A Public Service of Santa Fe Community College
Play Live Radio
Next Up:
0:00
0:00
0:00 0:00
Available On Air Stations

PRC Okays PNM Rate Hike; Calls Investments In Coal Plant "Imprudent"

The New Mexico Public Regulation Commission voted 4-1 Wednesday to allow Public Service Co. of New Mexico to raise its rates by 9 percent, to be phased in over the next two years. However, the Commission ruled PNM investments made in recent years in the coal-fired Four Corners Power Plant were “imprudent,” thus rejecting the utility’s request to recover $148 million it has spent on new pollution controls and other upgrades there since 2013. According to the Albuquerque Journal, PNM sought $62.3 million in new annual revenue in the case, which it filed last December. Santa Fe-based New Energy Economy, praised the PRC decision to deny PNM recovery for investments in Four Corners. That organization opposed the $148 million in recovery that PNM sought because the utility allegedly failed to conduct a thorough financial analysis to justify its investments.

KSFR’s Tom Trowbridge spoke with NEE’s Executive Director Mariel Nanasi Wednesday.

https://goo.gl/Gnbb5q