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May 23 Many environmental groups and other organizations say Public Service Company of New Mexico should get out of the pollution-spewing Four Corners Power Plant but not the way the utility has proposed. PNM's agreement to transfer its share of the coal-fired plant to Farmington-based Navajo Transitional Energy Co. is worse than the status quo, they contend. They argue ....
PNM power lines cross a segment of Bureau of Land Management land. (Aaron Wilson/Albuquerque Journal) ALBUQUERQUE, N.M. A coalition of environmental and consumer advocacy groups signed on Friday to an agreement to support the proposed merger between Public Service Co. of New Mexico and Connecticut-based energy giant Avangrid. PNM and Avangrid filed an “initial stipulation” agreement last Tuesday with the state Public Regulation Commission that committed the Attorney General’s Office and six environmental and indigenous community groups to support the merger in public hearings at the PRC, scheduled for early May. In that initial agreement, the companies added a lot more public benefits to its merger proposal to win broader community support, after many organizations participating in the case criticized the original deal for minimizing rate relief and other assistance for PNM customers and local communities. ....
PNM transmission lines on the West Mesa. (Greg Sorber/Albuquerque Journal) ALBUQUERQUE, N.M. Public Service Co. of New Mexico and energy giant Avangrid are doubling the amount of rate relief they plan to offer utility customers, plus other benefits, to gain Public Regulation Commission support for their proposed merger. The companies filed an “initial stipulation” agreement on Wednesday at the PRC outlining a range of concessions negotiated with some of the intervenors in the merger case, which is scheduled for public hearings in early May. The companies propose to double the amount of rate relief paid to PNM customers over three years, from their initial offer of $25 million when they filed last November for PRC merger approval to $50 million now. If divided among 530,000 PNM customers, that would amount to about $94.35 per ratepayer, or about $31.45 per year, through a monthly credit on bills totaling about $2.62 per month. ....
Credit File / KRWG Commentary: After announcing it would drop one of its leases in the Palo Verde Nuclear plant last year, this month PNM proposed replacing the energy with 100% solar and battery. In support of its proposal, PNM cited the Energy Transition Act’s requirements and the Public Regulation Commission’s decision last year to choose a 100% solar/storage proposal rather than PNM’s favored gas-inclusive replacement scenario for San Juan Generating Station coal. The replacement proposal will need to be approved by the commission. In selecting carbon emission-free generation to replace Palo Verde, PNM states in testimony (see below) it has taken into consideration the state s energy transition policies and long-term mandate for a carbon emission-free generation portfolio. While we have yet to delve into all of the details of PNM s application, this is very encouraging and we look forward to supporting PNM s request for prompt approval of replacement re ....