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ALBUQUERQUE, N.M. The state Public Regulation Commission voted unanimously Wednesday to reject a plan by El Paso Electric Co. to build a new $160 million, 228 megawatt natural gas power plant to serve utility customers in southern New Mexico.
The five-member commission accepted a hearing examiner’s recommendation that approving the plant would violate New Mexico’s Energy Transition Act, which requires the state’s public utilities to convert their grids to 50% renewable resources by 2030, 80% by 2040 and 100% carbon-free generation by 2045. The examiner, Elizabeth Hurst, said EPE didn’t adequately consider renewable alternatives.
In addition, if approved, the gas plant would have a 40-year service life after coming online in 2023. That would extend plant operations nearly two decades beyond the state’s 2045 non-carbon target date, potentially strapping New Mexico customers with a stranded asset if EPE seeks full investment recove