ALBUQUERQUE, NM – Business and economic development leaders gathered in Albuquerque today to show support for PNM’s Plan for the San Juan Generating Station, saying that closing the entire power plant would mean economic hardship for the entire state.
“The PNM Plan is a responsible balance between environmental protection and jobs,” said Jason Espinoza, Vice President for Government Affairs at the Association of Commerce and Industry. “We urge passage of the PNM Plan because it’s in the best interests of the state to keep electric rates reasonable.”
PNM has proposed a plan for the San Juan Generating Station that would close two of the four coal-fired units at the site and cut coal-generated energy production by 50%. The energy would be replaced by a combination of additional solar, natural gas and nuclear energy, thereby cutting greenhouse gases significantly. The plan has been approved by the EPA, and received unanimous approval from the New Mexico Environmental Improvement Board. Despite the plan’s impressive environmental responsibility, some opponents have advocated closing all four coal-burning units despite the economic upheaval it would cause.
“Closing the entire plant would be an economic disaster for the Four Corners area,” said Ray Hagerman, Chief Executive Officer of the Four Corners Economic Development. “We would lose over 700 jobs directly and thousands more in the area.”
In addition, since the cost of coal is cheaper for energy rates, the closing of the entire plant would mean significantly higher electricity rates statewide for every single residential and business customer.
“This is a statewide issue, and we need to realize that the stakes are very high,” said Gary Tonjes, President of Albuquerque Economic Development. “New Mexicans need jobs. If energy rates go up significantly, it will make our state less competitive and hurt us economically.”
Business leaders throughout New Mexico reiterated that competitive electric rates are important for maintaining a strong economy in the Albuquerque area. Also appearing in support of the PNM Plan today in Albuquerque were Bob Murphy of Albuquerque Economic Forum; Ray Smith, chair of Albuquerque Economic Development; Carlo Lucero of the Albuquerque Hispano Chamber of Commerce; Tommy Roberts, Mayor of Farmington; and John Garcia of the Home Builders Association of Central New Mexico.
“The PNM Plan makes great sense for the economy of Albuquerque,” said Lynne Andersen, President of NAIOP, the commercial real estate development association. “This is a historic opportunity and we should adopt the PNM Plan.”