Global 500 rank: 408
2007 loss ($ millions): $683
CFE fell 44 spots on the Global 500 list this year, and a tax hike and high fuel costs added to the Mexican state power company's woes: Its $682.5 million loss made it one of 2007's biggest money losers, and reversed a gain of $190.8 million a year earlier.
CFE blamed its financial performance on the closure of obsolete facilities, and a $475.9 million payment to a Mexican tax agency to make good on back taxes. Soaring natural gas prices also caused CFE to pay more to independent power producers.
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