduated with Magna Cum Laude.

Likewise, she has a Diploma in Marketing from the Autonomous Technological Institute of Mexico (ITAM), a Diploma in Trust Administration and Management from the Anáhuac University. She has taken various courses, including: Project Management by Sue Leather Associates, Induction to Investor Relations and Alternative Instruments: ETF's, FIBRAS, CKD's and CERPIS, both taught by the Mexican Stock Exchange.

She has 16 years of professional experience collaborating in both the public and private sectors, as well as international organizations. Her experience in administration and management of projects and programs in various sectors has allowed her to develop a broad perspective for the management and development of relationships with stakeholders. She has extensive experience in the organization and coordination of national, regional and international events.

Gilda Flores Buenfil

Legal Director

Gilda Flores Buenfil
Legal Director

Gilda Flores Buenfil has a Bachelor's Degree in Law from the Technological University of Mexico, and a Master's Degree in Tax Law Studies from Universidad Panamericana; she is specialist in organization schemes, self-regulation and business management, aimed at legal and regulatory compliance from the same university, as well as a Master's Degree in Public Contracting from the Castilla – La Mancha University.


He has 21 years of professional experience, both in the Mexican federal public service and in the private sphere. She has served as Deputy Director of Marketing for the company CFEnergía, SA de CV; as Director of Regulations and Consultation of the Executive Secretariat of the National Anti-Corruption System; as Quality Director of the Ministry of Economy and as legal advisor to the former Chief Officer of the same department.